Nautilus Biotechnology FY2025 net loss narrows to $59M; cash $156M; guidance for higher 2026 spend

Nautilus Biotechnology, Inc.

2025-FY EPS reported -$0.47

Q4 net loss of $13.8M vs $17.6M YoY; operating expenses down 23% to $15.4M.
FY2025 net loss of $59.0M vs $70.8M in FY2024; operating expenses fell 18% to $66.8M.
Cash and investments $156.1M as of Dec 31, 2025; management sees sufficient runway through 2027.
Early Access Program launched Jan 2026 for Tau proteoforms; no material revenue expected in FY2026.
FY2026 operating expenses expected to increase 15-20% YoY; full commercial launch targeted late 2026.

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