Nautilus Biotechnology, Inc. (NAUT) has experienced an increase of 5.31% in the premarket. However, the last trading session closed at $5.27 with an increase of 5.4%.
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Strategic Partnership – What’s up?
On 2nd November 2021, NAUT announced the strategic development and supply partnership. The partnership will benefit Nautilus’ reagent research and development by leveraging Abcam’s industry-leading recombinant monoclonal antibody development technology and expertise, as well as creating a long-term supply agreement. Moreover, the collaboration will begin with the production of affinity binding reagents for use with the Nautilus proteomic analysis system and will soon extend to sizable production and marketing of reagents for sale.
Nautilus will be able to meet its long-term reagent supply needs because of Abcam’s scalability and experience in recombinant antibody manufacture. The potential of scientists and clinicians being able to explore the proteome at a more extensive level opens intriguing prospects for discovery and innovation across numerous disease areas. Lastly, the company wants to help scientists in the creation of medications and diagnostic tools that ultimately enhance clinical outcomes by integrating Nautilus’ protein analysis technology with Abcam’s antibody discovery, development, and production experience.
NAUT is pleased to be working together with Abcam to develop reagents that will strengthen the proteome research methodologies. Both the companies are working on proteomic data that will become a more valuable resource for developing more effective medications and diagnostics. The company wants to cooperate with Abcam as they demonstrate the belief in the progress, as well as the potential of the Nautilus protein research technology to help make it come true.
Third Quarter 2021 Financial Results – What’s going on?
NAUT announced third quarter 2021 results on 2nd November 2021. The company reported operating expenses of $14.6 million, 262 percent more than that of $4.0 million in the third quarter of 2020. Moreover, the increase in manpower to support continued product development, as well as the costs associated with being a public business, drove increasing operational expenses. Furthermore, the company had a net loss of $14.5 million, and $374.0 million in cash, cash equivalents, and investments.
Exciting collaborative effort agreements, momentum around planned publications, the onset of new alliances, and the adaptation to different world-class amenities in both San Carlos and Seattle have been characterized by exciting agreements signed. Moreover, the team of scientists and engineers continues to perform and capitalize on a lot of opportunities. Last but not the least, the company is quite proud of the team and happy with the achievements they have made in providing a more comprehensive perspective of the proteome than has ever been feasible.