Nautilus: Trading Below An Albeit Lower Net Cash Figure

Summary

• Nautilus Biotechnology, Inc. faces reflexivity risks and macroeconomic challenges, but its commercial plan starts next year with substantial cash reserves.
• Trading below cash value, Nautilus' patents and bio-informatics platform are not being given too much credit by markets.
• Although, they seem to expect that company to be minimally viable once they have an additional $30 million of cash, which still may not be enough depending on commercial costs.
• The company aims for commercialization by late 2026, with anticipated ASPs above $1 million, but that doesn't sound like it will be enough, and we'll need to see commercial outcomes.
• NAUT stock is probably still going to be subject to reflexivity risks for a while, so we stay on the sidelines while costs of capital remain stubbornly higher.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.