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Nautilus Opens $125M ATM, Replacing Two-Year-Old Unused Facility

Nautilus Biotechnology established a new $125 million at-the-market equity offering with TD Securities on September 11, 2026, simultaneously terminating a prior ATM dated February 28, 2024 under which no shares were ever sold. The facility — sized near the company's approximate $125.9 million market cap — gives management broad discretion to sell equity, though there is no obligation to do so. Cash and investments have declined from $156.1 million at year-end 2025 to $129.2 million at June 30, 2026, as the pre-revenue company runs at roughly $13–15 million of net loss per quarter. Management guided in February 2026 that existing cash was sufficient through 2027.