SEATTLE, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single-molecule protein analysis platform, today announced it will report financial results for the third quarter 2025 before market open on Tuesday, October 28, 2025. The company’s management will webcast a corresponding conference call beginning at 5:30 a.m. Pacific Time / 8:30 a.m. Eastern Time to discuss its results, business developments, and outlook. Live audio of the webcast w ...

Nautilus Biotechnology Conference Call Summary Company Overview - **Company**: Nautilus Biotechnology, Inc. (NasdaqGS: NAUT) - **Focus**: Revolutionizing biomedicine through proteomics, specifically targeting drug development and diagnostics Key Industry Insights - **Pharmaceutical R&D Spending**: Global pharmaceutical companies spend approximately $300 billion annually on research and development, with a staggering 90% of drug programs failing [3][4] - **Proteome Importance**: Proteins, which constitute the proteome, are critical for understanding disease mechanisms and developing effective drugs. 95% of FDA-approved drugs target proteins [4][5] - **Alzheimer's Disease (AD)**: Over 7 million people in the U.S. are affected by AD, with no effective treatments available. The economic impact of AD is projected to exceed $1 trillion by 2050 [5][6] Core Technology and Innovations - **Current Proteomics Limitations**: Existing technologies, such as mass spectrometry, provide limited coverage and are inefficient in measuring proteins, often quantifying only about 10% of proteins in a sample [13][14] - **Iterative Mapping Approach**: Nautilus Biotechnology employs a novel method called iterative mapping, which allows for precise identification of proteins through multiple small measurements, significantly improving data quality and completeness [18][20] - **Hyperdense Single-Molecule Array**: The company has developed a unique technology to immobilize billions of protein molecules for analysis, enabling comprehensive proteomic studies [21] Applications and Market Strategy - **Broad-Scale Proteomics**: The primary application of Nautilus's technology, allowing for extensive analysis of protein samples [23] - **Targeted Proteoform Analysis**: Focused on specific proteins, such as Tau, to understand minute molecular differences and their implications in diseases like Alzheimer's [24][25] - **Market Potential**: The proteomics market is expected to reach $57 billion by 2030, with Nautilus targeting academic institutions and pharmaceutical organizations for initial market entry [30] Financial Overview - **Funding and Financial Health**: Nautilus raised $345 million during its IPO, with approximately $180 million remaining, expected to last through 2027 [33] - **Business Model**: Anticipated launch of the platform in late 2026, with an initial pricing of around $1 million for the platform and a few thousand dollars per sample for consumables [31][32] Management and Team - **Leadership**: The team includes experienced professionals from both the tech and biochemistry fields, with a strong focus on executing the company's vision [27][28] Collaborations and Future Outlook - **Collaboration with Allen Institute**: A pilot project to analyze brain samples affected by neurodegenerative disorders, aiming to demonstrate the technology's capabilities and secure larger agreements [40][41] - **Long-Term Vision**: Nautilus aims to disrupt the proteomics market similar to how Illumina transformed genomics, with a focus on delivering actionable insights for drug development and diagnostics [37][38] Conclusion - Nautilus Biotechnology is positioned to address significant inefficiencies in drug development through innovative proteomic technologies, with a strong market potential and a dedicated team driving its mission forward.

Core Viewpoint - Biotech stocks are experiencing renewed momentum, with small-cap companies like Nautilus Biotechnology, PepGen, Lixte, RenovoRx, Genelux, and VolitionRx attracting investor interest through various catalysts such as insider buying, strategic partnerships, and clinical trial progress Group 1: Nautilus Biotechnology (NAUT) - Nautilus Biotechnology's stock surged 5.52% during regular trading, closing at $0.7070, and rose an additional 7.5% in after-hours trading to $0.76, with trading volume nearly double its average at 647,399 shares [2] - Recent insider buying by CEO Sujal M. Patel, who purchased 83,500 shares on September 8 and 116,500 shares on September 5, totaling over $135,000, indicates strong leadership confidence [3] - The company reported a narrower loss of $0.12 per share in Q2 2025, with an 18% drop in operating expenses, and has $179.5 million in cash, providing a financial runway through 2027 [4] Group 2: PepGen Inc. (PEPG) - PepGen's stock rebounded 7.14% in after-hours trading to $1.50 after a regular session close of $1.40, with trading volume more than double its average at 638,576 shares [4] - The company completed dosing for its 15 mg/kg arm of the FREEDOM trial, with topline data expected in early Q4 2025, following a strategic narrowing of its pipeline [5] Group 3: Lixte Biotechnology Holdings Inc. (LIXT) - Lixte's stock rose 5.85% in after-hours trading to $5.25 after closing at $4.96, with a trading volume of 503,604 shares, notable given recent volatility [5] - The company announced a $2.6 million purchase of Bitcoin and Ethereum to diversify its treasury holdings, reflecting a strategic shift in financial strategy [6] Group 4: RenovoRx Inc. (RNXT) - RenovoRx shares increased 4.22% in after-hours trading to $1.2194 after a regular session close of $1.17, with trading volume significantly above its average at 886,119 shares [6] - The company received a positive recommendation to continue its Phase III TIGeR-PaC trial for pancreatic cancer, reinforcing confidence in its lead therapy platform [7] Group 5: Genelux Corp. (GNLX) - Genelux's stock rose 4.11% in after-hours trading to $3.80 after closing at $3.65, with trading volume relatively light at 60,339 shares [8] - The recent activity follows Genelux's participation in the H.C. Wainwright Global Investment Conference [9] Group 6: VolitionRx Ltd. (VNRX) - VolitionRx's stock increased 4.27% in after-hours trading to $0.6474 after closing at $0.6209, with trading volume slightly below its average at 183,777 shares [10] - The company announced a Research License and Exclusive Commercial Option Rights Agreement with Werfen's Immunoassay Technology Center, focusing on advancing its Nu.Q NETs assay for Antiphospholipid Syndrome [10]

Core Insights - Biotech stocks experienced significant gains in after-hours trading on September 9, 2025, driven by clinical updates, insider buying, and investor conference appearances across several small- and mid-cap companies [1] Company Summaries - **Immutep Ltd. (IMMP)**: Shares rose by 4.37% to $1.67 after-hours, following a decline of 6.98% during regular trading. The stock's rebound was fueled by the acceptance of data from its EFTISARC-NEO Phase II trial for oral presentation at CTOS 2025, focusing on a rare cancer with high unmet need [2][3] - **Nautilus Biotechnology Inc. (NAUT)**: Shares surged by 12.25% to $0.7521 after-hours, recovering from a 4.42% decline in regular trading. The increase was attributed to insider buying by CEO Sujal M. Patel, who purchased 83,500 shares, signaling confidence in the company [4][5] - **Pliant Therapeutics Inc. (PLRX)**: The stock ended regular trading at $1.75, up 1.16%, and jumped 16.00% to $2.03 after-hours. The upcoming third-quarter earnings report on November 6, 2025, is expected to provide updates on its lead candidate targeting idiopathic pulmonary fibrosis [6][7] - **Jin Medical International Ltd. (ZJYL)**: Shares closed at $0.6532, gaining 3.65% during regular trading and rising 7.15% to $0.6999 after-hours. The catalyst for this movement was the announcement of expanded production capabilities in China, aimed at enhancing global delivery of medical equipment [7][8] - **Phio Pharmaceuticals Corp. (PHIO)**: The stock rose 8.20% to $2.64 after-hours, building on a 13.49% increase during regular trading. The momentum was driven by participation in the H.C. Wainwright 27th Annual Global Investment Conference, where updates on its Phase 1b clinical trial for PH-762 will be presented [8][9] - **Kura Oncology Inc. (KURA)**: Shares increased by 6.12% to $8.50 after-hours, following a 1.60% decline in regular trading. The rally was linked to the company's presentation at the H.C. Wainwright conference, highlighting key developments and upcoming regulatory milestones for Ziftomenib [10][11][12]

Company Overview - Nautilus is positioned within the evolving proteomics landscape, offering a unique approach compared to existing platforms [2]. Competitive Landscape - Nautilus differentiates itself from other proteomics platforms, including proteomic sequencing companies like QSI and Encodia, targeted proteomics platforms such as Olink or SomaLogic, nanopore protein sequencing, and protein fingerprinting [2].

Nautilus Biotechnology FY Conference Summary Company Overview - Nautilus Biotechnology is focused on developing a new method for protein analysis, which is crucial for therapeutic development and diagnostics. The company aims to provide comprehensive proteome analysis, differentiating itself from existing proteomics platforms that typically focus on niche solutions [2][4][5]. Key Industry Insights - The current proteomics landscape is limited by the inability to measure proteins accurately, with existing methods only identifying about 10% of proteins in a sample [3]. - Nautilus aims to address this gap by building an end-to-end platform that can analyze the entire proteome from any sample, which is essential for advancing precision medicine and drug development [4][5]. Core Product Features - Nautilus is developing a platform capable of proteoform analysis, which allows for the interrogation of various forms of proteins, including modifications that are critical for understanding diseases like Alzheimer's [6][8][11]. - The company has introduced a method called iterative mapping of proteoform (iMap), which enables massively parallel analysis of proteoforms [6][7]. Development Timeline - Nautilus plans to launch its full proteome solution by the end of 2026, with early analyses already underway with select customers [5][33]. - The company is currently focusing 95% of its resources on broad-scale discovery capabilities, with only 5% on proteoform analysis, indicating a strategic prioritization of immediate revenue opportunities [24][25]. Financial Position - Nautilus has a cash position of approximately $180 million, which it plans to manage prudently to support ongoing development and commercialization efforts [48][49]. Market Potential - The proteomics market is expected to be a multibillion-dollar opportunity, with Nautilus targeting both broad-scale discovery and specific proteoform analysis applications [22][23]. - The company is also exploring partnerships with research institutions, such as the Allen Institute for Brain Science, to validate its technology and expand its market presence [20]. Customer Engagement - Initial interest in Nautilus's capabilities has been strong among key opinion leaders (KOLs) in the academic and nonprofit research sectors, with growing conversations in the pharmaceutical industry [21]. Competitive Landscape - Nautilus aims to differentiate itself from competitors by offering a platform that provides reliable and reproducible data, which is critical for therapeutic and diagnostic development [13][15]. - The company believes that its approach to data collection and analysis will set it apart in the evolving proteomics market, similar to how Illumina became a leader in genomics [51]. Future Outlook - The company anticipates that as proteomics technology evolves, it will democratize access to proteomic data, enabling broader applications in various fields, including neurodegeneration, cardiology, and cancer [50][51]. Conclusion - Nautilus Biotechnology is positioned to make significant advancements in the proteomics field with its innovative platform, strong financial management, and strategic focus on both broad-scale and targeted proteoform analysis. The upcoming launch and partnerships are expected to enhance its market presence and drive future growth.

Core Insights - Nautilus Biotechnology, Inc. is participating in multiple investor conferences to enhance visibility and engagement with investors [1][4] Company Overview - Nautilus Biotechnology is a development stage life sciences company headquartered in Seattle, Washington, with R&D operations in San Carlos, California [3] - The company focuses on creating a platform technology for quantifying and analyzing the complexity of the proteome, aiming to democratize access to proteomics and advance human health and medicine [3] Upcoming Events - Management will participate in a fireside chat at the Morgan Stanley 23rd Annual Global Healthcare Conference on September 8 at 10:50 a.m. Pacific Time [4] - A presentation is scheduled for the Q3 Investor Summit Group Virtual Conference on September 16 at 10:00 a.m. Pacific Time, followed by 1x1 meetings on September 17 [4]

Core Insights - Nautilus Biotechnology, Inc. reported its financial results for Q2 2025, highlighting key performance metrics and future outlook [3]. Financial Performance - The earnings call was held on July 31, 2025, at 8:30 AM ET, with participation from key executives including the CEO and CFO [1]. - The company released its financial results for the quarter ended June 30, 2025, indicating a focus on transparency and communication with investors [3]. Management Commentary - The management team, including the CEO and Chief Scientist, provided insights into the company's strategic direction and operational updates during the call [1][3]. - Forward-looking statements were made regarding the company's future performance, emphasizing the potential for growth and innovation in the biotechnology sector [4].

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section provides the unaudited condensed consolidated financial statements and related notes for the periods ended June 30, 2025, detailing the company's financial position and performance [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including balance sheets, statements of operations, and cash flows, for the periods ended June 30, 2025 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This table provides a snapshot of the company's financial position, detailing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheet Highlights (Unaudited) | (in thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $34,457 | $27,646 | | Short-term investments | $113,416 | $102,247 | | Total current assets | $150,725 | $132,826 | | Total assets | $213,189 | $242,743 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $8,137 | $7,632 | | Total liabilities | $32,095 | $34,013 | | Accumulated deficit | $(304,665) | $(273,019) | | Total stockholders' equity | $181,094 | $208,730 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This table presents the company's operating expenses, interest income, and net loss for the three and six months ended June 30, 2025, and 2024 Condensed Consolidated Statements of Operations (Unaudited) | (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $10,394 | $12,436 | $21,930 | $25,366 | | General and administrative | $6,703 | $8,353 | $14,011 | $17,030 | | **Total operating expenses** | **$17,097** | **$20,789** | **$35,941** | **$42,396** | | Interest income | $2,080 | $2,798 | $4,311 | $5,675 | | **Net loss** | **$(15,033)** | **$(18,010)** | **$(31,646)** | **$(36,740)** | | Net loss per share | $(0.12) | $(0.14) | $(0.25) | $(0.29) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This table summarizes the cash flows from operating, investing, and financing activities for the six months ended June 30, 2025, and 2024 Condensed Consolidated Statements of Cash Flows (Unaudited) | (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(27,287) | $(31,723) | | Net cash provided by investing activities | $33,985 | $36,647 | | Net cash provided by financing activities | $113 | $564 | | **Net increase in cash, cash equivalents and restricted cash** | **$6,811** | **$5,488** | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide essential details on the company's business, accounting policies, development-stage status, and financial commitments - Nautilus is a **development-stage** biotechnology company focused on its proteomics platform, devoting substantially all resources to R&D, and has not generated any revenue since its inception in 2016[28](index=28&type=chunk) - The company has incurred net operating losses every year since inception and had an accumulated deficit of **$304.7 million** as of June 30, 2025[32](index=32&type=chunk) - Management believes its cash, cash equivalents, and short-term investments of **$147.9 million** as of June 30, 2025, are sufficient to fund operations for at least the next twelve months[33](index=33&type=chunk) - As of June 30, 2025, the company had open purchase commitments for goods and services of **$1.5 million** and total future minimum lease payments of **$35.8 million**[77](index=77&type=chunk)[80](index=80&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section analyzes the company's financial condition and operational results, highlighting its development-stage status, expense trends, liquidity, and capital resources [Overview](index=23&type=section&id=Overview) This overview describes Nautilus as a development-stage life sciences company focused on its proteomics platform, with no commercialized products or revenue to date - Nautilus is a **development-stage** life sciences company creating a platform technology for quantifying the proteome, with no commercialized products or generated revenue yet[88](index=88&type=chunk)[89](index=89&type=chunk) - The company plans a three-phase commercial launch for its platform, with a broader launch anticipated in **late 2026**, currently in the first phase of research collaborations[92](index=92&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) This section details the company's operating expenses, showing a decrease in research and development and general and administrative costs for the periods presented Comparison of Operating Results (Q2 2025 vs. Q2 2024) | (in thousands) | Q2 2025 | Q2 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $10,394 | $12,436 | $(2,042) | (16)% | | General and administrative | $6,703 | $8,353 | $(1,650) | (20)% | | **Total operating expenses** | **$17,097** | **$20,789** | **$(3,692)** | **(18)%** | - The decrease in Q2 2025 operating expenses was driven by lower salaries and benefits from a March 2025 reduction in force, reduced laboratory services, and lower stock-based compensation as initial merger-related grants became fully expensed[110](index=110&type=chunk)[111](index=111&type=chunk) Comparison of Operating Results (Six Months Ended June 30, 2025 vs. 2024) | (in thousands) | H1 2025 | H1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $21,930 | $25,366 | $(3,436) | (14)% | | General and administrative | $14,011 | $17,030 | $(3,019) | (18)% | | **Total operating expenses** | **$35,941** | **$42,396** | **$(6,455)** | **(15)%** | [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, capital funding strategies, and its recent Nasdaq minimum bid price deficiency notice - As of June 30, 2025, the company had cash, cash equivalents, and investments of **$179.5 million**, which management believes is sufficient to fund operations for at least the next twelve months[117](index=117&type=chunk)[125](index=125&type=chunk) - In February 2024, the company established an "at the market" (ATM) offering program to sell up to **$125.0 million** of common stock, with no shares sold under this program during the first six months of 2025[119](index=119&type=chunk) - On May 2, 2025, the company received a deficiency letter from Nasdaq for its stock price falling below the **$1.00 minimum bid requirement**, with a 180-day compliance period[122](index=122&type=chunk)[123](index=123&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks include interest rate fluctuations affecting its investment portfolio and inflation impacting operating costs - The company's main market risks are interest rate risk on its **$179.5 million** in cash and investments, and inflation risk on its operating costs[144](index=144&type=chunk)[145](index=145&type=chunk)[146](index=146&type=chunk) [Item 4. Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal controls over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[148](index=148&type=chunk) [PART II - OTHER INFORMATION](index=36&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This section covers other information including legal proceedings, risk factors, equity sales, defaults, mine safety, and exhibits [Item 1. Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company may become involved in various claims and legal proceedings in the ordinary course of business - A lawsuit filed by the company in December 2023 against Somalogic, Inc. and the California Institute of Technology concerning a patent dispute was **settled and dismissed in November 2024**[79](index=79&type=chunk) [Item 1A. Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks to the company's business, including its development-stage status, dependence on platform commercialization, competition, capital needs, and intellectual property protection - The business is entirely dependent on the successful development and commercialization of its Nautilus platform, which remains in the **development stage** and faces significant scientific, technical, and market acceptance challenges[156](index=156&type=chunk)[172](index=172&type=chunk) - The company faces significant competition from large, established life sciences companies with greater financial, manufacturing, and commercial resources[156](index=156&type=chunk)[193](index=193&type=chunk)[194](index=194&type=chunk) - The company anticipates needing to raise **additional capital** to fund its development and commercialization plans, with fundraising potentially impacted by adverse economic conditions[159](index=159&type=chunk)[213](index=213&type=chunk)[214](index=214&type=chunk) - The company faces substantial risks related to obtaining and maintaining sufficient intellectual property protection for its technology and may become involved in costly litigation[160](index=160&type=chunk)[162](index=162&type=chunk)[222](index=222&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=81&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the period - None[366](index=366&type=chunk) [Item 3. Defaults Upon Senior Securities](index=81&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[367](index=367&type=chunk) [Item 4. Mine Safety Disclosures](index=81&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - None[368](index=368&type=chunk) [Item 5. Other Information](index=81&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the last fiscal quarter - No directors or officers adopted or terminated a Rule 10b5-1 trading plan or other non-Rule 10b5-1 trading arrangement during the quarter[369](index=369&type=chunk) [Item 6. Exhibits](index=82&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the Principal Executive Officer and Principal Financial Officer

Financial Data and Key Metrics Changes - Total operating expenses for Q2 2025 were $17.1 million, an 18% decrease from $20.8 million in Q2 2024, attributed to reduced personnel costs and ongoing cost optimization efforts [34] - Research and development expenses decreased to $10.4 million from $12.4 million year-over-year, while general and administrative expenses fell to $6.7 million from $8.4 million [34] - Net loss for the quarter was $15 million compared to $18 million in the prior year period [34] - The company ended the quarter with approximately $179.5 million in cash, cash equivalents, and investments, projecting a cash runway extending through 2027 [34] Business Line Data and Key Metrics Changes - The company reported significant progress in its tau proteoform assay, which is expected to drive future collaborations and insights into neurodegenerative diseases [6][21] - The iterative mapping method demonstrated unprecedented dynamic range and reproducibility, with a median coefficient of variation of 1.5% within experiments and approximately 5% across multiple instruments [13][14] Market Data and Key Metrics Changes - The company is experiencing strong interest from academic, pharma, and nonprofit partners, indicating a growing demand for its proteoform analysis capabilities [26][58] - Feedback from researchers at the Alzheimer's Association International Conference highlighted the need for better understanding of disease progression in Alzheimer's, reinforcing the relevance of the company's technology [25][41] Company Strategy and Development Direction - The company aims to refine and scale its broad scale assay configuration while advancing collaborations for tau and non-tau targets [21][28] - Nautilus is focused on market development for its proteoform analysis, recognizing the need to educate potential customers on the unique capabilities of its technology [30][46] - The company plans to balance resources between targeted proteoform and broad scale development programs to ensure timely progress on key milestones [27][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to transform how biology is measured and understood, with a strong belief in the mission and the foundation laid by recent scientific advancements [36] - The management acknowledged the challenges in developing the proteoform market but emphasized the potential for significant revenue growth in the coming years [51] Other Important Information - The company has signed two collaborations with major US research institutes to demonstrate its platform's capabilities and performance with customer samples [27] - The manuscript detailing the company's findings is currently under peer review, with hopes for publication in a high-impact journal [50] Q&A Session Summary Question: Reaction from the field regarding the manuscript and collaborations - Management noted strong interest from the Alzheimer's community for better ways to understand the disease, emphasizing the criticality of proteoforms in this context [41][42] Question: Pipeline of demand and revenue outlook - The company expects a longer development timeline for the proteoform opportunity compared to the more established proteome side, with initial revenue anticipated to start small next year [46][51] Question: Customer interest and collaboration impact - There has been significant interest from academic groups, pharma, and nonprofit research institutes, with early conversations indicating a strong demand for proteoform data [57][58] Question: Updates on probe performance - Management clarified that updates on probe performance will be provided in the coming quarters as the company transitions to a new assay configuration [66]