Bone Biologics Corp
bonebiologics.comBone Biologics Corp (NASDAQ: BBLG) is a clinical-stage medical device and biologics company developing a target-specific growth factor for bone regeneration. The company has no approved products and generates no product revenue, relying on capital raises to fund operations. Its lead product candidate, NELL-1/DBM (designated NB1), combines the NELL-1 growth factor with demineralized bone matrix and is intended for lumbar spinal fusion applications. NB1 is expected to require a Class III medical device designation and premarket approval (PMA) from the FDA, per a specific FDA communication referenced in the company's 10-K filed March 2, 2026. The underlying NELL-1 technology is licensed from the Regents of the University of California under an amended license agreement. DBM Putty, a matrix of processed human cortical bone mixed with sodium hyaluronate, serves as the carrier component. The company competes against major multinational orthopedic and med-tech companies in a market where autografts are the current clinical gold standard for spine fusion.
Products & Services
Lead product candidate: NELL-1/DBM Fusion Device (NB1), a NELL-1 growth factor combined with demineralized bone matrix, targeting lumbar spinal fusion. DBM Putty: processed human cortical bone granules mixed with sodium hyaluronate, tested for osteostimulation via athymic mouse model or alkaline phosphatase assay. Both are pre-commercialization as of the 10-K filed March 2, 2026.
Revenue Model
Pre-revenue clinical-stage company. Operations are funded through equity raises, including an at-the-market offering agreement with H.C. Wainwright & Co., LLC dated September 27, 2024, and securities purchase agreements. No product revenue is disclosed in the 10-K filed March 2, 2026.
Customers & Markets
Target end market is spine surgery, specifically lumbar spinal fusion procedures. End customers would be hospitals, surgical centers, and spine surgeons. No commercial customers as of the filing date; product candidates are in clinical development.
Geographic Exposure
United States-focused regulatory and development activity, subject to FDA oversight. No geographic revenue breakdown disclosed, as the company has no product revenue.
Financial Snapshot
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