# Bone Biologics Corporation (BBLG)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $15M  
**Price:** $1.25 (+0.81%)

> Bone Biologics Corporation is a medical device company specializing in bone regeneration for spinal fusion procedures. Its core technology revolves around the NELL-1 platform, featuring recombinant human NELL-1 protein that offers target-specific control over bone growth. The lead product, NB1, combines rhNELL-1 with demineralized bone matrix to serve as a bone graft in spinal fusion surgeries, particularly for degenerative disc disease and lumbar interbody fusion. This technology also applies to orthopedic surgeries, plastic reconstruction, neurosurgery, interventional radiology, and sports medicine, addressing skeletal bone defects and related conditions. Bone Biologics Corporation targets spine surgeons and patients requiring enhanced bone healing outcomes. It holds a license agreement with the UCLA Technology Development Group for developing and commercializing NELL-1 in spinal fusion. Founded in 2004 and headquartered in Burlington, Massachusetts, the company operates within the healthcare sector's medical devices industry, focusing on orthobiologic solutions for spine fusion markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2020 | $1.07B | — | -$825,014 | -$2M | — |
| 2019 | $1.07B | — | -$2M | -$3M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2020 | — | $14M | -$14M | — | — |
| 2019 | $30,827 | $12M | -$12M | $24,145 | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$3M | — | — |
| 2024 | -$4M | — | — |
| 2023 | -$10M | — | — |
| 2022 | -$4M | — | — |
| 2021 | -$1M | — | — |
| 2020 | -$426,933 | — | — |
| 2019 | -$3M | — | — |
| 2018 | -$4M | — | — |
| 2017 | -$3M | — | — |
| 2016 | -$7M | — | — |
| 2015 | -$4M | $504 | -$4M |
| 2014 | -$3M | $11,901 | -$3M |
| 2013 | -$525,365 | — | — |
| 2013 | -$6,116 | — | — |
| 2012 | -$6,057 | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/BBLG)