Bone Biologics Corp
BBLG evidence brief
What we can confirm
- BioSniper Score:
- 5.7 / 10
- Market Cap:
- $1.4M
- Lead Asset:
- nb1 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for BBLG—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · BBLG
Bone Biologics Corp (BBLG) is a development-stage orthobiologics company advancing its lead NELL-1/DBM bone graft candidate (NB1) through first-in-human clinical trials for spinal fusion, with a focus on operational efficiency and regulatory pathway navigation.
Key risk: Regulatory approval uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.4M
Cash Runway
—
Lead Asset
nb1 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 6 clinical trials for Bone Biologics Corp.
Bone Biologics Corp (BBLG) is a development-stage orthobiologics company advancing its lead NELL-1/DBM bone graft candidate (NB1) through first-in-human clinical trials for spinal fusion, with a focus on operational efficiency and regulatory pathway navigation.
- Lead product NB1 (NELL-1/DBM) is in a first-in-human pilot clinical trial in Australia, with six hospital sites under agreement and enrollment expected to complete by year-end 2026 [news · 2026-09-08].
- Validated shelf life of rhNELL-1 protein extended to 32 months, enhancing manufacturing flexibility [news · 2026-08-12].
- Pivotal sheep study showed a 37.5% increased frequency of fusion at 26 weeks compared with control [sec · filed 2026-07-17].
- Net loss of $0.8M and shareholders' equity of $3.9M as of 2026-06-30 [latest reported financials].
- Company expects NB1 to be classified as a device/drug combination product requiring FDA pre-market approval (PMA) before U.S. commercialization [sec · filed 2026-07-17].
What works
- NB1 has demonstrated efficacy in a pivotal animal (sheep) model with a 37.5% increased fusion rate, supporting its potential in spinal fusion [sec · filed 2026-07-17].
- Extended shelf life of rhNELL-1 to 32 months provides supply-chain flexibility for larger-scale development [news · 2026-08-12].
- Company has expanded to six trial sites in Australia, strengthening the likelihood of completing enrollment by end of 2026 [news · 2026-09-08].
- Proprietary NELL-1 platform has been validated in sheep and non-human primate models, with patent applications submitted [sec · filed 2026-07-17].
What to weigh
- Company reported a net loss of $0.8M for the quarter ended 2026-06-30, indicating ongoing cash burn [latest reported financials].
- NB1 requires FDA pre-market approval (PMA) as a combination product, a lengthy and uncertain regulatory process [sec · filed 2026-07-17].
- Company acknowledges the need to raise substantial additional capital to fund operations and clinical trials [sec · filed 2026-07-17].
- First-in-human trial is still in early stages; no efficacy or safety data from human subjects have been reported yet [sec · filed 2026-07-17].
From the filings
Quoted directly from source documents.
Pivotal sheep study demonstrated 37.5% increased fusion frequency
“demonstrated a 37.5% increased frequency of fusion at 26 weeks compared with the control”
SEC filings · July 17, 2026
NB1 is a device/drug combination product requiring PMA
“NELL-1/DBM will be classified as a device/drug combination product that will require an FDA-approved pre-market approval ("PMA") application before it can be commercialized in the United States”
SEC filings · July 17, 2026
Six hospital sites in Australia under agreement for NB1 trial
“six hospital sites in Australia are now under agreement to participate in its first-in-human pilot clinical trial of NB1”
News · September 8, 2026
Validated shelf life of rhNELL-1 extended to 32 months
“achieved a 32-month validated shelf life for rhNELL-1”
News · August 12, 2026
Risks & what to watch (4)›
Key risks
- Regulatory approval uncertainty — NB1 requires FDA PMA as a combination product, a costly and time-intensive process with no guarantee of approval [sec · filed 2026-07-17].
- Capital needs — Company acknowledges need to raise substantial additional capital to fund operations and trials; net loss of $0.8M in Q2 2026 [sec · filed 2026-07-17].
- Early-stage clinical data — First-in-human trial is ongoing with no reported efficacy or safety results; reliance on animal model data [sec · filed 2026-07-17].
- Patent and IP risks — Patent application for rhNELL-1 compositions is pending; no assurance of approval or protection from challenges [sec · filed 2026-07-17].
What to watch
- Completion of enrollment in the NB1 first-in-human trial by year-end 2026 [news · 2026-09-08].
- Any interim safety or efficacy data from the ongoing pilot study [sec · filed 2026-07-17].
- Company's ability to raise additional capital given net loss and equity position [latest reported financials].
- FDA classification and PMA pathway developments for NB1 [sec · filed 2026-07-17].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 8, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.13 · 0% dilution
Lead: Phase 1
1 candidate
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
3
Total value held
$5K
| Holder | Shares | Value |
|---|---|---|
| tower research capital llc (trc) | 4,126 | $5K |
| sbi securities co., ltd. | 230 | $253 |
| ubs group ag | 56 | $62 |
Short Interest
as of May 20, 2026- % of float
- 0.6%
- Days to cover
- 0.9
- Shares short
- 10,427
- Daily short volume (Oct 9, 2026)
- 44.1%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
BBLG short interestGovernance
Frequently asked questions
What is the AI investment thesis for Bone Biologics Corp?
Bone Biologics Corp (BBLG) is a development-stage orthobiologics company advancing its lead NELL-1/DBM bone graft candidate (NB1) through first-in-human clinical trials for spinal fusion, with a focus on operational efficiency and regulatory pathway navigation.
What is Bone Biologics Corp's lead drug candidate?
Bone Biologics Corp's most advanced tracked candidate is nb1 (Phase 1) for Lumbar spinal fusion.
Who is the CEO of Bone Biologics Corp?
Mr. Jeffrey Frelick is the chief executive officer of Bone Biologics Corp (BBLG).
Where is Bone Biologics Corp headquartered?
Bone Biologics Corp (BBLG) is headquartered in Burlington, MA, United States.
What therapeutic areas does Bone Biologics Corp focus on?
Bone Biologics Corp develops therapies across Oncology, Gene Therapy, Immunology, Pain.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.