Bone Biologics Corp logo

Bone Biologics Corp(BBLG)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$0.5
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for BBLG

09/25/2026: BBLG (1-star) is currently NOT-A-BUY. Pass it for now.

Bone Biologics Corp is a pre-revenue, clinical-stage biotechnology company developing the NELL-1 protein platform for spinal fusion procedures. Its primary strength lies in its specialized focus and proprietary technology, which aims to provide a superior alternative to existing bone graft materials. The company's growth hinges on successful clinical trial outcomes and eventual FDA approval, representing a classic high-risk, high-reward biotech investment story. Key risks include significant regulatory hurdles, heavy reliance on capital raises, and intense competition from established medical device leaders. It is best suited for growth-oriented investors with high risk tolerance who are closely monitoring updates from the company's ongoing clinical development programs.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers high-risk, high-reward exposure to biotech innovation but lacks established product sales.
Momentum investorMixed fitMomentum may occur around clinical trial updates, but requires a positive technical upturn signal.
Value investorWeak fitThe company is in a pre-revenue stage, making traditional value metrics like P/E ratios inapplicable.
Dividend investorWeak fitThe company does not pay dividends and retains all capital for research and development.
Low-risk investorWeak fitThe high volatility and regulatory risks of biotech development are generally unsuitable for conservative investors.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock price is highly sensitive to clinical news, which can lead to significant swings.
Valuation riskHighValuation is speculative and heavily dependent on the uncertain probability of future regulatory success.
Competition risk (incumbent medical device firms)HighIt must compete against massive firms with entrenched relationships and resources.
Business qualityMediumWhile the technology is novel, the company is still proving its commercial viability.
Dividend incomeLow / noneInvestors should expect zero income from this equity.
Execution riskHighSuccessfully navigating FDA pathways and clinical trials is a complex and risky undertaking.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -63.36%
Avg. Invested days 15
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
BBLG receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, and weak price momentum.

Company Fundamentals

★★★★★
BBLG has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and moderate ownership. In FY2025 versus FY2024, solid earnings growth (+24.4%) is partially offset by soft cash generation (FCF margin 0.0%), slightly negative revenue growth (+0.0%), soft profitability (net margin 0.0%).

Financial Health Rating

★★★★★
BBLG's financial health is supported by strong efficiency, including operating-expense and cost-of-revenue discipline (opex 0.0% of revenue). Profitability is weak (1 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is BBLG's strongest growth driver at +34.8% FY2025 versus FY2024 (solid, 4 stars). By comparison, earnings growth (+24.4%, solid) is also solid, while revenue growth (+0.0%, slightly negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 5.0% and approximately 100.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.02%, which materially reduces the ownership score.

Top 5 Institutional Investors

Citadel Advisors Llc 1.19%
Tower Research Capital LLC 0.21%
SBI Securities Co Ltd 0.01%
UBS Group AG 0.00%
DRW Securities, LLC 0.00%

Unit Economics (Per $1K Revenue)

★★★★★
BBLG generates approximately $0 of gross profit, $-0 of operating income, and $-0 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
BBLG has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.37M USD
Price to earnings Ratio -
1Y Target Price 12.2
Price to earnings Ratio -
1Y Target Price 12.2
Volume (30-day avg) 239.9K shares
Beta 0.5
52 Weeks Range 0.43 - 2.89
Updated Date 09/26/2026
52 Weeks Range 0.43 - 2.89
Updated Date 09/26/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.28

How Company Makes Money

Business areaWhat it includesRetail investor read
Osteobiologics ResearchFuture sales potential from NELL-1 technology applications.The company is currently betting on the future regulatory success of its bone-growth protein.
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Valuation

Trailing PE -
Forward PE -
Enterprise Value -2.64M
Price to Sales(TTM) -
Enterprise Value -2.64M
Price to Sales(TTM) -
Enterprise Value to Revenue -
Enterprise Value to EBITDA 0.13
Shares Outstanding 2.76M
Shares Floating 2.76M
Shares Outstanding 2.76M
Shares Floating 2.76M
Percent Insiders 0.02
Percent Institutions 5.01

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Bone Biologics Corp

Exchange NASDAQ
Headquarters Burlington, MA, United States
IPO Launch date 2016-03-31
CEO & President Mr. Jeffrey Frelick
Sector Healthcare
Industry Biotechnology
Full time employees 2
Full time employees 2

Bone Biologics Corporation, a medical device company, focuses on bone regeneration in spinal fusion using the recombinant human protein in the United States. Its lead product is NELL-1/DBM medical device, an osteopromotive recombinant protein, which provides target specific control over bone regeneration. The company also develops NB1, a NELL-1/DBM fusion device for use in lumbar spinal fusion, as well as spine implants, non-union trauma cases, and osteoporosis applications. It serves spine surgeons and patients with a skeletal bone defect or bone-related condition in their spine. The company has a license agreement with the UCLA Technology Development Group to develop and commercialize NELL-1 for spinal fusion by local administration, osteoporosis, and trauma applications. Bone Biologics Corporation was founded in 2004 and is headquartered in Burlington, Massachusetts.