Bone Biologics (US:BBLG)2025-11-14 21:36Financial Performance - Total current assets increased to $6,350,799 as of September 30, 2025, compared to $3,861,369 on December 31, 2024, representing a growth of 64.3%[19] - Total stockholders' equity rose to $6,016,517 at September 30, 2025, up from $3,483,657 at December 31, 2024, indicating a 72.5% increase[19] - Net loss for the nine months ended September 30, 2025, was $2,424,348, a reduction of 6.4% compared to a net loss of $2,590,705 for the same period in 2024[34] - The loss per share attributable to common stockholders for the nine months ended September 30, 2025, was $2.51, a decrease from $29.09 in the same period of 2024[23] - The net loss for the three months ended September 30, 2025, was $666,737, a reduction of 29.15% from a net loss of $941,002 in the same period of 2024[129] - For the nine months ended September 30, 2025, total operating expenses decreased by 6.10% to $2,501,837 from $2,664,223 in the same period of 2024[134] Cash and Financing - Cash at the end of the period increased to $6,049,084 as of September 30, 2025, compared to $3,566,426 at September 30, 2024, reflecting an increase of 69.5%[34] - Cash used in operating activities for the nine months ended September 30, 2025, was $1,976,388, a decrease from $2,771,438 in the same period of 2024, primarily due to the absence of a legal settlement payment and lower R&D expenses[146] - Cash provided by financing activities during the nine months ended September 30, 2025, was $4,700,341, compared to $3,311,295 in the same period of 2024, driven by net proceeds from the ATM Facility and the June Offering[147] - The company raised $4,352,792 from the sale of common stock and warrants in a public offering during the nine months ended September 30, 2025[34] - The Company issued 793,750 shares of common stock and pre-funded warrants for $4.00 per share, resulting in net proceeds of $4,352,792 after cash costs[44] - The company expects its available cash to fund operations into the fourth quarter of 2026[145] Operating Expenses - Operating expenses for the three months ended September 30, 2025, were $715,274, a decrease of 24.8% from $951,021 in the same period of 2024[23] - For the three months ended September 30, 2025, total operating expenses decreased by 24.79% to $715,274 from $951,021 in the same period of 2024[129] - General and administrative expenses increased by 3.69% to $1,698,843 for the nine months ended September 30, 2025, compared to $1,638,409 in the same period of 2024[136] - Operating expenditures for the next twelve months are estimated at $6.9 million, raising substantial doubt about the Company's ability to continue as a going concern[43] Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $802,994, down 21.7% from $1,025,814 in the same period of 2024[23] - Research and development expenses for the three months ended September 30, 2025, decreased by 56.30% to $187,808 compared to $429,747 for the same period in 2024[129] - The Company has an estimated remaining commitment of approximately $244,327 under agreements with Contract Manufacturing Organizations and Contract Research Organizations as of September 30, 2025[76] - The pilot clinical study for the NB1 bone graft device will evaluate safety and effectiveness in up to 30 adult subjects undergoing lumbar interbody fusion[75] Stock and Equity - The weighted average shares of common stock outstanding increased to 1,795,097 for the three months ended September 30, 2025, compared to 292,321 for the same period in 2024[23] - As of September 30, 2025, the Company had 1,795,260 shares of common stock outstanding, an increase from 492,417 shares as of December 31, 2024[82] - The company has 5,104,915 shares of common stock authorized for issuance under its 2015 Equity Incentive Plan, which was increased by 5,000,000 shares in May 2025[99] - The company issued stock options totaling 55,461 with an average exercise price of $5.41 during the nine months ended September 30, 2025[102] - As of September 30, 2025, the company had 2,884,037 outstanding common stock warrants with a weighted average exercise price of $13.59 and a weighted average life of 2.88 years[97] Regulatory and Market Conditions - The Company is subject to extensive regulation by the FDA, requiring rigorous preclinical and clinical testing before marketing its products in the U.S.[40] - The Company has experienced volatility and disruption in financial markets due to macroeconomic and geopolitical events, impacting its operations[42] - The Company plans to continue raising additional debt and/or equity financing to fund future operations, but there is no assurance that such financing will be obtained[46] Legal and Compliance - The company is not currently involved in any legal proceedings that would materially affect its business or financial condition[155] - There have been no material changes to the risk factors previously disclosed in the Annual Report for the year ended December 31, 2024[156] - The company has not experienced any material changes in its critical accounting policies since the last annual report[149] - As of September 30, 2025, the company's disclosure controls and procedures were evaluated as effective by management[151]