Bone Biologics Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Bone Biologics Corp. has submitted its 2023 10-K filing, providing a comprehensive overview of its financial performance and business operations for the fiscal year.</b>

AI Summary

Bone Biologics Corp (BBLGW) filed a Annual Report (10-K) with the SEC on February 21, 2024. Bone Biologics Corp. filed its annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 2 Burlington Woods Drive, Suite 100, Burlington, MA 01803. Bone Biologics Corp. is classified under SIC code 3842 for Orthopedic, Prosthetic & Surgical Appliances & Supplies. The report includes financial data for the fiscal years 2023, 2022, and 2021, detailing common stock, additional paid-in capital, and retained earnings.

Why It Matters

For investors and stakeholders tracking Bone Biologics Corp, this filing contains several important signals. This 10-K filing provides investors with detailed financial statements and management's discussion of the company's performance, risks, and outlook for the fiscal year ended December 31, 2023. The filing includes information on stock and warrant activity, fair value measurements, and geographical segment data, offering insights into the company's financial structure and market presence.

Risk Assessment

Risk Level: medium — Bone Biologics Corp shows moderate risk based on this filing. The company's financial health and future prospects are subject to the inherent risks of operating in the medical device industry, including regulatory hurdles and market competition, as detailed in their 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Bone Biologics Corp.'s current financial position and future growth potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-21 — Filing Date (Date of submission)
• 2023-01-01 — Reporting Start Date (Fiscal year start)
• 2022-12-31 — Prior Year End (Comparative financial data)

Key Players & Entities

• Bone Biologics Corp. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-21 (date) — Filing date
• 2 Burlington Woods Drive, Suite 100, Burlington, MA 01803 (address) — Business address
• 3842 (sic_code) — Standard Industrial Classification
• 0001419554 (company_id) — Central Index Key

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with extensive regulations governing medical devices, which can be costly and time-consuming.
• Market Competition [medium — market]: The orthopedic and regenerative medicine markets are competitive, with established players and potential new entrants.
• Funding and Liquidity [medium — financial]: The company may require additional funding to support its operations and product development, posing liquidity risks.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the annual financial statements.
• 2024-02-21: Filing Date — Date the 10-K report was officially submitted to the SEC.

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value per share BBLG The Nasdaq
• $0 — 4,238 shares of common stock, par value $0.001, outstanding. TABLE OF CONTENTS
• $3 billion — bone graft substitute market presents a $3 billion market opportunity. While use of the pa
• $8 billion — ne does not mend naturally. Globally an $8 billion market opportunity, management believes
• $11.2 billion — is market. Osteoporosis . Globally an $11.2 billion market opportunity, the medical need to
• $18 million — research was funded with approximately $18 million in resources from UCLA TDG and governme
• $6,907,824 — s ended December 31, 2023 and 2022 were $6,907,824 and $1,579,298, respectively. We antici
• $1,579,298 — r 31, 2023 and 2022 were $6,907,824 and $1,579,298, respectively. We anticipate that we wi
• $5 million — pate that we will require approximately $5 million to complete first-in-man studies, and a
• $24 million — an studies, and an estimated additional $24 million in scientific expenses to achieve FDA a
• $10,000 — n annual maintenance fee to UCLA TDG of $10,000 as well as pay certain royalties to UCL
• $50,000 — st pay a minimum annual royalty between $50,000 and $250,000, depending on the calendar
• $250,000 — imum annual royalty between $50,000 and $250,000, depending on the calendar year which i
• $100,000 — Licensed Product or Licensed Method: $100,000 upon enrollment of the first subject in
• $500,000 — the first subject in a Pivotal Study: $500,000 upon Pre-Market Approval of a Licensed

Filing Documents

• form10-k.htm (10-K) — 1960KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• ex97.htm (EX-97.1) — 52KB
• 0001493152-24-007432.txt (&nbsp;) — 6539KB
• bblg-20231231.xsd (EX-101.SCH) — 47KB
• bblg-20231231_cal.xml (EX-101.CAL) — 44KB
• bblg-20231231_def.xml (EX-101.DEF) — 166KB
• bblg-20231231_lab.xml (EX-101.LAB) — 396KB
• bblg-20231231_pre.xml (EX-101.PRE) — 289KB
• form10-k_htm.xml (XML) — 841KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 43 Item 1C. Cybersecurity 43 Item 2.

Properties

Properties 44 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 45 Item 6. [Reserved] 45 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 48 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 48 Item 9A.

Controls and Procedures

Controls and Procedures 48 Item 9B. Other Information 49 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 49 Part III Item 10. Directors, Executive Officers and Corporate Governance 50 Item 11.

Executive Compensation

Executive Compensation 53 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 57 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accounting Fees and Services 59 Part IV Item 15. Exhibits, Financial Statement Schedules 60 Item 16. Form 10-K Summary 62

Signatures

Signatures 63 Power of Attorney 64 Index to Consolidated Financial Statements F-1 2 Cautionary Note on Forward-Looking Statements This annual report on form 10-K ("Annual Report") contains forward-looking statements. Such forward-looking statements include those that express plans, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. These forward-looking statements are based on our current expectations and projections about future events and they are subject to risks and uncertainties known and unknown that could cause actual results and developments to differ materially from those expressed or implied in such statements. All capital expenditures, cash flows, business strategy and plans and objectives of management for future operations are forward-looking "seek," "estimate," "project," "could," "may," and similar expressions are intended to identify forward-looking statements. These statements include, among others, information regarding future operations, future capital expenditures, and future net cash flow. Such statements reflect our management's current views with respect to future events and financial performance and involve risks and uncertainties, including, without limitation, our ability to raise additional capital to fund our operations, obtaining Food and Drug Administration ("FDA") and other regulatory authorization to market our drug and biological products, successful completion of our clinical trials, our ability to achieve regulatory authorization to market our lead product NELL-1/DBM, our reliance on third party manufacturers for our drug products, market acceptance of our products, our dependence on licenses for certain of our products, our reliance o

View Full Filing

View this 10-K filing on SEC EDGAR