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Bone Biologics Corporation has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, with no revenue reported and a net loss of $941,002, compared to a net loss of $1,919,709 in the same quarter the previous year.
Research and development expenses decreased to $429,747 from $1,574,850, attributed to prior year costs for NELL-1 protein production.
General and administrative expenses were $521,274, slightly up from $506,040 in the previous year.
The company reported a change in fair value of warrant liability of $(9,974), compared to $160,645 in the previous year.
Cash used in operating activities was $2,771,438 for the nine months ended September 30, 2024, down from $7,537,889 in the same period the previous year.
Cash provided by financing activities was $3,311,295, resulting from net proceeds of a March 2024 offering and an August 2024 warrant inducement.
Bone Biologics had $3,566,426 in cash as of September 30, 2024, anticipated to cover operational needs into the second quarter of 2025.
The company continues to focus on developing its lead product, NELL-1/DBM, and is preparing for a pivotal clinical study.
The filing also discusses the company's ongoing efforts to raise additional financing to fund future operations and provide working capital.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bone Biologics Corp warrants quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.