Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.43.

EBIT: As of FY2026 Q1, the actual value is USD -843.86 K.

Bone Biologics Corporation operates in a single segment focused on bone regeneration in spinal fusion using the recombinant human protein NELL-1, with consolidated net income (loss) serving as the sole measure of segment profit or loss .

Revenue

Bone Biologics Corporation reported no revenue for the three months ended March 31, 2026, or March 31, 2025 .

Operational Metrics

• Research and Development (R&D) expenses decreased by $281,979, or -66.57%, from $423,576 for the three months ended March 31, 2025, to $141,597 for the same period in 2026, attributed to the timing of clinical trials .
• General and Administrative (G&A) expenses increased by $48,547, or 7.89%, from $614,910 for the three months ended March 31, 2025, to $663,457 for the same period in 2026 .
• Total operating expenses decreased by $233,432, or -22.48%, from $1,038,486 in Q1 2025 to $805,054 in Q1 2026 .
• Loss from operations decreased by $233,432, or -22.48%, from -$1,038,486 in Q1 2025 to -$805,054 in Q1 2026 .
• Net loss decreased by $251,104, or -24.69%, from -$1,017,092 for the three months ended March 31, 2025, to -$765,988 for the same period in 2026 .
• Interest income increased by 93.63%, from $20,039 in Q1 2025 to $38,801 in Q1 2026 .
• Stock-based compensation was $23,505 in Q1 2026, down from $50,605 in Q1 2025 .

Other Financial Metrics

• Change in fair value of warrant liability resulted in a gain of $265 in Q1 2026, compared to a gain of $1,355 in Q1 2025, representing an -80.44% change .
• Warrant liability was $438 as of March 31, 2026, compared to $703 as of December 31, 2025 .

Cash Flow

• Net cash used in operating activities was -$804,282 for the three months ended March 31, 2026, a decrease from -$926,125 for the same period in 2025, primarily due to decreased research and development costs .
• Net cash provided by financing activities was $0 for the three months ended March 31, 2026, compared to $347,549 for the same period in 2025, which was from the net proceeds of the At The Market (ATM) Facility . The company did not sell any shares through the ATM Facility in Q1 2026 .
• Cash at the end of the period was $4,530,040 as of March 31, 2026 .

Future Outlook and Strategy

Bone Biologics Corporation, a clinical-stage medical device company, is focused on bone regeneration in spinal fusion using the NELL-1 protein, with its NELL-1/DBM product requiring FDA pre-market approval for U.S. commercialization . The company anticipates continued substantial investment in NELL-1 development for a pivotal clinical study and is conducting a pilot clinical study for its NB1 bone graft device in Australia, whose design has been reviewed by the FDA to support progression to a U.S. pivotal trial . With accumulated losses of approximately -$88.9 million and estimated operating expenditures of $5.4 million for the next twelve months, the company’s available cash of $4.5 million as of March 31, 2026, is expected to fund operations into the fourth quarter of 2026, necessitating additional financing to continue as a going concern .