Bone Biologics Corp Common Stock (BBLG)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham investor, I begin with earning power and balance-sheet strength. Bone Biologics reports no revenue in the filed periods I have from fiscal 2023, the year ended 2023-12-31, through fiscal Q2 2026, the quarter ended 2026-06-30. It lost $8.9 million in fiscal 2023, $4.1 million in fiscal 2024, the year ended 2024-12-31, $3.1 million in fiscal 2025, the year ended 2025-12-31, and $773,702 in fiscal Q2 2026. Trailing free cash flow is negative $2.6 million, and FairStock calculates an FCF yield of -221.8% against a $1.2 million market cap. That is not a cash-generating business; it is a funding vehicle for NELL-1/DBM and NB1 development. FairStock's ratios reinforce the fragility: at the 2026-10-13 close of $0.43, P/B is 0.20, but P/E is -0.31 and ROE is -54.96%. FairStock calculates a Piotroski F-Score of 0/9 and an Altman Z-Score of -25.85. A low price-to-book number might catch a screen, but book value is being consumed by losses. With two employees and no reported revenue, a durable competitive moat is unproven. Any moat would have to come from intellectual property, regulatory approval, and clinical adoption, none of which appears in the filed figures. The loss trend has improved from fiscal 2023 to fiscal 2025, and the fiscal Q2 2026 loss was smaller. But without revenue or positive free cash flow, value depends on future financing and trial outcomes rather than present earnings. Graham would demand a margin of safety in assets or earnings; here earnings are absent and asset value is uncertain. Buffett would ask for durable economics; I cannot infer them from these numbers. This looks like a speculative biotechnology option, not a conservative value investment.

In plain English: Bone Biologics is a tiny medical device company working on bone regeneration for spinal fusion. It reports no revenue and has lost money for years, including $3.1 million in fiscal 2025, the year ended 2025-12-31, and $773,702 in fiscal Q2 2026, the quarter ended 2026-06-30. At $0.43, the stock may look cheap compared with what the company reports as its accounting value, but the business looks very weak because losses and cash use are severe, so the price does not look like a safe bargain on these numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer