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Sunday, July 3, 2022

Bone Biologics Corporation (BBLG) stock surged in the current market; here is why?

Bone Biologics Corporation (BBLG) stock surged in the current market after striking a deal with Musculoskeletal Transplant Foundation (MTF). BBLG values $3.07, gaining more than 12.12% from the previous closing price. BBLG stock closed at $2.74 at the end of the last trading session. BBLG stock volume traded in the previous trading session was around 207.14K shares. The current market cap of the company is about $28.36 million.


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BBLG partnered with Musculoskeletal Transplant Foundation (MTF)

Bone Biologics Corporation (BBLG) has recently struck a supply agreement with the Musculoskeletal Transplant Foundation (MTF). MTF is already a consistent investor in the BBLG for the past many years. The deal has been inked with MTF in the light of its previous proven track record of coming up with several new products being introduced globally. Also, MTF has worked with several credible organizations in several different countries in the past.

BBLG has recently moved forward with NELL-1 Technologies, for which it needed a supply of demineralized bone matrix or DBM. The company has partnered with MTF to get a consistent supply of DBM from the Musculoskeletal Transplant Foundation (MTF). The deal has been signed for five years and is among the company’s most significant deals ever. The deal will help in the continuation of NELL-1 and reflects the confidence of MTF in the NELL-1. This deal is an extensive development in the relationship between the two companies.

BBLG: Fiscal 2021 Highlights

  • BBLG announced fiscal 2021 revenue of $1.6 million which is slightly lower than the revenue of $1.8 in fiscal 2020.
  • R&D expenses declined from $340K to just $82K in fiscal 2021. The company is concerned about the severe decline in R&D expenses. 
  • The company’s cash increased to $6.7 million from zero as 2021.

Conclusion

The deal represents a significant relationship between the two companies. The agreement is a reflection of MTF’s continuous trust in BBLG. MTF was already an investor in the company, but with this deal, the business relationship between the two companies has strengthened than before. 

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