Bone Biologics Corporation (BBLG) stock soared 15.16% in the pre-market trading session at the price of $3.95 despite no fundamental updates. Bone Biologics was established to develop regenerative medicine for bone. The company is currently developing a bone graft substitute product for bone reproduction in spinal fusion. It focused on outstanding research on Nell-1 protein that has produced noteworthy publications in peer-reviewed scientific literature.
BBLG to Present at BioConnect Virtual Conference
On 5th January 2022, BBLG announced to present at the H.C. Wainwright BioConnect Virtual Conference held from 10th to 13th January 2022. The company’s chief executive officer and president, Jeffrey Frelick, will deliver a presentation at a conference. A pre-recorded webcast will be available on Monday, 10th January 2022, at 7:00 a.m. E.T. Interested candidates can access the presentation on the investor relations section of the company’s official website.
BBLG Reported Closure of Public Offering
Earlier on 18th October 2021, BBLG reported the closure of a public offering of 1.5 million shares at an offering price of $5.25 per share. The company achieved a total of $7.9 million in gross proceeds from the public offering before subtracting underwriting discounts and other offering charges. Additionally, Bone Biologics had awarded the underwriters an option to purchase an additional 226,568 shares and warrants at the public price.
Earlier on 13th October 2021, the issued shares and warrants started trading on Nasdaq Capital Market using symbols BBLG and BBLGW. The warrants have an exercise price of $6.30 per share and expire five years following the date of issuance. The shares and warrants were issued under a registration statement on Form S-1 (No. 333-257484) filed with SEC and became effective on 12th October 2021.
Moreover, BBLG announced a reverse stock split of its issued common stock at a ratio of 1:2.5. The reverse split was declared effective on Tuesday, 12th October 2021 at 4:00 pm E.T. WallachBeth Capital, LLC had served as the exclusive book-running manager for this offering. The public offering was subject to the satisfaction of customary closing conditions.