Bone Biologics Regains Compliance with Nasdaq Continued Listing Requirements

Rhea-AI Summary

Bone Biologics Corporation (BBLG) has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. The company's common stock will continue to be listed on The Nasdaq Capital Market, but will remain under Nasdaq’s discretionary panel monitor until June 28, 2024. Bone Biologics failed to meet the closing bid price of $1.00 for 30 consecutive business days but regained compliance by maintaining a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days, as of January 4, 2024.

Insights

Financial Analyst

Regaining compliance with Nasdaq's minimum bid price requirement is a significant financial milestone for Bone Biologics. It suggests an improvement in investor confidence, potentially due to operational progress or positive market reception. The uplift in share price to meet the $1.00 threshold indicates a reversal in the previously bearish sentiment. This compliance alleviates the immediate risk of delisting, which can have severe liquidity and reputational consequences for a company.

For investors, this development may signal a more stable investment environment for Bone Biologics. However, it is essential to consider the underlying factors that led to the compliance issue. If the bid price improvement was achieved through a reverse stock split or other non-operational means, the long-term implications could be less positive. Investors should analyze the company's fundamentals, including recent financial performance, product pipeline and market position, to assess the sustainability of the stock's recovery.

Market Research Analyst

The orthobiologic products market is highly competitive, with innovation and regulatory approvals being key drivers of success. Bone Biologics' compliance with Nasdaq's listing standards may reflect broader industry trends, such as increased demand for spine fusion products or advancements in orthobiologic technologies. It is important to monitor the company's R&D pipeline and any strategic partnerships that could enhance its market share and competitive edge.

Additionally, the company's ability to maintain compliance until June 2024 under Nasdaq’s discretionary panel monitor will be crucial. During this period, the company must demonstrate consistent operational performance and financial stability. Market analysts should track the company’s progress in these areas, as they will be critical in determining Bone Biologics' long-term market position and shareholder value.

Biotech Industry Analyst

In the context of the biotech industry, regulatory compliance such as Nasdaq's listing standards is a key indicator of a company's governance and operational health. Bone Biologics' return to compliance suggests that the company has potentially addressed previous market concerns. However, the biotech sector is inherently risky, with companies often facing long development cycles and uncertain regulatory pathways.

For Bone Biologics, the focus should be on advancing its orthobiologic products to meet clinical and commercial milestones. The impact of this news on the stock market should be viewed in light of upcoming clinical trials, FDA interactions and the entry of new competitors. These factors will ultimately determine the company's ability to capitalize on its market potential and deliver value to shareholders.

BURLINGTON, Mass.--(BUSINESS WIRE)-- Bone Biologics Corporation (“Bone Biologics” or the “Company”) (Nasdaq: BBLG, BBLGW), a developer of orthobiologic products for spine fusion markets, today announced that it has received notice from The NASDAQ Stock Market LLC (Nasdaq) informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Bone Biologics is now in compliance with all applicable listing standards and its common stock will continue to be listed on The Nasdaq Capital Market, but will remain under Nasdaq’s discretionary panel monitor until June 28, 2024.

Bone Biologics was notified by Nasdaq on September 27, 2023 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. In order to regain compliance with the Rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on January 4, 2024, the 10^th consecutive trading day when the closing bid price of the Company's common stock was over $1.00.

About Bone Biologics

Bone Biologics was founded to pursue regenerative medicine for bone. The Company is undertaking work with select strategic partners that builds on the preclinical research of the Nell-1 protein. Bone Biologics is focusing development efforts for its bone graft substitute product on bone regeneration in spinal fusion procedures, while additionally having rights to trauma and osteoporosis applications. For more information, please visit www.bonebiologics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240110540852/en/

LHA Investor Relations

Kim Sutton Golodetz

212-838-3777

kgolodetz@lhai.com

Source: Bone Biologics Corporation

FAQ

What is the current status of Bone Biologics Corporation's compliance with Nasdaq's minimum bid price requirement?

Bone Biologics Corporation (BBLG) has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market.

What will happen to Bone Biologics' common stock after regaining compliance with the minimum bid price requirement?

The company's common stock will continue to be listed on The Nasdaq Capital Market, but will remain under Nasdaq’s discretionary panel monitor until June 28, 2024.

When did Bone Biologics fail to meet the minimum bid price requirement and when did it regain compliance?

Bone Biologics failed to meet the closing bid price of $1.00 for 30 consecutive business days but regained compliance by maintaining a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days, as of January 4, 2024.