Bone Biologics (BBLG) stock rocketed higher on Friday after the medical device company announced a patent filing for its NELL-1 protein. The patent application covers rhNELL-1 polypeptide compositions and their uses for treating bone conditions.
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Bone Biologics said the patent application would strengthen its intellectual property portfolio and support its strategic plan to advance its clinical development program. The company is currently working with partners to build on preclinical data for the NELL-1 protein. This protein is in development to act as a bone graft substitute for spinal fusion procedures.
Jeffrey Frelick, CEO of Bone Biologics, said, “This patent application marks a major milestone in our mission to bring effective treatments to spine fusion patients.”
Bone Biologics Stock Movement Today
Bone Biologics stock was up 99.76% in pre-market trading on Friday. That’s a welcome change for a stock that is down 26.24% year-to-date and 43.17% over the past 12 months. The shares also saw heavy trading today, with over 15 million exchanged, compared to a three-month daily average of about 63,000 units.
