marketcaparena

MBIO

MUSTANG BIO, INC.

Company overview

Market capitalization
—
Employees
4
Latest publication
2026-09-29
About MUSTANG BIO, INC.

Mustang Bio, Inc., a clinical-stage biopharmaceutical company, focuses on translating cell therapies into cures for difficult-to-treat cancers and autoimmune diseases in the United States. The company develops MB-106, a CD20-targeted chimeric antigen receptor (CAR) T cell therapy which is in Phase I clinical trail for non-hodgkin lymphoma, chronic lymphocytic leukemia, and autoimmune diseases; MB-109, a combination MB-101 and MB-108 as a potential treatment for IL13Ra2+ relapsed or refractory glioblastoma and high-grade astrocytoma; MB-101, an IL13Ra2 CAR T cell program completd Phase I for glioblastoma; and MB-108 which is in Phase I for the treatment of herpes simplex virus-1 oncolytic virus C134. It has a license agreement with city of hope national medical center and nationwide children's hospital. Mustang Bio, Inc. was incorporated in 2015 and is headquartered in Waltham, Massachusetts.

Company website

Financial statements

Income Quarterly

Exact reported values; units shown beside each amount. Missing values are —.
MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
Total Revenue0USD0USD0USD0USD0USD1,992,000USD0USD0USD
Research Development178,000USD317,000USD333,000USD98,000USD964,000USD197,000USD57,000USD4,360,000USD
Selling General Administrative880,000USD987,000USD957,000USD787,000USD1,217,000USD223,000USD1,400,000USD1,531,000USD
Total Operating Expenses1,058,000USD670,000USD624,000USD885,000USD212,000USD1,017,000USD1,457,000USD8,540,000USD
Operating Income-1,058,000USD-670,000USD-624,000USD-885,000USD-253,000USD-1,017,000USD-1,457,000USD-8,540,000USD
Interest Income103,000USD132,000USD156,000USD123,000USD100,000USD66,000USD48,000USD29,000USD
Net Interest Income103,000USD132,000USD156,000USD123,000USD100,000USD65,000USD47,000USD27,000USD
Income Before Tax-955,000USD-538,000USD-468,000USD-762,000USD-153,000USD-952,000USD-1,410,000USD-8,199,000USD
Net Income-955,000USD-538,000USD-468,000USD-762,000USD-153,000USD-952,000USD-1,410,000USD-8,199,000USD
Net Income From Continuing Ops-955,000USD-538,000USD-468,000USD-762,000USD-153,000USD-952,000USD-1,410,000USD-8,199,000USD
Ebitda-1,058,000USD-670,000USD-468,000USD-885,000USD-112,000USD-876,000USD-1,358,000USD-5,890,000USD
Reconciled Depreciation0USD0USD0USD0USD41,000USD75,000USD51,000USD1,000USD
Total Other Income Expense Net103,000USD132,000USD156,000USD123,000USD100,000USD65,000USD47,000USD341,000USD
Ebit———-885,000USD-153,000USD-951,000USD-1,409,000USD-5,891,000USD
Cost Of Revenue————41,000USD996,000USD100,000USD300,000USD
Gross Profit————-41,000USD996,000USD-100,000USD-300,000USD
Unclassified Operating Expenses————-1,969,000USD——2,649,000USD
Depreciation And Amortization————41,000USD75,000USD51,000USD1,000USD
Interest Expense—————1,000USD1,000USD2,000USD
Income Tax Expense—————996,000USD—-300,000USD
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Income Yearly

Exact reported values; units shown beside each amount. Missing values are —.
MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
Total Revenue0USD0USD0USD0USD0USD0USD0USD0USD
Cost Of Revenue41,000USD823,000USD2,225,000USD3,031,000USD2,306,000USD1,785,000USD1,368,000USD630,000USD
Gross Profit-41,000USD-823,000USD-2,225,000USD-3,031,000USD-2,306,000USD-1,785,000USD-1,368,000USD-630,000USD
Research Development1,516,000USD8,418,000USD39,180,000USD63,949,000USD53,539,000USD45,624,000USD36,315,000USD24,464,000USD
Selling General Administrative3,948,000USD4,135,000USD9,686,000USD12,210,000USD11,017,000USD9,505,000USD9,570,000USD6,759,000USD
Unclassified Operating Expenses-3,073,000USD3,692,000USD—-3,031,000USD————
Total Operating Expenses2,391,000USD16,245,000USD48,501,000USD73,128,000USD64,417,000USD55,021,000USD45,885,000USD31,223,000USD
Operating Income-2,432,000USD-16,245,000USD-50,726,000USD-76,159,000USD-66,723,000USD-56,806,000USD-45,885,000USD-31,223,000USD
Interest Income511,000USD184,000USD1,050,000USD689,000USD368,000USD708,000USD1,263,000USD569,000USD
Net Interest Income511,000USD179,000USD-4,222,000USD-2,670,000USD353,000USD-3,209,000USD-504,000USD561,000USD
Income Before Tax-1,921,000USD-15,752,000USD-51,602,000USD-77,525,000USD-66,370,000USD-60,015,000USD-46,389,000USD-30,662,000USD
Net Income-1,921,000USD-15,752,000USD-51,602,000USD-77,525,000USD-66,370,000USD-60,015,000USD-48,156,000USD-30,662,000USD
Net Income From Continuing Ops-1,921,000USD-15,752,000USD-62,620,000USD-77,525,000USD-66,370,000USD-60,015,000USD-46,389,000USD-30,662,000USD
Ebit-2,432,000USD-15,747,000USD-50,288,000USD-74,166,000USD-66,355,000USD-56,098,000USD-44,622,000USD-30,654,000USD
Ebitda-2,391,000USD-14,924,000USD-48,063,000USD-71,135,000USD-64,049,000USD-54,313,000USD-43,254,000USD-30,024,000USD
Depreciation And Amortization41,000USD823,000USD2,225,000USD3,031,000USD2,306,000USD1,785,000USD1,368,000USD630,000USD
Reconciled Depreciation41,000USD823,000USD2,696,000USD3,031,000USD2,306,000USD1,785,000USD1,368,000USD630,000USD
Total Other Income Expense Net511,000USD493,000USD-876,000USD-1,366,000USD353,000USD-3,209,000USD-504,000USD561,000USD
Interest Expense—5,000USD1,314,000USD3,359,000USD15,000USD3,917,000USD1,767,000USD8,000USD
Income Tax Expense—-15,752,000USD—1,366,000USD-2,291,000USD2,132,000USD1,767,000USD569,000USD
Selling And Marketing Expenses——365,000USD—————
Net Income Applicable To Common Shares———-77,525,000USD-66,370,000USD-60,015,000USD-46,389,000USD-30,662,000USD
Non Operating Income Net Other—————708,000USD1,263,000USD569,000USD
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Balance sheet Quarterly

Exact reported values; units shown beside each amount. Missing values are —.
MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
Total Assets15,613,000USD16,582,000USD17,593,000USD19,361,000USD13,046,000USD14,909,000USD9,308,000USD7,193,000USD
Cash And Equivalents15,150,000USD———————
Other Current Assets246,000USD107,000USD110,000USD160,000USD172,000USD211,000USD1,365,000USD2,293,000USD
Total Liabilities8,068,000USD———————
Total Current Liabilities7,918,000USD7,836,000USD7,914,000USD9,440,000USD10,004,000USD11,150,000USD12,609,000USD15,038,000USD
Other Current Liabilities2,540,000USD———————
Total Stockholder Equity7,545,000USD8,596,000USD9,529,000USD9,771,000USD2,892,000USD3,609,000USD-3,873,000USD-8,656,000USD
Total Equity Including Noncontrolling Interest7,545,000USD———————
Accounts Payable5,378,000USD3,341,000USD3,510,000USD4,993,000USD5,650,000USD6,309,000USD7,464,000USD8,759,000USD
Retained Earnings-400,671,000USD-399,599,000USD-398,644,000USD-398,106,000USD-397,638,000USD-396,876,000USD-396,723,000USD-395,771,000USD
Total Liab—7,986,000USD8,064,000USD9,590,000USD10,154,000USD11,300,000USD13,181,000USD15,849,000USD
Other Current Liab—4,345,000USD4,404,000USD4,297,000USD4,354,000USD4,841,000USD4,689,000USD5,837,000USD
Common Stock—1,000USD1,000USD1,000USD——5,000USD3,000USD
Capital Stock—1,000USD1,000USD1,000USD0USD0USD5,000USD3,000USD
Other Assets—107,000USD——————
Cash—16,258,000USD17,266,000USD18,984,000USD12,657,000USD14,231,000USD6,839,000USD3,525,000USD
Cash And Short Term Investments—16,258,000USD17,266,000USD18,984,000USD12,657,000USD14,231,000USD6,839,000USD3,525,000USD
Total Current Assets—16,475,000USD17,593,000USD19,361,000USD13,046,000USD14,909,000USD8,606,000USD6,055,000USD
Current Deferred Revenue—150,000USD—150,000USD150,000USD150,000USD150,000USD270,000USD
Net Debt—-16,258,000USD-17,266,000USD-18,984,000USD-12,657,000USD-14,231,000USD-5,961,000USD-2,542,000USD
Net Receivables—217,000USD217,000USD217,000USD217,000USD467,000USD402,000USD237,000USD
Common Stock Shares Outstanding—6,729,855shares7,299,086shares6,241,658shares5,981,775shares5,721,892shares8,691,045shares8,691,045shares
Non Current Assets Total—0USD0USD0USD0USD0USD702,000USD1,138,000USD
Non Current Liabilities Total—150,000USD150,000USD150,000USD150,000USD150,000USD572,000USD811,000USD
Net Working Capital—8,746,000USD9,679,000USD9,921,000USD3,042,000USD3,759,000USD-4,003,000USD-8,983,000USD
Unclassified Equity—408,193,000USD407,898,000USD407,875,000USD400,530,000USD400,485,000USD392,229,000USD387,109,000USD
Property Plant Equipment Net——0USD0USD0USD0USD452,000USD513,000USD
Property Plant Equipment Gross——0USD0USD0USD0USD7,775,000USD7,786,000USD
Accumulated Other Comprehensive Income——273,000USD———611,000USD—
Short Term Debt——————456,000USD442,000USD
Short Long Term Debt Total——————878,000USD983,000USD
Non Currrent Assets Other——————250,000USD625,000USD
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Balance sheet Yearly

Exact reported values; units shown beside each amount. Missing values are —.
MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
Total Assets17,593,000USD9,308,000USD17,742,000USD92,422,000USD125,170,000USD109,900,000USD73,445,000USD42,754,000USD
Other Current Assets110,000USD1,365,000USD1,233,000USD3,196,000USD2,038,000USD1,715,000USD1,631,000USD1,015,000USD
Total Liab8,064,000USD13,181,000USD17,619,000USD46,149,000USD12,770,000USD11,465,000USD21,793,000USD6,358,000USD
Total Stockholder Equity9,529,000USD-3,873,000USD123,000USD46,273,000USD112,400,000USD98,435,000USD51,652,000USD36,396,000USD
Other Current Liab4,254,000USD4,689,000USD8,529,000USD7,664,000USD6,955,000USD5,719,000USD4,387,000USD4,231,000USD
Common Stock1,000USD5,000USD1,000USD11,000USD9,000USD7,000USD4,000USD3,000USD
Capital Stock1,000USD5,000USD1,000USD11,000USD9,000USD7,000USD4,000USD3,000USD
Retained Earnings-398,644,000USD-396,723,000USD-380,971,000USD-329,369,000USD-251,844,000USD-185,474,000USD-125,459,000USD-79,070,000USD
Cash17,266,000USD6,839,000USD6,234,000USD75,656,000USD109,618,000USD97,804,000USD61,413,000USD16,469,000USD
Cash And Short Term Investments17,266,000USD6,839,000USD6,234,000USD75,656,000USD109,618,000USD97,804,000USD61,413,000USD34,073,000USD
Total Current Assets17,593,000USD8,606,000USD11,346,000USD78,852,000USD111,706,000USD99,534,000USD63,063,000USD35,125,000USD
Total Current Liabilities7,914,000USD12,609,000USD15,371,000USD15,109,000USD10,815,000USD9,515,000USD7,771,000USD5,617,000USD
Current Deferred Revenue150,000USD150,000USD270,000USD270,000USD270,000USD-9,237,000USD——
Net Debt-17,266,000USD-5,961,000USD-3,736,000USD-44,274,000USD-107,585,000USD-95,576,000USD-45,884,000USD-16,469,000USD
Net Receivables217,000USD402,000USD3,879,000USD299,000USD50,000USD15,000USD19,000USD37,000USD
Accounts Payable3,510,000USD7,464,000USD6,322,000USD6,833,000USD3,512,000USD3,518,000USD1,877,000USD1,386,000USD
Property Plant Equipment Net0USD452,000USD4,813,000USD12,309,000USD12,102,000USD9,116,000USD9,132,000USD6,858,000USD
Property Plant Equipment Gross0USD7,775,000USD9,289,000USD12,309,000USD12,102,000USD9,116,000USD9,132,000USD6,858,000USD
Accumulated Other Comprehensive Income273,000USD611,000USD591,000USD1,109,000USD4,329,000USD7,939,000USD4,923,000USD2,085,000USD
Common Stock Shares Outstanding4,908,164shares6,128,323shares8,604,104shares6,895,506shares5,859,015shares3,505,918shares2,404,120shares1,796,624shares
Non Current Assets Total0USD702,000USD6,396,000USD13,570,000USD13,464,000USD10,366,000USD10,382,000USD7,629,000USD
Non Current Liabilities Total150,000USD572,000USD2,248,000USD31,040,000USD1,955,000USD1,950,000USD14,022,000USD741,000USD
Net Working Capital9,679,000USD-4,003,000USD-4,025,000USD63,743,000USD100,891,000USD90,019,000USD55,292,000USD29,508,000USD
Unclassified Equity407,898,000USD392,229,000USD380,501,000USD374,511,000USD359,897,000USD275,956,000USD172,180,000USD113,375,000USD
Short Term Debt—456,000USD520,000USD612,000USD348,000USD278,000USD1,507,000USD—
Short Long Term Debt Total—878,000USD2,498,000USD31,382,000USD2,033,000USD2,228,000USD15,529,000USD—
Non Currrent Assets Other—250,000USD1,583,000USD1,261,000USD1,362,000USD1,250,000USD250,000USD271,000USD
Unclassified Non Current Liabilities——2,248,000USD3,334,000USD1,685,000USD———
Other Liab———270,000USD270,000USD——741,000USD
Long Term Debt———27,436,000USD——12,179,000USD—
Other Assets————1,362,000USD2,837,000USD1,250,000USD771,000USD
Net Tangible Assets————112,400,000USD98,435,000USD51,652,000USD36,396,000USD
Unclassified Non Current Assets————-1,362,000USD-2,837,000USD——
Non Current Liabilities Other—————1,950,000USD1,843,000USD741,000USD
Short Long Term Debt——————1,250,000USD—
Short Term Investments——————0USD17,604,000USD
Unclassified Current Liabilities——————-1,250,000USD—
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Cash flow Quarterly

Exact reported values; units shown beside each amount. Missing values are —.
MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
Net Income-955,000USD-538,000USD-468,000USD-762,000USD-153,000USD-952,000USD-1,410,000USD-8,199,000USD
Depreciation0USD0USD0USD0USD41,000USD75,000USD51,000USD300,000USD
Stock Based Compensation22,000USD23,000USD23,000USD45,000USD38,000USD50,000USD42,000USD-618,000USD
Other Non Cash Items-54,000USD-458,000USD-398,000USD-796,000USD-178,000USD2,041,000USD738,000USD2,228,000USD
Change In Working Capital1,000USD-745,000USD25,000USD174,000USD-1,137,000USD-3,211,000USD-1,178,000USD3,954,000USD
Total Cash From Operating Activities-1,008,000USD-1,718,000USD-818,000USD-1,339,000USD-1,389,000USD-1,997,000USD-1,757,000USD-2,335,000USD
Capital Expenditures0USD0USD0USD0USD0USD0USD0USD0USD
Free Cash Flow-1,008,000USD-1,718,000USD-818,000USD-1,339,000USD-1,389,000USD-1,997,000USD-1,757,000USD-2,335,000USD
Total Cash From Financing Activities0USD0USD7,145,000USD-235,000USD7,616,000USD4,936,000USD1,014,000USD5,266,000USD
Issuance Of Capital Stock0USD0USD0USD-235,000USD7,616,000USD2,042,000USD1,163,000USD5,944,000USD
Change In Cash-1,008,000USD-1,718,000USD6,327,000USD-1,574,000USD7,392,000USD2,939,000USD-743,000USD2,931,000USD
Begin Period Cash Flow17,266,000USD18,984,000USD12,657,000USD14,231,000USD6,839,000USD3,900,000USD4,643,000USD1,337,000USD
End Period Cash Flow16,258,000USD17,266,000USD18,984,000USD12,657,000USD14,231,000USD6,839,000USD3,900,000USD4,268,000USD
Change To Account Receivables—435,000USD-435,000USD250,000USD185,000USD-165,000USD492,000USD3,026,000USD
Total Cashflows From Investing Activities—1,165,000USD-1,165,000USD—1,165,000USD———
Dividends Paid—-273,000USD——————
Other Cashflows From Financing Activities—273,000USD7,145,000USD-235,000USD7,616,000USD2,894,000USD-829,000USD5,266,000USD
Unclassified Investing Cash Flow—1,165,000USD-2,330,000USD—-1,165,000USD———
Investments——0USD0USD1,165,000USD0USD0USD0USD
Other Cashflows From Investing Activities——1,165,000USD—1,165,000USD———
Unclassified Financing Cash Flow————-7,616,000USD—2,627,000USD-5,944,000USD
Net Borrowings—————0USD0USD—
Sale Purchase Of Stock——————-784,000USD—
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Cash flow Yearly

Exact reported values; units shown beside each amount. Missing values are —.
MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
Net Income-1,921,000USD-15,752,000USD-51,602,000USD-77,525,000USD-66,370,000USD-60,015,000USD-46,389,000USD-30,662,000USD
Depreciation41,000USD823,000USD2,225,000USD3,031,000USD2,306,000USD1,785,000USD1,368,000USD630,000USD
Stock Based Compensation129,000USD-450,000USD568,000USD2,283,000USD3,308,000USD2,987,000USD2,664,000USD4,960,000USD
Other Non Cash Items-1,830,000USD4,597,000USD2,308,000USD3,115,000USD7,726,000USD14,831,000USD8,644,000USD3,360,000USD
Change To Account Receivables435,000USD494,000USD-3,580,000USD14,000USD-35,000USD4,000USD-19,000USD-35,000USD
Change In Working Capital-1,683,000USD-628,000USD-2,976,000USD4,030,000USD-637,000USD3,093,000USD132,000USD2,468,000USD
Total Cash From Operating Activities-5,264,000USD-11,410,000USD-49,477,000USD-65,066,000USD-53,667,000USD-37,319,000USD-33,581,000USD-19,244,000USD
Capital Expenditures0USD0USD-114,000USD-3,079,000USD-5,366,000USD-4,412,000USD-3,695,000USD-7,945,000USD
Free Cash Flow-5,264,000USD-11,410,000USD-49,591,000USD-68,145,000USD-59,033,000USD-41,731,000USD-37,276,000USD-27,189,000USD
Total Cashflows From Investing Activities1,165,000USD—5,886,000USD-2,952,000USD-5,366,000USD-4,412,000USD13,909,000USD557,000USD
Total Cash From Financing Activities14,526,000USD11,265,000USD-26,081,000USD34,056,000USD70,847,000USD78,122,000USD65,116,000USD181,000USD
Dividends Paid-273,000USD-611,000USD-477,000USD—————
Issuance Of Capital Stock7,381,000USD9,149,000USD164,000USD6,623,000USD71,919,000USD97,035,000USD54,140,000USD0USD
Change In Cash10,427,000USD-145,000USD-69,672,000USD-33,962,000USD11,814,000USD36,391,000USD45,444,000USD-18,506,000USD
Begin Period Cash Flow6,839,000USD6,984,000USD76,656,000USD110,618,000USD98,804,000USD62,413,000USD16,969,000USD35,475,000USD
End Period Cash Flow17,266,000USD6,839,000USD6,984,000USD76,656,000USD110,618,000USD98,804,000USD62,413,000USD16,969,000USD
Other Cashflows From Investing Activities1,165,000USD—5,950,000USD-238,000USD-1,380,000USD-2,487,000USD16,254,000USD-1,075,000USD
Other Cashflows From Financing Activities273,000USD2,727,000USD-267,000USD-2,567,000USD-1,072,000USD-3,163,000USD-4,024,000USD181,000USD
Unclassified Financing Cash Flow7,145,000USD—4,115,000USD——61,844,000USD40,996,000USD-15,181,000USD
Investments—0USD5,496,000USD-2,952,000USD-5,366,000USD-4,412,000USD17,604,000USD8,502,000USD
Net Borrowings—0USD-30,375,000USD30,000,000USD0USD-15,750,000USD-1,393,000USD15,000,000USD
Sale Purchase Of Stock——923,000USD——35,191,000USD29,537,000USD181,000USD
Unclassified Investing Cash Flow——-5,446,000USD3,317,000USD6,746,000USD6,899,000USD-16,254,000USD1,075,000USD
Change To Inventory———-14,000USD35,000USD-4,000USD19,000USD—
Change To Liabilities————-138,000USD3,151,000USD360,000USD2,569,000USD
Cash And Cash Equivalents Changes—————36,391,000USD45,444,000USD-18,506,000USD
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Operating metrics

No operating metrics are currently published for this company.

Revenue breakdown

No revenue breakdown is currently published for this company.

Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.