MUSTANG BIO, INC. MBIO

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

Mustang Bio, Inc. ("Mustang," "we," "us," "our" or the "Company") is a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs into potential cures for difficult-to-treat cancers. We aim to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market.

Our pipeline is currently focused on novel therapies for solid tumors. For these therapies we have partnered with world class research institutions, including the City of Hope National Medical Center ("COH" or "City of Hope"), and Nationwide Children's Hospital ("Nationwide").

Last close 0.37 2026-10-23
Market cap $2.5M estimated share count
52-week range 0.36 - 1.52

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
R&D ———————$2.1M$100.0K$2.0M
SG&A $3.9M$4.1M$9.7M$12.2M$11.0M$9.5M$9.6M$6.8M$11.4M$2.8M
Total operating expenses $2.4M$16.2M$49.3M$76.2M$66.7M$56.8M$45.9M$31.2M$31.8M$11.4M
Operating income -$2.4M-$16.2M-$49.3M-$76.2M-$66.7M-$56.8M-$45.9M-$31.2M-$31.8M-$11.4M
Pre-tax income -$1.9M-$15.8M————————
Income tax $27.0K—————————
Net income -$1.9M-$15.8M-$51.6M-$77.5M-$66.4M-$60.0M-$46.4M-$30.7M-$31.3M-$12.7M
EPS, basic -0.39-38.57-299.95-10.09-0.76—————
EPS, diluted -0.39-38.57-299.95-10.09-0.76-1.14-1.29-1.14-1.24-1.15
Shares, diluted (wtd. avg.) 4.9M609,696172,0317.7M87.9M—————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $17.3M$6.8M$7.0M$76.7M$110.6M$98.8M$62.4M$17.0M$35.5M$27.5M
Short-term investments ——————$0$17.6M——
Total current assets $17.6M$8.6M$11.3M$78.9M$111.7M$99.5M$63.1M$35.1M$61.4M$27.5M
Property, plant and equipment $0$371.0K$3.2M$8.4M$11.1M$8.0M$7.9M$6.9M$1.4M—
Total assets $17.6M$9.3M$17.7M$92.4M$125.2M$109.9M$73.4M$42.8M$63.5M$27.5M
Accounts payable $3.5M$7.5M$6.3M$6.8M$3.5M$3.5M$1.9M$1.4M$3.5M$683.0K
Short-term debt —————$0$1.2M$0——
Total current liabilities $7.9M$12.6M$15.4M$15.1M$10.8M$9.5M$7.8M$5.6M$3.6M$3.2M
Total liabilities $8.1M$13.2M$17.6M$46.1M$12.8M$11.5M$21.8M$6.4M$3.7M$3.2M
Retained earnings -$398.6M-$396.7M-$381.0M-$329.4M-$251.8M-$185.5M-$125.5M-$79.1M-$48.4M-$17.1M
Total equity $9.5M-$3.9M$123.0K$46.3M$112.4M$98.4M$51.7M$36.4M$59.8M$24.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$5.3M-$11.4M-$49.5M-$65.1M-$53.7M-$37.3M-$33.6M-$19.2M-$12.9M-$4.1M
Depreciation and amortisation $34.0K$671.0K$1.9M$2.7M$2.2M$1.7M$1.3M$630.0K$2.0K$0
Stock-based compensation $129.0K-$450.0K$568.0K$2.3M$3.3M$3.0M$2.7M$5.0M$2.0M$0
Capital expenditure —$0$64.0K$2.7M$4.0M$1.9M$2.3M$6.9M$424.0K—
Investing cash flow $1.2M$0$5.9M-$3.0M-$5.4M-$4.4M$13.9M$557.0K-$29.1M$0
Financing cash flow $14.5M$11.3M-$26.1M$34.1M$70.8M$78.1M$65.1M$181.0K$50.0M$31.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-032063.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -80M -60M -40M -20M 0 Net income, FY2016: -12.7M Net income, FY2017: -31.3M Net income, FY2018: -30.7M Net income, FY2019: -46.4M Net income, FY2020: -60M Net income, FY2021: -66.4M Net income, FY2022: -77.5M Net income, FY2023: -51.6M Net income, FY2024: -15.8M Net income, FY2025: -1.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — — — — — — — — —
Gross profit — — — — — — — — — —
Net income -$12.7M -$31.3M -$30.7M -$46.4M -$60.0M -$66.4M -$77.5M -$51.6M -$15.8M -$1.9M

Recent filings and events

  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Annual report filed Form 10-K
  • Other event Item 8.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Other event Item 8.01
  • Shareholder vote Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 2834

TickerCompanyMarket capP/ERevenue growth
LLY ELI LILLY & Co $1.20T 55.5x 44.7%
JNJ JOHNSON & JOHNSON $635.76B 23.9x 6.0%
ABBV AbbVie Inc. $504.76B 121.0x 8.6%
MRK Merck & Co., Inc. $358.41B 20.0x 1.3%
ABT ABBOTT LABORATORIES $180.63B 27.9x 5.7%
PFE PFIZER INC $171.16B 22.1x -1.6%
VRTX VERTEX PHARMACEUTICALS INC / MA $132.80B 34.2x 8.9%
BMY BRISTOL MYERS SQUIBB CO $125.59B 17.8x -0.2%