Mustang Bio reports FY2023 net loss of $51.6M; cash drops to $7.0M; MB-106 data positive

MUSTANG BIO, INC.

Cash and cash equivalents $7.0M at Dec 31, 2023, down from $76.7M at Dec 31, 2022; $30.4M debt termination payment in 2023.
Net loss $51.6M ($6.00/share) vs $77.5M ($10.09/share) in 2022; R&D spend $40.5M vs $62.5M.
MB-106 Phase 1/2 multicenter trial: 100% ORR in FL (n=5 all CR) and WM (n=3 with VGPR/PR); no severe CRS/ICANS.
Registrational trial in Waldenstrom macroglobulinemia planned H2 2024; topline expected H2 2026; RMAT designation request H1 2024.
Closed uBriGene asset sale for $6M upfront; $5M contingent; lease assignment subject to CFIUS review.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MUSTANG BIO, INC. reported the fiscal year ended December 31, 2023 results: net income $51.6 million, EPS $6.00 per share.

Period: the fiscal year ended December 31, 2023
Net income: $51.6 million
EPS: $6.00 per share
Result: reported results

Exact text from the filing

On March 11, 2024, Mustang Bio, Inc. issued a press release to provide a corporate update and to announce its financial results for the fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001104659-24-033015

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