Mustang Bio wins second Nasdaq grace period to April 12, 2027; reverse stock split possible

MUSTANG BIO, INC.

• Nasdaq staff granted MBIO an additional 180-calendar-day period, until April 12, 2027, to regain the $1.00 minimum bid price requirement.
• Company failed to regain compliance by the initial deadline of October 12, 2026, set after the April 15, 2026 deficiency notice.
• Original notice: common stock closed below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
• Compliance requires a closing bid of at least $1.00 for 10 consecutive business days (generally not more than 20).
• Mustang Bio told Nasdaq it may effect a reverse stock split if necessary; if it fails, staff would notify of delisting, appealable to the Nasdaq Hearings Panel without pausing any trading suspension.