Mustang Bio Q1 net loss $16.7M, cash $58.8M; MB-106 trial data expected Q2

MUSTANG BIO, INC.

2023-Q1 EPS reported -$2.06

Cash and cash equivalents $58.8M at Mar 31, 2023, down $17.9M from Dec 31, 2022.
Net loss $16.7M ($2.06/share) vs $19.8M ($2.71/share) in Q1 2022; R&D expenses $14.0M.
MB-106 (CD20 CAR T) shows 96% ORR and 75% CR in Fred Hutch trial; multicenter trial accruing.
Orphan Drug Designation for MB-106 in Waldenstrom macroglobulinemia; pivotal Phase 2 may start Q1 2024.
In April 2023, executed 15-for-1 reverse stock split and repaid $30.7M loan to Runway.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MUSTANG BIO, INC. reported the first quarter ended March 31, 2023 results: net income Net loss attributable to common stockholders was $16.7 million, or $2.06 per share.

Period: the first quarter ended March 31, 2023
Net income: Net loss attributable to common stockholders was $16.7 million, or $2.06 per share
Result: reported results

Exact text from the filing

On May 12, 2023, Mustang Bio, Inc. issued a press release to provide a corporate update and to announce its financial results for the first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001558370-23-009622

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