---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005022"
form_type: "8-K"
ticker: "MBIO"
cik: "0001680048"
company_name: "MUSTANG BIO, INC."
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:25:25.295177+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Mustang Bio cuts workforce by 81% amid CFIUS uncertainty and facility sale to uBriGene

## Summary
- Board approved ~81% workforce reduction to reduce costs and preserve capital due to fundraising environment and CFIUS review of facility sale.
- Workforce reduction expected substantially complete in Q2 2024; expects ~$0.2M in one-time termination cash expenditures.
- Company continues to evaluate all strategic and other alternatives related to the business.
- Sale of leasehold interest and assets to uBriGene (Chinese CDMO) pending CFIUS review; terms not disclosed.

## SEC filing metadata
- accession: 0001558370-24-005022
- form_type: 8-K
- ticker: MBIO
- cik: 0001680048
- company_name: MUSTANG BIO, INC.
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1680048/000155837024005022/0001558370-24-005022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1680048/000155837024005022/tmb-20240410x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005022
- JSON: https://secwatch.observer/filing/0001558370-24-005022.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005022.txt

## Key facts
- Restructurings & Charges
  MUSTANG BIO, INC. announced a restructuring with charges of approximately $0.2 million (approximately 81% of its employee base).
  - Type: restructuring
  - Charge: approximately $0.2 million
  - Headcount: approximately 81% of its employee base
  source text: to be substantially completed in the second quarter of 2024. As a result of these actions, Mustang expects to incur personnel-related restructuring charges of approximately $0.2 million in connection with one-time employee termination cash expenditures, which are expected to be incurred in the second quarter of 2024. Mustang may also incur other charges or cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1680048/000155837024005022/0001558370-24-005022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.