Mustang Bio receives second Nasdaq deficiency notice; stock bid below $1 for 31 days

MUSTANG BIO, INC.

Nasdaq notified Mustang Bio on May 16, 2024 that bid price closed below $1 for 31 consecutive business days.
Company has 180 days, until November 12, 2024, to regain compliance by closing at $1.00 or more for 10+ days.
Prior stockholders' equity deficiency: Nasdaq granted extension through September 9, 2024 to regain compliance.
If not cured, Mustang may seek a second grace period or request a hearing to avoid delisting.
No decision yet on reverse stock split or other remedy; delisting risk remains if compliance is not achieved.

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