Highest-materiality recent filing
Mustang Bio receives Nasdaq deficiency notice for bid price below $1.00
Received Nasdaq notice on April 15, 2026 for non-compliance with minimum bid price rule after 30 consecutive business days below $1.00.
Mustang Bio terminates CD20 CAR-T license with Fred Hutch, pays $730K to settle $1.4M in payables
Terminated CD20 CAR-T license with Fred Hutch; agreed to pay $730,000 to settle ~$1.4M in outstanding payables.
FDA granted Orphan Drug Designation to MB-101 for recurrent diffuse/anaplastic astrocytoma and glioblastoma.
Received Feb 26, 2025 notice from Nasdaq confirming compliance with minimum stockholders' equity rule (Rule 5550(b)(1)).
Mustang Bio sells fixed assets to AbbVie for $1M, exits Worcester facility
Closed sale of furniture, fixtures, equipment to AbbVie for $1.0M; lease terminated.
Mustang Bio shareholders approve issuance of up to 5.48M shares underlying warrants
Written consent signed by holders of ~56% of voting power authorizing warrant share issuance under Nasdaq Rule 5635(d).
Mustang Bio sells FF&E for $1M, terminates Worcester lease; expects ~$2M savings
Sold FF&E to AbbVie for $1.0M cash; lease termination expected to save ~$2.0M in lease obligations.
Mustang Bio closes $8M public offering, regains Nasdaq minimum bid compliance
Priced $8M offering of 2.66M shares (or equivalents) and Series C-1/C-2 warrants at $3.01 per unit; closed Feb 10, 2025.
Mustang Bio effects 1-for-50 reverse stock split to regain Nasdaq compliance
Outstanding shares reduced from ~64.8M to ~1.3M; split effective Jan 15, 2025.
Mustang Bio stockholders authorize issuance of up to 34.8M shares underlying warrants
Stockholders representing ~57% voting power executed written consent approving warrant share issuance.
Mustang Bio shareholders elect seven directors, ratify KPMG as auditor
All seven director nominees elected with at least 58.3M votes for each; broker non-votes none.
Mustang Bio receives Nasdaq delist notice but granted extension; interim CFO resigns, CEO takes over
Nasdaq Staff issued delist determination on Nov 13, 2024 for non-compliance with bid price rule.
Mustang Bio schedules Dec 26, 2024 annual meeting; sets proposal deadlines Nov 16/18
Annual meeting set for December 26, 2024; time/location to be in proxy statement.
Mustang Bio raises $4M via warrant exercise; appoints David Jin to board
Investor exercised 16,877,638 existing warrants at $0.237/share for ~$4M gross proceeds, before fees.
Mustang Bio receives Nasdaq delisting notice for failure to meet equity requirement
Nasdaq Staff determined to delist MBIO due to non-compliance with $2.5M stockholders' equity requirement by Sept 9, 2024 extension deadline.
Company to repurchase assets from uBriGene for $1,395,138; $100K upfront, $1,295,138 deferred for 12 months with possible extensions.
Mustang Bio raises $2.5M in registered direct offering and private placement
Issued 3,025,000 common shares and 3,105,000 pre-funded warrants (collectively 6,130,000 shares/equivalents) at $0.41/unit.
Mustang Bio enters $5.6M ATM offering with H.C. Wainwright; terminates prior $100M agreement
May 31, 2024: ATM Offering Agreement with H.C. Wainwright for up to $5.6M of common stock; 3.0% commission to manager.
Mustang Bio receives second Nasdaq deficiency notice; stock bid below $1 for 31 days
Nasdaq notified Mustang Bio on May 16, 2024 that bid price closed below $1 for 31 consecutive business days.
Mustang Bio closes $4M public offering of shares and warrants; amends existing warrants
Gross proceeds of $4M from offering of shares and warrants at $0.237 per combined unit.
Mustang Bio prelim Q1 cash $1.3M, operating burn $5.3M, cash runway concerns
Preliminary cash and equivalents as of March 31, 2024: approximately $1.3 million.
Mustang Bio cuts workforce by 81% amid CFIUS uncertainty and facility sale to uBriGene
Board approved ~81% workforce reduction to reduce costs and preserve capital due to fundraising environment and CFIUS review of facility sale.
Mustang Bio provides CFIUS update on facility sale to uBriGene; investigation due by May 13, 2024
Transaction involves sale of Worcester cell processing facility and manufacturing assets to uBriGene.
Mustang Bio receives Nasdaq delisting notice for equity shortfall; 45 days to submit compliance plan
Stockholders' equity of $123,000 falls short of Nasdaq's $2.5M minimum for continued listing.
Mustang Bio reports FY2023 net loss of $51.6M; cash drops to $7.0M; MB-106 data positive
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.
Mustang Bio and uBriGene withdraw and re-file CFIUS notice; new 45-day review period begins Feb 13
On Feb 12, 2024, CFIUS granted request to withdraw and re-file the joint voluntary notice for the transaction.
Mustang Bio appoints James Murphy as Interim CFO effective Jan 19, 2024
James Murphy appointed Interim CFO, serving as Principal Financial and Accounting Officer.
CFIUS began a 45-day investigation after the initial review period expired on Dec 28, 2023 without conclusion.
Mustang Bio Interim CFO Eliot Lurier passes away; CEO Litchman named Interim CFO
Eliot Lurier, Interim CFO since April 2022, passed away unexpectedly on December 8, 2023.
Mustang Bio: MB-106 achieves 100% complete response in follicular lymphoma in Phase 1/2
100% complete response rate in 5 follicular lymphoma patients; 100% overall response in follicular and Waldenstrom macroglobulinemia.
Mustang Bio Q3 net loss narrows to $10.1M; cash drops to $10.3M, raises $4.4M post-quarter
Cash and equivalents $10.3M at Sep 30, down from $16.1M at Jun 30 and $76.7M at Dec 31, 2022.
Mustang Bio's MB-106 CAR-T interim data selected for ASH; complete responses in FL
Interim Phase 1/2 data for MB-106 (CD20-targeted CAR-T) accepted as poster at ASH Dec 9-12, 2023.
Mustang Bio raises ~$4.4M in registered direct offering with warrants
Gross proceeds of ~$4.4M before fees; offering includes 2,588,236 shares (or equivalents) at $1.70 each.
FDA accepts IND for Mustang Bio's MB-109 combo therapy for recurrent glioblastoma
IND accepted within 30 days of submission for MB-109 (MB-101 CAR-T + MB-108 oncolytic virus).
CFIUS extends review of Mustang Bio facility sale to uBriGene into second 45-day phase
CFIUS initial 45-day review completed Sep 28, 2023 but not concluded; transitions to second 45-day investigation.
Clinical responses in 4 of 4 indolent lymphoma patients at starting dose 3.3x10^6 CAR T cells/kg; 2 follicular lymphoma patients achieved CR.
Mustang Bio Q2 net loss $16.2M; completes uBriGene asset sale for $6M
Cash and equivalents $16.1M at June 30, down from $76.7M at Dec 31, 2022, reflecting Runway loan repayment.
Mustang Bio closes amended asset sale to uBriGene for $6M upfront; cash runway into early 2024
Closed amended asset purchase agreement with uBriGene on July 28, 2023; received $6M upfront cash.
Mustang Bio downsizes Worcester office; annual rent to drop from ~$583K to ~$246K
Relocation from 26,503 sq ft to 11,916 sq ft on second floor; rent abated until March 1, 2024.
Mustang Bio terminates UCLA license for PSCA CAR T program, ends MB-105 development
Terminated UCLA License Agreement for PSCA CAR T technology, effective ~Aug 9, 2023.
Mustang Bio extends asset sale deadline for Worcester facility to July 31, 2023
Mustang Bio and uBriGene amended Asset Purchase Agreement to extend Outside Date from June 30 to July 31, 2023.
Mustang Bio stockholders approve ESPP amendment increasing shares to 466,666
Stockholders approved ESPP amendment increasing shares from 66,666 to 466,666 and purchase right to 5,000.
Sells Worcester cell processing facility to uBriGene for $6M upfront plus $5M contingent on $10M equity raise.
Mustang Bio Q1 net loss $16.7M, cash $58.8M; MB-106 trial data expected Q2
Cash and cash equivalents $58.8M at Mar 31, 2023, down $17.9M from Dec 31, 2022.
Mustang Bio amends ATM equity program; up to $100M authorized, ~$8M remaining
Amendment No. 3 to At Market Issuance Sales Agreement dated April 14, 2023.
Mustang Bio terminates $75M Runway loan, pays $30.7M payoff
Terminated Runway Loan Agreement (March 4, 2022) on April 11, 2023.
Mustang Bio effects 15-for-1 reverse stock split to regain Nasdaq compliance
Reverse split effective April 3, 2023; shares trade split-adjusted April 4.
Mustang Bio reports FY2022 net loss $77.5M; MB-106 shows 96% ORR, 75% CR
Cash and equivalents $76.7M at Dec 31, 2022, down from $110.6M year-over-year.
Mustang Bio shareholders authorize board to effect reverse stock split up to 20:1
Holders of ~62.2% voting power signed written consent approving reverse stock split.
Mustang Bio amends $75M loan agreement to replace LIBOR with SOFR-based rates
First Amendment to $75M Loan Agreement with Runway Growth Finance Corp., dated Dec 7, 2022.
On November 12, 2024, James Murphy resigned as the Company’s Interim Chief Financial Officer.
On November 15, 2024, the Company’s Board of Directors (the “Board”) appointed Manuel Litchman, M.D., President and Chief Executive Officer of the Company, as the Company’s Interim Chief Financial Officer, effective immediately.
On October 23, 2024, the Board of Directors (the “Board”) of the Company increased the number of directors on the Board from six to seven and appointed David Jin as a new member of the Board.
On January 19, 2024, Mustang Bio, Inc. (the “Company”) appointed James Murphy as the Company’s Interim Chief Financial Officer.
Also on December 11, 2023, the Board appointed Peter Carney, Controller of the Company, as the Company’s Interim Chief Accounting Officer, effective immediately.
On December 11, 2023, the Board of Directors of the Company (the “Board”) appointed Manuel Litchman, M.D., President and Chief Executive Officer of the Company, as the Company’s Interim Chief Financial Officer, effective immediately.
On December 8, 2023, Eliot Lurier, the Interim Chief Financial Officer of Mustang Bio, Inc. (the “Company” or “Mustang”), passed away unexpectedly.
On April 18, 2022, Mustang Bio, Inc. (the “Company”) appointed Eliot M. Lurier as the Company’s Interim Chief Financial Officer.
On March 11, 2022, Mr. Brian Achenbach notified Mustang Bio, Inc. (the “Company”) that he was resigning from his role as the Company’s Senior Vice President of Finance & Corporate Controller, effective March 27, 2022, to pursue an opportunity outside of the Company.
Max materiality 0.85 · Median 0.60 · Most common event other_material