MBIO

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Mustang Bio, Inc.

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Key Metrics

Previous Close: $0.57
52-Week Range: $0.53 – $1.85
Market Cap: $4.34M
P/E (TTM): —
EPS (TTM): -0.42
Dividend Yield: —

Advanced Metrics

Price/Book: 0.58
PEG Ratio: —
Return on Equity: -58.12%
Return on Assets: -15.36%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 1.97
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $-4.27M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $-10.80M

MBIO Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$63.95M	$41.04M	$8.42M	-$1.52M
Selling, General & Admin	$12.21M	$9.69M	$4.13M	$3.95M
Operating Expenses	$76.16M	$50.73M	$12.55M	$2.43M
Operating Income	-$76.16M	-$50.73M	-$12.55M	-$2.43M
EBITDA	-$71.14M	-$48.06M	-$11.73M	-$2.39M
Pretax Income	-$77.53M	-$51.60M	-$15.75M	-$1.92M
Net Income	-$77.53M	-$51.60M	-$15.75M	-$1.92M
Diluted EPS	-562.50	-299.95	-38.57	-0.39
Diluted Shares	137910	172031	609696	4.91M

MBIO Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$75.66M	$6.23M	$6.84M	$17.27M
Receivables	$299.00K	$3.88M	$402.00K	$217.00K
Current Assets	$78.85M	$11.35M	$8.61M	$17.59M
Total Assets	$92.42M	$17.74M	$9.31M	$17.59M
Current Liabilities	$15.11M	$15.37M	$12.61M	$7.91M
Long-Term Debt	$27.44M	—	—	—
Total Debt	$31.38M	$2.50M	$878.00K	$0.00
Total Liabilities	$46.15M	$17.62M	$13.18M	$8.06M
Retained Earnings	-$329.37M	-$380.97M	-$396.72M	-$398.64M
Shareholders' Equity	$46.27M	$123.00K	-$3.87M	$9.53M
Working Capital	$63.74M	-$4.03M	-$4.00M	$9.68M

MBIO Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$65.07M	-$49.48M	-$11.41M	-$5.26M
Capital Expenditure	-$3.08M	-$114.00K	—	—
Free Cash Flow	-$68.14M	-$49.59M	-$11.41M	-$5.26M
Depreciation & Amortisation	$3.03M	$2.23M	$823.00K	$41.00K
Stock-Based Compensation	$2.28M	$568.00K	-$450.00K	$129.00K
Investing Cash Flow	-$2.95M	$5.89M	$0.00	$1.17M
Financing Cash Flow	$34.06M	-$26.08M	$11.27M	$14.53M
Net Change in Cash	-$33.96M	-$69.67M	-$145.00K	$10.43M

MBIO Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	-$964.00K	$98.00K	-$333.00K	-$317.00K	$178.00K
Selling, General & Admin	$1.22M	$787.00K	$957.00K	$987.00K	$880.00K
Operating Expenses	$253.00K	$885.00K	$624.00K	$670.00K	$1.06M
Operating Income	-$253.00K	-$885.00K	-$624.00K	-$670.00K	-$1.06M
EBITDA	-$212.00K	-$885.00K	-$624.00K	-$670.00K	-$1.06M
Pretax Income	-$153.00K	-$762.00K	-$468.00K	-$538.00K	-$955.00K
Net Income	-$153.00K	-$762.00K	-$468.00K	-$538.00K	-$955.00K
Diluted EPS	-0.05	-0.19	-0.07	—	-0.14
Diluted Shares	2.86M	4.02M	6.24M	—	6.73M

MBIO Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$14.23M	$12.66M	$18.98M	$17.27M	$16.26M
Receivables	$467.00K	$217.00K	$217.00K	$217.00K	$217.00K
Current Assets	$14.91M	$13.05M	$19.36M	$17.59M	$16.58M
Total Assets	$14.91M	$13.05M	$19.36M	$17.59M	$16.58M
Current Liabilities	$11.15M	$10.00M	$9.44M	$7.91M	$7.84M
Total Debt	$0.00	$0.00	$0.00	$0.00	—
Total Liabilities	$11.30M	$10.15M	$9.59M	$8.06M	$7.99M
Retained Earnings	-$396.88M	-$397.64M	-$398.11M	-$398.64M	-$399.60M
Shareholders' Equity	$3.61M	$2.89M	$9.77M	$9.53M	$8.60M
Working Capital	$3.76M	$3.04M	$9.92M	$9.68M	$8.75M

MBIO Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$1.39M	-$1.34M	-$818.00K	-$1.72M	-$1.01M
Free Cash Flow	-$1.39M	-$1.34M	-$818.00K	-$1.72M	-$1.01M
Depreciation & Amortisation	$41.00K	$0.00	$0.00	$0.00	$0.00
Stock-Based Compensation	$38.00K	$45.00K	$23.00K	$23.00K	$22.00K
Investing Cash Flow	$1.17M	$0.00	$0.00	$0.00	$0.00
Financing Cash Flow	$7.62M	-$235.00K	$7.14M	$0.00	$0.00
Net Change in Cash	$7.39M	-$1.57M	$6.33M	-$1.72M	-$1.01M

Market Snapshot

About

Mustang Bio is a clinical-stage biopharmaceutical company focused on developing novel cell and gene therapies for hematologic cancers, solid tumors, and rare genetic diseases.