NASDAQ : MBIO
Mustang Bio, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 0.4001 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.03M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 3.77M | 3.95M | 4.13M | 9.69M | 12.21M | 11.02M |
| Research & Development | -248.00K | -1.52M | 8.42M | 41.04M | 63.95M | 55.71M |
| Operating Expenses | 3.52M | 2.43M | 12.55M | 50.73M | 76.16M | 66.72M |
| Operating Income | -3.52M | -2.43M | -12.55M | -50.73M | -76.16M | -66.72M |
| Interest Expense | -4.11M | -3.36M | -15.00K | |||
| Interest & Investment Income | 489.00K | 511.00K | 179.00K | 850.00K | 689.00K | 368.00K |
| Other Non Operating Income (Expenses) | 314.00K | 717.00K | 1.30M | |||
| EBT Excluding Unusual Items | -3.03M | -1.92M | -12.06M | -53.27M | -77.53M | -66.37M |
| Gain (Loss) on Sale of Assets | 1.47M | |||||
| Asset Writedown | -3.69M | |||||
| Other Unusual Items | 200.00K | |||||
| Pretax Income | -3.03M | -1.92M | -15.75M | -51.60M | -77.53M | -66.37M |
| Net Income | -3.03M | -1.92M | -15.75M | -51.60M | -77.53M | -66.37M |
| Net Income to Common | -3.03M | -1.92M | -15.75M | -51.60M | -77.53M | -66.37M |
| Shares Outstanding (Basic) | 6.55M | 4.91M | 609.70K | 172.03K | 153.69K | 117.18K |
| Shares Outstanding (Diluted) | 6.55M | 4.91M | 609.70K | 172.03K | 153.69K | 117.18K |
| EPS (Basic) | -0.46 | -0.39 | -25.84 | -299.96 | -504.42 | -566.39 |
| EPS (Diluted) | -0.46 | -0.39 | -25.84 | -299.96 | -504.42 | -566.39 |
| Free Cash Flow | -4.51M | -5.26M | -11.41M | -49.54M | -67.78M | -57.65M |
| Free Cash Flow Per Share | -0.69 | -1.07 | -18.71 | -287.98 | -441.02 | -492.00 |
| EBITDA | -3.50M | -2.40M | -11.88M | -48.87M | -73.44M | -64.56M |
| D&A For EBITDA | 17.00K | 34.00K | 671.00K | 1.86M | 2.72M | 2.17M |
| EBIT | -3.52M | -2.43M | -12.55M | -50.73M | -76.16M | -66.72M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 15.15M | 17.27M | 6.84M | 6.23M | 75.66M | 109.62M |
| Cash & Short-Term Investments | 15.15M | 17.27M | 6.84M | 6.23M | 75.66M | 109.62M |
| Other Receivables | 217.00K | 217.00K | 402.00K | 3.88M | 299.00K | 50.00K |
| Receivables | 217.00K | 217.00K | 402.00K | 3.88M | 299.00K | 50.00K |
| Prepaid Expenses | 246.00K | 110.00K | 200.00K | 1.23M | 2.90M | 2.04M |
| Other Current Assets | 1.17M | |||||
| Total Current Assets | 15.61M | 17.59M | 8.61M | 11.35M | 78.85M | 111.71M |
| Property, Plant & Equipment | 452.00K | 4.81M | 12.31M | 12.10M | ||
| Other Long-Term Assets | 250.00K | 1.58M | 1.26M | 1.36M | ||
| Total Assets | 15.61M | 17.59M | 9.31M | 17.74M | 92.42M | 125.17M |
| Accounts Payable | 3.21M | 3.51M | 7.46M | 6.32M | 6.83M | 3.51M |
| Accrued Expenses | 3.12M | 2.78M | 3.09M | 7.79M | 7.02M | 6.40M |
| Current Portion of Leases | 456.00K | 520.00K | 612.00K | 348.00K | ||
| Other Current Liabilities | 1.58M | 1.63M | 1.60M | 739.00K | 648.00K | 554.00K |
| Total Current Liabilities | 7.92M | 7.91M | 12.61M | 15.37M | 15.11M | 10.81M |
| Long-Term Debt | 27.44M | |||||
| Long-Term Leases | 422.00K | 1.98M | 3.33M | 1.69M | ||
| Long-Term Unearned Revenue | 150.00K | 150.00K | 150.00K | 270.00K | 270.00K | 270.00K |
| Total Liabilities | 8.07M | 8.06M | 13.18M | 17.62M | 46.15M | 12.77M |
| Common Stock | 1.00K | 1.00K | 5.00K | 1.00K | 11.00K | 9.00K |
| Additional Paid-In Capital | 408.21M | 407.90M | 392.23M | 380.50M | 374.52M | 359.91M |
| Retained Earnings | -400.67M | -398.64M | -396.72M | -380.97M | -329.37M | -251.84M |
| Comprehensive Income & Other | 273.00K | 611.00K | 591.00K | 1.11M | 4.33M | |
| Shareholders' Equity | 7.54M | 9.53M | -3.87M | 123.00K | 46.27M | 112.40M |
| Total Liabilities & Equity | 15.61M | 17.59M | 9.31M | 17.74M | 92.42M | 125.17M |
| Total Debt | 878.00K | 2.50M | 31.38M | 2.03M | ||
| Net Cash (Debt) | 15.15M | 17.27M | 5.96M | 3.74M | 44.27M | 107.58M |
| Net Cash Per Share | 2.31 | 3.52 | 9.78 | 21.72 | 288.07 | 918.12 |
| Filing Date Shares Outstanding | 7.58M | 7.58M | 3.30M | 1.03M | 990.57K | 977.60K |
| Total Common Shares Outstanding | 7.58M | 7.30M | 1.83M | 1.01M | 986.71K | 969.79K |
| Working Capital | 7.70M | 9.68M | -4.00M | -4.03M | 63.74M | 100.89M |
| Book Value Per Share | 1.00 | 1.31 | -2.12 | 0.12 | 46.90 | 115.90 |
| Tangible Book Value | 7.54M | 9.53M | -3.87M | 123.00K | 46.27M | 112.40M |
| Tangible Book Value Per Share | 1.00 | 1.31 | -2.12 | 0.12 | 46.90 | 115.90 |
| Machinery | 9.15M | 7.07M | ||||
| Construction In Progress | 29.00K | 951.00K | 2.03M | |||
| Leasehold Improvements | 7.69M | 7.69M | 7.69M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -3.03M | -1.92M | -15.75M | -51.60M | -77.53M | -66.37M |
| Depreciation & Amortization | 41.00K | 823.00K | 2.23M | 3.03M | 2.31M | |
| Other Amortization | 118.00K | 470.00K | ||||
| Loss (Gain) From Sale of Assets | 29.00K | -1.47M | 255.00K | |||
| Asset Writedown & Restructuring Costs | 3.94M | 50.00K | 365.00K | 1.63M | ||
| Stock-Based Compensation | 89.00K | 129.00K | -450.00K | 568.00K | 2.28M | 3.31M |
| Other Operating Activities | -965.00K | -1.83M | -1.76M | 3.61M | 2.02M | 6.10M |
| Change in Accounts Receivable | 435.00K | 494.00K | -3.58M | -1.00K | -35.00K | |
| Change in Accounts Payable | -705.00K | -1.97M | -591.00K | 125.00K | 5.26M | -408.00K |
| Change in Unearned Revenue | -120.00K | 270.00K | ||||
| Change in Other Net Operating Assets | 103.00K | -147.00K | 1.97M | 479.00K | -1.23M | -464.00K |
| Operating Cash Flow | -4.51M | -5.26M | -11.41M | -49.48M | -65.07M | -53.67M |
| Capital Expenditures | -64.00K | -2.71M | -3.99M | |||
| Sale of Property, Plant & Equipment | 1.17M | 6.00M | 127.00K | |||
| Sale (Purchase) of Intangibles | -50.00K | -365.00K | -1.38M | |||
| Investing Cash Flow | 1.17M | 5.89M | -2.95M | -5.37M | ||
| Long-Term Debt Issued | 30.00M | |||||
| Total Debt Issued | 30.00M | |||||
| Long-Term Debt Repaid | -30.38M | |||||
| Total Debt Repaid | -30.38M | |||||
| Net Debt Issued (Repaid) | -30.38M | 30.00M | ||||
| Issuance of Common Stock | 7.14M | 14.53M | 11.27M | 4.74M | 6.83M | 72.23M |
| Other Financing Activities | -141.00K | -445.00K | -2.77M | -1.38M | ||
| Financing Cash Flow | 7.00M | 14.53M | 11.27M | -26.08M | 34.06M | 70.85M |
| Net Cash Flow | 2.49M | 10.43M | -145.00K | -69.67M | -33.96M | 11.81M |
| Free Cash Flow | -4.51M | -5.26M | -11.41M | -49.54M | -67.78M | -57.65M |
| Free Cash Flow Per Share | -0.69 | -1.07 | -18.71 | -287.98 | -441.02 | -492.00 |
| Levered Free Cash Flow | -4.27M | -4.15M | -6.83M | -33.04M | -44.07M | -40.59M |
| Unlevered Free Cash Flow | -4.27M | -4.15M | -6.83M | -30.59M | -42.44M | -40.58M |
| Cash Interest Paid | 1.34M | 2.71M | ||||
| Change in Working Capital | -602.00K | -1.68M | 1.75M | -2.98M | 4.03M | -637.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.03M | 7.16M | 16.10M | 68.28M | 292.22M | 1.21B |
| Enterprise Value | -12.12M | -11.82M | 13.56M | 61.29M | 232.14M | 1.09B |
| Last Close Price | 0.40 | 0.98 | 8.85 | 67.50 | 296.17 | 1,245.00 |
| PB Ratio | 0.40 | 0.75 | -4.16 | 555.11 | 6.32 | 10.73 |
| P/TBV Ratio | 0.40 | 0.75 | 555.11 | 6.32 | 10.73 | |
| Debt / Equity Ratio | -0.23 | 20.31 | 0.68 | 0.02 | ||
| Net Debt / Equity Ratio | -2.01 | -1.81 | 1.54 | -30.37 | -0.96 | -0.96 |
| Net Debt / EBITDA Ratio | 4.32 | 7.20 | 0.50 | 0.08 | 0.60 | 1.67 |
| Net Debt / FCF Ratio | 3.36 | 3.28 | 0.52 | 0.07 | 0.65 | 1.87 |
| Quick Ratio | 1.94 | 2.21 | 0.57 | 0.66 | 5.03 | 10.14 |
| Current Ratio | 1.97 | 2.22 | 0.68 | 0.74 | 5.22 | 10.33 |
| Return on Equity (ROE) | -58.12% | -67.93% | -222.44% | -97.72% | -62.96% | |
| Return on Assets (ROA) | -15.36% | -11.30% | -58.01% | -57.56% | -43.75% | -35.48% |
| Return on Capital Employed (ROCE) | -45.80% | -25.10% | 380.30% | -2,139.40% | -98.50% | -58.30% |
| Earnings Yield | -115.70% | -26.83% | -97.82% | -75.58% | -26.53% | -5.50% |
| FCF Yield | -148.81% | -73.52% | -70.86% | -72.56% | -23.20% | -4.78% |
| Buyback Yield / Dilution | -202.21% | -705.02% | -254.41% | -11.93% | -31.16% | -67.12% |