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Mustang Bio MBIO · USD

Health Care · US listing · 🇺🇸 United States

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0.39

-0.81%

Close of 9 Nov 2026, in USD

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About Mustang Bio

From its filings with the US Securities and Exchange Commission

SEC filings

Mustang Bio is based in Waltham, Massachusetts and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker MBIO. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported a net loss of $1.9m. At that date it held total assets of $17.6m and shareholders' equity of $9.5m.

In its own words

Mustang Bio, Inc. (“Mustang,” “we,” “us,” “our” or the “Company”) is a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs into potential cures for difficult-to-treat cancers. We aim to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market.

Our pipeline is currently focused on novel therapies for solid tumors. For these therapies we have partnered with world class research institutions, including the City of Hope National Medical Center (“COH” or “City of Hope”), and Nationwide Children’s Hospital (“Nationwide”).

We are developing a CAR T therapy for solid tumors in partnership with COH targeting IL13Rα2 (MB-101). In addition, we have partnered with Nationwide for a herpes simplex virus type 1 (“HSV-1”) oncolytic virus (MB-108) in order to enhance the activity of MB-101 for the treatment of patients with high-grade malignant brain tumors. The Phase 1 clinical trial sponsored by COH for MB-101 (ClinicalTrials.gov Identifier: NCT02208362) has completed the treatment phase and patients continue to be assessed for long-term safety. A Phase 1 clinical trial sponsored by the University of Alabama at Birmingham (“UAB”) for MB-108 (ClinicalTrials.gov Identifier: NCT03657576) has also completed the treatment phase and patients continue to be assessed for long-term safety.

Quoted from its 10-K, filed 19 Mar 2026. Read the filing on SEC.gov ↗

Company facts

Sector
Health Care
Industry
Biotechnology
Listed since
22 Aug 2017
Employees
4
Head office
95 SAWYER RD, WALTHAM, MA, 02453
Incorporated in
DE
Classification
Pharmaceutical Preparations
Filer status
Non-accelerated filer<br>Smaller reporting company

Leadership

Pay as last reported

  • Mr. Michael WeissExecutive Chairman of the Board, since 2015$60,000
  • Dr. Manuel LitchmanPresident, Chief Executive Officer, Interim Chief Financial Officer, Director, since 2017$498,042
  • Mr. David JinDirector$12,500
  • Dr. Lindsay RosenwaldDirector$50,000
  • Mr. Adam ChillIndependent Director$60,000
  • Mr. Neil HerskowitzIndependent Director$50,000
  • Dr. Michael ZelefskyIndependent Director$50,000

Environmental, social and governance

Scores out of 100, from our data supplier

ESG
Overall
27
Environment
31
Social
18
Governance
33
Carbon reduction policy
No
Human rights policy
No

SWOT analysis

AI-generated by our data supplier. Not written or checked by our editors.

AI-generated

Strengths

  • Mustang Bio focuses on CAR T therapies for hematologic cancers and solid tumors.
  • The company has a pipeline with MB-107 for X-linked SCID and MB-102 for AML.
  • Mustang Bio's clinical-stage approach targets potential cures for rare genetic diseases.

Weaknesses

  • Mustang Bio has only 4 employees in its headquarters city.
  • The company's IPO was in 2017, indicating limited market presence.
  • Mustang Bio employs 51 full-time staff, which is small for a biotech firm.

Opportunities

  • The biotechnology sector in the US offers growth for CAR T therapies.
  • Mustang Bio can expand its pipeline with gene therapy programs for rare disorders.
  • The US healthcare market supports innovative cell therapies like MB-107.

Threats

  • The biotechnology industry faces intense competition from larger firms.
  • Regulatory challenges may delay CAR T therapy approvals.
  • The US market has high costs for clinical trials in cell therapy.

Sources and methodology

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