Mustang Bio, Inc.(MBIO)Earnings, Financials & Key Ratios

MBIO•NASDAQ

$0.70

Price updated Jun 27, 2026

SectorHealthcare IndustryBiotechnology Sub-IndustryCell and Gene Therapy Developers

AboutMustang Bio, Inc., a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors. The company develops MB-107 and MB-207, a gene therapy program for X-linked severe combined immunodeficiency, a rare genetic immune system condition in which affected patients do not live beyond infancy without treatment. The company also develops MB-102 CAR T therapies for blastic plasmacytoid dendritic cell neoplasm, acute myeloid leukemia, and myelodysplastic syndrome; MB-106 CAR T cell program for B cell non-hodgkin lymphoma and chronic lymphocytic leukemia; MB-104 CAR T for multiple myeloma and light chain amyloidosis; MB-101 CAR T cell program for glioblastoma; MB-103 CAR T for glioblastoma multiforme (GBM) and metastatic breast cancer to brain; MB-105 CAR T for prostate and pancreatic cancers; and MB-108, a next-generation oncolytic herpes simplex virus. It has license agreements with Nationwide Children's Hospital, CSL Behring; Mayo Clin Mayo Clinic; Leiden University Medical Centre; SIRION Biotech GmbH, and Minaris Regenerative Medicine GmbH. The company was incorporated in 2015 and is headquartered in Worcester, Massachusetts.Show more

Revenue$0
EBITDA-$2M+84.5%
Net Income-$2M+87.8%
EPS (Diluted)-0.39+84.8%
ROE-67.93%

MBIO Price & Volume

Mustang Bio, Inc. (MBIO) stock price & volume — 10-year historical chart

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Clinical Asset Divestiture Masks Persistent Liquidity Risks

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Contracting

Profitability:Negative

Financial Position:Vulnerable

Cash Flow:Burning

Primary Risk:Imminent liquidity and dilution

"Mustang Bio remains a high-risk, clinical-stage entity that has transitioned to an asset-light model, evidenced by the complete elimination of net PPE from $4.4 million in 2024Q1 to zero by 2026Q1. While the company has successfully reduced R&D spending from $6.7 million in 2023Q4 to $178,000 in 2026Q1, the total absence of commercial revenue over the last ten quarters leaves the firm entirely dependent on dilutive capital raises. Investors should monitor the sustainability of this pivot, as the reliance on third-party CDMOs introduces significant operational uncertainty regarding future clinical development timelines."

Verdict Logic

the company's reliance on external capital to sustain operations, combined with a history of extreme equity volatility and zero revenue, suggests that the current $16.3 million cash balance may be insufficient for long-term clinical viability.

MBIO Growth Metrics

Mustang Bio, Inc. (MBIO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-

3 Years-

TTM-

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM74.58%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM80.06%

Return on Capital

10 Years-66.12%

5 Years-86.3%

3 Years-101.79%

Last Year-76.26%

Peers Comparison

Key metrics vs top competitors for Mustang Bio, Inc. (MBIO)

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Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
MBIOMustang Bio, Inc.Current	$0.70	$5.33M	-1.80	—	—	-67.93%	—
FATEFate Therapeutics, Inc.	$2.10	$244.77M	-1.83	-51.24%	-2056.79%	-58.89%	—
ALLOAllogene Therapeutics, Inc.	$2.13	$519.44M	-2.45	-100%	—	-56.45%	—
CRSPCRISPR Therapeutics AG	$54.92	$5.3B	-8.49	-89.97%	-13856.54%	-30.88%	—
BEAMBeam Therapeutics Inc.	$34.81	$3.58B	-42.98	120.01%	-49.17%	-5.89%	—
NTLAIntellia Therapeutics, Inc.	$16.68	$1.87B	-4.38	16.92%	-597.04%	-57.27%	—