Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 114

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 114
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 -8 | ​ | ​    | 2,520 |
| R&D other expense (5)                  | ​ | ​                                        |   84 | ​ | ​    | 3,350 |
| Total research and development expense | ​ | $                                        |   57 | ​ | $    | 9,527 |

| (1) | Includes sponsored research, license and clinical trial related costs. |

| (2) | Credit for the three months ended September 30, 2024, primarily reflects the savings on the settlement of payables owed to clinical sites. |

| (3) | Credit for the three months ended September 30, 2023, reflects the refunds and credit memos received upon the termination services for the MB-107/207 program. |

| (4) | Includes costs for long-term follow-up and programs that were terminated. |

| (5) | Includes approximately $1.5 million of expense incurred for uBriGene services and $1.5 million of expense for vector supply in the third quarter of 2023. |

Gain on the Sale of Property and Equipment During the three months ended September 30, 2023, we recorded a gain on the sale of equipment of approximately $1.4 million in connection with the sale of assets to uBriGene. There were no sales of property and equipment during the three months ended September 30, 2024. General and Administrative Expenses General and administrative expenses consist primarily of salaries and related expenses, including stock-based compensation, for executives and other administrative personnel, recruitment expenses, professional fees and other corporate expenses, including investor relations and legal activities including patent fees. For the three months ended September 30, 2024, and 2023, general and administrative expenses were $1.4 million and $2.1 million, respectively. The decrease of approximately $0.7 million is primarily attributed to a $0.4 million decrease in personnel costs, $0.2 million decrease in legal and patent protection expenses, and $0.1 million decrease in consulting. Other Income or Expense For the three months ended September 30, 2024, and 2023, other income was $47,000 and $0.2 million, respectively. The decrease of approximately $0.2 million in income is primarily attributed to a $0.1 million decrease in interest income, and $0.1 million decrease in other income.

74

Comparison of the Nine Months Ended September 30,