Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 194

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 194
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 and require disclosure of the title and position of the CODM. This guidance is effective for
fiscal years, beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption
will be permitted. The Company adopted the ASU on its annual report on Form 10-K for the year ended December 31, 2024.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate
reconciliation table and disclosures regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update will be effective
for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact that this guidance will have on our
financial statements and disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Topic 220-40).The amendments in this update require new disclosures to disaggregate prescribed natural expenses underlying any income statement caption. ASU 2024-03 is effective for annual periods in fiscal years beginning after December 15, 2026, and interim periods thereafter. Early adoption is permitted. ASU 2024-03 applies on a prospective basis for periods beginning after the effective date. However, retrospective application to any or all prior periods presented is permitted. The Company is currently assessing the impact ASU 2024-03 will have on the financial statements and disclosures.

Note 3 - License, Clinical Trial and Sponsored Research
Agreements

Research and Development Expenses – Licenses

For the year ended December 31, 2024, the Company
recorded $0.3 million in Research and development – licenses acquired related to a clinical development milestone achieved related
to its license agreement with Nationwide Children’s. For the year ended December 31, 2023, the Company recorded $50,000 in Research
and development – licenses acquired in connection with Calimmune license. On August 14, 2023, the Company notified Calimmune that
it was terminating the Calimmune license, which took effect 60 days following notification.

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Table of Contents

Research and Development Expenses - Sponsored Research and Clinical Trial Agreements

For the years ended December 31, 202