Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 124

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 124
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. Contractual Obligations We enter into contracts in the normal course of business with licensors, CROs, contract manufacturing organizations (CMOs) and other third parties for the procurement of various products and services, including without limitation biopharmaceutical development, biologic assay development, commercialization, clinical and preclinical development, clinical trials management, pharmacovigilance and manufacturing and supply. These contracts typically do not contain minimum purchase commitments and are generally terminable by us upon written notice. Payments due upon termination or cancelation/delay consist of payments for services provided or expenses incurred, including non-cancelable obligations of our service providers, up to the date of cancellation; in certain cases, our contractual arrangements with CROs and CMOs include cancelation and/or delay fees and penalties. Cash Flows for the Nine Months Ended September 30, 2024 and 2023

| ​                                                        
 ($ in thousands)                                         
 Statement of cash flows data:                            
 Total cash (used in) provided by:                        | ​ 
 ​ 
 ​ | For the nine months ended September 30, 
 2024                                    
 ​                                       
 ​                                       |        | ​ 
 ​ | 2023 
 ​    
 ​    |         |
|:---------------------------------------------------------|:--|:----------------------------------------|-------:|:--|:-----|--------:|
| Operating activities                                     | ​ | $                                       | -9,413 | ​ | $    | -42,223 |
| Investing activities                                     | ​ | ​                                       |      — | ​ | ​    |   5,916 |
| Financing activities                                     | ​ | ​                                       |  6,329 | ​ | ​    | -30,037 |
| Net change in cash, cash equivalents and restricted cash | ​ | $                                       | -3,084 | ​ | $    | -66,344 |

Operating Activities Net cash used in operating activities was $9.4 million for the nine months ended September 30, 2024, compared to $42.2 million for the nine months ended September 30, 2023. Net cash used in operating activities for the nine months ended September 30, 2024, was primarily due to approximately $14.8 million in net loss, partially offset by $2.8 million of non-cash items, primarily related to the $2.6 million asset impairment charge, and a $2.6 million positive change in operating assets and liabilities. Net cash used in operating activities for