Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 252

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 252
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   2022 |
|:--------------------------------------------|:-----------------|:-------------|-------:|:--|:--|-------:|
| Accounts payable                            | ​                | $            |  6,322 | ​ | $ |  6,833 |
| Accrued research and development            | ​                | ​            |  4,118 | ​ | ​ |  2,782 |
| Accrued compensation                        | ​                | ​            |  2,838 | ​ | ​ |  3,468 |
| Other                                       | ​                | ​            |    739 | ​ | ​ |    648 |
| Total accounts payable and accrued expenses | ​                | $            | 14,017 | ​ | $ | 13,731 |

Note 7 - Commitments and Contingencies Leases On June 14, 2022, the Company entered into a sublease agreement with The Paul Revere Life Insurance Company. Pursuant to the terms of the sublease lease agreement, the Company agreed to lease 26,503 square feet, located at 1 Mercantile Street, Worcester, MA (the “Mercantile Street Facility”), through January 2030. The Company recorded a right of use asset and related operating lease liability of $ 2.2 million on the Balance Sheet at the lease inception. On July 18, 2023, the Company executed, with a retroactive Effective Date of June 15, 2023, a Third Amendment to Sublease (the “Third Amendment”), with the Paul Revere Life Insurance Company, pursuant to which the Company relocated from the 26,503square feet of rentable space on the fourth floor of the Mercantile Center to 11,916square feet of rentable space on the second floor of the Mercantile Center. As a result of the modification, the Company recorded an adjustment to its right of use asset and related operating lease liability of $ 1.0million and $ 1.2million, respectively, and $ 0.2million gain on the modification of the sublease, which is recorded in Other Income in the Statements of Operations. The Company does not yet occupy the Mercantile Street Facility. On October 27, 2017, the Company entered into a lease agreement with WCS - 377 Plantation Street, Inc., a Massachusetts nonprofit corporation. Pursuant to the terms of the lease agreement, the Company agreed to lease