Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 51

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 51
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 be required to seek funds through arrangements with collaborative partners or otherwise
at an earlier stage than otherwise would be desirable and we may be required to relinquish rights to some of our technologies or product
candidates or otherwise agree to terms unfavorable to us, any of which may have a material adverse effect on our business, operating results
and prospects.

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In addition, in order
to address our current funding constraints, we may be required to further revise our business plan and strategy, which may result in us
(i) further curtailing, delaying or discontinuing one or more of our research or development programs or the commercialization of any
product candidates, (ii) selling certain of our assets and/or (iii) may result in our being unable to expand our operations or otherwise
capitalize on our business opportunities. Such actions may become necessary whether or not we are able to raise additional capital. As
a result, our business, financial condition, and results of operations could be materially affected. Furthermore, if we are unable to
raise capital, we could be required to seek bankruptcy protection or other alternatives that would likely result in our securityholders
losing some or all of their investment in us.

​

Our short operating history makes it difficult to evaluate our business and prospects.

We have been conducting operations only since
our incorporation in March 2015. Our operations to date have been limited. We have not yet demonstrated an ability to successfully
complete clinical trials, obtain regulatory approvals, manufacture a clinical scale or commercial scale product, or arrange for a third
party to do so on our behalf, or conduct sales and marketing activities necessary for successful product commercialization. Consequently,
any predictions about our future performance may not be as accurate as they could be if we had a history of successfully developing and
commercializing pharmaceutical products.

In addition, as a young business, we may encounter
unforeseen expenses, difficulties, complications, delays and other known and unknown factors. We will need to expand our capabilities
to support commercial activities. We may not be successful in adding such capabilities.

We expect our financial condition and operating
results to continue to fluctuate significantly from quarter to quarter and year to year due to a variety of factors, many of
which are beyond our control. Accordingly, you should not rely upon the results of any past quarterly period as an indication of future
operating performance.

We will require substantial additional funding which may not be available to us on acceptable terms, or at all. If we fail to raise the necessary additional capital, we may