Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 103

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 103
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 disclosure, or dissemination of, personal information,
including personal information regarding clinical trial subjects, contractors, directors, or employees, our intellectual property, proprietary
business information, or other confidential or proprietary information, could directly harm our reputation, enable competitors to compete
with us more effectively, compel us to comply with federal and/or state breach notification laws and foreign law equivalents, subject
us to mandatory corrective action, or otherwise subject us to liability under laws and regulations that protect the privacy and security
of personal information. Each of the foregoing could result in significant legal and financial exposure and reputational damage that could
adversely affect our business. Notifications and follow-up actions related to a security incident could impact our reputation or cause
us to incur substantial costs, including legal and remediation costs, in connection with these measures and otherwise in connection with
any actual or suspected security breach. We expect to incur significant costs in an effort to detect and prevent security incidents and
otherwise implement our internal security and business continuity measures, and actual, potential, or anticipated attacks may cause us
to incur increasing costs, including costs to deploy additional personnel and protection technologies, train employees, and engage third-party
experts and consultants.

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The costs related to
significant security breaches or disruptions could be material, and our insurance policies may not be adequate to compensate us for the
potential losses arising from any such disruption in, or failure or security breach of, our systems or third-party systems where information
important to our business operations or commercial development is stored or processed. In addition, such insurance may not be available
to us in the future on economically reasonable terms, or at all. Further, our insurance may not cover all claims made against us and could
have high deductibles in any event, and defending a suit, regardless of its merit, could be costly and divert management

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attention. Furthermore,
if the information technology systems of our third-party vendors and other contractors and consultants become subject to disruptions or
security breaches, we may have insufficient recourse against such third parties and we may have to expend significant resources to mitigate
the impact of such an event, and to develop and implement protections to prevent future events of this nature from occurring.

Our business could be adversely affected by the effects of health pandemics or epidemics, which could cause significant disruptions in our operations.

Health pandemics or epidemics, such as the COVID-19
pandemic, have in the past and could again in the