Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 250

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 250
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 ​ |                ​ 
 Estimated Useful 
  Life (in years) | ​ 
 ​ | ​            
 December 31, 
 2023         |      ​ | ​ 
 ​ | ​            
 December 31, 
 2022         |      ​ |
|:------------------------------------|:--|-----------------:|:--|:-------------|-------:|:--|:-------------|-------:|
| Computer equipment                  |   |                3 | ​ | $            |      — | ​ | $            |    145 |
| Furniture and fixtures              |   |                5 | ​ |              |      — | ​ |              |    370 |
| Machinery and equipment             |   |                5 | ​ |              |      — | ​ |              |  8,632 |
| Leasehold improvements              |   |                9 | ​ |              |  7,694 | ​ |              |  7,694 |
| Total property, plant and equipment | ​ |                ​ | ​ |              |  7,694 | ​ |              | 16,841 |
| Less: accumulated depreciation      | ​ |                ​ | ​ |              | -4,476 | ​ |              | -8,401 |
| Property, plant and equipment, net  | ​ |                ​ | ​ | $            |  3,218 | ​ | $            |  8,440 |

Depreciation expense for the years ended December 31, 2023 and 2022, was approximately $ million and $ million, respectively, and was recorded in research and development expense in the Statements of Operations.

Fixed assets – construction in process primarily reflects buildout costs and equipment that have not yet been placed into service. For the years ended December 31, 2023, and 2022, fixed assets – construction in process was approximately $ and $ million, respectively.

F-20

Note 6 - Accounts Payable and Accrued Expenses

At December 31, 2023 and 2022, accounts payable and accrued expenses consisted of the following:

| ​                                           
 ​                                           | ​                
 ​                
 ($ in thousands) | ​            
 December 31, 
 ​            |      ​ 
   2023 | ​ | ​ |      ​ 
   2022 |
|:--------------------------------------------|:-----------------|:-------------|-------:|:--|:--|-------:|
| Accounts payable                            | ​