Company: MBIO
Filing Date: 2025-02-07
Form Type: 424B4
Source: 0001410578-25-000085
Chunk: 280

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-07
Form: 424B4
Chunk 280
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 period less unvested restricted stock. Since dividends are declared, paid and set aside among the holders of shares of common stock and Class A common shares pro-rata on an as-if-converted basis, the two-class method of computing net loss per share is not required. Diluted net loss per share does not reflect the effect of shares of common stock to be issued upon the exercise of warrants or outstanding Class A preferred shares, as their inclusion would be anti-dilutive. The two-class method is an earnings allocation formula that treats participating securities as having rights that would otherwise have been available to common stockholders. In addition, as our non-pre-funded warrants are participating securities, we are required to calculate diluted earnings per share under the if-converted method and utilize the most dilutive result. In periods where there is a net loss, no allocation of undistributed net loss to non-pre-funded warrants is performed as the holders of our non-pre-funded warrants are not contractually obligated to participate in our losses. The table below summarizes potentially dilutive securities that were not considered in the computation of diluted net loss per share because they would be anti-dilutive.

| ​                                | ​ |                                       ​ | ​ |       ​ |
| ​                                | ​ | For the nine months ended September 30, |   |         |
| ​                                |   |                                    2024 |   |    2023 |
| Warrants                         |   |                               1,219,116 | ​ |   1,386 |
| Options                          |   |                                   1,521 |   |   1,521 |
| Class A Preferred Shares         |   |                                 250,000 |   | 250,000 |
| Unvested restricted stock awards |   |                                   1,195 |   |   1,285 |
| Unvested restricted stock units  |   |                                     233 |   |   2,125 |
| Total                            |   |                               1,472,065 |   | 256,317 |

F-45

Note 11 – Income Taxes The Company incurred net operating losses and recorded a full valuation allowance against net deferred tax assets for all periods presented. Accordingly, the Company has not recorded a provision for federal or state income taxes. The Company is subject to US federal and state income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the