Company: MBIO
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001104659-25-032236
Chunk: 7

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-04
Form: POS AM
Chunk 7
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ISK FACTORS</div>

An investment in our securities involves a high degree of risk. Before deciding whether to purchase our securities,including the shares of common stock offered by this prospectus, you should carefully consider the risks described under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, any subsequent Quarterly Report on Form 10-Q and our other filings with the SEC, all of which are incorporated by reference herein. The occurrence of any of these risk factors could materially and adversely affect our business, financial condition, results of operations and prospects. In such an event, the market price of our securities could decline and you may lose all or part of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations. Some of the statements in the following risk factors constitute forward-looking statements. Please see the section titled “Special Note Regarding Forward-Looking Statements.”

A resale of a substantial number of shares of common stock issued upon exercise of the Warrants by the holders of the Warrants could cause the price of our common stock to decline.

Theshares of common stock underlying the Warrants represent a large percentage of the outstanding shares of our common stock, and,
following the effectiveness of the post-effective amendment to the registration statement of which this prospectus forms a part and the
issuance of shares of common stock underlying the Warrants upon exercise of the Warrants, such shares of common stock may be resold by
such holders in the public market without restriction. If the holders of such shares sell, or the market perceives that our stockholders
intend to sell for various reasons, substantial amounts of the shares of common stock underlying the Warrants in the public market, the
price of our common stock may decline. Additionally, such conditions may make it more difficult for us to sell equity or equity-related
securities in the future at a time and price that we deem reasonable or appropriate.

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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</div>

This prospectus and any documents we incorporate
by reference may contain forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements
other than statements of historical or current facts included in this prospectus and the documents that we incorporate by reference are
forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,”