Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 59

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 59
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 | developing and deploying consistent and reliable processes for engineering a patient’s T cells ex vivo and infusing the engineered T cells back into the patient; |

| ● | conditioning patients with chemotherapy in conjunction with delivering each of our products, which may increase the risk of adverse side effects of our product candidates; |

| ● | educating medical personnel regarding the potential side effect profile of each of our product candidates; |

| ● | developing processes for the safe administration of these product candidates, including long-term follow-up for all patients who receive our product candidates; |

| ● | sourcing clinical and, if approved, commercial supplies for the materials used to manufacture and process our product candidates; |

| ● | developing a manufacturing process and distribution network with a cost of goods that allows for an attractive return on investment; |

| ● | establishing sales and marketing capabilities after obtaining any regulatory approval to gain market acceptance, and obtaining adequate coverage, reimbursement and pricing by third-party payors and government authorities; and |

| ● | developing therapies for indications beyond those addressed by our current product candidates. |

We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.

Because we have limited financial and managerial
resources, we focus on research programs and product candidates that we identify for specific indications. As a result, we may forego
or delay the pursuit of opportunities with other product candidates or for other indications that later prove to have greater commercial
potential. Our resource allocation decisions may cause us to fail to capitalize on viable commercial products or profitable market opportunities.
Our spending on current and future research and development programs and product candidates for specific indications may not yield any
commercially viable products. If we do not accurately and/or effectively evaluate the commercial potential or target market for a particular
product candidate, we may relinquish valuable rights to that product candidate through collaboration, licensing or other royalty arrangements
in cases in which it would have been more advantageous for us to retain sole development and commercialization rights to such product
candidate.

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<div align='center'>Risks Inherent in Drug Development and Commercialization</div>

Delays in the commencement or conduct of our clinical trials could result in increased costs and delay our ability to pursue regulatory approval.

Clinical trials are expensive and can take many years to complete, and the outcome is inherently uncertain. We cannot guarantee that any clinical trials will be conducted as planned