Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 177

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 177
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,000 in expense related to the Advisory Agreement. For the year ended December 31, 2023, we recognized $110,000
in expense in our Statements of Operations related to the Advisory Agreement, including approximately $50,000 in expense related to equity
incentive grants. We issued Mr. Weiss 144 shares of restricted stock for the year ended December 31, 2023. No restricted
stock awards were granted in 2024.

Item 14. Principal Accounting Fees and Services

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<div align='center'>Audit Fees, Audit-Related Fees, Non-Audit Fees, Tax Fees and Other Fees</div>

Audit Fees

For the year ended December 31, 2024, KPMG LLP
billed us an aggregate of approximately $412,000 in fees and professional services rendered in connection with the audit of our annual
financial statements included in our Annual Reports on Form 10-K for the 2024 fiscal year and the review of our financial statements included
in our Quarterly Reports on Form 10-Q during that fiscal year.

For the year ended December 31, 2023, KPMG LLP
billed us an aggregate of approximately $372,000 in fees and professional services rendered in connection with the audit of our annual
financial statements included in our Annual Reports on Form 10-K for the 2023 fiscal year and the review of our financial statements included
in our Quarterly Reports on Form 10-Q during that fiscal year.

Audit-Related Fees

For the year ended December 31, 2024, and 2023,
KPMG LLP billed us an aggregate of approximately $255,000 and $70,000, respectively, in fees for audit-related services rendered in connection
with securities offerings and registration statements, in addition to the fees described above under the heading “Audit Fees.”

Tax Fees

During the fiscal years ended December 31, 2024
and 2023 we were not billed by KPMG LLP for fees for professional services rendered for tax compliance, tax advice, and tax planning services.

All Other Fees

During the fiscal years ended December 31, 2024
and 2023, we were not billed by KPMG LLP for any fees for services, other than those described above, rendered to us for each of those
fiscal years.

<div align='center'>90</div>

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Table of Contents

Pre-Approval of Services

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Our Audit Committee has established a policy setting
forth