Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 75

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 75
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 other claimants; |

| ● | loss of revenues; |

| ● | reduced resources of our management to pursue our business strategy; and |

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Table of Contents

| ● | the inability to commercialize our product candidate or future product candidates, if approved. |

We will obtain limited product liability insurance
coverage for any and all of our upcoming clinical trials. However, our insurance coverage may not reimburse us or may not be sufficient
to reimburse us for any expenses or losses we may suffer. Moreover, insurance coverage is becoming increasingly expensive, and, in the
future, we may not be able to maintain insurance coverage at a reasonable cost or in sufficient amounts to protect us against losses due
to liability. When needed we intend to expand our insurance coverage to include the sale of commercial products if we obtain marketing
approval for one or more of our product candidates in development, but we may be unable to obtain commercially reasonable product liability
insurance for any products approved for marketing. On occasion, large judgments have been awarded in class action lawsuits based on drugs
that had unanticipated side effects. A successful product liability claim or series of claims brought against us could cause our stock
price to fall and, if judgments exceed our insurance coverage, could decrease our cash and adversely affect our business.

Product candidates, even if successfully developed and commercialized, may be effective only in combating certain specific types of cancer, and the market for drugs designed to combat such cancer type(s) may be small and unprofitable.

There are many different types of cancer, and
a treatment that is effective against one type of cancer may not be effective against another. CAR T or other technologies we pursue may
only be effective in combating specific types of cancer but not others. Even if one or more of our product candidates, if approved, proves
to be an effective treatment against a given type of cancer, the number of patients suffering from such cancer may be small, in which
case potential sales from a therapy designed to combat such cancer would be limited.

Negative public opinion and increased regulatory scrutiny of the therapies that underpin many of our product candidates may damage public perception of our product candidates or adversely affect our ability to conduct our business or obtain regulatory approvals for our product candidates.

Public perception may be influenced by claims
that one or more of the therapies underpinning our product candidates is unsafe, and such therapy may not gain the acceptance of the public
or the medical community. More restrictive government regulations or negative public opinion would have