Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 118

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 118
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 compensation, which includes approximately $3.4 million of costs reimbursed through the subcontracting agreement with uBriGene; |

| ● | $8.2 million decreased laboratory supply costs, including vector manufacturing costs, which includes approximately $0.9 million of costs reimbursed through the subcontracting agreement with uBriGene; |

| ● | $6.7 million decreased for program related costs, which primarily reflects the reduction of spend on the discontinued programs; |

| ● | $2.9 million decreased other costs including facility related costs, depreciation, consulting; and |

| ● | offset by approximately $3.5 million for increase costs for services provided by uBriGene. |

77

Research and development expenses - licenses acquired decreased by $0.9 million from $1.5 million for the year ended December 31, 2022, to $0.5 million for the year ended December 31, 2023. The decrease in research and development expenses - licenses acquired for the year ended December 31, 2023, reflects approximately $0.6 million decrease for the annual stock dividend to Fortress, and $0.3 million decrease in milestone payments related to our licenses with COH in the prior year. The following table provides a breakout of the components of research and development expenses for the year ended December 31, 2023, and 2022:

| ​                                      | ​                
 ($ in thousands) | ​                               
 For the year ended December 31, 
 ​                               |   2023 |   | ​ 
 ​ |   2022 |
|:---------------------------------------|:-----------------|:--------------------------------|-------:|:--|:--|-------:|
| R&D program related expenses (1)       |                  | ​                               |        |   | ​ |        |
| MB-102                                 | ​                | $                               |   -290 | ​ | $ |  1,269 |
| MB-106                                 | ​                | ​                               |  4,727 | ​ | ​ |  3,953 |
| MB-107/207                             | ​                | ​                               |   -778 | ​ | ​ |  1,588 |
| MB-109                                 | ​                | ​                               |  1,140 | ​ | ​ |  1,511 |
| MB-110                                 | ​                | ​                               |    350 | ​ | ​ |    505 |
| Mayo in situ CAR