Company: MBIO
Filing Date: 2025-02-07
Form Type: 424B4
Source: 0001410578-25-000085
Chunk: 118

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-07
Form: 424B4
Chunk 118
---
 | ​ | ​ | 16,438 |
| R&D other expense (3)                  | ​                | ​                               |  6,945 | ​ | ​ |  4,295 |
| Total research and development expense | ​                | $                               | 40,513 | ​ | $ | 62,475 |

| (1) | Includes sponsored research, license and clinical trial related costs |

| (2) | Includes the costs for long-term follow-up and programs that were terminated. |

| (3) | Includes services provided by uBriGene under the manufacturing services agreement. |

| (4) | Credits reflect the termination of the programs and refunds from vendors. |

Our research and development expenses may vary significantly from period to period depending on where we are in the development plans for our various programs, and the resources we have at the time to commit to those programs. The more significant costs impacting the level of expense include:

| ● | employee-related expenses, which include salaries and benefits; |

| ● | license fees and milestone payments related to in-licensed products and technology; |

| ● | expenses incurred under agreements with CROs, investigative sites and consultants that conduct our clinical trials and our preclinical activities; |

| ● | costs associated with non-clinical activities, and regulatory approvals. |

Gain on the Sale of Property and Equipment Gain on the sale of property and equipment for the year ended December 31, 2023, is attributable to the difference between the base proceeds of $6.0 million received upon the closing of the uBriGene transaction and the relative fair value of the fixed assets sold.

75

General and Administrative Expenses General and administrative expenses consist primarily of salaries and related expenses, including stock-based compensation, for executives and other administrative personnel, recruitment expenses, professional fees and other corporate expenses, including investor relations, legal activities including patent fees, and facilities-related expenses. General and administrative expense decreased by approximately $2.5 million from $12.2 million for the year ended December 31, 2022, to $9.7 million for the year ended December 31, 2023. The decrease in general and administrative expense for the year ended December 31, 2023, was primarily attributable to the following:

| ● | $0.3 million decreased general and administrative employee compensation costs, including stock based; |

| ● | $0.7 million decreased third-party consulting; |

| ● | $0.6 million decreased outside services,