Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 287

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 287
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 $    | 381 |
| Research and development               | ​ |      |                                      -10 | ​ |      | -19 | ​ |      |                                    -650 | ​ |      |  -1 |
| Total stock-based compensation expense | ​ | $    |                                       42 | ​ | $    | 100 | ​ | $    |                                    -500 | ​ | $    | 380 |

On April 12, 2024, the Company reduced its workforce by approximately percent, which resulted in the forfeiture of a significant number of outstanding restricted stock units and the reversal of previously incurred stock-based compensation expense.

Employee Stock Purchase Plan

Eligible employees can purchase the Company’s common stock at the end of a predetermined offering period at85%of the lower of the fair market value at the beginning or end of the offering period. The Employee Stock Purchase Plan (“ESPP”) is compensatory and results in stock-based compensation expense. The ESPP was initially authorized in 2019 to sell up to533shares of authorized but unissued common stock. In June 2021, the Company’s stockholders approved an amendment to the ESPP to increase the number of authorized shares issuable by800shares. In addition, in June 2023, the Company’s stockholders approved an amendment to the ESPP to increase the number of authorized shares issuable thereunder by8,000for a total of9,333shares.

As of September 30, 2024,2,562shares have been purchased and6,771shares are available for future sale under the Company’s ESPP.

Warrants

A summary of warrant activities for the nine months ended September 30, 2024, is presented below:

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     Weighted Average 
            Remaining 
 Contractual Life (in 
               years) |
|:-------------------------------------|:--|----------:|:--|:-----------------|------:|:--|---------------------:|
| Outstanding as of December 31, 2023  |   |    89,618 | ​ | $                | 67.16 |   |                 5.