Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 88

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 88
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, and any liability could exceed our resources. We also could incur
significant costs associated with civil or criminal fines and penalties for failure to comply with such laws and regulations.

Although we maintain workers’ compensation
insurance to cover us for costs and expenses, we may incur due to injuries to our employees resulting from the use of hazardous materials,
this insurance may not provide adequate coverage against potential liabilities. We do not maintain insurance for environmental liability
or toxic tort claims that may be asserted against us in connection with our storage or disposal of biological, hazardous or radioactive
materials.

In addition, we may incur substantial costs in
order to comply with current or future environmental, health and safety laws and regulations. These current or future laws and regulations
may impair our research, development or production efforts. Our failure to comply with these laws and regulations also may result in substantial
fines, penalties or other sanctions.

<div align='center'>Risks Related to Intellectual Property and Potential Disputes Thereof</div>

​

If we are unable to obtain and maintain sufficient patent protection for our technology and products, our competitors could develop and commercialize technology and products similar or identical to ours, and our ability to successfully commercialize our technology and products may be impaired.

Our success depends, in large part, on our ability
to obtain patent protection for product candidates and their formulations and uses. The patent application process is subject to numerous
risks and uncertainties, and there can be no assurance that we or our partners will be successful in obtaining patents or what the scope
of an issued patent may ultimately be. These risks and uncertainties include, but are not necessarily limited to, the following:

| ● | patent applications may not result in any patents being issued, or the scope of issued patents may not extend to competitive product candidates and their formulations and uses developed or produced by others; |

●our
competitors, many of which have substantially greater resources than us or our partners, and many of which have made significant investments
in competing technologies, may seek, or may already have obtained, patents that may limit or interfere with our abilities to make, use,
and sell potential product candidates, file new patent applications, or may affect any pending patent applications that we may have;

●there
may be significant pressure on the U.S. government and other international governmental bodies to limit the scope of patent protection
both inside and outside the United States for disease treatments that prove successful as a matter of public policy regarding worldwide
health concerns; and

●countries
other than the United