Mustang Bio Stock Price, News & Analysis

Mustang Bio, Inc. (Nasdaq: MBIO) announced a 15-for-1 reverse stock split effective April 4, 2023, to comply with Nasdaq’s $1.00 minimum bid price requirement. This approval came from the Board of Directors and stockholders representing approximately 62.2% of voting power. The outstanding shares will decrease from approximately 109.4 million to about 7.3 million. Stockholders will not receive fractional shares but will instead receive a cash payment. Mustang continues to focus on cell and gene therapies targeting hematologic cancers and genetic diseases.

Mustang Bio, Inc. (Nasdaq: MBIO) reported its financial results and corporate highlights for the year ended December 31, 2022. The company focuses on cell and gene therapies, particularly its leading candidate MB-106 for treating B-cell non-Hodgkin lymphomas and chronic lymphocytic leukemia. MB-106 has demonstrated a 96% overall response rate and a 75% complete response rate in trials. Financially, Mustang's cash position declined to $76.7 million from $110.6 million year-over-year. The net loss for 2022 was $77.5 million, or $0.75 per share. The company aims to disclose additional data from ongoing trials in 2023, supporting an accelerated approval strategy for key indications.

Mustang Bio, Inc. (Nasdaq: MBIO) announced that its CEO, Manuel Litchman, will participate in Cantor's The Future of Oncology Virtual Symposium. The panel discussion titled “CAR-Ts in Hematological Malignancies” is scheduled for April 3, 2023, at 12:00 p.m. ET. Mustang Bio focuses on cell and gene therapies aimed at treating hematologic cancers, solid tumors, and rare genetic diseases. The company aims to enhance its R&D through strategic partnerships and licensing agreements. Mustang's innovative therapies are developed in collaboration with leading medical institutions, reinforcing its commitment to advancing healthcare solutions.

Mustang Bio, Inc. (Nasdaq: MBIO) announced that its President and CEO, Manuel Litchman, M.D., will participate in a fireside chat at the B. Riley Securities’ 3rd Annual Oncology Conference on January 18, 2023, at 3:00 p.m. EST. The conference will showcase over 30 SMiD cap healthcare companies and discuss advancements in immunotherapy, cell therapy, and oncology. Additionally, a replay of the session will be available post-event. Mustang is focused on developing cell and gene therapies for hematologic cancers and rare genetic diseases, aiming for potential cures through collaborations with leading medical institutions.

Mustang Bio (Nasdaq: MBIO) reported advancements in its CAR T cell therapy portfolio, highlighting the ongoing Phase 1/2 clinical trial of MB-106 for B-cell non-Hodgkin lymphomas and chronic lymphocytic leukemia. The company met enrollment targets and aims to provide safety and efficacy data in 2023. MB-106 shows high efficacy with a 100% overall response rate in Waldenstrom macroglobulinemia patients. Additionally, Mustang plans to file an IND for the combination therapy MB-109 for glioblastoma in 2023, and it anticipates further clinical advancements in its CAR T platform.