Mustang Bio, Inc. (MBIO)

Mustang Bio Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Selling, General & Admin	3.95	4.14	9.69	12.21	11.02
Research & Development	-1.52	8.42	41.04	63.95	55.71
Other Operating Expenses	-	3.69	1.47	-	-
Total Operating Expenses	2.43	16.25	52.19	76.16	66.72
Operating Income	-2.43	-16.25	-49.26	-76.16	-66.72
Interest Income	0.51	0.18	0.85	0.69	0.37
Interest Expense	-0.51	-0.18	-4.11	-3.36	-0.02
Other Non-Operating Income (Expense)	0.51	0.31	0.92	1.3	0.35
Total Non-Operating Income (Expense)	0.51	0.31	-2.34	-1.37	0.71
Pretax Income	-1.92	-15.93	-51.6	-77.53	-66.02
Net Income	-1.92	-15.75	-51.6	-77.53	-66.37
Net Income to Common	-1.92	-15.75	-51.6	-77.53	-66.37
Shares Outstanding (Basic)	5	1	0	0	0
Shares Outstanding (Diluted)	5	1	0	0	0
Shares Change (YoY)	705.02%	254.41%	-	39.73%	63.04%
EPS (Basic)	-0.39	-38.57	-299.95	-504.42	-542.53
EPS (Diluted)	-0.39	-38.57	-299.95	-504.42	-542.53
Shares Outstanding	6.45	0.99	0.17	0.18	0.13
Free Cash Flow	-5.26	-11.41	-49.54	-67.78	-57.65
Free Cash Flow Per Share	-1.07	-18.71	-287.98	-394.00	-468.30
EBITDA	-2.39	-15.42	-47.04	-73.13	-64.42
EBIT	-2.43	-16.25	-49.26	-76.16	-66.72

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q