Mustang Bio, Inc. (MBIO) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Mustang Bio reported revenue of $0. Net income was -$1.9M, or -$0.39 per diluted share. Operating activities generated -$5.3M of cash. At fiscal year end, Mustang Bio held $17.6M in total assets against $8.1M in total liabilities, including $17.3M of cash and equivalents.
Open the full interactive Mustang Bio financials → Quarterly statements, key ratios, valuation history and price charts.
Mustang Bio Key Stats
| Share Price | $0.38 |
|---|---|
| Market Cap | $2.5M |
| 52-Week Range | $0.38 – $1.67 |
| Shares Outstanding | 6.7 million (basic, 2026 Q2) |
Mustang Bio Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating Income | -$56.8M | -$66.7M | -$76.2M | -$49.3M | -$16.2M | -$2.4M |
| Pre-Tax Income | -$60.0M | -$66.4M | -$77.5M | -$51.6M | -$15.8M | -$1.9M |
| Income Tax | — | — | — | — | — | $27,000 |
| Net Income | -$60.0M | -$66.4M | -$77.5M | -$51.6M | -$15.8M | -$1.9M |
| Diluted EPS | -$855.00 | -$570.00 | -$562.50 | -$300.00 | -$38.57 | -$0.39 |
Mustang Bio Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Net Income | -$468,000 | -$538,000 | -$955,000 | -$1.1M |
| Diluted EPS | -$0.07 | -$0.11 | -$0.14 | -$0.16 |
Mustang Bio Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $97.8M | $109.6M | $75.7M | $6.2M | $6.8M | $17.3M |
| Current Assets | $99.5M | $111.7M | $78.9M | $11.3M | $8.6M | $17.6M |
| Total Assets | $109.9M | $125.2M | $92.4M | $17.7M | $9.3M | $17.6M |
| Current Liabilities | $9.5M | $10.8M | $15.1M | $15.4M | $12.6M | $7.9M |
| Total Long-Term Debt | — | — | $27.4M | — | — | — |
| Total Liabilities | $11.5M | $12.8M | $46.1M | $17.6M | $13.2M | $8.1M |
| Shareholders' Equity | $98.4M | $112.4M | $46.3M | $123,000 | -$3.9M | $9.5M |
Mustang Bio Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$37.3M | -$53.7M | -$65.1M | -$49.5M | -$11.4M | -$5.3M |
| Cash From Investing | -$4.4M | -$5.4M | -$3.0M | $5.9M | $0 | $1.2M |
| Cash From Financing | $78.1M | $70.8M | $34.1M | -$26.1M | $11.3M | $14.5M |
| Free Cash Flow | -$39.2M | -$57.7M | -$67.8M | -$49.5M | -$11.4M | — |
Figures from Mustang Bio's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Mustang Bio financials page for every line item.
Mustang Bio Company Profile
| Ticker | MBIO |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Waltham, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001680048 |
Frequently Asked Questions
What was Mustang Bio's revenue in fiscal 2025?
Mustang Bio (MBIO) reported revenue of $0 for fiscal 2025.
What is Mustang Bio's annual revenue history?
Mustang Bio's annual revenue by fiscal year: 2020: $0; 2021: $0; 2022: $0; 2023: $0; 2024: $0; 2025: $0.
What was Mustang Bio's net income in fiscal 2025?
Mustang Bio reported net income of -$1.9M for fiscal 2025.
What was Mustang Bio's earnings per share (EPS) in fiscal 2025?
Mustang Bio's diluted EPS was -$0.39 for fiscal 2025 (adjusted for any later stock splits).
What was Mustang Bio's revenue last quarter?
In its most recent reported quarter (2026 Q2), Mustang Bio reported revenue of $0.
How many shares of Mustang Bio are outstanding?
Mustang Bio reported a weighted average of 6.7 million basic shares outstanding in 2026 Q2.
What is Mustang Bio's market cap?
Based on its latest closing price, Mustang Bio (MBIO) has a market capitalization of about $2.5M.
When does Mustang Bio's fiscal year end?
Mustang Bio's fiscal year end, as registered with the SEC, is December 31.
Where is Mustang Bio headquartered?
Mustang Bio lists its business address in Waltham, Massachusetts in its SEC filings.