Mustang Bio Inc
MBIOBuild a strategy around MBIO
Mustang Bio Inc AI Insights
Informational only. Not investment advice.Snapshot
- Zero revenue TTM with 19M cash and -5.5M FCF implies ~3.4 years runway before requiring dilution or partnership[Cash and Equivalents]
- Negative EV (-12.4M) means cash exceeds market cap - market pricing in significant value destruction or dilution[Enterprise Value]
- P/B of 0.68x vs book value 9.8M - trading below liquidation value despite zero debt[Price to Book Ratio]
Watch Triggers
- Research and Development TTM: Increases >3x from 1M baseline — R&D ramp signals pipeline advancement; current 1M is abnormally low for biotech
- Cash and Equivalents: Falls below 10M or increases via equity raise — Dilution timing is critical - any raise at 6.6M cap would be massively dilutive
- Issuance of Capital Stock: Any issuance >5M — At current share count of 6.2M, significant issuance would crater per-share value
Bull Case
Trading at 0.68x book with negative EV - if any pipeline asset succeeds, upside is asymmetric from 6.6M market cap base
Zero debt and 19M cash provides 3+ years to achieve clinical milestones without immediate dilution pressure
Bear Case
Zero revenue pre-clinical biotech with minimal R&D (1M TTM) suggests stalled pipeline - market pricing terminal decline
ROE of -4.8% and ROA of -17.6% TTM with no revenue path visible - equity value eroding each quarter
Bull vs Bear Balance
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Forward Thesis
Cash runway extends to ~2028 at current burn, but binary clinical outcomes will determine survival
- 18.9M cash vs 5.5M annual burn
- Zero debt provides flexibility
- R&D spend of 1M TTM suggests minimal pipeline activity
Valuation Context
Caveats
Public Strategies Rankings
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MBIO Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$0 | — | ||
$0 | — | ||
0.00 | — | ||
$0 | — | ||
$0.00 | — | ||
0% | — | ||
0% | — | ||
$-5.26M | — | ||
-67.9% | — | ||
Beta 5Y (Monthly) | unknown | — |
MBIO Dividend History
MBIO Stock Splits
MBIO SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/19/26 | 12/31/25 | 10-K | |
11/07/25 | 09/30/25 | 10-Q | |
08/08/25 | 06/30/25 | 10-Q | |
05/14/25 | 03/31/25 | 10-Q | |
03/28/25 | 12/31/24 | Unknown | |
11/08/24 | 09/30/24 | 10-Q | |
08/13/24 | 06/30/24 | 10-Q | |
05/15/24 | 03/31/24 | 10-Q | |
03/11/24 | 12/31/23 | 10-K | |
11/14/23 | 09/30/23 | 10-Q | |
08/14/23 | 06/30/23 | 10-Q | |
05/12/23 | 03/31/23 | 10-Q | |
03/30/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/11/22 | 06/30/22 | 10-Q | |
05/12/22 | 03/31/22 | 10-Q | |
03/23/22 | 12/31/21 | 10-K | |
11/12/21 | 09/30/21 | 10-Q | |
08/16/21 | 06/30/21 | 10-Q | |
05/14/21 | 03/31/21 | 10-Q | |
03/24/21 | 12/31/20 | 10-K | |
11/06/20 | 09/30/20 | 10-Q | |
08/10/20 | 06/30/20 | 10-Q | |
05/11/20 | 03/31/20 | 10-Q | |
03/16/20 | 12/31/19 | 10-K | |
11/12/19 | 09/30/19 | 10-Q | |
08/09/19 | 06/30/19 | 10-Q | |
05/10/19 | 03/31/19 | 10-Q | |
03/18/19 | 12/31/18 | 10-K | |
11/13/18 | 09/30/18 | 10-Q | |
08/13/18 | 06/30/18 | 10-Q | |
05/14/18 | 03/31/18 | 10-Q | |
03/29/18 | 12/31/17 | 10-K | |
11/14/17 | 09/30/17 | 10-Q | |
08/14/17 | 06/30/17 | 10-Q | |
05/15/17 | 03/31/17 | 10-Q | |
03/31/17 | 12/31/16 | 10-K | |
11/14/16 | 09/30/16 | 10-Q | |
08/14/17 | 06/30/16 | 10-Q | |
05/15/17 | 03/31/16 | 10-Q | |
03/31/17 | 12/31/15 | 10-K | |
11/14/16 | 09/30/15 | 10-Q |