MUSTANG BIO, INC.
Close on Oct 19, 2026
- Market cap
- $2.51M
- P/E (TTM)
- –
- Dividend yield
- –
About Mustang Bio
Pharmaceutical Preparations, SIC 2834
Mustang Bio, Inc. is a clinical-stage biopharmaceutical company that focuses on acquiring, developing, and commercializing novel cancer therapies, specifically targeting difficult-to-treat solid tumors. Operating as a majority-controlled subsidiary of Fortress Biotech, Inc., the company concentrates on cell and viral immunotherapies. Its principal pipeline assets include MB-101, an engineered CAR T-cell therapy directed at IL13Rα2, and MB-108, an oncolytic herpes simplex virus. Mustang is also investigating MB-109, a combination regimen evaluating MB-101 and MB-108 for the treatment of malignant brain tumors, including recurrent glioblastoma and high-grade astrocytoma. Because its product candidates remain in clinical evaluation and have not received regulatory marketing approval, the company does not currently serve commercial patients or end-user customers.
The company is headquartered in Waltham, Massachusetts, where it maintains its executive offices. Mustang operates domestically in the United States without commercial sales across geographic markets, employing four full-time personnel as of late 2025.
Summary of the business section of Mustang Bio's latest annual report, written by StockData.
Company profile
Company
- Legal name
- MUSTANG BIO, INC.
- Founded
- 2015
- Headquarters
- Waltham, MA
- Address
- 95 Sawyer Rd, Suite 110 02453
- Phone
- (781) 652-4500
- Website
- mustangbio.com
- Employees
- 4, Dec 31, 2025
- Industry
- Pharmaceutical Preparations
- Incorporated in
- Delaware
- Fiscal year ends
- December 31
- Auditor
- KPMG LLP, New York, NY
Stock & identifiers
- Ticker
- MBIO
- Exchange
- Nasdaq
- Shares outstanding
- 8M, Aug 3, 2026
- Public float
- $3.20M, Jun 30, 2025
- Filer category
- Non-accelerated filer<br>Smaller reporting company
- Stock splits
- 1-for-50 reverse, Jan 16, 2025; 1-for-50 reverse, Jan 15, 2025; 1-for-12.75 reverse, May 12, 2023; 1-for-15 reverse, Apr 4, 2023
- SEC CIK
- 1680048
- CUSIP
- 62818Q302
- ISIN
- US62818Q3020
- LEI
- 5493004W0VC1DPECQ779
- EIN
- 47-3828760
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Manuel Litchman MD | President, CEO and Interim CFO, Director | 1,615 |
| Neil Herskowitz | Director | 145 |
| Adam J. Chill | Director | 375 |
| David Jin | Director | 286 |
CEO pay and shareholder return
Pay versus performance table from the proxy statement
| Fiscal year | CEO total pay | CEO pay actually paid | Other executives (avg) | Value of $100 invested | Peer group |
|---|---|---|---|---|---|
| FY2024 Dr. Litchman | $498.04K | $487.21K | $199.49K | $3 | – |
| FY2023 Dr. Litchman | $514.48K | $426.92K | $244.28K | $23 | – |
| FY2022 Dr. Litchman | $636.09K | $417.05K | $347.10K | $24 | – |
“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.
Employees
Headcount reported in annual reports
“As of December 31, 2025, we had 4 full-time employees.”
Corporate history
Events identified from SEC filings