Mustang Bio, Inc.
Severe listing-compliance risk
The share price is below $1 and the stored reverse-split/listing-risk level is CRITICAL. No verified reverse-split authorization or announced reverse split is currently recorded. This is a risk signal, not confirmation that Nasdaq has issued a deficiency notice.
MBIO · Price history
Price at last available close
$0.36
−$0.15 (-28.96%) 1M
2026-10-28
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Company & revenue
About Mustang Bio, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
Mustang Bio, Inc., a clinical-stage biopharmaceutical company, focuses on translating cell therapies into cures for difficult-to-treat cancers and autoimmune diseases in the United States. The company develops MB-106, a CD20-targeted chimeric antigen receptor (CAR) T cell therapy which is in Phase I clinical trail for non-hodgkin lymphoma, chronic lymphocytic leukemia, and autoimmune diseases; MB-109, a combination MB-101 and MB-108 as a potential treatment for IL13Ra2+ relapsed or refractory glioblastoma and high-grade astrocytoma; MB-101, an IL13Ra2 CAR T cell program completd Phase I for glioblastoma; and MB-108 which is in Phase I for the treatment of herpes simplex virus-1 oncolytic virus C134. It has a license agreement with city of hope national medical center and nationwide children’s hospital.
How they make money
Mustang Bio is a clinical-stage biopharmaceutical company that acquires rights to medical technologies through licensing or ownership interests. It funds the research and development of these product candidates with the goal of eventually out-licensing them or bringing them to market.
Products & services
The company is developing a pipeline of cell therapies, specifically CAR T therapies for solid tumors, including MB-101 and the combination therapy MB-109.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer categories were not separately identified in the reviewed source set.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Business relationships & partnerships
- City of Hope National Medical Center — A research institution partner for the development of CAR T therapy MB-101 and the combination therapy MB-109.Source
- Nationwide Children's Hospital — A research institution partner for the development of the HSV-1 oncolytic virus MB-108.Source
- University of Alabama at Birmingham — A research institution that sponsored a Phase 1 clinical trial for MB-108.Source
Strengths
- Exclusive licenses from world-class research institutionsSource
Risks
- Clinical-stage development risks and reliance on third-party research institutionsSource
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
37
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
58
Fair
Financial Strength
100
Business Quality / Moat
0
Management
60
Growth Quality
100
Risk / Durability
8
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Model Outlook
12-month model · What does the model think happens next?
Outperformance analysis is not currently available.
Reverse-split / listing-compliance risk: CRITICAL
This is a risk signal, not a prediction. It is separate from Wall Street Score and does not change the company score. It looks for listing-pressure signals such as prolonged Nasdaq trading below $1, very low share price, micro-cap size, negative free cash flow, and verified recent reverse splits.
Risk indicator: 75/100
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
A current Opportunity Score is not available.
The 12-month model outlook is not currently available.
- •Balance-sheet / debt profile scores strongly
- •Asset quality scores strongly
- •Valuation is a weaker part of the current profile
Company-specific research
Questions worth answering for MBIO
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •How long can MBIO fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •How is MBIO likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What specifically needs to improve for MBIO to reach sustainable profitability?
- •What future growth or profitability would be needed to justify MBIO's current valuation?
- •What does the current none warning mean for the reliability or interpretation of MBIO's score?
Essential Investment Snapshot
Wall Street Score
37
Market Cap
$2.4M
P/E Ratio
-0.9
EPS
$-0.45
52-Week High
$1.52
52-Week Low
$0.37
Beta
2.09
Shares Outstanding
4.9M
Total Revenue
$0
Total Debt
$0
Dividend
No current dividend
Liquidation Value / Share
$1.54
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on MBIO.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Exclusive licenses from world-class research institutions.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Biotechnology industry.
- −Clinical-stage development risks and reliance on third-party research institutions.
- −Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
37
Oct 5, 2026
Change
Unchanged
Current Score
37
Oct 23, 2026
Category Changes
MBIO score was unchanged.
Projected Score
Projected Score
38
Projected Change
+1.3 points
Preliminary comparable-period financial changes suggest improvement of approximately 1.3 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$0.36
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $0.00 | $41K | $0.00 | $2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $0.00 | -$41K | $0.00 | -$2.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $418K | $1.5M | $8.4M | $39.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $3.8M | $3.9M | $4.1M | $9.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $3.5M | $2.4M | $16.2M | $48.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | -$3.0M | -$1.9M | -$14.9M | -$48.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$3.5M | -$2.4M | -$16.2M | -$50.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $0.00 | $0.00 | -$5K | $1.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$3.0M | -$1.9M | -$15.8M | -$51.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$3.0M | -$1.9M | -$15.8M | -$51.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.45 | $-0.39 | $-2.57 | $-6.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 6.73M | 4.91M | 6.13M | 8.60M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 6.73M | 4.91M | 6.13M | 8.60M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$0
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.16
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
Not available
Cash Change
+19.7%
Margin Change
Not available
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
Potential Score Impact
Positive indicators included EPS growth, cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
EPS increased 23.1%. Cash increased 19.7%.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
BiotechnologyNews
No news available for MBIO.
Rumor Mill · MBIO
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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