$MBIO
MUSTANG BIO, INC.

2021 Q1 Form 10-Q Financial Statement

#000155837021007256 Filed on May 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.470M $2.410M $1.960M
YoY Change 77.04% 17.56% -16.24%
% of Gross Profit
Research & Development $11.62M $17.83M $9.314M
YoY Change 24.74% 28.55% 33.82%
% of Gross Profit
Depreciation & Amortization $500.0K $460.0K $400.0K
YoY Change 25.0% 31.43% 38.89%
% of Gross Profit
Operating Expenses $15.09M $20.74M $11.52M
YoY Change 30.96% 30.28% 18.11%
Operating Profit -$15.09M -$11.52M
YoY Change 30.96% 18.11%
Interest Expense $130.0K $130.0K -$340.0K
YoY Change -138.24% -144.83% -342.86%
% of Operating Profit
Other Income/Expense, Net $130.0K -$337.0K
YoY Change -138.58% -339.01%
Pretax Income -$14.96M -$20.61M -$11.86M
YoY Change 26.14% 27.14% 23.41%
Income Tax
% Of Pretax Income
Net Earnings -$14.96M -$20.61M -$11.86M
YoY Change 26.14% 27.14% 23.34%
Net Earnings / Revenue
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.19 -$312.2K -$282.6K
COMMON SHARES
Basic Shares Outstanding 80.47M
Diluted Shares Outstanding 80.47M

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.4M $97.80M $55.80M
YoY Change 131.9% 59.28% 37.44%
Cash & Equivalents $129.4M $97.80M $56.81M
Short-Term Investments
Other Short-Term Assets $1.600M $1.700M $1.900M
YoY Change -15.79% 6.25% 111.11%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $131.0M $99.53M $57.70M
YoY Change 126.98% 57.83% 38.66%
LONG-TERM ASSETS
Property, Plant & Equipment $8.538M $8.028M $9.600M
YoY Change -11.06% 1.16% 39.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $255.0K $250.0K $1.300M
YoY Change -80.38% 0.0% 398.08%
Total Long-Term Assets $10.85M $10.37M $10.90M
YoY Change -0.43% -0.15% 22.84%
TOTAL ASSETS
Total Short-Term Assets $131.0M $99.53M $57.70M
Total Long-Term Assets $10.85M $10.37M $10.90M
Total Assets $141.8M $109.9M $68.60M
YoY Change 106.74% 49.64% 35.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.918M $3.518M $2.500M
YoY Change 16.72% 87.43% -65.75%
Accrued Expenses $3.100M $5.100M $3.400M
YoY Change -8.82% 1600.0% 3300.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $3.100M
YoY Change -100.0%
Total Short-Term Liabilities $6.586M $9.515M $10.00M
YoY Change -34.14% 22.44% 35.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $10.60M
YoY Change -100.0% -100.0% -16.54%
Other Long-Term Liabilities $1.900M $2.000M $2.200M
YoY Change -13.64% 11.11% 15.79%
Total Long-Term Liabilities $1.900M $2.000M $12.80M
YoY Change -85.16% -85.71% -12.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.586M $9.515M $10.00M
Total Long-Term Liabilities $1.900M $2.000M $12.80M
Total Liabilities $8.461M $11.47M $22.80M
YoY Change -62.89% -47.39% 3.6%
SHAREHOLDERS EQUITY
Retained Earnings -$200.4M -$185.5M
YoY Change 47.84%
Common Stock $333.6M $276.0M
YoY Change 60.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $133.4M $98.44M $45.80M
YoY Change
Total Liabilities & Shareholders Equity $141.8M $109.9M $68.60M
YoY Change 106.74% 49.64% 35.88%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income -$14.96M -$20.61M -$11.86M
YoY Change 26.14% 27.14% 23.34%
Depreciation, Depletion And Amortization $500.0K $460.0K $400.0K
YoY Change 25.0% 31.43% 38.89%
Cash From Operating Activities -$15.58M -$9.480M -$10.15M
YoY Change 53.47% -0.11% 56.59%
INVESTING ACTIVITIES
Capital Expenditures $458.0K -$700.0K $526.0K
YoY Change -12.93% -22.22% 75.92%
Acquisitions
YoY Change
Other Investing Activities -$770.0K $0.00
YoY Change 54.0% -100.0%
Cash From Investing Activities -$458.0K -$1.460M -$526.0K
YoY Change -12.93% 5.04% -104.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 47.61M 33.49M 5.079M
YoY Change 837.29% -62.69%
NET CHANGE
Cash From Operating Activities -15.58M -9.480M -10.15M
Cash From Investing Activities -458.0K -1.460M -526.0K
Cash From Financing Activities 47.61M 33.49M 5.079M
Net Change In Cash 31.57M 22.55M -5.599M
YoY Change -663.8% -307.26% -129.27%
FREE CASH FLOW
Cash From Operating Activities -$15.58M -$9.480M -$10.15M
Capital Expenditures $458.0K -$700.0K $526.0K
Free Cash Flow -$16.04M -$8.780M -$10.68M
YoY Change 50.2% 2.21% 57.45%

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AccountsPayableCurrent
3518000
CY2021Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5959000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
8747000
CY2017Q4 us-gaap Net Rentable Area
NetRentableArea
27043
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12567000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11595000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4029000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3567000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8538000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8028000
CY2021Q1 us-gaap Depreciation
Depreciation
500000
CY2020Q1 us-gaap Depreciation
Depreciation
400000
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2918000
CY2017Q4 mbio Lessee Operating Lease Total Abatements Over Lease Term
LesseeOperatingLeaseTotalAbatementsOverLeaseTerm
600000
CY2017Q4 mbio Lessee Operating Lease Total Base Rent Net Of Abatements
LesseeOperatingLeaseTotalBaseRentNetOfAbatements
3600000
CY2017Q4 us-gaap Security Deposit
SecurityDeposit
800000
CY2017Q4 mbio Lessee Security Deposit Upon Full Occupancy
LesseeSecurityDepositUponFullOccupancy
1300000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2200000
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1100000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
76000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
83000
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
147000
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
234000
CY2021Q1 us-gaap Lease Cost
LeaseCost
223000
CY2020Q1 us-gaap Lease Cost
LeaseCost
317000
CY2021Q1 mbio Proceeds From Payments For Operating Leases
ProceedsFromPaymentsForOperatingLeases
-118000
CY2020Q1 mbio Proceeds From Payments For Operating Leases
ProceedsFromPaymentsForOperatingLeases
270000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.090
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.090
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
349000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
476000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
489000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
503000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
516000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
439000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2772000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
613000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2159000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
996000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
805000
CY2021Q1 mbio Employee Stock Purchase Plan Predetermined Offering Period Lower Fair Market Value Percentage
EmployeeStockPurchasePlanPredeterminedOfferingPeriodLowerFairMarketValuePercentage
0.85
CY2021Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
55963
CY2020Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
68351
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
203181
CY2021Q1 mbio Proceeds From Employee Stock Purchase Plan
ProceedsFromEmployeeStockPurchasePlan
200000
CY2021Q1 mbio Proceeds From Employee Stock Purchase Plan
ProceedsFromEmployeeStockPurchasePlan
200000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8940192
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8174072

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