$MBIO
MUSTANG BIO, INC.

2022 Q1 Form 10-Q Financial Statement

#000155837022008525 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.349M $3.470M
YoY Change -3.49% 77.04%
% of Gross Profit
Research & Development $16.29M $11.62M
YoY Change 40.2% 24.74%
% of Gross Profit
Depreciation & Amortization $600.0K $500.0K
YoY Change 20.0% 25.0%
% of Gross Profit
Operating Expenses $19.64M $15.09M
YoY Change 30.17% 30.96%
Operating Profit -$19.64M -$15.09M
YoY Change 30.17% 30.96%
Interest Expense -$157.0K $130.0K
YoY Change -220.77% -138.24%
% of Operating Profit
Other Income/Expense, Net -$157.0K $130.0K
YoY Change -220.77% -138.58%
Pretax Income -$19.80M -$14.96M
YoY Change 32.32% 26.14%
Income Tax
% Of Pretax Income
Net Earnings -$19.80M -$14.96M
YoY Change 32.35% 26.14%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.19
Diluted Earnings Per Share -$0.21 -$0.19
COMMON SHARES
Basic Shares Outstanding 97.91M 80.47M
Diluted Shares Outstanding 94.07M 80.47M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.2M $129.4M
YoY Change -5.55% 131.9%
Cash & Equivalents $122.2M $129.4M
Short-Term Investments
Other Short-Term Assets $1.905M $1.600M
YoY Change 19.06% -15.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $124.2M $131.0M
YoY Change -5.2% 126.98%
LONG-TERM ASSETS
Property, Plant & Equipment $10.51M $8.538M
YoY Change 23.11% -11.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $286.0K $255.0K
YoY Change 12.16% -80.38%
Total Long-Term Assets $12.81M $10.85M
YoY Change 18.01% -0.43%
TOTAL ASSETS
Total Short-Term Assets $124.2M $131.0M
Total Long-Term Assets $12.81M $10.85M
Total Assets $137.0M $141.8M
YoY Change -3.43% 106.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.540M $2.918M
YoY Change 89.86% 16.72%
Accrued Expenses $4.798M $3.100M
YoY Change 54.77% -8.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.78M $6.586M
YoY Change 63.74% -34.14%
LONG-TERM LIABILITIES
Long-Term Debt $26.99M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.860M $1.900M
YoY Change -2.11% -13.64%
Total Long-Term Liabilities $28.85M $1.900M
YoY Change 1418.21% -85.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.78M $6.586M
Total Long-Term Liabilities $28.85M $1.900M
Total Liabilities $39.63M $8.461M
YoY Change 368.38% -62.89%
SHAREHOLDERS EQUITY
Retained Earnings -$271.6M -$200.4M
YoY Change 35.53%
Common Stock $368.9M $333.6M
YoY Change 10.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $97.33M $133.4M
YoY Change
Total Liabilities & Shareholders Equity $137.0M $141.8M
YoY Change -3.43% 106.74%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$19.80M -$14.96M
YoY Change 32.35% 26.14%
Depreciation, Depletion And Amortization $600.0K $500.0K
YoY Change 20.0% 25.0%
Cash From Operating Activities -$16.29M -$15.58M
YoY Change 4.55% 53.47%
INVESTING ACTIVITIES
Capital Expenditures $1.334M $458.0K
YoY Change 191.27% -12.93%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.334M -$458.0K
YoY Change 191.27% -12.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.22M 47.61M
YoY Change -36.52% 837.29%
NET CHANGE
Cash From Operating Activities -16.29M -15.58M
Cash From Investing Activities -1.334M -458.0K
Cash From Financing Activities 30.22M 47.61M
Net Change In Cash 12.60M 31.57M
YoY Change -60.09% -663.8%
FREE CASH FLOW
Cash From Operating Activities -$16.29M -$15.58M
Capital Expenditures $1.334M $458.0K
Free Cash Flow -$17.62M -$16.04M
YoY Change 9.88% 50.2%

Facts In Submission

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MUSTANG BIO, INC.
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CY2021Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
CY2022Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
384000
CY2021Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-271600000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s unaudited condensed financial statements include certain amounts that are based on management’s best estimates and judgments. The Company’s significant estimates include, but are not limited to, assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Due to the uncertainty inherent in such estimates, actual results could differ from those estimates.</p>
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
122216000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
129371000
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
1000000
CY2021Q1 us-gaap Restricted Cash
RestrictedCash
1000000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123216000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16885000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16786000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6374000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5734000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10511000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11052000
CY2022Q1 us-gaap Depreciation
Depreciation
600000
CY2021Q1 us-gaap Depreciation
Depreciation
500000
CY2022Q1 mbio Employee Stock Purchase Plan Predetermined Offering Period Lower Fair Market Value Percentage
EmployeeStockPurchasePlanPredeterminedOfferingPeriodLowerFairMarketValuePercentage
0.85
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
400000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
600000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1000000
CY2022Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
412458
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
587542
CY2022Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
5540000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3512000
CY2022Q1 mbio Research And Development Current
ResearchAndDevelopmentCurrent
1535000
CY2021Q4 mbio Research And Development Current
ResearchAndDevelopmentCurrent
3083000
CY2022Q1 mbio Accrued Compensation Current
AccruedCompensationCurrent
2094000
CY2021Q4 mbio Accrued Compensation Current
AccruedCompensationCurrent
2595000
CY2022Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
446000
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
554000
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9615000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9744000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
664000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
996000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4647449
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8940192

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0001558370-22-008525.txt Edgar Link pending
0001558370-22-008525-xbrl.zip Edgar Link pending
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tmb-20220331.xsd Edgar Link pending
tmb-20220331x10q.htm Edgar Link pending
tmb-20220331x10q_htm.xml Edgar Link completed
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