$MBIO
MUSTANG BIO, INC.

2022 Q2 Form 10-Q Financial Statement

#000155837022013261 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.077M $3.349M $2.646M
YoY Change 21.24% -3.49% 9.79%
% of Gross Profit
Research & Development $15.16M $16.29M $16.77M
YoY Change 39.09% 40.2% -5.93%
% of Gross Profit
Depreciation & Amortization $700.0K $600.0K $655.0K
YoY Change 40.0% 20.0% 42.39%
% of Gross Profit
Operating Expenses $18.24M $19.64M $20.12M
YoY Change 26.32% 30.17% -2.99%
Operating Profit -$18.24M -$19.64M
YoY Change 26.32% 30.17%
Interest Expense -$858.0K -$157.0K $70.00K
YoY Change -1159.26% -220.77% -46.15%
% of Operating Profit
Other Income/Expense, Net -$858.0K -$157.0K
YoY Change -1159.26% -220.77%
Pretax Income -$19.10M -$19.80M -$20.05M
YoY Change 33.01% 32.32% -2.72%
Income Tax
% Of Pretax Income
Net Earnings -$19.10M -$19.80M -$20.05M
YoY Change 33.01% 32.35% -2.72%
Net Earnings / Revenue
Basic Earnings Per Share -$0.19 -$0.20
Diluted Earnings Per Share -$0.19 -$0.21 -$217.7K
COMMON SHARES
Basic Shares Outstanding 102.9M 97.91M
Diluted Shares Outstanding 102.9M 94.07M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.4M $122.2M $109.6M
YoY Change -17.36% -5.55% 12.08%
Cash & Equivalents $107.4M $122.2M $109.6M
Short-Term Investments
Other Short-Term Assets $1.974M $1.905M $2.038M
YoY Change 42.42% 19.06% 19.88%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $109.4M $124.2M $111.7M
YoY Change -16.72% -5.2% 12.23%
LONG-TERM ASSETS
Property, Plant & Equipment $10.20M $10.51M $11.05M
YoY Change 7.26% 23.11% 37.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $359.0K $286.0K $362.0K
YoY Change 40.78% 12.16% 44.8%
Total Long-Term Assets $12.53M $12.81M $13.46M
YoY Change 5.59% 18.01% 29.89%
TOTAL ASSETS
Total Short-Term Assets $109.4M $124.2M $111.7M
Total Long-Term Assets $12.53M $12.81M $13.46M
Total Assets $121.9M $137.0M $125.2M
YoY Change -14.87% -3.43% 13.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.441M $5.540M $3.512M
YoY Change 85.38% 89.86% -0.17%
Accrued Expenses $4.966M $4.798M $6.749M
YoY Change 56.56% 54.77% 32.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.98M $10.78M $10.82M
YoY Change 72.63% 63.74% 13.66%
LONG-TERM LIABILITIES
Long-Term Debt $27.15M $26.99M $0.00
YoY Change
Other Long-Term Liabilities $1.766M $1.860M $1.955M
YoY Change -3.02% -2.11% -2.25%
Total Long-Term Liabilities $28.92M $28.85M $1.955M
YoY Change 1487.92% 1418.21% -2.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.98M $10.78M $10.82M
Total Long-Term Liabilities $28.92M $28.85M $1.955M
Total Liabilities $39.90M $39.63M $12.77M
YoY Change 387.62% 368.38% 11.38%
SHAREHOLDERS EQUITY
Retained Earnings -$290.7M -$271.6M -$251.8M
YoY Change 35.34% 35.53% 35.78%
Common Stock $372.7M $368.9M $359.9M
YoY Change 6.6% 10.6% 30.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.01M $97.33M $112.4M
YoY Change
Total Liabilities & Shareholders Equity $121.9M $137.0M $125.2M
YoY Change -14.87% -3.43% 13.89%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$19.10M -$19.80M -$20.05M
YoY Change 33.01% 32.35% -2.72%
Depreciation, Depletion And Amortization $700.0K $600.0K $655.0K
YoY Change 40.0% 20.0% 42.39%
Cash From Operating Activities -$17.57M -$16.29M -$14.70M
YoY Change 45.31% 4.55% 55.09%
INVESTING ACTIVITIES
Capital Expenditures -$306.0K $1.334M -$1.377M
YoY Change -81.88% 191.27% 96.71%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$100.0K
YoY Change -100.0% -87.01%
Cash From Investing Activities -$306.0K -$1.334M -$1.477M
YoY Change -87.45% 191.27% 1.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.034M 30.22M 4.919M
YoY Change -79.88% -36.52% -85.31%
NET CHANGE
Cash From Operating Activities -17.57M -16.29M -14.70M
Cash From Investing Activities -306.0K -1.334M -1.477M
Cash From Financing Activities 3.034M 30.22M 4.919M
Net Change In Cash -14.85M 12.60M -11.26M
YoY Change -2804.37% -60.09% -149.94%
FREE CASH FLOW
Cash From Operating Activities -$17.57M -$16.29M -$14.70M
Capital Expenditures -$306.0K $1.334M -$1.377M
Free Cash Flow -$17.27M -$17.62M -$13.33M
YoY Change 65.95% 9.88% 51.78%

Facts In Submission

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dei Entity Registrant Name
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MUSTANG BIO, INC.
dei Entity Incorporation State Country Code
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dei Security12b Title
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dei Trading Symbol
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mbio Increase Decrease In Accounts Payable And Accrued Expenses Excluding Amounts Due To Related Parties
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us-gaap Increase Decrease In Due To Related Parties
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us-gaap Increase Decrease In Due To Related Parties
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mbio Increase Decrease In Lease Liabilities
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169000
mbio Increase Decrease In Lease Liabilities
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142000
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Intangible Assets
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0
us-gaap Payments To Acquire Intangible Assets
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750000
us-gaap Payments To Acquire Property Plant And Equipment
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1640000
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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mbio Proceeds From Issuance Of Common Shares At Market Offering
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5900000
mbio Proceeds From Issuance Of Common Shares At Market Offering
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63773000
mbio Offering Costs For Issuance Of Common Shares At Market Offering
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110000
mbio Offering Costs For Issuance Of Common Shares At Market Offering
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us-gaap Proceeds From Issuance Of Debt
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30000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0
us-gaap Payments Of Debt Issuance Costs
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0
us-gaap Proceeds From Stock Plans
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158000
us-gaap Net Cash Provided By Used In Financing Activities
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33255000
us-gaap Net Cash Provided By Used In Financing Activities
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62693000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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-2249000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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32119000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130923000
us-gaap Interest Paid Net
InterestPaidNet
845000
us-gaap Interest Paid Net
InterestPaidNet
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
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315000
us-gaap Capital Expenditures Incurred But Not Yet Paid
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298000
us-gaap Stock Issued1
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4212000
us-gaap Stock Issued1
StockIssued1
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mbio Research And Development Licenses Expenditure Incurred But Not Yet Paid
ResearchAndDevelopmentLicensesExpenditureIncurredButNotYetPaid
0
mbio Research And Development Licenses Expenditure Incurred But Not Yet Paid
ResearchAndDevelopmentLicensesExpenditureIncurredButNotYetPaid
250000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1050000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
mbio Lease Liabilities Arising From Obtaining Right Of Use Assets
LeaseLiabilitiesArisingFromObtainingRightOfUseAssets
0
mbio Lease Liabilities Arising From Obtaining Right Of Use Assets
LeaseLiabilitiesArisingFromObtainingRightOfUseAssets
81000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Use Of Estimates
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<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 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>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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107369000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q2 us-gaap Restricted Cash
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CY2021Q2 us-gaap Restricted Cash
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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108369000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130923000
CY2021Q4 mbio Research And Development Current
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3083000
CY2022Q2 us-gaap Property Plant And Equipment Gross
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17232000
CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7032000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5734000
CY2022Q2 us-gaap Property Plant And Equipment Net
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10200000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11052000
CY2022Q2 us-gaap Depreciation
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700000
CY2021Q2 us-gaap Depreciation
Depreciation
500000
us-gaap Depreciation
Depreciation
1300000
us-gaap Depreciation
Depreciation
900000
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
5441000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3512000
CY2022Q2 mbio Research And Development Current
ResearchAndDevelopmentCurrent
1432000
CY2022Q2 mbio Accrued Compensation Current
AccruedCompensationCurrent
2718000
CY2021Q4 mbio Accrued Compensation Current
AccruedCompensationCurrent
2595000
CY2022Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
574000
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
554000
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
10165000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9744000
CY2022Q2 mbio Increase Decrease In Shares Authorized
IncreaseDecreaseInSharesAuthorized
50000000
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
650000
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
547000
us-gaap Share Based Compensation
ShareBasedCompensation
1314000
us-gaap Share Based Compensation
ShareBasedCompensation
1543000
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
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
412458
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
587542
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5073329
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9155499

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tmb-20220630.xsd Edgar Link pending
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