Mustang Bio - MBIO STOCK NEWS

Mustang Bio (NASDAQ: MBIO) has completed its previously announced public offering, raising $8 million in gross proceeds. The offering included 2,657,807 shares of common stock (or equivalents) and two series of warrants at a combined price of $3.01 per share.

The offering comprises Series C-1 warrants (5-year expiration) and Series C-2 warrants (24-month expiration) to purchase up to 2,657,807 shares each, with an exercise price of $3.01 per share. Both warrant series will become exercisable upon stockholder approval. H.C. Wainwright & Co. served as the exclusive placement agent.

The company plans to use the net proceeds for working capital and general corporate purposes. The offering was conducted under an effective Form S-1 registration statement filed with the SEC.

Mustang Bio (MBIO) has announced the pricing of an $8 million public offering, comprising 2,657,807 shares of common stock (or equivalents) and two series of warrants. The combined offering price is set at $3.01 per share with accompanying warrants. The Series C-1 warrants will expire in five years and Series C-2 warrants in 24 months from stockholder approval, both with a $3.01 exercise price.

H.C. Wainwright & Co. is serving as the exclusive placement agent. The offering is expected to close around February 7, 2025. The company plans to use the net proceeds for working capital and general corporate purposes. The offering is made pursuant to an effective SEC registration statement on Form S-1.

Mustang Bio (NASDAQ: MBIO) has announced a 1-for-50 reverse stock split of its issued and outstanding common stock, scheduled to take effect on January 16, 2025. The move, approved by the Board of Directors and stockholders representing approximately 56% of voting power on June 27, 2024, aims to bring the company into compliance with Nasdaq's $1.00 per share minimum bid price requirement.

The reverse split will reduce outstanding shares from approximately 64.8 million to 1.3 million. The company will continue trading under the symbol 'MBIO' with a new CUSIP number (62818Q302). No fractional shares will be issued, and affected stockholders will receive proportional cash payments. VStock Transfer, will serve as the exchange and paying agent, managing the physical share certificate exchange process.

Mustang Bio (MBIO) has received a positive determination from the Nasdaq Hearings Panel, granting an extension to meet continued listing requirements. The company must achieve a $1.00 minimum bid price by January 31, 2025, and demonstrate $2.5 million stockholders' equity by February 18, 2025. While exploring options to maintain its Nasdaq listing, the company acknowledges there's no guarantee of meeting these requirements within the extended timeframe.

Mustang Bio (MBIO) has received Orphan Drug Designation from the FDA for MB-108, an HSV-1 oncolytic virus targeting malignant glioma. The designation provides tax credits, fee waivers, and seven years of market exclusivity upon approval. The company plans to combine MB-108 with MB-101 (IL13Rα2‐targeted CAR-T cell therapy) in a novel therapeutic approach. Preclinical data shows MB-108 can reshape the tumor microenvironment, potentially enhancing MB-101's efficacy. In previous trials, two patients treated with MB-101 achieved complete responses lasting 7.5 and 31+ months. Further development depends on securing additional funding or strategic partnerships.

Mustang Bio (NASDAQ: MBIO) has entered into a definitive agreement for the exercise of existing warrants to purchase 16,877,638 shares of common stock at $0.237 per share, expected to generate approximately $4 million in gross proceeds. In exchange, the company will issue new unregistered warrants to purchase 33,755,276 shares at $0.27 per share. The new warrants will be exercisable after stockholder approval, with half having a five-year term and half having a twelve-month term. H.C. Wainwright & Co. is acting as the exclusive placement agent. The proceeds will be used for working capital and general corporate purposes.

Mustang Bio (Nasdaq: MBIO), a clinical-stage biopharmaceutical company, has closed a registered direct offering priced at-the-market under Nasdaq rules, raising $2.5 million through the sale of 6,130,000 shares at $0.41 per share. Concurrently, the company issued unregistered warrants for an additional 6,130,000 shares with the same exercise price, expiring five years from stockholder approval. The net proceeds will support working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent.

Mustang Bio (Nasdaq: MBIO), a clinical-stage biopharmaceutical company, announced a $2.5 million registered direct offering. The company will issue approximately 6.13 million shares at $0.41 per share. Unregistered warrants for the same amount of shares will be issued in a concurrent private placement. The offering is expected to close on June 21, 2024, pending customary conditions. H.C. Wainwright & Co. is the exclusive placement agent. Mustang plans to use the net proceeds for working capital and general corporate purposes.

Mustang Bio has announced positive efficacy and safety data from the Phase 1/2 clinical trial of MB-106, a CD20-targeted autologous CAR-T therapy, for Waldenstrom macroglobulinemia (WM). The trial demonstrated a 90% overall response rate among heavily pretreated patients, with durable responses noted, including one patient in complete remission for 31 months.

Outpatient administration was feasible, and no grade 3 or 4 CRS or severe neurotoxicity was observed. These results were presented at the European Hematology Association 2024 Hybrid Congress. Mustang Bio is developing MB-106 in collaboration with Fred Hutch Cancer Center and aims to advance the program further, contingent on acquiring additional funding or strategic partnerships.