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WALTHAM, Mass. - Mustang Bio, Inc. (NASDAQ:MBIO), a clinical-stage biopharmaceutical company, has announced it is now in full compliance with Nasdaq Capital Market’s listing requirements. The company received a notice from Nasdaq on February 26, 2025, confirming that it meets the minimum stockholders’ equity requirement as outlined in Nasdaq Listing Rule 5550(b)(1).
The announcement follows Mustang Bio’s previous achievement of satisfying the minimum bid price condition under Nasdaq Listing Rule 5550(a)(2). With these requirements met, the company has secured its continued listing on the Nasdaq Capital Market, and the compliance issues are now resolved.
Mustang Bio specializes in developing cell therapies for hard-to-treat cancers, working in partnership with leading medical institutions to advance CAR-T therapies. The company’s strategic approach involves acquiring rights to medical breakthrough technologies, funding research and development, and facilitating the outlicensing or commercialization of these technologies. According to InvestingPro analysis, parent company FBIO has seen revenue growth of 31.5% over the last twelve months, though it maintains a concerning gross profit margin of -5.12%.
Founded by Fortress Biotech, Inc. (NASDAQ:FBIO), Mustang Bio is committed to innovation in the biopharmaceutical sector. The company regularly files periodic reports with the SEC, as required by its registration under the Securities Exchange Act of 1934, as amended.
The press release also included forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ significantly from those projected. These risks include the need for substantial additional funding, the potential for delays or failures in clinical trials, and the challenges inherent in developing new pharmaceutical products. InvestingPro analysis reveals FBIO’s current ratio of 1.23 and significant cash burn rate, with analysts not expecting profitability this year. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better assess the investment outlook.
Investors and stakeholders are reminded that the information in this article is based on a press release statement from Mustang Bio, Inc. The company’s compliance with Nasdaq listing requirements marks an important step in its ongoing efforts to bring innovative cancer treatments to the market.
In other recent news, Mustang Bio, Inc. announced the pricing of a public offering expected to raise approximately $8 million. This offering includes over 2.6 million shares of common stock and warrants, with H.C. Wainwright & Co. as the exclusive placement agent. Additionally, Mustang Bio revealed a 1-for-50 reverse stock split to comply with Nasdaq’s minimum bid price requirements, which will reduce the number of outstanding shares from roughly 64.8 million to about 1.3 million. Meanwhile, Fortress Biotech, Inc. and its subsidiary Helocyte, Inc. initiated a Phase 2 clinical trial for their CMV vaccine, Triplex, in stem cell donors, aiming to reduce complications in transplant recipients. The trial is funded by the National Cancer Institute and builds on promising results from earlier studies. Fortress Biotech’s subsidiary, Cyprium Therapeutics, Inc., had its New Drug Application for CUTX-101 accepted by the FDA with priority review status, setting a target action date of June 30, 2025. The FDA also extended the review period for CUTX-101, potentially impacting Fortress Biotech’s financial outlook due to possible royalties and milestone payments. These developments reflect ongoing strategic efforts by both Mustang Bio and Fortress Biotech to advance their respective clinical and regulatory milestones.
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