Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Mustang Bio , Inc. (NASDAQ:MBIO) shares have tumbled to a 52-week low, touching down at $1.12. With a market capitalization of just $3.9 million and a beta of 2.14 indicating high volatility, this latest price level reflects a stark decline for the biopharmaceutical company, which has experienced a significant downturn over the past year. The stock’s trajectory has been marked by a -92.53% change, with a particularly sharp six-month decline of -91.45%, indicating a severe contraction in market confidence and investor sentiment. This substantial drop has raised concerns among shareholders and potential investors as they assess the company’s performance and future prospects in the competitive biotech industry. InvestingPro analysis suggests the stock may be undervalued, with 15+ additional real-time insights available to subscribers.
In other recent news, Mustang Bio has completed the sale of its Worcester manufacturing facility lease and certain assets to AbbVie (NYSE:ABBV) Bioresearch Center Inc. for $1.0 million. This strategic move is expected to save the company approximately $2.0 million in cash expenses over the next 24 months. The transaction, finalized on February 10, 2025, includes the sale of furniture, fixtures, and equipment, marking a significant change in Mustang Bio’s asset base and operational footprint. Additionally, Mustang Bio has secured shareholder approval to issue over 5 million shares under certain outstanding warrants, aligning with Nasdaq’s Listing Rule 5635(d) requirements. This approval, which was achieved through a written consent from a majority of the company’s capital stock voting power, is a key step in Mustang Bio’s capital-raising efforts. The issuance of these shares is expected to support the company’s ongoing operations and strategic initiatives. Mustang Bio plans to continue its clinical trials through partnerships with academic institutions and future contract manufacturing relationships. The company remains committed to advancing its portfolio, with a focus on initiating a clinical trial for MB-109, a combination therapy for recurrent glioblastoma and high-grade astrocytomas, in the second half of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.