XSCID

Mustang Bio Reports Full-Year 2023 Financial Results and Recent Corporate Highlights

Retrieved on: 
Monday, March 11, 2024
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WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.

Key Points: 
  • WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.
  • Research and development expenses were $40.5 million for the year ended December 31, 2023, compared to $62.5 million for 2022.
  • 2023 and Recent Corporate Highlights:
    In July 2023, Mustang announced that it amended its previously announced asset purchase agreement with uBriGene (Boston) Biosciences Inc. (“uBriGene”) and closed the transaction.
  • In October 2023, Mustang completed a registered direct offering priced at-the-market for approximately $4.4 million in gross proceeds.

Mustang Bio Announces Strategic Manufacturing Partnership and Portfolio Updates

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Thursday, May 18, 2023
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WORCESTER, Mass., May 18, 2023 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced a strategic update, including anticipated milestones for 2023. Mustang intends to optimize the allocation of its resources and focus on MB-106, MB-109, and in vivo CAR T platform technology. Additionally, Mustang announced a partnership with uBriGene (Boston) Biosciences Inc. (“uBriGene”), the U.S. subsidiary of uBriGene Group, a leading cell and gene therapy contract development and manufacturing organization (“CDMO”), which includes the sale of the Company’s development, manufacturing and analytical testing facility in Worcester, Massachusetts to uBriGene.

Key Points: 
  • Mustang intends to optimize the allocation of its resources and focus on MB-106, MB-109, and in vivo CAR T platform technology.
  • Additionally, Mustang announced a partnership with uBriGene (Boston) Biosciences Inc. (“uBriGene”), the U.S. subsidiary of uBriGene Group, a leading cell and gene therapy contract development and manufacturing organization (“CDMO”), which includes the sale of the Company’s development, manufacturing and analytical testing facility in Worcester, Massachusetts to uBriGene.
  • Subject to closing, the parties will enter into a manufacturing supply agreement, under which uBriGene will manufacture Mustang’s lead product candidates, including continuing to support MB-106 manufacturing for the ongoing multi-center Phase 1/2 trial.
  • I want to thank our manufacturing team for their dedication in building and growing our Worcester facility since it opened in 2018.

Mustang Bio Announces First Patient Successfully Treated by Ex Vivo Lentiviral Gene Therapy to Treat RAG1 Severe Combined Immunodeficiency

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Wednesday, July 27, 2022
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LV-RAG1 is exclusively licensed by Mustang for the development of MB-110, a first-in-class ex vivo lentiviral gene therapy for the treatment of RAG1-SCID.

Key Points: 
  • LV-RAG1 is exclusively licensed by Mustang for the development of MB-110, a first-in-class ex vivo lentiviral gene therapy for the treatment of RAG1-SCID.
  • The license agreement grants Mustang rights to certain additional lentiviral gene therapies being developed in Dr. Staals lab.
  • Severe combined immunodeficiency (SCID) due to complete RAG1 deficiency is a rare, genetic severe combined immunodeficiency disorder caused by null mutations in the RAG1 gene resulting in less than 1% of wild type V(D)J recombination activity.
  • Mustang has partnered with top medical institutions to advance the development of CAR T therapies across multiple cancers, as well as lentiviral gene therapies for severe combined immunodeficiency.

Graphite Bio Reports Recent Business Progress and Fourth Quarter and Fiscal Year 2021 Financial Results

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Monday, March 21, 2022
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Graphite Bio, Inc. (Nasdaq: GRPH), a clinical-stage, next-generation gene editing company focused on developing therapies that harness targeted gene integration to treat or cure serious diseases, today reported recent business progress and fourth quarter and fiscal year 2021 financial results.

Key Points: 
  • Graphite Bio, Inc. (Nasdaq: GRPH), a clinical-stage, next-generation gene editing company focused on developing therapies that harness targeted gene integration to treat or cure serious diseases, today reported recent business progress and fourth quarter and fiscal year 2021 financial results.
  • R&D Expenses: Research and development expenses were $11.2 million for the fourth quarter of 2021, which includes $1.1 million in stock-based compensation expense.
  • Net Loss: Net loss was $18.9 million, or $0.35 per basic and diluted share, for the fourth quarter of 2021.
  • Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

Mustang Bio Announces Exclusive Worldwide License Agreement with Leiden University Medical Centre for Clinical-Stage Lentiviral Gene Therapy with Curative Potential for RAG1 Severe Combined Immunodeficiency

Retrieved on: 
Wednesday, November 10, 2021
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WORCESTER, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang”) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that the company has executed an exclusive license agreement with Leiden University Medical Centre (“LUMC”) for a first-in-class ex vivo lentiviral gene therapy for the treatment of RAG1 severe combined immunodeficiency (“RAG1-SCID”).

Key Points: 
  • Dr. Staal will continue the development of additional lentiviral gene therapies in his lab, to which Mustang Bio has rights under the agreement.
  • The RAG1-SCID therapy expands the pipeline of ex vivo lentiviral gene therapies currently in development at Mustang.
  • The Companys lead programs, MB-107 and MB-207, are being investigated for the treatment of X-linked severe combined immunodeficiency (XSCID).
  • Mustang is establishing itself as the leader in developing treatments for patients with severe combined immunodeficiency, an area of high unmet need.

Mustang Bio Awarded NIH Grant For MB-106 CD20-Targeted CAR T Cell Therapy for Treatment of B-cell non-Hodgkin Lymphomas

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Monday, November 1, 2021
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FWA is an assurance of compliance with the U.S. federal regulations for the protection of human subjects in research.

Key Points: 
  • FWA is an assurance of compliance with the U.S. federal regulations for the protection of human subjects in research.
  • Manuel Litchman, M.D., President and Chief Executive Officer of Mustang, said, "The NIH grant and FWA validate our scientific efforts as we continue to advance the development of MB-106.
  • Research is supported by the National Cancer Institute of the National Institutes of Health under Award Number R44CA265616.
  • Mustang has partnered with top medical institutions to advance the development of CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for XSCID.

Mustang Bio Reports Second Quarter 2021 Financial Results and Recent Corporate Highlights

Retrieved on: 
Monday, August 16, 2021
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WORCESTER, Mass., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (Mustang) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating todays medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced financial results and recent corporate highlights for the second quarter ended June 30, 2021.

Key Points: 
  • WORCESTER, Mass., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (Mustang) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating todays medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced financial results and recent corporate highlights for the second quarter ended June 30, 2021.
  • Research and development expenses including license acquisitions were $11.9 million for the second quarter of 2021, compared to $11.1 million for the second quarter of 2020.
  • Non-cash, stock-based expenses included in research and development were $0.3 million for the second quarter of 2021, compared to $0.4 million for the second quarter of 2020.
  • General and administrative expenses were $2.5 million for the second quarter of 2021, compared to $3.0 million for the second quarter of 2020.