MBIO - NetworkNewsBreaks - Mustang Bio Inc. (NASDAQ: MBIO) Closes $31.6M Public Offering
Mustang Bio (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, recently closed its underwritten public offering of 7,906,250 shares of common stock at a price of $4.00 each, which includes 1,031,250 additional shares in accordance with the full exercise of the over-allotment option. The company intends to use the gross proceeds of approximately $31.6 million toward the continued development of its product candidates, the possible development, in-license, acquisition and commercialization of other pharmaceutical products and for general corporate purposes. ROTH Capital Partners acted as co-manager for the transactions.
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About Mustang Bio, Inc.
Mustang Bio, Inc. is 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. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to out license or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR T and CRISPR/Cas9-enhanced CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for XSCID. Mustang is registered under the Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission. Mustang was founded by Fortress Biotech, Inc. (NASDAQ: FBIO). For more information, please visit the company’s website at www.MustangBio.com.
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