Mustang Bio (MBIO) Balance Sheet: Assets & Liabilities

Mustang Bio Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Mustang Bio, Inc. (MBIO) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	17.27	6.84	6.23	75.66	109.62	97.80	61.41	16.47	34.98
Short-Term Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	17.60	26.00
Cash & Short-Term Investments	17.27	6.84	6.23	75.66	109.62	97.80	61.41	34.07	60.98
Accounts Receivable	0.22	0.40	3.88	0.00	0.05	0.02	0.02	0.04	0.11
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.11	1.37	1.23	3.20	2.04	1.72	1.63	1.02	0.28
Total Current Assets	17.59	8.61	11.35	78.85	111.71	99.53	63.06	35.13	61.36
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	0.45	4.81	12.31	12.10	9.12	9.13	6.86	1.38
Long-Term Investments	0.00	0.00	0.00	0.00	0.00	0.00	1.00	0.50	0.50
Other Non-Current Assets	0.00	0.25	1.58	1.26	1.36	1.25	0.25	0.27	0.25
Total Non-Current Assets	0.00	0.70	6.40	13.57	13.46	10.37	10.38	7.63	2.13
Total Assets	17.59	9.31	17.74	92.42	125.17	109.90	73.45	42.75	63.49
Current Liabilities
Accounts Payable	3.51	12.15	6.32	6.83	3.51	3.52	1.88	1.39	3.47
Short-Term Debt	0.00	0.46	0.52	0.61	0.35	0.28	1.51	0.00	0.00
Accrued Liabilities	1.88	3.09	7.79	7.02	3.64	5.36	-	-	-
Deferred Revenue	0.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	4.25	1.60	8.53	7.66	0.55	5.72	4.39	4.23	0.14
Total Current Liabilities	7.91	12.61	15.37	15.11	10.82	9.52	7.77	5.62	3.61
Non-Current Liabilities
Long-Term Debt	0.00	0.42	1.98	30.77	1.69	1.95	14.02	0.00	0.00
Other Non-Current Liabilities	0.15	0.15	0.00	0.27	0.27	0.00	0.00	0.74	0.05
Total Non-Current Liabilities	0.15	0.57	2.25	31.04	1.96	1.95	14.02	0.74	0.05
Total Liabilities	8.06	13.18	17.62	46.15	12.77	11.47	21.79	6.36	3.66
Stockholders' Equity
Common Stock	0.00	0.62	0.00	0.01	0.01	0.01	0.00	0.00	0.00
Retained Earnings	-398.64	-396.72	-380.97	-329.37	-251.84	-185.47	-125.46	-79.07	-48.41
Accumulated Other Comprehensive Income	0.27	0.61	0.00	1.11	4.33	0.00	4.92	2.09	9.56
Additional Paid-in Capital	407.90	392.23	381.09	374.52	359.91	283.90	172.18	113.38	98.68
Shares Outstanding	7.30	1.83	1.01	0.20	0.18	-	-	-	-
Total Stockholders' Equity	9.53	-3.87	0.12	46.27	112.40	98.44	51.65	36.40	59.83
Total Liabilities & Equity	17.59	9.31	17.74	92.42	125.17	109.90	73.45	42.75	63.49

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Mustang Bio Balance Sheet

How much debt does Mustang Bio have?

Mustang Bio had total debt of $0.00 as of Dec 31, 2025, against $17.27M in cash and short-term investments. Its debt-to-equity ratio was 0.00. Total debt was $878.00K a year earlier.

What are Mustang Bio's total assets?

Mustang Bio reported total assets of $17.59M as of Dec 31, 2025, up 89.0% from $9.31M a year earlier. Total liabilities were $8.06M.

What is Mustang Bio's shareholders' equity?

Mustang Bio's shareholders' equity was $9.53M as of Dec 31, 2025, or about $1.31 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition