What’s driving Mustang Bio, Inc. (MBIO) stock higher?

Mustang Bio, Inc. (MBIO) has seen a push of 4.95% in aftermarket. However, the last trading session closed at $1.82 with a decline of 0.55%.

Updated Interim Phase 1/2 Data – More Details

On 13th December 2021, MBIO announced that they have updated results from its ongoing Phase 1/2 clinical study. Mustang and the Fred Hutchinson Cancer Research Center are working together on the development of MB-106. The hematologic malignancies including follicular lymphoma, diffuse large B-cell lymphoma, CLL, and Waldenstrom’s macroglobulinemia showed long-lasting responses.

Across all dosage levels, all patients had an overall response rate of 95% and a comprehensive response rate of 65 percent. Moreover, the ORR was 93% and the CR rate was 73% in follicular lymphoma patients. There was additional evidence of CAR-T growth and persistence. At the 28-day assessment, all 20 patients had a positive safety profile, with no grade 3 or 4 cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome.

What’s Next?

With the existing production process of MB-106, the third generation fully human CD20-targeted CAR T cell therapy is mostly for inpatient treatment of a wide range of relapsed or refractory hematologic malignancies. Moreover, the company is extremely pleased with the ongoing favorable safety profile and complete and durable responses. CD20-targeted CAR T cell treatment has the potential to be used instead of, or in conjunction with, CD19 CAR T cell therapy, because of its safety and effectiveness. Last but not least, patients with CD20+ B-NHLs and CLL, including those who have previously received CAR T therapy, continue to enroll in this research in large numbers.

Third Quarter 2021 Results – What’s the update?

MBIO reported third-quarter 2021 results on 12th November 2021. The company reported cash and cash equivalents of $121.9 million as of September 30, 2021. Moreover, the research and development costs, including license purchases, were $14.7 million. Not only this but the non-cash stock-based costs in research and development were $0.7 million as compared to $0.3 million in the third quarter of 2020.

Furthermore, MBIO also announced an exclusive licensing arrangement with Mayo Clinic in August 2021. This is done for the breakthrough technologies that have the ability to change CAR T therapy administration and may be utilized as an off-the-shelf treatment. MBIO reported in November 2021 that the National Institutes of Health’s NCI had given the firm a grant for around $2 million. Lastly, the Mustang-sponsored multicenter study will evaluate the security, acceptability, and effectiveness of MB-106 which is a CD20-targeted, autologous CAR T cell treatment for patients with NHL or CLL.