Mustang Bio (MBIO) Operating Expenses (2016 - 2026)
Mustang Bio (MBIO) posted quarterly Operating Expenses of $1.1 million for Q1 2026, up 318.18% year-over-year from $253000.0 in Q1 2025, and up 57.91% quarter-over-quarter from $670000.0 in Q4 2025.
Mustang Bio (MBIO) Operating Expenses (2016 - 2026) Analysis & Trends
Mustang Bio (MBIO) has reported Operating Expenses for 11 consecutive years, with $1.1 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 318.18% year-over-year to $1.1 million; the TTM figure through Mar 2026 stood at $3.2 million (down 71.27% YoY), while the FY2025 annual figure was $2.4 million, down 85.03% from the prior year.
- Operating Expenses advanced to $1.1 million in Q1 2026 per MBIO's latest filing, from $670000.0 in the prior quarter.
- Across five years, Operating Expenses topped out at $19.6 million in Q1 2022 and bottomed at $253000.0 in Q1 2025.
- Historically, Operating Expenses has averaged $8.5 million across 5 years, with a median of $8.5 million in 2024.
- Annual changes were most pronounced in 2025 — Operating Expenses plunged 95.16% — and 2026, when it jumped 318.18%.
- Mustang Bio's Operating Expenses stood at $19.4 million in 2022, then tumbled by 55.02% to $8.7 million in 2023, then sank by 88.37% to $1.0 million in 2024, then sank by 34.12% to $670000.0 in 2025, then surged by 57.91% to $1.1 million in 2026.
- Business Quant data shows MBIO's Operating Expenses at $1.1 million in Q1 2026, $670000.0 in Q4 2025, and $624000.0 in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 1.06 Bn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 427.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 541.02 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -784.57 Mn |
| 10 | Mustang Bio | 3.82 Mn | 3.82 Mn | - | 1.17 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.17 Mn |
| Mar 31, 2026 | 1.06 Mn |
| Dec 31, 2025 | 670,000.00 |
| Sep 30, 2025 | 624,000.00 |
| Jun 30, 2025 | 885,000.00 |
| Mar 31, 2025 | 253,000.00 |
| Dec 31, 2024 | 1.02 Mn |
| Sep 30, 2024 | 1.46 Mn |
| Jun 30, 2024 | 8.54 Mn |
| Mar 31, 2024 | 5.23 Mn |
| Dec 31, 2023 | 8.74 Mn |
| Sep 30, 2023 | 10.31 Mn |
| Jun 30, 2023 | 13.89 Mn |
| Mar 31, 2023 | 16.32 Mn |
| Dec 31, 2022 | 19.43 Mn |
| Sep 30, 2022 | 18.85 Mn |
| Jun 30, 2022 | 18.24 Mn |
| Mar 31, 2022 | 19.64 Mn |
| Dec 31, 2021 | 20.12 Mn |
| Sep 30, 2021 | 17.08 Mn |