Mustang Bio (MBIO) Research & Development (2016 - 2026)
Mustang Bio's Research & Development was $224,000 in Q2 2026, up 128.6% from $98,000 a year earlier and up 25.8% from the prior quarter.
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Analysis
Mustang Bio (MBIO) Research & Development (2016 - 2026) Analysis & Trends
On a trailing twelve-month basis, Mustang Bio's Research & Development was -$248,000 through Jun 30, 2026; for FY2025, it came in at -$1.52 million.
- In earlier years, Research & Development was $8.42 million in FY2024 (-79.2%), $40.51 million in FY2023 (-35.2%), $62.48 million in FY2022 (+25.3%) and $49.86 million in FY2021 (+33.9%).
- The Q2 2026 figure marks the highest quarterly Research & Development since Q2 2024.
- Compared with a year earlier, Research & Development was higher in 1 of the last four quarters, with an average decline of 41.3%.
- The best year-over-year quarter for Research & Development over five years was Q2 2026 (growth of 128.6%); the worst was Q3 2024 (a decline of 99.4%).
- Per Business Quant data, MBIO's Research & Development in the three quarters before Q2 2026 was $178,000 (Q1 2026), -$317,000 (Q4 2025) and -$333,000 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,348.13 Bn | 1,321.74 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 675.90 Bn | 595.76 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 519.45 Bn | 487.50 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 364.95 Bn | 327.95 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 311.58 Bn | 285.16 Bn | - | - |
| 6 | Astrazeneca | 289.34 Bn | 262.94 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.64 Bn | 203.30 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 212.05 Bn | 187.07 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 167.35 Bn | 115.00 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Mustang Bio | 3.03 Mn | -60.03 Mn | - | 208,000.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 208,000.00 |
| Jun 30, 2026 | 224,000.00 |
| Mar 31, 2026 | 178,000.00 |
| Dec 31, 2025 | -317,000.00 |
| Sep 30, 2025 | -333,000.00 |
| Jun 30, 2025 | 98,000.00 |
| Mar 31, 2025 | -964,000.00 |
| Dec 31, 2024 | 197,000.00 |
| Sep 30, 2024 | 57,000.00 |
| Jun 30, 2024 | 4.36 Mn |
| Mar 31, 2024 | 3.80 Mn |
| Dec 31, 2023 | 6.15 Mn |
| Sep 30, 2023 | 9.53 Mn |
| Jun 30, 2023 | 10.84 Mn |
| Mar 31, 2023 | 14.00 Mn |
| Dec 31, 2022 | 15.60 Mn |
| Sep 30, 2022 | 15.42 Mn |
| Jun 30, 2022 | 15.16 Mn |
| Mar 31, 2022 | 16.29 Mn |
| Dec 31, 2021 | 13.26 Mn |
API Access
Mustang Bio Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=MBIO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "MBIO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=MBIO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();