Mustang Bio Receives Positive Listing Determination from Nasdaq
Worcester, Mass., Nov. 12, 2024 (GLOBE NEWSWIRE)
Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell therapies into potential cures for difficult-to-treat cancers, today announced that by decision dated November 8, 2024, the Nasdaq Hearings Panel granted the Company’s request for an extension to evidence compliance with all applicable criteria for continued listing on The Nasdaq Capital Market, including the $1.00 bid price requirement through January 31, 2025 and the $2.5 million stockholders’ equity requirement through February 18, 2025. The Company is considering all available options that may enable it to timely evidence compliance with the continued listing criteria and maintain its listing on Nasdaq; however, there can be no assurance that the Company will be able to do so.
Effects on Individuals:
For individual investors or stakeholders in Mustang Bio, this positive listing determination from Nasdaq provides a sense of stability and confidence in the company’s future prospects. It may influence personal investment decisions and potentially lead to increased interest in supporting the company.
Effects on the World:
On a larger scale, Mustang Bio’s successful listing determination from Nasdaq can have ripple effects in the biopharmaceutical industry and beyond. It showcases the company’s strength and commitment to innovation in developing therapies for challenging medical conditions, contributing to advancements in healthcare and potentially offering new treatment options for patients worldwide.
Conclusion:
In conclusion, Mustang Bio’s receipt of a positive listing determination from Nasdaq marks a significant milestone for the company and underscores the potential impact of its work in the realm of biopharmaceuticals. While the outcome remains uncertain, this development signals progress and resilience in the face of industry challenges, positioning Mustang Bio for continued growth and success.
