FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Fortress Biotech, Inc.
   2. Issuer Name and Ticker or Trading Symbol
MUSTANG BIO, INC. [NONE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2 GANSEVOORT STREET, 9TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
09/30/2016
(Street)

NEW YORK, NY 10014		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $0.0001 par value 09/30/2016   A(1)   47,870 A $ 0 9,047,870 D  
Common Stock, $0.0001 par value 10/25/2016   A(1)   27,264 A $ 0 9,075,134 D  
Common Stock, $0.0001 par value 11/30/2016   A(1)   47,505 A $ 0 9,122,639 D  
Common Stock, $0.0001 par value 12/12/2016   A(1)   11,925 A $ 0 9,134,564 D  
Common Stock, $0.0001 par value 12/29/2016   A(1)   15,806 A $ 0 9,150,370 D  
Common Stock, $0.0001 par value 01/31/2017   A(1)   213,419 A $ 0 9,363,789 D  
Common Stock, $0.0001 par value 03/13/2017   A(2)   767,264 A $ 0 10,131,053 D  
Common Stock, $0.0001 par value 03/31/2017   A(1)   1,600 A $ 0 10,132,653 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Preferred Stock, $0.0001 par value (3)               (3)   (3) Common Stock 250,000   250,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Fortress Biotech, Inc.
2 GANSEVOORT STREET
9TH FLOOR
NEW YORK, NY 10014		     X    

Signatures

 /s/ Lindsay A. Rosenwald, Chairman, President and Chief Executive Officer   06/07/2017
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Issuer is required to grant to the Reporting Person an equity fee in shares of the Issuer's Common Stock equal to 2.5% of the gross amount of any debt or equity financing consummated by the Issuer. These shares were granted by the Issuer to the Reporting Person following the closing of an equity financing.
(2) The Reporting Person is entitled to an annual dividend on its outstanding Class A Preferred Stock equal to 2.5% of the Issuer's fully diluted outstanding capitalization on March 13. These shares were granted by the Issuer to the Reporting Person for the 2017 annual dividend.
(3) Each share of the Issuer's Class A Preferred Stock is convertible at any time at the option of the Reporting Person into one share of the Issuer's Common Stock and has no expiration date.

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