Mustang Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment

Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

At September 30, 2022 and December 31, 2021, property, plant and equipment consisted of the following:


	Estimated Useful	September 30,		December 31,
($ in thousands)	Life (in years)	2022		2021
Computer equipment	3	$	145	$	145
Furniture and fixtures	5		370		370
Machinery and equipment	5		8,414		6,550
Leasehold improvements	9		7,694		7,694
Construction in process	N/A		1,095		2,027
Total property, plant and equipment			17,718		16,786
Less: accumulated depreciation			(7,673)		(5,734)
Property, plant and equipment, net		$	10,045	$	11,052

Depreciation expense for the three months ended September 30, 2022 and 2021, was approximately $0.7 million and $0.6 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations. Depreciation expense for the nine months ended September 30, 2022 and 2021, was approximately $2.0 million and $1.5 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.