Mustang Bio, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2022

Property and Equipment

Property and Equipment

Note 5 - Property and Equipment

Mustang’s property and equipment consisted of the following:


	Estimated Useful	December 31,		December 31,
($ in thousands)	Life (in years)	2022		2021
Computer equipment	3	$	145	$	145
Furniture and fixtures	5		370		370
Machinery and equipment	5		8,632		6,550
Leasehold improvements	9		7,694		7,694
Construction in process	N/A		951		2,027
Total property, plant and equipment			17,792		16,786
Less: accumulated depreciation			(8,401)		(5,734)
Property, plant and equipment, net		$	9,391	$	11,052

Mustang’s depreciation expense for the years ended December 2022 and 2021 was approximately $2.7 million and $2.2 million, respectively, and was recorded in research and development expense in the Statements of Operations.