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, 2023

Property, Plant and Equipment

Property, Plant and Equipment

Note 6 – Property, Plant and Equipment

At September 30, 2023, and December 31, 2022, property, plant and equipment consisted of the following:


	Estimated Useful	September 30,		December 31,
($ in thousands)	Life (in years)	2023		2022
Computer equipment	3	$	—	$	145
Furniture and fixtures	5		—		370
Machinery and equipment	5		—		8,632
Leasehold improvements	9		7,694		7,694
Construction in process	N/A		—		951
Total property, plant and equipment			7,694		17,792
Less: accumulated depreciation			(4,192)		(8,401)
Property, plant and equipment, net		$	3,502	$	9,391

Depreciation expense for the three months ended September 30, 2023, and 2022, was approximately $0.3 million and $0.7 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, 2023, and 2022, was approximately $1.6 million and $2.0 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.