Organization and Description of Business |
12 Months Ended | |
|---|---|---|
Dec. 31, 2017 | ||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Organization and Description of Business [Text Block] |
Note 1 - Organization and Description of Business
Mustang Bio, Inc. (the “Company” or “Mustang”) was incorporated in Delaware on March 13, 2015 and commenced its principal operations on March 13, 2015. Mustang was formed, by Fortress Biotech, Inc. (“Fortress” or “Parent”), as a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of novel cancer immunotherapy products designed to utilize the power of the patient’s own immune system to eliminate cancer cells. The Company may acquire rights to these technologies by licensing the rights or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market. Liquidity and Capital Resources The Company has incurred substantial operating losses since its inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of December 31, 2017, the Company had an accumulated deficit of $48.4 million. The Company expects to continue to use the proceeds from previous financing transactions primarily for general corporate purposes, which may include financing the Company’s growth, developing new or existing product candidates, and funding capital expenditures, acquisitions and investments. The Company currently anticipates that its cash and cash equivalents balances and short-term investments held to maturity at December 31, 2017, are sufficient to fund its anticipated operating cash requirements for at least the next 15 months.
We have funded our operations to date primarily through the sale of equity and debt securities. We believe that our current cash and cash equivalents are sufficient to fund operations for at least the next 15 months. We may require additional financing to fully develop and prepare regulatory filings and obtain regulatory approvals for our existing and new product candidates and fund operating losses. |