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

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment

Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

At June 30, 2022 and December 31, 2021, Mustang’s property, plant and equipment consisted of the following:


	Estimated Useful	June 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		7,486		6,550
Leasehold improvements	9		7,694		7,694
Construction in process	N/A		1,537		2,027
Total property, plant and equipment			17,232		16,786
Less: accumulated depreciation			(7,032)		(5,734)
Property, plant and equipment, net		$	10,200	$	11,052

Depreciation expense for the three months ended June 30, 2022 and 2021, was approximately $0.7 million and $0.5 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations. Depreciation expense for the six months ended June 30, 2022 and 2021, was approximately $1.3 million and $0.9 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.