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

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment

Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

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


	Estimated Useful	March 31,		December 31,
($ in thousands)	Life (in years)	2023		2022
Computer equipment	3	$	145	$	145
Furniture and fixtures	5		370		370
Machinery and equipment	5		9,268		8,632
Leasehold improvements	9		7,694		7,694
Construction in process	N/A		333		951
Total property, plant and equipment			17,810		17,792
Less: accumulated depreciation			(9,153)		(8,401)
Property, plant and equipment, net		$	8,657	$	9,391

Depreciation expense for the three months ended March 31, 2023 and 2022, was approximately $0.8 million and $0.6 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.