Mustang Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2021

Property and Equipment

Property and Equipment

Note 5 - Property and Equipment

At March 31, 2021 and December 31, 2020, Mustang’s property and equipment consisted of the following:


	Estimated Useful	March 31,		December 31,
($ in thousands)	Life (in years)	2021		2020
Computer equipment	3	$	68	$	68
Furniture and fixtures	5		194		181
Machinery and equipment	5		5,748		5,748
Leasehold improvements	9		5,099		5,099
Construction in process	N/A		1,458		499
Total property and equipment			12,567		11,595
Less: accumulated depreciation			(4,029)		(3,567)
Property and equipment, net		$	8,538	$	8,028

Depreciation expense for the three months ended March 31, 2021, and 2020, was approximately $0.5 million and $0.4 million and was recorded in research and development expense in the Condensed Statements of Operations.