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

9 Months Ended

Sep. 30, 2021

Property and Equipment

Property and Equipment

Note 5 - Property and Equipment

At September 30, 2021 and December 31, 2020, Mustang’s property and equipment consisted of the following:


	Estimated Useful	September 30,		December 31,
($ in thousands)	Life (in years)	2021		2020
Computer equipment	3	$	144	$	68
Furniture and fixtures	5		370		181
Machinery and equipment	5		6,330		5,748
Leasehold improvements	9		7,653		5,099
Construction in process	N/A		1,019		499
Total property and equipment			15,516		11,595
Less: accumulated depreciation			(5,079)		(3,567)
Property and equipment, net		$	10,437	$	8,028

Depreciation expense for the three months ended September 30, 2021, and 2020, was approximately $0.6 million and $0.4 million, respectively, and was recorded in research and development expense in the Unaudited Condensed Statements of Operations. Depreciation expense for the nine months ended September 30, 2021, and 2020, was approximately $1.5 million and $1.2 million, respectively, and was recorded in research and development expense in the Unaudited Condensed Statements of Operations.