MBIO · Mustang Bio, Inc.

This delisting notice signals a material risk to Mustang Bio’s exchange listing status and investor liquidity. The $1.00 bid price deficiency reflects sustained market valuation pressure, potentially driven by clinical, regulatory, or financial developments not disclosed in this filing. While Nasdaq’s grace period provides operational runway, the Company must execute a tangible remediation strategy—most commonly a reverse stock split—within the first 180 days or meet stringent eligibility criteria for a second chance. Failure to regain compliance could trigger mandatory delisting, resulting in reduced analyst coverage, diminished institutional investor participation, and transfer to the OTC Markets, where trading costs and volatility typically increase. The absence of any disclosed plan, timeline, or board-level decision regarding remediation underscores execution uncertainty. Investors should monitor subsequent disclosures for evidence of progress toward compliance, including share price performance, board actions, or public statements on capital structure adjustments.