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Mustang Bio ( (MBIO) ) has shared an announcement.
Mustang Bio has entered into a Bill of Sale and Surrender Agreement with AbbVie Bioresearch Center Inc., effective from January 31, 2025. As part of this agreement, Mustang Bio will sell certain furniture, fixtures, and equipment located at their Worcester premises to AbbVie for $1.0 million, and AbbVie will take over the lease of the premises. This transaction is expected to potentially save Mustang Bio approximately $2.0 million in lease-related expenses.
More about Mustang Bio
Mustang Bio, Inc. operates in the biotechnology industry, focusing on developing innovative therapies for unmet medical needs, primarily in the field of genetic and cell therapy.
YTD Price Performance: -67.57%
Average Trading Volume: 289,139
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $7.56M
For an in-depth examination of MBIO stock, go to TipRanks’ Stock Analysis page.