Estados financieros detallados de Mustang Bio, Inc. (MBIO): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $0.50, MBIO presenta beneficios negativos (P/E no significativo) y un ROE del -34.23%. La capitalización bursátil es de $4M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | $2000 | $630000 | $1.4M | $1.8M | $2.3M | $3.0M | $2.2M | 0 | $41000 |
| Beneficio Bruto | 0 | -$2000 | -$630000 | -$1.4M | -$1.8M | -$2.3M | -$3.0M | -$2.2M | 0 | -$41000 |
| I+D | $8.5M | $20.4M | $24.5M | $36.3M | $45.6M | $53.5M | $63.9M | $39.2M | $8.4M | $1.5M |
| Generales y Administrativos | $2.8M | $11.4M | $6.8M | $9.6M | $9.5M | $11.0M | $12.2M | $9.3M | $4.1M | $3.9M |
| Gastos Operativos | $11.4M | $31.8M | $31.2M | $45.9M | $55.0M | $64.4M | $73.1M | $48.5M | $16.2M | $2.4M |
| Beneficio Operativo | $11.4M | -$31.8M | -$31.2M | -$45.9M | -$56.8M | -$66.7M | -$76.2M | -$50.7M | -$16.2M | -$2.4M |
| EBITDA | -$11.5M | -$31.3M | -$30.0M | -$43.3M | -$54.3M | -$64.0M | -$71.1M | -$48.1M | -$14.9M | -$1.9M |
| Gastos por Intereses | $1.1M | $8000 | $8000 | $1.8M | $3.9M | $15000 | $3.4M | $1.3M | -$5000 | 0 |
| Beneficio Antes de Impuestos | -$12.7M | -$31.3M | -$30.7M | -$46.4M | -$60.0M | -$66.4M | -$77.5M | -$51.6M | -$15.8M | -$1.9M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$12.7M | -$31.3M | -$30.7M | -$48.2M | -$60.0M | -$66.4M | -$77.5M | -$51.6M | -$15.8M | -$1.9M |
| BPA | $-7.24 | $-18.58 | $-17.07 | $-20.03 | $-17.10 | $-11.40 | $-11.25 | $-6.00 | $-2.57 | $-0.39 |
| BPA Diluido | $-7.24 | $-18.58 | $-17.07 | $-20.03 | $-17.10 | $-11.40 | $-11.25 | $-6.00 | $-2.57 | $-0.39 |
| Acciones en Circulación (Diluidas) | $1.7M | $1.7M | $1.8M | $2.4M | $3.5M | $5.9M | $6.9M | $8.6M | $6.1M | $4.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | 0 | 0 | 0 |
| Beneficio Operativo | -$624000 | -$670000 | -$1.1M | -$1.2M |
| EBITDA | -$468000 | -$538000 | -$955000 | -$1.1M |
| Beneficio Neto | -$468000 | -$538000 | -$955000 | -$1.1M |
| BPA | $-0.07 | $-0.07 | $-0.14 | $-0.16 |
| BPA Diluido | $-0.07 | $-0.07 | $-0.14 | $-0.16 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $27.5M | $35.0M | $16.5M | $61.4M | $97.8M | $109.6M | $75.7M | $6.2M | $6.8M | $17.3M |
| Inversiones a Corto | 0 | $26.0M | $17.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | $106000 | $37000 | $19000 | $15000 | $50000 | 0 | $3.9M | $402000 | $217000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $27.5M | $61.4M | $35.1M | $63.1M | $99.5M | $111.7M | $78.9M | $11.3M | $8.6M | $17.6M |
| Inmovilizado Material | 0 | $1.4M | $6.9M | $9.1M | $9.1M | $12.1M | $12.3M | $4.8M | $452000 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $27.5M | $63.5M | $42.8M | $73.4M | $109.9M | $125.2M | $92.4M | $17.7M | $9.3M | $17.6M |
| Cuentas por Pagar | $683000 | $3.5M | $1.4M | $1.9M | $3.5M | $3.5M | $6.8M | $6.3M | $7.5M | $3.5M |
| Deuda a Corto | $320000 | 0 | 0 | $1.2M | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $3.2M | $3.6M | $5.6M | $7.8M | $9.5M | $10.8M | $15.1M | $15.4M | $12.6M | $7.9M |
| Deuda a Largo | 0 | 0 | 0 | $12.2M | 0 | 0 | $27.4M | 0 | 0 | 0 |
| Pasivos Totales | $3.2M | $3.7M | $6.4M | $21.8M | $11.5M | $12.8M | $46.1M | $17.6M | $13.2M | $8.1M |
| Reservas | -$17.1M | -$48.4M | -$79.1M | -$125.5M | -$185.5M | -$251.8M | -$329.4M | -$381.0M | -$396.7M | -$398.6M |
| Patrimonio Neto | $24.3M | $59.8M | $36.4M | $51.7M | $98.4M | $112.4M | $46.3M | $123000 | -$3.9M | $9.5M |
| Deuda Total | $320000 | 0 | 0 | $15.5M | $2.2M | $2.0M | $31.4M | $2.5M | $878000 | 0 |
| Deuda Neta | -$27.2M | -$61.0M | -$34.1M | -$45.9M | -$95.6M | -$107.6M | -$44.3M | -$3.7M | -$6.0M | -$17.3M |
| Capital Circulante | $24.3M | $57.8M | $29.5M | $55.3M | $90.0M | $100.9M | $63.7M | -$4.0M | -$4.0M | $9.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $19.0M | $17.3M | $16.3M | $15.2M |
| Activos Totales | $19.4M | $17.6M | $16.6M | $15.6M |
| Pasivos Totales | $9.6M | $8.1M | $8.0M | $8.1M |
| Patrimonio Neto | $9.8M | $9.5M | $8.6M | $7.5M |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$12.7M | -$31.3M | -$30.7M | -$46.4M | -$60.0M | -$66.4M | -$77.5M | -$51.6M | -$15.8M | -$1.9M |
| Amortizaciones | 0 | $2000 | $630000 | $1.4M | $1.8M | $2.3M | $3.0M | $2.2M | $823000 | $41000 |
| Compensación en Acciones | 0 | $2.0M | $5.0M | $2.7M | $3.0M | $3.3M | $2.3M | $568000 | -$450000 | $129000 |
| Cambio en Capital Circulante | $663000 | $597000 | $2.5M | $132000 | $3.1M | -$637000 | $4.0M | -$3.0M | -$628000 | -$1.7M |
| Flujo de Caja Operativo | -$4.1M | -$12.9M | -$19.2M | -$33.6M | -$37.3M | -$53.7M | -$65.1M | -$49.5M | -$11.4M | -$5.3M |
| Inversiones (CapEx) | 0 | -$2.8M | -$7.9M | -$3.7M | -$4.4M | -$5.4M | -$3.1M | -$114000 | 0 | 0 |
| Adquisiciones | 0 | -$2.4M | $1.1M | 0 | 0 | 0 | $127000 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$611000 | 0 |
| Flujo de Caja Libre | -$4.1M | -$15.7M | -$27.2M | -$37.3M | -$41.7M | -$59.0M | -$68.1M | -$49.6M | -$11.4M | -$5.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$818000 | -$1.7M | -$1.0M | -$967000 |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$818000 | -$1.7M | -$1.0M | -$967000 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $23000 | $23000 | 0 | $21000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | -147.3% | +2.0% | -57.1% | -24.6% | -10.6% | -16.8% | +33.4% | +69.5% | +87.8% |
| Crecimiento BPA (anual) | | -156.6% | +8.1% | -17.3% | +14.6% | +33.3% | +1.3% | +46.7% | +57.2% | +84.8% |
| Cambio en Acciones (anual) | | -3.7% | +6.7% | +33.8% | +45.8% | +67.1% | +17.7% | +24.8% | -28.8% | -19.9% |
| Crecimiento FCF (anual) | | -281.4% | -72.7% | -37.1% | -12.0% | -41.5% | -15.4% | +27.2% | +77.0% | +53.9% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-2.36 | $-9.35 | $-15.13 | $-15.51 | $-11.90 | $-10.08 | $-9.88 | $-5.76 | $-1.86 | $-1.07 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.10 | $0.00 |
| Acciones en Circulación (Básicas) | $1.7M | $1.7M | $1.8M | $2.4M | $3.5M | $5.9M | $6.9M | $8.6M | $6.1M | $4.9M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -34.23% |
| Rentabilidad sobre capital invertido | -45.77% |
| Rentabilidad sobre activos | -19.43% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 1.97 |
| Piotroski F-Score | 3 |
| Altman Z-Score | -31.16 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1015.19 | -483.99 | -129.17 | -152.77 | -166.01 | -109.21 | -26.33 | -11.25 | -3.44 | -2.52 |
| P/VC | 529.48 | 253.03 | 108.85 | 142.43 | 101.11 | 64.90 | 44.14 | 4721.76 | -14.00 | 0.51 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |