Mustang Bio Announces Sale of Fixed Assets and Exit of Facility
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Mustang Bio, Inc. has announced the sale of fixed assets and the exit of its manufacturing facility lease in Worcester, Massachusetts. The assets, including furniture and equipment, were sold to AbbVie Bioresearch Center Inc. for $1.0 million.
February 27, 2025 | 9:15 pm
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Mustang Bio has exited its Worcester facility lease and sold fixed assets to AbbVie for $1 million. This move may indicate a strategic shift or cost-cutting measure.
The sale of assets and exit from the facility could be a strategic move to streamline operations or cut costs. However, without further details on the company's future plans, the immediate impact on stock price is neutral.
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