10:50 AM EDT, 07/07/2025 (MT Newswires) -- Mustang Bio ( MBIO ) shares rallied about 350% in recent Monday trading after the US Food and Drug Administration granted orphan drug designation to the firm for its MB-101 for recurrent diffuse and anaplastic astrocytoma and glioblastoma treatment.

The label provides some incentives, such as tax credits toward the cost of clinical trials upon approval and prescription drug user fee waivers, it said.

Preclinical data supported a novel combination of MB-101 and MB-108 to optimize clinical results, the firm said. The FDA granted orphan drug designation to Mustang for MB-108 for the treatment of malignant glioma.

Price: 5.24, Change: +4.05, Percent Change: +340.34