Mustang Bio, Inc. (MBIO) shares surged 200.00 percent to $3.57 after the company announced that the U.S. FDA granted Orphan Drug Designation to its investigational therapy MB-101 for the treatment of recurrent astrocytomas and glioblastoma. The stock opened at $3.57 and traded between $3.35 and $7.00, with volume skyrocketing to 256.1 million shares, far above its average of 960,808 on the Nasdaq. MBIO closed the previous session at $1.19 and has a 52-week range of $0.893 to $25.00.
The designation provides Mustang with incentives including potential tax credits, user fee waivers, and seven years of market exclusivity upon approval.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.