Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

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Stockholders’ Equity
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Stockholders’ Equity

 

7. Stockholders’ Equity

 

Warrants

 

In connection with its July 2021 private placement, the Company issued warrants to purchase an aggregate of 4,629,630 shares of the Company’s common stock (the “Series A Warrants”). The Series A Warrants are immediately exercisable at a price of $3.30 per share of common stock and expire on February 23, 2025. No Series A Warrants were exercised or forfeited during the three and six months ended June 30, 2022.

 

In addition to the Series A Warrants, warrants to purchase approximately 29,000 and 31,000 shares of the Company’s common stock were outstanding as of June 30, 2022 and December 31, 2021, respectively, as described below.

 

Publicly traded warrants to purchase approximately 21,000 and 23,000 shares of common stock were outstanding as of June 30, 2022 and December 31, 2021, respectively. These warrants have an exercise price of $13.00 per share and expire on July 17, 2024. The warrants trade on NASDAQ under the symbol “XBIOW.” The warrants also provide that if the weighted-average price of common stock on any trading day on or after 30 days after issuance is lower than the then-applicable exercise price per share, each warrant may be exercised, at the option of the holder, on a cashless basis for one share of common stock. Warrants to purchase approximately 1,984 shares and 1,485 shares of common stock were exercised on a cashless, one-for-one basis during the six months ended June 30, 2022 and 2021, respectively. Warrants to purchase approximately 300 shares of common stock were exercised on a cashless, one-for-one basis during the three months ended June 30, 2022. No warrants were exercised during the three months ended June 30, 2021. None of these warrants were forfeited during the three and six months ended June 30, 2022 and 2021.

 

Warrants to purchase approximately 8,000 shares of the Company’s common stock were outstanding as of June 30, 2022 and December 31, 2021. These warrants have an exercise price of $2.91 per share and expire on July 3, 2026. None of these warrants were exercised or forfeited during the three and six months ended June 30, 2022 and 2021.