Stockholders’ Equity |
9 Months Ended | ||
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Sep. 30, 2022 | |||
| Equity [Abstract] | |||
| 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. Series A Warrants were exercised or forfeited during the three and nine months ended September 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 September 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 September 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 shares of common stock were exercised during the three months ended September 30, 2022. Warrants to purchase approximately shares of common stock were exercised on a cashless, one-for-one basis during the three months ended September 30, 2021. Warrants to purchase approximately shares and shares of common stock were exercised on a cashless, one-for-one basis during the nine months ended September 30, 2022 and 2021, respectively. of these warrants were forfeited during the three and nine months ended September 30, 2022 and 2021.
Warrants to purchase approximately 8,000 shares of the Company’s common stock were outstanding as of September 30, 2022 and December 31, 2021. These warrants have an exercise price of $2.91 per share and expire on July 3, 2026. of these warrants were exercised or forfeited during the three and nine months ended September 30, 2022 and 2021.
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