Stockholders’ Equity |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2023 | |||
| 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 months ended March 31, 2023 and 2022.
In addition, the Company has publicly traded warrants to purchase approximately 21,000 shares of common stock outstanding as of both March 31, 2023 and December 31, 2022. 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. of these warrants were exercised during the three months ended March 31, 2023. Warrants to purchase shares of common stock were exercised on a cashless, one-for-one basis during the three months ended March 31, 2022. of these warrants were forfeited during the three months ended March 31, 2023 and 2022.
The Company also has outstanding warrants to purchase approximately 8,000 shares of the Company’s common stock as of March 31, 2023 and December 31, 2022. 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 months ended March 31, 2023 and 2022. |