Document:

Exhibit 10.1

 

XyNOMIC
PHARMACUTICALS HOLDINGS, INC.

 

SECURITIES
PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (this “Agreement”) is made and entered into as of July 10, 2019, by and between Xynomic Pharmaceuticals Holdings,
Inc., a Delaware corporation (the “Company”), and the Investors set forth on the signature pages affixed hereto (each
an “Investor” and collectively the “Investors”).

 

WHEREAS, the
Investors wish to purchase from the Company, and the Company wishes to sell and issue to the Investors, upon the terms and conditions
stated in this Agreement, in the aggregate a minimum of USD$5,000,000 (the “Minimum Amount”) and a maximum of USD$15,000,000
(the “Maximum Amount”) of units (the “Units”) of the Company, at a purchase price of USD$3.80 per Unit
(subject to adjustment). Each Unit consists of one share of common stock of the Company, par value $0.0001 per share (the “Common
Stock”) and one half warrant (the “Warrant”). Each Whole Warrant can be exchanged to purchase one share of the
Company Stock at $7.00 per share and shall expire in three years of the issuance, and have the rights and preference set forth
in the form of Warrant (the “Form of Warrant”) attached hereto as Exhibit A, upon the terms and conditions set forth
in this Agreement;

 

WHEREAS, the
Units, the shares included in the Units (the “Unit Shares”), the Warrants and the shares of Common Stock underlying
the Warrant (the “Warrant Shares”) issued or issuable pursuant to this Agreement are together referred to herein as
the “Securities”;

 

WHEREAS, the
Warrant is detachable from the Shares and both the Warrant and Shares are currently listed on Nasdaq; and

 

WHEREAS, in
connection with the Investors’ purchase of the Securities, the Investors have agreed to enter into a lock-up agreement (the
“Form of Lock-up Agreement”) with the Company as Exhibit B; upon the terms and conditions set forth in this Agreement;

 

NOW, THEREFORE,
in consideration of the mutual terms, conditions and other agreements set forth herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto hereby
agree to the sale and purchase of the Securities as set forth herein.

 

		1.	Definitions.

 

For purposes of this
Agreement, the terms set forth below shall have the corresponding meanings provided below.

 

“1933 Act”
means the Securities Act of 1933, as amended.

 

“1934 Act”
means the Securities Exchange Act of 1934, as amended.

 

“Affiliate”
shall mean, with respect to any specified Person, (i) if such Person is an individual, the spouse, heirs, executors, or legal representatives
of such individual, or any trusts for the benefit of such individual or such individual’s spouse and/or lineal descendants,
or (ii) otherwise, another Person that directly, or indirectly through one or more intermediaries, controls, is controlled by,
or is under common control with, the Person specified. As used in this definition, “control” shall mean the possession,
directly or indirectly, of the sole and unilateral power to cause the direction of the management and policies of a Person, whether
through the ownership of voting securities or by contract or other written instrument.

 

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“Blue Sky Application”
is defined in Section 5.4(a) hereto.

 

“Business Day”
shall mean any day on which banks located in New York, New York and Hong Kong are not required or authorized by law to remain closed.

 

“Closing”
and “Closing Date” are defined in Section 2.2(c).

 

“Company’s
knowledge” means the knowledge of that each of the executive officers and directors (as defined in Rule 405 under the 1933
Act) of the Company, and the knowledge that each such person would have reasonably obtained after making due and appropriate inquiry.

 

“First Closing”
and “First Closing Date” are defined in Section 2.2(a).

 

“Liens”
means any mortgage, lien, title claim, assignment, encumbrance, security interest, adverse claim, contract of sale, restriction
on use or transfer or other defect of title of any kind.

 

“Lock-Up Release
Date” means the date on which the Lock-Up Period (as defined in the applicable Lock-Up Agreement) under the applicable Lock-Up
Agreement has ended for all Registrable Securities to which it applies.

 

“Material Adverse
Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial or otherwise),
business, or prospects of the Company and its Subsidiaries taken as a whole, (ii) the ability of the Company to perform its obligations
under the Transaction Documents, or (iii) the legality, validity or enforceability of any Transaction Documents.

 

“Person”
shall mean an individual, entity, corporation, partnership, association, limited liability company, limited liability partnership,
joint-stock company, trust or unincorporated organization.

 

“Piggyback Registration”
is defined in Section 5.1 hereto.

 

“Purchase Price”
shall mean the per Unit purchase price of USD$3.80 and the aggregate purchase price of up to USD$15,000,000.

 

“Registrable
Securities” shall mean the Unit Shares, Warrant Shares and the Warrants; provided, however, that a security shall cease to
be a Registrable Security upon (A) sale pursuant to a Registration Statement or Rule 144 or Regulation S under the 1933 Act, or
(B) such security becoming eligible for sale by the Investors pursuant to Rule 144 or Regulation S without volume limitations.

 

“Registration
Statement” shall mean any registration statement of the Company filed under the 1933 Act that covers the resale of any of
the Registrable Securities pursuant to the provisions of this Agreement, amendments and supplements to such Registration Statement,
including post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement.

 

“Regulation D”
is defined in Section 3.7 hereto.

 

“Regulation S”
means Regulation S under the 1933 Act, as amended (or a successor rule).

 

“Rule 144”
is defined in Section 6.1(a)(C) hereto.

 

“SEC” means
the United States Securities and Exchange Commission.

 

“Securities”
is defined in the recitals above.

 

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“Subsequent Closing”
and “Subsequent Closing Date” are defined in Section 2.2(b).

 

“Subsidiaries”
shall mean any corporation or other entity or organization, whether incorporated or unincorporated, in which the Company owns,
directly or indirectly, any equity or other ownership interest or otherwise controls through contract or otherwise.

 

“Transaction
Documents” shall mean this Agreement, the Form of Warrants, and the Lock-up Agreement, the exhibits, schedules, appendices
and any other documents or agreements executed in connection with the transactions contemplated hereunder.

 

“Transfer”
shall mean any sale, transfer, assignment, conveyance, charge, pledge, mortgage, encumbrance, hypothecation, security interest
or other disposition, or to make or effect any of the above.

 

“Underwriter”
is defined in Section 5.2 hereto.

 

“Underwriting
Documents” shall mean an underwriting agreement in customary form and all other agreements and other documents reasonably
requested by an underwriter in connection with an underwritten public offering of equity securities (including, without limitation,
questionnaires, powers of attorney, indemnities, custody agreements and lock-up agreements).

 

		2.	Sale and Purchase of Units.

 

2.1 Subscription
for Units by Investors. Subject to the terms and conditions of this Agreement, on the Closing Date (as hereinafter defined) each
of the Investors shall severally, and not jointly, purchase, and the Company shall sell and issue to the Investors, the Units,
in the respective amounts set forth on the signature pages attached hereto in exchange for the Purchase Price.

 

2.2 Closings.

 

(a) First
Closing. Subject to the terms and conditions set forth in this Agreement, the Company shall issue and sell to each Investor, and
each Investor shall, severally and not jointly, purchase from the Company on the First Closing Date, such number of Units set forth
on the signature pages attached hereto provided that that Investors shall subscribe in an aggregate no less than the Minimum Amount
of Units (the “First Closing”). The date of the First Closing is hereinafter referred to as the “First Closing
Date.” Notwithstanding anything to the contrary in this Agreement, the Company has sole discretion to waive the requirement
of the Minimum Amount and proceed with the First Closing. If the First Closing does not occur within 6 months after the date of
this Agreement, unless the applicable Investor and the Company have agreed upon a later First Closing Date, with respect to the
applicable Investor and the Company, this Agreement shall terminate automatically at the end of such a 6-month period. 

 

(b) Subsequent
Closing(s). In the event that the Maximum Amount of Units has not been sold in the First Closing, the Company reserves the right
to issue and sell Units to other investors (a “Subsequent Closing”). There may be more than one Subsequent Closing;
provided, however that the final Subsequent Closing shall take place no later than September 30, 2019, provided that, in the event
that the relevant SAFE registration as specified in Section 7.6 herein below has not been completed by September 30. 2019, the
Subsequent Closing for the relevant Chinese Investor will be automatically postponed for a further three months and, provided further
that, unless the Company and the relevant Chinese Investor agree otherwise, this Agreement will be terminated automatically with
no liabilities on the Company and the relevant Chinese Investor if SAFE registration have not been obtained by December 31, 2019.
The date of any Subsequent Closing is hereinafter referred to as a “Subsequent Closing Date”). Notwithstanding the
foregoing, the aggregate maximum number of Units to be sold at the First Closing and all Subsequent Closings shall be 3,947,368
Units.

 

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(c) Closing.
The First Closing and any applicable Subsequent Closings are each referred to in this Agreement as a “Closing.” The
First Closing Date and any Subsequent Closing Dates are sometimes referred to herein as a “Closing Date.” All Closings
shall occur no later than Septebmer 30, 2019 unless otherwise extended by the Company and the Investor for the purpose of the completion
of SAFE registration, at the offices of Hunter Taubman Fischer & Li LLC, counsel to the Company, at 1450 Broadway, 26th Floor,
New York, New York 10018, or remotely via the exchange of documents and signatures.

 

2.3 Closing
Deliveries. At each Closing, the Company shall deliver to the Investors, against delivery by each Investor of the Purchase Price
(as provided below), duly issued Form of Warrants representing the Warrants and certificate representing the Unit Shares. At each
Closing, each Investor shall deliver or cause to be delivered to the Company the Purchase Price set forth in its counterpart signature
page annexed hereto by paying United States dollars by wire transfer to the following bank account:

 

	 	Acct. Name: Xynomic Pharmaceuticals, Inc. 
	 	ABA Number: 322271627
	 	Swift Code: CHASUS33
	 	Acct Number: 106985119

 

		3.	Representations, Warranties and Acknowledgments of the
Investors.

 

Each Investor severally and not jointly
represents and warrants to the Company solely as to such Investor that:

 

3.1 Authorization.
The execution, delivery and performance by such Investor of the Transaction Documents to which such Investor is a party have been
duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable against such Investor
in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

3.2 Purchase
Entirely for Own Account. The Securities to be received by such Investor hereunder will be acquired for such Investor’s own
account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the 1933
Act, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the same in
violation of the 1933 Act, without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose
of all or any part of such Securities in compliance with applicable federal and state securities laws. Nothing contained herein
shall be deemed a representation or warranty by such Investor to hold the Securities for any period of time. Such Investor is not
a broker-dealer registered with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.

 

3.3 Investment
Experience. Such Investor acknowledges that the purchase of the Units is a speculative investment and that it can bear the economic
risk and complete loss of its investment in the Securities and has such knowledge and experience in financial or business matters
that it is capable of evaluating the merits and risks of the investment contemplated hereby.

 

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3.4 Disclosure
of Information. Such Investor has had an opportunity to receive all information related to the Company and the Securities requested
by it and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions
of the offering of the Securities. Neither such inquiries nor any other due diligence investigation conducted by such Investor
shall modify, amend or affect such Investor’s right to rely on the Company’s representations and warranties contained
in this Agreement. Such Investor acknowledges that it has received and reviewed [the Private Placement Term Sheet] describing the
offering of the Securities and has access to the public filings the Company made with the U.S. Securities and Exchange Commission.

 

3.5 Restricted
Securities. Such Investor understands that the Securities are characterized as “restricted securities” under the U.S.
federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and
that under such laws and applicable regulations such securities may be resold without registration under the 1933 Act only in certain
limited circumstances.

 

3.6 Legends.
It is understood that, except as provided below, Form of Warrants evidencing the Warrants and the certificates evidencing the Unit
Shares and the Warrant Shares, when issued and delivered, may bear the following or any similar legend:

 

(A) “The
securities represented hereby may not be transferred unless (i) such securities have been registered for sale pursuant to the Securities
Act of 1933, (ii) such securities may be sold pursuant to Rule 144 or Regulation S under said Act, or (iii) the Company has received
an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities
Act of 1933 or qualification under applicable state securities laws.”

 

(B) “The
securities represented by this certificate are subject to a lock-up agreement between Xynomic Pharmaceuticals Holdings, Inc. and
the holder and may only be offered, sold, transferred, pledged or otherwise disposed during the term of the lockup pursuant to
the terms set forth therein.”

 

(C) If
required by the authorities of any state in connection with the issuance of sale of the Securities, the legend required by such
state authority.

 

3.7 Eligible
Investor. Such Investor is an accredited investor as defined in Rule 501(a) of Regulation D under the 1933 Act (“Regulation
D”).

 

3.8 No
General Solicitation. Such Investor did not learn of the investment in the Securities as a result of any public advertising or
general solicitation. The Investor confirms that it has had a substantive pre-existing relationship and direct contact with the
Company and its representatives and it did not independently contact the Company as a result of the general solicitation by means
of a registration statement.

 

3.9 Brokers
and Finders. No Investor will have, as a result of the transactions contemplated by the Transaction Documents, any valid right,
interest or claim against or upon the Company, any Subsidiary or any other Investor for any commission, fee or other compensation
pursuant to any agreement, arrangement or understanding entered into by or on behalf of such Investor.

 

		4.	Representations and Warranties of the Company.

 

The Company represents,
warrants and covenants to the Investors that:

 

4.1 Organization:
Execution, Delivery and Performance.

 

(a) The
Company and each of its Subsidiaries, if any, is a corporation or other entity duly organized, validly existing and in good standing
under the laws of the jurisdiction in which it is incorporated or organized, with full power and authority (corporate and other)
to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.
The Company and each of its Subsidiaries is duly qualified as a foreign corporation to do business and is in good standing in every
jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such qualification necessary
except where the failure to be so qualified or in good standing would not have a Material Adverse Effect.

 

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(b) (i)
The Company has all requisite corporate power and authority to enter into and perform the Transaction Documents and to consummate
the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms hereof and thereof,
(ii) the execution and delivery of the Transaction Documents by the Company and the consummation by the Company of the transactions
contemplated hereby and thereby (including without limitation, the issuance of the Shares, and the issuance and reservation for
issuance of the Converted Shares) have been duly authorized by the Company’s Board of Directors and no further consent or
authorization of the Company, its Board of Directors, or its stockholders, is required, (iii) each of the Transaction Documents
has been duly executed and delivered by the Company by its authorized representative, and such authorized representative is a true
and official representative with authority to sign each such document and the other documents or certificates executed in connection
herewith and bind the Company accordingly, and (iv) each of the Transaction Documents constitutes, and upon execution and delivery
thereof by the Company will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except to the extent limited by applicable bankruptcy, insolvency, reorganization, moratorium or other
laws of general application affecting enforcement of creditors’ rights and general principles of equity that restrict the
availability of equitable or legal remedies.

 

4.2 The
Securities Duly Authorized. The Units, Unit Shares and Warrants to be issued to each such Investor pursuant to this Agreement,
when issued and delivered in accordance with the terms of this Agreement, will be duly and validly issued and will be fully paid
and non-assessable and free from all taxes or Liens with respect to the issue thereof and shall not be subject to preemptive rights
or other similar rights of stockholders of the Company. The Warrant Shares will be duly authorized and reserved for future issuance
and, upon exercise of the Warrants in accordance with its terms, will be duly and validly issued, fully paid and non-assessable,
and free from all taxes or Liens with respect to the issue thereof and shall not be subject to preemptive rights or other similar
rights of stockholders of the Company. The Company has reserved from its duly authorized capital stock the maximum number of shares
of Common Stock issuable pursuant to this Agreement. It is not necessary in connection with the issuance and sale of the Securities
to register the Securities under the 1933 Act or to qualify or register the Securities under applicable U.S. state securities laws.
None of the Company, its Subsidiaries or their respective Affiliates or any Person acting on its or their behalf have engaged in
any “directed selling efforts” within the meaning of Rule 903 of Regulation S.

 

4.3 Capitalization.
As of the date of this Agreement, the authorized capital stock of the Company consists of (i) 200,000,000 shares of Common Stock,
par value $0.0001 per share (“Common Stock”), of which approximately 46,273,846 shares are issued and outstanding,
and (ii) 50,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”), of which no share is
issued and outstanding. All of the issued and outstanding shares of the Common Stock have been duly and validly authorized. Schedule
4.3 sets forth the complete and accurate capitalization of the Company immediately prior to the First Closing including the number
of shares of the following: (i) issued and outstanding Common Stock; (ii) granted stock options; and (iii) warrants
or stock purchase rights, if any. All other arrangements agreed upon by and among the Company, the controlling stockholder of the
Company and individual Investor regarding the transactions contemplated by this Agreement have been disclosed in Schedule 4.3.
Except as contemplated by the Transaction Documents or as set forth on Schedule 4.3 hereto:

 

(i) no
shares of Common Stock are entitled to preemptive, conversion or other rights and there are no outstanding options, warrants, scrip,
rights to subscribe to, call or commitments of any character whatsoever relating to, or securities or rights convertible into,
any shares of capital stock of the Company;

 

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(ii) there
are no contracts, commitments, understandings, or arrangements by which the Company is or may become bound to issue additional
shares of capital stock of the Company or options, securities or rights convertible into shares of capital stock of the Company;

 

(iii) the
Company is not a party to any agreement granting registration or anti-dilution rights to any person with respect to any of its
equity or debt securities; and 

 

(iv) the
Company is not a party to, and it has no knowledge of, any agreement restricting the voting or transfer of any shares of the capital
stock of the Company. 

 

The offer and sale of all capital stock,
convertible securities, rights, warrants, or options of the Company issued prior to the Closing complied with all applicable Federal
and state securities laws. The Company has furnished or made available to the Purchasers true and correct copies of the Company’s
Certificate of Incorporation, as amended and in effect on the date hereof (the “Certificate”), and the Company’s
Bylaws, as amended and in effect on the date hereof (the “Bylaws”). Except as restricted under applicable federal,
state, local or foreign laws and regulations, the Certificate, the Units or the Transaction Documents, or as set forth on Schedule
4.3, no written or oral contract, instrument, agreement, commitment, obligation, plan or arrangement of the Company shall limit
the payment of dividends on the Company’s Common Stock.

 

4.4 Intentionally
Left Blank.

 

4.5 Listing.
The shares of Common Stock are registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on
Nasdaq as of the date hereof. As of the date hereof, the Company has received a written notice from the staff of The NASDAQ Stock
Market LLC (“Nasdaq”) indicating that the Staff had determined to delist the Company’s securities from Nasdaq
based upon the Company’s non-compliance with Nasdaq Listing Rules 5505(a)(3) and 5515(a)(4), which require a minimum of 300
round lot holders of common stock and 400 round lot holders of warrants for initial listing on Nasdaq as well as the Company’s
non-compliance with the minimum $5 million in stockholders’ equity. The Company has requested a hearing with Nasdaq which
is scheduled to be held on July 11, 2019.

 

4.6 No
General Solicitation. Neither the Company nor any person participating on the Company’s behalf in the transactions contemplated
hereby has conducted any “general solicitation,” as such term is defined in Regulation D promulgated under the 1933
Act, with respect to any of the Securities being offered hereby.

 

4.7 No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Investors. The issuance of the Securities to the
Investors will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any stockholder approval provisions applicable to the Company or its securities.

 

4.8 No
Brokers. Except as set forth in Section 9.1, the Company has taken no action which would give rise to any claim by any person for
brokerage commissions, transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

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4.9 Disclosure.
All information relating to or concerning the Company or any of its Subsidiaries, officers, directors, employees, customers or
clients: (i) set forth in this Agreement and/or (ii) as disclosed in any exhibit or certification thereto and/or (iii) filings
made by the Company with the SEC is true and correct in all material respects and the Company has not omitted to state any material
fact necessary in order to make the statements made herein or therein, in light of the circumstances under which they were made,
not misleading.

 

4.10 Form
D; Blue Sky Laws. To the extent applicable, the Company agrees to file a Form D with respect to the Securities as required under
Regulation D. The Company shall, on or before the Closing Date, take such action as the Company shall reasonably determine is necessary
to qualify the Securities for sale to the Investors in the applicable closing pursuant to this Agreement under applicable securities
or “blue sky” laws of the states of the United States (or to obtain an exemption from such qualification).

 

		5.	Registration Rights.

 

5.1 Participation
in Registrations. Whenever the Company proposes to register any of its securities under the 1933 Act, whether for its own account
or for the account of another stockholder (except for the registration of securities (A) to be offered pursuant to an employee
benefit plan on Form S-8 or (B) pursuant to a registration made on Form S-4, or any successor forms then in effect) at any time
and the registration form to be used may be used for the registration of the Registrable Securities (a “Piggyback Registration”),
it will so notify in writing all holders of Registrable Securities no later than the earlier to occur of (i) the tenth (10th) day
following the Company’s receipt of notice of exercise of other demand registration rights, or (ii) thirty (30) days prior
to the anticipated filing date. Subject to the provisions of this Agreement, the Company will include in the Piggyback Registration
all Registrable Securities, on a pro rata basis based upon the total number of Registrable Securities with respect to which the
Company has received written requests for inclusion within fifteen (15) business days after the applicable holder’s receipt
of the Company’s notice.

 

5.2 Underwritten
Offerings. In the event a registration giving rise to the Investors’ rights pursuant to Section 5.1 relates to an underwritten
offering of securities, the Investors’ right to registration pursuant to Section 5.1 shall be conditioned upon its (i) participation
in such underwriting, (ii) inclusion of the Registrable Securities therein and (iii) execution of all underwriting documents requested
by the underwriter with respect thereto (the “Underwriter”). If the managing underwriter gives the Company its written
opinion that the total number or dollar amount of securities requested to be included in the registration exceeds the number or
dollar amount of securities that can be sold, the Company will include the securities in the registration in the following order
of priority: (A) first, all securities the Company proposes to sell; and (B) second, pro rata among all other holders of securities
(including the holders of Registrable Securities) that have registration rights, if any, in each case, on the basis of the dollar
amount or number of securities requested to be included, as the case may be.

 

5.3 Expenses.
All fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to the Registration Statement. The fees and expenses referred to in
the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses (A) with respect to filings required to be made with the trading market on which the Common Stock is then listed
for trading, and (B) in compliance with applicable state securities or Blue Sky laws, (ii) printing expenses, (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of counsel and independent public accountants for the Company, and
(v) fees and disbursements of one counsel to the Investors not to exceed $5,000.

 

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5.4 Indemnification.

 

(a) Indemnification
by the Company. The Company will indemnify and hold harmless each Investor and its officers, directors, members, employees and
agents, successors and assigns, and each other person, if any, who controls such Investor within the meaning of the 1933 Act, against
any losses, claims, damages or liabilities, joint or several, to which they may become subject under the 1933 Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: (i) any
untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, any preliminary prospectus
or final prospectus contained therein, or any amendment or supplement thereof; (ii) any blue sky application or other document
executed by the Company specifically for that purpose or based upon written information furnished by the Company filed in any state
or other jurisdiction in order to qualify any or all of the Registrable Securities under the securities laws thereof (any such
application, document or information herein called a “Blue Sky Application”); (iii) the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; (iv)
any violation by the Company or its agents of any rule or regulation promulgated under the 1933 Act applicable to the Company or
its agents and relating to action or inaction required of the Company in connection with such registration; or (v) any failure
to register or qualify the Registrable Securities included in any such registration in any state where the Company or its agents
has affirmatively undertaken or agreed in writing that the Company will undertake such registration or qualification on an Investor’s
behalf and will reimburse such Investor, and each such officer, director or member and each such controlling person for any legal
or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability
or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission
so made in conformity with information furnished by such Investor or any such controlling person in writing specifically for use
in such Registration Statement or related prospectus.

 

(b) Indemnification
by the Investors. Each Investor agrees, severally but not jointly, to indemnify and hold harmless, to the fullest extent permitted
by law, the Company, its directors, officers, employees, stockholders and each person who controls the Company (within the meaning
of the 1933 Act) against any losses, claims, damages, liabilities and expense (including reasonable attorney fees) resulting from
any untrue statement of a material fact or any omission of a material fact required to be stated in the Registration Statement
or related prospectus or preliminary prospectus or amendment or supplement thereto or necessary to make the statements therein
not misleading, to the extent, but only to the extent that such untrue statement or omission is contained in any information furnished
in writing by such Investor to the Company specifically for inclusion in such Registration Statement or related prospectus or amendment
or supplement thereto. In no event shall the liability of an Investor be greater in amount than the dollar amount of the proceeds
(net of all expense paid by such Investor in connection with any claim relating to this Section 5.4 and the amount of any damages
such Investor has otherwise been required to pay by reason of such untrue statement or omission) received by such Investor upon
the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation.

 

(c) Conduct
of Indemnification Proceedings. Any person entitled to indemnification hereunder shall (i) give prompt notice to the indemnifying
party of any claim with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume the defense
of such claim with counsel reasonably satisfactory to the indemnified party; provided that any person entitled to indemnification
hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses
of such counsel shall be at the expense of such person unless (a) the indemnifying party has agreed to pay such fees or expenses,
or (b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory
to such person or (c) in the reasonable judgment of any such person, based upon written advice of its counsel, a conflict of interest
exists between such person and the indemnifying party with respect to such claims (in which case, if the person notifies the indemnifying
party in writing that such person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying
party shall not have the right to assume the defense of such claim on behalf of such person); and provided, further, that the failure
of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations hereunder,
except to the extent that such failure to give notice shall materially adversely affect the indemnifying party in the defense of
any such claim or litigation. It is understood that the indemnifying party shall not, in connection with any proceeding in the
same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any time for all such indemnified
parties. No indemnifying party will, except with the consent of the indemnified party, consent to entry of any judgment or enter
into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect of such claim or litigation,

 

    B-9

     

    

 

(d) Contribution.
If for any reason the indemnification provided for in the preceding paragraphs (a) and (c) is unavailable to an indemnified party
or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying party shall contribute to
the amount paid or payable by the indemnified party as a result of such loss, claim, damage or liability in such proportion as
is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant
equitable considerations. No person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the 1933 Act
shall be entitled to contribution from any person not guilty of such fraudulent misrepresentation. In no event shall the contribution
obligation of a holder of Registrable Securities be greater in amount than the dollar amount of the proceeds (net of all expenses
paid by such holder in connection with any claim relating to this Section 5.4 and the amount of any damages such holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it upon
the sale of the Registrable Securities giving rise to such contribution obligation.

 

5.5 Cooperation
by Investor. Each Investor shall furnish to the Company or the Underwriter, as applicable, such information regarding the Investor
and the distribution proposed by it as the Company may reasonably request in connection with any registration or offering referred
to in this Section 5. Each Investor shall cooperate as reasonably requested by the Company in connection with the preparation of
the registration statement with respect to such registration, and for so long as the Company is obligated to file and keep effective
such registration statement, shall provide to the Company, in writing, for use in the registration statement, all such information
regarding the Investor and its plan of distribution of the Shares included in such registration as may be reasonably necessary
to enable the Company to prepare such registration statement, to maintain the currency and effectiveness thereof and otherwise
to comply with all applicable requirements of law in connection therewith.

 

5.6 Restriction
of Offerings. Notwithstanding anything to the contrary contained in this Agreement, the Investors shall not be entitled to request,
and the Company shall not be obligated to effect the sale or transfer of any Registrable Securities resulting from any registration
(including any Demand Registration or Piggyback Registration) pursuant to this Section 5 of Unit Shares and Warrant Shares
held by such persons prior to the Lock-Up Release Date while they are subject to restrictions on transfer under the applicable
Lock-Up Agreement, and no such sale or transfer will be permitted until the Lock-Up Release Date.

 

5.7 Limitations
on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written
consent of the holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or
prospective holder of any securities of the Company that would provide to such holder the right to include securities in any registration
on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all holders have
had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include.

 

    B-10

     

    

 

		5A.	Undertakings of the Company

 

5A. 1 If the
Company is granted to stay by the Nasdaq hearing panel, it shall use best efforts to regain compliance with Nadaq listing
requirements within the granted period, provided that in the event that the Company is delisted by Nasdaq, the Company shall
use best efforts to get relisted on Nasdaq or another internationally recognized securities exchange within 12 months after
the effective date of delisting.

 

5A. 2 With a view
to making available to the Investors the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time
permit an Investor to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3,
the Company shall:

 

(a) make
and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times
after the effective date of the Registration Statement filed by the Company;

 

(b) use
commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company
under the 1933 Act and the 1934 Act (at any time after the Company has become subject to such reporting requirements); and

 

(c) furnish
to any Investor, so long as the Investor owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a
written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety
(90) days after the effective date of the Registration Statement filed by the Company), the 1933 Act, and the 1934 Act (at any
time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities
may be resold pursuant to Form S-3 (at any time after the Company so qualifies) and (ii) such other information as may be reasonably
requested in availing any Investor of any rule or regulation of the SEC that permits the selling of any such securities without
registration (at any time after the Company has become subject to the reporting requirements under the 1934 Act) or pursuant to
Form S-3 (at any time after the Company so qualifies to use such form).

 

		6.	Transfer Restrictions.

 

6.1 Transfer
or Resale. Each Investor understands that:

 

(a) Except
as provided in the registration rights provisions set forth above, the sale or resale of all or any portion or component of the
Securities has not been and is not being registered under the 1933 Act or any applicable state securities laws, and that all or
any portion or component of Securities may not be transferred unless:

 

(A) the
Securities are sold pursuant to an effective registration statement under the 1933 Act,

 

(B) the
Investor shall have delivered to the Company, at the cost of the Company, a customary opinion of counsel that shall be in form,
substance and scope reasonably acceptable to the Company, to the effect that the Securities to be sold or transferred may be sold
or transferred pursuant to an exemption from such registration,

 

    B-11

     

    

 

(C) the
Securities are sold or transferred to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor
rule) (“Rule 144”)) of the Investor who agrees to sell or otherwise transfer the Securities only in accordance with
this Section 6.1 and who is an Accredited Investor, as such term is defined in Rule 501(a) of Regulation D,

 

(D) the
Securities are sold pursuant to Rule 144, or

 

(E) the
Securities are sold pursuant to Regulation S;

 

and, in each case, the Investor shall have
delivered to the Company, at the cost of the Company, a customary opinion of counsel, in form, substance and scope reasonably acceptable
to the Company. Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged
as collateral in connection with a bona fide margin account or other lending arrangement.

 

6.2 Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered in
the name of each Investor or its nominee, for any Converted Shares in such amounts as specified from time to time by each Investor
to the Company upon conversion of the Converted Shares in accordance with the terms thereof (the “Irrevocable Transfer Agent
Instructions”). Prior to registration of the Converted Shares under the 1933 Act or the date on which the Converted Shares
may be sold pursuant to Rule 144 without any restriction as to the number of Securities as of a particular date that can then be
immediately sold, all such certificates shall bear the restrictive legend specified in Section 3.6(A) or 3.8(v), as applicable
of this Agreement. Nothing in this Section shall affect in any way the Investor’s obligations and agreement set forth in
Section 6.1 hereof to comply with all applicable prospectus delivery requirements, if any, upon re-sale of the Securities. If an
Investor provides the Company with a customary opinion of counsel, that shall be in form, substance and scope reasonably acceptable
to such counsel, to the effect that a public sale or transfer of such Securities may be made without registration under the 1933
Act and such sale or transfer is effected, the Company shall permit the transfer, and, in the case of the Converted Shares, promptly
instruct its transfer agent to issue one or more certificates, free from restrictive legend, in such name and in such denominations
as specified by such Investor. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable
harm to the Investors, by vitiating the intent and purpose of the transactions contemplated hereby. Accordingly, the Company acknowledges
that the remedy at law for a breach of its obligations under this Section 6.2 may be inadequate and agrees, in the event of a breach
or threatened breach by the Company of the provisions of this Section, that the Investors shall be entitled, in addition to all
other available remedies, to an injunction restraining any breach and requiring immediate transfer, without the necessity of showing
economic loss and without any bond or other security being required.

 

6.3 Lock-Up.
Each Investor acknowledges and agrees that the Units, the Unit Shares, the Warrants and the Warrants Shares shall not be transferable,
saleable or assignable until six months of the earlier of the Closing and the effective date of a registration statement in connection
with the first follow-on public offering of the Company after the execution of this Agreement.

 

		7.	Conditions to Closing of the Investors.

 

The obligation of each
Investor to purchase the Unit at the Closing is subject to the fulfillment to such Investor’s satisfaction, on or prior to
the Closing Date, of the following conditions, any of which may be waived by such Investor (as to itself only):

 

7.1 Representations
and Warranties. The representations and warranties made by the Company in Section 4 hereof qualified as to materiality shall be
true and correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly
speaks as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date,
and, the representations and warranties made by the Company in Section 4 hereof not qualified as to materiality shall be true and
correct in all material respects at all times prior to and on the Closing Date, except to the extent any such representation or
warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all
material respects as of such earlier date. The Company shall have performed in all material respects all obligations and covenants
herein required to be performed by it on or prior to the Closing Date.

 

    B-12

     

    

 

7.2 Approvals.
The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for
consummation of the purchase and sale of the Securities and the consummation of the other transactions contemplated by the Transaction
Documents, all of which shall be in full force and effect.

 

7.3 Judgments,
Etc. No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy
court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have
been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby
or in the other Transaction Documents.

 

7.4 Company
CEO/CFO Certificate. The Company shall have delivered a Certificate, executed on behalf of the Company by its Chief Executive Officer
or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in subsections
7.1, 7.2 and 7.3.

 

7.5 Company
Secretary Certificate. The Company shall have delivered a Certificate, executed on behalf of the Company by its Secretary, dated
as of the Closing Date, certifying the resolutions adopted by the Board of Directors of the Company approving the transactions
contemplated by this Agreement and the other Transaction Documents and the issuance of the Securities, certifying the current versions
of the Certificate and Bylaws of the Company and certifying as to the signatures and authority of persons signing the Transaction
Documents and related documents on behalf of the Company. The foregoing certificate shall only be required to be delivered on the
First Closing Date, unless any information contained in the certificate has changed.

 

7.6 SAFE
Registration. The Investor, as applicable, has completed necessary foreign exchange registration with the relevant State Administration
of Foreign Exchange (“SAFE”) of the People’s Republic of China or other governmental agency in China to exchange
RMB into U.S. dollars and/or to purchase the Units.

 

7.7 Opinion
of Company Counsel. The Investor shall have received a true copy of an opinion issued by the Company’s counsel and addressed
to the transfer agent of the Company in connection with the issuance of the Units and securities underlying the Units to be executed
immediately upon the First Closing.

 

		8.	Conditions to Closing of the Company. The obligations of
the Company to effect the transactions contemplated by this Agreement are subject to the fulfillment at or prior to each Closing
Date of the conditions listed below.

 

8.1 Representations
and Warranties. The representations and warranties made by the Investor in Section 3 shall be true and correct in all material
respects at the time of Closing as if made on and as of such date.

 

    B-13

     

    

 

8.2 Corporate
Proceedings. All corporate and other proceedings required to be undertaken by the Investor in connection with the transactions
contemplated hereby shall have occurred and all documents and instruments incident to such proceedings shall be reasonably satisfactory
in substance and form to the Company.

 

		9.	Miscellaneous.

 

9.1 Notices.
All notices, requests, demands and other communications provided in connection with this Agreement shall be in writing and shall
be deemed to have been duly given at the time when hand delivered, delivered by express courier, or sent by facsimile (with receipt
confirmed by the sender’s transmitting device) in accordance with the contact information provided below or such other contact
information as the parties may have duly provided by notice.

 

	The Company:	 	 
	 	 	 
	Xynomic Pharmaceuticals Holdings, Inc.	With a copy to:	Hunter Taubman Fischer & Li LLC
	Suite 3306, K. Wah Centre, 	 	1450 Broadway, 26th Fl. 
	1010 Middle Huaihai Road,	 	New York, New York 10018
	Shanghai 200031, China	 	Telephone: +1 (212)-530-2232
	Telephone: +86-21-5418-0212	 	Facsimile: +1(212) 202-6380
	Attention: Yinglin  Mark Xu, Chariman and Chief Executive Officer	 	Attention: Arila Zhou, Esq.
	 	 	 
	The Investors:	 	 
	 	 	 
	As per the contact information provided on the signature page hereof.

 

9.2 Survival
of Representations and Warranties. Each party hereto covenants and agrees that the representations and warranties of such party
contained in this Agreement shall survive the Closing.

 

9.3 Entire
Agreement. This Agreement contains the entire agreement between the parties hereto in respect of the subject matter contained herein
and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter contained
herein.

 

9.4 Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and, except for the Placement Agent, which is specifically agreed to be and acknowledged by each party as a third
party beneficiary hereof, is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

9.5 Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither
the Company nor any Investor shall assign this Agreement or any rights or obligations hereunder without the prior written consent
of the other. Notwithstanding the foregoing, but subject to the provisions of Section 6.1 and 6.3 hereof, any Investor may, without
the consent of the Company, assign its rights hereunder to any person that purchases Securities in a private transaction from an
Investor or to any of its “affiliates,” as that term is defined under the 1934 Act.

 

9.6 Intentionally
Left Blank.

 

    B-14

     

    

 

9.7 Binding
Effect; Benefits. This Agreement and all the provisions hereof shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns; nothing in this Agreement, expressed or implied, is intended to confer on
any persons other than the parties hereto or their respective successors and permitted assigns, any rights, remedies, obligations
or liabilities under or by reason of this Agreement.

 

9.8 Amendment;
Waivers. All modifications, amendments or waivers to this Agreement shall require the written consent of both the Company and a
majority in interest of the Investors (based on the number of Shares purchased hereunder).

 

9.9 Applicable
Law: Disputes. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents
shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to
the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect
to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Action,
any claim that it is not personally subject to the jurisdiction of any such court, that such Action is improper or is an inconvenient
venue for such Action. Each party hereby irrevocably waives personal service of process and consents to process being served in
any such Action by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to
such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any other manner permitted by law. If any party shall commence an Action to enforce any provisions of the Transaction
Documents, then, in addition to the obligations of the Company under Section 5.4, the prevailing party in such Action shall be
reimbursed by the non-prevailing party for its reasonable attorneys’ fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such Action. For purposes of this Section “Action” means any notice of
noncompliance or violation, or any claim, demand, charge, action, suit, litigation, audit, settlement, complaint, stipulation,
assessment or arbitration, or any request (including any request for information), inquiry, hearing, proceeding or investigation,
by or before any federal, state, local, foreign or other governmental, quasi-governmental or administrative body, instrumentality,
department or agency or any court, tribunal, administrative hearing body, arbitration panel, commission, or other similar dispute-resolving
panel or body.

 

9.10 Further
Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts and shall execute and
deliver all such other agreements, certificates, instruments and documents as any other party hereto reasonably may request in
order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

9.11 Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which
taken together shall constitute one and the same instrument. This Agreement may also be executed via facsimile or .pdf transmission,
which shall be deemed an original.

 

9.12 WAIVER
OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY UNDER THIS AGREEMENT,
THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

[Signature
Pages Immediately Follow] 

 

    B-15

     

    

 

IN WITNESS WHEREOF,
the undersigned Investors and the Company have caused this Securities Purchase Agreement to be duly executed as of the date first
above written.

 

	 	Xynomic Pharmaceuticals Holdings, Inc. 
	 	 
	 	By:	
        /s/ Yinglin Mark Xu

	 	 	Name: 	Yinglin Mark Xu
	 	 	Title:	Chairman, CEO and President
	 	 	 	 
	 	INVESTORS:
	 	 
	 	The Investors executing the Signature Page in the form attached hereto as Annex A and delivering the same to the Company or its agents shall be deemed to have executed this Agreement and agreed to the terms hereof.

 

    B-16

     

    

 

Annex A

Securities Purchase Agreement

Investor Counterpart Signature Page

 

The undersigned desiring
to (i) enter into this Securities Purchase Agreement dated as of ______, 2019 (the “Agreement”), between the undersigned
Xynomic Pharmaceuticals Holdings, Inc., a Delaware corporation (the “Company”), and the other parties hereto, in or
substantially in the form furnished to the undersigned and (ii) purchase the securities of the Company as set forth below, hereby
agrees to purchase such securities from the Company as of the Closing and further agrees to join the Agreement as a party thereto,
with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and conditions thereof. The
undersigned specifically acknowledges having read the representations in the Agreement section entitled “Representations,
Warranties and Acknowledgements of the Investors,” and hereby represents that the statements contained therein are complete
and accurate with respect to the undersigned as an Investor.

 

	Name of Investor:	All Investors:
	 	 
	If an entity:	Address: __________________________________
	 	 __________________________________
	Print Name of Entity:	 
	 	 
	 __________________________________	Telephone No.:   __________________________________
	 	 
	 	 
	 	 

 

	By:	______	 ________________________	Facsimile No.:  __________________________________
	 	Name:		 
	 	Title:		 

 

	If an individual:	 
	 	 
	Print Name:	 __________________________	Email Address:  __________________________________
	 	 	 
	Signature:	 __________________________	 
	 	 	The Investor hereby elects to purchase _________ Units (to be completed by Investor) under the Securities Purchase Agreement at a price of $3.80 per Unit for a total Purchase Price of $_________ (to be completed by Investor).Exhibit
10.2

 

THESE
WARRANTS AND ANY SHARES ACQUIRED UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES AND ANY INTEREST OR PARTICIPATION HEREIN
OR THEREIN MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SUCH ACT AND UNDER
ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES MAY NOT BE EXERCISED OR TRANSFERRED EXCEPT UPON THE CONDITIONS
SPECIFIED IN THIS WARRANT CERTIFICATE, AND NO EXERCISE OR TRANSFER OF THESE WARRANTS OR TRANSFER OF SUCH SHARES SHALL BE VALID
OR EFFECTIVE UNLESS AND UNTIL SUCH CONDITIONS SHALL HAVE BEEN COMPLIED WITH.

  

XYNOMIC
PHARMACEUTICALS HOLDINGS, INC.

 

Warrant
To Purchase Common Stock Shares

 

Warrant
No.: __________

Date
of Issuance: ________ (“Issuance Date”)

 

Xynomic
Pharmaceuticals Holdings, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, __________________, the registered
holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to
purchase from the Company, at the Exercise Price (as defined below) then in effect, upon exercise of this Warrant to Purchase
shares of Common Stock (the “Warrant Shares”) with par value USD$0.0001 each (including any Warrants to purchase
shares issued in exchange, transfer or replacement hereof, the “Warrant”), at any time or times on or after
the Issuance Date until the third anniversary of the Issuance Date. Except as otherwise defined herein, capitalized terms in this
Warrant shall have the meanings set forth in Section 17. This Warrant is issued pursuant to that certain Securities Purchase Agreement,
dated as of ___________, by and among the Company and the buyers referred to therein (the “Securities Purchase Agreement”).

 

1.
EXERCISE OF WARRANT.

 

(a) Mechanics
of Exercise. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day on
or after the Issuance Date, in whole or in part, by delivery (whether via facsimile or otherwise) of a written notice, in the
form attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise
this Warrant, by submitting information including the then-applicable Exercise Price, number of Warrant Shares purchased equal
to or lower than the then-applicable number of Warrant Shares (collectively, the “Exercise Information”). The
Holder does not guarantee the accuracy of the then-applicable Exercise Price and the inaccuracy of the then-applicable Exercise
Price on the Exercise Notice shall not render the Exercise Notice invalid. Within one (1) Trading Day following an exercise of
this Warrant as aforesaid, the Holder shall deliver payment to the Company of an amount equal to the Exercise Price in effect
on the date of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised (the “Aggregate
Exercise Price”) in cash or via wire transfer of immediately available funds if not, subject to the provisions of Section
1(d). The Holder shall not be required to deliver the original of this Warrant in order to effect an exercise hereunder. Execution
and delivery of an Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as cancellation
of the original of this Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant
Shares. Execution and delivery of an Exercise Notice for all of the then-remaining Warrant Shares shall have the same effect as
cancellation of the original of this Warrant after delivery of the Warrant Shares in accordance with the terms hereof. On or before
the second (2nd) Trading Day following the date on which the Company has received an Exercise Notice, upon checking
that the Exercise Information supplied by the Holder is accurate, the Company shall transmit by facsimile or email an acknowledgment
of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit B, to the Holder and
the Company’s transfer agent (the “Transfer Agent”). On or before the third (3rd) Trading
Day following the date on which the Company has received such Exercise Notice and, in the event that the Holder has chosen to
exercise in cash, the receipt of the payment of the Aggregate Exercise Price , the Company shall (X) provided that the Transfer
Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program,
upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant
to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian
system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and mail
to the Holder or, at the Holder’s instruction pursuant to the Exercise Notice, the Holder’s agent or designee, in
each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered
in the Company’s share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice),
for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. Upon delivery of an Exercise
Notice and in the event that the Holder has chosen to exercise in cash, the Company’s receipt of the payment of the Aggregate
Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s
DTC account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be). If this Warrant is
submitted in connection with any exercise pursuant to this Section 1(a) and the total number of Warrant Shares represented by
this Warrant is greater than the number of Warrant Shares being acquired by the Holder upon an exercise, then, at the request
of the Holder, the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and
at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 7(d)) representing
the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the
number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to be issued
upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to the nearest
whole number. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company in respect
of the issuance or delivery of shares of Common Stock upon the exercise of this Warrant, but the Company shall not be obligated
to pay any transfer taxes in respect of this Warrant or such shares.

   

(b) Exercise
Price. For purposes of this Warrant, “Exercise Price” means $7.00 per share of Common Stock, subject to
adjustment as provided herein.

  

     

     

    

 

(c) Company’s
Failure to Timely Deliver Securities. If the Company shall fail, for any reason or for no reason, to issue to the Holder within
five (5) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of shares of Common Stock
to which the Holder is entitled and register such shares of Common Stock on the Company’s share register or to credit the
Holder’s balance account with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s
exercise of this Warrant (as the case may be), the Holder will have the right to rescind such exercise. In addition to any other
rights available to the Holder, if the Company shall fail, for any reason or for no reason, to issue to the Holder within five
(5) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of shares of Common Stock to which
the Holder is entitled and register such shares of Common Stock on the Company’s share register or to credit the Holder’s
balance account with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise
of this Warrant (as the case may be) and if on or after such fifth (5th) Trading Day the Holder (or any other Person
in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of all or any portion of the number of shares of Common Stock, or a sale of a number of
shares of Common Stock equal to all or any portion of the number of shares of Common Stock, issuable upon such exercise that the
Holder so anticipated receiving from the Company, then, in addition to all other remedies available to the Holder, the Company
shall, within three (3) Business Days after the Holder’s request and in the Holder’s discretion, either (i) pay cash
to the Holder in an amount equal to the Holder’s total purchase price (including reasonable brokerage commissions and other
reasonable out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including, without limitation, by any
other Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), at which point the Company’s
obligation to so issue and deliver such certificate or credit the Holder’s balance account with DTC for the number of shares
of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder (as the case may be) (and to issue
such shares of Common Stock) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to the Holder a certificate
or certificates representing such shares of Common Stock or credit the Holder’s balance account with DTC for the number
of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder (as the case may be) and
pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares
of Common Stock multiplied by (B) the lowest Closing Sale Price of the shares of Common Stock on any Trading Day during the period
commencing on the date of the applicable Exercise Notice and ending on the date of such issuance and payment under this clause
(ii).

 

(d) Net
Exercise. In lieu of exercising this Warrant for cash, the Holder may elect to receive shares equal to the value of this Warrant
(or the portion thereof being exercised) pursuant to the formula as set forth in this Section 1(d) by surrender of this Warrant
at the principal office of the Company together with notice of such election (a “Net Exercise”). A Holder who
Net Exercises shall have the rights described in this Section 1(d), and the Company shall issue to such Holder a number of shares
of Common Stock computed using the following formula:

 

 

 

Where

 

		X
                                         =	The
                                         number of shares of Common Stock to be issued to the Holder.

 

		Y
                                         =	The
                                         number of shares of Common Stock purchasable under this Warrant or, if only a portion
                                         of the Warrant is being exercised, the portion of the Warrant to be cancelled upon the
                                         partial exercise (at the date of such calculation).

 

		A
                                         =	The
                                         fair market value of one (1) share of Common Stock (at the date of such calculation).

 

B
= The Exercise Price (as adjusted to the date of such calculation).

 

For
purposes of this Section 1(d):

 

(i)
If the Company’s shares of Common Stock are traded on a securities exchange, the fair market value shall be deemed to be
the Closing Sale Price of the Company’s shares of Common Stock for the trading day immediately prior to the date of the
Holder’s election hereunder.

 

(ii) If
the Company’s shares of Common Stock is actively traded over-the-counter, the fair market value shall be deemed to be the
closing bid or sales price, whichever is applicable, of the Company’s shares of Common Stock for the trading day immediately
prior to the date of the Holder’s election hereunder.

 

(iii) If
neither subsections (i) nor (ii) is applicable, the fair market value shall be determined in good faith by the Board of Directors
of the Company based on relevant facts and circumstances at the time of the Net Exercise.

  

    2

     

    

 

(e) Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant
Shares to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares
that are not disputed and resolve such dispute in accordance with Section 14.

 

(f) Intentionally
Left Blank.

 

(g) Insufficient
Authorized Shares. The Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common
Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock hereunder (without regard
to any limitation otherwise contained herein with respect to the number of shares of Common Stock that may be acquirable upon
exercise of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while the Warrant remains
outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation
to reserve for issuance upon exercise of the Warrant at least a number of shares of Common Stock equal to the number of Shares
of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding (the “Required
Reserve Amount”) (an “Authorized Share Failure”), then the Company shall immediately take all action
necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient to allow the Company to reserve
the Required Reserve Amount for the Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon
as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after
the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its shareholders for the approval of an increase
in the number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each shareholder
with a proxy statement and shall use its best efforts to solicit its shareholders’ approval of such increase in authorized
shares of Common Stock and to cause its board of directors to recommend to the shareholders that they approve such proposal.

 

2. ADJUSTMENT
OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and number of Warrant Shares issuable upon exercise of
this Warrant are subject to adjustment from time to time as set forth in this Section 2. The Company shall notify the Investors
of the adjusted Exercise Prices, the underlying transactions and the adjustment mechanisms in writing within five (5) Business
Days after the occurrence of such events that trigger the adjustments.

 

(a) Share
Dividends and Splits. Without limiting any provision of Section 4, if the Company, at any time on or after the date of the
Securities Purchase Agreement, (i) pays a share dividend on one or more classes of its then outstanding shares of Common Stock
or otherwise makes a distribution on any class of share capital that is payable in shares of Common Stock, (ii) subdivides (by
any share split, share dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock
into a larger number of shares or (iii) combines (by combination, reverse share split or otherwise) one or more classes of its
then outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and
of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment
made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of
shareholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph
shall become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment
under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation of such Exercise
Price shall be adjusted appropriately to reflect such event.

  

    3

     

    

 

(b) Number
of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to only paragraph (a) of this Section
2, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately,
so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be
the same as the aggregate Exercise Price in effect immediately prior to such adjustment (without regard to any limitations on
exercise contained herein).

 

(c) Other
Events. In the event that the Company (or any Subsidiary (as defined in the Securities Purchase Agreement)) shall take
any action to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder
from dilution or if any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for
by such provisions (including, without limitation, the granting of share appreciation rights, phantom share rights or other rights
with equity features), then the Company’s board of directors shall in good faith determine and implement an appropriate
adjustment in the Exercise Price and the number of Warrant Shares (if applicable) so as to protect the rights of the Holder, provided
that no such adjustment pursuant to this Section 2(d) will increase the Exercise Price or decrease the number of Warrant Shares
as otherwise determined pursuant to this Section 2, provided further that if the Holder does not accept such adjustments as appropriately
protecting its interests hereunder against such dilution, then the Company’s board of directors and the Holder shall agree,
in good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose
determination shall be final and binding and whose fees and expenses shall be borne by the Company.

 

(d) Calculations.
All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100th of a share,
as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or
for the account of the Company, and the disposition of any such shares shall be considered an issue or sale of shares of Common
Stock.

 

3. RIGHTS
UPON DISTRIBUTION OF ASSETS. In addition to any adjustments pursuant to Section 2 above, if the Company shall declare or make
any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way
of return of capital or otherwise (including, without limitation, any distribution of cash, share or other securities, property
or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon a complete exercise of this Warrant (without regard to any limitations
on exercise hereof) immediately before the date on which a record is taken for such Distribution, or, if no such record is taken,
the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution.

 

4.
Intentionally Left Blank.

 

5. Intentionally
Left Blank.

 

    4

     

    

 

6. WARRANT
HOLDER NOT DEEMED A SHAREHOLDER. Except as otherwise specifically provided herein, the Holder, solely in its capacity as a
holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company
for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in its capacity as
the Holder of this Warrant, any of the rights of a shareholder of the Company or any right to vote, give or withhold consent to
any corporate action (whether any reorganization, issue of share, reclassification of share, consolidation, merger, conveyance
or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the
Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of this Warrant. In addition, nothing
contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise
of this Warrant or otherwise) or as a shareholder of the Company, whether such liabilities are asserted by the Company or by creditors
of the Company. Notwithstanding this Section 6, the Company shall provide the Holder with copies of the same notices and other
information given to the shareholders of the Company generally, contemporaneously with the giving thereof to the shareholders.

 

7. REISSUANCE
OF WARRANTS.

 

(a) Transfer
of Warrant. If this Warrant is to be
transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company will forthwith issue and deliver upon
the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may request, representing the
right to purchase the number of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant Shares
then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 7(d)) to the Holder representing
the right to purchase the number of Warrant Shares not being transferred.

 

(b) Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant (as to which a written certification and the indemnification contemplated
below shall suffice as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the
Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this
Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the
right to purchase the Warrant Shares then underlying this Warrant.

 

(c) Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office
of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase
the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such
portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no warrants for
fractional shares of Common Stock shall be given.

 

(d) Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such
new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant,
the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to
Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common
Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares
then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same
as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

  

    5

     

    

 

8. NOTICES;
CURRENCY; PAYMENTS.

 

(a) Whenever
notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance
with Section 9.2 of the Securities Purchase Agreement. The Company shall provide the Holder with prompt written notice of all
actions taken pursuant to this Warrant, including in reasonable detail a description of such action and the reason therefor. Without
limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment
of the Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the calculation of
such adjustment(s) and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record
(A) with respect to any dividend or distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or
sales of any Options, Convertible Securities or rights to purchase share, warrants, securities or other property to holders of
shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation,
provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being
provided to the Holder and (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction. To the
extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or
any of its Subsidiaries, the Company shall simultaneously file such notice with the SEC (as defined in the Securities Purchase
Agreement) pursuant to a Current Report on Form 8-K. It is expressly understood and agreed that the time of execution specified
by the Holder in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company.

 

(b) Currency.
All amounts owing under this Warrant that, in accordance with their terms, are paid in cash shall be paid in United States dollars
(“U.S. Dollars”). All amounts denominated in other currencies (if any) shall be converted into the U.S. Dollar
equivalent amount in accordance with the Exchange Rate on the date of calculation. “Exchange Rate” means, in
relation to any amount of currency to be converted into U.S. Dollars pursuant to this Warrant, the U.S. Dollar exchange rate as
published in the Wall Street Journal on the relevant date of calculation (it being understood and agreed that where an amount
is calculated with reference to, or over, a period of time, the date of calculation shall be the final date of such period of
time).

 

(c) Payments.
Whenever any payment is to be made by the Company to any Person pursuant to this Warrant, such payment shall be made in lawful
money of the United States of America via wire transfer of U.S. Dollars in immediately available funds in accordance with the
Holder’s wire transfer instructions delivered to the Company on or prior to such payment date or, in the absence of such
instructions, by a certified check drawn on the account of the Company and sent via overnight courier service to such Person at
such address as previously provided to the Company in writing.

 

9. AMENDMENT
AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant may be amended and the Company may take any
action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the
written consent of the Holder. The Holder shall be entitled, at its option, to the benefit of any amendment of any other similar
warrant. No consideration shall be offered or paid to the Holder to amend or consent to a waiver or modification of any provision
of this Warrant unless the same consideration is also offered to all of the holders of any other similar warrant. No waiver shall
be effective unless it is in writing and signed by an authorized representative of the waiving party.

 

10. SEVERABILITY.
If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

  

    6

     

    

 

11. GOVERNING
LAW. This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State of New York, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions)
that would cause the application of the laws of any jurisdiction other than the State of New York. The Company hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for
the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein,
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that
the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from
bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations
to the Holder or to enforce a judgment or other court ruling in favor of the Holder. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

12. JUDGMENT
CURRENCY.

 

(a) If
for the purpose of obtaining or enforcing judgment against the Company in any court in any jurisdiction it becomes necessary to
convert into any other currency (such other currency being hereinafter in this Section 12 referred to as the “Judgment
Currency”) an amount due in U.S. Dollars under this Warrant, the conversion shall be made at the Exchange Rate prevailing
on the Trading Day immediately preceding:

 

(i) the
date actual payment of the amount due, in the case of any proceeding in the courts of New York or in the courts of any other jurisdiction
that will give effect to such conversion being made on such date: or

 

(ii) the
date on which the foreign court determines, in the case of any proceeding in the courts of any other jurisdiction (the date as
of which such conversion is made pursuant to this Section 12(a)(ii) being hereinafter referred to as the “Judgment Conversion
Date”).

 

(b) If
in the case of any proceeding in the court of any jurisdiction referred to in Section 12(a)(ii) above, there is a change in the
Exchange Rate prevailing between the Judgment Conversion Date and the date of actual payment of the amount due, the applicable
party shall pay such adjusted amount as may be necessary to ensure that the amount paid in the Judgment Currency, when converted
at the Exchange Rate prevailing the date of payment, will produce the amount of U.S. Dollars which could have been purchased with
the amount of Judgment Currency stipulated in the judgment or judicial order at the Exchange Rate prevailing on the Judgment Conversion
Date. 

 

(c) Any
amount due from the Company under this provision shall be due as a separate debt and shall not be affected by judgment being obtained
for any other amounts due under or in respect of this Warrant.

  

    7

     

    

 

13. CONSTRUCTION;
HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or
affect the interpretation of, this Warrant. Terms used in this Warrant but defined in the other Transaction Documents shall have
the meanings ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented to in writing
by the Holder.

 

14. DISPUTE
RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or fair market value or the arithmetic
calculation of the Warrant Shares (as the case may be), the Company or the Holder (as the case may be) shall submit the disputed
determinations or arithmetic calculations (as the case may be) via facsimile or email (a) within two (2) Business Days after receipt
of the applicable notice giving rise to such dispute to the Company or the Holder (as the case may be) or (b) if no notice gave
rise to such dispute, at any time after the Holder learned of the circumstances giving rise to such dispute (including, without
limitation, as to whether any issuance or sale or deemed issuance or sale was an issuance or sale or deemed issuance or sale of
Excluded Securities). If the Holder and the Company are unable to agree upon such determination or calculation (as the case may
be) of the Exercise Price, or fair market value or the number of Warrant Shares (as the case may be) within three (3) Business
Days of such disputed determination or arithmetic calculation being submitted to the Company or the Holder (as the case may be),
then the Company shall, within two (2) Business Days submit via facsimile or email (i) the disputed determination of the Exercise
Price, the Closing Sale Price, the Bid Price or fair market value (as the case may be) to an independent, reputable investment
bank mutually selected by the parties or (ii) the disputed arithmetic calculation of the Warrant Shares to the Company’s
independent, outside accountant. The Company shall cause at its expense the investment bank or the accountant (as the case may
be) to perform the determinations or calculations (as the case may be) and notify the Company and the Holder of the results no
later than ten (10) Business Days from the time it receives such disputed determinations or calculations (as the case may be).
Such investment bank’s or accountant’s determination or calculation (as the case may be) shall be binding upon all
parties absent demonstrable error.

 

15. REMEDIES,
CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative
and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue
actual damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that
there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided
for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received
by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder
and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such
breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an
injunction restraining any breach, without the necessity of showing economic loss and without any bond or other security being
required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable
the Holder to confirm the Company’s compliance with the terms and conditions of this Warrant (including, without limitation,
compliance with Section 2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise
of this Warrant shall be made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof,
provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the
issuance and delivery of any certificate in a name other than the Holder or its agent on its behalf.

  

    8

     

    

 

16. TRANSFER.
This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company.

 

17. CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a) “Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under Rule 405 under the Securities Act of 1933, as amended (the
“Securities Act”).

 

(b)
“Bloomberg” means Bloomberg, L.P.

 

(c) “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.

 

(d) “Closing
Sale Price” means, for any security as of any date, the last closing trade price for such security on the Eligible Market,
as reported by Bloomberg, or, if the Eligible Market begins to operate on an extended hours basis and does not designate the closing
trade price, then the last trade price of such security prior to 4:00 p.m., New York time, as reported by Bloomberg, or, if the
Eligible Market is not the principal securities exchange or trading market for such security, the last trade price of such security
on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if
the foregoing does not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin
board for such security as reported by Bloomberg, or, if no last trade price is reported for such security by Bloomberg, the average
of the ask prices of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC (formerly
the National Quotation Bureau, Inc.). If the Closing Sale Price cannot be calculated for a security on a particular date on any
of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined
by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security,
then such dispute shall be resolved in accordance with the procedures in Section 14. All such determinations shall be appropriately
adjusted for any share dividend, share split, share combination or other similar transaction during such period.

 

(e) “Convertible
Securities” means any share or other security (other than Options) that is at any time and under any circumstances,
directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire,
any shares of Common Stock.

 

(f) “Eligible
Market” means The New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market
or the Nasdaq Capital Market.

 

(g) “Fundamental
Transaction” means that (i) the Company or any of its Subsidiaries shall, directly or indirectly, in one or more related
transactions, (A) consolidate or merge with or into (whether or not the Company or any of its Subsidiaries is the surviving corporation)
any other Person, or (B) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its
respective properties or assets to any other Person, or (C) allow any other Person to make a purchase, tender or exchange offer
that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares
of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons
making or party to, such purchase, tender or exchange offer), or (D) consummate a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other
Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company (not including
any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or associated or affiliated
with the other Persons making or party to, such stock or share purchase agreement or other business combination), or (E) (1) reorganize,
recapitalize or reclassify the shares of Common Stock, (2) effect or consummate a share combination, reverse share split or other
similar transaction involving the shares of Common Stock or (3) make any public announcement or disclosure with respect to any
share combination, reverse share split or other similar transaction involving the shares of Common Stock (including, without limitation,
any public announcement or disclosure of (a) any potential, possible or actual share combination, reverse share split or other
similar transaction involving the shares of Common Stock or (b) board or shareholder approval thereof, or the intention of the
Company to seek board or shareholder approval of any share combination, reverse share split or other similar transaction involving
the shares of Common Stock), or (ii) any “person” or “group” (as these terms are used for purposes of
Sections 13(d) and 14(d) of the 1934 Act and the rules and regulations promulgated thereunder) is or shall become the “beneficial
owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power
represented by issued and outstanding Voting Stock of the Company.

  

    9

     

    

 

(h) “Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(i) “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or a government or any department or agency thereof.

 

(j) “SEC”
means the United States Securities and Exchange Commission.

 

(k) “Trading
Day” means any day on which the shares of Common Stock is traded on the Eligible Market, or, if the Eligible Market
is not the principal trading market for the shares of Common Stock, then on the principal securities exchange or securities market
on which the shares of Common Stock is then traded, provided that “Trading Day” shall not include any day on which
the shares of Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the shares
of Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or
market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00
p.m., New York time) unless such day is otherwise designated as a Trading Day in writing by the Holder.

 

(l) “Voting
Stock” of a Person means share capital of such Person of the class or classes pursuant to which the holders thereof
have the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers
or trustees of such Person (irrespective of whether or not at the time share capital of any other class or classes shall have
or might have voting power by reason of the happening of any contingency).

 

18.
Registration Rights.

 

Whenever
the Company proposes to register any of its securities under the Securities Act, whether for its own account or for the account
of another shareholder (except for the registration of securities (A) to be offered pursuant to an employee benefit plan on Form
S-8 or (B) pursuant to a registration made on Form S-4, or any successor forms then in effect) at any time and the registration
form to be used may be used for the registration of the Registrable Securities, as defined in the Securities Purchase Agreement
(a “Piggyback Registration”), it will so notify in writing the Holder no later than the earlier to occur of (i) the
tenth (10th) day following the Company’s receipt of notice of exercise of other demand registration rights, or (ii) thirty
(30) days prior to the anticipated filing date. Subject to the provisions of Securities Purchase Agreement, the Company will include
in the Piggyback Registration all Warrant Shares and Warrants, on a pro rata basis based upon the total number of registrable
securities with respect to which the Company has received written requests for inclusion within fifteen (15) business days after
the applicable holder’s receipt of the Company’s notice.

 

[signature
page follows]

  

    10

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to Purchase shares of Common Stock to be duly executed as of the Issuance
Date set out above.

 

	XYNOMIC PHARMACEUTICALS HOLDINGS, INC. 	 
	 	 
	By:	 	 
	Name: 	Yinglin Mark Xu	 
	Title:	Chairman, CEO and President	 

 

     

     

    

  

EXHIBIT
A

 

EXERCISE
NOTICE

 

TO
BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT
TO PURCHASE shares of Common Stock

 

XYNOMIC
PHARMACEUTICALS HOLDINGS, INC.

  

The
undersigned holder hereby exercises the right to purchase _________________ shares of Common Stock (“Warrant Shares”)
of XYNOMIC PHARMACEUTICALS HOLDINGS, INC., a Delaware corporation (the “Company”), evidenced by Warrant
to Purchase shares of Common Stock No. _______ (the “Warrant”). Capitalized terms used herein and not otherwise
defined shall have the respective meanings set forth in the Warrant.

 

1. Form
of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

		____________	with
                                         respect to _________________ Warrant Shares;

 

1. Form
of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as a “Cash Exercise”.

 

2. Payment
of Exercise Price. In the event that the Holder has elected to exercise with respect to some or all of the Warrant Shares
to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company
in accordance with the terms of the Warrant.

 

3. Delivery
of Warrant Shares. The Company shall deliver to Holder, or its designee or agent as specified below, __________ Warrant Shares
in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, as follows:

 

☐ Check
here if requesting delivery as a certificate to the following name and to the following address:

 

	Issue
    to:	 
	 	 
	 	 

  

		☐	Check
                                         here if requesting delivery by Deposit/Withdrawal at Custodian as follows: 

 

	DTC
    Participant:	 
	DTC
    Number:	 
	Account
    Number:	 
	 	 	 

	Date: _____________ __, _____________	 
	 	 
	 	 
	Name of Registered Holder	 

  

	By:	 	 
	 	Name:	 
	 	Title:	 

 

	 	Tax ID:_____________________	 
	 	Facsimile:___________________	 
	 	Email:______________________	 

  

     

     

    

 

EXHIBIT
B

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Exercise Notice and hereby directs ______________ to issue the above indicated number of shares
of Common Stock in accordance with the Transfer Agent Instructions dated _________, 20__, from the Company and acknowledged and
agreed to by _______________.

 

	 	XYNOMIC PHARMACEUTICALS HOLDINGS, INC.
	 	 
	 	By:	                           
	 	 	Name:
	 	 	Title:

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