● |
Phase 3 MIRA-2 trial investigating Nyxol for Reversal of Mydriasis with top line data expected in March 2021
|
● |
Phase 2 VEGA-1 trial investigating a kit combination of Nyxol and low-dose pilocarpine for treatment of Presbyopia with top line data expected end of Q2 2021
|
● |
Phase 3 LYNX-1 trial investigating Nyxol for Night Vision Disturbances with top line data expected end of Q3 2021
|
● |
Phase 2 ZETA-1 trial investigating APX3330 for Diabetic Retinopathy and Diabetic Macular Edema: enrollment initiation expected in Q1 2021 with top line data expected
early 2022
|
● |
Phase 3 MIRA-2 trial investigating Nyxol for Reversal of Mydriasis enrollment initiated and completed
|
● |
Phase 3 LYNX-1 trial investigating Nyxol in Night Vision Disturbances initiated
|
● |
Phase 2 trial VEGA-1 to evaluate a combination kit of Nyxol and low-dose pilocarpine in presbyopia initiated
|
● |
Results from ORION-1 Phase 2b trial evaluating the safety and efficacy of Nyxol in glaucoma and presbyopia published in Clinical
Ophthalmology
|
● |
Results from MIRA-1 Phase 2b trial evaluating the safety and efficacy of Nyxol in the reversal of mydriasis (dilation of pupil for eye exams) published in Optometry and Visual Science
|
● |
Data on the benefits of Ref-1 inhibition via APX3330 demonstrating its potential to treat multiple inflammatory and angiogenic disease processes published in Drug Discovery Today and Inflammatory Bowel Disease
|
● |
Completed reverse merger with Rexahn Pharmaceuticals and are a publicly traded company listed on the Nasdaq Capital Market as OCUP as of November 6, 2020
|
● |
Raised $21.15 million in a private placement led by institutional healthcare and accredited investors
|
● |
Participating in multiple Presbyopia events in early 2021 - Discussion on New Advances for Presbyopia, OIS Presbyopia Innovation
Forum, and Eyeing Key Events and Programs in the Ophthalmology Space in 2021
|
As of December 31,
|
||||||||
2020
|
2019
|
|||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
16,399
|
$
|
1,537
|
||||
Prepaids and other assets
|
1,269
|
149
|
||||||
Deferred costs
|
—
|
76
|
||||||
Total current assets
|
17,668
|
1,762
|
||||||
Property and equipment, net
|
14
|
22
|
||||||
Total assets
|
$
|
17,682
|
$
|
1,784
|
||||
Liabilities and stockholders’ deficit
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
1,214
|
$
|
342
|
||||
Accrued expenses
|
1,971
|
621
|
||||||
Convertible notes
|
—
|
4,977
|
||||||
Convertible notes from related parties
|
—
|
690
|
||||||
Premium conversion derivatives
|
—
|
2,714
|
||||||
Total current liabilities
|
3,185
|
9,344
|
||||||
Warrant liabilities
|
27,964
|
—
|
||||||
Total liabilities
|
31,149
|
9,344
|
||||||
Commitments and contingencies
|
||||||||
Stockholders’ deficit
|
||||||||
Preferred stock, par value $0.0001; 10,000,000 and 625,000 shares authorized as of
December 31, 2020 and 2019, respectively; no shares issued and outstanding at December 31, 2020 and 2019.
|
—
|
—
|
||||||
Common stock, par value $0.0001; 75,000,000 and 5,000,000 shares authorized as of
December 31, 2020 and 2019, respectively; 10,882,495 and 2,852,485 shares issued and outstanding at December 31, 2020 and 2019, respectively.
|
1
|
—
|
||||||
Additional paid-in-capital
|
19,207
|
495
|
||||||
Accumulated deficit
|
(32,675
|
)
|
(8,055
|
)
|
||||
Total stockholders’ deficit
|
(13,467
|
)
|
(7,560
|
)
|
||||
Total liabilities and stockholders’ deficit
|
$
|
17,682
|
$
|
1,784
|
For the Year Ended
|
||||||||
December 31,
|
||||||||
2020
|
2019
|
|||||||
Operating expenses:
|
||||||||
General and administrative
|
$
|
2,818
|
$
|
1,820
|
||||
Research and development
|
6,648
|
2,373
|
||||||
Acquired in-process research and development
|
10,502
|
—
|
||||||
Total operating expenses
|
19,968
|
4,193
|
||||||
Loss from operations
|
(19,968
|
)
|
(4,193
|
)
|
||||
Interest expense
|
(6,847
|
)
|
(1,409
|
)
|
||||
Fair value change in derivative and warrant liabilities
|
(1,486
|
)
|
(499
|
)
|
||||
Gain on note extinguishment
|
3,672
|
—
|
||||||
Other income (expense), net
|
9
|
( 68
|
)
|
|||||
Loss before income taxes
|
(24,620
|
)
|
(6,169
|
)
|
||||
Benefit (provision) for income taxes
|
—
|
—
|
||||||
Net loss
|
(24,620
|
)
|
(6,169
|
)
|
||||
Other comprehensive loss, net of tax
|
—
|
—
|
||||||
Comprehensive loss
|
$
|
(24,620
|
)
|
$
|
(6,169
|
)
|
||
Net loss per share:
|
||||||||
Basic and diluted
|
$
|
(5.28
|
)
|
$
|
(2.17
|
)
|
||
Number of shares used in per share calculations:
|
||||||||
Basic and diluted
|
4,661,110
|
2,844,832
|