Related Party Transactions |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2021 | |||
| Related Party Transactions [Abstract] | |||
| Related Party Transactions |
CVR Agreement
The Company
entered into a CVR Agreement with the former Rexahn stockholders. See Note 2 – Merger.
Convertible Notes
with Related Parties
The Company entered into Convertible Note Purchase
Agreements with certain investors beginning on May 25, 2018. Through September 30, 2020, Convertible Notes in the principal aggregate amount of $0.7
million were issued to four board members and to two officers, one of which was also a board member of the Company. See Note 6 – Convertible
Notes.
Apexian
Sublicense Agreement
On January 21, 2020, as amended on June 4, 2020, the
Company entered into a sublicense agreement with Apexian Pharmaceuticals, Inc. (“Apexian”) and issued a total of 891,422 shares
of common stock (as adjusted for the Exchange Ratio) to Apexian and to certain affiliates of Apexian, following which Apexian became a holder of over 5% of the Company’s common stock. See Note 9 – Apexian Sublicense Agreement.
Pre-Merger
Financing
Five directors of Private Ocuphire and one director of
Rexahn participated in the Pre-Merger Financing, investing an aggregate of $300,000. Following the closing of the Merger, these
directors received 17,729 Converted Initial Shares, 53,189 Converted Additional Shares, 80,366 Series A
Warrants and 9,444 Series B Warrants. See Note 7 – Stockholders’ Equity (Deficit).
Waiver Agreements
Six directors of the Company signed Waiver Agreements, waiving certain reset provisions and financing restrictions. These directors did not receive any of the
additional Series B Warrants that were issued in connection with the Waiver Agreements. See Note 7 – Stockholders’ Equity (Deficit).
|