Ocuphire Pharma, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Supplemental Balance Sheet Information

Supplemental Balance Sheet Information

12 Months Ended

Dec. 31, 2021

Supplemental Balance Sheet Information [Abstract]

4.	Supplemental Balance Sheet Information

Prepaid and Other Assets

Prepaid and other assets consist of the following (in thousands):

	December 31,
	2021		2020
Prepaids	$	1,243	$	1,243
Other		71		26
Total prepaids and other assets	$	1,314	$	1,269

Property and Equipment, net

Property and equipment held for use by category are presented in the following table (in thousands):

	December 31,
	2021			2020
Equipment	$	20		$	20
Furniture		5			5
Total property and equipment		25			25
Less accumulated depreciation		(15	)		(11	)
Property and equipment, net	$	10		$	14

Depreciation expense was $4,000 and $8,000 for the years ended December 31, 2021 and 2020, respectively.

Accrued Expenses

Accrued expenses consist of the following (in thousands):	December 31,
	2021		2020
R&D services and supplies	$	1,081	$	1,440
Payroll		488		320
Professional services		84		186
Other		80		25
Total	$	1,733	$	1,971

Short-Term Loan

The Company entered into an unsecured short-term loan (the “Loan”) agreement in the amount of $0.6 million in November 2021 related to financing an insurance policy. The Loan is payable in six monthly installments of $108,000 beginning in December 2021. The Loan has an annual interest rate of 5.5% per annum. Interest expense in the amount of $2,000 was recognized in connection with the Loan during the year ended December 31, 2021.