Ocuphire Pharma, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Supplemental Balance Sheet Information

Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2022

Supplemental Balance Sheet Information [Abstract]

5.	Supplemental Balance Sheet Information

Prepaid and Other Assets

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

	March 31, 2022		December 31, 2021
Prepaids	$	1,062	$	1,243
Other		33		71
Total prepaids and other assets	$	1,095	$	1,314

Property and Equipment, net

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

	March 31, 2022			December 31, 2021
Equipment	$	20		$	20
Furniture		5			5
Total property and equipment		25			25
Less accumulated depreciation		(16	)		(15	)
Property and equipment, net	$	9		$	10

Depreciation expense was $1,000 during each of the three months ended March 31, 2022 and 2021.

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	March 31,		December 31,
	2022		2021
R&D services and supplies	$	962	$	1,081
Payroll		193		488
Professional services		189		84
Other		75		80
Total	$	1,419	$	1,733

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 $5,000 was recognized in connection with the Loan during the three months ended March 31, 2022.