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

Quarterly report pursuant to Section 13 or 15(d)

Company Description and Summary of Significant Accounting Policies (Tables)

Company Description and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Company Description and Summary of Significant Accounting Policies [Abstract]

Fair Value of Financial Instruments Measured on a Recurring Basis

The fair value of financial instruments measured on a recurring basis is as follows (in thousands):

	As of June 30, 2022
Description	Total		Level 1		Level 2		Level 3
Assets:
Short-term investments	$	126	$	126	$	—	$	—
Total assets at fair value	$	126	$	126	$	—	$	—

	As of December 31, 2021
Description	Total		Level 1		Level 2		Level 3
Assets:
Short-term investments	$	219	$	219	$	—	$	—
Total assets at fair value	$	219	$	219	$	—	$	—

Fair Value, Investments Measured on a Recurring Basis

The following table provides a roll-forward of short-term investments measured at fair value on a recurring basis using observable level 1 inputs for the six months ended June 30, 2022 and 2021 (in thousands):

	2022			2021
Short-term investments
Balance as of beginning of period	$	219		$	—
Unrealized loss		(93	)		—
Balance as of end of period	$	126		$	—

Warrant Liabilities and Premium Conversion Derivatives Measured at Fair Value

The following table provides a roll-forward of the warrant liabilities measured at fair value on a recurring basis using unobservable level 3 inputs for the six months ended June 30, 2022 and 2021 (in thousands):

	2022		2021
Warrant liabilities
Balance as of beginning of period	$	—	$	27,964
Change in fair value of warrant liabilities		—		33,829
Reclassification of Series A warrants from liability to equity		—		(61,793	)
Balance as of end of period	$	—	$	—