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, 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):

	December 31,
	2022		2021
Prepaids	$	1,373	$	1,243
Other		80		71
Total prepaids and other assets	$	1,453	$	1,314

Property and Equipment, net

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

	December 31,
	2022			2021
Equipment	$	20		$	20
Furniture		5			5
Total property and equipment		25			25
Less accumulated depreciation		(19	)		(15	)
Property and equipment, net	$	6		$	10

Depreciation expense was $4,000 during each of the years ended December 31, 2022 and 2021.

Accrued Expenses

Accrued expenses consist of the following (in thousands):	December 31,
	2022		2021
Income taxes	$	315	$	—
Payroll		782		488
Professional services		208		84
R&D services and supplies		212		1,081
Other		167		80
Total	$	1,684	$	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 was payable in six monthly installments of $108,000 beginning in December 2021. The Loan had an annual interest rate of 5.5% per annum. Interest expense in the amount of $9,000 and $2,000 was recognized in connection with the Loan during the years ended December 31, 2022 and 2021, respectively. The final payment on the Loan was made in May 2022.