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, 2023

Supplemental Balance Sheet Information [Abstract]

4.	Supplemental Balance Sheet Information

Prepaid and Other Assets

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

	March 31, 2023		December 31, 2022
Prepaids	$	1,010	$	1,373
Other		78		80
Total prepaids and other assets	$	1,088	$	1,453

Property and Equipment, net

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

	March 31, 2023			December 31, 2022
Equipment	$	20		$	20
Furniture		5			5
Total property and equipment		25			25
Less accumulated depreciation		(20	)		(19	)
Property and equipment, net	$	5		$	6

Depreciation expense was $1,000 during each of the three months ended March 31, 2023 and 2022.

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Income taxes	$	315	$	315
Payroll		233		782
Professional services		222		208
R&D services and supplies		1,120		212
Other		43		167
Total	$	1,933	$	1,684

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 $5,000 was recognized in connection with the Loan during the three months ended March 31, 2022. No interest expense was recognized during the three months ended March 31, 2023.