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, 2023

Supplemental Balance Sheet Information [Abstract]

4.	Supplemental Balance Sheet Information

Prepaid and Other Current Assets

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

	December 31,
	2023		2022
Prepaids	$	997	$	1,373
Other		102		80
Total prepaids and other current assets	$	1,099	$	1,453

Property and Equipment, net

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

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

Depreciation expense was $6,000 and 4,000 during the years ended December 31, 2023 and 2022, respectively.

Accrued Expenses

Accrued expenses consist of the following (in thousands):	December 31,
	2023		2022
Income taxes	$	—	$	315
Payroll		753		782
Professional services		591		208
R&D services and supplies		400		212
Other		71		167
Total	$	1,815	$	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 $9,000 was recognized in connection with the Loan during the year ended December 31, 2022. The final payment on the Loan was made in May 2022.