Ocuphire Pharma Files Q2 2024 10-Q
Ticker: IRD · Form: 10-Q · Filed: Aug 13, 2024 · CIK: 1228627
Sentiment: neutral
Topics: 10-Q, financials, pharmaceutical, reporting
TL;DR
Ocuphire Pharma's Q2 10-Q is in. Check financials and ops updates.
AI Summary
Ocuphire Pharma, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Key financial figures and operational highlights are detailed within the filing.
Why It Matters
This filing provides investors with a crucial update on Ocuphire Pharma's financial health and operational progress for the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Ocuphire Pharma faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20240813 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Ocuphire Pharma, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240813 (date) — Filing date of the 10-Q
- FARMINGTON HILLS, MI (location) — Company's business and mailing address
FAQ
What is the primary business of Ocuphire Pharma, Inc.?
Ocuphire Pharma, Inc. is in the Pharmaceutical Preparations industry, as indicated by its SIC code [2834].
What is the fiscal year end for Ocuphire Pharma?
The company's fiscal year ends on December 31st.
What was the previous name of Ocuphire Pharma?
The company was formerly known as REXAHN PHARMACEUTICALS, INC. and CORPORATE ROAD SHOW DOT COM INC.
What is the address of Ocuphire Pharma?
The company's business and mailing address is 37000 GRAND RIVER AVE., SUITE 120, FARMINGTON HILLS, MI 48335.
For which period is this 10-Q filing?
This 10-Q filing is for the period ending June 30, 2024.
Filing Stats: 4,460 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-08-13 16:06:42
Key Financial Figures
- $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share OCUP The Nasdaq
Filing Documents
- ef20030049_10q.htm (10-Q) — 1374KB
- ef20030049_ex3-1.htm (EX-3.1) — 51KB
- ef20030049_ex10-1.htm (EX-10.1) — 41KB
- ef20030049_ex31-1.htm (EX-31.1) — 8KB
- ef20030049_ex31-2.htm (EX-31.2) — 8KB
- ef20030049_ex32-1.htm (EX-32.1) — 5KB
- 0001140361-24-037068.txt ( ) — 6983KB
- ocup-20240630.xsd (EX-101.SCH) — 66KB
- ocup-20240630_cal.xml (EX-101.CAL) — 32KB
- ocup-20240630_def.xml (EX-101.DEF) — 286KB
- ocup-20240630_lab.xml (EX-101.LAB) — 666KB
- ocup-20240630_pre.xml (EX-101.PRE) — 424KB
- ef20030049_10q_htm.xml (XML) — 1022KB
Financial Statements
Financial Statements 3 Condensed Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Statements of Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 (unaudited) 4 Condensed Statements of Changes in Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 (unaudited) 5 Condensed Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (unaudited) 6 Notes to Condensed Financial Statements (unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 40 Item 4 .
Controls and Procedures
Controls and Procedures 40
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42
SIGNATURES
SIGNATURES 43 2 Index PART I – FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements Ocuphire Pharma, Inc. Condensed Balance Sheets (in thousands, except share amounts and par value) As of June 30 , December 31, 2024 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 41,409 $ 50,501 Accounts receivable 1,358 926 Contract assets and unbilled receivables 948 1,407 Prepaids and other assets 1,114 1,099 Short-term investments 5 15 Total current assets 44,834 53,948 Property and equipment, net — — Total assets $ 44,834 $ 53,948 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 634 $ 2,153 Accrued expenses 3,490 1,815 Derivative liability 74 74 Total current liabilities 4,198 4,042 Total liabilities 4,198 4,042 Commitments and contingencies (Note 3 and Note 8) Stockholders' equity: Preferred stock, par value $ 0.0001 ; 10,000,000 shares authorized as of June 30, 2024 and December 31, 2023 ; no shares issued and outstanding at June 30, 2024 and December 31, 2023 . — — Common stock, par value $ 0.0001 ; 125,000,000 and 75,000,000 shares authorized as of June 30, 2024 and December 31, 2023 , respectively; 25,979,038 and 23,977,491 shares issued and outstanding at June 30, 2024 and December 31, 2023 , respectively. 3 2 Additional paid-in capital 136,970 131,370 Accumulated deficit ( 96,337 ) ( 81,466 ) Total stockholders' equity 40,636 49,906 Total liabilities and stockholders' equity $ 44,834 $ 53,948 See accompanying notes. 3 Index Ocuphire Pharma, Inc. Condensed Statements of Comprehensive Loss (in thousands, except share and per share amounts) (Unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 License and collaborations revenue $ 1,112 $ 3,674 $ 2,823 $ 5,423 Operating expenses: General and administrative 3,354 4,340 8,024 6,625 Research and development 6,086 4,7