As part of its strategy, Ocuphire will continue to explore opportunities to acquire additional ophthalmic assets and to seek strategic partners for late-stage development, regulatory preparation and commercialization in key global markets. To date, Ocuphire’s primary activities have been conducting research and development activities, planning clinical trials, performing business and financial planning, recruiting personnel and raising capital. Ocuphire does not have any products approved for sale and has not generated any significant amounts of revenue. Ocuphire does not expect to generate significant revenues until, and unless, the FDA or other regulatory authorities approve Nyxol or APX3330 and Ocuphire successfully commercializes its product candidates.candidates, or if Ocuphire enters into any significant license and/or collaboration agreements. Until such time, if ever, as Ocuphire can generate substantial product revenue, Ocuphire expects to finance its cash needs through a combination of equity and debt financings as well as collaborations, strategic alliances and licensing arrangements. Through JuneSeptember 30, 2022, Ocuphire has funded its operations primarily through equity financings that totaled $52.7$54.1 million in gross proceeds, of which $21.15 million was received in connection with the merger (“Merger”) with Rexahn Pharmaceuticals, Inc. (“Rexahn”), net cash at Rexahn, a minor amount of license fee payments earned under license agreements related to Rexahn’s RX-3117 drug compound, and through the issuance of convertible notes in private placements that totaled $8.5 million in gross proceeds. Ocuphire’s net losses were $11.5$16.1 million and $46.2$50.4 million for the sixnine months ended JuneSeptember 30, 2022 and 2021, respectively. As of JuneSeptember 30, 2022, Ocuphire had an accumulated deficit of $100.9$105.4 million. Ocuphire anticipates that its expenses will increase substantially as it:
Previously, Ocuphire completed a Type-C meeting with the FDA on February 14, 2022 from which it obtained guidance regarding the design of VEGA-2 and VEGA-3 pivotal trials for Nyxol both as a single agent and with LDP as adjunct eye drops for the treatment of presbyopia. In addition to the February 2022 Type-C meeting, Ocuphire completed a Type B (Pre-NDA) meeting on June 24, 2022 from which it obtained guidance on the content of CMC, Clinical and Non-Clinical Modules. The FDA confirmed that OraVerse and Regitine were appropriate to use as reference listed drugs to support a 505(b)(2) NDA. In July 2022, Ocuphire submitted a Phase 3 protocol to the FDA for Study OPI-NYXP-301 (VEGA-2).the VEGA-2 trial. This is the first of two Phase 3 registration trials intended to support thea presbyopia indication for Nyxol alone and Nyxol with LDP and is anticipated to initiate in the second halffourth quarter of 2022. In addition, the VEGA-3 trial (the second Phase 3) and LYRA-1 trial (1-year safety) are planned to begin in 2023. If successful, the Company expectsplans to file a supplemental NDA for Nyxol as a single-agent for presbyopia and a new NDA for the combination thereafter.
Non-clinical Update
In support of conducting clinical trials using Nyxol for chronic indications such as presbyopia and NVD, Ocuphire has successfully completed a 6-month rabbit ocular toxicology study. The findings from the 6-month study provide support for the conduct of the planned 1-year Phase 3 safety trial LYRA-1. The submission of the final report is planned in the fourth quarter of 2022 to the FDA.
In support of the combination of Nyxol and LDP treatment in presbyopia, a 90-day nonclinical ocular toxicology study with Nyxol and LDP in Dutch-belted rabbits has been conducted. The in-life phase has successfully been completed and the report is being finalized with a subsequent submission to the FDA.
Ocuphire Pharma, Inc.
Form 10-Q
Regulatory Update
In August 2022, the FDA granted a small business waiver of the Prescription Drug User Fee Act (PDUFA) fee of $3.1 million for the 505(b)(2) NDA for Nyxol.
Presentations, Publications and Conferences
Ocuphire’s management team and medical advisors have participated by invitation at twentyover 25 medical, scientific, industry and investment conferences from January through AugustOctober 2022, at which over twenty40 papers, posters and panel talks were presented. The Company has been engaging with dozens ofmany key opinion leaders to expand awareness of the Nyxol and APX3330 development programs.
PatentsIn early November 2022, Ocuphire announced a manuscript titled “A randomized phase 2 clinical trial of phentolamine mesylate eye drops in patients with severe night vision disturbances,” was published in peer-reviewed journal BMC Ophthalmology.
On August 3, 2022, Medical Advisory Board
Ocuphire announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 11,400,077, with claims directed to methods of treating mydriasis using phentolamine mesylate. This patent extends patent protection for Nyxol for Reversal of Mydriasis by 5 years into 2039 and is listable in the FDA Orange Book. This new U.S. patent, issued on August 2, 2022, complements the company’s patent estate relating to Nyxol, which contains U.S. and foreign patents and patent applications for phentolamine mesylate formulations and methods of using phentolamine mesylate that include 19 patents and over 30 pending patent applications.
On June 29, 2022, Ocuphire announced that the United States Patent and Trademark Office (USPTO) issued new U.S. patent 11,351,130, which extends the duration of U.S. patent protection for, and broadens coverageexpansion of the company’s late-stage oral product candidate, APX3330. U.S. Patent No. 11,351,130 has claims directed to methods of treatment using APX3330, which makes it eligible for listing in the U.S. FDA Orange Book. It issued on June 7, 2022Medical Advisory Board with seven new medical advisors totaling 22 across refractive, retina and has a term that expires in 2038. Claims in this patent include methods of treating inflammation and chronic pain in a subject suffering from diabetes. This patent complements the company’s patent estate relating to APX3330 and the company’s pipeline products including APX2009 and APX2014, together the subject of over 40 cases that are a combination of patents and pending patent applications directed to ophthalmic and other uses in the U.S., Europe, Japan, and other foreign countries.medical optometry.
Global Economic Conditions
Generally, worldwide economic conditions remain uncertain, particularly due to the effects of the COVID‑19 pandemic and increased inflation. The general economic and capital market conditions both in the U.S. and worldwide, have been volatile in the past and at times have adversely affected the Company’s access to capital and increased the cost of capital. The capital and credit markets may not be available to support future capital raising activity on favorable terms. If economic conditions decline, the Company’s future cost of equity or debt capital and access to the capital markets could be adversely affected.
The COVID-19 pandemic that began in late 2019 introduced significant volatility to the global economy, disrupted supply chains and had a widespread adverse effect on the financial markets. As a result of the COVID-19 pandemic, the Company has experienced, and may continue to experience, delays and disruptions in our clinical trials, as well as interruptions in our manufacturing, supply chain, shipping and research and development operations. Testing and clinical trials, manufacturing, component supply, shipping and research and development operations may be further impacted by the continuing effects of COVID-19COVID-19.
The lingering impacts of COVID-19 throughout 2021 Additionally, the Company’s operating results could be materially impacted by changes in the overall macroeconomic environment and into 2022 have impeded globalother economic factors. Changes in economic conditions, supply chainschain constraints, logistics challenges, labor shortages, the conflict in Ukraine, and resultedsteps taken by governments and central banks, particularly in inflationary cost increases. These broad-based inflationary impacts may increase future manufacturing costs of our products and product candidates. We expect these inflationary impacts to continue for the foreseeable future.
In additionresponse to the directCOVID-19 pandemic as well as other stimulus and indirect impacts of COVID-19, the United Statesspending programs, have led to higher inflation, which has led to an increase in costs and global markets are experiencing volatilityhas caused changes in fiscal and disruption following the escalation of geopolitical tensions and the start of the military conflict between Russia and Ukraine. In February 2022, Russia launched a full-scale military invasion of Ukraine. As a result of the conflict, the United States, United Kingdom, European Union and other countries have levied economic sanctions and bans on Russia and Russia has responded with its own retaliatory measures. These measures have contributed to significant volatility and negative pressure in financial markets. Securities of microcap and small-cap companies,monetary policy, including biotechnology companies in particular, have experienced substantial volatility in the recent past, often based on factors unrelated to the companies’ financial performance or prospects. Further decline in global economic conditions could have a lasting impact on regional and global economies, and may have a material adverse effect on the Company’s results of future operations, financial position, and liquidity for the duration of fiscal year 2022 and beyond.increased interest rates.
Financial Operations Overview
To date, Ocuphire had limited collaborations revenue during the second and third quarters of 2021 related to fees earned from license agreements with BioSense Global LLC (“BioSense”) and Processa Pharmaceuticals, Inc. (“Processa”) in connection with the Rexahn RX-3117 drug compound. We anticipate that we may earn additional revenues stemming from additional milestone and royalty payments from these or other license agreements related to Rexahn’s legacy drug compounds; however, the attainment of milestones or level of sales required to earn royalty payments is highly uncertain.
Ocuphire does not expect to generate significant revenue unless or until it obtains regulatory approval of and commercializes Nyxol or APX3330, or until it enters into a significant license agreement for either Nyxol or APX3330. If Ocuphire fails to complete the development of Nyxol, APX3330, or any other product candidate it may pursue in the future, in a timely manner, or fails to obtain regulatory approval, Ocuphire’s ability to generate significant revenue would be compromised.
Operating Expenses
Ocuphire’s operating expenses are classified into two categories: general and administrative and research and development.
General and Administrative
General and administrative expenses consist primarily of personnel-related costs, including salaries, benefits and stock-based compensation costs, for personnel in functions not directly associated with research and administrative activities. Other significant costs include insurance coverage for directors and officers and other property and liability exposures, legal fees relating to intellectual property and corporate matters, professional fees for accounting and tax services, and other services provided by business consultants. Ocuphire anticipates that its general and administrative expenses will significantly increase in the future to support its continued research and development activities and costs associated with operating as a public company. These increases will include increased costs related to the hiring of additional personnel and fees for legal and professional services as well as other public company-related costs.
Ocuphire Pharma, Inc.
Form 10-Q
Research and Development
To date, Ocuphire’s research and development expenses have been related primarily to the clinical-stage development of Nyxol and APX3330. Research and development expenses consist of costs incurred in performing research and development activities, including compensation and benefits for research and development employees and costs for consultants, costs associated with preclinical studies and clinical trials, regulatory activities, manufacturing activities to support clinical activities, license fees, non-legal patent costs, fees paid to external service providers that conduct certain research and development, and an allocation of overhead expenses. Research and development costs are expensed as incurred and costs incurred by third parties are expensed as the contracted work is performed. Ocuphire accrues for costs incurred as the services are being provided by monitoring the status of the study or project, and the invoices received from its external service providers. Ocuphire adjusts its accrual as actual costs become known. Research and development activities are central to Ocuphire’s business model.
Ocuphire expects that Nyxol and APX3330 will have higher development costs during their later stages of clinical development, as compared to costs incurred during their earlier stages of development, primarily due to the increased size and duration of the later-stage clinical trials. Ocuphire expects its research and development expenses to significantly increase over the next several years. However, it is difficult for Ocuphire to determine with certainty the duration, costs and timing to complete its current or future preclinical programs and clinical trials of Nyxol, APX3330, and other product candidates. The duration, costs and timing of clinical trials and development of Nyxol, APX3330 and other product candidates will depend on a variety of factors that include, but are not limited to, the following:
per patient trial costs;
the number of patients that participate in the trials;
the number of sites included in the trials;
the countries in which the trials are conducted;
the length of time required to enroll eligible patients;
the number of doses that patients receive;
the drop-out or discontinuation rates of patients;
potential additional safety monitoring or other studies requested by regulatory agencies;
the duration of patient follow-up;
the phase of development of the product candidate;
arrangements with contract research organizations and other service providers; and
the efficacy and safety profile of the product candidates.
Interest Expense
Interest expense consists of interest costs relatedrelates to interest on principal related toassociated with a short-term loan (related to financing an insurance policy) havingduring the period it is outstanding. The short-term loan had an annual interest rate of 5.5%.
Fair Value Change in Warrant Liabilities
The fair value change in warrant liabilities comprises the change in the fair value of the warrant liabilities during the period the warrant liabilities are outstanding.
Other Income (Expense), net
Other income (expense), net includes interest earned from cash and cash equivalent investments, realized and unrealized gains (losses) from equity investments and foreign currency exchange transactions, and reimbursements in connection with grants and other sources when they occur. In addition, payments made by us in connection with the Contingent Value Rights Agreement (the “CVR Agreement”) with former Rexahn shareholders when they occur are also included in this line item.
Provision for Income Taxes
Provision for income taxes consists of federal and state income taxes in the United States, as well as deferred income taxes and changes in related valuation allowance reflecting the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Currently, there is no provision for income taxes, as Ocuphire has incurred operating losses to date, and a full valuation allowance has been provided on the net deferred tax assets as of JuneSeptember 30, 2022 and December 31, 2021.
Ocuphire Pharma, Inc.
Form 10-Q
Results of Operations
Comparison of the Three Months Ended JuneSeptember 30, 2022 and 2021
The following table summarizes Ocuphire’s operating results for the periods indicated (in thousands):
| | | For the Three Months Ended | | | For the Three Months Ended | |
| | | June 30, | | | September 30, | |
| | | 2022 | | 2021 | | | Change | | | 2022 | | 2021 | | | Change | |
| | | | | | | | | | | | | | | |
| Collaborations revenue | | $ | — | | | $ | 100 | | | $ | (100 | ) | | $ | — | | $ | 489 | | $ | (489 | ) |
| | | | | | | | | | | | | | | | | | | | |
| Operating expenses: | | | | | | | | | | | | | | | | | | | |
| General and administrative | | | 1,776 | | | | 3,408 | | | | (1,632 | ) | | 1,703 | | 1,595 | | 108 | |
| Research and development | | | 3,162 | | | | 3,829 | | | | (667 | ) | | | 2,835 | | | 3,126 | | | (291 | ) |
| Total operating expenses | | | 4,938 | | | | 7,237 | | | | (2,299 | ) | | | 4,538 | | | 4,721 | | | (183 | ) |
| Loss from operations | | | (4,938 | ) | | | (7,137 | ) | | | 2,199 | | | (4,538 | ) | | (4,232 | ) | | (306 | ) |
| Interest expense | | | (4 | ) | | | — | | | | (4 | ) | |
| Fair value change in warrant liabilities | | | — | | | | — | | | | — | | |
| Other income, net | | | 15 | | | | 1 | | | | 14 | | | | 7 | | | 2 | | | 5 | |
| Loss before income taxes | | | (4,927 | ) | | | (7,136 | ) | | | 2,209 | | | (4,531 | ) | | (4,230 | ) | | (301 | ) |
| Provision for income taxes | | | — | | | | — | | | | — | | | | — | | | — | | | — | |
| Net loss | | $ | (4,927 | ) | | $ | (7,136 | ) | | $ | 2,209 | | | $ | (4,531 | ) | | $ | (4,230 | ) | | $ | (301 | ) |
Collaborations Revenue
Collaborations revenue was $0.1$0.5 million for the three months ended JuneSeptember 30, 2021. Revenue during the period was derived from the license agreement with BioSenseProcessa related to certain technology transfers. There was no collaborations revenue recognized during the current year period.
General and Administrative Expenses
General and administrative expenses for the three months ended JuneSeptember 30, 2022 were $1.8$1.7 million compared to $3.4$1.6 million for the three months ended JuneSeptember 30, 2021. The $1.6$0.1 million decreaseincrease was largely attributed to settlementan increase in legal costs incurred with certain investors in the comparable prior year period.on a net basis. General and administrative expenses included $0.3 million in stock-based compensation expense during each of the three-month periods ended JuneSeptember 30, 2022 and 2021.
Research and Development Expenses
Research and development expenses for the three months ended JuneSeptember 30, 2022 were $3.2$2.8 million compared to $3.8$3.1 million for the three months ended JuneSeptember 30, 2021. The $0.7$0.3 million decrease was primarily attributable to the completion of clinical trials and the timing of manufacturing activities for Nyxol and APX3330. Research and development expenses also included $ 0.2 million in stock-based compensation expense during each of the three-month periods ended June 30, 2022 and 2021.
Interest Expense
Interest expense for the three months ended June 30, 2022 of $4,000 was comprised of interest on principal related to a short-term loan. There was no interest expense during the comparable prior year period.
Fair Value Change in Warrant Liabilities
There was a negligible change to the fair value of the warrant liability associated with the Rexahn warrants during the three months ended JuneSeptember 30, 2022 and 2021.
During the three months ended JuneSeptember 30, 2022, Ocuphire had other income, net of $15,000$7,000 which consisted of interest income related to cash and cash equivalents of $22,000 and realized currency gains of $2,000,$34,000, offset in part by unrealized losses from our short-term investments of $9,000. $25,000 and from realized foreign currency exchange losses of $2,000.
Other income, net during the three months ended JuneSeptember 30, 2021 was attributedconsisted primarily of unrealized gains from our short-term investments and to a lesser extent interest income from our cash and cash equivalent investments in the aggregate of $94,000, offset largely to interest income.by payments due in connection with the CVR Agreement in the amount of $92,000.
Ocuphire Pharma, Inc.
Form 10-Q
Comparison of the SixNine Months Ended JuneSeptember 30, 2022 and 2021
The following table summarizes Ocuphire’s operating results for the periods indicated (in thousands):
| | | For the Six Months Ended | | | For the Nine Months Ended | |
| | | June 30, | | | September 30, | |
| | | 2022 | | 2021 | | | Change | | | 2022 | | 2021 | | Change | |
| | | | | | | | | | | | | | | |
| Collaborations revenue | | $ | — | | | $ | 100 | | | $ | (100 | ) | | $ | — | | $ | 589 | | $ | (589 | ) |
| | | | | | | | | | | | | | | | | | | | |
| Operating expenses: | | | | | | | | | | | | | | | | | | | |
| General and administrative | | | 3,512 | | | | 5,112 | | | | (1,600 | ) | | 5,215 | | 6,707 | | (1,492 | ) |
| Research and development | | | 7,934 | | | | 7,311 | | | | 623 | | | | 10,769 | | | 10,437 | | | 332 | |
| Total operating expenses | | | 11,446 | | | | 12,423 | | | | (977 | ) | | | 15,984 | | | 17,144 | | | (1,160 | ) |
| Loss from operations | | | (11,446 | ) | | | (12,323 | ) | | | 877 | | | (15,984 | ) | | (16,555 | ) | | 571 | |
| Interest expense | | | (9 | ) | | | — | | | | (9 | ) | | (9 | ) | | — | | (9 | ) |
| Fair value change in warrant liabilities | | | — | | | | (33,829 | ) | | | 33,829 | | | — | | (33,829 | ) | | 33,829 | |
| Other (expense) income, net | | | (67 | ) | | | 2 | | | | (69 | ) | | | (60 | ) | | | 4 | | | (64 | ) |
| Loss before income taxes | | | (11,522 | ) | | | (46,150 | ) | | | 34,628 | | | (16,053 | ) | | (50,380 | ) | | 34,327 | |
| Provision for income taxes | | | — | | | | — | | | | — | | | | — | | | — | | | — | |
| Net loss | | $ | (11,522 | ) | | $ | (46,150 | ) | | $ | 34,628 | | | $ | (16,053 | ) | | $ | (50,380 | ) | | $ | 34,327 | |
Collaborations Revenue
Collaborations revenue was $0.1$0.6 million for the sixnine months ended JuneSeptember 30, 2021. Revenue during the period was derived from the license agreementagreements with Processa and BioSense related to certain technology transfers. There was no collaborations revenue recognized during sixnine months ended JuneSeptember 30, 2022.
General and Administrative Expenses
General and administrative expenses for the sixnine months ended JuneSeptember 30, 2022 were $3.5$5.2 million compared to $5.1$6.7 million for the sixnine months ended JuneSeptember 30, 2021. The $1.6$1.5 million decrease was largely attributable to the $1.6 million non-cash settlement with certain investors in the comparable prior year period. Administrative employee headcountperiod, offset by a slight increase in general and administrative expenses attributed to higher payroll and other operating cost increasescosts of approximately $0.2$0.1 million, were offset by decreases in legal and public company costson a net basis, in the current year period when compared to the comparable prior year period. General and administrative expenses included $0.6$0.9 million and $0.5$0.8 million in stock-based compensation expense during the sixnine months ended JuneSeptember 30, 2022 and 2021, respectively.
Research and Development Expenses
Research and development expenses for the sixnine months ended JuneSeptember 30, 2022 were $7.9$10.8 million compared to $7.3$10.4 million for the sixnine months ended JuneSeptember 30, 2021. The $0.6$0.3 million increase was primarily attributable to more ongoingthe timing of clinical trials and manufacturing activities for Nyxol and APX3330 as well as regulatory, preclinical and other development activities. Research and development expenses also included $0.3$0.5 million and $0.5$0.6 million in stock-based compensation expense during the sixnine months ended JuneSeptember 30, 2022 and 2021, respectively.
Fair Value Change in Warrant Liabilities
The fair value change in warrant liabilities was an expense of $33.8 million for the sixnine months ended JuneSeptember 30, 2021 relatedand was due to the issuance of the Series A Warrants in connection with the Pre-Merger Financing in November 2020 and to2020. The fair value of the Series A Warrants was impacted by the fluctuations in Ocuphire’s common stock fair value and by the number of potential shares of common stock issuable upon conversion of the underlying Ocuphire warrant liabilities that were outstanding during the relevant periods.liabilities. Upon the February 3, 2021 effective date of the Waiver Agreements, the Series A Warrants were reclassified to equity and are no longer subject to remeasurement.
There was a negligible change to the fair value of the warrant liability associated with the Rexahn warrants during the sixnine months ended JuneSeptember 30, 2022.
Other (Expense) Income, net
During the sixnine months ended JuneSeptember 30, 2022, Ocuphire had other expense, net of $67,000$60,000 stemming principally from net unrealized losses from our short-term investments of $93,000,$118,000 and realized currency losses of approximately $1,000, offset in part by interest income of $24,000$59,000 related to cash and cash equivalents on hand and realized currency gains of $2,000. Other income during the six months ended June 30, 2021 was largely attributed to interest income.equivalents.
22Other income, net during the nine months ended September 30, 2021 consisted primarily of unrealized gains from our short-term investments and to a lesser extent interest income from our cash and cash equivalent investments in the aggregate of $96,000, offset largely by payments due in connection with the CVR Agreement in the amount of $92,000.
Ocuphire Pharma, Inc.
Form 10-Q
Liquidity and Capital Resources
Capital Resources
As of JuneSeptember 30, 2022, Ocuphire’s principal sources of liquidity consisted of cash and cash equivalents of $17.0$13.9 million. Ocuphire believes that its cash on hand will be sufficient to fund its operations throughinto the thirdfourth quarter of 2023. The Company’s cash and cash equivalents are invested primarily in cash deposits at large, long-standing financial institutions.
Ocuphire has not generated any significant revenue to date and anticipates that it will continue to incur losses for the foreseeable future.future in the absence of successful product commercialization or execution of significant license agreements with third parties. Future capital requirements depend on many factors, including the need for the following:
continued clinical trials and preclinical studies for Nyxol, APX3330 and for any other product candidate in its future pipeline;
developing additional product candidates that it identifies, in-licenses or acquires;
seeking regulatory approvals for any product candidates that successfully complete clinical trials;
contracts to manufacture its product candidates;
Establishing, on its own or with partners, a sales, marketing and distribution infrastructure to commercialize any products for which it may obtain regulatory approval;
maintaining, expanding and protecting its intellectual property portfolio;
hiring additional staff, including clinical, scientific, operational and financial personnel, to execute its business plan;
adding operational, financial and management information systems and personnel, including personnel to support its product development and potential future commercialization efforts; and
operating as a public company.
Historical Capital Resources
Ocuphire’s primary source of cash to fund its operations has been various equity offerings in the amount of $52.7$54.1 million and the issuance of convertible notes in the amount of $8.5 million, inclusive of the promissory notes exchanged for Ocuphire convertible notes.
At-The-Market Program
On February 4, 2021, Ocuphire filed a Form S-3 shelf registration under the Securities Act which was declared effective by the SEC on February 12, 2021 (the “2021 Shelf”) under which the Company may offer and sell, from time to time in its sole discretion, securities having an aggregate offering price of up to $125 million. In connection with the 2021 Shelf, on March 11, 2021, Ocuphire entered into a sales agreement with JonesTrading Institutional Services LLC (“JonesTrading”) under which the Company may offer and sell, from time to time at its sole discretion, to or through JonesTrading, acting as agent and/or principal, shares of its common stock having an aggregate offering price of up to $40 million (the “2021 ATM”). A total of 3,993,3614,627,870 shares of common stock were sold under the 2021 ATM for gross proceeds through JuneSeptember 30, 2022 in the amount of $16.6$17.9 million before deducting issuance expenses in the amount of $0.5$0.6 million.
Registered Direct Offering
On June 4, 2021, the Company entered into a placement agency agreement with A.G.P./Alliance Global Partners (“AGP”). Pursuant to the terms of the placement agency agreement, AGP on June 8, 2021, sold an aggregate of 3,076,923 shares of the Company’s common stock and warrants to purchase 1,538,461 shares of the Company’s common stock (the “RDO Warrants”) at an offering price of $4.875 per share and 0.50 RDO Warrants, for gross proceeds of $15.0 million, before deducting AGP’s fees and related offering expenses in the amount of $1.1 million. The purchase agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, other obligations of the parties and termination provisions.
The RDO Warrants have an exercise price of $6.09 per share, are exercisable upon the initial issuance date of June 8, 2021, and will expire five years following the initial exercise date. Subject to limited exceptions, a holder of a RDO Warrant will not have the right to exercise any portion of its RDO Warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of a holder prior to the date of issuance, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to such exercise; provided, however, that upon prior notice to the Company, the holder may increase or decrease the beneficial ownership limitation, provided further that in no event shall the beneficial ownership limitation exceed 9.99%. As of JuneSeptember 30, 2022, 1,538,461 RDO Warrants were still outstanding.
Ocuphire Pharma, Inc.
Form 10-Q
The offering of the securities was made pursuant to the Company’s effective shelf registration statement on Form S-3.
Pre-Merger Financing
Securities Purchase Agreement
On June 17, 2020, Ocuphire, Rexahn and certain investors entered into a Securities Purchase Agreement, which was amended and restated in its entirety on June 29, 2020 (as amended and restated, the “Securities Purchase Agreement”). Pursuant to the Securities Purchase Agreement, the investors invested a total of $21.15 million in cash, including $300,000 invested by directors of Ocuphire Pharma, Inc. prior to the Merger, and one director of Rexahn, upon closing of the Merger (the “Pre-Merger Financing”). Pursuant to the Pre-Merger Financing, (i) Ocuphire issued and sold to the investors shares of common stock of Ocuphire Pharma,Inc. prior to the Merger (the “Initial Shares”) which converted pursuant to the exchange ratio in the Merger into an aggregate of 1,249,996 shares (the “Converted Initial Shares”) of common stock, (ii) Ocuphire deposited into escrow, for the benefit of the Investors, additional shares of common stock of Ocuphire Pharma, Inc. prior to the Merger (the “Additional Shares”) which converted pursuant to the exchange ratio in the Merger into an aggregate of 3,749,992 shares of common stock (the “Converted Additional Shares”), which Converted Additional Shares were delivered (or became deliverable) to the investors on November 19, 2020, and (iii) the Company agreed to issue to each investor on the tenth trading day following the consummation of the Merger (x) Series A Warrants representing the right to acquire shares of common stock equal to the sum of (A) the Converted Initial Shares purchased by the investor, (B) the Converted Additional Shares delivered or deliverable to the investor, without giving effect to any limitation on delivery contained in the Securities Purchase Agreement and (C) the initial number of shares of common stock, if any, underlying the Series B Warrants issued to the Investor and (y) additional warrants to purchase shares of common stock.
Waiver Agreements
Effective February 3, 2021, each investor that invested in the Pre-Merger Financing (each, a “Holder”) entered into a Waiver Agreement with the Company (collectively, the “Waiver Agreements”). Pursuant to the Waiver Agreements, the Holders and the Company agreed to waive certain rights, finalize the exercise price and number of Series A Warrants and Series B Warrants, eliminate certain financing restrictions, extend the term of certain leak-out agreements, and, in the case of certain Holders, grant certain registration rights for the shares underlying the warrants.
The Waiver Agreements provide for the permanent waiver of the full ratchet anti-dilution provisions, contained in the Series A Warrants (as certain of the anti-dilution provisions had previously caused liability accounting treatment for the Series A Warrants). Upon the effective date of the Waiver Agreement, the Series A Warrants were reclassified to equity.
Pursuant to the Waiver Agreements, the number of shares underlying all of the Series B Warrants was fixed to 1,708,335 in the aggregate with respect to all Holders.
Series A Warrants
The Series A Warrants were issued on November 19, 2020 at an initial exercise price of $4.4795 per share, were immediately exercisable upon issuance and have a term of five years from the date of issuance. The Series A Warrants are exercisable for 5,665,838 shares of common stock in the aggregate (without giving effect to any limitation on exercise contained therein). As of JuneSeptember 30, 2022, 5,665,838 Series A Warrants were still outstanding.
At issuance, the Series A Warrants contained certain provisions that could have resulted in a downward adjustment of the initial exercise price and an upward adjustment in the number of shares underlying the warrants if Ocuphire were to have issued or sold, or made an agreement to issue or sell, any shares of common stock for a price lower than the exercise price then in effect. Pursuant to the terms of the Waiver Agreements, these provisions are no longer in effect.
Series B Warrants
The Series B Warrants have an exercise price of $0.0001, were exercisable upon issuance and will expire on the day following the later to occur of (i) the Reservation Date (as defined therein), and (ii) the date on which the investor’s Series B Warrants have been exercised in full (without giving effect to any limitation on exercise contained therein) and no shares remain issuable thereunder. The Series B Warrants were initially exercisable for 665,836 shares of common stock in the aggregate (without giving effect to any limitation on exercise contained therein) and ultimately became exercisable for 1,708,335 shares of common stock upon execution of the Waiver Agreements. As of JuneSeptember 30, 2022, 78,70177,678 Series B Warrants were still outstanding.
At issuance, the Series B Warrants contained certain provisions that could have resulted in the issuance of additional Series B Warrants depending on the dollar volume-weighted average prices of a share of Common Stock during a 45-trading day Reset Period. Pursuant to the terms of the Waiver Agreements, those provisions are no longer in effect.
Ocuphire Convertible Notes
24
Ocuphire Pharma, Inc.
Form 10-Q
Ocuphire Convertible Notes
From May 2018 through March 2020, Ocuphire issued convertible notes (the “Ocuphire convertible notes”) for aggregate gross proceeds of $8.5 million, inclusive of the promissory notes exchanged for Ocuphire convertible notes. The final closing of the Ocuphire convertible notes occurred on March 10, 2020. The Ocuphire convertible notes had an interest rate of 8% per annum. On November 4, 2020, all of Ocuphire’s outstanding notes were converted into 977,128 shares of Ocuphire common stock in connection with the completion of the Merger.
Cash Flows
The following table summarizes Ocuphire’s cash flows for the periods indicated (in thousands):
| | | For the Six Months Ended | | | For the Nine Months Ended | |
| | | June 30, | | | September 30, | |
| | | 2022 | | 2021 | | | 2022 | | 2021 | |
| | | | | | | |
| Net cash used in operating activities | | $ | (9,979 | ) | | $ | (10,140 | ) | | $ | (14,477 | ) | | $ | (13,724 | ) |
| Net cash provided by (used in) investing activities | | — | | — | | | | — | | | | — | |
| Net cash provided by financing activities | | | 2,470 | | | 17,975 | | | | 3,798 | | | | 19,575 | |
| Net (decrease) increase in cash and cash equivalents | | $ | (7,509 | ) | | $ | 7,835 | | | $ | (10,679 | ) | | $ | 5,851 | |
Cash Flow from Operating Activities
For the sixnine months ended JuneSeptember 30, 2022, cash used in operating activities of $10.0$14.5 million was attributable to a net loss of $11.5$16.1 million, partially offset by $1.0$1.5 million in non-cash operating expenses, and attributable to a net changecash increase of approximately $0.5$0.1 million stemming from the change in Ocuphire’s net operating assets and liabilities. The non-cash expenses consisted principally of stock-based compensation of $0.9$1.4 million and unrealized loss on short-term investments of $0.1 million. The change in operating assets and liabilities was primarily attributable to a net cash usesource of $0.6$0.7 million attributed to an increasea decrease in prepaid expenses, offset largely by a decrease in accounts payable and accrued expense associated with the fluctuations of Ocuphire’s operating expenses.
For the sixnine months ended JuneSeptember 30, 2021, cash used in operating activities of $10.1$13.7 million was attributable to a net loss of $46.2$50.4 million, partially offset by $36.4$36.5 million in non-cash operating expenses and a net change of $(0.4)$0.2 million in Ocuphire’s net operating assets and liabilities. The non-cash expenses consisted principally of the fair value change in the warrant liabilities of $33.8 million, a share settlement with certain investors in the amount of $1.6 million, and stock-based compensation of $1.0$1.4 million and non-cash impact from the receipt of common stock stemming from the fulfillment of revenue milestones ($0.4) million. The change in operating assets and liabilities was primarily attributable to a decrease in Ocuphire’s accrued liabilities, on net basis,prepaid expenses offset in part by a net decrease in prepaid expenses and an increase in accounts receivable associated with the fluctuations of Ocuphire’s operating expenses andaccrued liabilities in connection with operating as a public company post-Merger.
Cash Flow from Investing Activities
There were no sources or uses from investing activities during the periods presented.
Cash Flow from Financing Activities
Net cash provided by financing activities during the sixnine months ended JuneSeptember 30, 2022 was $2.5$3.8 million that consisted principally of proceeds received from the 2021 ATM net of issuance costs in the amount of $3.0$4.3 million, offset in part by payments made on the short-term loan of $0.5 million.
Net cash provided by financing activities during the sixnine months ended JuneSeptember 30, 2021 was $18.0$19.6 million in connection with proceeds received from both the Registered Direct Offering and 2021 ATM, net of issuance costs.costs, and to a much lesser extent proceeds in connection with the exercise of stock options.
Liquidity and Capital Resource Requirements
Ocuphire has no current source of revenue to sustain its present activities, and Ocuphire does not expect to generate significant revenue until, and unless, the FDA or other regulatory authorities approve Nyxol or APX3330 and it successfully commercializes its product candidates.candidates or if Ocuphire enters into any significant license agreements with third parties. Until such time, if ever, as Ocuphire can generate substantial product revenue, it expects to finance its cash needs through a combination of equity and debt financings as well as collaborations, strategic alliances and licensing arrangements. Ocuphire does not have any committed external source of funds. To the extent that Ocuphire raises additional capital through the sale of equity or convertible debt securities, the ownership interest of Ocuphire’s stockholders will be diluted, and the terms of these securities may include liquidation, warrants, or other preferences that adversely affect your rights as a common stockholder. Debt financing, if available, may involve agreements that include covenants limiting or restricting Ocuphire’s ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If Ocuphire raises additional funds through collaborations, strategic alliances or licensing arrangements with pharmaceutical partners, Ocuphire may have to relinquish valuable rights to its technologies, future revenue streams or grant licenses on terms that may not be favorable to Ocuphire. If Ocuphire is unable to raise additional funds through equity or debt financings or through collaborations, strategic alliances or licensing arrangements when needed, Ocuphire may be required to delay, limit, reduce or terminate its product development, future commercialization efforts, or grant rights to develop and market its product candidates that Ocuphire would otherwise prefer to develop and market itself.
Ocuphire Pharma, Inc.
Form 10-Q
Future Capital Requirements
Ocuphire’s independent registered public accounting firm included an explanatory paragraph in its report on Ocuphire’s financial statements as of and for the years ended December 31, 2021 and 2020, noting the existence of substantial doubt about its ability to continue as a going concern. This uncertainty arose from management’s review of Ocuphire’s results of operations and financial condition and its conclusion that, based on Ocuphire’s operating plans, Ocuphire did not have sufficient existing working capital to sustain operations substantially beyond twelve months following the date of the report filing. To continue to fund operations, Ocuphire will need to raise capital. Ocuphire may obtain additional financing in the future through the issuance of common stock, through other equity or debt financings or through collaborations or partnerships with other companies. Ocuphire may not be able to raise additional capital on terms acceptable to it, or at all, and any failure to raise capital as and when needed could compromise Ocuphire’s ability to execute on its business plan.
The development of Nyxol and APX3330 is subject to numerous uncertainties, and Ocuphire has based these estimates on assumptions that may prove to be substantially different than what Ocuphire currently anticipates and could result in cash resources being used sooner than what Ocuphire currently expects. Additionally, the process of advancing early-stage product candidates and testing product candidates in clinical trials is costly, and the timing of progress in these clinical trials is uncertain. Ocuphire’s ability to successfully transition to profitability will be dependent upon achieving a level of product sales adequate to support its cost structure. Ocuphire cannot give any assurance that it will ever be profitable or generate positive cash flow from operating activities.
Contractual Obligations and Commitments
Facility Lease
Ocuphire leases a facility under a non-cancellable operating lease that commenced on June 8, 2019 and expires on December 31, 2022, as amended, for a base rent in the amount of $3,000 per month.
Apexian Sublicense Agreement
On January 21, 2020, Ocuphire entered into the Apexian Sublicense Agreement, pursuant to which it obtained exclusive worldwide patent and other intellectual property rights that constitute a Ref-1 Inhibitor program relating to therapeutic applications to treat disorders related to ophthalmic and diabetes mellitus conditions. The lead compound in the Ref-1 Inhibitor program is APX3330, which Ocuphire intends to develop as an oral tablet therapeutic to treat DR and DME, and potentially wAMD.
In connection with the Apexian Sublicense Agreement, Ocuphire issued 843,751 shares of Ocuphire common stock to Apexian and certain of Apexian’s affiliates.
Ocuphire agreed to make one-time milestone payments under the Apexian Sublicense Agreement for each of the first ophthalmic indication and the first diabetes mellitus indication. These milestone payments include (i) payments for specified developmental and regulatory milestones (including completion of the first Phase 2 trial and the first Phase 3 pivotal trial in the United States, and filing and achieving regulatory approval from the FDA for the first New Drug Application for a compound) totaling up to $11 million in the aggregate and (ii) payments for specified sales milestones of up to $20 million in the aggregate, each of which net sales milestone payments is payable once, upon the first achievement of such milestone.
Lastly, Ocuphire also agreed to make royalty payments equal to a single-digit percentage of its net sales of products covered by the patents under the Apexian Sublicense Agreement. None of the milestone or royalty payments were triggered as of the date of this Report.
Other Commitments
In the course of normal operations, Ocuphire entered into cancellable purchase commitments with its suppliers for various key research, clinical and manufacturing services. The purchase commitments covered by these arrangements are subject to change based on Ocuphire’s research and development efforts.
Other Funding Requirements
As noted above, certain of our cash requirements relate to the funding of our ongoing research and development of Nyxol and APX3330, inclusive of any potential milestone and royalty obligations under our intellectual property licenses. See “Part I, Item 1— Business—Nyxol and APX3330 Clinical Experience Summaries —Ocuphire Clinical Development Plan —Future Planned Nyxol Trials—Potential Clinical Plans for APX3330—Future In-Licensing and Acquisition Opportunities—Manufacturing—Apexian Sublicense Agreement— Review and Approval of Drugs in the United States” in our Annual Report on Form 10-K for the year ended December 31, 2021 for a discussion of design, development, pre-clinical and clinical activities that we may conduct in the future, including expected cash expenditures required for some of those activities, to the extent we are able to estimate such costs.
Our other cash requirements within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities. Our other cash requirements greater than twelve months from various contractual obligations and commitments may include operating leases and contractual agreements with third-party service providers for clinical research, product development, manufacturing, commercialization, supplies, payroll, equipment maintenance, and audits for periods into calendar year 2023. Refer to Note 4 – Commitments and Contingencies included in Part 1, Item 1 – Financial Statements” of this Report for further detail of our lease obligation and license agreements with regard to the timing of expected future payments.
Ocuphire Pharma, Inc.
Form 10-Q
We expect to satisfy our short-term and long-term obligations through cash on hand and from future equity and debt financings until we generate an adequate level of revenue from commercial sales to cover expenses, if ever.
Critical Accounting Policies and Estimates
Ocuphire’s financial statements are prepared in accordance with U.S. GAAP. These accounting principles require Ocuphire to make estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenue and expense during the periods presented. Ocuphire believes that the estimates and judgments upon which it relies are reasonably based upon information available to Ocuphire at the time that it makes these estimates and judgments. To the extent that there are material differences between these estimates and actual results, Ocuphire’s financial results will be affected. The accounting policies that reflect Ocuphire’s more significant estimates and judgments and which it believes are the most critical to aid in fully understanding and evaluating its reported financial results are described below.
Our significant accounting policies are discussed in Note 1 — Company Description and Summary of Significant Accounting Policies, included in “Part I, Item 1 – Financial Statements” of this Report. We believe that the following accounting policies and estimates are the most critical to aid in fully understanding and evaluating our reported financial results. These estimates require our most difficult, subjective, or complex judgments because they relate to matters that are inherently uncertain. We have reviewed these critical accounting policies and estimates and related disclosures with the Audit Committee of our Board of Directors. We have not made any material changes to date, nor do we believe there is a reasonable likelihood of a material future change to the accounting methodologies for the areas described below.
For discussion about the determination of collaborations revenue, see Note 10 — Collaborations and License Agreements included in “Part 1, Item 1 – Financial Statements” of this Report. To date, we have not had, nor expect to have in the future, significant variable consideration adjustments related to product revenue, such as chargebacks, sales allowances and sales returns.
Following the Merger, Ocuphire issued the Series A Warrants in connection with the Pre-Merger Financing and assumed Rexahn warrants issued prior to the Merger. Ocuphire accounts for these warrants as a liability at fair value as long as certain provisions precluding equity accounting treatment are present. Upon the execution of the Waiver Agreements described in Note 3 — Pre-Merger Financing included in “Part 1, Item 1 – Financial Statements” of this Report, the Series A Warrants were no longer subject to cash settlement or indexation provisions, precluding equity classification, and as a result, not subject to fair value remeasurement. Ocuphire will continue to adjust the Rexahn warrant liability for changes in fair value until the earlier of the exercise, expiration, or until such time that cash settlement or indexation provisions are no longer in effect for the Rexahn warrants. We do not expect that the fluctuations in fair value attributed to the Rexahn warrant liability will be significant.
Stock-based Compensation
Ocuphire accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation — Stock Compensation. Accordingly, compensation costs related to equity instruments granted are recognized at the grant date fair value which is not subject to remeasurement. We record equity instrument forfeitures when they occur. For discussions about the application of grant date fair value associated with our stock-based compensation, see Note 8 — Stock-based Compensation included in “Part 1, Item 1 – Financial Statements” of this Report.
Income Tax Assets and Liabilities
Currently, there is no provision for income taxes, as we have incurred operating losses to date, and a full valuation allowance has been provided on our net deferred tax assets. For additional information, see Note 1112 — Income Taxes included in “Part 1, Item 1 – Financial Statements” of this Report.
We are subject to numerous contingencies arising in the ordinary course of business, including obligations related to certain license agreements. For additional information, see Note 4 — Commitments and Contingencies included in “Part 1, Item 1 – Financial Statements” of this Report.
Recent Accounting Pronouncements
Refer to Note 1 — “Company Description and Summary of Significant Accounting Policies” to our condensed consolidated financial statements included in “Part 1, Item 1 – Financial Statements” in this Report for a discussion of recently issued accounting pronouncements.
Ocuphire Pharma, Inc.
Form 10-Q
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
Not applicable for smaller reporting companies.
| Item 4. | Controls and Procedures |
Evaluation of Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information we are required to disclose in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.
We designed and evaluated our disclosure controls and procedures recognizing that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance and not absolute assurance of achieving the desired control objectives. Also, the design of a control system must reflect the fact that there are resource constraints and that the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake. The design of any system of controls is based, in part, upon certain assumptions about the likelihood of future events and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.
Under the supervision of and with the participation of our management, including our principal executive officer and principal financial officer, we evaluated the effectiveness of our disclosure controls and procedures, as such term is defined in Rules 13a-15(e) and 15(d)- 15(e) promulgated under the Exchange Act as of JuneSeptember 30, 2022. Based on this evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective as of JuneSeptember 30, 2022.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) during the quarter ended JuneSeptember 30, 2022, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
PART II – OTHER INFORMATION
From time to time, we may be involved in various claims and legal proceedings relating to claims arising out of our operations. We are not currently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
There have been no material changes inOur business is subject to risks and events that, if they occur, could adversely affect our financial condition and results of operations and the trading price of our securities. During the three months ended September 30, 2022, our risk factors have not changed materially from those risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021. You should carefully consider the risks and uncertainties discussed in Part I, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. You should carefully consider the risks and uncertainties described therein.
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
None.
| Item 3. | Defaults Upon Senior Securities |
None.
Item 4.
| Mine Safety Disclosures |
Not applicable to our Company.
None.
Ocuphire Pharma, Inc.
Form 10-Q
| NUMBER | | DESCRIPTION OF DOCUMENT |
| | | Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Appendix G to the Registrant’s Definitive Proxy Statement on Schedule 14A, filed on April 29, 2005). |
| | | Certificate of Amendment of Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on May 5, 2017). |
| | | Certificate of Amendment of Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on August 30, 2018). |
| | | Certificate of Amendment of Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on April 12, 2019). |
| | | Certificate of Amendment of Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on November 6, 2020). |
| | | Certificate of Amendment of Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K, filed on November 6, 2020). |
| | | Second Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.3 to the Registrant’s Current Report on Form 8-K, filed on November 6, 2020). |
| | | First Amendment to Second Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on June 10, 2022). |
| | | Second Amendment to Second Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on June 17, 2022). |
| | Non-Employee Director Compensation Policy | Fourth Lease Amendment, dated as of October 17, 2022. |
| | | Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| | | Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| | | Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| 101.INS | | Inline XBRL Instance Document. |
| 101.SCH | | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL | | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF | | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB | | Inline XBRL Taxonomy Extension Label Linkbase Document. |
| 101.PRE | | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
|
| | |
| * | | Documents are furnished not filed |
Ocuphire Pharma, Inc.
Form 10-Q
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
Ocuphire Pharma, Inc.
| Dated: November 4, 2022 |
|
| Ocuphire Pharma, Inc. |
|
By: | /s/ Mina Sooch | |
| | Mina Sooch | |
| | Chief Executive Officer | |
| | (Principal Executive Officer) | |
| | |
By: | /s/ Amy Rabourn | |
| | Amy Rabourn | |
| | Vice President of Finance | |
| | (Principal Financial Officer) | |
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