$IRD

2020 Q3 Form 10-Q Financial Statement

#000114036120024042 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.360M $2.120M $1.550M
YoY Change 18.26% 58.21% -30.8%
% of Gross Profit
Research & Development $149.6K $231.6K $450.0K
YoY Change -86.78% -85.95% -83.52%
% of Gross Profit
Depreciation & Amortization $1.000K $10.00K $10.00K
YoY Change -90.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $1.506M $2.348M $2.010M
YoY Change -33.97% -21.41% -59.53%
Operating Profit -$1.506M -$2.348M
YoY Change -33.97% -21.41%
Interest Expense $100.0K -$160.0K $140.0K
YoY Change -68.75% -130.77% -92.43%
% of Operating Profit
Other Income/Expense, Net $102.4K -$162.7K
YoY Change -68.14% -131.03%
Pretax Income -$1.403M -$2.511M -$1.870M
YoY Change -28.36% 1.9% -40.06%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.248M -$2.511M -$1.870M
YoY Change -36.3% 1.9% -40.0%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.321M -$2.510M -$1.870M
COMMON SHARES
Basic Shares Outstanding 4.234M 4.019M 4.019M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.080M $9.210M $12.22M
YoY Change -41.91% -43.36% -17.04%
Cash & Equivalents $8.080M $9.209M $1.537M
Short-Term Investments $0.00 $0.00 $3.000M
Other Short-Term Assets $570.0K $820.0K $5.000K
YoY Change -6.0% 23.85% -99.1%
Inventory
Prepaid Expenses $19.00K
Receivables
Other Receivables
Total Short-Term Assets $8.653M $10.03M $1.762M
YoY Change -40.88% -42.02% -88.92%
LONG-TERM ASSETS
Property, Plant & Equipment $150.0K $57.31K $22.00K
YoY Change 75.85% -39.47% -80.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.00K $30.00K $30.00K
YoY Change 0.0% 0.0% 0.0%
Other Assets
YoY Change
Total Long-Term Assets $180.6K $222.5K $22.00K
YoY Change -47.65% -42.07% -84.64%
TOTAL ASSETS
Total Short-Term Assets $8.653M $10.03M $1.762M
Total Long-Term Assets $180.6K $222.5K $22.00K
Total Assets $8.834M $10.25M $1.784M
YoY Change -41.03% -42.02% -88.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.840M $1.650M $342.0K
YoY Change 411.11% 73.68% -37.82%
Accrued Expenses $510.0K $680.0K $621.0K
YoY Change -55.26% -38.74% -76.21%
Deferred Revenue $650.0K $650.0K $1.500M
YoY Change -56.67% -56.67%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.009M $2.977M $9.344M
YoY Change 0.25% -16.17% 196.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $110.0K $270.0K $110.0K
YoY Change -50.0% -46.0% -95.28%
Total Long-Term Liabilities $110.0K $270.0K $110.0K
YoY Change -50.0% -46.0% -95.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.009M $2.977M $9.344M
Total Long-Term Liabilities $110.0K $270.0K $110.0K
Total Liabilities $3.120M $3.246M $9.344M
YoY Change -3.42% -19.94% 70.51%
SHAREHOLDERS EQUITY
Retained Earnings -$167.8M -$166.4M -$8.055M
YoY Change 3.95% 4.34% -94.79%
Common Stock $173.5M $173.4M $173.3M
YoY Change 0.18% 4.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.410M $7.003M -$7.560M
YoY Change
Total Liabilities & Shareholders Equity $8.834M $10.25M $1.784M
YoY Change -41.03% -42.02% -88.88%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q4
OPERATING ACTIVITIES
Net Income -$1.248M -$2.511M -$1.870M
YoY Change -36.3% 1.9% -40.0%
Depreciation, Depletion And Amortization $1.000K $10.00K $10.00K
YoY Change -90.0% 0.0% 0.0%
Cash From Operating Activities -$1.130M -$1.790M -$1.720M
YoY Change -52.32% -1.1% -62.77%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $3.000M
YoY Change -100.0% -100.0% 50.0%
Cash From Investing Activities $0.00 $0.00 $3.000M
YoY Change -100.0% -100.0% 50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.130M -1.790M -1.720M
Cash From Investing Activities 0.000 0.000 3.000M
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -1.130M -1.790M 1.280M
YoY Change -279.37% -250.42% -69.16%
FREE CASH FLOW
Cash From Operating Activities -$1.130M -$1.790M -$1.720M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.130M -$1.790M -$1.720M
YoY Change -52.32% -0.56% -62.77%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Transition Report
DocumentTransitionReport
false
dei Document Type
DocumentType
10-Q
dei Entity Address Address Line1
EntityAddressAddressLine1
15245 Shady Grove Road
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 455
dei Entity Address City Or Town
EntityAddressCityOrTown
Rockville
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
20850
dei Entity Address State Or Province
EntityAddressStateOrProvince
MD
dei Amendment Flag
AmendmentFlag
false
dei City Area Code
CityAreaCode
240
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Period End Date
DocumentPeriodEndDate
2020-09-30
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Entity Central Index Key
EntityCentralIndexKey
0001228627
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity File Number
EntityFileNumber
001-34079
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Registrant Name
EntityRegistrantName
REXAHN PHARMACEUTICALS, INC.
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
11-3516358
dei Local Phone Number
LocalPhoneNumber
268-5300
dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2020Q2 rexn Average Of Five Lowest Volume Weighted Average Trading Prices
AverageOfFiveLowestVolumeWeightedAverageTradingPrices
0.85
CY2020Q2 rexn Cash At Closing
CashAtClosing
1900000
CY2020Q2 rexn Cash Requirement
CashRequirement
0
CY2020Q2 rexn Contingent Value Rights Ip Percentage
ContingentValueRightsIpPercentage
0.75
rexn Contingent Value Rights License Term
ContingentValueRightsLicenseTerm
P15Y
CY2019Q4 rexn Deferred Tax Assets Book Tax Differences On Assets And Liabilities
DeferredTaxAssetsBookTaxDifferencesOnAssetsAndLiabilities
464000
CY2020Q3 rexn Deferred Tax Assets Book Tax Differences On Assets And Liabilities
DeferredTaxAssetsBookTaxDifferencesOnAssetsAndLiabilities
238000
rexn Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
rexn Defined Contribution Plan Employer Matching Contribution
DefinedContributionPlanEmployerMatchingContribution
1
rexn Defined Contribution Plan Maximum Annual Contribution Per Employee Additional Percent On Deferral
DefinedContributionPlanMaximumAnnualContributionPerEmployeeAdditionalPercentOnDeferral
0.5
CY2020Q2 rexn Exchange Ratio Formula
ExchangeRatioFormula
100000
rexn Investment Warrants Exchanged Number
InvestmentWarrantsExchangedNumber
995757
rexn Investment Warrants Exchanged Weighted Average Exercise Price
InvestmentWarrantsExchangedWeightedAverageExercisePrice
22.64
CY2020Q3 rexn Investment Warrants Fair Value
InvestmentWarrantsFairValue
110781
CY2019 rexn Investment Warrants Fair Value Assumptions Estimated Additional Shares Issued Upon Dilutive Event
InvestmentWarrantsFairValueAssumptionsEstimatedAdditionalSharesIssuedUponDilutiveEvent
0.50
rexn Investment Warrants Fair Value Assumptions Estimated Additional Shares Issued Upon Dilutive Event
InvestmentWarrantsFairValueAssumptionsEstimatedAdditionalSharesIssuedUponDilutiveEvent
0.90
CY2019 rexn Investment Warrants Fair Value Assumptions Estimated Dividend
InvestmentWarrantsFairValueAssumptionsEstimatedDividend
rexn Investment Warrants Fair Value Assumptions Estimated Dividend
InvestmentWarrantsFairValueAssumptionsEstimatedDividend
CY2019 rexn Investment Warrants Fair Value Assumptions Estimated Future Volatility Rate
InvestmentWarrantsFairValueAssumptionsEstimatedFutureVolatilityRate
1.02
rexn Investment Warrants Fair Value Assumptions Estimated Future Volatility Rate
InvestmentWarrantsFairValueAssumptionsEstimatedFutureVolatilityRate
1.34
CY2019 rexn Investment Warrants Fair Value Assumptions Trading Market Prices
InvestmentWarrantsFairValueAssumptionsTradingMarketPrices
1.91
rexn Investment Warrants Fair Value Assumptions Trading Market Prices
InvestmentWarrantsFairValueAssumptionsTradingMarketPrices
2.08
rexn Investment Warrants Weighted Average Remaining Contractual Term
InvestmentWarrantsWeightedAverageRemainingContractualTerm
P3Y
CY2018Q1 rexn Licensing Revenue Agreement Percent
LicensingRevenueAgreementPercent
0.5
CY2020Q2 rexn Pre Merger Financing
PreMergerFinancing
21150000
CY2020Q2 rexn Pre Merger Financing Ownership Of Combined Company
PreMergerFinancingOwnershipOfCombinedCompany
0.15
CY2020Q2 rexn Pre Merger Valuation
PreMergerValuation
120000000
CY2009Q2 rexn Research And Developement Agreement One Time Milestone Payment
ResearchAndDevelopementAgreementOneTimeMilestonePayment
1000000
CY2020Q3 rexn Research And Development Estimated Cost To Complete Contracts With Vendors
ResearchAndDevelopmentEstimatedCostToCompleteContractsWithVendors
160000
rexn Stock Warrants Exercised Value
StockWarrantsExercisedValue
57393
CY2020Q3 rexn Stock Warrants Exercised Value
StockWarrantsExercisedValue
57393
CY2020Q2 rexn Termination Fee
TerminationFee
750000
CY2019 rexn Warrant Fundamental Transaction Timing Date
WarrantFundamentalTransactionTimingDate
2020-04
rexn Warrant Fundamental Transaction Timing Date
WarrantFundamentalTransactionTimingDate
2020-11
CY2019Q4 rexn Warrant Liabilities
WarrantLiabilities
41717
CY2020Q3 rexn Warrant Liabilities
WarrantLiabilities
110781
CY2019Q4 rexn Warrants Exercise Price
WarrantsExercisePrice
22.10
CY2020Q3 rexn Warrants Exercise Price
WarrantsExercisePrice
21.52
rexn Warrants Issued
WarrantsIssued
4735913
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1265731
CY2020Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2258481
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
1265731
CY2020Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2258481
CY2020Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
126198
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.03
CY2020Q3 us-gaap Accounts Payable Trade Current And Noncurrent
AccountsPayableTradeCurrentAndNoncurrent
1844983
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
86770
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
4864
CY2020Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
287300
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
2084
CY2019Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
173278144
CY2020Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
173537703
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
379348
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
90695
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
56841
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
90695
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
56841
CY2019Q4 us-gaap Assets
Assets
12968772
CY2020Q3 us-gaap Assets
Assets
8833710
CY2019Q4 us-gaap Assets Current
AssetsCurrent
12663973
CY2020Q3 us-gaap Assets Current
AssetsCurrent
8653146
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2997220
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
2997220
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2084
CY2019Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
2995136
CY2019Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
2997220
us-gaap Depreciation And Amortization
DepreciationAndAmortization
31460
us-gaap Depreciation And Amortization
DepreciationAndAmortization
27013
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.72
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2019Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
84576
CY2020Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
8100000
CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1921489
CY2020Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
925732
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4019141
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4483198
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4019141
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4483198
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
402
CY2020Q3 us-gaap Common Stock Value
CommonStockValue
448
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1403496
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1500000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
650000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
CY2020Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
43844000
CY2020Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
45321000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1191000
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
556000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
45499000
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
46115000
CY2019Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
16355
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
28854
CY2020Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
7840
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.10
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.33
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2183714
CY2019Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-242860
CY2020Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-100637
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-9594
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4184744
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1149206
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4729211
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1356313
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-6766510
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1959230
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-4501424
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1403496
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-850000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-5215
us-gaap Investment Income Interest
InvestmentIncomeInterest
256569
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
78534
us-gaap Investment Income Interest
InvestmentIncomeInterest
42235
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1774
us-gaap Lease Cost
LeaseCost
189705
CY2019Q3 us-gaap Lease Cost
LeaseCost
39626
us-gaap Lease Cost
LeaseCost
125638
CY2020Q3 us-gaap Lease Cost
LeaseCost
40294
CY2020Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.11
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
104583
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
65364
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
39219
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4186
CY2019Q4 us-gaap Liabilities
Liabilities
3010818
CY2020Q3 us-gaap Liabilities
Liabilities
3119659
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
12968772
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8833710
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2905496
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
3008878
CY2019Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
41717
us-gaap Nature Of Operations
NatureOfOperations
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt 0pt 0pt 21.6pt;text-indent:-21.6pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-weight:bold;font-family:Times New Roman;font-size: 11pt"> <a name="_Hlk512345999"></a><font style="display: inline;">1.</font><font style="display: inline;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">Operations and Organization</font> </p> <p style="margin:10.8pt 0pt 0pt 23.75pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;">Operations</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">Rexahn Pharmaceuticals, Inc. (the &#x201C;Company&#x201D;), a Delaware corporation, is a biopharmaceutical company whose principal operations have been the development of innovative therapies to improve patient outcomes in cancers that are difficult to treat.&nbsp;&nbsp;The Company had an accumulated deficit of </font><font style="display: inline;">$167,824,100</font><font style="display: inline;"> at September</font><font style="display: inline;"> 30, 2020 and anticipates incurring losses for the foreseeable future.&nbsp; </font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">On June 17, 2020, the Company entered into an Agreement and Plan of Merger and Reorganization (the &#x201C;Original Merger Agreement,&#x201D; and as amended on June 29, 2020, the &#x201C;Merger Agreement&#x201D;) with Razor Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (&#x201C;Merger Sub&#x201D;), and Ocuphire Pharma Inc., a Delaware corporation (&#x201C;Ocuphire&#x201D;), pursuant to which, among other things, and subject to the satisfaction and waiver of certain conditions set forth in the Merger Agreement, Merger Sub will merge with and into Ocuphire, with Ocuphire continuing as a wholly owned subsidiary of the Company and the surviving corporation of the merger (the &#x201C;Merger&#x201D;).&nbsp;&nbsp;See Note 2, </font><font style="display: inline;font-style:italic;">Merger Agreement and Pre-Merger Financing, </font><font style="display: inline;">for further information.</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">The Company believes that its cash and cash equivalents of approximately </font><font style="display: inline;">$8.1</font><font style="display: inline;"> million as of September 30, 2020 will be sufficient to cover its cash flow requirements for its current activities for at least the next 12 months from the date these financial statements were issued, assuming the Merger does not close</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp; &nbsp;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;">Basis of Presentation</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">The accompanying unaudited condensed financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (&#x201C;SEC&#x201D;) for interim financial information.&nbsp;&nbsp;Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (&#x201C;U.S. GAAP&#x201D;) for complete financial statements.&nbsp;&nbsp;In the opinion of the Company&#x2019;s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the Company&#x2019;s financial position as of September 30, 2020 and December 31, 2019 and of the results of operations, comprehensive loss, and stockholders&#x2019; equity for the three and nine months ended September 30, 2020 and 2019 and the cash flows for the nine months ended September 30, 2020 and 2019 have been included.&nbsp;&nbsp;Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of results that may be expected for any other interim period or the full fiscal year ending December 31, 2020. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2019 (the &#x201C;2019 Form 10-K&#x201D;).&nbsp;&nbsp;Information included in the condensed balance sheet as of December 31, 2019 has been derived from the Company&#x2019;s audited financial statements for the year ended December 31, 2019 included in the 2019 Form 10-K.&nbsp;&nbsp;The unaudited condensed financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;">&#xFEFF;</font> </p> <p style="margin:0pt;text-indent:23.75pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <a name="_Hlk512346000"></a><font style="display: inline;font-style:italic;">Use of Estimates</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;These estimates are based on management&#x2019;s best knowledge of current events and actions the Company may undertake in the future.&nbsp;&nbsp;Actual results may ultimately differ from these estimates.&nbsp;&nbsp;These estimates are reviewed periodically, and as adjustments become necessary, they are reported in earnings in the period in which they become available.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;color:#000000;">COVID-19 Pandemic</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;color:#000000;">The outbreak of the COVID-19 disease, which the World Health Organization declared a pandemic in March 2020, has led to disruption in the global economy and the biopharmaceutical industry. The extent of the COVID-19 pandemic&#x2019;s impact on the Company&#x2019;s business, financial condition and results of operations, as well as the Company&#x2019;s ability to consummate the Merger, is highly uncertain and will depend on various factors, including the duration and scope of the pandemic, restrictions on business and social distancing guidelines that may be requested or mandated by governmental authorities, other actions taken to contain the impact of the pandemic, and the Company&#x2019;s access to additional capital.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:10.8pt 0pt 0pt 23.75pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 1pt"> <font style="display: inline;font-weight:bold;font-size:1pt;background-color:yellow;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8564580
us-gaap Net Income Loss
NetIncomeLoss
-6766510
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-1959230
us-gaap Net Income Loss
NetIncomeLoss
-4501424
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2440283
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
321394
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-84222
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
102411
us-gaap Operating Expenses
OperatingExpenses
9206793
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
2280624
us-gaap Operating Expenses
OperatingExpenses
5567202
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
1505907
us-gaap Operating Income Loss
OperatingIncomeLoss
-9206793
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2280624
us-gaap Operating Income Loss
OperatingIncomeLoss
-4417202
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1505907
us-gaap Operating Lease Cost
OperatingLeaseCost
164178
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
36770
us-gaap Operating Lease Cost
OperatingLeaseCost
110311
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
36770
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
100397
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
139765
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
100397
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
63605
us-gaap Operating Lease Payments
OperatingLeasePayments
158962
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
203348
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
106126
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9M18D
CY2019Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
156586000
CY2019Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
221170
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
25684
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
669
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2084
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
669
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
0
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
447206
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
573635
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5022049
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1131418
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
837991
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
149594
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-163322676
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-167824100
us-gaap Revenues
Revenues
CY2019Q3 us-gaap Revenues
Revenues
us-gaap Revenues
Revenues
1150000
CY2020Q3 us-gaap Revenues
Revenues
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
380935
CY2019Q4 us-gaap Security Deposit
SecurityDeposit
25681
CY2020Q3 us-gaap Security Deposit
SecurityDeposit
25681
us-gaap Share Based Compensation
ShareBasedCompensation
379348
us-gaap Share Based Compensation
ShareBasedCompensation
202212
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
10562890
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
13623106
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
11755240
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
7003313
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
5714051
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7553828
us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-indent:23.75pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;">Use of Estimates</font> </p> <p style="margin:0pt 0pt 0pt 23.75pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;These estimates are based on management&#x2019;s best knowledge of current events and actions the Company may undertake in the future.&nbsp;&nbsp;Actual results may ultimately differ from these estimates.&nbsp;&nbsp;These estimates are reviewed periodically, and as adjustments become necessary, they are reported in earnings in the period in which they become available.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Variable Lease Cost
VariableLeaseCost
25527
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2856
us-gaap Variable Lease Cost
VariableLeaseCost
15327
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
3524
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3940288
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4019141
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4093214
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4239751

Files In Submission

Name View Source Status
0001140361-20-024042-index-headers.html Edgar Link pending
0001140361-20-024042-index.html Edgar Link pending
0001140361-20-024042.txt Edgar Link pending
0001140361-20-024042-xbrl.zip Edgar Link pending
brhc10016325_10q.htm Edgar Link pending
brhc10016325_ex31-1.htm Edgar Link pending
brhc10016325_ex32-1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rexn-20200930.xml Edgar Link completed
rexn-20200930.xsd Edgar Link pending
rexn-20200930_cal.xml Edgar Link unprocessable
rexn-20200930_def.xml Edgar Link unprocessable
rexn-20200930_lab.xml Edgar Link unprocessable
rexn-20200930_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending