Dare Bioscience, Inc.

Dare Bioscience, Inc. is a women’s health biopharmaceutical company developing and commercializing proprietary products across contraception, sexual health, pelvic pain, fertility, infectious disease, vaginal health, and menopause. The company is shifting from a pure development model toward a capital-efficient commercialization model that combines late-stage R&D with near-term revenue opportunities through Section 503B compounded products and consumer health offerings.

−1 156,9 %

71,3 %

−1 300,7 %

+10 429,4 %

1.14

1.14

— Dare Bioscience, Inc.
%
Commercialized and near-term commercial products20% Includes XACIATO and planned Section 503B/consumer health offerings such as DARE to PLAY Sildenafil Cream and DARE to RESTORE.
Late-stage women’s health product candidates35% Includes Ovaprene and DARE-HRT1, which are being advanced toward clinical and commercial milestones.
Early-stage clinical and preclinical programs25% Includes DARE-VVA1, DARE-HPV and other pipeline assets still in development.
Grant-funded development programs20% Programs supported by non-dilutive grants, including work tied to DARE-LARC1, Ovaprene and DARE-HPV.

Dare’s direct customers are healthcare providers, outsourcing facilities, telehealth partners, and third-party...

  • Women’s health providersprimary

    Prescribe or recommend products such as Sildenafil Cream, XACIATO and future pipeline therapies because they address unmet women’s health needs.

  • Telehealth and consumer health partnersprimary

    Help market and distribute non-prescription products like DARE to RESTORE and support direct-to-consumer awareness.

  • 503B outsourcing facilitiesprimary

    Manufacture and dispense compounded products under the company’s Section 503B strategy.

  • Women patients and consumersprimary

    Buy or use the products for contraception, sexual health, vaginal health, menopause and related conditions.

  • Strategic collaborators and grant funderssecondary

    Provide non-dilutive funding, development support, or commercialization access for specific programs.

The company is headquartered in the United States and its near-term commercial plans are centered on the U.S. market...

  • •United States is the main market for prescription and consumer launches
  • •U.S. FDA regulatory pathway drives development and commercialization timing
  • •European sourcing supports vaginal probiotic consumer health products
  • •No disclosed country revenue breakdown in the provided excerpts
  • •Geographic exposure is concentrated in U.S. clinical and commercial execution

Dare is pursuing a capital-efficient transition from a development-stage biotech into a company with near-term...

01
Launch near-term commercial productsshort-term

Creates initial revenue and market presence without building a full sales infrastructure.

02
Pursue capital-efficient commercializationshort-term

The company lacks internal sales and distribution capabilities, so partnerships reduce fixed costs and execution risk.

03
Advance late-stage women’s health pipelinemedium-term

Clinical progress supports future FDA-approved products and longer-term value creation.

04
Reduce dependence on dilutive capitalmedium-term

Management wants commercial and grant funding to help fund operations and reduce financing pressure.

The company remains highly dependent on external capital, clinical success and execution of a still-developing...

critical

Insufficient capital to fund operations and development

The company states it may need to delay, scale back, or cease programs if it cannot raise funds on acceptable terms.

Scope
R&D, commercialization and corporate operations
Materiality
high
high

Nasdaq listing compliance

Failure to meet continued listing standards could impair liquidity and access to capital.

Scope
Equity financing and market confidence
Materiality
high
high

Clinical development and regulatory approval risk

Pipeline value depends on successful IND filings, clinical studies and FDA outcomes.

Scope
Ovaprene, DARE-HRT1, DARE-VVA1, DARE-HPV
Materiality
high
high

Commercial launch and adoption risk

Near-term products may not generate meaningful revenue if provider adoption or consumer demand is weak.

Scope
DARE to PLAY Sildenafil Cream, DARE to RESTORE™, DARE-HRT1
Materiality
high
medium

Dependence on third parties

The company relies on outsourcing facilities, collaborators and marketing partners rather than owned infrastructure.

Scope
Manufacturing, distribution and commercialization
Materiality
medium
Grant accounting and deferred grant funding
Affects cash, liabilities and the timing of R&D expense recognition
Going-concern assessment
Can affect disclosure, valuation assumptions and investor risk perception
Milestone and in-license obligations
Can create lumpy operating expenses or accrued liabilities
Stock-based compensation
Impacts reported operating loss and non-cash expense trends

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: 28/04/2026