Daré Bioscience Reports Full Year 2024 Financial Results and Provides Company Update
Daré Bioscience (NASDAQ: DARE) reported its full year 2024 financial results and announced plans to make its proprietary Sildenafil Cream available via prescription through 503B compounding in Q4 2025, expecting to generate revenue and cash flow. The company ended 2024 with $15.7 million in cash and a working capital deficit of $3.2 million.
Financial highlights show reduced expenses, with G&A costs down 24% to $9.2 million and R&D expenses decreased 34% to $14.2 million compared to the previous year. Key pipeline developments include the ongoing Ovaprene® Phase 3 contraceptive study, with approximately 125 women expected to complete six months of use by Q2 2025, supported by a $10.7 million non-dilutive grant.
The company is pursuing a dual-path approach for select proprietary formulations, including both FDA approval and 503B framework distribution. Daré plans to invest less than $1 million to support the Sildenafil Cream 503B initiative and expects to provide strategic partnership updates in Q2 2025.
Daré Bioscience (NASDAQ: DARE) ha riportato i risultati finanziari per l'intero anno 2024 e ha annunciato piani per rendere disponibile la sua crema proprietaria Sildenafil Cream su prescrizione attraverso la compounding 503B nel quarto trimestre del 2025, prevedendo di generare entrate e flusso di cassa. L'azienda ha chiuso il 2024 con 15,7 milioni di dollari in contante e un deficit di capitale circolante di 3,2 milioni di dollari.
I punti salienti finanziari mostrano una riduzione delle spese, con i costi generali e amministrativi diminuiti del 24% a 9,2 milioni di dollari e le spese per ricerca e sviluppo diminuite del 34% a 14,2 milioni di dollari rispetto all'anno precedente. I principali sviluppi della pipeline includono lo studio contraccettivo Ovaprene® in fase 3, con circa 125 donne che si prevede completeranno sei mesi di utilizzo entro il secondo trimestre del 2025, supportato da una sovvenzione non diluitiva di 10,7 milioni di dollari.
L'azienda sta perseguendo un approccio a doppio percorso per alcune formulazioni proprietarie selezionate, inclusa sia l'approvazione della FDA che la distribuzione nel framework 503B. Daré prevede di investire meno di 1 milione di dollari per supportare l'iniziativa Sildenafil Cream 503B e si aspetta di fornire aggiornamenti sulle partnership strategiche nel secondo trimestre del 2025.
Daré Bioscience (NASDAQ: DARE) informó sobre sus resultados financieros del año completo 2024 y anunció planes para hacer que su crema propietaria Sildenafil Cream esté disponible con receta a través de la compounding 503B en el cuarto trimestre de 2025, esperando generar ingresos y flujo de caja. La empresa terminó 2024 con 15,7 millones de dólares en efectivo y un déficit de capital de trabajo de 3,2 millones de dólares.
Los aspectos financieros destacados muestran una reducción de gastos, con costos generales y administrativos disminuidos en un 24% a 9,2 millones de dólares y gastos de I+D reducidos en un 34% a 14,2 millones de dólares en comparación con el año anterior. Los desarrollos clave en la pipeline incluyen el estudio contraceptivo Ovaprene® en fase 3, con aproximadamente 125 mujeres que se espera completen seis meses de uso para el segundo trimestre de 2025, respaldado por una subvención no dilutiva de 10,7 millones de dólares.
La empresa está siguiendo un enfoque de doble vía para algunas formulaciones propietarias seleccionadas, incluyendo tanto la aprobación de la FDA como la distribución en el marco 503B. Daré planea invertir menos de 1 millón de dólares para apoyar la iniciativa Sildenafil Cream 503B y espera proporcionar actualizaciones sobre asociaciones estratégicas en el segundo trimestre de 2025.
다레 바이오사이언스 (NASDAQ: DARE)는 2024년 전체 연도 재무 결과를 발표하고, 2025년 4분기부터 503B 조제를 통해 처방전으로 자사의 독점 실데나필 크림을 제공할 계획을 발표했습니다. 이를 통해 수익과 현금 흐름을 창출할 것으로 기대하고 있습니다. 회사는 2024년을 1570만 달러의 현금과 320만 달러의 운영 자본 적자로 마감했습니다.
재무 하이라이트는 비용 절감을 보여주며, 일반 관리 비용이 24% 감소하여 920만 달러, 연구 개발 비용이 34% 감소하여 1420만 달러에 달했습니다. 주요 파이프라인 개발에는 현재 진행 중인 Ovaprene® 3상 피임 연구가 포함되어 있으며, 약 125명의 여성이 2025년 2분기까지 6개월 사용을 완료할 것으로 예상되며, 1070만 달러의 비희석 보조금으로 지원받고 있습니다.
회사는 FDA 승인과 503B 프레임워크 배급을 포함한 선택된 독점 제형에 대해 이중 경로 접근 방식을 추구하고 있습니다. 다레는 실데나필 크림 503B 이니셔티브를 지원하기 위해 100만 달러 미만을 투자할 계획이며, 2025년 2분기에 전략적 파트너십 업데이트를 제공할 것으로 기대하고 있습니다.
Daré Bioscience (NASDAQ: DARE) a annoncé ses résultats financiers pour l'année complète 2024 et a prévu de rendre sa crème propriétaire Sildenafil Cream disponible sur prescription via la composition 503B au quatrième trimestre 2025, en s'attendant à générer des revenus et des flux de trésorerie. L'entreprise a terminé 2024 avec 15,7 millions de dollars en liquidités et un déficit de fonds de roulement de 3,2 millions de dollars.
Les points forts financiers montrent une réduction des dépenses, avec des coûts généraux et administratifs en baisse de 24 % à 9,2 millions de dollars et des dépenses de R&D réduites de 34 % à 14,2 millions de dollars par rapport à l'année précédente. Les développements clés de la pipeline comprennent l'étude contraceptive Ovaprene® en phase 3, avec environ 125 femmes qui devraient compléter six mois d'utilisation d'ici le deuxième trimestre 2025, soutenue par une subvention non dilutive de 10,7 millions de dollars.
L'entreprise adopte une approche à double voie pour certaines formulations propriétaires sélectionnées, y compris à la fois l'approbation de la FDA et la distribution dans le cadre 503B. Daré prévoit d'investir moins d'un million de dollars pour soutenir l'initiative Sildenafil Cream 503B et s'attend à fournir des mises à jour sur les partenariats stratégiques au deuxième trimestre 2025.
Daré Bioscience (NASDAQ: DARE) hat die Finanzzahlen für das Gesamtjahr 2024 veröffentlicht und Pläne angekündigt, die firmeneigene Sildenafil Cream ab dem vierten Quartal 2025 auf Rezept über 503B Compounding verfügbar zu machen, mit der Erwartung, Einnahmen und Cashflow zu generieren. Das Unternehmen schloss das Jahr 2024 mit 15,7 Millionen Dollar in bar und einem Working Capital-Defizit von 3,2 Millionen Dollar ab.
Die finanziellen Highlights zeigen gesunkene Ausgaben, wobei die allgemeinen und administrativen Kosten um 24% auf 9,2 Millionen Dollar gesenkt wurden und die F&E-Ausgaben um 34% auf 14,2 Millionen Dollar im Vergleich zum Vorjahr zurückgingen. Zu den wichtigen Entwicklungen in der Pipeline gehört die laufende Ovaprene® Phase-3-Studie zur Empfängnisverhütung, bei der etwa 125 Frauen bis zum zweiten Quartal 2025 voraussichtlich sechs Monate Anwendung abschließen werden, unterstützt durch einen nicht verwässernden Zuschuss von 10,7 Millionen Dollar.
Das Unternehmen verfolgt einen dualen Ansatz für ausgewählte proprietäre Formulierungen, einschließlich sowohl der FDA-Zulassung als auch der 503B-Rahmenverteilung. Daré plant, weniger als 1 Million Dollar in die Sildenafil Cream 503B-Initiative zu investieren und erwartet, im zweiten Quartal 2025 strategische Partnerschafts-Updates bereitzustellen.
- Expected revenue generation starting Q4 2025 from Sildenafil Cream 503B initiative
- 24% reduction in G&A expenses to $9.2 million
- 34% reduction in R&D expenses to $14.2 million
- $10.7 million non-dilutive grant received for Ovaprene study
- Low investment requirement (<$1M) for Sildenafil Cream 503B initiative
- $3.2 million working capital deficit as of December 31, 2024
- Currently only one active clinical study (Ovaprene Phase 3)
Insights
Daré's strategic pivot to offer Sildenafil Cream through 503B compounding represents a significant shift in commercialization strategy that could accelerate revenue generation beginning in Q4 2025. This approach requires minimal investment (
The company's financial position shows
Particularly impressive is Daré's success in securing non-dilutive funding, with grants totaling approximately
The exploration of 503B compounding for other proprietary formulations suggests this could become a broader corporate strategy to accelerate commercialization timelines. This innovative approach in the women's health space could create a meaningful competitive advantage by bringing treatments to market faster while traditional approval processes continue in parallel.
Daré's utilization of the FDA's 503B pathway represents an innovative regulatory strategy rarely seen in biopharma. This approach leverages a legal framework allowing 503B-registered outsourcing facilities to compound drugs under FDA oversight while meeting quality standards and cGMP regulations.
The regulatory brilliance lies in Daré maintaining control of its proprietary Sildenafil Cream formulation while making it available through a single 503B partner. This differs significantly from typical compounding approaches that lack the backing of the formulation developer and often don't have the rigorous clinical testing Daré has conducted.
What makes this approach particularly viable is that Daré's formulation has demonstrated efficacy in peer-reviewed studies showing quantifiable genital response within 10-15 minutes. This scientific validation, combined with completed toxicology studies and randomized placebo-controlled trials, provides substantive support for the formulation's use.
The company's expertise in navigating regulatory pathways is further evidenced by their progress with Ovaprene, where they're working toward a premarket approval application following their pivotal Phase 3 study. Their multi-pronged regulatory strategy - pursuing traditional FDA approval for some products while utilizing 503B pathways for others - demonstrates sophisticated understanding of various regulatory mechanisms to bring women's health products to market efficiently.
With increasing demand for needed treatments designed for women, Daré is taking action to make its proprietary Sildenafil Cream formulation available via prescription this year
- Enables women to access a solution that they want and need
- Creates an opportunity to accelerate revenue generation from this proprietary formulation
- Daré expects to start recording revenue and cash flow in the 4th quarter of this year
Conference call today at 4:30 p.m. ET to discuss the expanded business strategy to integrate 503B compounding as part of a dual-path approach to bring select Daré proprietary formulations to market as soon as practicable
SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) -- Daré Bioscience, Inc. (NASDAQ: DARE), a biopharmaceutical company driven by a mission to challenge the status quo, making women's health a priority, today reported financial results for the year ended December 31, 2024 and provided a company update.
“Daré exists to accelerate innovation in women’s health and our goal is to fulfill the urgent need for access to evidence-based treatment options. We are proud to announce that we are taking action to make our proprietary Sildenafil Cream formulation available via prescription this year as a compounded drug under Section 503B of the FDCA, because we believe women should not have to wait for access to our formulation when an alternative legal path via Section 503B is available while we continue to pursue FDA approval of Sildenafil Cream as a treatment for female sexual arousal disorder. Our proprietary formulation would be produced by a 503B-registered outsourcing facility partner, which is registered with the FDA, subject to FDA inspections and subject to quality standards, including compliance with cGMP regulations,” said Sabrina Martucci Johnson, President and CEO of Daré Bioscience. “After urging on the part of the healthcare community and hearing the demand from women, we are targeting making our proprietary Sildenafil Cream formulation available via one 503B-registered outsourcing facility partner in the fourth quarter of 2025.”
“We believe the diversity of our portfolio, the progress we are making in advancing our product candidates, and the revenue opportunity from our proprietary Sildenafil Cream formulation based on our announcement today, puts Daré on track for meaningful milestones in 2025,” said Ms. Johnson.
Sildenafil Cream and 503B Compounding
"Healthcare providers and women are seeking a formulation of sildenafil that they can trust. Based on the study published in 2024 I am very excited about the availability of Daré’s Sildenafil Cream formulation as an ‘on demand' solution for women," stated Dr. Sheryl Kingsberg, Division Chief of Behavioral Medicine, Department of OBGYN, University Hospitals Cleveland Medical Center, Ohio, and Past President of The International Society for the Study of Women's Sexual Health, as well as co-editor of the Textbook of Female Sexual Function and Dysfunction: Diagnosis and Treatment. “I am thrilled that Daré is taking action to deliver this science-backed formulation—with product consistency from a 503B-registered outsourcing facility, complete toxicology studies, and randomized placebo-controlled studies—to the women who need it without delay."
“As is the case with men, decreased genital blood flow can also compromise a woman's ability to have a pleasurable sexual experience. In January 2020 we published study findings demonstrating that Daré’s Sildenafil Cream elicits a quantifiable, rapid genital response in women within 10-15 minutes using thermography to assess genital temperature changes, a surrogate for genital blood flow,” stated Dr. Irwin Goldstein, the director of San Diego Sexual Medicine and President of The Institute for Sexual Medicine, Inc., and an expert considered a founder of the field of sexual medicine, having been involved with sexual dysfunction research since the late 1970′s and renowned for his work regarding erectile dysfunction as well as female sexual dysfunction. “It is encouraging that Daré is taking action to make this formulation available later this year for the women who need it.”
“Daré is committed to a strategy that optimizes for access to solutions in a fiscally responsible manner. We plan to focus our resources on provider-to-provider education about disease state and our proprietary formulation and do not anticipate needing to invest more than
2024 Highlights and Anticipated 2025 Milestones – Therapeutic Development Pipeline Highlights
Ovaprene®, a novel, investigational hormone-free monthly intravaginal contraceptive whose U.S. commercial rights are under a license agreement with Bayer HealthCare.
- Pivotal Phase 3 contraceptive efficacy study ongoing across the United States; an up to
$10.7 million foundation non-dilutive grant announced November 2024 supports addition of 5 new investigator sites. - Currently, there are 15 active sites from within the Eunice Kennedy Shriver National Institute of Child Health and Human Development's Contraceptive Clinical Trials Network following enrolled participants in the study. Enrollment is currently proceeding at five study sites that were initiated in 2025, funded by the grant received in 2024 to accelerate the overall study timeline. Daré anticipates that approximately 125 women, which is half of the target number of participants to complete the study, will complete approximately six months of Ovaprene use by the end of the second quarter of 2025. This is a designated check point for review of interim data by the study's data safety monitoring board, an independent group of experts which evaluates the safety and integrity of the study.
- The primary objective of the study is to assess the typical use pregnancy rate over 13 menstrual cycles, or the estimated Pearl Index for Ovaprene. Secondary objectives are to assess Ovaprene's 13-cycle use cumulative pregnancy rate, safety, acceptability, product fit/ease of use, and assessments of vaginal health. If successful, Daré expects the study to support the submission of a premarket approval application for Ovaprene to the FDA, as well as regulatory filings in Europe and other countries worldwide, to allow for marketing approvals of Ovaprene.
Sildenafil Cream,
- Continued operational progress toward a planned Phase 3 study, including constructive discussions with FDA; Phase 3 design, development, and collaboration strategy updates expected throughout 2025.
- In December 2024, Daré announced plans for a Phase 3 study of Sildenafil Cream reflecting FDA feedback for safety and efficacy evaluations to support the indication of treatment of FSAD in premenopausal women.
- Daré plans to submit the protocol and statistical analysis plan for an adequate and well-controlled Phase 3 clinical study, reflecting the FDA’s recommendations, to the FDA in the second quarter of 2025, pending review of additional forthcoming recommendations from the FDA that impact Daré’s statistical analysis plan.
DARE-HPV, a proprietary, fixed-dose formulation of lopinavir and ritonavir in a soft gel vaginal insert for the treatment of human papillomavirus (HPV)-related cervical diseases.
- Conducting activities necessary to enable submission of an IND application to the FDA for a Phase 2, randomized, placebo-controlled, double-blind clinical study of DARE-HPV for clearance of high-risk HPV infection in women.
- Supported with up to
$10 million milestone-based non-dilutive award announced October 2024.
DARE-VVA1, an investigational proprietary formulation of tamoxifen for intravaginal administration being developed as a hormone-free alternative to estrogen-based therapies for the treatment of moderate-to-severe dyspareunia, or pain during sexual intercourse.
- Conducting activities in preparation for a Phase 2 clinical study of DARE-VVA1 based on FDA-cleared IND.
DARE-PTB1, an investigational intravaginal ring designed to deliver bio-identical progesterone continuously for up to 14 days for the prevention of preterm birth.
- Conducting activities necessary to enable the IND and a Phase 1 clinical study.
- Supported by a
$2 million grant from NICHD. - A Phase 1 study would also serve to support safety and PK for this progesterone intravaginal ring to also be investigated for luteal phase support as part of an IVF regimen.
Casea S, an investigational biodegradable contraceptive implant. Casea S is designed to control release of a well-characterized contraceptive, etonogestrel, for a set period of time (18-24 months) before dissolving.
- It is designed to provide women with a long-acting, minimally-invasive contraceptive method that will not require surgical removal by a healthcare provider, which would improve convenience and could eliminate one of the barriers to use associated with existing implanted contraceptives.
- Casea S is being tested in a single-center, two-part Phase 1 clinical study to evaluate the PK of etonogestrel, removability, safety, and tolerability of Casea S pellets inserted subdermally in healthy women of reproductive age (ClinicalTrials.gov ID: NCT05174884).
- The ongoing Phase 1 study is being conducted by FHI 360, a nonprofit organization, with support from a foundation grant. There are no development costs to Daré at this time.
- Casea S was recently acquired by Theramex. In February 2025, Daré entered into a co-development and licensing agreement with Theramex for the development of Casea S in the U.S. If Daré determines that the results from the Phase 1 study are positive and elects to proceed with development, Daré would be responsible for conducting a Phase 2 study in the U.S. In accordance with the agreement, the costs of such Phase 2 study would be shared by Daré and Theramex on terms to be agreed upon, taking into account the size of the opportunity for Casea S in the respective markets.
DARE-LARC1, a novel, long-acting, reversible personal contraceptive implant delivering levonorgestrel with a woman-centered design that has the potential to be a long-acting, yet convenient and user-controlled contraceptive option; development supported with an up to
- DARE-LARC1’s woman-centered design seeks to offer the benefits of traditional long-acting reversible contraceptives with the added flexibility and convenience for the user to pause and resume release of levonorgestrel, depending on her desire for fertility or contraceptive protection.
- Under a grant agreement entered into in June 2021, Daré may receive up to approximately
$49.0 million , payable over approximately five years, to advance development of the technology through nonclinical proof of principle studies to enable an IND submission. $3.5 million in grant funding received in 2024, bringing the total received to date to$31.8 million .
Financial Highlights
- Cash position: at December 31, 2024, cash and cash equivalents of approximately
$15.7 million , and working capital deficit of approximately$3.2 million . - General and administrative expenses: approximately
$9.2 million for 2024, which is a24% decrease compared to the prior year due primarily to reduced commercial readiness expenses and reduced headcount. - Research and development (R&D) expenses: approximately
$14.2 million for 2024, which is a34% decrease compared to the prior year. R&D expenses in 2024 primarily reflected the costs of manufacturing activities and ongoing enrollment in the Phase 3 study of Ovaprene. Currently, Daré's only active clinical study is the Phase 3 study of Ovaprene.
We encourage investors to review the more detailed discussion of our financial statements, our financial condition, liquidity, capital resources, and risk factors in our annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC today.
Conference Call
Daré will host a conference call and live webcast today, March 31, 2025, at 4:30 p.m. Eastern Time to review financial results for the year ended December 31, 2024 and to provide a company update.
To access the conference call via phone, dial (646) 307-1963 (U.S.) or (800) 715-9871 (toll free). The conference ID number for the call is 9767621. The live webcast can be accessed under “Presentations, Events & Webcasts" in the Investors section of the company's website at http://ir.darebioscience.com. Please log in approximately 5-10 minutes prior to the call to register and to download and install any necessary software. The webcast will be archived in the same section of the company's website and available for replay until April 14, 2025.
About Daré Bioscience
Daré Bioscience is a biopharmaceutical company driven by a mission to challenge the status quo, making women's health a priority. We believe that innovation does not have to start from scratch. Our goal is to bring to market as soon as practicable innovative evidence-based solutions that address decades of unmet needs in women’s health and enhance outcomes and convenience, primarily in the areas of contraception, sexual health, pelvic pain, fertility, infectious disease, vaginal health and menopause. The potential products we identify, in many cases, already have clinical proof of concept or existing safety data for the active ingredient that we leverage. This gives us optionality and flexibility, in many cases, in how we seek to bring solutions to market in ways designed to optimize access for women in a fiscally responsible manner.
The first FDA-approved product to emerge from Daré’s portfolio of women’s health product candidates is XACIATO™ (clindamycin phosphate) vaginal gel
Daré Bioscience leadership has been named on the Medicine Maker’s Power List and Endpoints News’ Women in Biopharma and Daré's CEO has been honored as one of Fierce Pharma’s Most Influential People in Biopharma for Daré’s contributions to innovation and advocacy in the women’s health space.
Daré may announce material information about its finances, product and product candidates, clinical trials and other matters using the Investors section of its website (http://ir.darebioscience.com), SEC filings, press releases, public conference calls and webcasts. Daré will use these channels to distribute material information about the company and may also use social media to communicate important information about the company, its finances, product and product candidates, clinical trials and other matters. The information Daré posts on its investor relations website or through social media channels may be deemed to be material information. Daré encourages investors, the media, and others interested in the company to review the information Daré posts in the Investors section of its website and to follow these X (formerly Twitter) accounts: @SabrinaDareCEO and @DareBioscience. Any updates to the list of social media channels the company may use to communicate information will be posted in the Investors section of Daré’s website.
Forward-Looking Statements
Daré cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” “project,” “target,” “objective,” “on track,” or the negative version of these words and similar expressions. In this press release, forward-looking statements include, but are not limited to, statements relating to plans and expectations with respect to Daré’s product candidates, including clinical development plans, trial design, timelines, costs, milestones, targeted indications, clinical trials and results, regulatory strategy, and FDA communications, submissions and review of applications; the clinical potential of and market opportunities for Daré’s product candidates; Daré’s go-to-market strategies; Daré’s plans and timing for making its proprietary formulation of Sildenafil Cream available by prescription in the U.S. as a compounded drug via Section 503B of Federal Food, Drug, and Cosmetic Act, the anticipated amount needed to invest to support the activities required to make its proprietary formulation of Sildenafil Cream available in such manner, its market opportunity and ability to gain market acceptance, and the expected timing of revenue and cash flow from sales; the potential future development of Casea S and that funding for future studies of Casea S may be shared between Daré and Theramex; potential third-party collaborations; expectations regarding existing collaborations; the amount and timing of Daré’s receipt of funds under grant agreements. As used in this press release, “first-in-category” is a forward-looking statement relating to the potential of a product candidate to represent a new category of product if it were to receive marketing approval for the indication for which it is being developed because Daré believes it would address a need in women’s health that is not being met by existing FDA-approved products. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Daré’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, without limitation, risks and uncertainties related to: Daré’s ability to raise additional capital when and as needed to advance its product candidates, execute its business strategy and continue as a going concern; the risk of delisting of Daré’s common stock from Nasdaq; developments impacting U.S. federal government contracting and funding of research and development activities; the degree of market demand and acceptance for Daré’s proprietary formulation of Sildenafil Cream provided as a compounded drug; Daré’s reliance on third parties to manufacture and conduct clinical trials and preclinical studies of its product candidates and commercialize XACIATO™ (clindamycin phosphate) vaginal gel
Contacts:
Daré Bioscience Investor Relations
innovations@darebioscience.com
Source: Daré Bioscience, Inc.
Dare Bioscience, Inc. and Subsidiaries | ||||||||
Consolidated Statement of Operations and Comprehensive Loss | ||||||||
December 31, | ||||||||
2024 | 2023 | |||||||
Revenue | ||||||||
License fee revenue | $ | - | $ | 1,000,000 | ||||
Milestone revenue | - | 1,800,000 | ||||||
Royalty revenue | 9,784 | 7,885 | ||||||
Total revenue | 9,784 | 2,807,885 | ||||||
Operating expenses | ||||||||
General and administrative | 9,156,061 | 12,109,691 | ||||||
Research and development | 14,205,208 | 21,538,074 | ||||||
License fee expense | 100,000 | 100,000 | ||||||
Total operating expenses | 23,461,269 | 33,747,765 | ||||||
Loss from operations | (23,451,485 | ) | (30,939,880 | ) | ||||
Other income (expense) | ||||||||
Sale of royalty and milestone rights, net of transaction costs | 20,379,676 | - | ||||||
Other (expense) income | (981,490 | ) | 778,489 | |||||
Net loss | $ | (4,053,299 | ) | $ | (30,161,391 | ) | ||
Net loss to common shareholders | (4,053,299 | ) | (30,161,391 | ) | ||||
Foreign currency translation adjustments | (67,913 | ) | (9,585 | ) | ||||
Comprehensive loss | $ | (4,121,212 | ) | $ | (30,170,976 | ) | ||
Loss per common share - basic and diluted | $ | (0.48 | ) | $ | (4.15 | ) | ||
Weighted average number of common shares outstanding: | ||||||||
Basic and diluted | 8,497,459 | 7,275,308 | ||||||
Dare Bioscience, Inc. and Subsidiaries | ||||||||
Consolidated Balance Sheets Data | ||||||||
December 31, | ||||||||
2024 | 2023 | |||||||
Cash and cash equivalents | $ | 15,698,174 | $ | 10,476,056 | ||||
Working capital (deficit) | $ | (3,161,150 | ) | $ | (2,936,897 | ) | ||
Total assets | $ | 22,101,131 | $ | 21,282,215 | ||||
Total liabilities | $ | 28,113,220 | $ | 26,329,855 | ||||
Total stockholders' deficit | $ | (6,012,089 | ) | $ | (5,047,640 | ) |
