Daré Bioscience's Q2 2025: Diverging Paths in Marketing, Financial Health, and R&D Investment

Dual-Path Strategy and Product Launches:
- Daré Bioscience is focused on a dual-path strategy, aiming to commercialize proprietary formulations through 503B compounding while pursuing FDA approval.
- Key products include DARE to PLAY Sildenafil cream, set for a Q4 2025 launch, and DARE-HRT1, targeting availability via a 503B outsourcing facility in late 2026.
- The strategy enables efficient value unlocking by leveraging nondilutive capital and a disciplined investment strategy.

Clinical Pipeline and Grant-Funded Programs:
- Daré's clinical pipeline showed progress, with Ovaprene Phase III trial continuing as planned based on interim data.
- Grant-funded programs like DARE-HPV and DARE-LARC1 are in development, with a $6 million grant installment received for DARE-LARC1.
- These programs target significant unmet needs in women's health and further differentiate Daré's pipeline.

Financial Results and Capital Strengthening:
- Daré ended Q2 2025 with approximately $5 million in cash and a working capital deficit of $12.6 million.
- Post-quarter end, Daré received $17.6 million in net proceeds from stock sales and a $6 million grant payment, significantly strengthening its balance sheet.
- The additional capital enhances Daré's ability to execute on its dual-path strategy and advance its innovation in women's health.