Daré Bioscience Q2 2025 Earnings Call: Financial Results and Business Update

Daré Bioscience reported Q2 2025 financial results and provided a business update. The company is pursuing a dual-path strategy, commercializing proprietary formulations through 503B compounding and advancing select solutions as branded consumer health products. CEO Sabrina Martucci Johnson and Chief Accounting Officer MarDee J. Haring-Layton discussed the company's clinical pipeline and expanded business strategy during the call.

Daré Bioscience, Inc. (NASDAQ: DARE) reported its financial results for the second quarter of 2025, providing a comprehensive update on its dual-path strategy and clinical pipeline. The company, focused on closing the gap in women's health, has been executing a strategy that combines near-term revenue generation through 503B compounding and long-term value creation through branded consumer health products.

The company's near-term focus is on the anticipated launch of DARE to PLAY™ Sildenafil Cream through a 503B outsourcing facility in the fourth quarter of 2025. This product, designed to treat female sexual arousal disorder, is expected to generate revenue in the same quarter. The company has also launched the first phase of a direct-to-patient campaign in collaboration with Rosy Wellness, further positioning it for near-term commercial success.

Ovaprene®, an investigational hormone-free intravaginal contraceptive, continues to show promise. The independent data safety monitoring board (DSMB) reviewed interim safety data and recommended study continuation without modification. The primary endpoint will assess the typical use pregnancy rate over 13 menstrual cycles, highlighting Ovaprene’s potential as a first-in-category contraceptive.

Daré is also advancing multiple grant-funded programs, including DARE-HPV and DARE-LARC1. DARE-HPV is a novel intravaginal therapy to treat persistent high-risk genital human papillomavirus (HPV) infections, while DARE-LARC1 is an investigational long-acting contraceptive intended to offer multi-year protection with remote pause/resume capability.

The company aims to create entry into the estimated $4.5 billion compounded hormone therapy market with its proprietary monthly intravaginal ring, DARE-HRT1. This product is being pursued through both an FDA approval pathway and a 503B compounding opportunity, targeting late 2026.

Financial highlights for the quarter ended June 30, 2025, included a cash position of approximately $5.0 million and a working capital deficit of $12.6 million. Post-quarter-end, the company received approximately $17.6 million in net proceeds from sales of its common stock and a $6.0 million grant installment payment, significantly strengthening its balance sheet.

The company also reported a decrease in research and development (R&D) expenses to $1.4 million in Q2 2025 compared to $4.9 million in Q2 2024, primarily due to reductions in R&D expenses related to non-dilutive funding awards.

During the conference call, CEO Sabrina Martucci Johnson and Chief Accounting Officer MarDee J. Haring-Layton discussed the company's clinical pipeline and expanded business strategy. They emphasized Daré's commitment to delivering differentiated therapies for women and its ability to optimize access to innovative solutions.

Daré encourages investors to review its detailed discussion of financial condition, results of operations, liquidity, capital resources, and risk factors included in its Form 10-Q for the quarter ended June 30, 2025, filed with the U.S. Securities and Exchange Commission (SEC).

References:
[1] https://www.globenewswire.com/news-release/2025/08/14/3133824/30757/en/Dar%C3%A9-Bioscience-Reports-Second-Quarter-2025-Financial-Results-and-Provides-Corporate-Update.html