What does Dare Bioscience do and what are its main business segments?

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What is the revenue and EPS growth rate for Dare Bioscience year over year?

What factors drove the changes in Dare Bioscience's revenue and profit?

What is Dare Bioscience's latest dividend and current dividend yield?

Did Dare Bioscience beat or miss consensus estimates last quarter?

What were the key takeaways from Dare Bioscience’s earnings call?

What guidance did Dare Bioscience's management provide for the next earnings period?

- **Breakthrough Launch:** DARE to PLAY, the first FDA-GMP compliant topical sildenafil cream, begins national dispensing Q2 2026, backed by clinical data showing 10-minute efficacy.
- **Dual Strategy Success:** 503B commercialization and FDA pathway advancement for multiple products, including DARE to RECLAIM (2027 launch) and Ovaprene (Phase III data 2027).
- **Financial Strength:** $24.7M cash, $19.4M non-dilutive funding, and Q2 2026 revenue from DARE to PLAY and DARE to RESTORE.
- **Innovative Pipeline:** Addresses $2.5B-$4.5B hormone therapy market, $6M HPV untreated population, and growing demand for non-hormonal contraception.

**【Management Opening Remarks】**
- Sabrina Martucci Johnson, CEO, emphasized Daré Bioscience's 10-year commitment to women's health, highlighting its pipeline of 12+ products targeting unmet needs in sexual health, contraception, menopause, and infectious disease. The company employs a dual strategy: commercializing via 503B compounding while pursuing FDA approval for select products.

**【CEO Commentary】**
- **DARE to PLAY (Sildenafil Cream):** Launched in all 50 states for pre-fulfillment prescriptions in February 2026. Backed by clinical data showing 10-minute genital blood flow increase and validated endpoints, it is the first FDA-GMP compliant topical sildenafil cream. Telehealth access is available, with dispensing expected Q2 2026.
- **DARE to RESTORE (Vaginal Probiotics):** Flora Sync LF5, a peer-reviewed, clinically tested suppository, will launch Q2 2026 as a consumer health product. It complements prescription offerings and targets vaginal microbiome balance.
- **DARE to RECLAIM (Bioidentical Hormone Therapy):** A monthly intravaginal ring for menopause, targeting the $2.5B-$4.5B market. Expected 503B availability in 2027 with concurrent FDA pathway pursuit.
- **Ovaprene (Non-Hormonal Contraceptive):** Phase III enrollment expected to complete in 2026, with a 2027 data readout. ARPA-H funded, addressing demand for non-implanted contraception.
- **DARE-HPV (Pharmacologic Treatment):** First-in-class therapy for high-risk HPV, advancing to Phase II in 2026 with ARPA-H support. Addresses $6M annual U.S. cases with no FDA-approved treatment.

**【CFO Financial Commentary】**
- **Cash Position:** $24.7M as of Dec 31, 2025, supported by $20.8M in equity raises and $19.4M in non-dilutive funding (Gates Foundation, ARPA-H, NIH).
- **Revenue Outlook:** Q2 2026 launch of DARE to PLAY and DARE to RESTORE revenue. DARE to RECLAIM expected in 2027.
- **Cost Management:** SG&A down 4% YoY to $8.8M; R&D expense reduced to $5.5M, but actual R&D investment higher due to $13.9M contra-R&D (grants).

**【Q&A Highlights】**
- **FDA Interaction:** Ongoing dialogue on sildenafil cream endpoints; Phase III safety data aligns with oral sildenafil, with minimal systemic exposure.
- **DARE to PLAY Demand:** Prescriptions growing across telehealth and brick-and-mortar providers; dispensing to begin Q2 2026.
- **Competitive Advantage:** Only FDA-GMP compliant topical sildenafil with clinical data, differentiating from custom compounding pharmacies.
- **Partnerships:** Exploring telehealth and platform distributor collaborations for scaled, capital-efficient growth.

Dare Bioscience Inc (DARE) Q4 2025 Earnings Call Transcript

- **Commercial Milestone**: DARE to PLAY Sildenafil Cream launched Q4 2025 via 503B, targeting $1.2B women's sexual health market.
- **Pipeline Progress**: Phase III Ovaprene contraceptive trial on track for 2026 completion; DARE-HPV intravaginal therapy IND filing underway.
- **Financial Strength**: $23M cash, $31M+ grants fund R&D; 503B launches position for near-term revenue.
- **FDA Strategy**: Dual-path approach for DARE to RECLAIM hormone therapy (503B Q1 2027 + FDA) capitalizes on FDA policy shift.

**【CEO Summary Section】**
- Launched DARE to PLAY Sildenafil Cream via 503B outsourcing facility in December 2025, targeting women's sexual health market with first FDA-backed topical Sildenafil formulation.
- Expanded commercial portfolio with DARE to RESTORE vaginal probiotics (Q1 2026 launch) and DARE to RECLAIM compounded hormone therapy (Q1 2027 launch).
- Advanced R&D pipeline with Phase III Ovaprene contraceptive trial (enrollment completion expected 2026), DARE-HPV intravaginal therapy (IND filing underway), and DARE-LARC1 long-acting contraceptive (preclinical stage).
- Leveraged $31M+ nondilutive grant funding from NIH, ARPA-H, and Gates Foundation to support clinical programs.

**【CFO Financial Commentary】**
- Ended Q3 2025 with $23M cash, up from $18.7M net proceeds from stock sales and $7.3M grants.
- G&A expenses rose 25% YoY to $2.5M due to commercial readiness and professional services.
- R&D expenses fell 56% YoY to $1.2M due to grant offsets, partially offset by new program costs.
- Maintained $3.8M working capital despite $3.7M net cash outflow.

**【Q&A Highlights】**
- FDA reversal on hormone therapy guidance validates DARE to RECLAIM's non-oral estradiol/progesterone ring strategy, with 503B launch in Q1 2027 and parallel FDA path.
- DARE to PLAY Sildenafil Cream will use Medvantx telehealth platform for prescriptions, with Google Ads and influencer partnerships planned for 2026.
- ATM limited by baby shelf rules, but $31M+ grants provide capital for clinical programs.
- Prioritizing Ovaprene (Phase III), DARE-HPV (IND), and DARE-LARC1 (preclinical) as highest-impact R&D programs.

Daré Bioscience, Inc. (DARE) Q3 2025 Earnings Call Transcript

- **Q4 2025 Launch Milestone**: DARE to PLAY Sildenafil Cream set to address unmet need in women's sexual health via 503B pathway.
- **Ovaprene Phase III Progress**: Interim data positive, with potential $310M Bayer commercial milestones.
- **Financial Strength**: $17.6M post-quarter funding boost liquidity, enabling dual-path execution.
- **Innovation Pipeline**: Grant-funded programs (DARE-HPV, DARE-LARC1) target significant unmet needs in women's health.

**【Management Opening Remarks】**
- Daré Bioscience highlighted its dual-path strategy: commercializing proprietary formulations through 503B compounding while pursuing FDA approval, alongside branded consumer health products without prescriptions.
- Emphasized focus on women's health innovation, with a pipeline targeting unmet needs in contraception, HPV, and preterm birth.

**【CEO Summary Section】**
- **DARE to PLAY Sildenafil Cream**: On track for Q4 2025 launch via 503B outsourcing facility. Early patient awareness campaign with Rosy Wellness shows strong interest. Provider webinar highlighted clinical evidence of improved arousal outcomes.
- **Ovaprene Contraceptive**: Phase III trial interim data positive; no safety concerns, pregnancy rate consistent with expectations. Bayer has option to acquire U.S. rights with potential $310M milestones and royalties.
- **DARE-HRT1 Hormone Therapy Ring**: Dual FDA/503B pathway targeting $4.5B compounded HRT market, with 503B launch expected in late 2026.
- **Vaginal Probiotics**: Consumer health expansion with evidence-based products launching post-DARE to PLAY.

**【CFO Financial Commentary】**
- **Cash Position**: $5M at quarter end, with $17.6M net proceeds from stock sales and $6M grant post-quarter, improving liquidity.
- **Expenses**: G&A down 4% YoY to $2.4M; R&D down 71% to $1.4M due to grant offsets and reduced manufacturing costs.
- **Grant-Funded Programs**: DARE-HPV (ARPA-H/NIH), DARE-LARC1 (long-acting contraceptive) advancing with nondilutive funding.

**【Product Updates】**
- **DARE-HPV**: Intravaginal therapy for persistent high-risk HPV, supported by ARPA-H funding.
- **DARE-LARC1**: Preclinical long-acting contraceptive with remote pause/resume control, $6M grant received.


Daré Bioscience, Inc. (DARE) Q2 2025 Earnings Call Transcript

- **Revenue Growth Path**: Q4 2025 revenue start with 3 new products; $4.5B hormone therapy market entry in 2026.
- **Dual-Track Success**: 503B + consumer health brand strategy reduces regulatory risk and accelerates access.
- **Financial Strength**: 14% G&A reduction, 31% R&D decline, $10.3M cash balance supporting execution.
- **Strategic Momentum**: Multiple partnerships in pipeline to expand distribution across telehealth, online, and clinical channels.

**【CEO Strategic Update】**
- Launched 3 new products in 2025: 2 vaginal probiotics and a monthly intravaginal hormone therapy (DARE HRT1), with first revenue expected Q4 2025.
- Expanded business strategy: Commercialize via 503B compounding while pursuing FDA approval, and launch as branded consumer health products without prescription.
- Targeting $4.5B compounded hormone therapy market with DARE HRT1 in 2026.
- Building partnerships with telehealth platforms, online retailers, and medical providers to maximize access.

**【CFO Financial Summary】**
- Q1 2025: 
  - General & Administrative Expenses: $2.3M (-14% YoY)
  - R&D Expenses: $2.3M (-31% YoY)
  - Comprehensive Loss: $4.4M
  - Cash: $10.3M (vs. $9.4M working capital deficit)
- Cost control initiatives driving expense reductions.

**【Key Q&A Highlights】**
- **Partnerships**: Multiple platforms for each product to maximize distribution, including telehealth, online, and in-person channels.
- **Manufacturing**: 503B partner ready for Sildenafil Cream production at scale by Q4 2025.
- **FDA Feedback**: Positive industry response to dual-path strategy; FDA requests psychometric validation for Sildenafil Cream Phase 3 study.
- **Clinical Trials**: Ovaprene Phase 3 enrollment on track, interim safety review scheduled for July 2025.
- **R&D Outlook**: Lower R&D spend expected until additional studies commence.


Daré Bioscience, Inc. (DARE) Q1 2025 Earnings Call Transcript

- **Sildenafil Cream Breakthrough**: 503B launch Q4 2025 to accelerate access, with FDA Phase 3 concurrent. 
- **Financial Resilience**: $15.7M cash; $20.7M non-dilutive funding supports R&D. 
- **Ovaprene Risk**: Enrollment delays at CCTN sites due to federal funding uncertainty. 
- **Pipeline Expansion**: DARE-HPV targeting HPV clearance; DARE-VVA1 for non-hormonal menopause therapy.

**【CEO Opening Remarks】**
- Announced plans to make proprietary Sildenafil Cream formulation available via 503B compounding in Q4 2025, while continuing FDA approval pursuit for female sexual arousal disorder (FSAD). 
- Highlights Sildenafil Cream's unique attributes: completed toxicology, PK/PD studies, and peer-reviewed clinical data. 
- Dual-path strategy: accelerate revenue via compounding ($1M+ potential in 2025) while leveraging real-world evidence to streamline FDA approval. 
- Expanding portfolio to include 503B pathways for other assets, targeting Q2 2025 updates on partnerships and consumer health products.

**【CFO Financial Summary】**
- 2024 revenue: $22M from XACIATO royalty financing; comprehensive loss of $4.5M. 
- G&A expenses down 24% to $9.2M; R&D expenses down 34% to $14.2M due to reduced clinical trial activity. 
- Cash balance: $15.7M as of year-end; 2024 non-dilutive funding: $20.7M from federal and Gates Foundation grants.

**【Product Updates】**
1. **Sildenafil Cream**: 
   - 503B launch Q4 2025; FDA Phase 3 protocol submission Q2 2025. 
   - Market potential: ~33% of US women (21-60) experience low arousal. 
2. **Ovaprene**: 
   - Phase 3 enrollment paused at CCTN sites due to federal funding uncertainty; interim DSMB review Q3 2025. 
   - Target population: ~27M women seeking hormone-free contraception. 
3. **DARE-HPV**: 
   - $10M federal grant to advance Phase 2 for HPV-related cervical disease treatment. 
   - Potential first FDA-approved pharmaceutical for HPV clearance. 
4. **DARE-VVA1**: 
   - Phase 2 preparation for tamoxifen intravaginal formulation to treat dyspareunia. 
   - Addresses unmet need for non-hormonal menopause therapies.

**【Q&A Highlights】**
1. **503B & FDA Balance**: 
   - Pricing strategy to align with FDA-approved pathway; real-world data to support registration. 
   - Open-label extensions to incentivize Phase 3 participation. 
2. **Ovaprene Risk**: 
   - Enrollment delay at CCTN sites due to federal funding; 5 new sites initiated in 2025. 
   - DSMB review focuses on safety, not efficacy, at 6-month mark.


Actual				-2.16	-3.24	-2.88	-2.64	-1.92	-2.16	-2.16	-1.32	-1.2	0	-0.96	-2.28	-1.08	-1.2	-1.0938	-0.84	-0.84	1.52	-0.55		-0.5	-0.45	-0.28	0.03
Forecast				-3.54	-1.8	-2.04	-1.58	-2.76	-1.89	-1.53	-1.752	-1.71	-0.76	-1.4	-1.64	-1.2	-1.18	-1.176	-1.08	-0.72	-0.039	-0.685		-0.58	-0.5803	-0.384	-0.44
Surprise	0.00%	0.00%	0.00%	+38.98%	-80.00%	-41.18%	-67.09%	+30.43%	-14.29%	-41.18%	+24.66%	+29.82%	+100.00%	+31.43%	-39.02%	+10.00%	-1.69%	+6.99%	+22.22%	-16.67%	+3997.44%	+19.71%	0.00%	+13.79%	+22.45%	+27.08%	+106.82%

Actual	--	--	--	0	0	0	0	0	0	0	--	0	10.00M	0	0	0	0	1.00M	1.81M	9.30K	22.44K	41.69K	--	25.43K	-21.17K	2.26K	1.02M
Forecast	--	--	--	0	277.67K	304.33K	645.00K	0	0	5.72M	1.67M	362.75K	10.00M	7.96M	0	1.67M	1.10M	733.33K	2.38M	260.50K	7.86M	1.03M	--	600.00K	282.75K	13.07K	751.50K
Surprise	0.00%	0.00%	0.00%	0.00%	-100.00%	-100.00%	-100.00%	0.00%	0.00%	-100.00%	0.00%	-100.00%	0.00%	-100.00%	0.00%	-100.00%	-100.00%	+36.36%	-23.92%	-96.43%	-99.71%	-95.97%	0.00%	-95.76%	-107.49%	-82.69%	+36.22%

DARE

DARE fundamentals

DARE Q4 2025 Earnings

Earnings Call

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DARE

DARE fundamentals

DARE Q4 2025 Earnings

Earnings Call

DARE Earnings Call Summary for Q4/20254:30 PM on Mar 26, 2026

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DARE Earnings Call Summary for Q2/20254:30 PM on Aug 14, 2025

DARE Earnings Call Summary for Q1/20254:30 PM on May 13, 2025

DARE Earnings Call Summary for Q4/20244:30 PM on Mar 31, 2025

You can ask Aime