Daré Bioscience(DARE) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $2,262, a significant decrease from $41,691 in Q3 2024, representing a decline of approximately 94.6%[22] - Operating expenses for Q3 2025 totaled $3,674,410, down from $4,723,040 in Q3 2024, indicating a reduction of about 22.2%[22] - The net loss for Q3 2025 was $3,562,766, compared to a net loss of $4,702,501 in Q3 2024, reflecting an improvement of approximately 23.9%[22] - The company reported a loss per common share of $0.28 for Q3 2025, an improvement from a loss of $0.55 per share in Q3 2024[22] - General and administrative expenses for Q3 2025 were $2,499,242, up from $2,041,268 in Q3 2024, reflecting an increase of about 22.4%[22] - Research and development expenses decreased to $1,175,168 in Q3 2025 from $2,681,772 in Q3 2024, a reduction of approximately 56.2%[22] Cash and Assets - The company reported a cash position of approximately $23.1 million and working capital of approximately $3.8 million as of September 30, 2025[17] - Cash and cash equivalents increased to $23,075,261 as of September 30, 2025, up from $15,698,174 at the end of 2024, marking a growth of about 47.0%[24] - Total assets rose to $30,748,574 as of September 30, 2025, compared to $22,101,131 at the end of 2024, representing an increase of approximately 38.9%[24] - The company's total stockholders' equity improved to $2,857,903 as of September 30, 2025, compared to a deficit of $6,012,089 at the end of 2024[24] Product Development and Strategy - Daré Bioscience is on track to launch DARE to PLAY™ Sildenafil Cream by December 2025, representing a near-term revenue generation opportunity[2] - DARE to RECLAIM™ Monthly Hormone Therapy is targeted for early 2027, establishing entry into the estimated $4.5 billion compounded hormone therapy market[2] - The independent data safety monitoring board (DSMB) recommended the continuation of the Phase 3 study for Ovaprene without modification, indicating positive interim results[8] - Daré expects four women's health products to be commercially available over the next two years, enhancing its market presence[8] - The company is advancing multiple grant-funded programs, including DARE-HPV, DARE-LARC1, and DARE-NHC, with significant funding received in 2025[8] - Daré is focused on creating value for shareholders through a disciplined, multi-pronged strategy that includes both clinical innovation and near-term commercial solutions[7] Upcoming Events - The company is preparing for a webinar on November 17, 2025, to discuss clinical data related to DARE to PLAY™ Sildenafil Cream[2]