Daré Bioscience Reports Third Quarter 2024 Financial Results and Provides Company Update

Core Insights - Daré Bioscience, Inc. is advancing multiple innovative treatments for women's health, including a pivotal Phase 3 study for Ovaprene®, a hormone-free contraceptive, and a planned Phase 3 study for Sildenafil Cream to treat female sexual arousal disorder [1][3][9] Development Programs and Milestones - Ovaprene® is undergoing a pivotal Phase 3 efficacy study across the U.S., with a foundation grant of approximately $10.7 million to expand clinical sites and accelerate development [1][8] - Sildenafil Cream, a topical formulation for female sexual arousal disorder, is progressing towards a Phase 3 study, with ongoing discussions with the FDA regarding study design and endpoints [1][10] - DARE-HPV, a treatment for HPV-related cervical diseases, is preparing for a Phase 2 clinical study, supported by a $10 million award from ARPA-H [1][3] - DARE-VVA1, a tamoxifen formulation for dyspareunia, is in preparation for a Phase 2 study, while DARE-PTB1, an intravaginal ring for preterm birth prevention, is preparing for a Phase 1 study with a $2 million grant from NICHD [1][4] Financial Performance - For the quarter ended September 30, 2024, the company reported cash and cash equivalents of $11.2 million, with a net loss of $4.7 million compared to a loss of $8.3 million in the same quarter of 2023 [11][28] - Research and development expenses decreased by 60% to $2.7 million, primarily due to the completion of the Phase 2b study for Sildenafil Cream [13][28] - General and administrative expenses were $2.0 million, down from $2.7 million in the previous year, reflecting reduced professional services and commercial readiness expenses [12][28] Strategic Collaborations and Funding - The company has established a $15 million equity line arrangement with Lincoln Park Capital Fund and secured $22 million in non-dilutive strategic royalty financing, positioning it for significant milestones in 2025 [5][11] - The collaboration with Bayer HealthCare for Ovaprene® is expected to enhance market opportunities, as there are currently no FDA-approved monthly hormone-free contraceptives [6][7]