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Daré Bioscience Inc (DARE)
NASDAQ:DARE
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Daré Bioscience
(NASDAQ:DARE)
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Rating:54Neutral
Price Target:
$2.50
▲(15.74% Upside)
Daré Bioscience's overall stock score reflects significant financial challenges, including unprofitability and negative equity, which weigh heavily on the score. However, positive momentum in technical indicators and promising developments in the product pipeline, as highlighted in the earnings call, provide some optimism. The valuation remains a concern due to ongoing losses, but strategic initiatives and potential market interest in new products offer potential upside.
Positive Factors
Product Pipeline Advancements
The launch of DARE to PLAY Sildenafil Cream marks a significant milestone in women's sexual health, showcasing Daré's ability to bring innovative products to market and potentially driving future revenue growth.
Strategic Control Over Ovaprene
Regaining full control over Ovaprene enhances Daré's strategic position, allowing for direct management of its development and commercialization, which could attract partnerships and increase market competitiveness.
Strong Financial Position
A robust cash position provides Daré with the financial flexibility to support ongoing R&D and strategic initiatives, essential for sustaining long-term growth and innovation.
Negative Factors
Persistent Unprofitability
Ongoing unprofitability raises concerns about Daré's ability to achieve financial sustainability, potentially limiting its capacity to invest in growth and innovation without external funding.
Negative Equity
Negative equity indicates financial instability and insolvency risk, which could deter potential investors and partners, impacting Daré's strategic options and market perception.
Increased G&A Expenses
Rising G&A expenses could strain Daré's financial resources, reducing the funds available for R&D and product development, potentially impacting long-term growth and innovation.
Daré Bioscience (DARE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.86M
Dividend YieldN/A
Average Volume (3M)170.74K
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees21
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.28
Shares Outstanding14,289,229
10 Day Avg. Volume281,723
30 Day Avg. Volume170,743
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)-4.41
Price to Sales (P/S)2709.59
P/FCF Ratio5.50
Enterprise Value/Market Cap0.79
Enterprise Value/Revenue3.72K
Enterprise Value/Gross Profit-1.41
Enterprise Value/Ebitda-1.53
Forecast
1Y Price Target
$10.00Price Target Upside362.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Daré Bioscience Business Overview & Revenue Model
Company DescriptionDaré Bioscience, Inc. is a clinical-stage biopharmaceutical company focused on the development of innovative therapeutics for women's health. The company specializes in addressing unmet medical needs in areas such as contraception, reproductive health, and sexual health. Its core products include a range of therapies aimed at enhancing women's health outcomes, leveraging proprietary drug delivery technologies and clinical advancements.
How the Company Makes MoneyDaré Bioscience generates revenue primarily through a combination of product sales, licensing agreements, and collaborations with larger pharmaceutical companies. The company's revenue model includes potential milestones and royalties from its strategic partnerships, as well as funding from government grants and other research institutions aimed at supporting women's health initiatives. Successful clinical trial outcomes can lead to partnerships with larger entities, which may provide significant upfront payments and ongoing royalties from the commercialization of products developed through these collaborations.
Daré Bioscience Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 26, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant advancements in Daré Bioscience's commercial and clinical pipeline, supported by strong financial management and strategic partnerships. However, increased expenses and limitations in capital generation were noted concerns. Overall, the positive developments in the product pipeline and financial position outweigh the challenges.Q3-2025 Updates
Positive Updates
Commercial Launch of DARE to PLAY Sildenafil Cream
Daré Bioscience is on track to launch DARE to PLAY Sildenafil Cream through a 503B outsourcing facility by the end of the year, marking a major milestone for women's sexual health.
Strong Financial Position
The company ended the quarter with approximately $23 million in cash and cash equivalents and received $18.7 million from sales of common stock and $7.3 million in grant payments.
Grant-Funded Programs Advancing
Key programs like Ovaprene and DARE-HPV are advancing with support from grants, demonstrating strategic collaborations and disciplined capital allocation.
Upcoming Product Launches
The company plans to introduce DARE to RESTORE vaginal probiotic products in Q1 2026 and DARE to RECLAIM hormone therapy in early 2027.
Negative Updates
Increased G&A Expenses
General and administrative expenses increased to $2.5 million, up from $2 million in the same period last year, due to professional services and commercial readiness expenses.
Limited ATM Capacity
The company is subject to 'baby shelf' limitations, which restrict the use of the ATM, impacting potential capital generation.
Company Guidance
In the recent conference call, Daré Bioscience provided detailed guidance on its strategic initiatives and financial performance for the third quarter of 2025. The company emphasized its dual path strategy, focusing on both the commercialization of proprietary formulations through 503B compounding and the pursuit of FDA approval, as well as advancing select solutions as branded consumer health products without prescription requirements. Notably, Daré is on track to launch DARE to PLAY Sildenafil Cream through a 503B outsourcing facility by the end of the year, marking a significant milestone in women's sexual health. The company is also preparing to introduce DARE to RESTORE vaginal probiotic products in early 2026 and DARE to RECLAIM, a hormone therapy ring, in early 2027. Financially, Daré ended the quarter with $23 million in cash and cash equivalents and received $18.7 million from common stock sales and $7.3 million in grant payments. G&A expenses increased to $2.5 million, while R&D expenses decreased by 56% due to increased nondilutive funding. The company's pipeline includes grant-funded programs targeting contraception, HPV infection, and preterm birth, underscoring its commitment to addressing unmet needs in women's health.Daré Bioscience Financial Statement Overview
Summary
Daré Bioscience faces significant financial challenges, including persistent unprofitability, negative equity, and high liabilities, indicating financial distress. Despite a recent positive trend in cash flow and revenue growth, the company's long-term sustainability remains questionable without a turnaround in profitability and a more stable balance sheet.Income Statement
Daré Bioscience has struggled with profitability, as evidenced by consistently negative net income over the years. While there was a notable increase in revenue in 2024, the gross profit margin remains 100% due to revenue equaling gross profit, but this is overshadowed by significant negative EBIT and EBITDA margins, indicating high operational costs. The revenue growth from 2023 to 2024 is positive, which is a good sign, but the company remains unprofitable overall.22
Negative
Balance Sheet
The balance sheet reveals a worrying situation with negative stockholders' equity, indicating financial instability. Additionally, the debt-to-equity ratio is not applicable due to negative equity, and the company is highly leveraged with total liabilities exceeding total assets. The negative equity ratio suggests insolvency risk, which is a significant concern for stakeholders.15
Very Negative
Cash Flow
While Daré Bioscience has managed to generate a positive operating cash flow in 2024, indicating some operational efficiency, the free cash flow remains inconsistent over the years. The positive free cash flow to net income ratio in 2024 is a positive indicator, but the historical volatility in cash flows points to potential financial management challenges.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.52K | 9.78K | 2.81M | 10.00M | 0.00 | 0.00 |
| Gross Profit | -17.19M | -14.30M | -18.83M | -20.14M | -100.00K | -83.33K |
| EBITDA | -15.91M | -23.41M | -30.70M | -31.36M | -39.04M | -27.36M |
| Net Income | -17.46M | -4.05M | -30.16M | -30.95M | -38.70M | -27.40M |
Balance Sheet | ||||||
| Total Assets | 30.75M | 22.10M | 21.28M | 43.83M | 55.81M | 7.55M |
| Cash, Cash Equivalents and Short-Term Investments | 23.08M | 15.70M | 10.48M | 34.67M | 51.67M | 4.67M |
| Total Debt | 2.93M | 1.30M | 1.40M | 488.74K | 270.55K | 756.84K |
| Total Liabilities | 27.89M | 28.11M | 26.33M | 32.71M | 17.05M | 8.70M |
| Stockholders Equity | 2.86M | -6.01M | -5.05M | 11.11M | 38.75M | -1.15M |
Cash Flow | ||||||
| Free Cash Flow | -6.85M | 4.82M | -39.49M | -18.15M | -28.78M | -25.25M |
| Operating Cash Flow | -6.10M | 5.39M | -38.86M | -18.09M | -28.76M | -25.23M |
| Investing Cash Flow | -741.49K | -573.05K | -629.43K | -63.07K | -14.52K | -17.63K |
| Financing Cash Flow | 18.72M | 433.83K | 15.64M | 1.34M | 75.85M | 25.13M |
Daré Bioscience Technical Analysis
Positive
2.16
Price Trends
1.95
Positive
2.04
Positive
2.43
Negative
Market Momentum
0.10
Negative
55.61
Neutral
47.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DARE, the sentiment is Positive. The current price of 2.16 is above the 20-day moving average (MA) of 1.98, above the 50-day MA of 1.95, and below the 200-day MA of 2.43, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 55.61 is Neutral, neither overbought nor oversold. The STOCH value of 47.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DARE.
Daré Bioscience Risk Analysis
Daré Bioscience disclosed 82 risk factors in its most recent earnings report. Daré Bioscience reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Daré Bioscience Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $30.86M | -4.89 | ― | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $31.17M | -0.69 | -87.18% | ― | ― | 38.42% | |
40 Underperform | $27.53M | -0.44 | -44.88% | ― | ― | -0.50% | |
37 Underperform | $21.90M | -0.02 | -565.18% | ― | -48.74% | 89.18% | |
30 Underperform | $24.98M | -1.44 | ― | ― | ― | 31.09% |
* Healthcare Sector Average
DARE
Daré Bioscience
2.16
-1.04
-32.50%
HIND
Vyome Holdings
3.63
-442.37
-99.19%
LNAI
Lunai Bioworks
0.99
-9.31
-90.39%
PASG
Passage Bio
10.02
-3.01
-23.10%
NRSN
Neurosense Therapeutics Ltd.
0.84
-0.44
-34.38%
BOLD
Boundless Bio Inc.
1.21
-1.37
-53.10%
Daré Bioscience Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
Daré Bioscience Gains Full Control Over Ovaprene
Positive
Dec 1, 2025
On November 26, 2025, Daré Bioscience announced that Bayer HealthCare LLC will terminate their license agreement effective February 24, 2026, returning all rights to the investigational contraceptive Ovaprene to Daré. This move, due to Bayer’s strategic prioritization, allows Daré to fully control Ovaprene’s development and commercialization, strengthening its strategic position in the women’s health market. The ongoing Phase 3 clinical trial of Ovaprene continues with positive interim results and is supported by grant funding, with enrollment expected to complete in 2026. The return of rights enhances Daré’s strategic options, potentially attracting broad interest from pharmaceutical and consumer health sectors.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.