Daré Bioscience (DARE) AI Stock Analysis

• Market Cap: $27.50M
• Dividend Yield: N/A
• Average Volume (3M): 146.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: 88.13%
• EPS Growth: 92.45%
• Country: US
• Employees: 21
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.45
• Shares Outstanding: 13,479,502
• 10 Day Avg. Volume: 108,654
• 30 Day Avg. Volume: 146,353
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: 936.61
• Enterprise Value/Gross Profit: -1.71
• Enterprise Value/Ebitda: -1.11
• 1Y Price Target: $10.33
• Price Target Upside: 382.71% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 46 Neutral
• Price Target: $2.00 ▼(-6.54% Downside)

Daré Bioscience's overall stock score is primarily impacted by its financial instability, with persistent unprofitability and negative equity posing significant risks. While the earnings call provided an optimistic outlook with strategic initiatives and upcoming product launches, the technical analysis and valuation metrics reflect a bearish sentiment and unattractive valuation. The company's future growth potential hinges on successful execution of its dual-path strategy and product commercialization.

Positive Factors

Product Pipeline Progress

The continuation of the Ovaprene Phase III trial without safety concerns and potential commercialization by Bayer indicates strong product pipeline progress, enhancing Daré's market position in women's health.

Strategic Partnerships

Partnerships like the one with Bayer for Ovaprene commercialization provide financial backing and market access, crucial for Daré's growth and competitive advantage in the biotechnology sector.

Financial Strengthening

The recent financial inflow from stock sales and grants strengthens Daré's balance sheet, providing necessary capital to support ongoing R&D and potential product launches, crucial for long-term sustainability.

Negative Factors

Financial Instability

Ongoing financial instability, marked by negative equity and unprofitability, poses significant risks to Daré's ability to sustain operations and invest in growth, threatening long-term viability.

Working Capital Deficit

A substantial working capital deficit limits Daré's operational flexibility and ability to invest in strategic initiatives, potentially hindering growth and innovation in the competitive biotech industry.

High Operational Costs

High operational costs leading to negative EBIT and EBITDA margins indicate inefficiencies that could erode profitability and limit Daré's ability to compete effectively in the long term.

Daré Bioscience Business Overview & Revenue Model

Company Description

Daré Bioscience, Inc., a clinical-stage biopharmaceutical company, engages in the identifying, developing, and marketing products for women's health in the United States. It develops therapies in the areas of contraception, fertility, and sexual and vaginal health. The company's product includes XACIATO, a single-dose vaginal gel prescription product for the treatment of bacterial vaginosis in female patients 12 years of age and older. Its products in advanced clinical development include Ovaprene, a hormone-free monthly vaginal contraceptive; and Sildenafil Cream, a cream formulation of sildenafil for topical administration to the vulva and vagina for treatment of female sexual arousal disorder. The company's Phase 1-ready products are DARE-HRT1, a combination of bio-identical estradiol and progesterone intravaginal ring for the treatment of vasomotor symptoms in hormone therapy; DARE-VVA1, a vaginally delivered formulation of tamoxifen to treat vulvar and vaginal atrophy in patients with hormone-receptor positive breast cancer; and DARE-FRT1, an intravaginal ring containing bio-identical progesterone for the prevention of preterm birth and broader luteal phase support as part of an in vitro fertilization treatment plan, as well as DARE-PTB1, an intravaginal ring containing bio-identical progesterone for the prevention of preterm birth. Its products in pre-clinical stage include DARE-LARC1, a combination product designed to provide reversible contraception; ADARE-204 and ADARE-214, an injectable formulations of etonogestrel to provide contraception over 6-month and 12-month periods; and DARE-RH1, a non-hormonal contraception for men and women. The company entered into license agreement with Organon & Co. and Organon International GmbH to commercialize XACIATO. Daré Bioscience, Inc. is headquartered in San Diego, California.

How the Company Makes Money

Daré Bioscience generates revenue primarily through a combination of product development partnerships, grants, and potential future product sales. The company collaborates with various pharmaceutical companies and research institutions to develop its product candidates, which may involve upfront payments, milestone payments, and royalties on future sales. Additionally, Daré may receive funding from government grants or other sources aimed at supporting research and development in women's health. As the company advances its product candidates through clinical trials and regulatory approval processes, it aims to monetize these assets through commercialization agreements or partnerships, thereby creating significant revenue opportunities.

Daré Bioscience Financial Statement Overview

Summary

Daré Bioscience faces significant financial challenges, with 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.

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.

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	25.91K	9.78K	2.81M	10.00M	0.00	0.00
Gross Profit	-14.22M	-503.54K	2.77M	9.95M	-26.41K	-43.23K
EBITDA	-21.82M	-23.41M	-30.90M	-31.36M	-39.04M	-27.36M
Net Income	-1.68M	-4.05M	-30.16M	-30.95M	-38.33M	-27.40M
Balance Sheet
Total Assets	18.62M	22.10M	21.28M	43.83M	55.81M	7.55M
Cash, Cash Equivalents and Short-Term Investments	10.33M	15.70M	10.48M	34.67M	51.67M	4.67M
Total Debt	3.57M	1.30M	1.40M	488.74K	270.55K	756.84K
Total Liabilities	28.18M	28.11M	26.33M	32.71M	17.05M	8.70M
Stockholders Equity	-9.56M	-6.01M	-5.05M	11.11M	38.75M	-1.15M
Cash Flow
Free Cash Flow	-13.43M	4.82M	-39.49M	-18.15M	-28.78M	-25.25M
Operating Cash Flow	-12.99M	5.39M	-38.86M	-18.09M	-28.76M	-25.23M
Investing Cash Flow	-445.15K	-573.05K	-629.43K	-63.07K	-14.52K	-17.63K
Financing Cash Flow	572.72K	433.83K	15.64M	1.34M	75.85M	25.13M

Daré Bioscience Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DARE, the sentiment is Neutral. The current price of 2.14 is above the 20-day moving average (MA) of 2.08, below the 50-day MA of 2.21, and below the 200-day MA of 2.80, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 51.49 is Neutral, neither overbought nor oversold. The STOCH value of 36.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DARE.

Daré Bioscience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLNN	58 Neutral	60.92M	-2.33	444.85%	―	-35.29%	45.18%
DARE	46 Neutral	$27.50M	―	597.53%	―	88.13%	92.45%
GBIO	45 Neutral	38.80M	-0.53	-133.86%	―	61.15%	54.71%
PYPD	41 Neutral	35.16M	-0.90	―	―	―	61.18%
VYNE	40 Underperform	8.22M	-0.36	-76.48%	―	-2.06%	64.86%
NRSN	30 Underperform	30.51M	-2.12	―	―	―	31.09%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Daré Bioscience Corporate Events

Daré Bioscience Engages Market with New Presentation

Daré Bioscience, Inc. announced that it will use a corporate presentation dated September 2, 2025, in various meetings with securities market participants. The presentation will be available on the company’s website in the ‘Investors’ section, indicating a strategic move to engage with stakeholders and potentially enhance its market presence.

Daré Bioscience Meets Nasdaq Equity Requirement

On July 24, 2025, Daré Bioscience received confirmation from Nasdaq that it met the stockholders’ equity requirement, ensuring compliance with the Nasdaq Capital Market’s listing rules. However, the company will be under a Mandatory Panel Monitor for one year, and any non-compliance within this period could lead to a delist determination without the opportunity for a compliance plan or additional time to regain compliance.

Daré Bioscience Announces Positive Phase 3 Trial Results

On July 14, 2025, Daré Bioscience announced positive interim results from its Phase 3 clinical trial of Ovaprene®, a hormone-free monthly intravaginal contraceptive. The trial’s data safety monitoring board recommended continuing the study without modification, as no new safety concerns were identified. Approximately 9% of participants experienced pregnancy, aligning with expectations, while 17% discontinued due to vaginal odor. Participants expressed a high likelihood of using Ovaprene if available, highlighting its potential to meet the demand for hormone-free contraceptive options. Bayer has the option to commercialize Ovaprene in the U.S., potentially providing significant financial benefits to Daré.

Daré Bioscience Stockholder Meeting Approves Key Proposals

On July 9, 2025, Daré Bioscience reconvened its stockholder meeting initially held on June 12, 2025, which was adjourned due to a lack of quorum. During the meeting, four proposals were voted on, including the election of Class II directors, the ratification of Haskell & White LLP as the independent accounting firm for 2025, approval of executive compensation, and the 2022 Plan Amendment, all of which were passed by the stockholders.

Daré Bioscience Gains Nasdaq Compliance Extension Approval

On June 24, 2025, Daré Bioscience received approval from the Nasdaq Hearings Panel for its modified plan to regain compliance with Nasdaq Listing Rules, with a conditional continued listing period until August 12, 2025. The company must demonstrate compliance with either the Stockholders’ Equity Rule or the Minimum MVLS Rule by July 31, 2025, or face potential delisting, which could impact its stock market presence and capital-raising capabilities.

Daré Bioscience Announces Corporate Presentation for Investors

On June 9, 2025, Daré Bioscience, Inc. announced its intention to use a corporate presentation in meetings with securities market participants and others. The presentation will be accessible on the company’s website in the ‘Investors’ section. This move is part of Daré’s strategy to engage with stakeholders and provide transparency about its operations and future plans.