Dare Bioscience reports Q2 EPS 1.52 vs. ($1.22) last year

Reports cash and cash equivalents: $16.4M at June 30. In April 2024, Dare received $22M in gross proceeds in a non-dilutive royalty monetization transaction with XOMA and a $1M payment as the latest installment under an up to $49M grant agreement with a foundation in support of nonclinical development of the investigational contraceptive, DARE-LARC1. To date, Dare has received approximately $29.3M under the DARE-LARC1 grant agreement.”In addition to the continued commercialization by our collaborator Organon of XACIATO vaginal gel 2%, the first FDA-approved product to emerge from our portfolio and a treatment for bacterial vaginosis in females aged 12 and older* that is available by prescription nationwide, we continue to advance our first-in-category Phase 3 development candidates. Enrollment in our Phase 3 study of Ovaprene, our potentially first-in-category hormone-free monthly intravaginal contraceptive candidate, is ongoing at sites across the U.S. and we continue to see a robust response to the central advertising campaign that went live in March. We are continuing our interactions with the FDA regarding the Phase 3 program for Sildenafil Cream 3.6% in female sexual arousal disorder. While we await additional FDA feedback, we have been performing operational activities to support the planned Phase 3 program. Despite its high prevalence, there are currently no FDA-approved treatments for female sexual arousal disorder,” said Sabrina Martucci Johnson, President and CEO of Dare Bioscience. “The progress across our portfolio, along with the $22 million we secured in the non-dilutive strategic royalty financing we announced in the second quarter, puts Dare on track for meaningful milestones in 2024. In addition, we are excited about the increased attention on the health and wellbeing of women, including by grant making agencies, and continue to execute on our mission to accelerate development of and bring to market innovative treatments that women want and need by advancing our late-stage candidates – all of which represent a first-in-category opportunity – as we seek to deliver value for all Dare stakeholders.”