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Daré Bioscience
(NASDAQ:DARE)
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Rating:44Neutral
Price Target:
$0.67
▼(-11.07% Downside)
Action:Reiterated
Date:10/02/26
The score is driven primarily by weak financial performance (persistent losses, negative gross profit, and ongoing cash burn with negative equity), which outweighs improving operational progress discussed on the earnings call. Technicals remain pressured with the stock below key longer-term moving averages, and corporate events elevate risk due to Nasdaq listing compliance challenges; valuation metrics provide limited support given the negative P/E and no dividend yield.
Positive Factors
Commercial Expansion
The first direct product launch establishes a commercial foundation beyond licensing or development activities. Adding DARE-VVA1 to the dispensing channel could broaden revenue sources and create a multi-product platform, although the benefits depend on sustained adoption and execution.
Negative Factors
Persistent Unprofitability
Revenue growth has not yet translated into a viable earnings model: gross profit remains negative and operating losses are substantial. This limits internally generated funding for development and commercialization, leaving the company dependent on future revenue growth, cost control, or outside capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial Expansion
The first direct product launch establishes a commercial foundation beyond licensing or development activities. Adding DARE-VVA1 to the dispensing channel could broaden revenue sources and create a multi-product platform, although the benefits depend on sustained adoption and execution.
Read all positive factors
Daré Bioscience (DARE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.53M
Dividend YieldN/A
Average Volume (3M)201.53K
Price to Earnings (P/E)―
Beta (1Y)1.52
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees23
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.79
Shares Outstanding19,669,083
10 Day Avg. Volume125,714
30 Day Avg. Volume201,531
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)75.90
Price to Sales (P/S)209.43
P/FCF Ratio-21.01
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue18.72
Enterprise Value/Gross Profit-20.92
Enterprise Value/Ebitda-2.97
Forecast
1Y Price Target
$10.00Price Target Upside1233.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.95
Revenue Forecast (FY)$2.10M
Daré Bioscience Business Overview & Revenue Model
Company Description
Daré Bioscience, Inc. develops therapies in the areas of contraception, pelvic pain, fertility, infectious disease, menopause, and sexual and vaginal health in the United States. The company offers XACIATO, a lincosamide antibacterial gel for the ...
Daré Bioscience Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call described meaningful operational and clinical progress — a first product launch, an approaching prescription product with early prescription activity, positive Phase III interim data for Ovaprene, and non-dilutive funding supporting R&D. However, these positives are balanced by constrained near-term financials: modest Q2 revenue ($200k), limited cash ($12.6M) with a slight working capital deficit, a sizable deferred grant liability (~$15M), and ongoing net losses. Regulatory nuance around Ovaprene completers and the fact that DARE-VVA1 is not yet dispensing also add execution and timing risk. Overall, the update reflects promising commercial and clinical momentum but with material near-term financial and execution challenges.Positive Updates
First Direct Commercial Product Launch
Flora Sync LF5 launched in June as Dare's first directly commercialized product (non-prescription probiotic). Sales began in July and will start being recorded in Q3 2026.
Negative Updates
Limited Near-Term Revenue
Total revenue for Q2 2026 was only $200,000 (solely R&D services and royalty revenue). Flora Sync LF5 sales began in July and were not included in Q2 results; meaningful commercial revenue is still nascent.
Read all updates
Q2-2026 Updates
Positive
Negative
First Direct Commercial Product Launch
Flora Sync LF5 launched in June as Dare's first directly commercialized product (non-prescription probiotic). Sales began in July and will start being recorded in Q3 2026.
Read all positive updates
Company Guidance
The company guided toward disciplined commercial execution in 2026 with its first direct-to-market product (Flora Sync LF5, launched in June with sales recorded beginning July) and DARE‑VVA1 (prescription dispensing targeted to begin this quarter), while building a multi‑product revenue profile into 2027 (DARE‑HRT1 revenue targeted in 2027). Key metrics cited include Q2 cash of ~$12.6M (06/30/2026), a working capital deficit of ~$(200)K and a deferred grant liability of ~ $15M; Q2 revenue of $200K (vs. $(21)K prior year), SG&A ~$2.6M (vs. $2.4M), R&D ~$200K (vs. $1.4M), and net loss improving to ~$(3)M (vs. $(4)M). Clinical and commercial benchmarks: Flora Sync LF5 was evaluated in a 100‑patient randomized study and targets consumers in a market where ~65% of women 18–65 report concern about vaginal scent; DARE‑VVA1 addresses an estimated 20M U.S. women (a ~$2B opportunity at $99/tube ≈10 uses/tube) and is available initially via 503B compounding while pursuing 505(b)(2) approval; Ovaprene Phase III aims to enroll 400–500 participants (FDA amended to remove 250 completer expectation) to achieve ≥2,500 menstrual cycles of exposure with topline data in 2027; DARE‑HPV1 Phase II plans ~100 women with topline 2027 results and has received $2M total non‑dilutive funding to date.Daré Bioscience Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.37M | 1.03M | 9.78K | 2.81M | 10.00M | 0.00 |
| Gross Profit | -1.22M | -1.42M | -14.30M | -18.83M | -20.14M | -100.00K |
| EBITDA | -8.62M | -10.43M | -4.01M | -30.70M | -30.92M | -38.67M |
| Net Income | -10.99M | -13.40M | -4.05M | -30.16M | -30.95M | -38.70M |
Balance Sheet | ||||||
| Total Assets | 22.37M | 32.47M | 22.10M | 21.28M | 43.83M | 55.81M |
| Cash, Cash Equivalents and Short-Term Investments | 12.62M | 24.71M | 15.70M | 10.48M | 34.67M | 51.67M |
| Total Debt | 6.76M | 2.66M | 1.30M | 1.40M | 488.74K | 270.55K |
| Total Liabilities | 22.93M | 29.63M | 28.11M | 26.33M | 32.71M | 17.05M |
| Stockholders Equity | -560.10K | 2.84M | -6.01M | -5.05M | 11.11M | 38.75M |
Cash Flow | ||||||
| Free Cash Flow | -11.76M | -10.27M | 4.82M | -39.49M | -18.15M | -28.78M |
| Operating Cash Flow | -11.29M | -9.89M | 5.39M | -38.86M | -18.09M | -28.76M |
| Investing Cash Flow | -461.93K | -385.28K | -573.05K | -629.43K | -63.07K | -14.52K |
| Financing Cash Flow | 19.31M | 19.28M | 433.83K | 15.64M | 1.34M | 75.85M |
Daré Bioscience Technical Analysis
Negative
0.75
Price Trends
0.78
Negative
1.28
Negative
1.62
Negative
Market Momentum
-0.04
Positive
29.19
Positive
15.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DARE, the sentiment is Negative. The current price of 0.75 is below the 20-day moving average (MA) of 0.77, below the 50-day MA of 0.78, and below the 200-day MA of 1.62, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 29.19 is Positive, neither overbought nor oversold. The STOCH value of 15.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DARE.
Daré Bioscience Risk Analysis
Daré Bioscience disclosed 89 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 |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $55.51M | -0.85 | -70.89% | ― | ― | 1.11% | |
46 Neutral | $11.55M | -0.32 | -218.59% | ― | ― | 38.14% | |
45 Neutral | $12.91M | -0.06 | -254.62% | ― | -97.99% | 99.28% | |
44 Neutral | $13.53M | -0.87 | -748.08% | ― | ― | ― | |
39 Underperform | $4.53M | -0.36 | 723.04% | ― | ― | ― |
* Healthcare Sector Average
DARE
Daré Bioscience
0.65
-1.44
-68.85%
HIND
Vyome Holdings
1.80
-3.73
-67.45%
LNAI
Lunai Bioworks
0.47
-7.85
-94.35%
PASG
Passage Bio
3.51
-3.92
-52.76%
NRSN
Neurosense Therapeutics Ltd.
2.44
-20.76
-89.48%
BOLD
Boundless Bio Inc.
2.44
1.03
73.05%
Daré Bioscience Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Daré Bioscience Faces Nasdaq Minimum Bid Price Noncompliance
Negative
Oct 2, 2026
On September 28, 2026, Daré Bioscience, Inc. disclosed that it received notice from Nasdaq that its common stock had closed below the $1.00 minimum bid price for 30 consecutive business days, triggering noncompliance with Nasdaq’s listi...
Business Operations and StrategyRegulatory Filings and Compliance
Daré Bioscience Releases Updated Investor Corporate Presentation
Neutral
Oct 1, 2026
On October 1, 2026, Daré Bioscience furnished a new corporate presentation for use in meetings with securities market participants and other stakeholders. The company also made the presentation available to the public through the investors se...
Business Operations and StrategyShareholder Meetings
Daré Bioscience Updates Bylaws to Ease Shareholder Quorum
Positive
Sep 11, 2026
On September 10, 2026, Daré Bioscience, Inc.’s board of directors approved an immediate amendment to its Third Amended and Restated By-Laws to lower the quorum requirement for all stockholder meetings. The threshold was reduced from a m...
Business Operations and StrategyRegulatory Filings and Compliance
Daré Bioscience Updates Investors with New Presentation
Neutral
Sep 9, 2026
On September 9, 2026, Daré Bioscience furnished a new corporate presentation that it began using in meetings with securities market participants and other stakeholders. The presentation, provided as investor information rather than a formal s...
Business Operations and StrategyPrivate Placements and Financing
Daré Bioscience Announces New Equity Financing Agreements
Positive
Aug 17, 2026
On August 14, 2026, Daré Bioscience entered into a securities purchase agreement with institutional investors for a registered direct offering of common stock and pre-funded warrants, priced at $1.37 per share, alongside a concurrent private ...
Business Operations and StrategyRegulatory Filings and Compliance
Daré Bioscience Releases New Investor Corporate Presentation
Neutral
Jul 24, 2026
On July 24, 2026, Daré Bioscience, Inc. furnished a new corporate presentation it plans to use in meetings with securities market participants and other stakeholders. The presentation, dated the same day, is being made available through the i...
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.