Dare Bioscience, Inc.
DARE evidence brief
What we can confirm
- BioSniper Score:
- 6.0 / 10
- Market Cap:
- $13.9M
- Lead Asset:
- dare to play sildenafil (Approved)
What it means
What to watch
Prepared research question
What matters most for DARE—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · DARE
Daré Bioscience, Inc. is a women's health biotech company transitioning to a commercial-stage business with a pipeline spanning contraception, sexual health, and vaginal health, and reporting $12.6M cash as of 2026-06-30 [sec].
Key risk: Negative equity
BioSniper Score
Based on 4 of 6 signals
Market Cap
$13.9M
Cash Runway
—
Lead Asset
dare to play sildenafil (Approved)
Next Catalyst
Patent_Expiry · Sep 22, 2036Financial data as of Jun 30, 2026.
Tracking 6 pipeline candidates · 2 clinical trials · 1 catalyst for Dare Bioscience, Inc..
Daré Bioscience, Inc. is a women's health biotech company transitioning to a commercial-stage business with a pipeline spanning contraception, sexual health, and vaginal health, and reporting $12.6M cash as of 2026-06-30 [sec].
- Cash & equivalents of $12.6M as of 2026-06-30 [sec].
- Total revenue of $0.2M and net loss of -$3.0M for the quarter ended 2026-06-30 [sec].
- Launched first directly commercialized product, Flora Sync LF5, in July 2026 [news · 2026-08-13].
- Ovaprene Phase 3 contraceptive trial has positive interim results and a second positive DSMB review [news · 2026-05-14].
- DARE to PLAY Sildenafil Cream progressing toward national dispensing and initial revenue in Q3 2026 [news · 2026-08-13].
What works
- First commercial product (Flora Sync LF5) launched and generating revenue, marking a shift to commercial stage [news · 2026-08-13].
- Ovaprene Phase 3 trial received two positive DSMB reviews, supporting its potential as a first hormone-free monthly contraceptive [news · 2026-05-14].
- Multiple near-term revenue opportunities from DARE to PLAY and other consumer health products [news · 2026-08-13].
- Non-dilutive grant funding supports development of DARE-LARC1 and DARE-HPV, reducing near-term capital needs [sec_mda · as of 2026-03-26].
What to weigh
- Negative shareholders' equity of -$0.6M as of 2026-06-30 indicates accumulated losses exceed equity [sec].
- Very low revenue ($0.2M) relative to net loss (-$3.0M) in the latest quarter shows ongoing cash burn [sec].
- Company states it needs additional capital to fund operating needs [sec · filed 2026-08-26].
- Ovaprene requires PMA approval, a lengthy and uncertain regulatory pathway [pipeline].
From the filings
Quoted directly from source documents.
First commercial product launch
“Company launches Flora Sync LF5™, the company's first directly commercialized product, began generating revenue in July”
News · August 13, 2026
Ovaprene Phase 3 positive DSMB review
“Second Positive DSMB Review of Interim Data from Ovaprene® Phase 3 Clinical Trial”
News · May 14, 2026
Need for additional capital
“Until we secure additional capital to fund our operating needs, we”
SEC filings · August 26, 2026
Catalyst timeline
- 2036-09-22 · Patent_Expiry · CLINDAMYCIN PHOSPHATE — Patent_Expiry: NDA215650 — Expiration of a patent related to clindamycin phosphate; may affect competitive landscape for related products.
Risks & what to watch (4)›
Key risks
- Negative equity — Shareholders' equity of -$0.6M as of 2026-06-30 indicates liabilities exceed assets [sec].
- Cash runway uncertainty — $12.6M cash with $3.0M quarterly net loss implies limited runway without additional capital [sec].
- Regulatory risk for Ovaprene — Ovaprene is on PMA pathway, which is more complex and uncertain than 510(k) [pipeline].
- Low revenue base — Revenue of $0.2M in latest quarter is minimal relative to operating costs [sec].
What to watch
- DARE to PLAY Sildenafil Cream national dispensing and initial revenue in Q3 2026 [news · 2026-08-13].
- Ovaprene Phase 3 trial completion and potential PMA filing [pipeline].
- Flora Sync LF5 revenue trajectory and commercial adoption [news · 2026-08-13].
- Ability to secure additional capital to fund operations [sec · filed 2026-08-26].
Sources: Catalysts · News · Pipeline · SEC filings · SEC MD&A · Generated October 7, 2026 · How we verify sources →
Run Dare Bioscience, Inc. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$3M
Lead: Approved
6 candidates
1 upcoming, next in ~3631d
No insider transactions in the last 180 days
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
26
Total value held
$1.8M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 462,305 | $841K |
| geode capital management, llc | 177,839 | $324K |
| us bancorp \de\ | 91,370 | $166K |
| vanguard fiduciary trust co | 65,938 | $120K |
| ubs group ag | 43,363 | $79K |
| state street corp | 23,515 | $43K |
| xtx topco ltd | 22,339 | $41K |
| susquehanna international group, llp | 17,130 | $31K |
| blackrock, inc. | 16,971 | $31K |
| northern trust corp | 15,431 | $28K |
Showing top 10 of 26 institutional holders of Dare Bioscience, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 2.5%
- Days to cover
- 0.4
- Shares short
- 358,082
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
DARE short interestGovernance
Frequently asked questions
What is the AI investment thesis for Dare Bioscience, Inc.?
Daré Bioscience, Inc. is a women's health biotech company transitioning to a commercial-stage business with a pipeline spanning contraception, sexual health, and vaginal health, and reporting $12.6M cash as of 2026-06-30 [sec].
What is Dare Bioscience, Inc.'s lead drug candidate?
Dare Bioscience, Inc.'s most advanced tracked candidate is dare to play sildenafil (Approved) for female sexual arousal disorder.
What is Dare Bioscience, Inc.'s next catalyst?
Dare Bioscience, Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA215650" — expected September 22, 2036.
Who is the CEO of Dare Bioscience, Inc.?
Ms. Sabrina Martucci Johnson is the chief executive officer of Dare Bioscience, Inc. (DARE).
Where is Dare Bioscience, Inc. headquartered?
Dare Bioscience, Inc. (DARE) is headquartered in San Diego, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.