Dare Bioscience, Inc.
DARE evidence brief
What we can confirm
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 is a women's health biotechnology company focused on developing and commercializing product candidates in late-stage clinical development and 503B/consumer health markets.
Key risk: Going concern risk
BioSniper Score
Based on 5 of 6 signals
Market Cap
$14.2M
Cash Runway
6.2 moLead Asset
dare to play sildenafil (Approved)
Next Catalyst
Phase1_Start · Sep 1, 2026Financial data as of Jun 30, 2026.
Tracking 6 pipeline candidates · 2 clinical trials · 2 catalysts for Dare Bioscience, Inc..
Daré Bioscience is a women's health biotechnology company focused on developing and commercializing product candidates in late-stage clinical development and 503B/consumer health markets.
- Cash & equivalents of $12.9M 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].
- Shareholders' equity of -$12.7M as of 2026-06-30 [sec].
- Primary operations include advancing Ovaprene (Phase 3) and executing 503B/consumer health strategies for DARE to PLAY, DARE to RECLAIM, and DARE to RESTORE [sec_mda · as of 2026-03-26].
- Company expects to need substantial additional capital to continue operations and execute business strategy [sec_mda · as of 2026-03-26].
What works
- Focus on women's health with a portfolio addressing unmet needs in contraception, sexual health, and vaginal health [sec · filed 2026-08-26].
- Non-dilutive grant funding supports development of DARE-LARC1 and DARE-HPV, reducing near-term cash burn [sec_mda · as of 2026-03-26].
- Revenue generation from 503B compounding and consumer health products (e.g., DARE to PLAY, Flora Sync LF5) expected to begin in Q2 2026 [sec_mda · as of 2026-03-26].
- Ovaprene Phase 3 study ongoing, representing a potential late-stage catalyst [sec_mda · as of 2026-03-26].
What to weigh
- Negative shareholders' equity of -$12.7M and accumulated deficit indicate significant financial strain [sec].
- Going concern uncertainty due to reliance on additional capital to fund operations [sec_mda · as of 2026-03-26].
- Limited revenue ($0.2M) and history of operating losses; future profitability depends on successful product launches and regulatory approvals [sec].
- Dependence on external partnerships and 503B outsourcing facilities for commercialization; inexperience in commercial infrastructure [sec_mda · as of 2025-11-13].
From the filings
Quoted directly from source documents.
Primary focus on Ovaprene and 503B/consumer health strategies
“we will focus our research and development resources primarily on advancement of Ovaprene. In addition, we expect to incur significant research and development”
SEC filings · August 26, 2026
Need for additional capital to continue operations
“We will need to raise substantial additional capital to continue to fund our operations and execute our current business strategy.”
SEC filings · March 26, 2026
Catalyst timeline
- 2026-09-01 · Phase1_Start — Phase 1 start for an open-label, four-treatment, parallel PK study of a progesterone product.
- 2036-09-22 · Patent_Expiry · XACIATO — Patent/exclusivity expiry for XACIATO, which may affect competitive landscape.
Risks & what to watch (4)›
Key risks
- Going concern risk — Company may not have sufficient cash to fund operations without additional capital [sec_mda · as of 2026-03-26].
- Clinical trial delays — Failure or delay in starting, conducting, or completing clinical trials could impact timelines [sec · filed 2025-12-01].
- Regulatory approval uncertainty — FDA approval for product candidates is uncertain and may not be obtained [sec_mda · as of 2026-03-26].
- Intellectual property risks — Ability to retain licensed rights and protect IP is critical; disputes could arise [sec · filed 2025-12-01].
What to watch
- Ovaprene Phase 3 study progress and any interim data [sec_mda · as of 2026-03-26].
- Revenue ramp from 503B/consumer health products starting Q2 2026 [sec_mda · as of 2026-03-26].
- Ability to raise additional capital through equity or partnerships [sec_mda · as of 2026-03-26].
- Phase 1 start for progesterone PK study on 2026-09-01 [catalyst].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
6.2 months
OCF -$7M · Net income -$3M
Lead: Approved
6 candidates
2 upcoming, next in ~2d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
24
Total value held
$2.4M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 924,610 | $1.7M |
| geode capital management, llc | 177,839 | $324K |
| vanguard fiduciary trust co | 65,938 | $120K |
| 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 |
| raymond james financial inc | 15,334 | $28K |
| lpl financial llc | 14,639 | $27K |
Showing top 10 of 24 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 is a women's health biotechnology company focused on developing and commercializing product candidates in late-stage clinical development and 503B/consumer health markets.
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 Phase1_Start event — "Phase 1 Start: An Open-Label, Four-Treatment, Parallel Study of the Comparative Pharmacokinetics of a Progesterone " — expected September 1, 2026.
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.