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Daré Bioscience (DARE) investor relations material
Daré Bioscience Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Accelerated execution of a dual-path strategy, commercializing proprietary formulations via 503B compounding and advancing select products as branded consumer health solutions, with a focus on women's health and expanded business model since March 2025.
Near-term commercial launches include DARE to PLAY Sildenafil Cream (Q4 2025/December), DARE to RESTORE vaginal probiotics (Q1 2026), and DARE to RECLAIM hormone therapy ring (early 2027), validating the compounding strategy.
Pipeline includes advanced candidates such as Ovaprene (Phase 3), DARE-HRT1, DARE-VVA1, DARE-HPV, and DARE-NHC, with multiple grant-funded programs progressing.
Positive interim DSMB review for Ovaprene Phase 3 supports continued enrollment and aligns with expectations for pregnancy rates.
Financial highlights
Cash and cash equivalents at September 30, 2025 were $23.1 million, with working capital of $3.8 million.
Net loss for the nine months ended September 30, 2025 was $12.0 million; Q3 2025 net loss was $3.56 million, an improvement year-over-year.
G&A expenses increased to $2.5 million (Q3 2025) due to higher professional services and commercial readiness costs; R&D expenses decreased 56% year-over-year to $1.2 million.
Revenue for the nine months ended September 30, 2025 was $6,517, down 91% from the prior year, reflecting non-cash royalty revenue.
Operating expenses for the nine months ended September 30, 2025 were $12.1 million, down 33% year-over-year, primarily due to increased grant offsets and lower R&D costs.
Outlook and guidance
Initial prescription fulfillment of DARE to PLAY Sildenafil Cream expected in December 2025, with nationwide availability targeted for early 2026; commercial revenue expected to begin in Q4 2025 but not expected to be material in 2025.
DARE to RESTORE vaginal probiotics expected to launch in Q1 2026; DARE to RECLAIM hormone therapy ring targeted for early 2027.
Ovaprene Phase 3 enrollment ongoing, with completion anticipated in 2026.
Additional capital will be required to advance non-grant-funded programs and support long-term plans.
DARE to PLAY broad market access strategy
Criteria for non-grant R&D program investment
DARE to RECLAIM FDA Phase III design details
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Next Daré Bioscience earnings date
Q4 202527 Mar, 2026
Next Daré Bioscience earnings date
Q4 202527 Mar, 2026
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Frequently asked questions
Daré Bioscience Inc. is a biopharmaceutical company focused on developing and commercializing innovative products for women’s health. The company’s portfolio includes therapies aimed at addressing unmet needs in contraception, fertility, and sexual health. Daré’s products are designed to improve options for women by offering novel solutions in areas such as hormone-free contraception and treatments for female sexual disorders. The company is headquartered in San Diego, California, and its shares are listed on the NASDAQ.
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