Dare Bioscience, Inc. DARE
We are a purpose-driven health biotech company solely focused on closing the gap in women's health between promising science and real-world solutions. Every innovation we advance is based in advanced science and backed by rigorous, peer-reviewed research. From contraception to menopause, pelvic pain to fertility, vaginal health to infectious disease, we're working to close critical gaps in care using science that serves her needs.
For decades, women have been told to "wait it out" or "live with it," while innovations that could improve their quality of life languish in the regulatory or funding pipeline.
With growing awareness around menopause, sexual health, and vaginal health, the conversation is shifting. However, access to real, evidence-based solutions continues to lag. Daré was founded to change that. As a female-led health biotech company, we are accelerating the development of credible, science-based solutions that meet the
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0M | $9.8K | $2.8M | $10.0M | $0 | — | — | — | — | $766.0K |
| Cost of revenue | $295.8K | $0 | — | — | — | — | — | — | — | — |
| Gross profit | $734.4K | $9.8K | — | — | — | — | — | — | — | — |
| R&D | $5.5M | $14.3M | $21.5M | $30.0M | $30.6M | $20.8M | $8.5M | $6.4M | $984.7K | $72.7K |
| SG&A | $8.8M | $9.2M | $12.1M | $11.2M | $8.4M | $6.5M | $5.3M | $4.7M | $2.7M | $157.9K |
| Total operating expenses | $14.3M | $23.5M | $33.7M | $41.4M | $39.1M | $27.4M | $14.3M | $16.9M | $11.2M | $630.6K |
| Operating income | -$13.6M | -$23.5M | -$30.9M | -$31.4M | -$39.1M | -$27.4M | -$14.3M | -$16.9M | -$11.2M | -$630.6K |
| Interest expense | — | — | — | — | — | — | — | — | $322.6K | $42.1K |
| Pre-tax income | -$13.5M | -$4.1M | -$30.2M | -$30.9M | -$38.7M | -$27.4M | -$14.3M | -$16.8M | -$11.5M | -$673.0K |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.2K | $0 | — |
| Net income | -$13.4M | -$4.0M | -$30.2M | -$30.9M | -$38.7M | -$27.4M | -$14.3M | -$16.7M | -$11.5M | -$672.7K |
| EPS, basic | -1.20 | -0.48 | -4.15 | -0.37 | -0.63 | -0.91 | — | — | — | — |
| EPS, diluted | -1.20 | -0.48 | -4.15 | -0.37 | -0.63 | -0.91 | -0.97 | -1.57 | 3.56 | -0.81 |
| Shares, diluted (wtd. avg.) | 11.2M | 8.5M | 7.3M | 84.6M | 61.2M | 30.1M | — | — | 3.2M | 835,000 |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $24.7M | $15.7M | $10.8M | $34.7M | $51.7M | $4.7M | $4.8M | $6.8M | $7.6M | $44.6K |
| Total current assets | $27.1M | $18.4M | $17.5M | $43.0M | $55.3M | $7.0M | $6.4M | $7.2M | $8.3M | $44.6K |
| Property, plant and equipment | $1.6M | $1.3M | $656.0K | $64.9K | $26.0K | $37.9K | $63.5K | $9.4K | $0 | $668.0K |
| Goodwill | — | — | — | — | — | — | — | $0 | $12.7M | — |
| Total assets | $32.5M | $22.1M | $21.3M | $43.8M | $55.8M | $7.6M | $7.4M | $7.8M | $14.3M | $44.6K |
| Accounts payable | $1.2M | $1.5M | $3.4M | $2.0M | $2.1M | $1.0M | $1.1M | $459.7K | $308.2K | $12.7K |
| Total current liabilities | $23.7M | $21.6M | $20.5M | $31.6M | $16.1M | $7.7M | $5.6M | $1.1M | $966.7K | $755.2K |
| Total liabilities | $29.6M | $28.1M | $26.3M | $32.7M | $17.1M | $8.7M | $7.0M | $1.1M | $967.0K | $755.2K |
| Retained earnings | -$188.7M | -$175.3M | -$171.2M | -$141.1M | -$110.1M | -$71.4M | -$44.0M | -$29.0M | -$12.2M | -$727.8K |
| Total equity | $2.8M | -$6.0M | -$5.0M | $11.1M | $38.8M | -$1.2M | $440.8K | $6.7M | $13.3M | -$710.6K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.9M | $5.5M | -$38.9M | -$18.1M | -$28.8M | -$25.2M | -$13.3M | -$10.3M | -$2.5M | -$372.3K |
| Depreciation and amortisation | $1.6M | $42.3K | $38.4K | $24.2K | $26.4K | $43.2K | $11.1K | $2.4K | $0 | $261.0K |
| Stock-based compensation | $1.5M | $2.2M | $2.5M | $2.2M | $1.6M | $742.0K | $462.2K | $139.3K | $15.8K | $9.0K |
| Capital expenditure | $385.3K | $573.0K | $629.4K | $63.1K | $14.5K | $17.6K | $0 | $11.8K | $0 | $535.0K |
| Investing cash flow | -$385.3K | -$573.0K | -$629.4K | -$63.1K | -$14.5K | -$17.6K | $6.1M | -$518.8K | $9.9M | $0 |
| Financing cash flow | $19.3M | $354.5K | $15.6M | $1.3M | $75.8M | $25.1M | $5.2M | $10.1M | $155.0K | $197.5K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001401914-26-000014.
Plot the figures US dollars
- Total current assets
- Inventory
- Buybacks
- Total current liabilities
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | $44.6K | $8.3M | $7.2M | $6.4M | $7.0M | $55.3M | $43.0M | $17.5M | $18.4M | $27.1M |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Buybacks | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $755.2K | $966.7K | $1.1M | $5.6M | $7.7M | $16.1M | $31.6M | $20.5M | $21.6M | $23.7M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Unregistered share sale Item 3.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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| PFE | PFIZER INC | $162.16B | 20.9x | -1.6% |