Dare Bioscience (NASDAQ:DARE) Announces Earnings Results

Dare Bioscience (NASDAQ:DARE) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.10, Zacks reports.

Here are the key takeaways from Dare Bioscience’s conference call:

• Commercialization has begun with Flora Sync LF5 launched in June and DARE to PLAY sildenafil cream expected to begin prescription dispensing in the third quarter, creating initial product revenue opportunities.
• Daré is building a multi-product commercial platform through its DARE Health Hub, provider relationships, telehealth partnerships, and digital marketing, with management targeting stronger, more efficient growth in 2027 and beyond.
• The pipeline advanced, including positive interim safety results for the pivotal Ovaprene contraceptive study, initiation of a phase II DARE-HPV trial, and an additional $1 million NIAID funding award that brings total DARE-HPV project funding to $2 million.
• Financial resources remain limited, with approximately $12.6 million in cash, a $0.2 million working-capital deficit, and only about $0.2 million in second-quarter revenue; Flora Sync sales were not reflected until July.
• Although the FDA approved an Ovaprene protocol amendment removing the requirement for 250 completers, it strongly recommended maintaining that target and indicated it may be necessary to adequately characterize safety, creating potential regulatory and timeline risk.

Dare Bioscience Stock Down 4.9%

Shares of DARE stock traded down $0.07 during mid-day trading on Thursday, hitting $1.37. 1,244,744 shares of the stock were exchanged, compared to its average volume of 194,892. The firm has a fifty day moving average of $1.76 and a 200 day moving average of $1.88. Dare Bioscience has a 52-week low of $1.13 and a 52-week high of $3.78. The company has a market cap of $20.66 million, a PE ratio of -1.44 and a beta of 1.08.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a research report on Friday, July 17th. Wall Street Zen raised Dare Bioscience to a “hold” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dare Bioscience has an average rating of “Hold” and an average target price of $10.00.

Hedge Funds Weigh In On Dare Bioscience

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in shares of Dare Bioscience by 810.6% in the third quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 13,650 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Dare Bioscience during the 4th quarter valued at approximately $28,000. Finally, Virtu Financial LLC purchased a new position in shares of Dare Bioscience during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 6.70% of the company’s stock.

About Dare Bioscience

Dare Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for women’s reproductive health. The company’s flagship development candidate is Ovaprene, a monthly, self-administered, non-hormonal contraceptive vaginal ring designed to offer an alternative to traditional hormone-based birth control methods. Through its proprietary intravaginal drug delivery platform, Dare seeks to address unmet medical needs in gynecology and contraception with products that prioritize efficacy, safety and ease of use.

In addition to its lead contraceptive program, Dare is advancing a pipeline of early-stage assets aimed at treating gynecologic conditions through local, non-systemic drug delivery.