Tue, May 14, 8:04 PM (73 days ago)
Daré Bioscience, Inc. reported a net loss of $6.76 million for the quarter ended March 31, 2024, an improvement from the $8.04 million loss in the same period in 2023. Revenue was $9,302, generated from royalties related to XACIATO. Operating expenses decreased by 28% to $6.03 million, driven by reductions in general and administrative costs and research and development expenses. The company has a cash balance of $3.6 million and a working capital deficit of $7.7 million, raising substantial doubt about its ability to continue as a going concern without additional capital. Recent funding includes $22 million from XOMA under royalty purchase agreements and $1 million from the Bill & Melinda Gates Foundation for DARE-LARC1 development. Future funding needs remain significant, particularly for advancing clinical trials of Ovaprene and Sildenafil Cream.