Dare Bioscience (NASDAQ:DARE) Issues Quarterly Earnings Results

Dare Bioscience (NASDAQ:DARE) announced its earnings results on Thursday. The biotechnology company reported ($0.20) earnings per share (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 Trading Down 4.9%

Dare Bioscience stock traded down $0.07 during midday trading on Thursday, hitting $1.37. 1,244,744 shares of the stock were exchanged, compared to its average volume of 194,892. The stock’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $1.88. Dare Bioscience has a fifty-two week low of $1.13 and a fifty-two week high of $3.78. The stock has a market capitalization of $20.66 million, a price-to-earnings ratio of -1.44 and a beta of 1.08.

Analysts Set New Price Targets

Several research firms recently weighed in on DARE. Wall Street Zen upgraded shares of Dare Bioscience to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Dare Bioscience

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience during the 3rd quarter worth approximately $37,000. Raymond James Financial Inc. raised its position in shares of Dare Bioscience by 810.6% during the 3rd 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 during the period. Finally, LPL Financial LLC acquired a new position in Dare Bioscience in the fourth quarter valued at approximately $28,000. 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.