Dare Bioscience, Inc.DARE

Daré Bioscience Inc. filed its latest 10-Q on 29 May 2026, covering the quarter ended 31 March 2026, and the numbers are thin: revenue of $152,455 and a net loss of $3.0M, with just $734,451 of shareholders’ equity and $27.1M in liabilities.

The company’s product slate-DARE to PLAY™ sildenafil cream and Flora Sync LF5 probiotic-sits on a direct-to-consumer “DARE Health Hub,” where customers can track orders and read clinical citations such as Krog et al. (Human Reproduction, 2022) to justify microbiome balance claims.

For the quarter ending 31 March 2026, Dare Bioscience reported: revenue of $152,455; net loss attributable to parent of $3.0M; operating loss of $3.0M; assets of $27.8M; liabilities of $27.1M; shareholders’ equity of $734,451; cash and cash equivalents of $18.5M; net cash used in operating activities of $5.5M; research and development expense of $660,462; diluted loss per share of $0.21; and weighted average diluted shares outstanding of 14.5M (source: 10-Q, period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/1401914/000140191426000037/rdar-20260331.htm).

The company’s capital structure is dominated by a $10M registered direct offering priced at $1.35 per share and documented in a 253G2 registration statement filed on 17 July 2026, with proceeds earmarked for “working capital and general corporate purposes,” language that rarely precedes a growth equity round (source: 253G2 registration statement, 2026-07-17, https://www.sec.gov/Archives/edgar/data/1401914/000140191426000041/a253g2regaofferingcircular.htm).

Daré’s product pages feature DARE to PLAY™ sildenafil cream and Flora Sync LF5 probiotic, with the latter citing research that more than half of healthy women show low Lactobacillus during menstruation, though the citation is presented as marketing copy rather than a standalone scientific exhibit (source: Flora Sync LF5 product page, https://darebioscience.com/products/daretorestore/florasynclf5/).

On 24 July 2026, Dare Bioscience filed an 8-K confirming the pricing of the $10M registered direct offering and disclosing that the net proceeds will be used for working capital and general corporate purposes; the same 8-K also disclosed that shares issued in the offering are not being registered under the Securities Act, which is the sort of structure that tends to focus minds when the cash balance is $18.5M and the quarterly burn is $5.5M (source: 8-K, 2026-07-24, https://www.sec.gov/Archives/edgar/data/1401914/000149315226034483/form8-k.htm).

For those tracking the company’s clinical pipeline beyond retail probiotics and arousal cream, Dare Bioscience maintains a page listing programmes across contraception, menopause, vaginal health, and infectious disease, but the 10-Q does not break out revenue or expense by segment, leaving investors to infer contribution rather than measure it (source: Women’s Health Clinical Pipeline, https://www.darebioscience.com/pipeline/).