Dare Bioscience (NASDAQ:DARE) Releases Earnings Results, Beats Expectations By $0.10 EPS

Dare Bioscience (NASDAQ:DARE) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.20) earnings per share for the quarter, topping 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 Bioscience stock traded down $0.07 during midday trading on Thursday, hitting $1.37. The company’s stock had a trading volume of 1,244,744 shares, compared to its average volume of 194,892. The firm has a market capitalization of $20.66 million, a P/E ratio of -1.44 and a beta of 1.08. The stock has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $1.88. Dare Bioscience has a 1-year low of $1.13 and a 1-year high of $3.78.

Institutional Investors Weigh In On Dare Bioscience

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Dare Bioscience during the 3rd quarter worth about $37,000. Raymond James Financial Inc. grew its stake in 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 acquiring an additional 13,650 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Dare Bioscience in the 4th quarter valued at about $28,000. 6.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.