Homepage

Daré Bioscience, Inc.

DARE NASDAQ Categories PDF
Healthcare · Biotechnology · United States · Updated May 11, 1:55pm
$2.54
Price
$24.1M
Market Cap
21
Employees
1.09
Beta
Sabrina Martucci Johnson
CEO
Business Description

Daré Bioscience, Inc., a clinical-stage biopharmaceutical company, engages in the identifying, developing, and marketing products for women's health in the United States. It develops therapies in the areas of contraception, fertility, and sexual and vaginal health. The company's product includes XACIATO, a single-dose vaginal gel prescription product for the treatment of bacterial vaginosis in female patients 12 years of age and older. Its products in advanced clinical development include Ovaprene, a hormone-free monthly vaginal contraceptive; and Sildenafil Cream, a cream formulation of sildenafil for topical administration to the vulva and vagina for treatment of female sexual arousal disorder. The company's Phase 1-ready products are DARE-HRT1, a combination of bio-identical estradiol and progesterone intravaginal ring for the treatment of vasomotor symptoms in hormone therapy; DARE-VVA1, a vaginally delivered formulation of tamoxifen to treat vulvar and vaginal atrophy in patients with hormone-receptor positive breast cancer; and DARE-FRT1, an intravaginal ring containing bio-identical progesterone for the prevention of preterm birth and broader luteal phase support as part of an in vitro fertilization treatment plan, as well as DARE-PTB1, an intravaginal ring containing bio-identical progesterone for the prevention of preterm birth. Its products in pre-clinical stage include DARE-LARC1, a combination product designed to provide reversible contraception; ADARE-204 and ADARE-214, an injectable formulations of etonogestrel to provide contraception over 6-month and 12-month periods; and DARE-RH1, a non-hormonal contraception for men and women. The company entered into license agreement with Organon & Co. and Organon International GmbH to commercialize XACIATO. Daré Bioscience, Inc. is headquartered in San Diego, California.

Business History
Price Overview
Last updated: May 11, 2026 1:55pm (just now)
$2.54
-0.22 (-7.82%)
Day Range
$2.47 – $2.85
52-Week Range
$1.27 – $9.19
50-Day MA
$1.93
200-Day MA
$1.99
Volume
576,686.67
Analyst Price Targets
Low $12.00
Consensus $12.00
High $12.00
(1 analysts)
Share Structure
Outstanding 9,521,666.00
Float 9,370,042.00
Free Float 98.4%
High free float — 98.4% of shares trade freely, ~1.6% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Small absolute float (9.4M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-2.11
Stock Price: $2.54
EPS (Diluted): -1.20
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
75.90
Stock Price: $2.54
Total Equity: $2.84M
Shares: 111,787,520
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
1,944.55
Market Cap: $24.14M
Total Debt: $5.39M
Cash: $24.71B
EBITDA: -$11.40M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
-$21.8B
Market Cap: $24.14M
Total Debt: $5.39M
Cash: $24.71B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
-137.5%
Gross Profit: -$1.42M
Revenue: $1.03M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-1,315.5%
Operating Income: -$13.55M
Revenue: $1.03M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-1,300.7%
Net Income: -$13.40M
Revenue: $1.03M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
322.9%
Net Income: -$13.40M
Total Equity: $2.84M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-124.5%
Operating Income: -$13.55M
Tax Rate: 0.0%
Equity: $2.84M
Total Debt: $5.39M
Cash: $24.71B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
1.14
Current Assets: $27.06M
Current Liabilities: $23.69M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
1.90
Short-Term Debt: $0.00
Long-Term Debt: $5.39M
Total Debt: $5.39M
Total Equity: $2.84M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$0.01
Revenue: $1.03M
Shares: 111,787,520
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$0.03
Total Equity: $2.84M
Shares: 111,787,520
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$-91.88
Operating CF: -$9.89B
CapEx: -$385.28M
Shares: 111,787,520
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $2.54
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$13.40M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares DARE against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $0 $10.0M $2.8M $9,784 $1.0M
Cost of Revenue $100,000 $30.1M $21.6M $14.3M $2.4M
Gross Profit $-100,000 -$20.1M -$18.8M -$14.3M -$1.4M
Operating Expenses $39.0M $11.2M $12.1M $9.2M $12.1M
Operating Income -$39.1M -$31.4M -$30.9M -$23.5M -$13.6M
Net Income -$38.7M -$30.9M -$30.2M -$4.1M -$13.4M
EBITDA -$39.0M -$31.4M -$30.7M -$23.4M -$11.4M
EPS $-7.52 $-4.39 $-4.15 $-0.48 $-1.20
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $51.7M $34.7M $10.5M $15.7M $24.7B
Total Current Assets $55.3M $43.0M $17.5M $18.4M $27.1M
Total Assets $55.8M $43.8M $21.3M $22.1M $32.5M
Current Liabilities $16.1M $31.6M $20.5M $21.6M $23.7M
Long-Term Debt $0 $0 $0 $0 $5.4M
Total Liabilities $17.1M $32.7M $26.3M $28.1M $29.6M
Total Equity $38.8M $11.1M -$5.0M -$6.0M $2.8M
Retained Earnings -$110.1M -$141.1M -$171.2M -$175.3M -$188.7M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$28.8M -$18.1M -$38.9M $5.4M -$9.9B
Capital Expenditure $-14,524 $-63,069 $-629,430 $-573,046 -$385.3M
Free Cash Flow -$28.8M -$18.2M -$39.5M $4.8M -$10.3B
Acquisitions (net) $0 $0 $0 $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash $47.0M -$17.0M -$23.9M $5.2M $9.0B
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $5.4M
$4.2M – $6.5M
 $41.8M
$32.6M – $51.1M
 $141.3M
$110.0M – $172.6M
 $240.2M
$187.0M – $293.4M
EBITDA -$3.2M
-$3.9M – -$2.5M
 -$25.1M
-$30.7M – -$19.5M
 -$84.8M
-$103.6M – -$66.0M
 -$144.1M
-$176.0M – -$112.2M
Net Income -$66.0M
-$84.9M – -$47.0M
 -$11.2M
-$22.7M – $358,868
 $175.5M
$125.0M – $226.0M
 $365.5M
$260.3M – $470.8M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth — -71.9% -99.7% +10,429.4%
Gross Profit Growth -20,042.2% +6.5% +24.1% +90.1%
Operating Income Growth +19.7% +1.4% +24.2% +42.2%
Net Income Growth +20.0% +2.5% +86.6% -230.6%
EBITDA Growth +19.7% +2.1% +23.8% +51.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-02-18 JOHNSON SABRINA MARTUCCI A-Award 21,600.00 $4.00 $86,400
2026-02-18 JOHNSON SABRINA MARTUCCI A-Award 10,800.00 $2.50 $27,000
2026-01-30 JOHNSON SABRINA MARTUCCI A-Award 172,000.00 $1.81 $311,320
2026-01-30 Haring-Layton MarDee A-Award 49,000.00 $1.81 $88,690
2025-09-04 Haring-Layton MarDee A-Award 57,000.00 $2.13 $121,410
2025-07-09 RASTETTER WILLIAM H A-Award 4,500.00 $2.44 $10,980
2025-07-09 Steele Robin Joan A-Award 4,500.00 $2.44 $10,980
2025-07-09 Matz Gregory W A-Award 4,500.00 $2.44 $10,980
2025-07-09 Grossman Jessica D. A-Award 4,500.00 $2.44 $10,980
2025-07-09 Kelley Susan L. A-Award 4,500.00 $2.44 $10,980
2025-01-28 Haring-Layton MarDee A-Award 38,000.00 $3.27 $124,260
2025-01-28 JOHNSON SABRINA MARTUCCI A-Award 107,000.00 $3.27 $349,890
2024-06-05 Grossman Jessica D. A-Award 40,000.00 $0.43 $17,200
2024-06-05 Steele Robin Joan A-Award 40,000.00 $0.43 $17,200
2024-06-05 RASTETTER WILLIAM H A-Award 40,000.00 $0.43 $17,200
2024-06-05 Kelley Susan L. A-Award 40,000.00 $0.43 $17,200
2024-06-05 Matz Gregory W A-Award 40,000.00 $0.43 $17,200
2024-03-12 Fair John A A-Award 290,000.00 $0.46 $133,400
2024-03-12 JOHNSON SABRINA MARTUCCI A-Award 750,000.00 $0.46 $345,000
2024-03-12 Haring-Layton MarDee A-Award 290,000.00 $0.46 $133,400
Community AI Feedback
Sign in to Contribute
No community reviews yet for DARE. Be the first — export the analysis to your AI and contribute back.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27