Dare Bioscience Files Q2 2024 10-Q Report

Ticker: DARE · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1401914

Sentiment: neutral

Topics: 10-Q, SEC filing, quarterly report

Related Tickers: DARE

TL;DR

**DARE Q2 10-Q FILED: All systems go on reporting requirements.**

AI Summary

Dare Bioscience, Inc. filed its quarterly report for the period ended June 30, 2024. The company is incorporated in Delaware and its principal executive offices are located at 3655 Nobel Drive, Suite 260, San Diego, CA 92122. Its common stock is traded on the Nasdaq Capital Market under the symbol DARE. The filing indicates that Dare Bioscience has met its filing requirements for the preceding 12 months and the past 90 days.

Why It Matters

This filing provides investors with an update on Dare Bioscience's financial and operational status for the second quarter of 2024, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Dare Bioscience is subject to market fluctuations and regulatory requirements, making its risk level medium.

Key Players & Entities

FAQ

What is the commission file number for Dare Bioscience, Inc.?

The commission file number for Dare Bioscience, Inc. is 001-36395.

On which exchange is Dare Bioscience's common stock traded?

Dare Bioscience's common stock is traded on the Nasdaq Capital Market.

What is the IRS Employer Identification Number for Dare Bioscience?

The IRS Employer Identification Number for Dare Bioscience is 20-4139823.

Has Dare Bioscience filed all required reports for the preceding 12 months?

Yes, the filing indicates that Dare Bioscience has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has Dare Bioscience submitted electronically every Interactive Data File required?

Yes, the filing indicates that Dare Bioscience has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,464 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2024-08-12 16:05:47

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 43

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Dar Bioscience, Inc. and Subsidiaries Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 (unaudited) Assets Current assets Cash and cash equivalents $ 16,414,992 $ 10,476,056 Other receivables 902,174 949,211 Prepaid expenses 3,512,289 6,118,272 Total current assets 20,829,455 17,543,539 Property and equipment, net 322,283 655,975 Deposits 480,107 1,163,477 Operating lease right-of-use assets 1,445,823 1,319,630 Other non-current assets 528,571 599,594 Total assets $ 23,606,239 $ 21,282,215 Liabilities and stockholders' equity (deficit) Current liabilities Accounts payable $ 1,909,760 $ 3,385,551 Accrued expenses 1,254,358 2,889,005 Deferred grant funding 10,937,663 13,737,154 Current portion of lease liabilities 488,152 468,726 Total current liabilities 14,589,933 20,480,436 Deferred revenue, non-current 1,000,000 1,000,000 Liability related to the sale of future royalties, net 4,308,117 3,913,676 Lease liabilities long-term 1,036,683 935,743 Total liabilities 20,934,733 26,329,855 Commitments and contingencies (Note 9) Stockholders' equity (deficit) Preferred stock, $ 0.01 par value, 5,000,000 shares authorized; None issued and outstanding — — Common stock, $ 0.0001 par value; 240,000,000 shares authorized; 8,546,361 and 8,331,161 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 854 833 Accumulated other comprehensive loss ( 385,560 ) ( 360,896 ) Additional paid-in capital 168,136,943 166,548,454 Accumulated deficit ( 165,080,731 ) ( 171,236,031 ) Total stockholders' equity (deficit) 2,671,506 ( 5,047,640 ) Total liabilities and stockholders' equity (deficit) $ 23,606,239 $ 21,282,215 See accompanying notes. 1 Dar Bioscience , Inc . and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) ( Unaudited ) Three months ended June 30, Six months ended June 30, 2024

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