Dare Bioscience Enters Material Agreement, Faces Financial Obligation
Ticker: DARE · Form: 8-K · Filed: Apr 30, 2024 · CIK: 1401914
Sentiment: neutral
Topics: material-agreement, acquisition-disposition, financial-obligation
TL;DR
Dare Bioscience just signed a big deal, but it comes with a new financial obligation. Watch this space.
AI Summary
On April 29, 2024, Dare Bioscience, Inc. entered into a material definitive agreement related to the completion of an acquisition or disposition of assets. This also resulted in the creation of a direct financial obligation for the registrant. The company, formerly known as Cerulean Pharma Inc. and Tempo Pharmaceuticals Inc., is based in San Diego, CA.
Why It Matters
This filing indicates a significant corporate event for Dare Bioscience, potentially involving asset changes and new financial commitments that could impact its future operations and financial health.
Risk Assessment
Risk Level: medium — The creation of a direct financial obligation and the completion of an acquisition/disposition suggest potential financial risks and strategic shifts for the company.
Key Players & Entities
- Dare Bioscience, Inc. (company) — Registrant
- Cerulean Pharma Inc. (company) — Former Company Name
- Tempo Pharmaceuticals Inc (company) — Former Company Name
- April 29, 2024 (date) — Date of earliest event reported
FAQ
What specific material definitive agreement did Dare Bioscience, Inc. enter into?
The filing states that Dare Bioscience, Inc. entered into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What type of acquisition or disposition of assets was completed?
The filing indicates the completion of an acquisition or disposition of assets, but the nature and details of these transactions are not specified in the provided text.
What is the nature of the direct financial obligation created for Dare Bioscience, Inc.?
The filing confirms the creation of a direct financial obligation for the registrant, but the specific terms and amount of this obligation are not detailed in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on April 29, 2024.
What were Dare Bioscience, Inc.'s former company names?
Dare Bioscience, Inc. was formerly known as Cerulean Pharma Inc. (name change on July 14, 2009) and Tempo Pharmaceuticals Inc (name change on June 4, 2007).
Filing Stats: 1,357 words · 5 min read · ~5 pages · Grade level 12.2 · Accepted 2024-04-30 07:45:36
Key Financial Figures
- $22.0 million — greements, on April 29, 2024, XOMA paid $22.0 million to Dar and, in addition, if XOMA receiv
- $88.0 m — below) equal to an amount that exceeds $88.0 million, XOMA will pay $11.0 million to D
- $11.0 million — at exceeds $88.0 million, XOMA will pay $11.0 million to Dar for each successive $22.0 millio
- $20.0 million — es"); (b) 25% of the potential future $20.0 million payment that Dar would otherwise have t
- $110.0 m — to Dar, equal to an amount that exceeds $110.0 million, the foregoing percentages will b
Filing Documents
- form8-k.htm (8-K) — 50KB
- ex99-1.htm (EX-99.1) — 28KB
- 0001493152-24-017147.txt ( ) — 259KB
- dare-20240429.xsd (EX-101.SCH) — 3KB
- dare-20240429_lab.xml (EX-101.LAB) — 33KB
- dare-20240429_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DAR BIOSCIENCE, INC. Dated: April 30, 2024 By: /s/ Sabrina Martucci Johnson Name: Sabrina Martucci Johnson Title: President and Chief Executive Officer -4-