Daré Bioscience, Inc. (DARE) Stock Analysis

Why this analysis is different

• A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Daré Bioscience, Inc. (DARE) Healthcare & Pipeline Overview

Daré Bioscience, Inc. is a clinical-stage biopharmaceutical company focused on the women's health sector, developing and commercializing therapies for contraception, fertility, and sexual health. Their portfolio includes XACIATO for bacterial vaginosis and other products in clinical development, positioning them as an innovator in women's healthcare solutions.

What Is the Investment Thesis for DARE?

Daré Bioscience presents a focused investment opportunity within the women's health sector. The company's value drivers include the successful commercialization of XACIATO, potential FDA approvals for Ovaprene and Sildenafil Cream, and advancement of its Phase 1-ready and pre-clinical assets. Revenue growth will depend on market penetration of XACIATO and subsequent product launches. Key catalysts include clinical trial results for Ovaprene and Sildenafil Cream expected in late 2026, and partnership agreements for further development and commercialization. However, the company faces risks related to regulatory approvals, competition, and the need for additional financing. With a market cap of $10.6M and negative profit and gross margins, the company's financial performance is highly dependent on future product successes.

Based on FMP financials and quantitative analysis

DARE Key Highlights

Market capitalization of $10.6M reflects the company's early stage and growth potential in the women's health market.

• Negative profit margin of -1300.7% indicates significant investment in research and development and pre-commercialization expenses.
• Gross margin of -276.2% reflects initial costs associated with product launches and manufacturing agreements.
• Beta of 0.90 suggests the stock is slightly less volatile than the overall market.
• No dividend yield, consistent with a growth-oriented biopharmaceutical company focused on reinvesting earnings into R&D.

Who Are DARE's Competitors?

DARE is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.

What Are DARE's Key Strengths?

Focused pipeline of women's health products.

• Commercialized product (XACIATO) provides revenue stream.
• Strategic partnerships with established pharmaceutical companies.
• Experienced management team with expertise in women's health.

What Are DARE's Weaknesses?

Limited financial resources as a clinical-stage company.

• Dependence on regulatory approvals for pipeline products.
• Negative profit and gross margins.
• Small number of employees.

What Could Drive DARE Stock Higher?

Clinical trial results for Ovaprene expected in late 2026.

• Clinical trial results for Sildenafil Cream expected in late 2026.
• Expansion of XACIATO market share through strategic marketing and distribution.
• Advancement of Phase 1-ready products through clinical development.
• Potential new partnerships and licensing agreements.

What Are the Key Risks for DARE?

Financial-distress signal — its Altman Z-Score of -13.44 sits in the distress zone (elevated bankruptcy risk).

• Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
• Regulatory setbacks or delays in FDA approvals.
• Competition from established pharmaceutical companies.
• Patent expirations.
• Need for additional financing to support clinical development and commercialization.
• Dependence on strategic partners for commercial success.

What Are the Growth Opportunities for DARE?

• Expansion of XACIATO Market Share: Daré Bioscience has the opportunity to increase the market share of XACIATO for bacterial vaginosis through strategic marketing and distribution partnerships. The bacterial vaginosis treatment market is estimated at $748 million in 2023 and is projected to reach $923.8 million by 2033, growing at a CAGR of 2.1%. Effective promotion and physician education could drive adoption of XACIATO, leading to increased revenue and profitability. Timeline: Ongoing.
• Ovaprene Approval and Launch: Ovaprene, a hormone-free monthly vaginal contraceptive, represents a significant growth opportunity. The global contraceptive market is projected to reach $24.6 billion by 2027. If approved, Ovaprene could capture a substantial share of the non-hormonal contraceptive segment. Successful completion of clinical trials and FDA approval are critical milestones. Timeline: Anticipated regulatory submission in 2027, potential launch in 2028.
• Sildenafil Cream Commercialization: Sildenafil Cream for female sexual arousal disorder (FSAD) offers another avenue for growth. The FSAD market is estimated at $2.5 billion. Positive clinical trial results and subsequent FDA approval could position Sildenafil Cream as a leading treatment option. Strategic partnerships for commercialization will be essential. Timeline: Potential regulatory submission in 2027, launch in 2028.
• Advancement of Phase 1-Ready Assets: Daré's Phase 1-ready products, including DARE-HRT1, DARE-VVA1, DARE-FRT1, and DARE-PTB1, represent future growth potential. Each product targets specific unmet needs in women's health, such as vasomotor symptoms, vulvar and vaginal atrophy, and preterm birth prevention. Successful completion of Phase 1 trials and subsequent clinical development could lead to new product launches. Timeline: Phase 1 trials ongoing through 2027, potential product launches starting in 2029.
• Strategic Partnerships and Licensing Agreements: Daré Bioscience can leverage strategic partnerships and licensing agreements to expand its product portfolio and market reach. Collaborations with larger pharmaceutical companies or specialized women's health companies can provide access to additional resources and expertise. The licensing agreement with Organon for XACIATO demonstrates the potential for value creation through partnerships. Timeline: Ongoing.

What Are DARE's Competitive Advantages?

• Proprietary formulations and drug delivery technologies.
• Patent protection for key products and technologies.
• Focus on underserved areas within women's health.
• Established partnerships with major pharmaceutical companies.

What Does DARE Do?

Daré Bioscience, Inc., founded with the mission to address unmet needs in women's health, is a clinical-stage biopharmaceutical company dedicated to identifying, developing, and marketing innovative products. The company's focus spans contraception, fertility, and sexual and vaginal health, areas often underserved by traditional pharmaceutical companies. Daré's initial product, XACIATO, a single-dose vaginal gel for bacterial vaginosis, is already on the market through a license agreement with Organon & Co. and Organon International GmbH. Beyond XACIATO, Daré's pipeline includes Ovaprene, a hormone-free monthly vaginal contraceptive in advanced clinical development, and Sildenafil Cream, a topical formulation for female sexual arousal disorder. The company also has several Phase 1-ready products, such as DARE-HRT1 for vasomotor symptoms, DARE-VVA1 for vulvar and vaginal atrophy, and DARE-FRT1 and DARE-PTB1 for preterm birth prevention and luteal phase support. Pre-clinical programs include DARE-LARC1 for reversible contraception, ADARE-204 and ADARE-214 for long-acting injectable contraception, and DARE-RH1 for non-hormonal contraception. Headquartered in San Diego, California, Daré Bioscience operates primarily in the United States, partnering with established companies to expand its commercial reach.

What Products and Services Does DARE Offer?

• Develops therapies for contraception, fertility, and sexual and vaginal health.
• Markets XACIATO, a single-dose vaginal gel for bacterial vaginosis.
• Advances Ovaprene, a hormone-free monthly vaginal contraceptive, through clinical trials.
• Develops Sildenafil Cream for topical administration to treat female sexual arousal disorder.
• Creates intravaginal rings for hormone therapy and preterm birth prevention.
• Researches non-hormonal contraception options for both men and women.

How Does DARE Make Money?

• Develops and out-licenses women's health products.
• Generates revenue through product sales (XACIATO) and potential milestone payments from partners.
• Focuses on clinical development and regulatory approval of its pipeline products.
• Partners with larger pharmaceutical companies for commercialization and distribution.

What Industry Does DARE Operate In?

The biotechnology industry is characterized by high innovation, long development cycles, and significant regulatory hurdles. The women's health segment represents a growing market driven by increasing awareness and demand for specialized treatments. Daré Bioscience operates in a competitive landscape that includes established pharmaceutical companies and smaller biotech firms. The company's focus on underserved areas within women's health, such as hormone-free contraception and female sexual dysfunction, positions it to capture niche markets. The global women's health market is projected to reach $51.4 billion by 2027, growing at a CAGR of 4.2% from 2020.

Who Are DARE's Key Customers?

• Women seeking treatments for bacterial vaginosis.
• Women seeking contraception options.
• Women seeking treatments for female sexual arousal disorder.
• Healthcare providers specializing in women's health.

Company Profile

Daré Bioscience, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in San Diego, US. The company is led by CEO Sabrina Martucci Johnson. DARE has traded publicly since 2014.

Key Financial Metrics

Return on assets is -43.2%, showing how much profit it generates from its asset base. Its free cash flow yield is -55.6%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.03 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -43.1%, the inverse of the P/E and a quick read on earnings relative to price.

DARE Valuation & Market Position

With a $10.6M market cap, Daré Bioscience, Inc. sits in the micro-cap segment of the market. Relative to its peer group, DARE's quantitative score of 18/100 is below the peer average of 75/100.

Quarterly Financial Performance: Daré Bioscience, Inc.

Revenue for Daré Bioscience, Inc. came in at $188K during Q2 FY2026, a 23.0% improvement versus the preceding quarter. The company recorded a net loss of $3.0M, with diluted EPS of $-0.20. Quarter-over-quarter revenue has been mixed, typical for a micro-cap company operating in Healthcare. Across the four most recent quarters, DARE averaged $-0.20 in diluted EPS.

Daré Bioscience, Inc.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -13.44 places it in the distress zone, a signal of elevated financial risk.

Daré Bioscience, Inc. has beaten Wall Street's EPS estimate in 8 of its last 8 reported quarters — a consistent record of delivering on expectations. Reported results have landed about 28.6% above estimates on average.

Over the past six months, Daré Bioscience, Inc. insiders filed 10 SEC Form 4 transactions — 0 sales and 10 purchases. On net that is roughly 196K shares acquired (about $101K) — insiders putting money in tends to read as conviction.

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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