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SAN DIEGO - Dare Bioscience, Inc. (NASDAQ: DARE), a biopharmaceutical company focused on women’s health, has been awarded a Notice of Award of a grant from the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). The grant is intended to support the non-clinical development of DARE-HPV, a potential treatment for human papillomavirus (HPV)-related cervical disease. With a current market capitalization of $26.19 million, InvestingPro data shows the company maintains a positive cash position relative to its debt, though it faces challenges with cash burn rates.
The announcement made today indicates that Dare Bioscience could receive up to $2 million in grant funding, which would bring the total non-dilutive funding for the development of DARE-HPV to as much as $12 million. The NIAID funding supplements a previous award of up to $10 million announced in October 2024 for supporting investigational new drug (IND) and Phase 2 clinical study activities.
DARE-HPV is an investigational treatment that has the potential to be the first FDA-approved pharmaceutical intervention for both late-stage cervical lesions and earlier stage HPV-related cervical infections. The treatment aims to provide an alternative to surgery, which is currently the most common treatment for late-stage cervical precancers but carries risks such as preterm birth and sexual dysfunction. According to InvestingPro’s financial health assessment, Dare maintains a FAIR overall financial health score, with detailed metrics and additional ProTips available for subscribers.
The grant awarded for the 2025 project year amounts to $1 million, with an additional $1 million recommended for a subsequent project year, contingent on the availability of funds and satisfactory progress as determined by NIAID.
HPV is the most common sexually transmitted infection in the United States and is responsible for nearly all cases of cervical cancer globally. Despite advances in screening and vaccination, cervical cancer continues to be a significant health issue, with an estimated 100,000 women treated for cervical precancer and approximately 4,000 deaths from cervical cancer in the U.S. each year.
Dare Bioscience is committed to advancing innovative products for women’s health, with a diverse portfolio of differentiated therapies. The company’s mission focuses on expanding treatment options and improving outcomes in areas such as contraception, sexual health, pelvic pain, fertility, infectious diseases, and menopause. While currently trading at $3.01, analyst price targets range from $12 to $39, suggesting significant potential upside according to InvestingPro’s comprehensive analysis, which includes detailed financial metrics and growth projections available in the Pro Research Report.
The details of this press release are based on a press release statement from Dare Bioscience, Inc. and do not necessarily represent the official views of the National Institutes of Health.
In other recent news, Daré Bioscience, Inc. has made significant strides in the women’s health sector. The company plans to initiate a Phase 3 clinical trial for Sildenafil Cream, a possible first-of-its-kind treatment for Female Sexual Arousal Disorder (FSAD). The trial, which is anticipated to start in mid-2025, will focus on the safety and efficacy of the cream in premenopausal women.
Another recent development is the receipt of a $2.5 million payment to further develop the company’s contraceptive technology, DARE-LARC1. This funding is part of a larger grant potentially totaling $49 million, aimed at advancing a long-acting, reversible contraceptive with unique features such as precision dosing and wireless control.
In financial news, Daré Bioscience reported third-quarter results, revealing a comprehensive loss of $4.7 million but a healthy cash position of $11.2 million. The company also secured over $20 million in non-dilutive funding, which will be used to develop key products. These recent developments showcase Daré Bioscience’s commitment to advancing innovative products for women’s health.
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