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SAN DIEGO - Daré Bioscience, Inc. (NASDAQ: DARE), a biopharmaceutical company focusing on women’s health with a market capitalization of $27.84 million, has announced a co-development and licensing agreement with Theramex, a global specialty pharmaceutical company dedicated to women’s health. According to InvestingPro data, while the company maintains more cash than debt on its balance sheet, it’s currently experiencing rapid cash burn, a critical factor for investors monitoring this development. The partnership centers on the development of a potential first-in-category biodegradable contraceptive implant, Casea S, which Theramex recently acquired.
Casea S is designed to release a contraceptive over 18-24 months before dissolving, eliminating the need for surgical removal and potentially offering a more convenient option for women. The Phase 1 study, sponsored by FHI (TSX:FHI) 360 with support from a foundation grant, is examining the pharmacokinetics, safety, and tolerability of the implant.
Daré has obtained an exclusive, royalty-free license to the US patents for Casea S, adding to their portfolio of women’s health innovations. The ongoing Phase 1 trial is externally funded, meaning no current development costs for Daré or Theramex. Future development costs, including Phase II and III studies, are expected to be shared by both parties, contingent on positive Phase 1 results.
The agreement with Theramex underscores Daré’s commitment to advancing first-in-category product candidates, leveraging non-dilutive funding to fuel their development pipeline. This strategy is particularly important given that InvestingPro analysis shows the company achieved impressive revenue growth of 88.13% in the last twelve months, though analysts anticipate a sales decline in the current year. Daré’s CEO, Sabrina Martucci Johnson, expressed enthusiasm about the collaboration with Theramex and the external validation of the technology. For deeper insights into Daré’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.
Rob Stewart, CEO of Theramex, highlighted the potential of Casea S to align with women’s preferences for a long-acting, reversible contraceptive method that can be decided upon every 18-24 months, emphasizing control over reproductive health.
Daré Bioscience’s portfolio includes FDA-approved and clinical-stage candidates addressing contraception, sexual health, pelvic pain, fertility, infectious diseases, and menopause. Trading at $3.16 per share, with analyst targets suggesting potential upside, the company has been recognized for its influence in women’s health and was named the top small company in the San Diego Business Journal’s 2023 Best Places to Work Awards. While the company currently shows weak gross profit margins, its innovative pipeline and strategic partnerships could present opportunities for long-term growth.
The partnership between Daré and Theramex demonstrates a shared vision for innovation in women’s healthcare, focusing on developing solutions that address unmet needs in contraception. This article is based on a press release statement from Daré Bioscience, Inc.
In other recent news, Daré Bioscience has been notified by Nasdaq about a potential delisting due to not meeting the minimum market value requirement of $35 million. The company plans to request a hearing to delay the delisting process, although there is no assurance of a favorable outcome. Additionally, Daré Bioscience has secured up to $2 million in grant funding from the National Institute of Allergy and Infectious Diseases for the development of DARE-HPV, a treatment for HPV-related cervical disease. This funding supplements a previous award of up to $10 million for clinical study activities.
In partnership with Strategic Science & Technologies, Daré Bioscience is set to initiate a Phase 3 clinical trial for Sildenafil Cream, 3.6%, intended to treat Female Sexual Arousal Disorder. The trial is expected to begin in mid-2025 following FDA feedback. Moreover, the company has received $2.5 million under a grant agreement for the development of its contraceptive technology, DARE-LARC1, bringing the total funding for this project to approximately $31.8 million. These developments reflect Daré Bioscience’s ongoing efforts to advance innovative products in women’s health.
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