Dare Bioscience granted extension by Nasdaq to regain compliance

SAN DIEGO, CA - Daré Bioscience, Inc. (NASDAQ:DARE), a biopharmaceutical company with a market capitalization of $25.71 million and currently trading at $2.94, has been granted an extension until August 12, 2025, by the Nasdaq Hearings Panel to meet the exchange’s continued listing requirements. According to InvestingPro data, the company holds more cash than debt on its balance sheet, though its current ratio of 0.85 indicates some liquidity challenges. This decision comes as a response to the company’s non-compliance with the Nasdaq Listing Rule 5550(b), which pertains to maintaining a minimum stockholders’ equity or market value of listed securities.

The company, which has been out of compliance since August 2024, presented a multi-step plan on March 25, 2025, to address the issue. The plan includes capital raising activities aimed at boosting stockholders’ equity beyond the minimum $2.5 million required by the Stockholders’ Equity Rule. Daré Bioscience is actively pursuing initiatives to execute the plan, with a target to improve stockholders’ equity by April 30, 2025, and further by July 15, 2025.

The extension is contingent upon Daré demonstrating progress in executing against its plan and meeting specific milestones. The company must publicly disclose transactions intended to increase stockholders’ equity and provide updates on fundraising plans and income projections for the following 12 months by the August deadline.

While Daré Bioscience is committed to meeting the conditions set by the Panel, there is no guarantee of success. Failure to execute the plan satisfactorily may result in the Panel taking action to delist the company’s common stock after April 30, 2025, despite the conditional extension to August 12, 2025. The Panel also retains the right to reassess the terms of the extension based on any circumstances that may arise.

Investors are advised to consider the risk factors outlined in Daré’s annual report on Form 10-K filed with the SEC on March 31, 2025, including the potential impact of delisting on the company’s ability to raise capital and the market price of its common stock. InvestingPro data shows analysts have set price targets between $12 and $15, though they anticipate sales decline and continued unprofitability this year. The stock has experienced a significant decline, with a -50.03% return over the past year, while maintaining relatively low price volatility. This news is based on a press release statement and contains forward-looking statements subject to risks and uncertainties.

Daré Bioscience’s President and CEO, Sabrina Martucci Johnson, signed off on the report dated today, affirming the company’s commitment to regaining compliance with Nasdaq’s listing requirements.

In other recent news, Dare Bioscience reported its financial results for the fiscal year 2024, highlighting a comprehensive loss of $4.5 million. Despite this, the company managed to reduce general and administrative expenses by 24% and research and development expenses by 34% compared to the previous year. Dare Bioscience also secured $22 million from a royalty monetization transaction and additional non-dilutive funding awards totaling up to $20.7 million. The company launched Xociado, a new vaginal gel product, and maintains a strategic focus on women’s health innovations. Dare Bioscience is advancing its Sildenafil Cream through the 503B compounding pathway, targeting availability by prescription in the fourth quarter of 2025. The company also faces recruitment challenges in its Ovaprene Phase III study but is preparing for Phase II trials of DARE VVA1 and advancing DARE HPV development with a $10 million award. Recent developments include the company’s ongoing commitment to leveraging existing pharmaceutical ingredients and exploring multiple pathways to market its innovative products.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.