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Dare Bioscience, Inc. (NASDAQ:DARE) reported the results of its 2025 annual meeting of stockholders, which was reconvened Wednesday after an earlier adjournment due to lack of quorum. The information is based on a press release statement included in the company’s SEC filing.
At the meeting, shareholders elected Gregory W. Matz, CPA, William H. Rastetter, Ph.D., and Robin J. Steele, J.D., L.L.M. as Class II directors. Each will serve until the 2028 annual meeting or until their successors are duly elected and qualified. The nominees received between 2,466,530 and 2,516,771 votes in favor, with votes withheld ranging from 132,292 to 182,533. There were 2,023,681 broker non-votes for each nominee. InvestingPro analysis indicates the company faces financial challenges, with a current ratio of 0.56 and negative gross profit margins.
Shareholders also ratified the appointment of Haskell & White LLP as Dare Bioscience’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote passed with 4,522,791 in favor, 106,137 against, and 43,817 abstentions.
On an advisory basis, the compensation of named executive officers was approved, receiving 2,380,644 votes in favor, 243,271 against, and 25,145 abstentions, with 2,023,681 broker non-votes.
Additionally, shareholders approved an amendment to the Dare Bioscience 2022 Stock Incentive Plan. The amendment increases the number of shares available for issuance under the plan by 600,000. The proposal received 2,283,634 votes in favor, 353,257 against, and 12,172 abstentions, with 2,023,681 broker non-votes.
No other business was conducted at the meeting. The board had previously approved the stock plan amendment, contingent on shareholder approval.
Dare Bioscience is incorporated in Delaware and its common stock is listed on the Nasdaq Capital Market under the symbol DARE. Get comprehensive insights into DARE’s financial health, valuation metrics, and growth potential with a InvestingPro subscription, which includes access to detailed research reports and 12 additional ProTips.
In other recent news, Dare Bioscience reported a comprehensive loss of $4.4 million for the first quarter of 2025, while highlighting a strategic focus on cost reduction and product innovation. The company plans to launch four new products by the end of the year, including its Sildenafil Cream, with an aim to generate revenue by the fourth quarter of 2025. In a strategic move to support this goal, Dare Bioscience announced a partnership with Rosy Wellness, a digital women’s health platform, to promote its upcoming DARE to PLAY Sildenafil Cream, expected to be available in the U.S. in late 2025.
Additionally, analysts at H.C. Wainwright reaffirmed their Buy rating for Dare Bioscience, maintaining a price target of $12.00, reflecting confidence in the company’s strategic direction and the potential market impact of its products. The collaboration with Rosy Wellness is seen as a significant step towards the commercialization of the Sildenafil Cream. Dare Bioscience has also reduced its general and administrative expenses by 14% compared to the first quarter of 2024, indicating a focus on cost management.
The company is also preparing to submit the Sildenafil Cream Phase III study by the second quarter of 2025, as part of its efforts to achieve FDA approval. Meanwhile, Dare Bioscience is continuing enrollment for the Ovaprene Phase III study and preparing for the DARE HPV Phase II clinical study. These developments mark a pivotal period for Dare Bioscience as it seeks to enhance its presence in the women’s health sector through strategic partnerships and product launches.
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