Company: DARE
Filing Date: 2025-04-24
Form Type: ARS
Source: 0001401914-25-000018
Chunk: 320

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: ARS
Chunk 320
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 ended December 31, 2024. As of December 31, 2024, the Company has recorded approximately $5.2 million of deferred grant funding liability related to this award in the Company's consolidated balance sheets. 2024 Biotherapeutic Product Grant Agreement In January 2024, the Company entered into an agreement with the Foundation under which the Company was awarded $750,000 to fund activities related to bacteria-based live biotherapeutic product development. The Company received the full amount of the award in January 2024. The Company recorded credits to research and development expense of approximately $0.7 million for costs related to this award for the year ended December 31, 2024. As of December 31, 2024, the Company has recorded approximately $39,000 of deferred grant funding liability related to this award in the Company's consolidated balance sheets. 2021 DARE-LARC1 Grant Agreement In June 2021, the Company entered into an agreement with the Foundation under which the Company was awarded up to approximately $49.0 million to support the development of DARE-LARC1. The agreement supports technology development and preclinical activities over the period of June 30, 2021 to November 1, 2026, to advance DARE-LARC1 through nonclinical proof-of-principle studies and other IND-enabling work to allow for the submission of an IND application with the FDA, approval of which will be required to commence testing in humans. As of December 31, 2024, the Company has received a cumulative total of approximately $31.8 million in non-dilutive funding under the agreement, including $4.5 million during 2023 and $3.5 million during 2024. Additional payments are contingent upon the DARE-LARC1 program’s achievement of specified development and reporting milestones. The Company recorded credits to research and development expense of approximately $6.2 million and $8.7 million for costs related to this award for the year ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company recorded approximately $10.8 million of deferred grant funding liability related to this award in the Company's consolidated balance sheets. 2022 DARE-LBT Grant Agreement In November 2022, the Company entered into an agreement with the Foundation under which the Company was awarded $585,000 to support the development of DARE-LBT over the period of November 11