Company: DARE
Filing Date: 2025-04-24
Form Type: ARS
Source: 0001401914-25-000018
Chunk: 297

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: ARS
Chunk 297
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ec is eligible to receive a single-digit percentage of that sublicense revenue. As of December 31, 2024, only the $1.2 million in aggregate milestone payments noted above have been made. 4. PREPAID EXPENSES Prepaid expenses consisted of the following: As of December 31, 2024 2023 Prepaid clinical expense $ 1,290,605 $ 5,023,140 Prepaid development expense 663,723 376,959 Prepaid insurance expense 398,950 472,922 Prepaid legal and professional expenses 166,429 245,251 Total prepaid expenses $ 2,519,707 $ 6,118,272 F-21

5. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consist of the following: As of December 31, 2024 2023 Assets under construction $ 1,229,165 $ 600,000 IT equipment 37,239 51,978 Leasehold improvements 40,284 42,188 Lab equipment 204,938 107,511 $ 1,511,626 $ 801,677 Less– accumulated depreciation (175,894) (145,702) Property and equipment, net $ 1,335,732 $ 655,975 Depreciation expense was $42,325 and $38,363 for the years ended December 31, 2024 and 2023, respectively. 6. ACCRUED EXPENSES Accrued expenses consisted of the following: As of December 31, 2024 2023 Accrued clinical expense $ — $ 1,195,744 Accrued compensation and benefits 805,612 805,412 Accrued development expense 1,258,435 547,490 Accrued royalties payable — 6,504 Insurance financing payable 249,628 267,188 Other accruals 662,576 — Accrued license fee expense 66,667 66,667 Total accrued expenses $ 3,042,918 $ 2,889,005 7. VENDOR CONCENTRATION The Company had two major vendors that accounted for approximately 15% and 12% of the Company's research and development expenditures for the year ended December 31, 2024, and 21% and 3% of the Company's research and development expenditures for the year ended December 31, 2023. The same vendors accounted for