Company: DARE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001401914-25-000044
Chunk: 109

Company: Dare Bioscience, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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 an increase in contra R&D expenses, (ii) a decrease in manufacturing costs related to Ovaprene, and (iii) a decrease in costs related to development activities for Sildenafil Cream, partially offset by increases in costs related to development activities for (A) our Phase 1 and Phase 1-ready clinical stage programs —primarily attributable to our DARE-PTB1 program, and (B) our other advanced clinical stage programs —primarily attributable to our DARE-HPV program. Contra R&D expenses for the six months ended June 30, 2025 and 2024 primarily offset direct program costs for DARE-LARC1. 

40

Royalty expenses

Royalty expenses for the six months ended June 30, 2024 related to our license agreement with MilanaPharm and our royalty interest financing agreement with UiE.

Other income (expense)

Sale of royalty and milestone rights, net

The decrease of $20.4 million in other income for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 was due to the proceeds we received in April 2024 under the Royalty Purchase Agreements we entered into with XOMA, $22.0 million of which was recorded as income, net of approximately $1.6 million in transaction costs. See Note 8 “Royalty Purchase Agreements” to the accompanying condensed consolidated financial statements.

Other income (expense), net

The increase of $0.9 million in other income for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 was primarily due to a loss on the disposal of a fixed asset of $0.6 million recorded in the prior year period and the receipt in the current year of approximately $0.2 million of employee retention credits for applications filed during 2023. 

Liquidity and Capital Resources 

Plan of Operations and Future Funding Requirements

In the near term, we plan to focus primarily on: (a) our ongoing Ovaprene Phase 3 study; (b) executing against our Section 503B compounding and consumer health products business strategies, with a focus on DARE to PLAY Sildenafil Cream, DARE-HRT1 and two vaginal probiotics; and (c) advancing the development of product candidates for which the costs are being supported by non-dilutive grant or other award funding, in particular DARE-LARC