Company: DARE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001401914-25-000044
Chunk: 106

Company: Dare Bioscience, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 106
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ARE-PTB1 program, and (C) our preclinical stage programs - primarily attributable to our DARE-LARC1 program. Contra R&D expenses for the three months ended June 30, 2025 primarily offset direct program costs for DARE-LARC1 and DARE-HPV. Contra R&D expenses for the three months ended June 30, 2024 primarily offset direct program costs for DARE-LARC1.

Other income (expense)

Sale of royalty and milestone rights, net

The decrease of $20.4 million in other income for the three months ended June 30, 2025 as compared to the three 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 expense, net

The increase of $79,429 in other expense for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024 was primarily due to a decrease in interest earned on cash balances in the current period due to lower cash balances while interest expense for the periods was similar.

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Comparison of Six Months Ended June 30, 2025 and 2024 (Unaudited)

The following table summarizes our condensed consolidated results of operations for the periods indicated, together with the changes in those items in terms of dollars and percentage:

Six Months Ended June 30,Change20252024$%Revenues:Royalty revenue$4,255 $31,740 $(27,485)100 %Total revenue4,255 31,740 (27,485)100 %Operating expenses:General and administrative 4,687,030 5,118,711 (431,681)(8)%Research and development 3,726,143 8,287,294 (4,561,151)(55)%Royalty expense— 7,674 (7,674)(100)%Total operating expenses8,413,173 13,413,679 (4,992,832)(37)%Loss from operations(8,408,918)(13,381,939)4,973,021 (37)%Other income (expense)