Company: DARE
Filing Date: 2025-04-24
Form Type: ARS
Source: 0001401914-25-000018
Chunk: 298

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: ARS
Chunk 298
---
0% of the Company's total accounts payable and accrued expenses as of each of December 31, 2024 and 2023. The Company continues to maintain its relationship with these vendors and anticipates incurring significant expenses with these vendors over the next 12 months. 8. INCOME TAXES The components of loss from continuing operations before provision for income taxes consists of the following (in thousands): Years Ended December 31, 2024 2023 Domestic $ 3,822 $ 29,099 Foreign 230 1,060 Loss before taxes $ 4,052 $ 30,159 F-22

The difference between the provision (benefit) for income taxes and the amount computed by applying the U.S. federal income tax rate for the years ended December 31, 2024 and 2023 are as follows: Years Ended December 31, 2024 2023 Federal statutory rate 21.0 % 21.0 % State income tax, net of federal benefit (6.26) % 0.84 % State tax rate change 29.65 % 1.15 % Permanent differences (2.21) % (0.02) % Research and development credit 31.74 % 7.47 % Stock compensation (5.49) % (0.75) % Other (9.49) % (3.04) % Change in valuation allowance (58.98) % (26.65) % Effective income tax rate (0.04) % — % The major components of the Company’s deferred tax assets as of December 31, 2024 and 2023 are shown below (in thousands). 2024 2023 Net operating loss carryforwards $ 86,589 $ 86,182 Research and development credit carryforwards 11,836 10,868 Capitalized research and development costs 12,614 12,570 Other 59 41 Stock compensation 3,570 2,618 Total deferred tax assets 114,668 112,279 Valuation allowance (114,668) (112,279) Net deferred tax assets $ — $ — The Company has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets. Under applicable accounting standards, management has considered the Company’s history of losses and concluded that it is more likely than not the Company will not recognize the benefits of federal and state deferred tax assets. Accordingly, a valuation allowance of $114.7