Company: DARE
Filing Date: 2025-04-24
Form Type: ARS
Source: 0001401914-25-000018
Chunk: 270

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: ARS
Chunk 270
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 8,700,386 $ 870 $ 169,705,480 $ (428,809) $ (175,289,630) $ (6,012,089) See accompanying notes. F-6

Daré Bioscience, Inc. and Subsidiaries Consolidated Statements of Cash Flows Years Ended December 31, 2024 2023 Cash flows from operating activities Net loss $ (4,053,599) $ (30,161,391) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation expense 42,325 38,363 Right of use asset - operating lease 471,003 (861,706) Stock-based compensation expense 2,203,256 2,530,684 Loss on disposal of property and equipment 600,000 — Non-cash royalty revenue related to sale of future royalties 202 — Non-cash interest expense on liability related to sale of future royalties 317,318 24,289 Changes in operating assets and liabilities: Other receivables 719,229 753,948 Prepaid expenses 3,598,565 547,714 Deposits 402,414 (1,152,974) Other non-current assets (33,746) (10,300) Operating lease liability (459,763) 915,732 Accounts payable (1,929,717) 1,357,601 Accrued expenses 171,473 (8,272,201) Interest payable 520,816 — Deferred grant funding 2,824,471 (4,566,413) Net cash provided by (used in) operating activities 5,394,247 (38,856,654) Cash flows from investing activities Purchases of property and equipment (573,046) (629,430) Net cash used in investing activities (573,046) (629,430) Cash flows from financing activities Net proceeds from issuance of common stock 453,579 9,346,656 Proceeds from the exercise of common stock warrants — 1,299,376 Proceeds from the sale of future royalties, net — 4,723,899 Repayment of liability on sale of future royalties (2,189) — Issuance of note payable 561,663 601,174 Payments on note payable (579,223) (333,985) Net cash provided by financing activities 433,830 15,637,120 Effect of exchange rate