Company: DARE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001401914-25-000022
Chunk: 47

Company: Dare Bioscience, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 the term of the grant agreement, which extends through October 2026. The Company will track and report eligible expenses incurred to the Foundation.The Company recorded credits to research and development expense of approximately $0.8 million for costs related to this award for the three months ended March 31, 2025. As of March 31, 2025 and December 31, 2024, the Company has recorded approximately $4.4 million and $5.2 million of deferred grant funding liability related to this award in the Company's condensed consolidated balance sheets, respectively.2024 Biotherapeutic Product Grant AgreementIn January 2024, the Company entered into an agreement with the Foundation under which the Company was awarded $750,000 to fund activities related to bacteria-based live biotherapeutic product development. The Company received the full amount of the award in January 2024. The Company recorded credits to research and development expense of approximately $0 and $133,000 for costs related to this award for the three months ended March 31, 2025 and 2024, respectively. The grant period ended in November 2024. No further funds are available under this award.

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2021 DARE-LARC1 Grant AgreementIn June 2021, the Company entered into an agreement with the Foundation under which the Company was awarded up to approximately $49.0 million to support the development of DARE-LARC1. The agreement supports technology development and preclinical activities over the period of June 30, 2021 to November 1, 2026, to advance DARE-LARC1 through nonclinical proof of principle studies and other IND-enabling work to allow for the submission of an IND application with the FDA, approval of which will be required to commence testing in humans.As of March 31, 2025, the Company has received a cumulative total of approximately $31.8 million in non-dilutive funding under the agreement, including $3.5 million during 2024. Additional payments are contingent upon the DARE-LARC1 program’s achievement of specified development and reporting milestones. The Company recorded credits to research and development expense of approximately $1.5 million and $2.3 million for costs related to this award for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025 and December 31, 2024, the Company has recorded approximately $9.2 million and $10.8