Company: DARE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001401914-25-000022
Chunk: 83

Company: Dare Bioscience, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 83
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 vaginal probiotics from Europe that we aim to make available initially via a strategic partnership, and we expect to begin recording revenue from sales thereof, in the fourth quarter of 2025, however we do not expect the amount of such revenue, if any, to be material during 2025.

When we use the term "consumer health products," we refer to consumer health products that can be obtained without a physician's prescription, unless the context otherwise requires.

Similar to our plans with respect to our Section 503B business strategy, we do not plan to establish marketing, sales or distribution capabilities in order to bring our proprietary formulations to market as consumer health products, but rather we plan to identify and enter into strategic agreements and collaborations with telehealth platforms and other third parties with marketing, sales or distribution capabilities in the consumer health products market. 

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Nasdaq Listing

We have not been in compliance with the requirement in Nasdaq Listing Rule 5550(b) for continued listing on The Nasdaq Capital Market since August 2024. On March 25, 2025, we presented our multi-step plan for regaining compliance to the Nasdaq Hearing Panel, or the Panel. On April 9, 2025, we received a letter from Nasdaq informing us that the Panel determined to grant our request for an extension until August 12, 2025 to demonstrate compliance with Nasdaq Listing Rule 5550(b) by demonstrating compliance with either Nasdaq Listing Rule 5550(b)(1) or 5550(b)(2). Nasdaq Listing Rule 5550(b)(1) requires a company to maintain stockholders’ equity of at least $2.5 million, which we refer to as the Stockholders’ Equity Rule, and Nasdaq Listing Rule 5550(b)(2) requires a company to maintain a minimum market value of listed securities of $35.0 million, which we refer to as the Minimum MVLS Rule. A company will satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b) if it meets either the Stockholders’ Equity Rule or the Minimum MVLS Rule. On April 29, 2025, we submitted a modified multi-step plan for regaining compliance to the Panel (our “Plan”), which the Panel approved. Our Plan includes, among other things, increasing our stockholders’ equity by May 31, 2025 and increasing it further by July 15, 2025. The Panel’s determination to grant our request for an extension is subject