Company: DARE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001401914-25-000044
Chunk: 60

Company: Dare Bioscience, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 60
---
On July 24, 2025, the Company received a letter from the Nasdaq Office of General Counsel confirming that the Company demonstrated compliance with the stockholders’ equity requirement in Nasdaq Listing Rule 5550(b)(1), or the Stockholders’ Equity Rule, and that the Company is therefore in compliance with the Nasdaq Capital Market’s continued listing requirements. That letter also informed the Company that, pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a Mandatory Panel Monitor for a period of one year from July 24, 2025, and that if, within that one-year period, the Nasdaq Listing Qualifications Staff determines that the Company is out of compliance with the Stockholders' Equity Rule, the Staff will issue a delist determination letter and the Company will have an opportunity to request a new hearing with Nasdaq's Hearings Panel. Notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company will not be permitted to provide a plan of compliance to the Staff with respect to such non-compliance, the Staff will not be permitted to grant additional time for the Company to regain compliance, and the Company will not be afforded a cure period pursuant to Nasdaq Listing Rule 5810(c)(3).ATM SalesIn July 2025, the Company sold 4,329,116 shares of its common stock under its ATM offering program for aggregate gross proceeds of approximately $18.0 million, resulting in aggregate proceeds of approximately $17.6 million, net of commissions and other offering expenses of approximately $0.4 million. For a discussion of the ATM sales agreement, see Note 4, Stockholder's Equity.Receipt of Payment Under 2021 DARE-LARC1 Grant AgreementOn July 10, 2025, the Company received a $6.0 million payment from the Foundation under the agreement the Company entered into with the Foundation in June 2021 to support the development of DARE-LARC1. For a discussion of this agreement, see Note 10, Grant Awards. Taking into account this payment, the Company has received a cumulative total of approximately $37.8 million of the up to $49.0 million in potential funding under the grant agreement.Amendment to the 2022 Plan

On April 23, 2025, subject to and effective upon approval by the Company's stockholders the Company's board of directors approved an amendment to the 2022 Plan to increase the