Company: DARE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001401914-25-000022
Chunk: 67

Company: Dare Bioscience, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 1 and Phase 1-ready clinical stage programs, $0.1 million and $0.2 million, respectively; and (d) preclinical stage programs, $1.6 million and $2.4 million, respectively.

The decrease of approximately $1.1 million in R&D expenses for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 was primarily attributable to decreases in (i) manufacturing costs related to Ovaprene, (ii) costs related to development activities for Sildenafil Cream, and (iii) costs related to development activities for our preclinical stage programs. These decreases were partially offset by increases in costs related to our Phase 1 and Phase 1-ready clinical stage programs. Contra-R&D expenses for the three months ended March 31, 2025 and 2024 primarily offset direct program costs for DARE-LARC1, one of our preclinical stage programs. 

Royalty expenses

Royalty expenses for the three months ended March 31, 2024 related to our license agreement with MilanaPharm and our royalty interest financing agreement with UiE.

Other income (expense)

The increase of $0.9 million in other income for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 was primarily due to a loss on the disposal of a fixed asset of $0.6 million recorded in the prior year period and the receipt in the current year of approximately $0.2 million of employee retention credits for applications filed during 2023.

36

Liquidity and Capital Resources 

Plan of Operations and Future Funding Requirements

At March 31, 2025, our accumulated deficit was approximately $179.7 million, our cash and cash equivalents were approximately $10.3 million, and our working capital deficit was approximately $9.4 million. We will need additional capital to fund our operating needs into the third quarter of 2025 and to meet our current obligations as they become due. All of our cash and cash equivalents at March 31, 2025 represented funds received under grant agreements that generally may be applied solely toward direct costs of carrying out the respective projects under those grant agreements.

We prepared the accompanying condensed consolidated financial statements on a going concern basis, which assumes that we will realize our assets and satisfy our liabilities in the normal course of business. We have a history of losses from operations and expect significant losses from operations