Dare Bioscience, Inc. Q4 FY2025 earnings call

Sabrina Martucci-Johnson discussed the company's focus on women's health for 10 years, with a dual-path strategy of commercializing proprietary formulations through 503 compounding and pursuing FDA approval, and advancing select solutions as branded consumer health products. Highlighted programs include Dare to Play sildenafil cream with pre-sophoma prescribing going live, Dare to Restore probiotics with FloraSync LF5 expected to be commercially available in Q2 2026, Dare to Reclaim monthly interaginal ring targeting 2027 for 503B prescription fulfillment, Oviprene monthly intravaginal hormone-free contraceptive in phase three trial, and DARE HPV in preparation for Phase II clinical study. Marty Haring-Layton reviewed financial results with $24.7 million in cash and cash equivalents, $20.8 million net proceeds from stock sales, SG&A expenses decreased year over year, R&D expenses with non-dilutive funding offsetting, and revenue expected from Dare to Play in Q2 2026 and others in subsequent years.

Expect to begin recording product revenue from Dare to Play in Q2 2026 as dispensing commences nationally. FloraSync LS5 consumer health revenue expected in Q2 2026. Target to begin revenue from Dare to Reclaim in 2027. Ovaprene Phase 3 enrollment expected to complete in 2026 with data readout in 2027. DARE HPV preparing to advance into Phase 2 in 2026.

Q: When was your last interaction with FDA on sildenafil cream? And what are the next steps for clinical development and the 505 regulatory path?

A: Interactions with FDA last year, aligning on endpoints like co-primary assessment and statistical analysis plan. Dialogue ongoing.

Q: What are you seeing with the order patterns so far for Dare to Play?

A: Prescriptions coming in from brick-and-mortar providers and telehealth, both active.

Q: How are you thinking about promoting Dare to Restore?

A: Leveraging DARE Health Hub, digital native strategy, medical conferences.

Q: How do you envision the bigger driver of volume ultimately for Dare to Play?

A: Evaluating telehealth and prescriber channels, considering financial stability and cultural alignment.

Q: How are you able to convey the message broadly for Dare to Play to distinguish from alternative formulations?

A: Using clinical data on blood flow increase, time factor of 10-15 minutes, and formulation technology, leveraging provider-to-provider education.