Q1 2024 Dare Bioscience Inc Earnings Call Transcript
Key Points
- Dare Bioscience Inc (DARE) announced a $22 million non-dilutive strategic royalty financing, enhancing their capital to advance Phase 3 investigational products.
- The company has received significant grant funding, including a total of approximately $1.8 million in recent months to support various product developments.
- Dare Bioscience Inc (DARE) has a robust pipeline with products like Sildenafil Cream and Ovaprene, targeting large, untapped markets with no current FDA-approved treatments.
- XACIATO, a product from Dare Bioscience Inc (DARE)'s portfolio, has been successfully commercialized and is gaining traction in the U.S. market.
- The company has demonstrated proof-of-concept for innovative drug delivery platforms, potentially transforming treatment for chronic conditions beyond women's health.
- Dare Bioscience Inc (DARE) reported a comprehensive loss of approximately $6.8 million for the first quarter of 2024.
- R&D expenses, although lower than the previous year, still constitute a significant part of the company's expenditures, impacting their financial stability.
- The company ended the first quarter with $3.6 million in cash and cash equivalents, which raises concerns about their financial runway without additional funding.
- There are uncertainties and dependencies on FDA feedback and approvals for advancing their key products like Sildenafil Cream into Phase 3 trials.
- The need for additional capital to initiate and complete the Sildenafil Cream Phase 3 study, estimated at around $15 million, poses a financial challenge.
Welcome to the conference call hosted by Daré Bioscience to review the company's First Quarter Financial Results and to provide the General Business Update. This call is being recorded. My name is Alex and I will be your operator for today.
With us today from Daré are Sabrina Martucci Johnson, President and Chief Executive Officer; and MarDee Haring-Layton, Chief Accounting Officer. Ms. Johnson, please proceed.
Thank you. Good afternoon and welcome to the Daré Bioscience Financial Results and Business Update Call for the quarter ended March 31, 2024. Today, we'll review our first quarter results and discuss developments and expectations from our pipeline and portfolio.
I would like to remind you that today's discussion will include forward-looking statements within the meaning of the Federal Securities Laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements made during this call that are not
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