Q2 2024 Dare Bioscience Inc Earnings Call Transcript
Key Points
- Dare Bioscience Inc (DARE) reported a comprehensive income of approximately $12.9 million for the second quarter, driven by proceeds from a royalty monetization transaction.
- The company ended the second quarter with approximately $16.4 million in cash and cash equivalents.
- Dare Bioscience Inc (DARE) has a robust pipeline with potential first-in-category product candidates, including Sildenafil Cream and Ovaprene.
- The commercialization of XACIATO, the first FDA-approved product from their portfolio, is progressing well with steady month-over-month increases in prescriptions.
- The company received $1 million as the latest installment under a grant agreement to support the development of DARE-LARC1, with potential total funding of up to $49 million.
- General and administrative expenses were approximately $2.4 million, a 16% decrease compared to Q2 2023, indicating cost-cutting measures such as reduced headcount.
- Research and development expenses were approximately $4.9 million, a 19% decrease compared to Q2 2023, which may impact the pace of product development.
- The FDA's review of the Phase 3 design for Sildenafil Cream is ongoing, causing delays in the initiation of the Phase 3 trial.
- Enrollment rates for the Phase 3 study of Ovaprene vary considerably across different sites, potentially delaying the study's completion.
- The company implemented a reverse stock split on July 1, 2024, which may indicate efforts to maintain compliance with stock exchange listing requirements.
Welcome to the conference call hosted by Daré Bioscience to review the company's second quarter financial results and to provide a general business update. This call is being recorded. My name is Leonardo, and I will be your operator today.
With us today from Daré are Sabrina Martucci Johnson, President and Chief Executive Officer; and MarDee Haring-Layton, Chief Accounting Officer.
Ms. Haring-Layton, please proceed.
Good afternoon, and welcome to the Daré Bioscience financial results and business update call for the quarter ended June 30, 2024. Today, we will review our second quarter results and discuss developments and expectations for our pipeline and portfolio.
I'd like to remind you that today's discussion will include forward-looking statements within the meaning of 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
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
