The following is a summary of the Daré Bioscience, Inc. (DARE) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Daré Bioscience recorded total revenue of about $2.8 million in 2023, anchored by payments from commercial collaborator Organon.

• The company's G&A expenses were roughly $12.1 million, with R&D expenses reaching about $21.5 million.

• The company reported a net loss of $30.1 million for 2023, leaving $10.5 million in cash and cash equivalents.

• Through non-dilutive grant funding, a direct offering, and a royalty-backed investment, Daré Bioscience generated about $24 million.

Business Progress:

• Significant progress was observed in the development of women's health pharmaceutical products, with products progressing well at all stages of the pipeline.

• The year saw 15 FDA interactions for six product indications and the completion of Phase 2b studies for the Sildenafil Cream.

• Presently, Phase 3 studies for Ovaprene, a hormone-free monthly contraceptive candidate, have begun.

• Commercially, the product XACIATO for bacterial vaginosis treatment became widely available by prescription in early 2024, and the company is expecting royalty revenue from Organon.

• In 2024, Daré is targeting reduced G&A expenses to about $10m and anticipates lower R&D expenses due to more focused clinical trials.

• The company also revealed its plans to continue potential financing opportunities, with milestones including FDA discussions on Phase 3 trial designs and updates on key assets XACIATO, Ovaprene, and Sildenafil Cream.

• Preparations are ongoing for IND applications for the product HRT1 and the Phase 2 study for the product VVA1, contingent on securing additional capital.

More details: Dare Bioscience IR

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