Dare Bioscience Inc. Common Stock (DARE)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business, not the story. Dare Bioscience is a 21-employee biotechnology firm with one marketed product, XACIATO, and several development candidates. Scale is tiny: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $187,546 and net income was -$3.0 million. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $152,455 and net income was -$3.0 million. Those are not the numbers of a durable franchise. Full-year fiscal 2025, ended 2025-12-31, showed revenue of $1.0 million and a net loss of $13.4 million. The company has lost money in each of the last four years, which is why the FairStock Lynch category is 'none.' What about a moat? A patent-protected product may help, but with 21 employees and no profits, I see no demonstrated pricing power or competitive protection. Financial health is poor: trailing free cash flow was -$11.8 million, and the FairStock FCF yield was -102.8% of the $11.4 million market cap. The Piotroski F-Score is 2/9 and Altman Z-Score is -12.33, both FairStock calculations, signaling distress. Return on capital employed was -39.29%, another FairStock calculation, and debt-to-equity was 9.78. Valuation? At the $0.75 close on 2026-10-13, the FairStock P/E is -1.05 and P/B is 18.60. Negative earnings make P/E meaningless, but P/B near 19 is not a Graham bargain. The FairStock score is 44/100. Until Dare proves it can sell products profitably and stop burning cash, this is speculation, not value.

In plain English: Dare Bioscience is a small healthcare company that develops women's health treatments, including a bacterial vaginosis gel and experimental products for contraception and sexual health. It makes very little revenue, loses money every year, and spends more cash than it brings in, so the business looks financially weak. At 75 cents a share, the price does not look clearly cheap based on those losses; it depends on future products that may or may not succeed.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer