Dare Bioscience Inc (DARE)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$0.65-0.89%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Dare Bioscience Inc’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	359,333
EPS	—	-0.233
Annual ending 2026-12-31
Revenue	—	2.72M
EPS	—	-0.783
Annual ending 2027-12-31
Revenue	—	8.86M
EPS	—	-0.415

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Manage dilution from equity sales	A supporting condition in Dare Bioscience Inc's published investment case. The stated target is No further large unregistered equity sales in next 4 quarters.	Under Pressure	Company announces new large equity offerings within next 4 quarters	New $6M equity offering announced DARE announced a $6M registered direct offering and Nasdaq delisting notices in Aug-Oct 2026. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
EPS loss narrowing toward -$0.51 in FY27	Losses are narrowing, with EPS improving from -$0.95 this year to -$0.51 next year.	Improving	EPS loss worsens beyond -$0.95 in FY26 or fails to improve toward -$0.51 in FY27	Diluted EPS: $-0.20 per share FY2026-Q2; GAAP. Published target: EPS loss <= -$0.51. Target period is not explicitly aligned with this observation. Source published Aug 13, 2026-0.2 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: c4d8810d-1bd2-4873-9b2b-387b93dcab38. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth to at least $7.4M in FY27	A primary condition in Dare Bioscience Inc's published investment case. The stated target is >= $7.4M total revenue.	Broken	revenue falls below $2.1M in FY26 or fails to grow toward $7.4M in FY27	Revenue: $187,546 FY2026-Q2; GAAP. Published target: >= $7.4M total revenue. Target period is not explicitly aligned with this observation. Source published Aug 13, 2026187,546 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: c4d8810d-1bd2-4873-9b2b-387b93dcab38. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	1 / 1
2026-07-25	Unavailable	Unavailable	1 / 1
2026-07-26	Unavailable	Unavailable	1 / 1
2026-07-27	Unavailable	Unavailable	1 / 1
2026-07-28	Unavailable	Unavailable	1 / 1
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2026-10-22	Unavailable	Unavailable	1 / 1
2026-10-23	Unavailable	Unavailable	1 / 1
2026-10-24	Unavailable	Unavailable	1 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	3	0	0
2026-06-01	3	0	0
2026-07-01	3	0	0
2026-08-01	3	0	0
2026-09-01	3	0	0
2026-10-01	3	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 3 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Manage dilution from equity salesPublished status: Under Pressure
EPS loss narrowing toward -$0.51 in FY27Diluted EPS: $-0.20 per share
Revenue growth to at least $7.4M in FY27Published status: Broken

Next proof point

Nov 12, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.4%Typical daily move · historical

Downside history

-80.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Dare Bioscience Inc outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk, loss-making development-stage healthcare company, not an established durable compounder. The long-term thesis is in a watch state: commercial activity is beginning, but recent performance remains below its industry cohort and management execution has been volatile.

What's priced into Dare Bioscience Inc

The valuation model indicates a sizable premium versus peers, but confidence in that estimate is low. The evidence points to a durable-premium expectation, while no fragility gates fired; it does not show precisely what revenue or clinical outcomes the market assumes.

What the fundamentals likely do

Near term, DARE to PLAY Sildenafil Cream revenue rose between the first and second quarters of 2026, and management says initial national dispensing and revenue began on its stated timeline. Flora Sync LF5 has launched, though its early revenue timing is mixed; Ovaprene and DARE-HPV studies have advanced, with topline DARE-HPV results expected in 2027. Losses, high risk, a recent notice of delisting or failure to meet a continued listing rule, and a 45% near-term miss probability make execution and the next guidance update important.

What Dare Bioscience Inc hinges on

Over the next few quarters, the thesis depends on whether early product revenue grows and whether management delivers on its stated timelines without cutting guidance. Over the multi-year view, clinical progress, including Ovaprene and DARE-HPV milestones, must support the business case; weakening employment data could weigh on healthcare names, while continued strength from sector bellwethers could support the sector backdrop.

Bottom line

DARE’s 1-to-3-year view has emerging commercial and pipeline progress, but it remains a high-risk, loss-making thesis with uncertain execution and a recent listing concern. The evidence is mixed, so the central question is whether early revenue and clinical milestones can build into a more durable business. Not investment advice.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	359,333
EPS	—	-0.233
Annual ending 2026-12-31
Revenue	—	2.72M
EPS	—	-0.783
Annual ending 2027-12-31
Revenue	—	8.86M
EPS	—	-0.415

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	1 / 1
2026-07-25	Unavailable	Unavailable	1 / 1
2026-07-26	Unavailable	Unavailable	1 / 1
2026-07-27	Unavailable	Unavailable	1 / 1
2026-07-28	Unavailable	Unavailable	1 / 1
2026-07-29	Unavailable	Unavailable	1 / 1
2026-07-30	Unavailable	Unavailable	1 / 1
2026-07-31	Unavailable	Unavailable	1 / 1
2026-08-01	Unavailable	Unavailable	1 / 1
2026-08-02	Unavailable	Unavailable	1 / 2
2026-08-03	Unavailable	Unavailable	1 / 2
2026-08-04	Unavailable	Unavailable	1 / 1
2026-08-05	Unavailable	Unavailable	1 / 1
2026-08-06	Unavailable	Unavailable	1 / 1
2026-08-07	Unavailable	Unavailable	1 / 1
2026-08-08	Unavailable	Unavailable	1 / 2
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2026-09-17	Unavailable	Unavailable	1 / 1
2026-09-18	Unavailable	Unavailable	1 / 1
2026-09-19	Unavailable	Unavailable	1 / 1
2026-09-20	Unavailable	Unavailable	1 / 1
2026-09-21	Unavailable	Unavailable	1 / 1
2026-09-22	Unavailable	Unavailable	1 / 1
2026-09-23	Unavailable	Unavailable	1 / 1
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2026-09-27	Unavailable	Unavailable	1 / 1
2026-09-28	Unavailable	Unavailable	1 / 1
2026-09-29	Unavailable	Unavailable	1 / 1
2026-09-30	Unavailable	Unavailable	1 / 1
2026-10-01	Unavailable	Unavailable	1 / 1
2026-10-02	Unavailable	Unavailable	1 / 1
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2026-10-11	Unavailable	Unavailable	1 / 1
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2026-10-13	Unavailable	Unavailable	1 / 1
2026-10-14	Unavailable	Unavailable	1 / 1
2026-10-15	Unavailable	Unavailable	1 / 1
2026-10-16	Unavailable	Unavailable	1 / 1
2026-10-17	Unavailable	Unavailable	1 / 1
2026-10-18	Unavailable	Unavailable	1 / 1
2026-10-19	Unavailable	Unavailable	1 / 1
2026-10-20	Unavailable	Unavailable	1 / 1
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2026-10-22	Unavailable	Unavailable	1 / 1
2026-10-23	Unavailable	Unavailable	1 / 1
2026-10-24	Unavailable	Unavailable	1 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings