Dare Bioscience Inc 2025年度报告

区 Forthefiscal yearendedDecember31,2025 or 口THETRANSITIONPERIODFROMTO Commission File No.001-36395 DAREBIOSCIENCE,INC (Exact Name of Registrant as Specified in its Charter) Registrant's telephone number, including area code: (858) 926-7655 Securities registered pursuant to Section 12(g) of the Act: None Indicatebycheckmark if theregistrantisa well-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.YesN been subjectto such filing requirements for the past 90 days. Yes μ No Indicate bycheck mark whether the registrant has submitted electronically every Interactive Data File required to be submittedto Rule 405of Regulation S-T(S232.405of this chapter)during the preceding 12 months (or for such shorter period that the registrant wetosubmitsuchfiles).YesNo Indicateby check mark whether the registrant is a largeaccelerated filer,an acceleratedfiler,a non-accelerated filer,a smalleremerginggrowthcompanyinRule12b-2oftheExchangeAct. Large Accelerated Filer口Non-accelerated filer区 Ifan emerging growthcompany, indicatebycheckmarkif theregistrant has elected not tousetheextended transition periodfcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act Indicate by check mark whether the registrant has fled a reporton and attestation to its management's assessment of the efferof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.c.7262(b) by the registered publicaccountingfirmthatpreparedorissued its audit report. If securitiesareregisteredpursuantto Section12(b)oftheAct, indicatebycheckmark whetherthefinancial statements oftheincluded in the filing reflect the correction of an error to previously issued financial statements. Indicatebycheck markwhethertheregistrantisashell company(asdefined inRule12b-2oftheAct).YesNo The aggregatemarket value of theregistrant's common stockheldby non-affliates oftheregistrant on the last business day ofregistrant'smostrecentlycompleted secondfiscalquarterwasapproximately$21,339,826basedontheclosingpriceoftheregistrant'scstockasreportedontheNasdaqCapitalMarketon suchday.Thisexcludessharesofcommonstockheldbyaffliatesonsuchdate.Excldetermination of affliate status for this purpose may not be conclusive for other purposes. Asof March25,2026,therewere14,559,502sharesof theregistrant'scommonstock,par value S0.0001pershare,outstandi DOCUMENTSINCORPORATEDBYREFERENCE DareBioscience,Inc.andSubsidiariesForm10-K-ANNUALREPORTFortheFiscalYearEndedDecember31,2025Table of Contents PARTI CAUTIONARYNOTEREGARDINGFORWARD-LOOKINGSTATEMENTS ThisAnnual Report on Form 10-K,in particular ITEM 1."BUSINESS,"ITEM 7."MANAGEDISCUSSIONANDANALYSISOFFINANCIALCONDITIONANDRESULTSOFOPERATIONS,"andtheiniincorporatedbyreferencehereincontainsforward-lookingstatementsthatinvolvesubstantialrisksandunceAll statements,otherthanstatementsofhistoricalfacts,contained inthisreport,including statementsregastrategy,futureoperations,futurefinancial position,projectedrevenue,fundingand expenses,prospects,pobjectives ofmanagement,areforward-looking statements.Forward-looking statements,in some cases Forward-looking statements involveknownandunknown risks,uncertainties and otherfactorsthatmour actual results,performance or achievements to be materially differentfrom anyfuture results,perforrITEM 1A, "RISK FACTORS," in this report, and elsewhere in this report. Given these uncertainties, you shplaceunduerelianceonanyforward-lookingstatement.Thefollowingfactorsareamongthosethatmaycadifferences: Inabilityto raise additional capital, underfavorable terms orat all, tofund our operating needs andas a going concern;Failure to maintain the listing of our common stock on the Nasdag Capital Market or another rrecognizedexchange;Inability togenerate significant revenuefrom sales of DAREtoPLAYandotherpotential compoundecunderSection503Bof theFederal Food,Drug,andCosmeticAct,orFDCA;Inabilitytomaintainandenterintoarrangementswithoutsourcingfacilitiesoncommerciallyreasonabrequired to compound and distribute the compoundeddrugs that we seek to makeavailableunder Se503BoftheFDCA;The removal of sildenafil citrate orany otherbulk drug substance needed to compound the compouncdrugs that we seek tomakeavailableunder Section503BoftheFDCA from theFDA's listofbulkdrusubstancesthatcanbecompoundedunderSection503Bof theFDCA;The performance of third parties on which we will rely to bring to market, or assist us in bringing to mecompounded drugs;Achange inregulatoryrequirementsrelatedtocompoundeddrugsunderSection503BoftheFDCA;Difficulties ordelays in commencement or completion,or the terminationor suspension,of our cplannedclinicalorpreclinical studies;Clinical trialoutcomes and results of preclinicaldevelopment:Failure to complete development of our product candidates or submit and obtain United States Ftimelines orbudgets, orat all;Challenges and delays in obtaining timely supplies of our product candidates, including thei