Daré Bioscience gets Nasdaq notice for stock below $1.00

Daré Bioscience, Inc. (Nasdaq: DARE) said in a Form 8-K dated October 2, 2026 that it received a letter from Nasdaq's Listing Qualifications Department on September 28, 2026. The letter said the closing bid price of its common stock had been below the minimum $1.00 per share for the last 30 consecutive business days. The filing reports the event under Item 3.01, which covers failures to satisfy a continued listing rule. The letter breaks Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for The Nasdaq Capital Market.

The letter has no immediate effect on the listing. The company has an initial 180 calendar days, until March 29, 2027, to regain compliance. It regains compliance if the closing bid price is at least $1.00 for a minimum of 10 consecutive business days within that period, unless the staff uses its discretion to extend the 10-day count. The 8-K is signed by Sabrina Martucci Johnson, president and chief executive officer.

What happens if the stock does not recover

If Daré does not regain compliance by March 29, 2027, it may be eligible for an additional 180-day period. To qualify, it would have to meet the market value of publicly held shares requirement and the other initial listing standards for the Nasdaq Capital Market, apart from the bid price requirement. It would also have to give written notice that it intends to cure the deficiency during that period, by effecting a reverse stock split if necessary.

If the company is not eligible, or if the staff concludes it cannot cure the deficiency, Nasdaq will send written notice that the stock is subject to delisting. Daré could then appeal to a Nasdaq Hearing Panel. The 8-K says the company will monitor the closing bid price and consider options to regain compliance, and it adds that there can be no assurance it will regain compliance or maintain compliance with any other Nasdaq continued listing requirement.

The business behind the listing

The company's annual report, filed March 26, 2026, describes Daré as a women's health biotech company. It describes a dual path for selected formulations: traditional FDA approval, and earlier access through outsourcing facilities registered under Section 503B of the Federal Food, Drug, and Cosmetic Act.

The report names two commercial efforts. DARE to PLAY is a topically applied sildenafil cream designed to improve female sexual arousal, and the company began commercializing it in December 2025. Flora Sync LF5, the first product in the DARE to RESTORE vaginal probiotic suppository line, was expected to become commercially available in the United States in the second quarter of 2026. The report says the company intends to reduce reliance on dilutive capital and that it does not plan to build its own sales force.

The report also says that in April 2024 the company sold its rights to royalty and milestone payments on XACIATO, its first approved product, to XOMA (US) LLC to fund its pipeline.

The money

The company's figures from the annual report show research and development expense of $5.5 million in 2025, against $14.3 million in 2024. The net loss was $13.4 million in 2025, against $4.1 million in 2024. Cash used in operations was $9.9 million in 2025, while operations provided $5.5 million of cash in 2024.

Year-end cash and cash equivalents were $24.7 million at December 31, 2025, against $15.7 million at the end of 2024. A quarterly report filed August 13, 2026 gives $12.6 million at June 30, 2026. That balance is set against a 2025 operating cash use of $9.9 million and a net loss of $13.4 million, and the 8-K does not say how the company plans to fund operations through the compliance period.

What the notice leaves open

The 8-K gives no closing price for the stock and no plan for a reverse split.

Report an error

Companies in this story

DAREDare Bioscience, Inc.NASDAQ · United StatesOpen the starter desk