Dare Bioscience stock holds Buy rating at H.C. Wainwright on positive trial data
Investing.com
Published Jul 15, 2025 08:06AM ET
Investing.com - Dare Bioscience (NASDAQ:DARE), which has seen its shares surge nearly 29% in the past week and currently commands a market cap of $27.35 million, maintained its Buy rating and $12.00 price target at H.C. Wainwright following positive interim analysis results from its Ovaprene contraceptive device trial. According to InvestingPro data, analysts' price targets range from $12 to $14, suggesting significant upside potential.
The independent Data Safety Monitoring Board (DSMB) recommended the study continue without modification after reviewing safety data, with approximately 9% of women in the trial experiencing pregnancies—a rate consistent with company expectations based on pre-pivotal testing.
These pregnancy rates compare favorably with existing contraceptive methods, as the FDA's birth control guide indicates pregnancy rates of 7% for short-acting hormonal contraceptives and 13-17% for male condoms, diaphragms, or sponges with spermicide.
The most common product-related adverse event was vaginal odor, which led to approximately 17% of participants discontinuing the study, though no new safety or tolerability concerns were identified.
H.C. Wainwright noted that if Bayer (OTC:BAYRY) exercises its commercial option for Ovaprene after the final Phase 3 readout, Dare would earn a $20 million milestone payment, potentially strengthening the company's balance sheet, which has been "an overhang on shares." Investors following this development should note that Dare's next earnings report is scheduled for August 11, 2025. Get deeper insights into Dare's financial health and growth prospects with InvestingPro , which offers exclusive access to over 10 additional ProTips and comprehensive financial metrics.
In other recent news, Daré Bioscience announced positive interim results from its Phase 3 clinical trial of Ovaprene, a hormone-free intravaginal contraceptive. The trial's independent Data Safety Monitoring Board recommended the study continue without modification, and no serious safety concerns were reported. Approximately 9% of women in the study experienced pregnancy, aligning with expectations. In financial developments, Daré Bioscience received a $6 million installment as part of a grant agreement for the development of DARE-LARC1, a long-acting contraceptive device. This funding supports nonclinical development and preparation for FDA application. Shareholders recently approved board nominees and amendments to the company's stock plan at the annual meeting. H.C. Wainwright analysts maintained a Buy rating for Daré Bioscience, following a new partnership with Rosy Wellness to promote the company's sildenafil cream. The analysts expressed confidence in the company's strategic direction and future market impact.
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Written By: Investing.com
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