Daré Bioscience Prices $6M At-The-Market Offering at $1.37, Adding Warrants
DARE is trading near its 52-week low of $1.13 (0.9% above the low) on elevated volume (7.1× avg).
Summary
Daré Bioscience priced a $6.0 million registered direct offering at $1.37 per share, a premium to the current $1.14 market price, with 4.38 million shares and warrants attached. The deal includes Series A and B warrants exercisable at $1.37, pending stockholder approval, and is expected to close August 17. This follows the company's Q2 10-Q disclosing going concern doubt, a Nasdaq delisting hearing in late August, and FDA concerns about Ovaprene. The capital raise is modest relative to the company's $17 million market cap but provides near-term runway; the warrant overhang and potential dilution are notable. Watch for stockholder approval of the warrants and the Nasdaq hearing outcome.
At the time of this announcement, DARE was trading at $1.14 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $17.1M. The 52-week trading range was $1.13 to $3.78. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.