Daré Bioscience Inc. reported its financial results for the second quarter ended June 30, 2025. The company held approximately $5.0 million in cash and cash equivalents at the end of the quarter, with a working capital deficit of approximately $12.6 million. Subsequent to the quarter's end, Daré significantly bolstered its financial position by raising approximately $17.6 million from sales of common stock and receiving a $6.0 million grant installment payment. General and administrative expenses were reported at $2.4 million for Q2 2025, showing a slight decrease from $2.5 million in Q2 2024. This change was primarily due to reductions in personnel costs, stock-based compensation, and general corporate overhead, which were partially offset by an increase in professional services expenses. Daré is advancing its dual-path strategy, which focuses on both near-term revenue and long-term value. The anticipated Q4 2025 launch of DARE to PLAY™ Sildenafil Cream through a 503B outsourcing facility is expected to mark the beginning of product revenue. Additionally, the company is preparing for the commercialization of vaginal probiotics and a proprietary monthly hormone therapy, targeting late 2026 for the latter. These efforts aim to establish a strong commercial foundation while advancing a pipeline that addresses unmet needs in contraception, HPV, and pre-term birth.