---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-017147"
form_type: "8-K"
ticker: "DARE"
cik: "0001401914"
company_name: "Dare Bioscience, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:15:30.265240+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Daré Bioscience secures $22M non-dilutive royalty financing from XOMA for XACIATO and Phase 3 candidates

## Summary
- XOMA paid $22M upfront for 100% of Daré's net XACIATO royalties and milestones (after deductions); Daré also sold minority interest in Ovaprene/Sildenafil future revenue.
- After XOMA achieves pre-specified return, Daré receives 50% of each successive $22M received (upside-sharing).
- Synthetic royalties: 4% on Ovaprene net sales, 2% on Sildenafil Cream net sales, decreasing to 2.5% and 1.25% after further return threshold.
- Total royalty-based capital committed ($34M) includes previous UiE financing; Daré retains significant majority of future economics.
- Proceeds to fund Phase 3 pivotal programs for Ovaprene (contraceptive) and Sildenafil Cream (female sexual arousal disorder).

## SEC filing metadata
- accession: 0001493152-24-017147
- form_type: 8-K
- ticker: DARE
- cik: 0001401914
- company_name: Dare Bioscience, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/0001493152-24-017147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-017147
- JSON: https://secwatch.observer/filing/0001493152-24-017147.json
- Plain text: https://secwatch.observer/filing/0001493152-24-017147.txt

## Key facts
- Material Agreements
  Dare Bioscience, Inc. entered into Traditional Royalty Purchase Agreement with XOMA (US) LLC valued at $22.0 million (effective 2024-04-29).
  - Action: entry
  - Counterparty: XOMA (US) LLC
  - Value: $22.0 million
  - Effective: 2024-04-29
  source text: On April 29, 2024, Daré Bioscience, Inc. (“Daré” or the “Company”) entered into a Traditional Royalty Purchase Agreement and a Synthetic Royalty Purchase Agreement (together, the “Agreements”) with XOMA (US) LLC (“XOMA”). In accordance with the Agreements, on April 29, 2024, XOMA paid $22.0 million to Daré
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/0001493152-24-017147-index.htm
- Material Agreements
  Dare Bioscience, Inc. entered into Synthetic Royalty Purchase Agreement with XOMA (US) LLC (effective 2024-04-29).
  - Action: entry
  - Counterparty: XOMA (US) LLC
  - Effective: 2024-04-29
  source text: On April 29, 2024, Daré Bioscience, Inc. (“Daré” or the “Company”) entered into a Traditional Royalty Purchase Agreement and a Synthetic Royalty Purchase Agreement (together, the “Agreements”) with XOMA (US) LLC (“XOMA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/0001493152-24-017147-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.