secwatch.observer — SEC 8-K summary
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Issuer:     Dare Bioscience, Inc. (DARE)
CIK:        0001401914
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001493152-24-017147
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/0001493152-24-017147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401914/000149315224017147/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-017147

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