Dare Bioscience Regains Ovaprene Rights from Bayer, Effective February 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 01 2025
0mins
Should l Buy DARE?
Dare Bioscience (DARE) announced that all rights to Ovaprene, the company's first-in-category, investigational, hormone-free monthly intravaginal contraceptive, will be returned to Dare by Bayer HealthCare (BAYRY) as a result of Bayer electing to terminate the license agreement between the parties as part of a strategic prioritization. In accordance with the license agreement, the termination will be effective in February 2026. With the Phase 3 program advancing with non-dilutive grant support, the return of rights will provide Dare with full control of a late-stage asset that is differentiated in a large market with significant unmet need.
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Analyst Views on DARE
Wall Street analysts forecast DARE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DARE is 10.00 USD with a low forecast of 8.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.770
Low
8.00
Averages
10.00
High
12.00
Current: 1.770
Low
8.00
Averages
10.00
High
12.00
About DARE
Dare Bioscience, Inc. is a biopharmaceutical company. The Company's programs target unmet needs in women's health, primarily in the areas of contraception, sexual health, pelvic pain, fertility, infectious disease, vaginal health and menopause. Its product includes XACIATO (clindamycin phosphate) vaginal gel 2%. XACIATO is a single-dose prescription medication for the treatment of bacterial vaginosis in females 12 years of age and older. Its other product candidates include Ovaprene, Sildenafil Cream, and DARE-HRT1. Ovaprene is an investigational, hormone-free, monthly intravaginal contraceptive. Sildenafil Cream is a novel cream formulation of sildenafil for the treatment of female sexual arousal disorder; and DARE-HRT1 is an intravaginal ring designed to deliver a combination of menopausal hormone therapy, bio-identical 17b-estradiol and progesterone together, continuously over a 28-day period for the treatment of moderate to severe vasomotor symptoms, also known as hot flashes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Opportunity: With approximately 20 million women in the U.S. facing genital arousal challenges and no FDA-approved therapeutics available, the launch of DARE to PLAY™ provides a scientifically-backed solution for this large, underserved market, presenting significant commercial potential.
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- Market Opportunity: With approximately 20 million women in the U.S. experiencing genital arousal issues and no FDA-approved therapeutics available, the launch of DARE to PLAY™ provides a clinically evidence-backed solution for this large, underserved market, presenting significant commercial potential.
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- Manufacturing Compliance: DARE to PLAY™ is produced through a 503B outsourcing facility compliant with cGMP standards, ensuring product quality and consistency while providing women with a safe and effective option to take charge of their sexual health.
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- Clinical Trial Progress: The Phase 3 clinical trial for Ovaprene is underway, supported by non-dilutive funding, with positive interim data indicating favorable safety and tolerability, positioning it to potentially become the first FDA-approved hormone-free monthly intravaginal contraceptive.
- Market Potential: As an innovative non-hormonal contraceptive option, Ovaprene addresses a significant gap in women's health, expected to attract broad strategic interest from pharmaceutical and consumer health organizations, further driving company growth.
- Increased Strategic Flexibility: By consolidating global commercialization rights, Daré can explore the most attractive commercial and access pathways, including partnerships and non-traditional commercialization models, maximizing long-term economic benefits.
See More
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- No Official Endorsement: The content does not necessarily reflect the views of Nasdaq, Inc.
See More
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Objective of the Initiative: The project aims to identify and evaluate both for-profit and non-profit organizations globally that have expertise in formulation development, clinical trial design, and regulatory support for contraceptive products.
Company Mission: Daré Bioscience focuses on addressing gaps in women's health through rigorous scientific research and aims to accelerate the development of innovative contraceptive and reproductive health solutions.
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