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Dare Bioscience Inc (DARE) fair value: what the stock is really worth

We calculate from audited financials what Dare Bioscience Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Sep 13, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Healthcare · US · ISIN US23666P2002

DB Dare Bioscience Inc logo Thin data Sep 13, 2026

Dare Bioscience Inc

DARE · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value $2.12 · Strongly undervalued (+149%)
!Quality 28/100
!Weak Growth (revenue 3y −53.1 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (3/7)
!Narrow moat 21/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$25.56 $0.7051 Fair Value $2.12 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range $0.7051 – $25.56 · fair‑value band $1.09 – $3.14 · the $0.8500 price screens below the $2.12 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Daré Bioscience, Inc. develops therapies in the areas of contraception, pelvic pain, fertility, infectious disease, menopause, and sexual and vaginal health in the United States. The company offers XACIATO, a lincosamide antibacterial gel for the treatment of bacterial vaginosis.

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Daré Bioscience, Inc. develops therapies in the areas of contraception, pelvic pain, fertility, infectious disease, menopause, and sexual and vaginal health in the United States. The company offers XACIATO, a lincosamide antibacterial gel for the treatment of bacterial vaginosis. It also develops Ovaprene, a hormone-free monthly intravaginal contraceptive; Sildenafil Cream, a cream formulation of sildenafil for topical administration to the female genitalia for the treatment of female sexual arousal disorder; DARE-HRT1 to treat vasomotor symptoms in menopausal hormone therapy; DARE-VVA1 for the treatment of dyspareunia or pain during sexual intercourse; and DARE-HPV, a fixed-dose formulation of lopinavir and ritonavir in a soft gel vaginal insert to treat genital human papillomavirus (HPV) infection, cervical intraepithelial neoplasia, and other HPV-related pathologies. In addition, the company develops DARE-PDM1, a hydrogel formulation of diclofenac for vaginal administration to treat primary dysmenorrhea; DARE-204 and DARE-214, injectable formulations of etonogestrel that provides contraception over 6-month and 12-month periods; DARE-FRT1 and DARE-PTB1, an intravaginal ring designed to deliver bio-identical progesterone for luteal phase support as part of an in vitro fertilization treatment plan; and DARE-PTB2 for the prevention of preterm birth. Further, it develops DARE-LARC1, a contraceptive implant delivering levonorgestrel with a woman-centered design controlled contraceptive option; DARE-RH1, an approach to non-hormonal contraception for men and women by targeting the CatSper ion channel; DARE-PTB2 for the prevention and treatment of idiopathic preterm birth through inhibition of a stress response protein; and DARE-GML, which delivers antimicrobial glycerol monolaurate intravaginally. Daré Bioscience, Inc. was founded in 2015 and is headquartered in San Diego, California.

Stock analysis

Dare Bioscience Inc (DARE) currently trades at $0.8500, while our model-based Fair Value estimate is $2.12, implying the stock looks roughly 59.8% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $1.09 (bear) to $3.14 (bull), the price of $0.8500 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 28/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Dare Bioscience Inc reported revenue of $1.0M in FY2025 versus $10.0M in FY2021, a compound −43.3%/yr. Reported net income was −$13.4M in FY2025.

Key figures

Market cap $32.5M · P/S ratio 28.1 · EPS (TTM) $−0.9100 · Return on equity −2,543% · Return on assets (EBIT) −87.0% · Operating margin −1,967% · Revenue (TTM) $1.2M · Revenue growth (YoY) +500%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

The share trades about 78% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at 149%, DARE screens cheaper than that median.

Fair Value models

Bear $1.09 Fair Value $2.12 Bull $3.14
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.0900 $0.1300 $0.1900 53
All 1 models by family
Asset-Based
NCAV (Graham) $0.0900 $0.1300 $0.1900 53

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Quality Score breakdown

Overall quality 28/100

Of which business quality 28 · Market factors (momentum, volatility) 9

Profitability 0
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−53.1%
Revenue growth 14 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
Profit margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−390.7% (2021) → −1,315.5% (2025)
What shareholders gained per year We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 648 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside +149% · Top 25%
Profitability
Return on assets −32% · Bottom 25%
Growth and dividend
Revenue growth 500% · Top 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 11.44× · Priciest 25%
P/S (TTM) 28.09× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 23

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $514.99 $566.49 +10%
Regeneron Pharmaceuticals, Inc REGN $803.90 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.24 A$197.16 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BeOne Medicines AG ONC $368.08 $280.94 −24%
BioNTech SE BNTX $100.87 $63.62 −37%

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Frequently asked questions

Is Dare Bioscience Inc (DARE) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $2.12 versus a price of $0.8500, about +149% upside (undervalued).
What is the fair value of DARE?
Our model-based fair value for Dare Bioscience Inc is $2.12 (as of Sep 13, 2026), built from audited fundamentals. The current price: $0.8500.
What is the quality score of DARE?
Dare Bioscience Inc has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dare Bioscience Inc (DARE)?
Our model-based price target is the fair value of $2.12 (as of Sep 13, 2026) from 1 valuation models. Cautious scenario $1.09, optimistic scenario $3.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Dare Bioscience Inc stock forecast for 2026?
Our models put fair value at $2.12, about +149% upside versus a price of $0.8500 (undervalued). Cautious scenario $1.09, optimistic scenario $3.14. The calculation is refreshed regularly with new filings.
What is the revenue of Dare Bioscience Inc (DARE)?
Dare Bioscience Inc reported trailing-twelve-month revenue of about $1.2M (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Dare Bioscience Inc (DARE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dare Bioscience Inc it is $2.12 per share (as of Sep 13, 2026), against a price of $0.8500. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Dare Bioscience Inc stock overvalued or undervalued in 2026?
As of Sep 13, 2026, DARE trades below its calculated fair value: price $0.8500, fair value $2.12, a gap of about +149% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DARE?
No. The price is what the market pays today ($0.8500); the fair value is what the company's own numbers justify ($2.12). For Dare Bioscience Inc the two are $1.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dare Bioscience Inc worth?
The market values Dare Bioscience Inc at about $32.5M (market capitalisation, as of Sep 13, 2026). Per share that is $0.8500; our models calculate a fair value of $2.12 per share.
What do the bullish and bearish scenarios say about DARE?
Our models span a range for Dare Bioscience Inc: cautious scenario $1.09, base $2.12, optimistic $3.14 per share (as of Sep 13, 2026, price $0.8500). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is DARE from its 52-week high?
Dare Bioscience Inc trades at $0.8500, about 78% below its 52-week high of $3.78 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $2.12 is for.
Which stocks are comparable to Dare Bioscience Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dare Bioscience Inc stock attractive at the current price?
The data as of Sep 13, 2026: price $0.8500, calculated fair value $2.12 (+149%), Quality Score 28/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DARE calculated?
We run Dare Bioscience Inc through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.12, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Dare Bioscience Inc currently trades 149 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dare Bioscience Inc (DARE)?
The closing price on Sep 22, 2026 was $0.8500. Our model-based fair value is $2.12, about +149% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dare Bioscience Inc right now?
The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($1.09). The market is more pessimistic than our downside scenario. The model range is unusually wide ($1.09 to $3.14). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Dare Bioscience Inc

How large is the market capitalisation of Dare Bioscience Inc (DARE)?
The market capitalisation of Dare Bioscience Inc is $32.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dare Bioscience Inc (DARE)?
The price-to-sales ratio of Dare Bioscience Inc is 28.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dare Bioscience Inc (DARE)?
Earnings per share at Dare Bioscience Inc are $−0.9100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Dare Bioscience Inc (DARE)?
The return on equity (ROE) of Dare Bioscience Inc is −2,543% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dare Bioscience Inc (DARE)?
On an EBIT basis the return on assets of Dare Bioscience Inc is −87.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dare Bioscience Inc (DARE)?
The operating margin of Dare Bioscience Inc is −1,967% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dare Bioscience Inc (DARE)?
Revenue at Dare Bioscience Inc is growing +500% versus a year earlier (3y avg −53.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Dare Bioscience Inc (DARE) generate?
The free cash flow of Dare Bioscience Inc is −$10.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Dare Bioscience Inc (DARE) hold?
Dare Bioscience Inc holds more cash than debt, $22.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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