UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On July 7, 2022, Daré Bioscience, Inc. (“Daré,” “we,” “us,” or “our”) received a grant payment of approximately $7.96 million from the Bill & Melinda Gates Foundation (the “Foundation”). The payment was made pursuant to our grant agreement with the Foundation, dated as of June 30, 2021 (the “Grant Agreement”), under which we may receive up to a total of $48.95 million to support technology development and preclinical activities over the period of June 30, 2021 to November 1, 2026 (the “Grant Period”) to advance DARE-LARC1 in nonclinical proof of principle studies. As of July 7, 2022, we have received a total of approximately $19.41 million in non-dilutive funding under the Grant Agreement.
Additional payments under the Grant Agreement are contingent upon the DARE-LARC1 program’s achievement of specified development and reporting milestones during the Grant Period.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DARÉ BIOSCIENCE, INC. | ||
| Dated: July 7, 2022 | By: | /s/ Sabrina Martucci Johnson |
| Name: | Sabrina Martucci Johnson | |
| Title: | President and Chief Executive Officer | |