SECURITIES AND EXCHANGE COMMISSION
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|Notice of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, on July 19, 2023, Daré Bioscience, Inc. (the “Company”) received a letter from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock was below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Company was provided an initial period of 180 calendar days, or until January 16, 2024, to regain compliance with the Minimum Bid Price Requirement.
On January 17, 2024, the Staff notified the Company that because the Company did not timely regain compliance with the Minimum Bid Price Requirement, the Company’s common stock is subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearing Panel (the “Panel”).
The Company will timely request a hearing before the Panel, which request will stay the delisting of the Company’s common stock pending the decision of the Panel following the hearing and the expiration of any extension period that may be granted by the Panel. Pursuant to published Nasdaq guidance, hearings are typically scheduled 30 to 45 days following the hearing request, with the Panel typically issuing decisions within 30 days of the hearing.
There can be no assurance that the Company will be successful at the hearing or that the Company will be successful in maintaining the listing of its common stock on The Nasdaq Capital Market.
This report contains forward-looking statements, including, but not limited to, the timing of the hearing and the timing of the decision of the Panel. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied by such forward-looking statements. In particular, the hearing may be scheduled, and the Panel may issue a decision, more quickly than expected based on the typical time periods in published Nasdaq guidance, which shorter timeline(s) may be unfavorable for the Company and the continued listing of the Company’s common stock on The Nasdaq Capital Market. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. The Company undertakes no obligation to update any forward-looking statement in this report, except as required by law.
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: January 19, 2024
|/s/ Sabrina Martucci Johnson
|Sabrina Martucci Johnson
|President and Chief Executive Officer