Dare Bioscience, Inc. (DARE) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 18, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 66.86% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
15M
Potential Supply
0
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

DARE currently has 14.5M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 66.86% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 18, 2026

8-K filing: Daré Bioscience, Inc. completed the issuance of 50,000 units, each containing one share of Series A Convertible Preferred Stock and two warrants to purchase common stock, for a total offering price of $5.00 per unit. ($0.25M proceeds)

15M 0
May 14, 2026

10-Q filing | 14.5M shares outstanding

15M 0
May 07, 2026

8-K filing: Daré Bioscience, Inc. completed closings of its Regulation A offering of 195,010 units, with each unit consisting of one share of Series A Convertible Preferred Stock and two warrants, each to purchase one share of common stock, at a price of $5.00 per unit. ($0.98M proceeds)

15M 0
Apr 20, 2026

8-K filing: Daré Bioscience, Inc. completed a Regulation A offering of 20,000 units, with each unit consisting of one share of Series A Convertible Preferred Stock and warrants to purchase two shares of common stock, at a price of $5.00 per unit. ($0.1M proceeds)

15M 0
Apr 13, 2026

8-K filing: Daré Bioscience, Inc. completed a Regulation A offering of 3,470 Investor Units, each consisting of one share of Series A Convertible Preferred Stock and two warrants to purchase one share of common stock, at an offering price of $5.00 per unit on April 10, 2026. ($0.02M proceeds)

15M 0
Mar 26, 2026

10-K filing | 14.6M shares outstanding

15M 0
Mar 17, 2026

8-K filing: Daré Bioscience, Inc. completed a Regulation A offering of 43,050 units, with each unit consisting of one share of Series A Convertible Preferred Stock and two warrants, each to purchase one share of common stock, at a price of $5.00 per unit. ($0.22M proceeds)

14M 0
Mar 09, 2026

8-K filing: Daré Bioscience, Inc. completed the second closing of its Regulation A offering, issuing 17,500 Investor Units, each consisting of one share of Series A Convertible Preferred Stock and Investor Warrants to purchase up to 35,000 shares of common stock, at an offering price of $5.00 per unit. ($0.09M proceeds)

14M 0
Jan 29, 2026

8-K filing: Daré Bioscience completed the initial closing of a Regulation A offering, issuing 5,090 units, each consisting of one share of Series A Preferred Stock and two warrants, at a price of $5.00 per unit. ($0.03M proceeds)

14M 0
Nov 13, 2025

10-Q filing | 14.3M shares outstanding

14M 0
Aug 14, 2025

10-Q filing | 13.5M shares outstanding

13M 0
May 13, 2025

10-Q filing | 8.8M shares outstanding

8.8M 0
Mar 31, 2025

10-K filing | 8.5M shares outstanding

8.5M 76K
Nov 15, 2024

S-1 filing: This prospectus relates to the resale of common stock by Lincoln Park Capital Fund, LLC, with the company potentially receiving up to $15,000,000 in gross proceeds from sales to Lincoln Park under a purchase agreement.

8.5M 27K
Nov 14, 2024

10-Q filing | 8.5M shares outstanding

8.5M 0
Oct 21, 2024

8-K filing: Daré Bioscience, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $15.0 million in shares of its common stock and issued 137,614 shares to Lincoln Park in consideration for its commitment.

8.6M 0
Aug 12, 2024

10-Q filing | 8.5M shares outstanding

8.5M 0
Jul 01, 2024
Stock Split

8-K filing: Stock split 1-for-12 | Outstanding: 100,514,272 → 8,400,000

8.4M 0
May 14, 2024

10-Q filing | 100.5M shares outstanding

100M 0
Mar 29, 2024

S-3 filing: This is an S-3 filing for a shelf offering of up to 15,000,000 shares of common stock by selling stockholders.

100M 0
Mar 29, 2024

S-3 filing: Daré Bioscience, Inc. may offer shares of its common stock and preferred stock, various series of debt securities and/or warrants, rights or purchase contracts to purchase any of such securities, either individually or in units, with a total value of up to $200,000,000.

100M 0
Mar 28, 2024

10-K filing | 100.6M shares outstanding

100M 0
Dec 26, 2023

8-K filing: Dare Bioscience entered into a Royalty Interest Financing Agreement with United in Endeavour, LLC, selling the right to receive certain royalty payments for up to $12 million, and issued warrants to United to purchase up to 12,000,000 shares of common stock at an exercise price of $0.3467 per share.

91M 0
Nov 09, 2023

10-Q filing | 91.1M shares outstanding

91M 0
Aug 30, 2023

8-K filing: Daré Bioscience, Inc. entered into a securities purchase agreement for a registered direct offering of 10,000,000 shares of common stock and warrants to purchase 10,000,000 shares at a price of $0.70 per share and warrant, with gross proceeds expected to be $7.0 million. ($7.0M proceeds)

86M 0
Aug 10, 2023

10-Q filing | 86.4M shares outstanding

86M 0
May 11, 2023

10-Q filing | 85.5M shares outstanding

86M 0
Mar 30, 2023

10-K filing | 84.6M shares outstanding

85M 0
Nov 10, 2022

10-Q filing | 84.8M shares outstanding

85M 0
Aug 09, 2022

10-Q filing | 84.7M shares outstanding

85M 0
May 12, 2022

10-Q filing | 83.9M shares outstanding

84M 0
Mar 31, 2022

10-K filing | 83.9M shares outstanding

84M 0
Nov 10, 2021

10-Q filing | 70.8M shares outstanding

71M 0
Aug 12, 2021

10-Q filing | 70.5M shares outstanding

71M 0
May 13, 2021

10-Q filing | 49.4M shares outstanding

49M 0
Mar 30, 2021

10-K filing | 47.3M shares outstanding

47M 0
Mar 30, 2021

S-3 filing: Registration of common stock, preferred stock, debt securities, warrants, rights and purchase contracts with an aggregate initial offering price not to exceed $200,000,000, including unsold securities from a previous registration.

42M 0
Jan 05, 2021

S-1/A filing: This S-1/A filing details an equity line of credit with Lincoln Park where the company may sell up to $15.0 million of common stock, with approximately $7.0 million remaining available under the agreement as of the filing date.

42M 0
Dec 23, 2020

S-1/A filing: This S-1/A filing relates to a purchase agreement with Lincoln Park, where Lincoln Park agreed to purchase up to $15.0 million of common stock. As of the prospectus date, $7.4 million of common stock has been purchased. The company may sell up to 19.99% of shares of common stock outstanding immediately prior to the execution of the Purchase Agreement.

41M 0
Dec 22, 2020

S-1 filing: This S-1 filing describes a purchase agreement with Lincoln Park, where Lincoln Park agreed to purchase from the company up to an aggregate of $15.0 million of common stock and issuance of Commitment Shares.

41M 0
Nov 12, 2020

10-Q filing | 38.0M shares outstanding

38M 0
Aug 12, 2020

10-Q filing | 31.6M shares outstanding

32M 5.6M
May 15, 2020

S-3 filing: This is an S-3 filing for the registration of 5,008,917 shares of common stock for resale by selling stockholders, acquired in connection with the acquisition of Microchips Biotech, Inc.

27M 11M
May 14, 2020

10-Q filing | 26.6M shares outstanding

27M 5.5M
May 01, 2020

S-1 filing: This S-1 filing registers for resale 7,500,000 shares of common stock by Lincoln Park Capital Fund, LLC, the selling stockholder, pursuant to a purchase agreement for up to $15,000,000 of common stock.

25M 7.2M
Mar 27, 2020

10-K filing | 24.7M shares outstanding

25M 0
Feb 05, 2020

8-K filing: Daré Bioscience, Inc. reports regaining compliance with Nasdaq Listing Rule 5550(b) due to completed transactions in November 2019 and January 2020, including the acquisition of Microchips Biotech, Inc. and the sale of common stock and exercise of warrants. ($6.8M proceeds)

25M 0
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