v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company and the Company’s chief operating decision maker view the Company’s operations and manage its business in one operating segment, which is the business of identifying, developing and commercializing pharmaceutical products that target unmet needs in women's health. The CODM, who is the chief executive officer (“CEO”), manages and allocates resources to the operations of the Company on a consolidated basis. The Company’s measure of segment profit or loss is net loss. Managing and allocating resources on a consolidated basis enables the CEO to assess the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with the Company’s long-term company-wide strategic goals. Consistent with this decision-making process, the CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. Operating expenses are used to monitor budget versus actual results. The CODM does not review assets in evaluating the results of the Company, and therefore, such information is not presented. In addition, substantially all of the Company's revenue was generated in the United States and substantially all of the Company's long-lived assets reside in the United States.

The following table summarizes the segment's financial information including the Company’s significant segment expenses:
Three Months Ended
March 31,
20262025
Revenue:
Research and development services and royalty revenue
$152,455 $25,427 
Total revenue152,455 25,427 
Cost of revenues242,325 — 
Segment operating expenses:
Research and development:
Direct program costs:
Ovaprene (1)
1,231,760 1,495,727 
Sildenafil Cream (2)
67,791 211,389 
Other advanced clinical stage programs375,763 490,562 
Phase 1 and Phase 1-ready clinical stage programs (1)
96,055 496,747 
Preclinical stage programs1,168,379 1,098,738 
Contra-R&D expenses (3)
(3,069,146)(2,618,373)
Total research and development direct program costs(129,398)1,174,790 
Indirect costs:
Personnel-related (including stock-based compensation)
1,192,862 1,492,248 
Other indirect costs28,846 78,735 
Contra R&D expenses(431,848)(448,392)
Total research and development indirect costs789,860 1,122,591 
Total research and development660,462 2,297,381 
Selling, general and administrative2,248,566 2,309,164 
Total segment operating expenses2,909,028 4,606,545 
Loss from operations(2,998,898)(4,581,118)
Interest expense199,394 134,050 
Interest income(191,688)(156,621)
Other income, net
6,715 180,240 
Net loss$(2,999,889)$(4,378,307)
(1)The applicable program(s) receive grant funding and/or the Tax Incentive. The amount of R&D expense for the period indicated is shown on a gross basis (i.e., without deducting the amount of contra R&D expense for the applicable program(s). See footnote (3) below.
(2)The amount of expenses includes expenses for Sildenafil Cream, 3.6% and DARE to PLAY Sildenafil Cream.
(3)These contra R&D expenses were recognized as follows for the three months ended March 31, 2026 and 2025: (a) Ovaprene, $1.0 million, and $0.5 million, respectively; (b) Other advanced clinical stage programs, $0.4 million and $0.5 million, respectively, (c) Phase 1 and Phase 1-ready clinical stage programs, $0 and $0.1 million, respectively; and (d) Preclinical stage programs, $1.7 million and $1.6 million, respectively.