v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 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
June 30,		Six Months Ended June 30,
2026202520262025
Revenue:
Research and development services and royalty revenue
$187,546 $(21,172)$340,001 $4,255 
Total revenue187,546 (21,172)340,001 4,255 
Cost of revenues319,889 — 562,214 — 
Segment operating expenses:
Research and development:
Direct program costs:
Ovaprene (1)
843,503 1,316,372 2,075,263 2,812,101 
Sildenafil Cream (2)
134,769 49,881 202,560 261,270 
Other advanced clinical stage programs1,244,028 975,489 1,619,791 1,466,051 
Phase 1 and Phase 1-ready clinical stage programs (1)
164,068 628,595 260,123 1,125,342 
Preclinical stage programs1,457,723 1,718,320 2,626,102 2,767,058 
Personnel-related (including stock-based compensation)1,084,019 1,209,437 2,276,881 2,701,684 
Contra-R&D expenses (3)
(4,017,949)(3,780,794)(7,087,095)(6,399,167)
Total research and development direct program costs910,161 2,117,300 1,973,625 4,734,339 
Indirect costs:
Other indirect costs30,654 70,462 59,500 199,196 
Contra R&D expenses(698,849)(759,000)(1,130,697)(1,207,392)
Total research and development indirect costs(668,195)(688,538)(1,071,197)(1,008,196)
Total research and development241,966 1,428,762 902,428 3,726,143 
Selling, general and administrative2,593,671 2,377,866 4,842,237 4,687,030 
Total segment operating expenses2,835,637 3,806,628 5,744,665 8,413,173 
Loss from operations(2,967,980)(3,827,800)(5,966,878)(8,408,918)
Interest expense190,965 268,532 390,359 402,583 
Interest income(176,145)(69,847)(367,833)(226,469)
Other income, net
27 10,002 6,742 190,242 
Net loss$(2,982,773)$(4,016,483)$(5,982,662)$(8,394,790)
(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 June 30, 2026 and 2025: (a) Ovaprene, $0.8 million and $0.4 million, respectively; (b) other advanced clinical stage programs, $1.3 million and $1.0 million, respectively, (c) Phase 1 and Phase 1-ready clinical stage programs, $0 and $0.1 million, respectively; and (d) preclinical stage programs, $1.9 million and $2.2 million, respectively.
These contra R&D expenses were recognized as follows for the six months ended June 30, 2026 and 2025: (a) Ovaprene, $1.7 million and $0.9 million, respectively; (b) other advanced clinical stage programs, $1.8 million and $1.5 million, respectively, (c) Phase 1 and Phase 1-ready clinical stage programs, $0 million and $0.2 million, respectively; and (d) preclinical stage programs, $3.6 million and $3.8 million, respectively.