Is Daré Bioscience, Inc. overvalued or undervalued?

As of 13 May 2025, the valuation grade for Daré Bioscience, Inc. has moved from risky to does not qualify, indicating a significant deterioration in its financial standing. The company is currently considered overvalued, with a Price to Book Value of -2.96 and an EV to EBITDA of -1.13, both of which reflect negative financial metrics. Additionally, the company's P/E ratio is not applicable due to its loss-making status.
In comparison with peers, Daré Bioscience's valuation metrics are notably worse than those of Rezolute, Inc., which has a P/E of -4.90 and an EV to EBITDA of -3.46, and SELLAS Life Sciences Group, Inc., with a P/E of -5.74 and an EV to EBITDA of -4.57. The stark contrast in these ratios suggests that Daré is not only underperforming relative to its peers but also struggling to establish a viable valuation. Furthermore, the company's stock has significantly lagged behind the S&P 500, with a one-year return of -50.90% compared to the index's 10.26%, reinforcing the notion of overvaluation.