How many more tests will there be? Do you think you have enough of an understanding of the material to pass the class if you study more and/or get help from the professor? How difficult are your other classes and do they take up a lot of time?
I made a 47% or something like that on the first test in a class that I needed for my major. That was a wake up call for me to prepare better, not wait until the night before to study, and study more for the future tests. I couldn’t drop it, or I’d fall behind (I couldn’t take the class at a CC - it was too specialized). The next test, I got the 2nd highest grade.
That being said, I did drop a computer science course and took it at the small college in my hometown the next summer. It WAS much easier there.
Either option is probably OK for you - it just depends on whether you want to work hard (and have the time for that) and get it over with, or spend part of your summer break taking a chem class.