Daré Bioscience (DARE) TD Cowen 46th Annual Health Care Conference summary

Strategic focus and market opportunity

• Dedicated to closing gaps in women's health by repurposing known pharmaceutical ingredients for new applications, targeting areas from contraception to menopause and infectious disease.

• Emphasizes economic and mission-driven reasons for investing in women's health, noting only 2% of healthcare research investment targets these conditions, despite 27% of high-revenue prescription brands being in this category.

• Leverages strategic partnerships, grant funding, and non-dilutive capital to expand reach and lower development costs.

Product pipeline and commercialization

• DARE to PLAY Sildenafil Cream for female sexual arousal disorder is launching imminently via a 503B compounding pathway, with prescription intake started and revenue expected in 2026.

• Ovaprene, a non-hormonal, once-a-month contraceptive ring, is in phase III trials with interim data showing a 9% pregnancy rate, comparable to diaphragms and hormonal contraceptives.

• DARE to RECLAIM, a once-a-month vaginal ring delivering estradiol and progesterone for menopause symptoms, is targeting launch via 503B in early next year, with phase III FDA discussions ongoing.

• DARE-HPV, a combination antiviral for HPV infection, has secured a $10 million ARPA-H contract and cleared IND for phase II, with additional grant funding expected this year.

• XACIATO, a one-time vaginal clindamycin gel for bacterial vaginosis, is FDA-approved and partnered with Organon for global commercialization.

Clinical innovation and upcoming launches

• Focuses on first-in-category products with strong clinical differentiation, such as topical sildenafil and non-hormonal tamoxifen for sexual pain in breast cancer survivors.

• Vaginal probiotics identified through Gates Foundation grants are set to launch later in the spring, manufactured under GMP and clinically validated.

• Over $75 million in grant funding awarded since 2018, supporting a broad pipeline across contraception, sexual health, fertility, and pregnancy maintenance.

• Next 12–18 months expected to be pivotal, with multiple product launches and clinical milestones anticipated.