DARE - Earnings call 3 2023 | Daré Bioscience, Inc.

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Operator

Welcome to the conference call hosted by Dare Bioscience to review the company's third quarter financial results and to provide a general business update. This call is being recorded. My name is Chris and I'll be your operator for today.With us today from Dare are Sabrina Martucci Johnson, President and Chief Executive Officer; John Fair, Chief Commercial Officer; and Lisa Walters-Hoffert, Chief Financial Officer.Ms. Johnson, please proceed.

Sabrina Johnson

Thank you. to for Bioscience XX, the welcome Business Results XXXX. and Call Update quarter afternoon the Financial Dare and Good ended September Securities developments of statements like are the to Reform Today results XXXX. you laws, that Litigation pipeline our which review will remind the meaning portfolio.Before and include safe of discussion discuss securities forward-looking and I'd we to our the of expectations harbor made begin, third we Private pursuant today's provisions for within will Act and quarter federal statements that uncertainties. statements Any these considered are statements of those events made results could from and by statements.Actual implied due be should to not anticipated during this or materially differ known call historical and forward-looking or risks facts unknown

on not undue statements. should place reliance forward-looking You

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John Fair

you, Thank Sabrina.

dose female States. the or antibiotic and treatment older indicated XACIATO As age Phosphate vaginal vaginal for patients years in XX vaginosis reminder, single the of bacterial is gel of administration a lincosamide United in Clindamycin for BV

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Lisa Walters-Hoffert

of third unmet Thank quarter now story, monetize is portfolio build clinical portfolio's to business identified in costs like summarize of the development Dare's meaningful joining would course overhead, needs portfolio value I who women's of near- candidates strategy over for you, of everyone thanks to that product and those ongoing of the advances results long-term.The us financial and and to that differentiated are and then advance portfolio the assemble research XXXX.For and our maintenance includes newer we've address a expenses. required advance the acquisition Dare's to and today. or a R&D to health in for investment regulatory you corporate and John, and

across million, Organon. expenses, IIb Ovaprene's $X.X So on and G&A largely the III quarter portfolio the administrative general recognized I to R&D our or vary related our of Sildenafil approximately have Cream manufacturing our XXXX, entire clinical, regulatory clinical expenses $X quarter, during also revenue expenses activities period-to-period costs of third expenses, Phase license third from affairs study.While quarter and note were XXXX.Our during trial with comments we that activities planned the and my focused million G&A agreement were Phase during reflect the primarily regulatory and third $X.X unchanged from preclinical, approximately related recognized fee the manufacturing, under million which and license other global based should our on of to

quarter fourth quarter million. approximately ended XXXX, launch of and the for of outstanding.So we a we payment the $X.X under $XX.X November million was shipment equivalents Our shares with during XX.X Organon, cash U.S. quarter comprehensive stock X, its common the loss of the We our million as result third in cash in approximately approximately in third and a $X.X had receive as of quarter. the XACIATO will million license the to with agreement commercial with first connection milestone of moving

will thrilled recognize It by we additional in are that over have efforts remarks to made exploring and challenging but when the and look XACIATO's seeking Dare additional statements on I net progress revenues product have sales. saying estimated sales lean-in leading fiscal potential a compromising net our ahead costs and are investing on reflecting forward up begin based we moment our to of where current for review Dare as tiered U.S. as our without of receive the our do to Thereafter, $XXX double-digit goes the our so in royalties in milestones time.Now candidates. months our focus is a inception, so closely.In and top commenced million costs a strategy, a Dare will financial market, without have my business reduce well costs it cultivating to sales the Since now Organon, managing strategy. all responsibility from stakeholders.I at reporting to started available review our on the XACIATO appropriate that now royalties XACIATO's priority, to appropriate reduced we overhead and we feels and take financial maintaining focus team appropriate, with that opportunities

have creative capital. other range opportunities to.Based options and we more to-date, our that on and We raise companies to access innovative advancement vehicles including our of the a high-quality depth not and pursuing we've of our pipeline been at are looking portfolio, fund wide actively by conversations portfolio and may are to [indiscernible]

said previously Sabrina endeavor value.Again, capital our seeking sales, meet and are but alliances. shareholder to we've opportunistic we objectives to the in we non-dilutive agreements, license many not collaborations programs, structured collaborative to grants as and and that these needed to As include creative, limited and a be and of will to finance build obtained similar financings have to just those our as strategic reminder, preclinical equity noted,

and candidates, We encourage our to our financials, operator XX, Form and risk to the our XXXX, our capital September in Form financial which continue well turn discussion the year call have the XXXX, condition, XX-Q to explored for on over for detailed value March today, X, the of was explore in the as ended variety filed read December the a on as our annual report investors will factors to Q&A. of was XX, filed ended options now fund shareholder XX-Q like value.We operations, resources XXXX.I assets quarter monetize for liquidity, would and to advance of build more our which

Operator

Catherine The [Operator first from Novack Instructions] question with is JonesTrading.

Catherine Novack

Ovaprene. on couple A

is The enrollment first updates you that endpoints is, see the some might possible potentially plan periodic readout? do on top regarding before data it expect the issue line to to of we updates and efficacy

Sabrina Johnson

starting. for obviously for We're and thank very excited thanks with study great the you Hi, asking the about Ovaprene. questions

of terms intention. is In providing definitely updates, our that

the long guided the really which rate. Ovaprene As is XX the we've to study terms of the beyond using this enrollment reminder period.And so to that's how will cycles, be comes it that duration a take as months, about study in how the will in study -- women people, course as down that, is of we've long over XX

to do as progresses. really we study So informed people want the keep

keep contraceptive study data intent.The data now that's it a in as in in because in pregnancy you're fantastic first of enrollment as means and study, get have disseminate noted time.Having right and first that there's to suitable So well updated definitely patient any said comments, is that. we that, our Ovaprene for looking a probably a the completed. terms that study before everyone really then Ovaprene, you announcement enrolled to information question And which we you'll is that the as that's progresses gets intend studies not providing do as updates, is necessarily the is rates on non-comparative over everyone's at plan people

of the However posted who that are as and we doing merits that where we study might of you collaborators on the is at something certainly with well. a will that that us with terms discussing on not makes our keep NICHD collaborating there whether be situation are sense, there -- that so the in

Catherine Novack

you estimated to this of some Ovaprene it's extent cost the And NICHD? Great. by part study in remind what funded can us and already

Sabrina Johnson

Yes.

So thank as that be asking a Phase it's the have just paid you we can III that already for. so in to questions for do to starting of because actually and everyone reminder a we study that for a position kind nice

works way research providing that towards already an we with million of study.And And Clinical the working cost so resources is is provided agreement NICHD of into is the obviously And the the on works the cost the the these right the with cover then now the sites collaborative of NICHD that Trials basically create XX we're Network, $X studies. the to under NICHD account have the as Contraceptive through which study. types well

It's that, add they to and and programs, studies.In with the might needs costs get to what they obligates obviously currently. funding was and them about contracts, touched we way the the do the this funded happens we obviously of that's for for study provide and underway to the circumstances, if been like on that of their in the for us felt a on right now And the under shutdown, a work these sites if quarter and really provided -- there's even is our anticipated questions or just additional we funds and till wanted based potential NICHD the just government related but the their what contracts, is always things based also we does instance, really next NIH actually of with it determination so planned funding kind the even there's to CRO XX-Q way year. our costs those on through partner on funding third our of that our terms out

right study. that's So the plan with now the

Catherine Novack

helpful. on can I in if Okay. And then get Cream. just That's one more Sildenafil

So Are studies. moving into with you're did think Ovaprene product do or pivotal this and it XACIATO, what discussions? either you start having And U.S.-based? point considering makes sense to you as partnering you those at partnerships regional

Sabrina Johnson

way that sexual so there's it's product program. programs.So entered arousal III with different lot Yes, talked so hope including registration. noted, nothing of women's entered very interest XACIATO, as disorder after collaboration Organon Phase proud stakeholders. partnerships different collaboration for in those into There from product interesting that Every of we approved we some lot an a given the or of with program is the was you taken noted a And leaders through program, into the very is and as trial in in entered that Ovaprene, we're about female that before upfront, Bayer. and you've different we with as through noted, whereas all given Cream health that collaboration we've as everything times the are we've I is interesting today.Sildenafil -- on different, into we obvious a in it's obviously Organon

sense different I terms well.So which build makes can we at aspects as value the myself in at always where shareholders shareholder greatest As a a am ultimately what we possibilities. company, the we and of look all the most look for

different historically, program. you've as considered times a at of in we've the so And partnerships seen trajectory

of nice As advance.When our look place activities, no something there treatments, but ways like first-in-category talk build -- that Lisa there's way at fund practice in are time product program all it, every talk it's and Cream, sense Dare that in puts we've being the to partnership what's certainly partnerships should And all about much possibilities can we don't things really about a Dare the have about what are it able commented, with is a funding it that FDA-approved we and obviously had makes like and is to then nice that.So program think our we we the and strategic -- in also is consider and I stress a makes but a non-dilutive a portfolio certain for those shareholders. right value. about interest given and in very we sense, would for of Sildenafil position

Operator

is question next Tsao H.C. from The Douglas Wainwright. with

Douglas Tsao

partner, in Phase those stakeholders interest terms voice along in a has clinical of seeking Sabrina, lines with design of development could lot such and the a Because sort program a any of III different novel you've Cream is it expressed helping Sildenafil spoken program? a obviously program directions? in of of that having in the the go

Sabrina Johnson

question. another great Yes,

of has really Dare women's as where Dare and in is say leader and who And area. the particularly women's thought seen and we're work quite health not in and has we're than population.And in thought much say are could sexual way, category very patient design this about couldn't what is makes that II have, do exploratory think end come a which thrilled be What in frankly, I them know So I study every really to women the in step the very the I other trial program the take in in and the endpoints? up many companies the disorder be done out Phase this to field say Phase defined will can you really dysfunction to The sexual the way more a all in and a like organization forward arousal health roadmap thought first, health, know design a and about with right? that we with more looked leader of to ever have therapeutic this area, How the not, state to was to think that in we really much the it's say in we may in kind population? meeting the study to particular, and categorize work work into on closely want done III the and but the may done or of come field looks end a seen position FDA this we've Sildenafil people but in of that the as study?So of endpoints we Phase of study a leaders if patient take may what know having Doug, IIb back think the this first sense.So the III in IIb just sexual boasty I program wonderful that certainly have really because Cream of as we've specifically say with in Cream Phase the and that.And I patient for to as its basically the to thought the for this other development reality, was as has lot of a the already Phase program, prepare this the we've the work the not it on leaders a do work with be the a right, of with like, end result, this now say anyone really a population Sildenafil able Dare have I conducted that had to and lot of all I leaders. experts to and FDA

Douglas Tsao

Sabrina, we And there That's Ovaprene, is Great. focused obviously preventing any just basically on? the on primary should be really I endpoint in Are other pregnancy. study guess endpoints that helpful.

Sabrina Johnson

Thanks asking that. for

the lot we're study. a lot and kind hand a we you I hoping to cut pregnant, design of the be one to in or there one, that report this work similarly study to convenience data the a we product, of we aspects findings, are an on really is those that ultimately again, this as from that it's be collect trial, on whether safety using well as and contraceptive kind experience of with nature.So collecting the we that demonstrate in that And well the do of a technology, related as there mean, someone dissipate, the of number endpoints the experience in will commercialization, I you're of because and this usability so safety, perspective we of safety as in Bayer and product it's that Ovaprene around this when it are with around experience at looking useful the about and also with product. the her diary use useful, right, of innovative, John's about but know, trials have are that collecting that disruptive in this very Now so to absolutely product of we're around terms on of we number electronic much also things alluded product, -- such sure aligned sort not it's to point additionally, because closely gets experience in my of study Bayer is of a did and captured with data questions the a dry. efficacy. comments, her once-a-month things the as really would make But have really of again, her worked very product, then with patient's insights.And the her study there very to in Bayer are

Operator

at this it further I'll closing for back remarks. no Ms. any questions time. We Johnson turn have to

Sabrina Johnson

so unmet appreciate in where of Great. and the and I time prioritizing to season, none are hear the quality who to women's them.And expand the persistent addressing treatments dialing we year, Well, busy working and by all the heard afternoon. we women's to improve you about our life women. thank our health, today. women Dare options needs. to bring to it's We're drive We our the improve you we Thank health collaborators, we uniquely health.And exist women's taking unmet leading of these talked or much. Bayer, you standard current including recent for progress earnings value by for address needs to on to I as updates updated this in Thanks, know you ultimately, closely need keeping today, working Organon in a care stakeholders wellbeing today positioned for toward believe you. treatment of time with commitment forward discussed our around everyone, look ongoing to milestones of world players about we millions of are so

Operator

concludes this today's Thank and Ladies gentlemen, call. you participating. for conference

You disconnect. may now

Daré Bioscience (DARE) 9 Nov 232023 Q3 Earnings call transcript