Slide 1: Corporate Presentation: July 25, 2022
Daré Bioscience NASDAQ: DARE www.darebioscience.com b darébio DARE Corporate Presentation: July 25, 2022 IN ITALIAN, IT MEANS “TO GIVE.” IN ENGLISH, IT MEANS “TO BE BOLD.” ©2022 Daré Bioscience | All rights reserved
Slide 2: Forward-Looking Statements; Disclaimers
Forward-Looking Statements; Disclaimers CE Ee) Pe) Be ot | Via ii | | | | 1 | | ' Be es es em This presentation is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities of Daré Bioscience, Inc. ("Daré” or the “Company”). This presentation inc
Slide 3: Women's Health is Our Sole Focus
Women’s Health is Our Sole Focus Daré Bioscience is a biopharmaceutical company committed to addressing the lack of innovation in women’s health with differentiated products that address unmet needs primarily in the areas of contraception, fertility, and vaginal and sexual health. We work to acceler
Slide 4: Women's Health - Compelling Markets Where Innovation Matters
s Health - Compelling Markets Where Innovation Matters as hormonal monthly IVR, NuvaRing, ~$900M at peak re Contraception —~65 Million women ages 15-44? 1* hormonal IUD, Mirena franchise, ~$1.2B at peak? _| “\ a* copper IUD, still ~s200M/yr 40 years post launch* ide Ss - Bacterial vaginosis affects
Slide 5: Daré Portfolio — The Big Ideas
- Ovaprene® - ADARE-204/214 - DARE-LARC1 - DARE-RHa Contraception - XACIATO™ Vaginal Health pape upts - DARE-VVAa - Sildenafil Cream, Sexual Health 3.6% Fertility - DARE-FRT1/PTB2 - 1% Hormone-free, Monthly Contraception - 1% 6 & 12-Month Injectable Contraception - 1% Long-Acting, Reversible Persona
Slide 6: Daré Bioscience: A Compelling Opportunity
Daré Bioscience: A Compelling Opportunity Program Milestones in 2022* include a product launch, 2 data readouts, and a Phase 3 initiation First-line or first-in-category product opportunities across the portfolio Commercial launch in the U.S. in 40 2022 One FDA-approved product and several clinical
Slide 7: Advancing Products Women Want - The Portfolio Snapshot
Advancing Products Women Want - The Portfolio Snapshot ) darébio PHASE 3/ REGULATORY FDA PIVOTAL SUBMISSION APPROVED PRE-CLINICAL PHASE 1 PHASE 2 XACIATO™ Bacterial Vaginosis NDA Approved Dec. 7, 2021 Ovaprene® Hormone-Free, Monthly Contraception Pivotal Phase 3 Study to Commence 2022* Sildenafil Cr
Slide 8: Advancing Products Women Want - Late Stage Programs
Advancing Products Women Want - Late Stage Programs XACIATO™ (clindamycin phosphate) vaginal gel, 2% Treatment for bacterial vaginosis Self-administered once intravaginally as a single dose at any time of day Bacterial Vaginosis NDA Approved Dec. 7, 2021; U.S. launch expected Q4 2022 * XACIATO is in
Slide 9: Advancing Products Women Want - Phase 1/2 Programs
Advanc ing P Hormone Therapy - Phase 1 Completed; Phase 2/2 Study Commenced 20 2022 1. First-in-category combination hormone delivery for treatment of vasomotor and vaginal symptoms of menopause. 2. _ Intravaginal ring (IVR) designed to release bio-identical estradiol and bio identical progesterone
Slide 10: Daré: Advancing Products Women Want
Daré: Advancing Products Women Want Innovative women’s health pipeline with multiple clinical, regulatory and commercial milestones anticipated in 2022. Every program, if approved, represents a potential first-line or first-in-class product opportunity. va Experienced Board of Directors and Manageme
Slide 11: Experienced Management & Board of Directors
Experienced Management & Board of Directors Management Team Sabrina Martucci Johnson, MSc, MIM President & CEO John Fair Chief Strategy Officer Lisa Walters-Hoffert Chief Financial Officer David Friend, PhD Chief Scientific Officer Christine Mauck, MD, MPH Medical Director Annie Thurman, MD, FACOG M
Slide 12: XACIATO FDA approved for treatment of bacterial vaginosis
FDA approved for the treatment of bacterial vaginosis, the most common vaginal condition in women of reproductive age One-time intravaginal administration XACIATO is indicated for the treatment of bacterial vaginosis in females 12 years and older. See Full Prescribing Information for the safe and ef
Slide 13: Bacterial Vaginosis
Bacterial Vaginosis y », * — Recurring infection, difficult to treat effectively ) * Most common vaginal condition in women ages 15-44 * — Affects ~21 million women in the US? + Bacterial Vaginosis increases health risks?, including increased risk of preterm birth, sexually transmitted infections, p
Slide 14: XACIATO: Overview
XACIATO: Overview > XACIATO [zah-she-AH-toe] (clindamycin phosphate) vaginal gel, 2% is a lincosamide antibacterial indicated for the treatment of bacterial vaginosis in female patients 12 years of age and older. QIDP, Fast Track and Priority Review > This marks the first FDA-approved product in Dar
Slide 15: XACIATO - Commercial License Agreement with Organon
XACIATO - Commercial License Agreement with Organon+ March 2022 — Organon and Daré announced they entered into an /— agreement whereby Organon will license * The license became effective June 2022. global rights to XACIATO. The license : ¢ Daré received a $10 million upfront payment from Organon bec
Slide 16: XACIATO Important Safety Information
XACIATO Important Safety Information* +Indication XACIATO (clindamycin phosphate) vaginal gel is a lincosamide antibacterial indicated for the treatment of bacterial vaginosis in female patients 12 years of age and older. «Dosage & Administer one applicatorful (5 g of gel containing 100 mg of clinda
Slide 17: XACIATO Use in Special Populations
XACIATO Use in Special Populations* + Special Populations + Special Populations «Special Populations Other clindamycin vaginal products have been used to treat pregnant women during the second and third trimester. XACIATO has not been studied in pregnant women. However, based on the low systemic abs
Slide 18: Ovaprene: Investigational potential first-in-category, hormone-free, monthly birth control
Investigational potential first-in-category, hormone-free, monthly birth control U.S. Commercialization Collaborator: (afen) Phase 3 Development Collaborator: NIHY)
Slide 19: Contraception: Large Market Opportunity
Contraception: Large Market Opportunity Successful Contraceptive Brands Peak Sales: Women in the Reproductive Health & Contraception Market Segment (over 60 million women) 7 Total US Females Age 15-4 (Maons) Female 090 16-44 AH) Yeot Source: US Census Bureau, 2017 National Dataset (2036 is base popu
Slide 20: Ovaprene Market Opportunity
Ovapr' rket Opportu There are approximately 65 million women in the US Aged 15-447 30 Million Women?3 Not candidates for Ovaprene® Currently use no contraception Sexually active Pill (10.3M) Injectable (1.5M) Vaginal Ring (a.0M) Sterilization (10.5M) ¢Pregnant/postpartum/ seeking ; regnancy (5.6M) I
Slide 21: Contraception: What's Missing
Contraception: What's Missing Current Hormone-Free Option Hormone-free Options inreonancies Expected (per 100 women) ** Least Effective Spermicides >27 & Vaginal Gels? Condoms (male) 18 Diaphragms Vo (with a spermicide) a2: Easy-to-use ly Effectiveness approaching option hormonal methods | Copper IU
Slide 22: Ovaprene Investigational Hormone-Free, Monthly Contraceptive
Ovaprene® Investigational Hormone-Free, Monthly Contraceptive Desired Features of Physical Barrier ® Birth Control Products:** Design Features of Ovaprene:>” Three-dimensional, knitted polymer barrier +Effica cy 86% - 91% Expected Typical Use Effectiveness Approaching User-Controlled Hormone Contrac
Slide 23: Ovaprene - Commercial License Agreement with Bayer
Ovaprene® - Commercial License Agreement with Bayer* January 2020 - Bayer, which markets the / Bayer received the right to obtain exclusive US rights to $1 billion Mirena contraceptive franchise, commercialize the product, following completion of the and Daré announced the execution of a pivotal cli
Slide 24: Ovaprene - Collaborative Research Agreement with NIH
Ovaprene?® - Collaborative Research Agreement with NIH? July 2021 Daré announced that funding and (oe pwvotaliPhase 3 study will be supported by the NICHD’s Contraceptive Development Program which oversees the Contraceptive Clinical Trial Network (CCTN) established in 1996 to conduct studies of inve
Slide 25: Ovaprene - U.S. Regulatory Strategy
Ovaprene?® - U.S. Regulatory Strategy* Premarket approval (PMA) strategy — The Center for Devices and Radiological Health (CDRH) as lead review division The PCT Clinical Study Metts Primary Endpoint Ovaprene prevented the requisite number of sperm from reaching the cervix across all women and all cy
Slide 26: Potential First-In-Category treatment for Female Sexual Arousal Disorder
Potential First-In-Category treatment for Female Sexual Arousal Disorder (FSAD), which has no FDA-approved therapies Novel cream formulation of sildenafil to treat FSAD, utilizing active ingredient in Viagra®
Slide 27: FSAD - The Clinical Issue
FSAD - The Clinical Issue : Female Sexual Arousal Disorder (FSAD) is characterized primarily by inability to attain or maintain sufficient : genital arousal during sexual activity and, of female sexual function disorders, is most analogous to erectile : dysfunction (ED) in men.* FSAD - HSDD : The co
Slide 28: FSAD — What is the incidence?
FSAD — What is the incidence? “Ay Meta-analysis of 95 studies from 2000-2014 indicated prevalence of Female Sexual Dysfunction in premenopausal women worldwide is 41%, and difficulty with arousal alone is 23%.* >\ Market research estimates: > 33% of US women aged 21 to 60 (~ 20 million women), exper
Slide 29: Sildenafil Cream, 3.6% - Product Profile
Sildenafil Cream, 3.6% - Product Profile Topically administered investigational Sildenafil Cream? is... >A PDEs inhibitor utilized in ED medications for men — ED product Viagra® peaked at $2.05 billion in sales in 2012.7 » Designed to increase local blood flow to provide improvement in genital arous
Slide 30: Sildenafil Cream, 3.6% - Phase 2b
Sildenafil Cream, 3.6% - Phase 2b Ongoing Phase 2b clinical study aims to evaluate Sildenafil Cream vs. placebo over 12 weeks of dosing following both a non-drug and placebo run-in period. > Compares Sildenafil Cream vs. placebo used in patients’ home setting. > Primary endpoint: patient reported ou
Slide 31: Oral Sildenafil provided a compelling proof of concept for FSAD
Oral Sildenafil provided a compelling proof of concept for FSAD Statistically significant increases in Vaginal Pulse Statistically significant improvement in genital | ~ : - + Question #2 - “After taking study medication, the Amplitude (VPA) stimulation (FIEI)* sensation/feeling in my genital (vagin
Slide 32: Sildenafil Cream, 3.6% - Phase 1 and Phase 2a Study Results
Sildenafil Cream, 3.6% - Phase 1 and Phase 2a Study Results Phase 2 Study Phase a Study of SST-6007 (Sildenafil Cream, 3.6%)* Parameter Treatment Level Normal healthy postmenopausal women were dosed with escalating 1g cream 2g cream 4g cream doses of Sildenafil Cream, 3.6%, using a cross-over study
Slide 33: Sildenafil Cream, 3.6% - Thermography Study Results
Sildenafil Cream, 3.6% - Thermography Study Results* Demonstrated time to effect (See Figure 1) Figure 1. Clitoral temperature change during the sexually explicit film ae = 3 Positive cognitive arousal responses Sildenafil Cream were noted. 25 Placebo Cream Significantly greater increases in genital
Slide 34: Phase 1/2 and Preclinical Programs
Phase 1 and Preclinical Programs New investigational prescription drug delivery options for women
Slide 35: Advancing Products Women Want - Phase 1/2 Programs
Advanc ing P Hormone Therapy - Phase 1 Completed; Phase 2/2 Study Commenced 20 2022 1. First-in-category combination hormone delivery for treatment of vasomotor and vaginal symptoms of menopause. 2. _ Intravaginal ring (IVR) designed to release bio-identical estradiol and bio identical progesterone
Slide 36: Intravaginal Ring (IVR) Technology Highlights
Intravaginal Ring (IVR) Technology Highlights The Vaginal Route of Drug Administration? Our IVR Technology — Design Features: > Vaginal drug delivery offers many > Sustained drug delivery, potential advantages due to large surface area, dense network of blood vessels and high elasticity due to > Sol
Slide 37: DARE-HRT1
DARE-HRT1* Combination bio-identical estradiol + bio-identical progesterone 28-day IVR for hormone therapy following menopause. There are no FDA approved options with both hormones in one monthly IVR. Over 45M women in U.S. approaching or in menopause* (tomer Therapy (HT) >» HT remains the most effe
Slide 38: DARE-FRT1 and DARE-PTB1
DARE-FRT1 and DARE-PTB1* Bio-identical progesterone 14-day IVR for prevention of preterm birth and luteal phase support as part of an IVF treatment plan. There are currently no FDA approved products marketed in the U.S. that do not require daily dosing of progesterone. *505(b)(2) candidate* Preventi
Slide 39: DARE-VVA1
DARE-VVA1* Proprietary tamoxifen formulation for vaginal administration for vulvar and vaginal atrophy (VVA), a chronic condition characterized by pain during intercourse, vaginal dryness and irritation. There are currently no FDA approved products labeled for VVA treatment in HR+ breast cancer. (po
Slide 40: DARE-VVA1 - Proof of Concept
DARE-VVAz - Proof of Concept This exploratory study’ in four postmenopausal women diagnosed with VVA demonstrated that a self-administered vaginal suppository containing tamoxifen (20mg) dosed daily for one week and twice weekly for three months was effective in reducing vaginal pH and vaginal dryne
Slide 41: DARE-VVA1 - Phase 1/2 Study
DARE-VVAz -— Phase 1/2 Study Phase 1/2 study’ is designed to evaluate the safety, pharmacokinetics and pharmacodynamics of DARE-VVAz in postmenopausal participants with moderate to severe VVA and is being conducted by the Company's wholly owned subsidiary in Australia. * The Phase 1/2 study will eva
Slide 42: ADARE 204/214
ADARE 204/214* Novel 6 & 12-month injectable formulations of etonogestrel being developed as a longer-acting, reversible method of contraception with a more predictable return to fertility. There are currently no FDA approved injectable contraceptives available indicated for 6-12 months protection.
Slide 43: DARE-LARC1
DARE-LARC1* Long-Acting, Reversible Personal Contraceptive System — levonorgestrel-releasing implant drug delivery system designed to store and precisely deliver hundreds of therapeutic doses over years that a woman can turn on and off herself, according to her own needs, without further healthcare
Slide 44: Daré Financial Highlights
Daré Financial Highlights: 3/31/22 Snapshot: + Cash and equivalents: $39.3 M + Common shares o/s (5/10/22): 84.7 M + Warrants o/s: 1.6 M / Organon exclusive global license agreement: + 3/31/22: Agreement executed for commercial distribution of XACIATO™ 20-22: License became effective 30-22: Daré rec
Slide 45: Daré — Working to Accelerate Innovation in Women's Health
Daré —- Working to Accelerate Innovation in Women’s Health 2019 and 2020 Y Positive findings of Sildenafil Cream, 3.6% thermography clinical study Y Positive topline data for Ovaprene® postcoital test clinical study Y Exclusive licensing agreement with Bayer for Ovaprene v Strategic partnerships wit
Slide 46: Daring to Be Different and Advancing Products Women Want
NASDAQ: DARE www.darebioscience.com db DARING TO BE DIFFERENT® AND ADVANCING daré! PRODUCTS WOMEN WANT