Dare Bioscience, Inc. · NASDAQ:DARE
Dare Bioscience — Investor Presentation (January 2026)
30 slides from Dare Bioscience's investor presentation, Jan 6, 2026
Slide 1: Corporate Deck January 6, 2026
CORPORATE DECK JANUARY 6, 2026 = a DARE BIOSCIENCE DAREBIOSCIENCE.COM | NASDAQ: DARE (©2026 DARE BIOSCIENCE, ALL RIGHTS RESERVED
Slide 2: Forward-Looking Statements & Disclaimers
DAREBIOSCIENCE Forward-Looking Statements & Disclaimers 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 discusses potential future drug and medic
Slide 3: Daré at a Glance
DAREBIOSCIENCE SOLE FOCUS ON WOMEN’S HEALTH from contraception to menopause, sexual health, vaginal health, and fertility Daré at a Glance Ly AB | ad EVIDENCE-BASED SOLUTIONS via fastest eligible pathways to market; 503B compounding, FDA approvals, and non- prescription w STRATEGIC COLLABORATIONS wi
Slide 4: Why Invest in Women
DAREBIOSCIENCE Why Invest in Women <2% of the global healthcare pipeline addresses non-oncologic women’s health! Yet 27% of all blockbuster drug products are women’s health drugs? Women control 80% of U.S. healthcare purchasing decisions.*
Slide 5: Near-Term Commercial Path
DAREBIOSCIENCE Near-Term Commercial Path ASSET / TARGET AVAILABI INMET NEED MARKET INSIGHT A 2024 analyst report on HIMS estimated the erectile n online platform. of symptoms of low or no S, pg. 24. The analy inmen lion Sildenafil Designed There are no FDA-approved treatments for a problem dysfuncti
Slide 6: DARE to PLAY™ Sildenafil Cream
DAREBIOSCIENCE DARE to PLAY™ Sildenafil Cream* PRODUCT INFO DARE to PLAY™ Sildenafil Cream is a proprietary topical formulation of the active ingredient in an erectile dysfunction drug (Viagra®) + An estimated 20 million women experience symptoms of low or no sexual arousal; ~10 million are consider
Slide 7: DARE to PLAY™ Key Data
DAREBIOSCIENCE DARE to PLAY™ Sildenafil Cream KEY DATA PK study demonstrated minimal systemic exposure (1-2% C,,,., of oral sildenafil). ! Phase 2b study demonstrated statistically significant arousal improvement in the target Phase 3 population (post-hoc analysis). 2 Sildenafil Cream was well toler
Slide 8: OVAPRENE®
DAREBIOSCIENCE OVAPRENE® Investigational Hormone-Free Monthly Intravaginal Contraceptive PRODUCT INFO Phase 3 pivotal study is enrolling; positive interim data and Data Safety Monitoring Board (DSMB) recommendation reported in Q3 2025.! There are currently no FDA-approved monthly, hormone-free contr
Slide 9: Menopause Franchise
DAREBIOSCIENCE Menopause Franchise The global market for menopausal products is expected to reach >$24 billion by 2030.1 DARE-VVA1* DARE-HRT1* Hormone-free tamoxifen inserts for painful intercourse associated with menopause Monthly estradiol + progesterone intravaginal ring Investigational New Drug
Slide 10: DARE-HPV
DAREBIOSCIENCE DARE-HPV* Investigational Antiviral Vaginal Insert For Human Papillomavirus Related Cervical Diseases Beis A proprietary fixed-dose formulation of lopinavir and ritonavir’ in a soft gel vaginal insert. + Ina pilot study of vaginally-administered lopinavir and ritonavir in 23 women in
Slide 11: FDA Approved Product: XACIATO™
DAREBIOSCIENCE FDA APPROVED PRODUCT: XACIATO™ (Clindamycin Phosphate) Vaginal Gel 2% PRODUCT INFO XACIATO [zah-she-AH-toe] (clindamycin phosphate) vaginal gel 2% is a lincosamide antibacterial indicated for the treatment of bacterial vaginosis (BV) in females 12 years of age and older* + Available n
Slide 12: Pipeline Overview
DAREBIOSCIENCE Pipeline Overview Diverse, strategically balanced portfolio of late-, mid-, and early-stage assets targeting non-oncologic conditions across women’s health; Large addressable U.S. and global markets. Designed for her sexual experience Designed to help her keep living her best life Des
Slide 13: Strategic Collaborations & Non-Dilutive Funding
DAREBIOSCIENCE Strategic Collaborations & Non-Dilutive Funding NIH, ARPA-H, Foundation grants ™ XACIATO . and other awards across several commercialization portfolio programs via Organon >$75 million awarded since 2018 13
Slide 14: Recent & Upcoming Catalysts
DAREBIOSCIENCE Recent & Upcoming Catalysts Positive Ovaprene interim Phase 3 DSMB review Q3 2025 Target launch of DARE to Q1 2026 RESTORE vaginal probiotics i Q4 2025 DARE to PLAY Sildenafil Cream available for pre- order by prescription in select states as a 503B compounded product EARLY 2027 I Tar
Slide 15: Why Daré, Why Now
DAREBIOSCIENCE Why Daré, Why Now DARE to PLAY Three additional Capital-efficient, Sildenafil Cream revenue catalysts on partnership-driven nationwide availability the horizon model anticipated in early 2026 15
Slide 16: Appendix
i Appendix
Slide 17: FSAD is characterized by inability to attain or maintain genital arousal
DAREBIOSCIENCE FSAD 1s characterized primarily by inability to attain or maintain sufficient genital arousal during sexual activity! and is clinically analogous to erectile dysfunction in men. of women in the U.S. aged 21 to of U.S. women aged 21 to 60 60 (~10 million women) are 5% of men experience
Slide 18: Oral Sildenafil provided a proof of concept for FSAD
DAREBIOSCIENCE Oral Sildenafil provided a compelling proof of concept for FSAD STATISTICALLY SIGNIFICANT INCREASES STATISTICALLY SIGNIFICANT IMPROVEMENT IN VAGINAL PULSE AMPLITUBE (VPA)' IN GENITAL STIMULATION (FIEI)? + Question #2 — “After taking study medication, the Pfizer VPA Clinical Lab Study
Slide 19: Path Forward for Sildenafil Cream for Treatment of FSAD
DAREBIOSCIENCE Path Forward for Sildenafil Cream for Treatment of FSAD EXPLORATORY PHASE 2B CLINICAL STUDY' The Phase 2b Clinical Study (ID# NCT04948151) was designed to evaluate Sildenafil Cream vs. placebo over 12 weeks. To Daré’s knowledge, this was the first study specifically evaluating a poten
Slide 20: Sildenafil Cream Phase 2b in FSAD: Post-Hoc Analyses
DAREBIOSCIENCE Sildenafil Cream Phase 2b in FSAD EXPLORATORY POST-HOC ANALYSES* Post-Hoc Analysis Results from Proposed Phase 3 population: FSAD with or without concomitant decreased desire Sildenafil Cream + Post-hoc analyses were conducted on enrollment female sexual Endpoint 3.6% (N=33) dysfuncti
Slide 21: Sildenafil Cream Phase 2b in FSAD: Safety Results
DAREBIOSCIENCE Sildenafil Cream Phase 2b in FSAD SUMMARY OF SAFETY RESULTS Sildenafil Cream was well tolerated by exposed users and their sexual partners. During the 12-week double-blind dosing period, there were 78 TEAEs reported by 29 of the 99 Sildenafil Cream-assigned participants and 65 TEAEs r
Slide 22: Sildenafil Cream Pharmacokinetic and Pharmacodynamic Studies
DARE BIOSCIENCE Sildenafil Cream, 3.6% Pharmacokinetic and Pharmacodynamic Studies PHASE 1 & PHASE 2A STUDY RESULTS THERMOGRAPHY STUDY RESULTS* Phase 1 Study of SST-6007 (Sildenafil Cream, 3.6%)* + Demonstrated time to effect (11-15 minutes) + Positive cognitive arousal responses were noted + Signif
Slide 23: Notable Publications for Daré's Sildenafil Cream
DAREBIOSCIENCE PUBLICATION Sexual Medicine, Volume 12, Issue 5, October 2024 AUTHOR(S) Johnson, et al. Notable Publications for Daré’s Sildenafil Cream, 3.6% LE Impact of age, race, and medication use on efficacy endpoints in a randomized controlled trial of topical sildenafil cream for the treatmen
Slide 24: OVAPRENE® Pre-Pivotal Postcoital Test
DAREBIOSCIENCE OVAPRENE® Investigational Hormone-Free Monthly Intravaginal Contraceptive OVAPRENE® BRE-PIVOTAL The Ovaprene® Pre-Pivotal Postcoital Test (PCT) study met its primary endpoint. + In 100% of women and cycles, Ovaprene prevented the requisite number of sperm from reaching the cervix. + A
Slide 25: OVAPRENE® Pivotal Study and Regulatory Strategy
DAREBIOSCIENCE OVAPRENE® Investigational Hormone-Free Monthly Intravaginal Contraceptive US. recuatory Based on our communications to date with the FDA, if successful, we SIRAIES believe only this single ongoing registration study will be sufficient to support a premarket approval application submis
Slide 26: Safe and Effective HPV Treatments Remain an Unmet Need
DAREBIOSCIENCE Safe and Effective HPV Treatments Remain an Unmet Need HPV-RELATED CERVICAL DISEASES PER YEAR IN THE U.S." + HPV is the most common sexually transmitted a infection in the United States and is the cause of >11 million women 99% of cervical cancer cases. acquire a new infection * Today
Slide 27: XACIATO™ Selected Safety Information
DAREBIOSCIENCE XACIATO™ (Clindamycin Phosphate) Vaginal Gel 2% SELECTED SAFETY sg INFORMATION XACIATO is contraindicated in individuals with a history of hypersensitivity to clindamycin or lincomycin. Clostridioides difficile-associated diarrhea (CDAD) has been reported with use of nearly all antiba
Slide 28: Our Therapeutics Portfolio
DAREBIOSCIENCE OUR THERAPEUTICS PORTFOLIO* Our investigational products seeking FDA approval are some of the most potentially disruptive therapeutic candidates for women in decades, targeting unmet needs with mnovative solutions. ADDRESSABLE ae PHASE 3/ REGULATORY FDA of U.S. women) PRE-CLINICAL PHA
Slide 29: Earlier stage programs with grant funding enhance the pipeline
DAREBIOSCIENCE Earlier stage programs with grant funding enhance the pipeline* ESTIMATED ADDRESSABLE PHASE 3/ MARKET PRE-CLINICAL PHASE 1 PHASE 2 PIVOTAL Australia RGD DARE-ppmi* Vaginal diclofenac once-daily thermosetting 50% menstruating women Phase 1 study completed 2023 Cash Rebate hydrogel for
Slide 30: Daring to Put Her Health First™
Daring to Put Her Health First™ DAREBIOSCIENCE.COM | NASDAQ: DARE (©2026 DARE BIOSCIENCE, ALL RIGHTS RESERVED
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