Slide 1: Corporate Presentation: October 17, 2022
Dare Bioscience ee g. DARE ‘ IN ITALIAN, IT MEANS “TO GIVE.” IN ENGLISH, IT MEANS “TO BE BOLD.” NASDAQ: DARE www.darebioscience.com Corporate Presentation: October 17, 2022 ©2022 Daré Bioscience | All rights reserved
Slide 2: Forward-Looking Statements; Disclaimers
ei ii PEEEEEEE EE EEE REET EE CET | } } } | Forward-Looking Statements; Disclaimers j : 4 PADRE as Ee 4 ee ee rk ee oe a 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 “Compa
Slide 3: Women's Health is Our Sole Focus
Women’s Health is Our Sole Focu 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 accelera
Slide 4: Women's Health - An Efficient Investment Thesis
Women’s Health - An Efficient Investment Thesis Approximately 1% of healthcare research is invested in female-specific conditions beyond oncology.+ Women’s Health conditions outside of oncology comprise less than 2% of the current healthcare pipeline.” 1- McKinsey & Company, February 14, 2022, Unloc
Slide 5: Women's Health — Compelling Markets Where Innovation Matters
Women’s Health — Compelling Markets Where Innovation Matters Contraception ~73 Million women ages 15-497 a hormonal monthly IVR, NuvaRing, ~$900M at peak? a hormonal IUD, Mirena franchise, ~$2.2B at peak3 1% copper IUD, still ~s200M/yr 40 years post launch+ Sexual Health - No FDA approved product fo
Slide 6: Daré Portfolio — The Big Ideas
Daré Portfolio — The Big Ideas* Contraception Ovaprene © - 1 Hormone-free, Monthly Contraceptive ADARE-204/224 - 1% 6 & 12-Month Injectable Contraceptive DARE-LARCa - 1 Long-Acting, Reversible Personal Contraceptive System DARE-RHz2 - Hormone-free contraceptive target for women and men Sexual Health
Slide 7: Daré Bioscience: A Compelling Opportunity
Daré Bioscience: A Compelling Opportunity Meaningful market potential for differentiated products First-line or first-in-category product opportunities across the portfolio Diverse pipeline with independent outcomes One FDA-approved product and several clinical development stage candidates utilizing
Slide 8: Advancing Products Women Want - The Portfolio Snapshot
Advancing Products Women Want - The Portfolio Snapshot d daré PHASE 3/ PIVOTAL REGULATORY FDA PRE-CLINICAL PHASE a PHASE 2 Suman APPROVED XACIATO™ NDA Approved Dec. 7, 2022 -4* ORGANON (45) ‘Ovaprene® Hormone-Free, Monthly Contrace paver) ; ly Sildenafil Cream, 3.5%" Female Sexual Arousal Disorder P
Slide 9: FDA Approved — XACIATO
FDA Approved — XACIATO XACIATO™ (Clindamycin Phosphate) Vaginal Gel, 2% Commercialization Collaborator NDA approved December 7, 2021 QIDP, Fast Track and Priority Review Designations MPORGANON * XACIATO [zah-she-AH-toe] (clindamycin phosphate) vaginal gel, 2% is a lincosamide antibacterial indicated
Slide 10: Advancing Products Women Want - Late Stage Programs
Advancing Products Women Want - Late Stage Programs Ovaprene® Hormone-Free, Monthly Contraception cy Potential first-in-category hormone- Pivotal Phase 3 Study to Commence 2023* free contraception Self-administered intravaginal Investigational hormone-free, monthly intravaginal contraceptive. drug/d
Slide 11: Advancing Products Women Want - Phase and Preclinical
Advancing Products Women Want - Phase 1 and Preclinical Hormone Therapy - Phase 1 Completed; ‘ ey Pregnancy Maintenance Vulvar and Vaginal Atrophy Phase a /2 Study Complete Phase a Study Preparation Phase 1/2 Study Commenced 1. First-in-category combination hormone delivery for 1. First-in-category
Slide 12: Daré: Advancing Products Women Want
Daré: Advancing Products Women Want Innovative women’s health pipeline with multiple program milestones anticipated in 2022. Every program, if approved, represents a potential first-line or first-in-class product opportunity. Experienced Board of Directors and Management Team with demonstrated succe
Slide 13: 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 14: Daré Financial Highlights
Daré Financial Highlights (Recent Updates: > + 30-22 through 8/8/22: $18.0 M cash received as described below Snapshot: + Organon global license agreement for XACIATO™: Cash and equivalents 6/30/22: $32.1 M . o 2Q-22: agreement became effective Common shares o/s (8/8/22): 84.7 M 0 3Q-22: $10.0 M upf
Slide 15: Working to Accelerate Innovation in Women's Health
Daré — Working to Accelerate Innovation in W ——— Program Milestones remaining in 2022 include a product launch, data readout, and Phase 3 investigator meeting*: S XACIATO (clindamycin phosphate) vaginal gel, 2% (f/k/a DARE-BV1) Commercial launch in the U.S. in 4Q 2022 Ovaprene® (hormone-free monthly
Slide 16: Commercialization Collaborator
Commercialization Collaborator:
Slide 17: Bacterial Vaginosis
Bacterial Vaginosis a (« 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, post-surg
Slide 18: 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. OIDP, Fast Track and Priority Review > This marks the first FDA-approved product in Dar
Slide 19: 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 becam
Slide 20: 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 clindamy
Slide 21: Special Populations
Special Populations Special . Populations Special : Populations *See Full Prescribing Information at: http: ecial 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, bas
Slide 22: U.S. Commercialization Collaborator
U.S. Commercialization Collaborator: Phase 3 Development Collaborator:
Slide 23: Contraception: Large Market Opportunity
Contraception: Large Market Opportunity Women in the Reproductive Health & Successful Contraceptive Brands Peak Sales: Contraception Market Segment (over 60 million women) ° ‘otal US Females Age 15-44 (Milions) i 3 3 A i <a en 7 = = 7 Source: US Census Bureau, 2027 National Dataset (2026 is base pop
Slide 24: Ovaprene - Potential Market Opportunity
prene® - Potential Market Opportunity There are approximately 65 million women in the US Aged 15-447 30 Million Women?3 Not candidates for Ovaprene® : H H v Currently use Pill (10.3M) *Sterilization (10.5M) no slnjectable (1.5M) *Pregnant/postpartum/ seeking contraception Vaginal Ring pregnancy (5.6
Slide 25: Contraception: What's Missing from Current Hormone-Free Options?
Contraception: What's Missing from Current Hormone-Free Options? Pregnancies Expected Hormone-free Options i (per 100 women) » Least Effective Spermicides F >27 & Vaginal Gels? Condoms (male) 18 Diaphragms (with a spermicide) a Easy-to-use monthly Effectiveness approaching option hormonal methods Co
Slide 26: Ovaprene Investigational Hormone-Free, Monthly Contraceptive
Ovaprene® Investigational Hormone-Free, Monthly Contraceptive 6 Desired Features of Physical Barrier Birth Control Products:** Design Features of Ovaprene:*” Three-dimensional, . knitted polymer barrier +Efficacy 86% - 91% Expected Typical Use Effectiveness Approaching User-Controlled Hormone Contra
Slide 27: 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 clin
Slide 28: Ovaprene - Collaborative Research Agreement with NIH
Ovaprene® - Collaborative Research Agreement with NIH* July 2021 — Daré announced that funding and ( * The pivotal Phase 3 study will be supported by the NICHD’s clinical operations support for the Phase 3 Contraceptive Development Program which oversees the Contraceptive will be provided by the Nat
Slide 29: Ovaprene - U.S. Regulatory Strategy
2.Anticipated regulatory pathw 2.Mauck C., Vincent K. Biology of Reproduction, Volume 103, Iss Ovaprene® - U.S. Regulatory Strategy* Premarket approval (PMA) strategy — The Center for Devices and Radiological Health (CDRH) as lead review division Step 1 (Completed) Postcoital Test (PCT) Clinical Stu
Slide 30: 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® 30
Slide 31: FSAD - The Clinical Issue
FSAD - The Clinical Issue Female Sexual Arousal Disorder (FSAD) is characterized The condition should be distinguished primarily by inability to attain or maintain sufficient genital from a general loss of interest in sexual arousal during sexual activity and, of female sexual function activity and
Slide 32: FSAD — What is the incidence?
FSAD — What is the incidence? 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%.* arket research estimates: > 33% of US women aged 21 to 60 (~ 20 million women), experience sy
Slide 33: 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.? »> Designed to increase local blood flow to provide improvement in genital arou
Slide 34: 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 35: 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 : : : : 3 + Question #2 - “After taking study medication, the Amplitude (VPA): stimulation (FIEI)? sensation/feeling in my genital (va
Slide 36: Sildenafil Cream, 3.6% - Phase 1 and Phase 2a Study Results
Sildenafil Cream, 3.6% - Phase 1 and Phase 2a Study Results Phase 1 Study of SST-6007 (Sildenafil Cream, 3.6%)* Normal healthy postmenopausal women were dosed with escalating doses of Sildenafil Cream, 3.6%, using a cross-over study design. Sildenafil Cream had significantly lower systemic exposure
Slide 37: 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 Positive cognitive arousal responses Sildenafil Cream were noted. 25 Placebo Cream Significantly greater increases in genital temper
Slide 38: Phase 1 and Preclinical Programs
Phase 1 and Preclinical Programs New investigational prescription drug delivery options for women
Slide 39: Advancing Products Women Want - Phase 1 and Preclinical
Advancing Products Women Want - Phase 1 and Preclinical Hormone Therapy - Phase 1 Completed; ‘ ey Pregnancy Maintenance Vulvar and Vaginal Atrophy Phase a /2 Study Complete Phase a Study Preparation Phase 1/2 Study Commenced 1. First-in-category combination hormone delivery for 1. First-in-category
Slide 40: 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 41: 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 ( > Hormone Therapy (HT) HT remains the most eff
Slide 42: DARE-HRT1 Completed Phase 1 Studies
DARE-HRT1* Completed Phase 1 STUDY A Phase 1, Open-Label, 3-arm Parallel Group Study to Evaluate the Pharmacokinetics (PK) and Safety of DARE-HRT1 (80 yg and 160 pg Estradiol/ 4 mg and 8 mg Progesterone Intravaginal Rings) in Healthy Post-Menopausal Women. The topline data from the study support DAR
Slide 43: 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. i) +*505(b)(2) candidate* Prev
Slide 44: 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. Pot
Slide 45: DARE-VVA1 - Proof of Concept
DARE-VVAsz - 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 dryn
Slide 46: DARE-VVA1 — Phase 1/2 Study
DARE-VVAz2 — Phase 1/2 Study Phase 1/2 study? is designed to evaluate the safety, pharmacokinetics and pharmacodynamics of DARE-VVA1z 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 ev
Slide 47: 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 48: 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 49: DARE-GML
DARE-GML Glycerol monolaurate (GML) is a naturally occurring fatty acid monoester that has shown broad antimicrobial activity, killing bacteria, fungi and viruses, and represents a new class of antimicrobial agents. GML has the potential to be a first-in-category multi-target antimicrobial. Bacteria
Slide 50: 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 50