DARE - Organon in pact with Daré Bioscience for Xaciato

Clinica-stage biopharma company, Daré Bioscience (NASDAQ:DARE), has added ~18% in the pre-market Thursday on the announcement of an agreement with women’s healthcare company Organon (NYSE:OGN) for Xaciato, an FDA-approved therapy for bacterial vaginosis. Xaciato, also known as clindamycin phosphate vaginal gel 2%, is an investigational therapy with Qualified Infectious Disease Product (QIDP) and Fast Track designations from the U.S. Food and Drug Administration (FDA). Per the terms, Organon (OGN) will license global rights to the therapy, and Daré (DARE) will receive $10 million as upfront payments in addition to milestone payments of up to $182.5 million and tiered double-digit royalties on net sales. The transaction is expected to close in 2Q 2022, and Xaciato is likely to reach the U.S. market in 4Q 2022.

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Organon in pact with Daré Bioscience for Xaciato