Daré Bioscience, Inc. announced that on July 11, 2019, Roger L. Hawley gave notice of his resignation from Dare’s board of directors and all of its committees effective July 11, 2019 for personal reasons and to spend more time with his family. Mr. Hawley, who served as chairman of the board of directors and on its audit committee, did not resign as a result of a disagreement with Daré on any matter. On July 11, 2019, the board of directors, upon the recommendation of its nominating and corporate governance committee, appointed William H. Rastetter, Ph.D., a current member of the board of directors, as chairman of the board of directors, and appointed Jessica D. Grossman, M.D., to fill the vacancy created on the audit committee following Mr. Hawley’s resignation. Dr. Grossman is an independent director under applicable Nasdaq and Securities and Exchange Commission rules and regulations.
Dare Bioscience, Inc. is a biopharmaceutical company committed to advancing products for women's health. XACIATO, the Company's United States Food and Drug Administration (FDA)-approved product, vaginal gel 2%, a lincosamide antibacterial indicated for the treatment of bacterial vaginosis in female patients 12 years of age and older, which is under a global license agreement with Organon. Its clinical-stage programs include Ovaprene; Sildenafil Cream, 3.6%; DARE-HRT1; DARE-VVA1; DARE-CIN; DARE-PDM1; DARE-204 and DARE-214, and DARE-FRT1 and DARE-PTB1. Its pre-clinical stage programs include DARE-LARC1, DARE-LBT, DARE-GML, DARE-RH1 and DARE-PTB2. Ovaprene, is a hormone-free monthly intravaginal contraceptive. Sildenafil Cream, 3.6%, is a cream formulation of sildenafil, the active ingredient in Viagra, to treat female sexual arousal disorder (FSAD). DARE-HRT1, is a combination bio-identical estradiol and progesterone intravaginal ring for menopausal hormone therapy.