Dare Bioscience Inc (NASDAQ: DARE) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it entered into a license and collaboration agreement surrounding a key clinical candidate. Of course, the news is leading to excitement, causing the stock to make a run for the top. Today, we’ll talk about the agreement, what we’re seeing from DARE, and what we’ll be watching for ahead.
DARE Announces License Agreement
As mentioned above, Dare Bioscience is having an incredibly strong start to the trading session in the market today after announcing that it has entered into a license agreement. In a press release issued early this morning, the company said that it has entered into an agreement to license SST-6007, a potential treatment for Famale Sexual Arousal Disorder, from STrategic Science & Technologies, LLC.
SST-6007 uses sildenafil, which is the same active ingredient as Viagra. The treatment is a proprietary cream formulation that is designed to locally increase blood flow of the valvar-vaginal tissue in women, leading to a potential improvement in genital arousal response and overall sexual experience. If approved, SST-6007 would be the first FDA approved treatment for FSAD. In a statement, Martucci Johnson, President and CEO at DARE, had the following to offer:
We look forward to working closely with SST to bring SST-6007 to the market for women, leveraging SST’s deep knowledge of FSAD and our experience developing innovative women’s health products and readying them for U.S. commercialization. Driven by a mission to identify unmet needs in women’s health and mining the globe for unique assets that would serve these needs, we are confident that SST-6007 has the potential to significantly impact women with Female Sexual Arousal Disorder, an area that has long been studied but for which there are currently no FDA approved treatments.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. With this new agreement, DARE greatly expands its pipeline with a product that’s already showing promising potential. So, we’re not surprised to see strong movement in the value of the stock today. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:42), DARE is trading at $2.74 per share after a gain of $0.88 per share or 47.31% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DARE. In particular, we’re interested in following the development of SST-6007 and we’re excited to see how this treatment performs in the clinical setting. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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