It’s a very rewarding trading day for investors in Dare Bioscience (NASDAQ:DARE) with shares up nearly 50%, making the women’s health company’s stock Wall Street’s bull of the day!
Wednesday’s gains were thanks to the announcement that company had signed an exclusive worldwide license agreement with Juniper Pharmaceuticals, in which Dare acquired Juniper’s intravaginal ring technology, including three preclinical candidates.
Daré’s President and CEO Martucci Johnson commented, “We see great potential in this promising technology with already established, compelling preclinical results and intellectual property that we believe will support further drug development. We believe that the capabilities of the intravaginal ring platform will greatly expand our ability to identify and meet unmet needs in women’s sexual and reproductive health.”
The Juniper intravaginal ring technology allows for sustained drug delivery over time periods ranging from weeks to months. Unlike other vaginal rings, the Juniper intravaginal rings release drugs in a solid ethylene vinyl acetate polymer matrix without the need for a membrane or reservoir to contain the active drug or control the release.
Current 505(b)(2) candidates under development by Juniper include JNP-0101, an oxybutynin ring for the treatment of overactive bladder; JNP-0201, a combination estradiol + progesterone ring for hormone replacement therapy; and JNP-0301, a natural progesterone ring for the prevention of preterm birth. Daré’s exclusive license covers all three rings in development as well as additional applications of the intravaginal ring technology platform in other therapeutic areas.