Dare Bioscience (DARE) reaffirmed its commitment to the commercial launch of XACIATO, or clindamycin phosphate, vaginal gel, 2% with collaborator Organon (OGN), and announced that Organon will pay Dare $1.0M in July. Under the amended license agreement between Dare and Organon for XACIATO, Organon will pay Dare $1.0M in July and will pay Dare $1.8M upon the first commercial sale of XACIATO. In 2022, Dare received a $10.0M upfront payment from Organon when the license agreement became effective. In addition to the upfront payment and the $2.8M described above, Dare is also eligible to receive additional potential future milestone payments of up to $180.0M and tiered double-digit royalties based on net sales.
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