Daré Bioscience Inc (NASDAQ:DARE) shares more than doubled Monday after the biopharma shared positive findings for the use of its DARE-VVA1 product, a proprietary formulation of tamoxifen in treating vulvar and vaginal atrophy (VVA), a condition associated with menopause.
Investors cheered the news and sent the stock up more than 150% to $2.33 Monday afternoon.
The findings written up in the “Clinical and Experimental Obstetrics and Gynecology” journal showed that a self-administered vaginal suppository containing tamoxifen administered to four healthy postmenopausal women with VVA showed "significant improvements" in reducing vaginal pH and vaginal dryness, without significant absorption of tamoxifen.
VVA is an inflammation of the vaginal epithelium due to the reduction in levels of circulating estrogen.
Historically, estrogen-based therapies delivered through creams, rings, and tablet supplements have been prescribed for the treatment of VVA symptoms. However, estrogen-based products can be very worrisome for women undergoing treatment for hormone-receptor positive breast cancer.
The problem is compounded by the fact that many breast cancer survivors undergo menopausal symptoms as a direct fallout of cancer treatments. In a strong glimmer of hope, the exploratory study found that vaginal administration of tamoxifen for three months in postmenopausal women with VVA had positive results, signaling a possible new, non-estrogen-based treatment approach.
"If successful, DARE-VVA1 could be the first and only vaginally administered tamoxifen product approved by the FDA for the treatment of VVA in hormone-receptor positive breast cancer patients," the company said in a statement.
San Diego, California-based Daré Bioscience, is a clinical stage women’s reproductive health biopharmaceutical company. It works on therapies in the areas of contraception, vaginal health, sexual health, and fertility.
It recently began its clinical trial for its lead product Ovaprene, a monthly non-hormonal contraceptive vaginal ring.
Contact Uttara Choudhury at [email protected]