By Adam L. Cataldo
Daré Bioscience’s stock rose to start the week after the company said it will receive the first of a potential $180 million in milestone payments and tiered double-digit royalties under an licensing agreement for Xaciato.
The stock climbed 24% to 57 cents at 11:33 a.m. ET on Monday. The shares are up 20% in the past month, but are down 31% this year.
The San Diego-based women’s health company said the first shipment of Xaciato has been made, which triggered a $1.8 million payment to Daré under its licensing agreement with Organon. Xaciato, which has been approved by the U.S. Food & Drug Administration, is used to treat bacterial vaginosis in females 12 years of age and older.
Write to Adam Cataldo at [email protected].
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