Dare Bioscience Inc. (NASDAQ: DARE) announced it received a revised Notice of Award from the National Institutes of Health extending funding for its DARE-PTB1 intravaginal ring through November 2026. The extension maintains the total NIH grant at approximately $2 million with no additional cost.

The funding supports development of DARE-PTB1, an investigational intravaginal ring designed to deliver bio-identical progesterone continuously for up to 14 days. The device targets prevention of preterm birth in at-risk women, a condition currently without FDA-approved treatments.

The revised award notice, issued March 11, extends the budget and project period for the second tranche of approximately $1 million through November 30, 2026. The grant supports a Phase 1 comparative pharmacokinetics clinical study of DARE-PTB1 in at-risk women.

"The continued commitment of the NIH to this project validates what we have long believed about DARE-PTB1: that it has the potential to address a real, urgent, and underserved clinical need," said Sabrina Martucci Johnson, President and CEO of Dare Bioscience.

The funding comes from the Eunice Kennedy Shriver National Institute of Child Health and Human Development under Award Number R44HD101169. The original project period began December 12, 2023.

DARE-PTB1 utilizes the same intravaginal ring platform technology as the company's DARE-HRT1 program, which generated positive pharmacokinetic results in Phase 1 and Phase 1/2 clinical trials for hormone delivery.

The San Diego-based biotech company focuses on women's health products and maintains a pipeline that includes contraceptive and sexual health treatments. Dare Bioscience is currently conducting a Regulation A offering for investor participation.