Daré Bioscience, Inc. announced that on January 23, 2024, Co-founder and Chief Financial Officer, Lisa Walters-Hoffert informed the company that she will retire from all positions with the Company, effective January 26, 2024. To help ensure a smooth transition of her responsibilities, Ms. Walters-Hoffert and the Company agreed that she will transition to a nine-month consulting role with the Company following her retirement. Given the financial knowledge and experience within the Dare team, the Company does not currently intend to appoint a chief financial officer, which further reduces costs for the Company over the long term as well.

The functions performed by a chief financial officer will be performed by Ms. Johnson and MarDee Haring-Layton going forward. As a result of Ms. Walters-Hofferts retirement, Ms. Johnson, Chief Executive Officer and President, will serve as principal financial officer. Ms. Johnson has extensive experience as a finance executive, having previously served as Chief Financial Officer at WomanCare Global Trading and Cypress Bioscience.