There’s a lot of interest in the program from a lot of different stakeholders. As a company, we always look at what makes the most sense in terms of ultimately, where can we build the greatest value for shareholders, which I am myself a shareholder as well. So, we look at all the different aspects and possibilities. And so as you seen historically, we’ve considered partnerships at different times in the trajectory of a program. As Lisa commented, strategic partnerships are certainly a non-dilutive way of funding certain activities. But we’ve also very much had a practice of we’ll – we don’t talk about those things in advance – when the time is right. And that partnership is in place and it makes sense, then we would talk about it, but we obviously consider all the possibilities for every program and really look at all the ways that we can fund our portfolio to build value.
And with something like Sildenafil Cream, given it’s the first-in-category product, and there are no FDA-approved treatments, there’s interest in a program like that. So we have – so what’s nice about that I should stress is it puts Daré in a nice position and being able to think about what makes sense for Daré and our shareholders.
Catherine Novack: Got it. That’s very helpful. Thank you. Thanks so much for taking my questions.
Sabrina Martucci Johnson: Absolutely.
Operator: The next question is from Doug Tsao with H.C. Wainright. Your line is open.
Doug Tsao: Sabrina, along those lines of Sildenafil Cream in terms of seeking a partner, has any of the sort of stakeholders that you’ve spoken with expressed interest in having a voice in helping design in the Phase 3 program, because obviously, you did such a novel program and the clinical development program could go in a lot of different directions?
Sabrina Martucci Johnson: Yes. Another great question. So – and if I may take a step back on the Sildenafil Cream program, because I think as many people know, and I know you know, in particular, Doug, like this is the first, right. The Phase 2b trial was the first ever study of its kind, conducted in this patient population. And as a result, Daré had to do a lot of work to work really closely with the FDA on the design of the study and with a lot of the thought leaders in the field of sexual health, to really think about what are the end points, what is the patient population? How do we categorize them in this exploratory study? So, we could come out the other end the way we have, which I couldn’t be more thrilled to have come at the other end – with basically now having really defined the patient population and the study endpoints that, we can take forward into the Phase 3 and have the Phase 2b really be a road map for that.
And I say all of that to say really in the field of women’s health and women’s sexual health, quite frankly, Daré has seen is very much the thought leader in this area. And I will say every organization who has thought about sexual dysfunction in women and particularly arousal disorder and Sildenafil Cream specifically has certainly looked to Daré as the leader in this area in the work we’ve done already with the FDA. And then the work that we’ve done with all of the thought leaders to prepare for this and the Phase 2 meeting and design a Phase 3 program that makes sense. So not to say that companies may or may not, right, want to have a say in what that development program looks like. But I think it’s really wonderful to be in a position where we’re able to say and not in a boasty way, but just state reality.
We’ve done more work in this therapeutic category than anyone has, and we’re very much seen as the experts and the leaders.
Doug Tsao: Great. That’s really helpful. And Sabrina, I guess, on Ovaprene, obviously, primary endpoint is basically just preventing pricing. Are there any other endpoints in the study that we should be focused on? Thank you.
