Dare Bioscience, Inc. — Director's Dealing 2016

Jan 25, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cerulean Pharma Inc. (CERU)
CIK: 0001401914
Period of Report: 2016-01-21

Reporting Person: WALT DAVID R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-21	Common Stock	P	4500	$2.3173	Acquired	84603	Direct
2016-01-22	Common Stock	P	4500	$2.2433	Acquired	89103	Direct

Footnotes

F1: These purchases were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 4, 2015.

F2: Represents the weighted average purchase price for shares purchased in multiple transactions. Purchase prices ranged from $2.25 to $2.39 per share. Upon request of the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, the reporting person will provide full information regarding the number of shares purchased at each separate price.

F3: Represents the weighted average purchase price for shares purchased in multiple transactions. Purchase prices ranged from $2.22 to $2.32 per share. Upon request of the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, the reporting person will provide full information regarding the number of shares purchased at each separate price.