Ospemifene is a selective estrogen receptor modulator (SERM) that acts as an estrogen agonist on the vaginal epithelium, promoting the restoration of the normal structure and function of vaginal tissues. It binds to estrogen receptors (ERα and ERβ) in target tissues, inducing gene expression that supports epithelial proliferation, increased lubrication, and improved elasticity. Unlike estrogen, ospemifene has tissue-selective effects, exhibiting antagonistic or neutral activity in other estrogen-responsive tissues such as the breast.