Sol-Gel Technologies Ltd. (SLGL) announced the pricing of an oversubscribed underwritten public offering, underscoring strong investor interest in its dermatology-focused pipeline.
The company stated that net proceeds will be used for working capital and to support ongoing clinical development, including late-stage trials of its lead program. The offering is expected to close subject to customary conditions.
Pipeline Snapshot
Sol-Gel is developing topical therapies for skin diseases where treatment options are limited.
-SGT-610 (Patidegib gel, 2%)-Gorlin Syndrome: Currently in Phase 3, this topical therapy is designed to prevent new basal cell carcinomas (BCCs) in patients with Gorlin syndrome, a rare genetic disorder. Top-line results are expected in Q4 2026. If approved, it could become the first preventive treatment for these patients.
-SGT-610- High-Frequent Basal Cell Carcinoma (HF-BCC): A Phase 2 trial is planned to start in H2 2027- H1 2028. This indication targets patients who develop multiple BCCs over their lifetime, representing a broader market opportunity beyond Gorlin syndrome.
-SGT-210 (Topical Erlotinib): In Phase 1, this program explores topical EGFR inhibition for rare skin disorders. Proof-of-concept studies are expected to begin in H2 2026, with potential applications in conditions like Olmsted syndrome.
-TWYNEO (Tretinoin+Benzoyl Peroxide Cream): Already FDA-approved for acne vulgaris, TWYNEO combines two established agents in a novel topical formulation.
-EPSOLAY (Benzoyl Peroxide Cream, 5%): Also FDA-approved, EPSOLAY treats inflammatory lesions of rosacea. The product is supported by multiple commercial agreements spanning four continents.
Why It Matters
The oversubscribed offering highlights investor confidence in Sol-Gel's strategy. With Phase 3 data for SGT-610 due later this year, the company is approaching a critical milestone that could establish the first preventive therapy for Gorlin syndrome. Meanwhile, its approved products TWYNEO and EPSOLAY provide commercial footing as it advances earlier-stage candidates.
The company implemented 1-for-10 reverse stock split on May 5, 2025.
SLGL closed Monday's trading at $66.20, down 9.28%. During overnight trading the stock rose to $67.75, up 2.34%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.