Sol-Gel Technologies Prices Oversubscribed Offering, Stock Down
(RTTNews) - 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%.
