(RTTNews) - Sol-Gel Technologies, Ltd. (SLGL) Thursday reported a net loss of $5.9 million or $2.13 per share for the third quarter, compared to a net loss of $0.4 million and a loss of $0.13 per share for the same period in 2024.
Revenues for the quarter were $0.4 million, compared to $5.4 million last year.
Revenue primarily consisted of license revenue from ex-US licensing agreements, while last year's revenue consisted $0.4 million royalty revenue from Galderma, $0.6 royalty revenue from Searchlight, $3.8 million under the agreement with Padagis and $0.5 million under the ex-US licensing agreements.
Research and development expenses were $5.7 million compared to $4.8 million for the same period in 2024. The increase of $0.9 million was primarily attributed to an increase of $0.8 million in manufacturing development expenses related to SGT-610 and an increase of $0.7 million in clinical trial expenses for SGT-610, offset by a decrease of $0.4 million in professional expenses related to ex-US activities in EPSOLAY and TWYNEO and a decrease of $0.3 million in professional expenses related to a generic product candidate.
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