Welcome to our dedicated page for Sol Gel Tech news (Ticker: SLGL), a resource for investors and traders seeking the latest updates and insights on Sol Gel Tech stock.
Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is a dermatology company whose news flow centers on clinical trial progress, regulatory milestones, licensing transactions and financial updates related to its topical drug products and pipeline. The company developed TWYNEO, a fixed-dose combination cream for acne vulgaris, and EPSOLAY, a benzoyl peroxide cream for inflammatory lesions of rosacea, and continues to report on ex-U.S. approvals and commercialization agreements for these products.
Recent Sol-Gel news highlights include updates on its pivotal Phase 3 clinical trial of SGT-610 (patidegib gel 2%) for Gorlin syndrome, including completion of patient enrollment and expectations for future top-line results. The company also issues releases on exploratory work to extend SGT-610 into high-frequency basal cell carcinoma and on compassionate-use cases in patients with PTCH1-mutated lesions. For SGT-210, a topical erlotinib candidate for Darier disease and other rare hyperkeratinization disorders, Sol-Gel has reported on Phase 1b proof-of-concept data, trial design decisions and plans for feasibility studies in additional indications.
Investors following SLGL news will also find announcements on Health Canada’s approval of EPSOLAY, new license agreements with partners such as Searchlight Pharma, Viatris and regional distributors, and a product purchase agreement with a subsidiary of Mayne Pharma for U.S. rights to EPSOLAY and TWYNEO. Periodic financial results releases provide detail on revenue from licensing and royalties, research and development spending on SGT-610 and SGT-210, cash runway expectations and capital market developments such as the company’s reverse share split and Nasdaq listing status.
This news page aggregates these company-issued updates and related coverage, making it easier to track Sol-Gel’s clinical, regulatory and commercial milestones over time for its dermatology portfolio and rare disease pipeline.
Sol-Gel Technologies (NASDAQ: SLGL) reported Q2 2024 financial results and provided corporate updates. Key highlights include:
- Cash runway extended into Q1 2026
- Ongoing Phase 3 trial of SGT-610 for Gorlin Syndrome with top-line results expected by Q2 2026
- Proof-of-concept study for SGT-210 in Darier disease ongoing
- New agreement with Padagis for generic Zoryve® Cream, enhancing cash position by ~$6 million
- License agreements signed for TWYNEO and EPSOLAY in Europe and South Africa
- Q2 2024 revenue: $5.4 million; Net income: $1.9 million ($0.07 per share)
- Cash balance: $30.5 million as of June 30, 2024
Sol-Gel Technologies (NASDAQ: SLGL) has signed six exclusive license agreements for the commercialization of TWYNEO® and EPSOLAY® in Europe and South Africa. The company will receive upfront and regulatory milestone payments totaling up to low 7-digit USD, along with either fixed transfer sale prices or low double-digit royalties from net sales. These payments are backed by commitments to minimum annual sales.
The agreements cover major European countries, including Germany, UK, France, and others, as well as South Africa. Sol-Gel's partners will be responsible for regulatory submissions, with Sol-Gel providing assistance. These new collaborations add to existing agreements in the US, Canada, and China, highlighting the commercial potential of both drugs.
Sol-Gel is also conducting a Phase 3 trial of SGT-610 for Gorlin syndrome and a clinical study of SGT-210 for Darier disease, aiming to strengthen its business position further.
Sol-Gel Technologies (NASDAQ: SLGL) announced significant management changes. CEO Dr. Alon Seri-Levy will step down from his position and board membership by December 31, 2024, subject to shareholder approval. He will continue as a consultant for one year. Eyal Ben-Or, previously Director of Finance, has been appointed as the new Chief Financial Officer (CFO) effective July 12, 2024, replacing Gilad Mamlok.
Under Dr. Seri-Levy's leadership, Sol-Gel developed FDA-approved products EPSOLAY® and TWYNEO®, completed a successful U.S. IPO, and acquired SGT-610 related assets. The company is currently conducting a Phase 3 clinical trial of SGT-610 for Gorlin syndrome. Chairman Mori Arkin expressed gratitude for Dr. Seri-Levy's contributions and confidence in Ben-Or's appointment.
Sol-Gel Technologies announced on May 28, 2024, receiving a notification from Nasdaq regarding non-compliance with the minimum bid price rule of $1 per share. The company’s shares have traded below $1 for 33 consecutive business days, triggering this notice. This notice does not affect the current listing, and shares will continue trading under the symbol SLGL. Sol-Gel has 180 days, until November 18, 2024, to regain compliance. If the share price reaches $1 for 10 consecutive days before the deadline, compliance will be restored. Sol-Gel is evaluating options to address this issue.
Sol-Gel Technologies (NASDAQ: SLGL) announced its Q1 2024 financial results and corporate updates. Key highlights include an ongoing Phase 3 trial of SGT-610 for Gorlin Syndrome and a proof-of-concept study for SGT-210 in Darier disease. The company entered an Asset Purchase Agreement with Beimei Pharma to commercialize TWYNEO® in several regions, potentially earning up to $15M. Financially, Q1 revenue was $0.5M, up from $0.3M in Q1 2023. However, total prescriptions for TWYNEO and EPSOLAY declined by 23% and 14% respectively. R&D expenses decreased to $5.3M, contributing to a reduced net loss of $6.3M compared to $10.7M in Q1 2023.
Sol-Gel Technologies (NASDAQ: SLGL) has entered into a significant asset purchase agreement with Shenzhen Beimei Pharmaceutical Co. to commercialize TWYNEO® for acne vulgaris in mainland China, Hong Kong, Macau, Taiwan, and Israel.
Sol-Gel will receive up to $15 million, including $10 million in upfront and regulatory milestone payments, with the remaining $5 million as royalties on net sales. This agreement enhances the potential reach of TWYNEO beyond the U.S. market.
Beimei will handle the registration and commercialization of TWYNEO in these regions. This strategic move aims to address the unmet clinical need in the acne market, particularly among adolescents in China.
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