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. reports clinical, regulatory and commercial developments for a dermatology business focused on topical drug products for skin diseases. Company updates center on SGT-610, patidegib gel 2%, for the prevention of new basal cell carcinomas in Gorlin syndrome, and SGT-210, erlotinib ointment 5%, which has been evaluated in rare skin keratoderma indications including Darier disease.
News also covers TWYNEO for acne vulgaris and EPSOLAY for inflammatory lesions of rosacea, including product approvals and territorial licensing or commercialization arrangements. Financial releases discuss research and development spending, revenue tied to partnerships and approved products, cash resources, shareholder voting matters, and capital-structure actions such as the company's reverse share split.
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Sol-Gel Technologies (NASDAQ: SLGL) will present at H.C. Wainwright’s Autoimmune & Inflammatory Disease Virtual Event on March 30, 2023, at 8:30 am EDT. The presentation will be delivered live via webcast, available here. Sol-Gel's pipeline includes FDA-approved drugs TWYNEO and EPSOLAY, and candidates like SGT-610 and SGT-210 for skin disease treatments. A replay will be accessible for 30 days post-event via the Investor Relations section of their website.
Sol-Gel Technologies (NASDAQ: SLGL) announced the acquisition of SGT-610 (patidegib), an Orphan Drug candidate aimed at preventing basal cell carcinomas in Gorlin syndrome. The Phase 3 study is set to start in late 2023 with results expected by late 2025. In Q4 2022, the recurring prescriber base for TWYNEO was 82%, while EPSOLAY's was 64%. The company reported total revenue of $3.9 million for 2022, down from $31.3 million in 2021, with a net loss of $14.9 million. Following a recent financing, Sol-Gel's cash runway now extends through the second half of 2025, positioning it to support SGT-610's development.
Sol-Gel Technologies, Ltd. (NASDAQ: SLGL) announced a registered direct offering and concurrent private placements, pricing 2,560,000 ordinary shares at $5.00 each, with expected gross proceeds of approximately $22.8 million. The offerings include unregistered warrants to purchase an equal number of shares with an exercise price of $5.85. The proceeds will fund the acquisition of SGT-610 for Gorlin syndrome treatment and support research activities. The expected closure of these transactions is around January 31, 2023, subject to customary conditions. The company expects its cash resources to sustain operations into the second half of 2025.
Sol-Gel Technologies (NASDAQ: SLGL) has announced the acquisition of patidegib, a hedgehog signaling pathway blocker, from PellePharm. This drug is targeted for treating Gorlin syndrome, a rare disease with no FDA-approved therapies. The acquisition is set to close around January 30, 2023, with a total upfront payment of $4.7 million and potential milestone payments totaling up to $70.7 million. The Phase 3 study for SGT-610 is expected to start in the latter half of 2023, aiming for FDA approval by the end of 2025, with projected peak sales exceeding $300 million annually.