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.
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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.
Sol-Gel Technologies (NASDAQ: SLGL) reported Q3 2022 financial results with revenue of $0.3 million, a significant decline from $8.8 million in Q3 2021. The decreased revenue is attributed to lower sales from EPSOLAY and TWYNEO, despite improvements in prescriber adoption. Research and development expenses dropped to $2.0 million from $6.0 million year-over-year, aiding in cash management. The company reported a loss of $3.4 million, down from a profit of $1.3 million in the previous year. However, Sol-Gel's cash runway is projected to last through Q1 2024, supported by ongoing partnerships.