Opaleye boosts Sol-Gel Technologies (SLGL) stake in amended Form 4/A

Rhea-AI Filing Summary

Sol-Gel Technologies Ltd. reported an amended insider filing for Opaleye Management Inc., a more than 10% holder. Through Opaleye, L.P., a related fund, there was an open-market purchase of 100 ordinary shares at a price of 58.0000 per share on 2026-02-02.

After this trade, Opaleye, L.P. held 450,044 shares, and a separately managed account associated with Opaleye held 10,000 shares, both reported as indirect ownership. The amendment states it corrects the previously reported beneficially owned share count due to a clerical error, and Opaleye Management Inc. disclaims beneficial ownership except to the extent of its pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Opaleye Management Inc.

(Last) (First) (Middle)

ONE BOSTON PLACE,

26TH FLOOR

(Street)

BOSTON MA 02108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sol-Gel Technologies Ltd. [ SLGL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares, par value NIS 1.00 per share.	02/02/2026		P		100	A	$58	450,044	I	By Opaleye, L.P.(1)(3)(4)
Ordinary Shares, par value NIS 1.00 per share.								10,000	I	By Managed Account(2)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.

2. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account.

3. This amendment corrects the number of shares reported as beneficially owned due to a clerical error.

4. Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	Opaleye Management Inc., By: /s/ James Silverman, President	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Opaleye report for Sol-Gel Technologies (SLGL)?

Opaleye reported an open-market purchase of 100 Sol-Gel ordinary shares at a price of 58.0000 per share. The trade was made indirectly through Opaleye, L.P., with Opaleye Management Inc. acting as the fund’s investment manager.

How many Sol-Gel (SLGL) shares does Opaleye report owning after this Form 4/A?

After the reported transaction, Opaleye, L.P. held 450,044 Sol-Gel ordinary shares, and a separately managed account associated with Opaleye held 10,000 shares. Both positions are reported as indirect ownership relationships tied to Opaleye Management Inc.

What was corrected by this amended Form 4/A for Sol-Gel Technologies (SLGL)?

The amendment corrects the number of Sol-Gel shares previously reported as beneficially owned, which the filer states was wrong due to a clerical error. It updates the ownership totals while keeping the underlying trade details intact.

Does Opaleye Management Inc. claim full beneficial ownership of its Sol-Gel (SLGL) holdings?

No. Opaleye Management Inc. expressly disclaims beneficial ownership of the reported Sol-Gel shares except to the extent of its pecuniary interest. This means economic exposure is acknowledged, but broader beneficial ownership is not fully admitted.

How is Opaleye’s Sol-Gel (SLGL) ownership structured between entities?

Shares are held indirectly through two channels: Opaleye, L.P., which owned 450,044 shares after the trade, and a separately managed account holding 10,000 shares. Opaleye Management Inc. serves as investment manager or portfolio manager for these entities.

What type of security did Opaleye trade in Sol-Gel Technologies (SLGL)?

The transaction involved Sol-Gel Technologies ordinary shares with a par value of NIS 1.00 per share. Opaleye, L.P. acquired 100 of these ordinary shares in an open-market purchase on 2026-02-02 at a price of 58.0000 per share.