Opaleye Management buys Sol-Gel Technologies shares

Opaleye Management Inc., a more than ten percent owner of Sol-Gel Technologies Ltd., reported an indirect open-market purchase of 951 Ordinary Shares on 2026-08-12 at $71.50 per share, held via Opaleye, L.P.

Rhea-AI Filing Summary

Opaleye Management Inc., a more than ten percent owner of Sol-Gel Technologies Ltd., reported an indirect open-market purchase of 951 Ordinary Shares on 2026-08-12 at $71.50 per share, held via Opaleye, L.P. Following this trade, that fund’s indirect holdings in Sol-Gel total 494,887 Ordinary Shares. A separate line reports 15,000 Ordinary Shares held in a managed account. Opaleye Management Inc. states that it may be deemed to beneficially own these securities through its roles with the fund and managed account, but disclaims beneficial ownership except to the extent of its pecuniary interest.

Insider Trade Summary

Net Buyer: 951 shares

Net Buy 2 txns

Insider Opaleye Management Inc.

Role 10% Owner

Bought 951 shs ($68K)

Type	Security	Shares	Price	Value
Purchase	Ordinary Shares, par value NIS 1.00 per share F1, F3	951	$71.50	$68K
holding	Ordinary Shares, par value NIS 1.00 per share F2, F3	--	--	--

Holdings After Transaction: Ordinary Shares, par value NIS 1.00 per share — 494,887 shares (Indirect, By Opaleye, L.P.); Ordinary Shares, par value NIS 1.00 per share — 15,000 shares (Indirect, By Managed Account)

Footnotes (3)

1. F1. 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. F2. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye Management, Inc. may be deemed to beneficially own the securities owned directly by the Managed Account.
3. F3. 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.

Key Figures

Shares purchased: 951 Ordinary Shares Purchase price: $71.50 per share Holdings via Opaleye, L.P.: 494,887 Ordinary Shares +2 more

5 metrics

Shares purchased 951 Ordinary Shares Indirect purchase by Opaleye, L.P. on 2026-08-12

Purchase price $71.50 per share Price for 951 Ordinary Shares bought on 2026-08-12

Holdings via Opaleye, L.P. 494,887 Ordinary Shares Total indirect holdings following the reported purchase

Managed account holdings 15,000 Ordinary Shares Indirectly reported as owned by a separately managed account

Net buy shares 951 Ordinary Shares Net buy volume across reported non-derivative transactions

Key Terms

beneficially own, separately managed account, pecuniary interest, Section 16(a) of the Securities Exchange Act of 1934

4 terms

beneficially own regulatory

"Opaleye Management, Inc. may be deemed to beneficially own the securities owned directly"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

separately managed account financial

"Securities owned by a separately managed account (the "Managed Account")."

A separately managed account (SMA) is a personalized investment portfolio owned by a single investor and run by a professional manager who buys and sells securities on that investor’s behalf. It matters to investors because an SMA offers tailored asset selection, tax handling, and transparency—like hiring a personal chef who prepares meals to your dietary needs rather than sharing a set menu—so you can align holdings with your goals and see exactly what you own.

pecuniary interest regulatory

"disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest"

Section 16(a) of the Securities Exchange Act of 1934 regulatory

"for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

Opaleye Management reported an indirect purchase of 951 Ordinary Shares of Sol-Gel Technologies on 2026-08-12 at $71.50 per share, held through Opaleye, L.P., increasing that fund’s reported position to 494,887 shares.

How many Sol-Gel Technologies (SLGL) shares does Opaleye Management report holding after this Form 4?

After the reported transaction, Opaleye-linked entities report 494,887 Ordinary Shares held via Opaleye, L.P. and 15,000 Ordinary Shares in a separately managed account. Opaleye Management may be deemed to beneficially own these but disclaims beneficial ownership except for its pecuniary interest.

Was the Sol-Gel Technologies (SLGL) trade by Opaleye Management a buy or sell?

The reported Sol-Gel Technologies transaction was a buy. Opaleye, L.P., associated with Opaleye Management, purchased 951 Ordinary Shares in an open-market or private transaction at $71.50 per share on 2026-08-12.

How are Opaleye Management’s Sol-Gel Technologies (SLGL) holdings structured?

Holdings are reported as indirect. 494,887 shares are owned directly by Opaleye, L.P., and 15,000 shares by a separately managed account. Opaleye Management is the investment manager or portfolio manager for these vehicles and may be deemed to beneficially own the securities.

What beneficial ownership disclaimer did Opaleye Management include regarding Sol-Gel Technologies (SLGL)?

Opaleye Management disclaims beneficial ownership of the reported Sol-Gel shares, except to the extent of its pecuniary interest. It also states that the Form 4 filing should not be construed as an admission of beneficial ownership for Section 16(a) or any other purpose.

Does Opaleye Management’s Form 4 indicate managed account holdings of Sol-Gel Technologies (SLGL)?

Yes. The filing reports 15,000 Ordinary Shares of Sol-Gel Technologies held in a separately managed account. Opaleye Management, as portfolio manager of this account, may be deemed to beneficially own these shares but disclaims beneficial ownership beyond its pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2026 - 04:05 PM EDT Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 MASSACHUSETTS 02108

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2026

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

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

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

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	08/12/2026		P		951	A	$71.5	494,887	I	By Opaleye, L.P.(1)(3)
Ordinary Shares, par value NIS 1.00 per share								15,000	I	By Managed Account(2)(3)

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 Management, Inc. may be deemed to beneficially own the securities owned directly by the Managed Account.

3. 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	08/14/2026
	** 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.
* Form 4: SEC 1474 (03-26)