Opaleye Management (SLGL) linked entities buy 39,665 Sol-Gel shares

Rhea-AI Filing Summary

Sol-Gel Technologies Ltd. reported insider buying by entities associated with Opaleye Management Inc., a more than ten percent owner. On March 24, 2026, Opaleye, L.P. purchased 34,665 ordinary shares at 72 per share, bringing its holdings to 485,000 shares. A separately managed account overseen by Opaleye Management bought an additional 5,000 shares at 72 per share, increasing that account’s position to 15,000 shares. Opaleye Management Inc. may be deemed to beneficially own these securities as investment manager and portfolio manager, but explicitly 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

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)
03/24/2026

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.	03/24/2026		P		34,665	A	$72	485,000	I	By Opaleye, L.P.(1)(3)
Ordinary Shares, par value NIS 1.00 per share.	03/24/2026		P		5,000	A	$72	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	03/24/2026
	** 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)

FAQ

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

Entities associated with Opaleye Management reported open-market purchases of 39,665 Sol-Gel ordinary shares on March 24, 2026. Opaleye, L.P. bought 34,665 shares, and a separately managed account purchased 5,000 shares, all at a price of 72 per share.

Who actually holds the Sol-Gel Technologies (SLGL) shares in this Form 4?

The shares are held by Opaleye, L.P. and a separately managed account. Opaleye Management Inc. serves as investment manager or portfolio manager for these entities and may be deemed a beneficial owner but formally disclaims beneficial ownership beyond its pecuniary interest.

How many Sol-Gel (SLGL) shares does Opaleye, L.P. hold after these purchases?

Following the reported open-market purchase, Opaleye, L.P. holds 485,000 ordinary shares of Sol-Gel. This figure reflects the position after buying 34,665 shares at a price of 72 per share on March 24, 2026.

What is the position of the managed account linked to Opaleye in Sol-Gel (SLGL)?

After buying 5,000 Sol-Gel ordinary shares at 72 per share on March 24, 2026, the separately managed account overseen by Opaleye Management Inc. holds a total of 15,000 shares, as reported in the Form 4 filing.

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

Opaleye Management Inc. states it may be deemed to beneficially own the shares held by Opaleye, L.P. and the managed account, but it disclaims beneficial ownership of all reported shares except to the extent of its pecuniary interest in those securities.

What type of transactions were reported in the Sol-Gel (SLGL) Form 4 by Opaleye?

The filing reports open-market purchases of Sol-Gel ordinary shares, coded as “P” transactions. These are non-derivative acquisitions, not option exercises or gifts, and are categorized as buys under the Form 4 transaction summary.