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Sol-Gel Technologies Ltd. (SLGL) ordinary shares are the subject of an amended ownership statement in which Opaleye Management Inc. and its controlling person, James Silverman, may be deemed beneficial owners of 540,000 shares, or 16.49% of the class. Opaleye, L.P. directly holds 525,000 shares, or 16.04%; a separately managed account advised by Opaleye Management holds 15,000 shares.
Opaleye, L.P. reported shared voting and dispositive power over its 525,000 shares. Opaleye Management and Silverman reported those powers over the 540,000-share aggregate. The percentages are based on 3,273,999 ordinary shares outstanding as of October 6, 2026.
"may be deemed to beneficially own the 540,000 Ordinary Shares"
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.
shared voting powerregulatory
"Shared Voting Power 540,000.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerregulatory
"Shared Dispositive Power 540,000.00"
separately managed accountfinancial
"a separately managed account advised by the Adviser"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many SLGL shares did Opaleye Management and James Silverman report?
Opaleye Management Inc. and its controlling person, James Silverman, may be deemed beneficial owners of 540,000 ordinary shares, or 16.49% of the class. The amount comprises 525,000 shares held directly by Opaleye, L.P. and 15,000 held by a separately managed account advised by Opaleye Management.
Who receives dividends and sale proceeds from the reported SLGL shares?
Opaleye, L.P. and the separately managed account client are entitled to dividends and sale proceeds from their respective shares. Only the Fund's interest exceeds 5% of outstanding ordinary shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
Sol-Gel Technologies Ltd
(Name of Issuer)
Ordinary Shares, par value NIS 1.00 per share.
(Title of Class of Securities)
M8694L137
(CUSIP Number)
09/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
M8694L137
1
Names of Reporting Persons
Opaleye Management Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MASSACHUSETTS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
540,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
540,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
540,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.49 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Based on 3,273,999 Ordinary Shares outstanding as of October 6, 2026, as reported in the Issuer's proxy statement furnished with its October 2026 Form 6-K.
SCHEDULE 13G
CUSIP Number(s):
M8694L137
1
Names of Reporting Persons
Opaleye, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
525,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
525,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
525,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.04 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
M8694L137
1
Names of Reporting Persons
James Silverman
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
540,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
540,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
540,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
16.49 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Sol-Gel Technologies Ltd
(b)
Address of issuer's principal executive offices:
7 Golda Meir St., Weizmann Science Park, Ness Ziona, 7403650, Israel.
Item 2.
(a)
Name of person filing:
This statement is filed by (i) Opaleye Management Inc. (the "Adviser"), (ii) Opaleye, L.P. (the "Fund"), and (iii) James Silverman (collectively, the "Reporting Persons"). The Fund directly holds 525,000 Ordinary Shares, par value NIS 1.00 per share (the "Ordinary Shares"), of Sol-Gel Technologies Ltd. (the "Issuer"), and a separately managed account advised by the Adviser (the "Managed Account") directly holds 15,000 Ordinary Shares. The Adviser, as investment adviser to the Fund and the Managed Account, and Mr. Silverman, as the controlling person of the Adviser, may be deemed to beneficially own the 540,000 Ordinary Shares held in the aggregate by the Fund and the Managed Account.
(b)
Address or principal business office or, if none, residence:
One Boston Place, 26th Floor, Boston, MA 02108
(c)
Citizenship:
Opaleye Management Inc. - Massachusetts Opaleye, L.P. - Delaware James Silverman - USA
(d)
Title of class of securities:
Ordinary Shares, par value NIS 1.00 per share.
(e)
CUSIP No.:
M8694L137
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
540,000.00
Items 4(a) through 4(c) reflect the beneficial ownership of the Adviser and Mr. Silverman. The Fund beneficially owns 525,000 Ordinary Shares (16.04%), with shared voting and dispositive power over all such shares. See Rows 5 through 11 of each cover page.
(b)
Percent of class:
16.49 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
540,000.00
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
540,000.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Fund and the Managed Account client are entitled to dividends and sale proceeds from their respective shares. Only the Fund's interest exceeds 5% of the outstanding Ordinary Shares.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Opaleye Management Inc.
Signature:
/s/ James Silverman
Name/Title:
President
Date:
11/06/2026
Opaleye, L.P.
Signature:
Opaleye GP LLC, its General Partner /s/ James Silverman
Name/Title:
Managing Member
Date:
11/06/2026
James Silverman
Signature:
/s/ James Silverman
Name/Title:
Individually
Date:
11/06/2026
Exhibit Information
Exhibit 99.1 Joint Filing Agreement by and among the reporting persons
