Opaleye Group (SLGL) reports 15.41% holding — 500,000 shares disclosed

Rhea-AI Filing Summary

Opaleye Management Inc., Opaleye, L.P. and James Silverman reported beneficial ownership of Ordinary Shares of Sol-Gel Technologies Ltd. The filing states the reporting persons collectively hold 500,000 shares, representing 15.41% of the class, based on 3,245,270 Ordinary Shares outstanding as of March 25, 2026. The Adviser and Fund relationship is disclosed: the Adviser advises the Fund and Mr. Silverman exercises control over the Adviser. The filing clarifies it should not be construed as an admission of beneficial ownership under Section 13.

Insights

Institutional Ownership Analyst

Opaleye reports a 15.41% stake in Sol-Gel, disclosed under Schedule 13G/A.

The Schedule 13G/A records 500,000 shares held with shared voting and dispositive power, identifying an adviser–fund–principal control chain: Opaleye Management Inc. advises Opaleye, L.P., and James Silverman controls the Adviser. This structure is typical for investment managers reporting ownership.

Timing and scale are explicit: shares outstanding were March 25, 2026. Cash‑flow treatment and any trading intent are not stated in the excerpt; subsequent filings would show changes.

Compliance / SEC Filings Specialist

Filing follows Schedule 13G/A disclosure format and includes joint filing agreement.

The statement lists citizenship, principal business office, CUSIP, and exact share counts with vote/dispositive splits. It includes the required signature block and an Exhibit 99.1 joint filing agreement reference. The statement repeats the conventional reservation that reporting does not establish Section 13 beneficial ownership.

Investors or reviewers looking for changes in position should compare this amendment to prior 13G/A or 13D filings for movement; this excerpt contains the reported position snapshot only.

Key Figures

Shares beneficially owned: 500,000 shares Percent of class: 15.41% Opaleye, L.P. holding: 485,000 shares +1 more

4 metrics

Shares beneficially owned 500,000 shares reported by Opaleye/James Silverman

Percent of class 15.41% based on 3,245,270 shares outstanding as of March 25, 2026

Opaleye, L.P. holding 485,000 shares reported beneficial ownership reported for the Fund

Shares outstanding (denominator) 3,245,270 shares as of March 25, 2026 (prospectus referenced)

Key Terms

Schedule 13G/A, Shared dispositive power, Beneficial ownership

3 terms

Schedule 13G/A regulatory

"This statement is filed by (i) Opaleye Management Inc. ..."

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Shared dispositive power regulatory

"Shared power to dispose or to direct the disposition of: 500,000.00"

Beneficial ownership financial

"Amount beneficially owned: 500,000.00"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Sol-Gel Technologies Ltd

(Name of Issuer)

Ordinary Shares, par value NIS 1.00 per share.

(Title of Class of Securities)

M8694L137

(CUSIP Number)

03/31/2026

(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 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

15.41 %

12

Type of Reporting Person (See Instructions)

IA

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 485,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 485,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

485,000.00

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)

14.94 %

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 500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

500,000.00

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)

15.41 %

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: 6 HaChoshlim St., Bldg. C, Herzliya, ISRAEL, 6701101
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 with respect to shares directly held by the Fund. The Adviser serves as investment adviser to the Fund. Mr. Silverman exercises control over the Adviser. Based on 3,245,270 Ordinary Shares outstanding on March 25, 2026, as provided in the Issuer's 424(b)(3) prospectus filed with the SEC on March 24, 2026. The filing of this statement should not be construed as an admission that any of the foregoing persons is, for the purposes of Section 13 of the Securities Exchange Act, the beneficial owner of the shares reported herein.
(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. - Massachusetts 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: 500,000.00
(b)	Percent of class: 15.41 %
(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: 500,000.00
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 500,000.00
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.
	Not Applicable
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:	05/06/2026

Opaleye, L.P.

Signature:	/s/ James Silverman
Name/Title:	General Partner
Date:	05/06/2026

James Silverman

Signature:	/s/ James Silverman
Name/Title:	Individually
Date:	05/06/2026

Comments accompanying signature: Exhibit 99.1 Joint Filing Agreement by and among the reporting persons

FAQ

What stake did Opaleye report in Sol-Gel (SLGL)?

The filing reports 500,000 shares, equal to 15.41% of Sol-Gel's ordinary shares based on 3,245,270 shares outstanding as of March 25, 2026. The position shows shared voting and dispositive power.

Who are the reporting persons on the Schedule 13G/A for SLGL?

The statement is filed by Opaleye Management Inc. (the Adviser), Opaleye, L.P. (the Fund) and James Silverman, who exercises control over the Adviser. Addresses and citizenships are included in the filing.

Does the filing state Opaleye is the beneficial owner under Section 13?

The filing explicitly states that it should not be construed as an admission that any reporting person is the beneficial owner for purposes of Section 13. It provides the reported ownership facts without conceding legal status.

What voting and dispositive powers are reported for the 500,000 shares?

For the reported 500,000 shares, the filing shows 0 sole voting and 500,000 shared voting power, and 0 sole dispositive and 500,000 shared dispositive power.

What is the significance of the March 25, 2026 share count?

The March 25, 2026 figure of 3,245,270 Ordinary Shares outstanding is the denominator used to compute the 15.41% ownership percentage reported in the Schedule 13G/A.