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Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative topical dermatological drug products. The company's core focus is on utilizing its proprietary microencapsulation delivery system, which leverages silica-based microcapsules to enhance the efficacy and tolerability of dermatological treatments. This technology creates a protective barrier around drug substances, controlling the release rate and reducing side effects. Sol-Gel's lead product candidates, Vered for papulopustular rosacea and Twin and Sirs-T for acne vulgaris, are prime examples of this advanced delivery system in action.
Sol-Gel has achieved significant milestones in its product pipeline. The company has received FDA approval for two major dermatology products: TWYNEO® and EPSOLAY®. TWYNEO, which combines tretinoin and benzoyl peroxide, is designed for the topical treatment of acne vulgaris. EPSOLAY, which contains encapsulated benzoyl peroxide, addresses inflammatory lesions of rosacea. Both products are commercialized in the U.S. by Galderma.
A key highlight of Sol-Gel's innovative approach is SGT-610, a hedgehog signaling pathway blocker in development for the prevention of new basal cell carcinoma (BCC) lesions in patients with Gorlin syndrome. This candidate, which has received Orphan Drug and Breakthrough Therapy designations from the FDA, is currently undergoing pivotal Phase 3 testing. If approved, SGT-610 could become the first treatment specifically for Gorlin syndrome, a genetic disorder that predisposes individuals to developing BCC.
Financially, Sol-Gel reported a revenue of $0.2 million for the third quarter of 2023, primarily from licensing agreements. The company incurred research and development expenses of $4.7 million and general and administrative expenses of $1.9 million in the same quarter. Despite a net loss of $5.7 million, Sol-Gel maintains a robust financial position with $26.1 million in cash, cash equivalents, and deposits, and $17.2 million in marketable securities as of September 30, 2023. This financial stability is expected to support the company's operations and capital expenditure requirements into the second half of 2025.
Sol-Gel's commitment to addressing unmet needs in dermatology extends beyond its own products. The company is actively engaged in discussions with potential partners to secure new international licenses for its marketed products. This strategy aims to generate non-dilutive capital and expand the global reach of its innovative dermatological treatments.
For more detailed information, please visit www.sol-gel.com.
Sol-Gel Technologies (NASDAQ: SLGL) announced its participation in two upcoming virtual investor conferences. The first is the H.C. Wainwright 6th Annual Israel Conference on November 12, 2020, at 8:30 AM ET, featuring CEO Dr. Alon Seri-Levy. The second is the Jefferies Virtual London Healthcare Conference on November 18, 2020, at 5:00 PM GMT, with several executives, including CFO Gilad Mamlok. Webcasts of the presentations will be accessible on the company’s website.
Sol-Gel Technologies, Ltd. (NASDAQ: SLGL) will announce its third quarter 2020 financial results on November 12, 2020, at 7:05 AM ET. The company is a clinical-stage dermatology firm that specializes in developing branded and generic topical products for skin diseases. Their innovative microencapsulation technology is being used for products such as Twyneo and Epsolay, which are under investigation for acne vulgaris and papulopustular rosacea, respectively. Other pipeline projects include SGT-210, tapinarof, and roflumilast.
Sol-Gel Technologies (NASDAQ: SLGL) announced the FDA's acceptance of its New Drug Application (NDA) for Epsolay®, a topical cream targeting inflammatory lesions in rosacea. The PDUFA goal date is set for April 26, 2021, which could make Epsolay the first FDA-approved single-agent benzoyl peroxide prescription product. Results from Phase 3 trials, involving 733 patients, showed significant improvements in treatment outcomes compared to the vehicle. The adverse reactions were mostly mild to moderate, indicating a favorable safety profile.
Sol-Gel Technologies (NASDAQ: SLGL), a clinical-stage dermatology company, announced participation in upcoming virtual investor conferences. CEO Dr. Alon Seri-Levy will provide a company overview, while CFO Gilad Mamlok will represent Sol-Gel at the H.C. Wainwright Healthcare Conference on September 15, 2020, at 10:00 AM ET. Additionally, a fireside chat featuring Dr. Seri-Levy, Mr. Mamlok, and John Vieira is scheduled for the Cantor Fitzgerald Virtual Global Healthcare Conference on September 17, 2020, at 8:40 AM ET. Webcasts will be available on the company's website.
On September 3, 2020, Sol-Gel Technologies (NASDAQ: SLGL) reported that Bausch Health initiated a patent infringement lawsuit regarding Perrigo's ANDA for a generic version of Duobrii® lotion, which treats plaque psoriasis. Perrigo's application, filed on July 23, asserts that certain patents are invalid or will not be infringed. Duobrii® had annual sales of $88.4 million as of July 2020. Sol-Gel collaborates with Perrigo, sharing development costs and profits from the potential commercialization of the generic product.
Sol-Gel Technologies (NASDAQ: SLGL) reported Q2 2020 financial results, achieving $1.1 million in revenue, primarily from a collaboration with Perrigo. The company submitted a New Drug Application for Epsolay, aimed at treating subtype II rosacea, and is on track for another NDA submission for Twyneo in H2 2020. R&D expenses decreased to $6.5 million, down from $11.4 million year-on-year, while general and administrative costs rose to $2.2 million. Sol-Gel reported a net loss of $7.1 million, up from $4.9 million in Q2 2019. The company holds $66 million in cash and marketable securities, sufficient to fund operations into Q3 2021.
Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a clinical-stage dermatology firm, is set to report its second quarter 2020 financial results on August 6, 2020, at 7:05 AM ET. The company focuses on developing branded and generic topical drugs for skin diseases, utilizing its proprietary microencapsulation technology. Key products include Twyneo for acne vulgaris and Epsolay for rosacea. The pipeline also features early-stage and preclinical assets targeting various skin conditions.
Sol-Gel Technologies (NASDAQ: SLGL) announced an anticipated FDA approval of a generic drug in Q2 2021, following a partnership agreement. The brand's sales exceeded $180 million in 2019, indicating significant market potential. This launch could establish a new revenue stream for Sol-Gel in 2021, enhancing its financial outlook. CEO Alon Seri-Levy expressed optimism about the brand's entry into the market, emphasizing its potential benefits for the company's growth.
Sol-Gel Technologies (NASDAQ: SLGL) has expanded its collaboration with Perrigo Company for the development and commercialization of three new generic dermatology product candidates. Perrigo will pursue FDA approval and lead commercialization if successful. This partnership builds on previous agreements and is expected to generate significant revenue for Sol-Gel. Additionally, the company is focused on submitting NDAs for its branded candidates, Epsolay® and Twyneo®, later this year. However, a patent infringement issue has arisen involving Bausch Health regarding a generic version of Bryhali®.
Sol-Gel Technologies (NASDAQ: SLGL) will present at the BMO 2020 Prescriptions for Success Healthcare Conference on June 23, 2020, at 11:00 am Eastern Time. CEO Alon Seri-Levy will speak at the event. Investors can access a live audio webcast on the company's website, with a replay available for 30 days. Sol-Gel focuses on developing topical drug products for skin diseases, leveraging its microencapsulation technology. The company's pipeline includes treatments for acne and rosacea, along with other early-stage and preclinical assets.
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