Sol-Gel Technologies Ltd.
SLGL evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for SLGL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SLGL
Sol-Gel Technologies Ltd. is a dermatology-focused biopharmaceutical company developing topical products for skin conditions, with two FDA-approved products (Twyneo and Epsolay) and a lead pipeline candidate (SGT-610) in Phase 3 trials.
Key risk: Going concern uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Dec 31, 2025.
Tracking 4 clinical trials · 1 catalyst for Sol-Gel Technologies Ltd..
Sol-Gel Technologies Ltd. is a dermatology-focused biopharmaceutical company developing topical products for skin conditions, with two FDA-approved products (Twyneo and Epsolay) and a lead pipeline candidate (SGT-610) in Phase 3 trials.
- Sol-Gel has two FDA-approved products: Twyneo (acne vulgaris, approved 2021) and Epsolay (rosacea, approved 2022) [sec · filed 2026-03-19].
- Lead pipeline candidate SGT-610 is in a Phase 3 clinical study for a dermatologic indication [sec · filed 2026-03-19].
- Cash and equivalents were $12.2M as of 2025-12-31 [sec].
- The company has a history of net losses and expects to continue incurring losses for the foreseeable future [sec · filed 2026-03-19].
- Audited financial statements for 2025 include a 'going concern' explanatory paragraph due to net loss, negative cash flow, and working capital level [sec · filed 2026-03-19].
What works
- Two FDA-approved products (Twyneo and Epsolay) provide a commercial revenue base and regulatory validation [sec · filed 2026-03-19].
- The company has a proprietary topical formulation platform that may enable differentiated dermatology products [sec · filed 2026-03-19].
- Management believes existing cash will fund operations into the first quarter of 2027, providing a near-term runway [sec · filed 2026-03-19].
What to weigh
- The company has a history of recurring losses and its audited financial statements include a 'going concern' explanatory paragraph [sec · filed 2026-03-19].
- All pipeline candidates are in development; there is no guarantee of regulatory approval or commercial success [sec · filed 2026-03-19].
- Substantial additional funding will be needed to pursue business objectives, and if not obtained, operations may be curtailed [sec · filed 2026-03-19].
- Revenue generation is highly dependent on successful commercialization of Twyneo, Epsolay, and future product candidates [sec · filed 2026-03-19].
From the filings
Quoted directly from source documents.
The company has a going concern qualification in its audited financial statements.
“Our independent registered public accounting firm has included a "going concern" explanatory paragraph in its report on our financial statements for the year ended December 31, 2025 based on our net loss, negative cash flow and our working capital level”
SEC filings · March 19, 2026
The company expects to need substantial additional funding.
“We will need substantial additional funding to pursue our business objectives. If we are unable to raise capital when needed, we could be forced to curtail our planned operations and the pursuit of our growth strategy.”
SEC filings · March 19, 2026
SGT-610 is in Phase 3 clinical development.
“complete the Phase III clinical study of SGT-610”
SEC filings · March 19, 2026
Twyneo and Epsolay have received FDA approval.
“Although we have received approval from the FDA with respect to our marketing applications for Twyneo in 2021 and Epsolay in 2022”
SEC filings · March 19, 2026
Catalyst timeline
- 2026-10-01 · Phase 3 Topline for patidegib — Topline results from a randomized, double-blind, vehicle-controlled Phase 3 study of patidegib (SGT-610) will be a key value inflection point.
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Audited 2025 financials include a going concern paragraph due to net loss, negative cash flow, and working capital level [sec · filed 2026-03-19].
- Need for additional capital — Company will need substantial additional funding; failure to raise capital may force curtailment of operations [sec · filed 2026-03-19].
- Clinical and regulatory risk — All pipeline candidates are in development; no guarantee of approval or successful commercialization [sec · filed 2026-03-19].
- Dependence on commercial success — Revenue depends on sales of Twyneo, Epsolay, and future products; profitability uncertain [sec · filed 2026-03-19].
What to watch
- Phase 3 topline data for SGT-610, expected around 2026-10-01 [upcoming catalysts].
- Cash runway and ability to secure additional financing to fund operations beyond Q1 2027 [sec · filed 2026-03-19].
- Commercial performance of Twyneo and Epsolay, which are key to revenue generation [sec · filed 2026-03-19].
- Regulatory updates for SGT-610 and other pipeline candidates [sec · filed 2026-03-19].
Sources: SEC filings · Generated August 28, 2026 · How we verify sources →
Run Sol-Gel Technologies Ltd. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available Sol-Gel Technologies Ltd. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
Cash runway data unavailable
D/E 0.31
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~32d
12 buys · 0 sells (180d)
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
14
Total value held
$29.9M
| Holder | Shares | Value |
|---|---|---|
| great point partners llc | 274,363 | $21.7M |
| citadel advisors llc | 37,145 | $2.9M |
| affinity asset advisors, llc | 35,000 | $2.8M |
| xtx topco ltd | 8,010 | $635K |
| jane street group, llc | 7,152 | $567K |
| raymond james financial inc | 5,733 | $454K |
| morgan stanley | 5,171 | $410K |
| lpl financial llc | 3,469 | $275K |
| blackrock, inc. | 953 | $75K |
| ubs group ag | 694 | $55K |
Showing top 10 of 14 institutional holders of Sol-Gel Technologies Ltd.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 3.9%
- Days to cover
- 0.7
- Shares short
- 39,739
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SLGL short interestFrequently asked questions
What is the AI investment thesis for Sol-Gel Technologies Ltd.?
Sol-Gel Technologies Ltd. is a dermatology-focused biopharmaceutical company developing topical products for skin conditions, with two FDA-approved products (Twyneo and Epsolay) and a lead pipeline candidate (SGT-610) in Phase 3 trials.
What is Sol-Gel Technologies Ltd.'s next catalyst?
Sol-Gel Technologies Ltd.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Multicenter, Randomized, Double Blind, Vehicle-controlled, Phase 3 Efficacy and Safety Study of Pa" — expected October 1, 2026.
Who is the CEO of Sol-Gel Technologies Ltd.?
Mr. Moshe Arkin is the chief executive officer of Sol-Gel Technologies Ltd. (SLGL).
Where is Sol-Gel Technologies Ltd. headquartered?
Sol-Gel Technologies Ltd. (SLGL) is headquartered in Ness Ziona, Israel.
What therapeutic areas does Sol-Gel Technologies Ltd. focus on?
Sol-Gel Technologies Ltd. develops therapies across Oncology, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.