Sol-Gel Technologies prices $33.1 million share offering at $72 each

Sol-Gel Technologies Ltd. (NASDAQ: SLGL) announced the pricing of an underwritten public offering of 459,112 ordinary shares at $72.00 per share, generating gross proceeds of approximately $33.1 million before fees and expenses.

The Israeli dermatology company said the offering was oversubscribed and included participation from new and existing investors, including Great Point Partners, Trails Edge Capital Partners, Surveyor Capital, Affinity Asset Advisors, Squadron Capital Management, Stonepine Capital Management and AuGC BioFund.

The offering is expected to close on or about March 25, 2026, subject to customary closing conditions. TD Cowen and LifeSci Capital are serving as joint book-running managers for the transaction.

Sol-Gel intends to use net proceeds to fund continued development of SGT-610, including pre-commercialization activities and research and development, with the remainder allocated to working capital and general corporate purposes.

SGT-610 is the company's lead investigational candidate, a topical hedgehog inhibitor in Phase 3 development for preventing new basal cell carcinoma lesions in patients with Gorlin syndrome. The treatment has received orphan drug and breakthrough therapy designations.

The shares are being offered under the company's effective shelf registration statement on Form F-3 filed with the Securities and Exchange Commission. Sol-Gel will file a final prospectus supplement describing the offering terms with the SEC.

Sol-Gel Technologies is a dermatology company focused on developing therapies for rare and serious skin diseases. The company has two FDA-approved products, TWYNEO and EPSOLAY, and is also advancing SGT-210, a topical EGFR inhibitor.

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