Sol-Gel Completes Gorlin Syndrome Trial Enrollment, Extends Cash Runway to Q1 2027.

• Sol-Gel completes patient enrollment for Phase-3 SGT-610 clinical trial • Top-line results expected in Q4 2026 • SGT-210 Phase-1b proof-of-concept trial ongoing for Darier disease • Sol-Gel buys EPSOLAY and TWYNEO for $16mln, extending cash runway to Q1 2027

Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a dermatology company, has reported robust financial results for the second quarter of 2025, ending June 30. The company announced key developments in its clinical trials and strategic partnerships that position it for continued growth.

The company completed enrollment in its Phase 3 clinical trial of SGT-610, a topical gel for Gorlin syndrome. Top-line results are expected in the fourth quarter of 2026. SGT-610, if approved, could be the first therapy to prevent new basal cell carcinomas (BCCs) in Gorlin syndrome patients, targeting potential peak revenue exceeding $300 million annually [1].

Additionally, Sol-Gel’s Phase 1b proof-of-concept trial of SGT-210 for Darier disease is ongoing. Darier disease is a significant unmet medical need with a market potential estimated between $200 to $300 million. The study, delayed due to recruitment challenges in Israel, is expected to complete and report top-line results in the fourth quarter of 2025 [1].

In a significant commercial move, Sol-Gel purchased the U.S. rights to EPSOLAY and TWYNEO from Mayne Pharma for a total consideration of $16 million. The agreement includes two installments of $10 million and $6 million, extending the company’s cash runway into the first quarter of 2027. This deal follows the termination of the exclusive five-year license agreement with Galderma [1].

Financial Results for Q2 2025:
- Total revenue for the second quarter was $17.2 million, primarily consisting of $0.5 million in royalty revenue from Galderma and $16 million from the sale of IP under the agreement with Mayne.
- Research and development expenses were $4.6 million, up from $2.4 million in the same period last year.
- General and administrative expenses remained at $1.4 million.
- Sol-Gel reported a net income of $11.6 million and earnings of $4.17 per basic and diluted share for the quarter.
- As of June 30, 2025, the company had $10.2 million in cash, cash equivalents, and deposits, and $14 million in marketable securities, totaling $24.2 million [1].

Sol-Gel’s strategic initiatives and robust financial performance position it well for future growth and potential market expansion. The company remains focused on delivering pivotal data for SGT-610, advancing SGT-210, and translating the global demand for TWYNEO and EPSOLAY into meaningful, non-dilutive revenues [1].

References:
[1] https://finance.yahoo.com/news/sol-gel-reports-second-quarter-110000749.html