Sol-Gel Tech ( (SLGL) ) has released its Q2 earnings. Here is a breakdown of the information Sol-Gel Tech presented to its investors.
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Sol-Gel Technologies, Ltd., a dermatology company listed on NASDAQ, focuses on developing treatments for severe skin conditions, including Gorlin syndrome and Darier disease, with a strong emphasis on innovative topical solutions.
In its latest earnings report, Sol-Gel Technologies announced significant progress in its clinical trials and strategic partnerships. The company completed patient enrollment for its Phase-3 trial of SGT-610 for Gorlin Syndrome, with results expected in late 2026. Additionally, Sol-Gel entered a $16 million agreement with Mayne Pharma for the U.S. rights to its dermatology products, EPSOLAY and TWYNEO.
Financially, Sol-Gel reported a notable increase in revenue for the second quarter of 2025, reaching $17.2 million, a significant rise from the previous year’s $5.4 million. This growth was largely driven by the $16 million deal with Mayne Pharma. The company also achieved a net income of $11.6 million, a stark contrast to the $1.9 million loss in the same period last year. Research and development expenses rose to $4.6 million, reflecting increased investment in their key clinical trials.
Strategically, Sol-Gel is advancing its pipeline with ongoing trials for SGT-210 for Darier disease, despite recruitment challenges. The company is also leveraging its partnership with Mayne Pharma to extend its cash runway into early 2027, facilitating further R&D investments. The reverse share split implemented in May aims to maintain its NASDAQ listing and improve share price stability.
Looking ahead, Sol-Gel remains focused on delivering pivotal clinical data and expanding its market presence. The management is optimistic about the potential of SGT-610 and SGT-210 to meet unmet medical needs and generate substantial revenue, while also capitalizing on global demand for TWYNEO and EPSOLAY to enhance shareholder value.