SCHEDULE: Opaleye Boosts Sol-Gel Technologies Stake to 16.52%

Opaleye Management Inc., Opaleye, L.P., and James Silverman have collectively reported a 16.52% beneficial ownership stake in Sol-Gel Technologies Ltd.

Summary

• Opaleye Management Inc., Opaleye, L.P., and James Silverman have filed a Schedule 13G, reporting beneficial ownership of Sol-Gel Technologies Ltd. Ordinary Shares.
• Opaleye Management Inc. and James Silverman each beneficially own 460,335 Ordinary Shares, representing 16.52% of the class.
• Opaleye, L.P. beneficially owns 450,335 Ordinary Shares, representing 16.16% of the class.
• The ownership percentages are based on 2,786,158 Ordinary Shares outstanding as of December 31, 2025, as reported by Sol-Gel Technologies Ltd in its Annual Report on Form 20-F.
• The reporting persons share voting and dispositive power over the reported shares.
• The securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, indicating increased institutional confidence in Sol-Gel Technologies Ltd. through a significant ownership stake.

Positives

• Increased institutional ownership by Opaleye Management Inc., Opaleye, L.P., and James Silverman, which can signal confidence in Sol-Gel Technologies Ltd.
• The significant stake of 16.52% indicates a substantial commitment from the reporting entities.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Sol-Gel Technologies Ltd.'s future performance or operations.

Management Comments

• James Silverman, President of Opaleye Management Inc. and General Partner of Opaleye, L.P., certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

StockSavvy.ai notes that an increase in institutional ownership, particularly a significant stake like 16.52%, often signals a vote of confidence from sophisticated investors in a company's long-term prospects within its industry. This can be viewed positively by the market, suggesting that the company's fundamentals or strategic direction are appealing to large investment funds.

Stakeholder Impact

• Shareholders may view the increased institutional ownership as a positive indicator of investor confidence in Sol-Gel Technologies Ltd.

Key Dates

Recommendation

The filing indicates a significant institutional stake by Opaleye, which is generally a positive signal of investor confidence. However, as a Schedule 13G, it does not provide operational or financial performance details to warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' is appropriate, acknowledging the positive signal without further fundamental analysis.

Keywords

Sol-Gel Technologies, Opaleye Management, James Silverman, Schedule 13G, beneficial ownership, institutional investor, ordinary shares, M8694L137