Form 4: Opaleye Management Boosts Sol-Gel Technologies Stake

Opaleye Management Inc., a 10% owner and director, increased its beneficial ownership in Sol-Gel Technologies Ltd. through recent share purchases.

Summary

• Opaleye Management Inc., identified as a 10% owner and director of Sol-Gel Technologies Ltd. (SLGL), reported two purchases of ordinary shares.
• On November 24, 2025, Opaleye Management Inc. acquired 6 ordinary shares at a price of $35.5 per share.
• On November 26, 2025, an additional 943 ordinary shares were purchased at a weighted average price of $40 per share, with transactions ranging from $39.99 to $40.00.
• Following these transactions, Opaleye, L.P. beneficially owns 364,100 ordinary shares.
• A separately managed account, for which Opaleye Management Inc. acts as portfolio manager, beneficially owns an additional 10,000 ordinary shares.
• The total beneficial ownership attributed to Opaleye Management Inc. (through Opaleye, L.P. and the Managed Account) is 374,100 ordinary shares.
• Opaleye Management Inc. disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest.

Sentiment

Score: 8

Explanation: The sentiment is strongly positive due to significant insider buying by a 10% owner and director, indicating high confidence in the company's prospects.

Positives

• A significant shareholder and director, Opaleye Management Inc., increased its stake in Sol-Gel Technologies Ltd., signaling confidence in the company's future prospects.
• The purchases were made at prices up to $40 per share, indicating a belief in the company's value at or above current market levels.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance from the company or management, but the insider purchases may implicitly signal a positive outlook from the reporting person.

Management Comments

• Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

Insider buying by a significant shareholder and director can be interpreted as a positive signal within the biotechnology or pharmaceutical industry, suggesting that those with intimate knowledge of the company believe its shares are undervalued or expect positive developments.

Related Party Transactions

• Opaleye Management Inc. (the reporting person) is the investment manager for Opaleye, L.P. and the portfolio manager for a separately managed account, through which the reported shares are indirectly beneficially owned. This constitutes a related party transaction as the reporting person is a 10% owner and director of the issuer.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, potentially boosting investor confidence and demand for the stock.
• The transactions demonstrate continued commitment from a major institutional investor and director, which could be seen favorably by the market.

Key Dates

Recommendation

The insider buying by Opaleye Management Inc., a 10% owner and director, signals strong confidence in Sol-Gel Technologies Ltd.'s future. Such actions by well-informed parties often precede positive company developments or reflect a belief that the stock is undervalued, making it a compelling 'buy' signal for seasoned investors.

Keywords

Sol-Gel Technologies, SLGL, Opaleye Management, Insider Buying, Form 4, SEC Filing, Share Purchase, Beneficial Ownership, Investment Management