SCHEDULE: Opaleye Management Discloses 5% Stake in Sol-Gel Technologies

Opaleye Management Inc., along with Opaleye, L.P. and James Silverman, has reported a 5.00% beneficial ownership in Sol-Gel Technologies Ltd.'s ordinary shares.

Summary

• Opaleye Management Inc., Opaleye, L.P., and James Silverman collectively reported beneficial ownership of 139,386 ordinary shares of Sol-Gel Technologies Ltd.
• This represents 5.00% of the issuer's outstanding ordinary shares, based on 2,785,787 shares reported by Sol-Gel Technologies Ltd. in its most recent SEC filing (Form POS AM).
• The reporting persons certified that the securities were not acquired for the purpose of changing or influencing control of Sol-Gel Technologies Ltd.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing indicates a significant institutional investor has taken a passive stake, which can be seen as a vote of confidence, but it provides no operational or financial updates on the company itself.

Positives

• A significant institutional investor, Opaleye Management Inc., has taken a 5.00% stake in Sol-Gel Technologies Ltd., potentially indicating confidence in the company's prospects.

Negatives

• No negative information regarding Sol-Gel Technologies Ltd. is disclosed in this beneficial ownership filing.

Risks

• The filing itself does not detail specific risks for Sol-Gel Technologies Ltd. It is a disclosure of an investor's stake.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance from Sol-Gel Technologies Ltd. or the reporting persons regarding the issuer's future performance.

Management Comments

• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing primarily concerns an investor's stake and does not provide specific insights into broader industry trends or competitive landscape for Sol-Gel Technologies Ltd.

Comparison to Industry Standards

• Not applicable, as this filing is a disclosure of beneficial ownership by an investment entity, not a performance report of the issuer.

Stakeholder Impact

• Shareholders: Will note the emergence of a new significant institutional investor holding 5.00% of the company's ordinary shares.

Next Steps

• The filing does not mention any specific future actions, events, or milestones for Sol-Gel Technologies Ltd. or the reporting persons beyond the ongoing passive investment.

Key Dates

Keywords

Sol-Gel Technologies, Opaleye Management, Opaleye L.P., James Silverman, Schedule 13G, Beneficial Ownership, Ordinary Shares, Investment Adviser, Passive Investment