Form 4: Opaleye Management Increases Sol-Gel Technologies Stake

Opaleye Management Inc., a 10% owner and director, reported significant purchases of Sol-Gel Technologies Ltd. ordinary shares.

Summary

• Opaleye Management Inc. reported acquiring a total of 6,864 ordinary shares of Sol-Gel Technologies Ltd. through two separate transactions.
• On December 1, 2025, 4,340 ordinary shares were purchased at a weighted average price of $37.3656 per share, with prices ranging from $36.945 to $37.95.
• On December 3, 2025, an additional 2,524 ordinary shares were purchased at a weighted average price of $37.8142 per share, with prices ranging from $37.40 to $37.90.
• Following these transactions, Opaleye, L.P. beneficially owns 370,964 ordinary shares, and a separately managed account beneficially owns 10,000 ordinary shares, bringing the total indirect beneficial ownership by Opaleye Management Inc. to 380,964 shares.
• Opaleye Management Inc. is the investment manager for Opaleye, L.P. and the portfolio manager for the Managed Account, and disclaims beneficial ownership except to the extent of its pecuniary interest.

Sentiment

Score: 8

Explanation: The significant insider buying by a 10% owner and director suggests strong confidence in the company's valuation and future performance, indicating a positive sentiment.

Positives

• A significant shareholder and director, Opaleye Management Inc., increased its beneficial ownership in Sol-Gel Technologies Ltd., signaling confidence in the company's future prospects.
• The purchases were made at current market valuations, indicating a willingness to invest at these price levels.

Future Outlook

NA

Industry Context

Insider buying by a significant shareholder and director is generally viewed by the market as a strong signal of confidence in a company's future performance and valuation. Such actions often suggest that the insider believes the stock is undervalued or anticipates positive developments.

Related Party Transactions

• The reported transactions involve Opaleye, L.P. and a separately managed account, both managed by the reporting person, Opaleye Management Inc., which is a 10% owner and director of Sol-Gel Technologies Ltd.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, potentially boosting investor confidence and demand for the stock.

Key Dates

Recommendation

The substantial purchases by a 10% owner and director, Opaleye Management Inc., indicate strong conviction in Sol-Gel Technologies Ltd.'s current valuation and future outlook. This insider buying often precedes positive company developments or reflects a belief that the stock is undervalued, making it a compelling 'buy' signal for investors.

Keywords

Sol-Gel Technologies, SLGL, Opaleye Management, Insider Buying, Form 4, Share Purchase, Beneficial Ownership, Director Purchase, 10% Owner