Sol-Gel extends cash runway, ongoing clinical trials, new license agreements, positive financial results

From GlobeNewswire: 2024-08-17 11:27:38

Sol-Gel Technologies Ltd. has extended its cash runway to Q1 of 2026 following recent transactions and cost-cutting efforts. Phase 3 clinical trial for SGT-610 for Gorlin Syndrome is ongoing with top-line results expected by Q2 of 2026. SGT-210 proof-of-concept study in patients with Darier disease is also ongoing. Sol-Gel sold its rights in the ANDA drug product generic to Zoryve Cream. License agreements for TWYNEO and EPSOLAY have been signed in Europe and South Africa with more negotiations in other territories. Financial results for Q2 2024 showed total revenue of $5.4 million and net income of $1.9 million. Total cash, cash equivalents, and deposits were $30.5 million as of June 30, 2024, with a forecast to fund cash requirements into Q1 2026. The Company is committed to expanding its rare disease projects and exploring non-dilutive funding opportunities.



Read more at GlobeNewswire: Sol-Gel Reports Second Quarter 2024 Financial