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Sol-Gel Technologies, Ltd. today announced financial results for the first quarter ended March 31, 2024 and provided a corporate update.

Sol-Gel Technologies, Ltd. announced that it received a notification letter on May 21 2024, from the Nasdaq Stock Market LLC Listing Qualifications Department, stating that the Company is not in compliance with the requirement to maintain a minimum bid price of $1 per share, as set forth in Rule 5450 of the Nasdaq Listing Rules, since the closing bid price for the Company’s ordinary Shares listed on Nasdaq was below US$1.00 for 33 consecutive business days.

Sol-Gel Technologies, Ltd. (Nasdaq: SLGL) (“Sol-Gel”) today announced that it has begun Phase 3 testing of SGT-610 (patidegib gel, 2%) for Gorlin syndrome with the first patient screened.

Sol-Gel Technologies, Ltd. announced that Padagis Israel Pharmaceuticals Ltd, Sol-Gel’s collaboration partner, submitted a first-to-file Abbreviated New Drug Application to the U.S. Food and Drug Administration for Roflumilast Cream, 0.3%, a drug product generic to Zoryve® Cream, indicated for the treatment of plaque psoriasis in patients six years of age and older.

Sol-Gel Technologies, Ltd. announced that it has signed an asset purchase agreement with Chinese based Shenzhen Beimei Pharmaceutical Co. Ltd, for the commercialization of TWYNEO, for the treatment of acne vulgaris, in the mainland of China, Hong Kong, Macau, Taiwan and Israel.