SLGLNasdaqPharmaceutical PreparationsUS GAAP · USD

Sol-Gel Technologies Ltd.

Sol-Gel Technologies Ltd. is an Israel-based dermatology and pharmaceutical company that develops and commercializes prescription treatments for skin diseases. Its business centers on branded topical products and product candidates, with commercialization carried out directly in some markets and through licensing partners in others.

Kysy yhtiöstä
Liikevaihto19,4milj. USD
+68,0 %v/v
Liikevoitto (EBIT)−7,5milj. USD
+37,3 %v/v
EBIT-marginaali−38,9%
+65,2 %-yks.v/v
Nettotulos−6,1milj. USD
+42,1 %v/v
Vapaa kassavirta0,3milj. USD
+102,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−40−2002040milj. USD2020: 8,8 milj. USD2020: EBIT −30 milj. USD20202021: 31 milj. USD2021: EBIT 3,0 milj. USD20212022: 3,9 milj. USD2022: EBIT −16 milj. USD20222023: 1,6 milj. USD2023: EBIT −29 milj. USD20232024: 12 milj. USD2024: EBIT −12 milj. USD20242025: 19 milj. USD2025: EBIT −7,5 milj. USD202519−7,5
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Sol-Gel Technologies Ltd.

Liiketoiminta

Osuus liikevaihdosta
Commercial dermatology products85 %

Approved prescription skin treatments sold through partners and licensees in multiple territories.

Clinical-stage product candidates10 %

Investigational dermatology programs being advanced through clinical development.

Licensing and royalties5 %

Upfront, milestone, and royalty income from out-licensing commercial rights by territory.

Tuotteet

Raportoitu · osuus liikevaihdosta
95,9%FY2025100 %
  • License95,9 %
  • Royalty3,6 %
  • Services and other0,4 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Sol-Gel sells into the dermatology prescription market, so the end users are patients treated by dermatologists and other prescribing physicians. Its commercial counterparties are pharmaceutical partners and licensees that obtain rights to market TWYNEO® and EPSOLAY® in specific countries or regions. Revenue is therefore driven by both product demand in local markets and the pace of partner-led launches.

Dermatology prescribers

Dermatologists and other physicians prescribe TWYNEO® and EPSOLAY® for acne and rosacea.

Territory license partners

Pharma partners buy commercialization rights, pay milestones, and generate royalties in their markets.

Patients

Patients are the end users of the prescription products, with demand driven by disease prevalence and physician adoption.

Clinical research sites

Sites and investigators support development of SGT-610 and other pipeline studies.

Strategia

Sol-Gel’s strategy is to expand TWYNEO® and EPSOLAY® through territory-by-territory licensing agreements that can generate upfront, milestone and ongoing royalty income. At the same time, it is advancing SGT-610 through clinical development to broaden the pipeline beyond marketed dermatology assets.

Expand licensing coverage for TWYNEO® and EPSOLAY®Lyhyt aikaväli

Broader territory coverage increases upfront payments, milestone potential and future royalties.

Convert signed agreements into product launchesKeskipitkä aikaväli

Royalties depend on partner commercialization and market launch timing.

Advance SGT-610 through clinical developmentKeskipitkä aikaväli

Pipeline success could create a new future dermatology franchise beyond current products.

Maantiede

2025

Sol-Gel is headquartered in Ness Ziona, Israel, and its commercial footprint spans a mix of direct and partner-led international markets. The company has signed licensing agreements covering parts of Europe, South Africa, South Korea, Australia and New Zealand, with additional rights in India, China, Hong Kong, Macau, Taiwan, Israel, and Canada. This geography mix makes the business dependent on partner execution and regulatory timing across multiple jurisdictions.

USA73 %
Israel17 %
Kanada7,3 %
Sveitsi3,1 %
Kina0,1 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Sol-Gel depends on the success of clinical development, regulatory approvals, and partner commercialization, all of which can delay or prevent revenue generation. Because much of the business is licensed internationally, execution risk is shared with third parties and exposed to local market, regulatory and launch-timing uncertainty.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Partner commercialization risk1Clinical development risk for SGT-6102Regulatory approval and timing risk3Geopolitical exposure in Israel4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Partner commercialization riskVaikutus: KorkeaTodennäköisyys: Korkea

    Royalties and milestones depend on licensees successfully launching and marketing the products.

    KohdistuuTerritory agreements in EuropeAsia-PacificAfricaNorth America
  2. Clinical development risk for SGT-610Vaikutus: KorkeaTodennäköisyys: Kohtalainen

    The product candidate must succeed in late-stage trials to support future value creation.

    Kohdistuu: Phase 3 Gorlin syndrome program and HF-BCC study

  3. Regulatory approval and timing riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Commercialization depends on obtaining approvals and avoiding delays in target markets.

    Kohdistuu: TWYNEO® and EPSOLAY® launches across multiple countries

  4. Geopolitical exposure in IsraelVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company is headquartered in Israel and referenced regional conflict as a business risk.

    Kohdistuu: Corporate operations and oversight in Israel

Kysy Clarifolta: Sol-Gel Technologies Ltd.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

Different streams such as product sales, royalties and milestones may be recognized at different points in time.

Vaikutus: Can cause uneven quarterly revenue

Clinical development costs

R&D expenses are driven by trial phases, patient enrollment and external study costs.

Vaikutus: Affects operating loss and cash burn

Fair value of marketable securities

The company holds marketable securities that can affect financial income and balance-sheet values.

Vaikutus: Impacts non-operating income

Share-based compensation

Biopharma companies often use equity awards to retain talent and fund operations.

Vaikutus: Affects operating expenses and equity

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Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 28.9.2026