Business
Sol-Gel Technologies Reports First Quarter 2023 Financial Results and Provides Corporate Update
Positive trends continue for TWYNEO® and EPSOLAY® with recurrent prescriber bases at 98% for TWYNEO and 92% for EPSOLAY during Q1 2023 Sol-Gel on track to
About this update from Sol-gel Technologies Ltd.
[{"type":"text","content":"Positive trends continue for TWYNEO® and EPSOLAY® with recurrent prescriber bases at 98% for TWYNEO and 92% for EPSOLAY during Q1 2023 Sol-Gel on track to advance Orphan Drug candidate, SGT-610 (patidegib) for Gorlin syndrome into Phase 3 testing in late 2023 Phase 1 trial for SGT-210 (erlotinib) demonstrated no systemic absorption-related adverse events; Sol-Gel intends to advance this drug candidate Sol-Gel has cash runway into the second half of 2025 NESS ZIONA, Israel, May 12, 2023 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a dermatology company with two innovative dermatology products, EPSOLAY and TWYNEO, that were launched in the U.S., SGT-610, which is Phase 3-ready, and an earlier-stage SGT-210, today announced financial results for the first quarter ended March 31, 2023 and provided a corporate update. “This year we turned our focus towards a high-value segment of dermatology and helping those patients with significant unmet needs. We remain on track with our plans to initiate the pivotal Phase 3 trial for SGT-610, or patidegib, our recently acquired, Breakthrough-designated, Orphan Drug candidate with a market potential of over $300 million for the treatment of Gorlin syndrome, in late 2023,” stated Alon Seri-Levy, Ph.D., Chief Executive Officer of Sol-Gel. “In parallel, we continue to be pleased by the pace of uptake by prescribers, patients and payors for our Galderma-partnered products, TWYNEO and EPSOLAY. Galderma had an impressive presence to support both brands at the American Academy of Dermatology in March of this year, hosting several educational events and thought-leader presentations for physicians, and then held a targeted sales force training on EPSOLAY ahead of peak rosacea season. We remain confident about prospects to improve TWYNEO and EPSOLAY reimbursement and profitability over time and continue to seek out-licensing opportunities for our non-U.S. rights to both drugs.” Q1 2023 and Recent Corporate Developments On January 27, 2023, Sol-Gel announced the acquisition of topically applied patidegib, a hedgehog signaling pathway blocker, for the treatment of Gorlin syndrome from PellePharm, Inc. for an upfront payment of $4.7 million; in addition, Sol-Gel agreed to pay PellePharm total development and NDA acceptance milestones of up to $6.0 million, and, based on the expected market p...