Sol-Gel(US:SLGL) Globenewswireยท2025-05-23 11:15Core Viewpoint - Sol-Gel Technologies, Ltd. reported financial results for the first quarter of 2025, showing an increase in total revenue but a higher net loss compared to the same period in 2024 [2][4]. Financial Performance - Total revenue for the first quarter of 2025 was $1 million, a 100% increase from $0.5 million in the same period in 2024 [2]. - Research and development expenses rose to $8.8 million from $5.3 million in the first quarter of 2024, primarily due to supplier-led manufacturing development for SGT-610 [3]. - General and administrative expenses decreased to $1.3 million from $1.8 million in the same period in 2024, attributed to cost measures taken in 2024 [4]. - The net loss for the first quarter of 2025 was $8.8 million, compared to a net loss of $6.3 million in the first quarter of 2024, with a basic and diluted loss per share of $3.2 compared to $2.3 in 2024 [4]. Cash Position - As of March 31, 2025, Sol-Gel had $16.9 million in cash and cash equivalents, with no marketable securities, expected to fund operations into the first quarter of 2027 [5]. Company Overview - Sol-Gel Technologies focuses on developing and commercializing drug products for skin diseases, with FDA-approved products TWYNEO and EPSOLAY for acne and rosacea, respectively [6]. - The company's pipeline includes SGT-610, an Orphan Drug candidate for basal cell carcinoma prevention, and SGT-210 for rare skin keratodermas [7].