Opaleye Management Inc. 4

What Happened

• Opaleye Management Inc., identified as a 10% owner of Sol‑Gel Technologies Ltd. (SLGL), purchased a total of 39,665 shares on 2026-03-24 via open‑market/private purchases (transaction code P). The trades were 34,665 shares at $72.00 ($2,495,880) and 5,000 shares at $72.00 ($360,000), for an aggregate cost of $2,855,880. This was a purchase (buy), which is generally viewed as a positive/accumulation signal rather than a sale.

Key Details

• Transaction date: 2026-03-24
• Trades: 34,665 shares @ $72.00 = $2,495,880; 5,000 shares @ $72.00 = $360,000; Total = 39,665 shares @ $72.00 = $2,855,880
• Transaction type/code: P = Purchase (open market or private purchase)
• Shares owned after transaction: Not specified in the provided filing
• Filing timeliness: Report filed on 2026-03-24 (same date as the reported transactions)
• Footnotes:
  • F1/F2 note that these shares are owned directly by investment vehicles (Opaleye, L.P. and a separately managed account) for which Opaleye Management, Inc. is the investment/portfolio manager.
  • F3 states Opaleye Management disclaims beneficial ownership except to the extent of its pecuniary interest; the filing is not an admission of beneficial ownership for Section 16(a) purposes.

Context

• This filing reports institutional buying by a 10% owner (investment manager) rather than insider trading by an executive; such institutional purchases reflect portfolio-level activity and should be interpreted differently than officer/director trades.
• Because these were outright purchases (not option exercises, awards, or gifts), they represent accumulation of shares rather than liquidity transactions.