Sol-Gel (SLGL) 10% Owner Opaleye Management Buys Shares

What Happened
Opaleye Management, Inc. (reported as a 10% owner via funds/accounts it manages) made open-market purchases of Sol‑Gel Technologies (SLGL) totaling 40,330 shares for approximately $2.79 million. Transactions reported: 10,000 shares at $71.40 ($713,969); 20,113 shares at $68.42 ($1,376,137); 5,000 shares at $68.81 ($344,050); 5,000 shares at $68.23 ($341,175); and 217 shares at $69.10 ($14,995). The filing notes the 10,000‑share entry corrects an erroneous sale, while the remaining 30,113 shares are new acquisitions.

Key Details

• Transaction dates: primarily Aug 28, 2026 (multiple purchases) and Aug 31, 2026 (additional purchases). Form 4 filed Aug 31, 2026.
• Prices and totals: see above; aggregate ≈ $2,790,326 for 40,330 shares. Some price entries are reported as weighted averages (see footnotes).
• Shares owned after transaction: not disclosed in the provided filing summary.
• Footnotes of note:
  • F1/F2: Shares are held directly by an Opaleye fund and a separately managed account; Opaleye Management, Inc. is the investment/portfolio manager and may be deemed to beneficially own those securities.
  • F3/F4: Certain prices are weighted averages from multiple trades (ranges disclosed in footnotes); detailed per‑price breakdown is available upon SEC/staff request.
  • F5: Opaleye Management disclaims beneficial ownership except to the extent of its pecuniary interest.
• Timeliness: Form 4 was filed on Aug 31, 2026; given the Aug 28–31 transaction dates, the filing appears within the typical 2‑business‑day reporting window.

Context

• This is institutional trading by a 10% owner (fund/managed account), not an executive/director personal trade. Institutional purchases can signal increased interest but are not the same as insider executive buying.
• The filing corrected an earlier erroneous sale for 10,000 shares — corrections are administrative and do not necessarily reflect new trading intent.