# EDGAR Filing Document

**Accession Number:** 0001595855
**File Stem:** 0001493152-25-023857
**Filing Date:** 2025-11
**Character Count:** 13187
**Document Hash:** 7595043c943cda748f0e06898560b1a8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-023857.hdr.sgml**: 20251117

**ACCESSION NUMBER**: 0001493152-25-023857

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251117

**DATE AS OF CHANGE**: 20251117

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sol-Gel Technologies Ltd.
- **CENTRAL INDEX KEY:** 0001684693
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90328
- **FILM NUMBER:** 251491243

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 7 GOLDA MEIR ST.
- **STREET 2:** WEIZMANN SCIENCE PARK
- **CITY:** NESS ZIONA
- **NON US STATE TERRITORY:** L3
- **PROVINCE COUNTRY:** L3
- **ZIP:** 7403648
- **BUSINESS PHONE:** 97289313433

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 7 GOLDA MEIR ST.
- **STREET 2:** WEIZMANN SCIENCE PARK
- **CITY:** NESS ZIONA
- **NON US STATE TERRITORY:** L3
- **PROVINCE COUNTRY:** L3
- **ZIP:** 7403648
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Opaleye Management Inc.
- **CENTRAL INDEX KEY:** 0001595855

**ORGANIZATION NAME:**
- **EIN:** 205648796
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** ONE BOSTON PLACE
- **STREET 2:** SUITE 2600
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02108
- **BUSINESS PHONE:** 617-904-9195

**MAIL ADDRESS:**
- **STREET 1:** ONE BOSTON PLACE
- **STREET 2:** SUITE 2600
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02108

## Exhibit 99.1

**Exhibit 99.1**

**JOINT FILING AGREEMENT**

This Joint Filing Agreement, dated as of November 17, 2025, is by and among Opaleye Management Inc., Opaleye, L.P. and James Silverman (collectively, the "Filers").

Each of the Filers may be required to file with the United States Securities and Exchange Commission a statement on Schedule 13D and/or 13G with respect to Ordinary Shares of Sol-Gel Technologies Ltd. beneficially owned by them from time to time.

Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement on Schedule 13D and/or 13G (and any amendments thereto) on behalf of each of the Filers, and hereby further agree to file this Joint Filing Agreement as an exhibit to such statement, as required by such rule.

This Joint Filing Agreement may be terminated by any of the Filers upon written notice or such lesser period of notice as the Filers may mutually agree.

Executed and delivered as of the date first above written.

---

| | |
|:---|:---|
| OPALEYE MANAGEMENT INC. | OPALEYE MANAGEMENT INC. |
| By: | /s/ James Silverman |
| Name: | James Silverman |
| Title: | President |
| OPALEYE, L.P. | OPALEYE, L.P. |
| By: | /s/ James Silverman |
| Name: | James Silverman |
| Title: | General Partner |
| JAMES SILVERMAN | JAMES SILVERMAN |
| /s/ James Silverman | /s/ James Silverman |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** Sol-Gel Technologies Ltd

**Title of Class of Securities:** Ordinary Shares, par value NIS 1.00 per share.

**CUSIP Number:** M8694L137

**Date of Event Which Requires Filing of this Statement:** 11/13/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Opaleye Management Inc. | Names of Reporting Persons<br>Opaleye Management Inc. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MA | Citizenship or Place of Organization<br>MA |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>367367.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>367367.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>367367.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>367367.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>13.19% | Percent of Class Represented by Amount in Row (9)<br>13.19% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, CO | Type of Reporting Person (See Instructions)<br>IA, CO |

---

| 1. | Names of Reporting Persons<br>Opaleye, L.P. | Names of Reporting Persons<br>Opaleye, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MA | Citizenship or Place of Organization<br>MA |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>357367.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>357367.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>357367.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>357367.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>12.83% | Percent of Class Represented by Amount in Row (9)<br>12.83% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Based on 2,785,787 Ordinary Shares outstanding as of 09/24/2025 as reported by Sol-Gel Technologies Ltd on 09/25/2025, in its 2025 Proxy Statement.

---

| 1. | Names of Reporting Persons<br>James Silverman | Names of Reporting Persons<br>James Silverman |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>367367.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>367367.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>367367.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>367367.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>13.19% | Percent of Class Represented by Amount in Row (9)<br>13.19% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

---

**Item 1(a). Name of Issuer:**
Sol-Gel Technologies Ltd

**Item 1(b). Address of Issuer's Principal Executive Offices:**
6 HaChoshlim St., Bldg. C, Herzliya, ISRAEL, 6701101

**Item 2(a). Name of Person Filing:**
Opaleye Management Inc. Opaleye, L.P. James Silverman This statement is filed by (i) Opaleye Management Inc. (the "Adviser"), (ii) Opaleye, L.P. (the "Fund") and (iii) James Silverman with respect to shares directly held by the Fund. The Adviser serves as investment adviser to the Fund. Mr. Silverman exercises control over the Adviser. The filing of this statement should not be construed as an admission that any of the foregoing persons is, for the purposes of Section 13 of the Securities Exchange Act, the beneficial owner of the shares reported herein.

**Item 2(b). Address of Principal Business Office:**
One Boston Place, 26th Floor, Boston, MA 02108

**Item 2(c). Citizenship:**
Opaleye Management Inc. - Massachusetts Opaleye, L.P. - Massachusetts James Silverman - USA

**Item 2(d). Title of Class of Securities:**
Ordinary Shares, par value NIS 1.00 per share.

**Item 2(e). CUSIP Number:**
M8694L137

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [x] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [x] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

367,367.00

**(b) Percent of class:**

13.19 %

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

0

**(ii) Shared power to vote or to direct the vote:**

367,367.00

**(iii) Sole power to dispose or to direct the disposition of:**

0

**(iv) Shared power to dispose or to direct the disposition of:**

367,367.00

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Opaleye Management Inc.**

**Date:** 11/17/2025

**By:** /s/ James Silverman

**Name & Title:** President

**Opaleye, L.P.**

**Date:** 11/17/2025

**By:** /s/ James Silverman

**Name & Title:** General Partner

**James Silverman**

**Date:** 11/17/2025

**By:** /s/ James Silverman

**Name & Title:** Individually