The EPS beat is largely mechanical (lower R&D spend) and revenue collapsed, but the patent extension and capital raise de-risk the Phase 3 catalyst in Q4 2026. Monitor for top-line results; the stock may trade on pipeline milestones rather than quarterly financials.
Price Chart
Executive Summary
Sol-Gel reported Q1 2026 EPS of -$1.31, a 62.6% beat vs consensus of -$2.86, but revenue fell 90% YoY to $0.1M due to a prior-year milestone payment. The company raised $33.1M in an oversubscribed offering, received a patent allowance for SGT-610 extending protection to 2044, and signed an India license for TWYNEO. The Phase 3 readout for SGT-610 in Gorlin syndrome remains on track for Q4 2026.
Key Financial Metrics
Key Facts
- Q1 2026 EPS -$1.31 vs consensus -$2.86 (62.6% beat)
- Q1 2026 revenue $0.1M vs $1.0M YoY (down 90%)
- Raised $33.1M gross in March 2026 underwritten offering
- U.S. patent allowance for topical patidegib (SGT-610) extends protection to 2044
- Phase 3 SGT-610 top-line results expected Q4 2026
- Exclusive license agreement with Sun Pharma for TWYNEO in India
- Cash and marketable securities $52.8M as of March 31, 2026; runway into Q1 2028
- Net loss $3.7M vs $8.8M YoY (improved on lower R&D spend)
Financial Impact
EPS beat of 62.6% on a -$2.86 consensus; revenue decline of 90% YoY to $0.1M; $33.1M capital raise; cash position $52.8M
Risk Factors
- Phase 3 SGT-610 trial failure or delay beyond Q4 2026
- Dilution from $33.1M offering (shares outstanding increased ~17% from Dec 2025)
- Revenue decline reflects non-recurring milestone; no recurring revenue base
- Pre-commercialization stage; no approved product revenue from SGT-610
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3302777 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $75.64 | awaiting T+20 | — | $69.63 (−7.95%) |
Sep 30, 2026 26d ago | 6-K | $74.28 | awaiting T+20 | — | $69.63 (−6.26%) |
Sep 17, 2026 5w ago | 6-K | $64.54 $68.70 | ▲ +6.45% | ▲ +4.99% | $69.63 (+7.89%) |
Sep 14, 2026 6w ago | Insider Buy | $64.40 $68.30 | ▲ +6.06% | ▲ +3.08% | $69.63 (+8.12%) |
Sep 9, 2026 6w ago | Insider Buy | $66.79 $70.34 | ▲ +5.32% | ▲ +2.94% | $69.63 (+4.25%) |
Sep 3, 2026 7w ago | Insider Buy | $69.52 $78.95 | ▲ +13.56% | ▲ +12.96% | $69.63 (+0.16%) |
Aug 31, 2026 8w ago | Insider Buy | $69.52 $74.28 | ▲ +6.85% | ▲ +6.53% | $69.63 (+0.16%) |
Aug 20, 2026 9w ago | 6-K | $78.50 $64.54 | ▼ −17.78% | ▼ −17.78% | $69.63 (−11.29%) |
Aug 20, 2026 9w ago | Press Release | $78.50 $64.54 | ▼ −17.78% | ▼ −17.78% | $69.63 (−11.29%) |
Aug 14, 2026 10w ago | Insider Buy | $83.01 $64.40 | ▼ −22.42% | ▼ −20.44% | $69.63 (−16.12%) |
US Market Status
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