Sol-Gel Technologies (SLGL) Q1 2025 earnings summary

Executive summary

• First quarter 2025 revenue increased to $1.0 million from $0.5 million year-over-year.

• Net loss widened to $8.8 million, or $3.2 per share, compared to $6.3 million, or $2.3 per share, in Q1 2024.

• Cash, cash equivalents, and deposits totaled $16.9 million as of March 31, 2025.

Financial highlights

• Research and development expenses rose to $8.8 million, up $3.5 million year-over-year, mainly due to SGT-610 manufacturing and commercialization efforts.

• General and administrative expenses decreased to $1.3 million from $1.8 million, reflecting cost-saving measures.

• Operating loss increased to $9.1 million from $6.7 million year-over-year.

Outlook and guidance

• Cash resources are expected to fund operations into the first quarter of 2027.