Company: Sol-Gel Technologies, Ltd.
Symbol: SLGL
Description: They are a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases
Shares: 5 million
Price Range: $11.00-$13.00
Trade Date: 2/1
Underwriter(s): Jefferies, BMO Capital Markets
Co-Manager(s): JMP Securities, Raymond James
Terms Added: 1-23-18
Business: Their current product candidate pipeline consists of late-stage branded product candidates that leverage our proprietary, silica-based microencapsulation technology platform, and several generic product candidates across multiple indications. Their lead product candidate, TWIN, is a novel, once-daily, non-antibiotic topical cream that we are developing for the treatment of acne vulgaris, or acne. They recently completed a 726 subject, double-blind, placebo-controlled, six-arm, multi-center Phase II clinical trial designed to assess the safety and efficacy of TWIN in subjects with facial acne. In this trial, TWIN demonstrated statistically significant improvements in all pre-defined co-primary and secondary efficacy endpoints, as compared to vehicle. Subject to an End of Phase II meeting to be scheduled with the FDA, they plan to initiate two pivotal Phase III trials for TWIN in the United States in the second half of 2018 and expect to report top-line data from these trials in 2019. Their other branded product candidates are: SIRS-T, a topical cream containing encapsulated tretinoin for the potential treatment of acne; and VERED, a potential treatment for subtype II rosacea.
Insider Buying: Their controlling shareholder, M. Arkin Dermatology Ltd., which is wholly owned by the chairman of our board of directors, has indicated an interest in purchasing up to an aggregate of $25.0 million of our ordinary shares in this offering at the initial public offering price.
Collaboration: Three of their generic product candidates are being developed in collaboration with Perrigo UK Finco Limited Partnership, or Perrigo, which has significant experience in the development of generic drugs.
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