Sol-Gel Technologies reported a net loss of $3.7 million ($1.13 per share) for the second quarter ended June 30, 2026, compared to a net income of $11.6 million in the prior year period driven by IP sales. Revenue fell to $0.6 million from $17.3 million as the Mayne Pharma license sale concluded. The company holds $49.3 million in cash and securities, funding operations through Q1 2028. Clinically, the pivotal Phase 3 trial for SGT-610 in Gorlin syndrome continues with a low 9% dropout rate; last patient visit is expected in September 2026 with top-line results anticipated in late November 2026. Sol-Gel also initiated proof-of-concept studies for high-frequency basal cell carcinoma and topical patidegib as a neo-adjuvant in BCC surgery, alongside filing a provisional patent for an intra-cystic injectable treatment for odontogenic keratocysts. The company operates in the dermatology industry, developing innovative therapies for rare and severe skin conditions.