Sol-Gel Q2 Loss Seen Widening to $2.57/Share, Revenue Plunges 96.5%
SLGL has more than doubled off its 52-week low of $13.5 on elevated volume (2.1× avg).
Summary
Analysts now expect Sol-Gel to report a Q2 loss of $2.57 per share, a sharp worsening from the $1.84 loss forecast in May. Revenue is projected to crater 96.5% to just $600K, down from $17.26M a year ago. This follows the May 28 disclosure of a patent extension for lead drug SGT-610 and funding into 2028, but the deteriorating financial outlook raises immediate cash burn concerns. The company reports on August 13.
At the time of this announcement, SLGL was trading at $84.74 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $277M. The 52-week trading range was $13.50 to $97.97. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.