Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Under the Securities Exchange Act of 1934
For the month of December 2019
Commission File Number 001-38367
(Translation of registrant’s name into English)
7 Golda Meir Street
Ness Ziona 7403650, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F            Form 40-F 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  


The Company is posting on its website a presentation titled “NASDAQ: SLGL”.
Attached hereto and incorporated by reference in this Report on Form 6-K is the following exhibit:
Exhibit 99.1: Corporate presentation titled “NASDAQ: SLGL”.



Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Date:  December 26, 2019
/s/ Gilad Mamlok
Gilad Mamlok
Chief Financial Officer





Exhibit 99.1


 FORWARD-LOOKING STATEMENTS  This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “future,” “outlook,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. The forward-looking statements in this presentation relate to, among other things, statements regarding the commencement of our planned bioequivalence study for a generic product candidate, our expected date to report top-line data from our pivotal Phase III clinical program for TWIN, our anticipated NDA submission dates for EPSOLAY and TWIN, and estimated sales of our product candidates. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statement, including but not limited to the following: the fact that we have and expect to continue to incur significant losses; our need for additional funding, which may not be available; our ability to complete the development of our product candidates; our ability to obtain and maintain regulatory approvals for our product candidates in our target markets and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; our ability to commercialize our product candidates; our ability to obtain and maintain adequate protection of our intellectual property; our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; our ability to establish adequate sales, marketing, and distribution channels; acceptance of our product candidates by healthcare professionals and patients; the possibility that we may face third-party claims of intellectual property infringement; the timing and results of clinical trials that we may conduct or that our competitors and others may conduct relating to our or their products; intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing, and sales, distribution and personnel resources than we do; potential product liability claims; potential adverse federal, state, and local government regulation in the United States, Europe, or Israel; and loss or retirement of key executives and research scientists. These and other important factors discussed in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 21, 2019, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this presentation. Any such forward-looking statements represent management’s estimates as of the date of this presentation. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation. This presentation contains trademarks, trade names, and service marks of other companies, which are the property of their respective owners. We do not intend our use or display of other parties' trademarks, trade names, or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. 

 THREE-FOLD STRATEGY  Leverage our capabilities to generate significant non-dilutive funding  Identify targeted opportunities in other areas of high unmet need where we can bring innovation and exceed current standard-of-care treatments  Successfully commercialize best-in-class dermatology brands in acne and rosacea, and maintain a leadership position in these indications 

 NOVEL DELIVERY SYSTEMFOR BEST-IN-CLASS TOPICAL DRUGS  Proprietarysilica-based microencapsulation topical delivery platform for dermatology indications   Positive phase III results from EPSOLAY® clinical trial in papulopustular rosacea in July 2019NDA submission anticipated in 1H/2020  TWYNEO® phase III data in acne vulgaris expected in Q4/2019NDA submission anticipated in 2H/2020  Completed follow-on offering of $11.5 million in August 2019Successfully raised $86.3 million in IPO in February 2018  Non-dilutive revenues of $18.8 million from generic pipeline in the first 9 months  Seasoned management team with proven track record and broad dermatologic experience    1    2    3    4    5    6 

                     Pipelines & upcoming milestones    BRANDED CANDIDATES  EPSOLAY®Papulopustular rosacea  TWYNEO®Acne vulgaris  Research/Preclinical  Proof of Concept  Phase I  Phase II  Phase III  1H/2020  2H/2020  Top-lineresultsin Q4/2019  GENERIC PRODUCTS/CANDIDATES  Ivermectin cream, 1%(RLD: Soolantra®)  Acyclovir cream, 5%(RLD: Zovirax®)  5-Fluorouracil cream, 5%(RLD: Efudex®)  TENTATIVE APPROVAL AS OF JANUARY 29, 2018  APPROVAL & SALES AS OF FEBRUARY 2019   BIOEQUIVALENCE ACHIEVED IN DEC 2019        Research  Filed  Bioequivalence                    SGT-210Palmoplantar keratoderma  NDA Submission  RLD, reference listed drug. 

 WHY SILICA?   FDA approved for topical useProprietary process produces high encapsulation efficiencyPhysical properties of silica shell tuned to modify release of active ingredientSmooth, no-grit feel for userStrong IP protection to 2032 (EPSOLAY®) and 2038 (TWYNEO®)    1  Silica monomers and drug substance are emulsified together   Silica monomers migrate to the oil/water interface in a well-controlled process  A silica shell, microcapsuleis formed   SOL-GEL PROCESS    2  Barrier between entrapped API and skin may reduce irritation and improve complianceAPIs stabilized via microencapsulation, allowing for novel combinationsHurdle for generics to demonstrate similar release profileIf approved, will be first core-shell encapsulation system for topical dermatology products  POTENTIAL BENEFITS    3  Foundation forbranded product pipeline 

 CRYO-SEM PICTURE  ENERGY-DISPERSIVE X-RAY SPECTROSCOPY MAPPING  Encapsulated Benzoyl Peroxide (E-BPO)  Skin lipids migrate through the silica shell to promote solubilization of BPO. Dissolved BPO then migrates to skin’s sebaceous follicles  Silica shell wraps BPO crystals and serves as a barrier between BPO crystals and skin, leading to less irritation      Controlled release improves tolerability 

 Patents and Trademarks  # of Patents Related to Company Products  5  11  34  15  4 in US, IL, CA, EP  EPSOLAY®  5 in US, CA, EP, IL  TWYNEO®  US Patents  Granted/Allowed  Pending  Foreign Patents  Granted/Allowed  Pending  Trademarks  Registered/Allowed  Registered/Allowed  Our intellectual property is protected through a series of patent families, describing and claiming our proprietary processes, formulations, and methods of use  IP, Expiry  Product/Indication  IP Protection for Our Branded Products (US)  Granted 2038Pending 2040  Granted 2032Pending 2040  TWYNEO®acne vulgaris  EPSOLAY®subtype II rosacea      Intellectual property estate 

 Encapsulation aims to reduce irritation of BPOPotential to be more effective than existing treatmentsPotential to be first FDA-approved single-agent BPO Rx drug product     Chronic, inflammatory condition that primarily affects the face and is often characterized by flushing, redness, inflamed bumps, and pustules  Topical antimicrobials (metronidazole, clindamycin); topical anti-mite (ivermectin); systemic antibiotics (minocycline, doxycycline)  Insufficient efficacy resulting in poor adherence, contributing to antibiotic resistance; systemic side effects  What ispapulopustular rosacea?  How is it treated?  What are the current treatment shortfalls?  Papulopustular rosacea  Inflammatory condition with poor adherence to current treatments    Our solution: EPSOLAY®Encapsulated benzoyl peroxide (E-BPO) 

 Male and female ≥18 years of age Clinical diagnosis of moderate to severe rosacea≥15 to ≤70 inflammatory lesions≤2 nodules  2:1  EPSOLAY® cream, 5% (once daily)  Vehicle cream (once daily)  54 Total SitesStudy 54-01: 361Study 54-02: 372  12 weeks of treatment  Baseline 2 4 8 12   Weeks  Inclusion criteria  Two phase III, double-blind, randomized, vehicle-controlled studies  EPSOLAY® Study design  PRIMARY ENDPOINTS:Proportion of patients with the primary measure of success, "Clear" (0) or "Almost clear" (1), in the Investigator GlobalAssessment (IGA) relative to baseline at Week 12Absolute mean change in inflammatory lesion counts from baseline to Week 12  Randomization 

 STUDY POPULATIONS & DISCONTINUATION  Study 54-02  Study 54-01  Percent of patients  EPSOLAY®  Vehicle  Randomized (n=243), Safety (n=239),Per Protocol (n=190)  Randomized (n=118), Safety (n=113),Per Protocol (n=93)  Randomized (n=250), Safety (n=249),Per Protocol (n=235)    Percent of patients  Randomized (n=122), Safety (n=120),Per Protocol (n=113)  Intent-to-treat population. 

 Patient severity at baseline    Study 54-01    Characteristic  EPSOLAY®  Vehicle   IGA “Moderate”IGA “Severe”  210 (86.4%)33 (13.6%)  104 (88.1%)14 (11.9%)  Mean lesion count (SD)Median lesion count (range)  25.7 (11.07)22.0 (15-69)  26.3 (12.45)21.0 (15-70)  Study 54-02    EPSOLAY®  Vehicle   227 (90.8%)23 (9.2%)  112 (91.8%)10 (8.2%)  29.8 (14.00)25.0 (15-70)  27.5 (13.04)22.5 (15-70) 

 Primary endpoints (itt)  Study 54-02  Study 54-01  P<0.001  P<0.001  Success in IGA at Week 12  Inflammatory Lesion Count Change From Baseline at Week 12  P<0.001  P<0.001  Study 54-02  Study 54-01  ITT, intent-to-treat.  

 Secondary endpoint (itt)  Inflammatory Lesion Percent Change From Baseline to Week 12  P<0.001  P<0.001  Study 54-02  Study 54-01 

 Success in iga (itt)  Week 2Exploratory Endpoint  P=0.009  P=0.017  Study 54-02  Study 54-01  Week 4Secondary Endpoint  P<0.001  P=0.009  Study 54-02  Study 54-01  Week 8Secondary Endpoint  P<0.001  P=0.006  Study 54-02  Study 54-01 

 Inflammatory lesion Count Change from Baseline (itt)  Study 54-02  Study 54-01  P<0.001  P<0.001  Week 2Exploratory Endpoint  Week 4Secondary Endpoint  Week 8Secondary Endpoint  Study 54-02  Study 54-01  P<0.001  P<0.001  Study 54-02  Study 54-01  P<0.001  P<0.001 

 Comparison of Onset of action tohistorical soolantra® results*  Rapid Onset of EPSOLAY®  *Sol-Gel did not conduct a head-to-head comparison trial or study. The results described above are for illustrative purposes only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study. 

 Baseline Characteristics of Active Arm  IGA  Severe  33  23  82  113  26  65  0  51  71  52  48      Moderate  210  227  369  346  172  418  557  444  443  67  77      Mild  0  0  0  0  0  0  0  0  0  8  17    Inflammatory Lesions    25.7  29.8  31.0  33.3  21.6  21.7  18.3  28.5  30.0  19.5  20.5  Inflammatory Lesions–Mean Percent Change From Baseline   Success in IGA  Difference From Vehicle  FMX103  Minocycline foam, 1.5%  10-week study  EPSOLAY®  Oral administration  16-week study  Side-by-side with other historicaltrial results*   *Sol-Gel did not conduct a head-to-head comparison trial or study. The results described above are for illustrative purposes only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study.  12-week study  12-week study  12-week study  12-week study 

 SKIN TOLERABILITY  Safety population.  Dryness  Scaling  Burning/Stinging  Itching  Percent Reporting Any (%)  Study 54-01  Percent Reporting Any (%)  Study 54-02  Dryness  Scaling  Burning/Stinging  Itching 

   Study 54-01    Study 54-02    TEAEs, n (%)  EPSOLAY®(n=239)  Vehicle(n=113)  EPSOLAY®(n=249)  Vehicle (n=120)  Any TEAE  49 (20.5%)  17 (15.0%)  50 (20.2%)  22 (18.2%)  Serious TEAE  0  1 (0.4%)*  1 (0.4%)†  0  Severe TEAE  2 (0.8%)  0  2 (0.8%)‡  0  Discontinuation  5 (2.1%)  1 (0.9%)  4 (1.6%)  1 (0.8%)§  Treatment-related  14 (5.9%)  3 (2.7%)  9 (3.6%)  0  *Femur fracture.†Spinal compression fracture.‡One subject with spinal compression fracture.§Urinary tract infection—Discontinuation classified as “other reason.”  Safety population.  Treatment-emergent adverse events(TEAEs) summary 

   A multifactorial disease of the pilosebaceous unit, involving abnormalities in sebum production, follicular epithelial desquamation, bacterial proliferation, and inflammation  Topical BPO, retinoids, antibiotics, and their combinations; isotretinoin and antibiotics are mainstays of systemic therapy   Insufficient efficacy negatively affects self-esteem; contributes to antibiotic resistance; systemic side effects  What isacne vulgaris?  How is it treated?  What are the current treatment shortfalls?  Acne vulgaris  Multifactorial disease requiring powerful combination treatments    Our solution: TWYNEO®E-BPO + E-ATRA Cream  Encapsulation allows combining 2 highly effective APIs, BPO and ATRA, that have complementary mechanisms of actionEncapsulation may reduce the irritation of both BPO and ATRAPotential to be more effective than existing topical treatments 

 Number of Patients  Severe  0    0  1  0    Moderate  102    111  1,043  1,118    Mild  0    0  0  0  Average Baseline # of Lesions  Inflamed  25.9    ~29.7  28.8  29.6    Non-inflamed  42.1    ~53.7  46.9  46.7  Non-Inflammatory Lesions—Mean Percent Change From Baseline at Week 12  Success in IGA at Week 12  Inflammatory Lesions—Mean Percent Change From Baseline at Week 12  Difference From Vehicle  Phase II  Phase II  Phase II  TWYNEO®  Active Treatment Arm   *Sol-Gel did not conduct a head-to-head comparison trial or study. The results described above are for illustrative purposes only and should not be construed as conclusions to be drawn as if we conducted a head-to-head comparison trial or study.  Acne trials efficacy results*: moderate patients 

 Number of Patients  Severe  14    61  64  37  118  70  79    Moderate  102    292  305  296  620  413  440    Mild  0    0  0  0  0  0  0  Average Baseline # of Lesions  Inflamed  26.7    42.4  42.9  31.6  30.7  29.7  30.3    Non-inflamed  42.9    59.1  62.8  50.5  49.7  42.4  42.3  Non-Inflammatory Lesions—Mean Percent Change From Baseline at Week 12  Success in IGA at Week 12  Inflammatory Lesions—Mean Percent Change From Baseline at Week 12  Active Treatment Arm  Difference From Vehicle  Winlevi™  FMX101  Minocycline foam, 4%  Clascoterone cream, 1%  Oral sarecycline  Seysara™  Noninflammatory lesions not a co-primary endpoint  Phase II  Phase II  Phase II  Noninflammatory lesions not in label  TWYNEO®   *Sol-Gel did not conduct a head-to-head comparison trial or study. The results described above are for illustrative purposes only and should not be construed as conclusions to be drawn as if we conducted a head-to-head comparison trial or study.  Efficacy results of recent acne trials* 

     Week 12  Week 6  0      2:1 Randomization    Screening  E-BPO + E-ATRA vs Topical Vehicle Placebo-Controlled  Two 12-week, randomized, double-blind, vehicle-controlled studies in patients with acne vulgarisEnrollment of ~420 subjects per study at a ratio of 2:1, yielding 99% powering  PRIMARY ENDPOINTS: Proportion of patients in active treatment vs vehicle cream with an assessment of clear or almost clear with at least a 2-grade improvement in IGA at Week 12Absolute change from baseline in inflammatory and non-inflammatory lesion count at Week 12 TOPLINE RESULTS EXPECTED IN Q4/2019  TWYNEO® phase III trial designs  Male and female patients ≥9 years of ageIGA score of moderate or severeA diagnosis of facial acne ≥30 and ≤150 non-inflammatory lesions ≥20 and ≤100 inflammatory lesions including on the nose 

 ROSACEA   ACNE  Approximately 16 million people in the US suffer from rosacea; 5-6 million have type 2 (age >30 years)~$800 million branded topical market (WAC)1Treated with topical products 76% of the time1Dermatologists account for 80% of treatmentsMany patients are misdiagnosed or do not seek treatment at all, creating a large underserved patient population  Market potential for acne & rosacea      1. Symphony Health. Syneos Research & Insights ”Treatment Answers”; June 2019 MAT.  50 million people suffer from acne in the US(ages 12-24 years)~$1.9 billion branded topical market (WAC)1 Treated with topicals 56% of the time;remaining is oral1Dermatologists account for ~60% of acne treatments(higher for branded products)Combining treatments is the bestway to combat acne for the majority of patients2  2. American Academy of Dermatology. https://www.aad.org/practicecenter/quality/clinical-guidelines/acne/topical-therapies.. 

 EPSOLAY®  Advanced technology platform Trusted API Topical creamNon-systemicAntibiotic-freeComplimentary mechanism  Potential to advance rosacea treatment  Demonstrated strong efficacy  Demonstrated fast onset of action       Observed favorable tolerability profile 

       DENSITY &PRODUCTIVITY METRICS            MARKET FACTORS    APPROACH TO building a commercialorganization—Efficient and effectivE      PRESCRIBER VALUE            ~12,000 Dermatologists  ~6,500 Decile3-10  ~6,000 NP/PAs  FlexibleScalableHighly efficient  SALES FORCE  3,280 target offices~45-62 sales representatives 

 COMPETITIVE PRICING   Addressing access & UM for epsolay®1-3  ~70%  Most would cover at preferred or non-preferred level dependingon cost  PAYER RESPONSE TO CLINICAL PROFILE  LIKELY:Step-through genericsQuantity limits  POSSIBLE:Prior authorizationto label       “If priced like Finacea, it would get parity access; 15%-20% rebate expected with WAC at parity to Finacea.”  State      AIS Health, 2019. http://www.aishealth.com/about.MMIT Network, 2019. http://www.mmitnetwork.com.Data on file. NPG Health primary market research, 2019.  PAYER UM POSITION BASED ON HIGHERNET-TO-PLAN PRICE   COMPELLING TO DRIVE FORMULARY CONSIDERATION    COVERED OR BETTER3:92% Commercial40% Part D74% Medicaid      Based on~107 MILLION LIVES1  Positive payer response to EPSOLAY®—Competitive pricing likelyequals parity access in rosacea 

 In January 2018, Perrigo received tentative approval from the FDA for ivermectin cream,1%, developed in collaboration with Sol-Gel. Perrigo was second to file and, as of today,there is no public disclosure of a third filer to the FDA. In February 2019, Perrigo received approval from the FDA and launched the sale of acyclovir cream,5%, developed in collaboration with Sol-Gel. An authorized generic product entered the market in the third quarter of 2019.   In December 2019, bioequivalence and superiority to vehicle was achieved for generic 5-fluorouracil cream, 5%, for actinic keratosis. An abbreviated New Drug Application expected to be filed in the U.S. in 2020.  A portfolio of generic product candidates with favorable commercial agreementsthat supplement our branded pipelineSeven collaborations with Perrigo and 1 with Douglas Pharmaceuticalswith 50/50 gross profit sharing    FDA Approvals   Recent Developments  Multiple Collaborations      Revenue-generating generics partnerships 

 Financial profile  Gross proceeds of $86.3 million raised in IPO of 7,187,500 ordinary shares on February 5, 2018Gross proceeds of $11.5 million raised in a public follow-on offering on August 12, 201920,387,468 shares outstanding as ofSeptember 30, 2019$57.7 million of cash and investmentsas of September 30, 2019$18.8 million in generic product revenue in the first 9 months of 2019 Cash resources will enable funding of operational and capital expenditure requirements into the first quarter of 2021 

 2021  File NDA for EPSOLAY® in 1H/2020   File NDA for TWYENO® in 2H/2020  2019  2020  Obtained ANDA approval for acyclovir cream (collaboration with Perrigo)  Reported positive phase III results for EPSOLAY® in papulopustular rosacea  Plans to report phase III results for TWYNEO® in acne vulgaris at end of 2019  Bioequivalence achieved for 5-fluorouracil cream, 5%         Recent milestones & next steps  US pre-launch commercial preparations     File ANDA for 5-fluorouracil cream, 5% in 2H/2020 (collaboration with Douglas)     Approval and launch of EPSOLAY®    US commercial organization fully operational    TWYNEO® granted market protection out to 2038  Approval and launch of TWYNEO® following EPSOLAY®     Recognized non-dilutive revenues early from launch of acyclovir cream (by Perrigo)    Start PoC for palmoplantar keratoderma Q4/2019  

 NASDAQ: SLGLwww.sol-gel.com  ©2019 Sol-Gel Technologies Ltd. All Rights Reserved. EPSOLAY® is a registered trademark of Sol-Gel Technologies Ltd. All other trademarks are the property of their respective owners.