By Colin Kellaher

Sol-Gel Technologies Ltd. on Tuesday said the U.S. Food and Drug Administration approved Twyneo, the company's first proprietary drug product, for the treatment of acne vulgaris in patients ages nine and older.

The Ness Ziona, Israel, dermatology company, which earlier this year signed a licensing agreement with privately held Galderma to commercialize Twyneo in the U.S., said it expects to receive a regulatory milestone payment in conjunction with the approval.

Sol-Gel noted it retains the option to regain U.S. commercialization rights five years after the first U.S. sales, adding that Twyneo is patent-protected until 2038.

Trading in shares of Sol-Gel, which closed Monday at $12.11, was halted premarket on Tuesday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 27, 2021 09:44 ET (13:44 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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