SpyGlass Pharma prices IPO at $16 per share, raising $150 million

SpyGlass Pharma Inc. (NASDAQ: SGP) announced the pricing of its initial public offering of 9,375,000 shares at $16.00 per share, according to a company statement. The biopharmaceutical company expects to raise approximately $150 million in gross proceeds before deducting underwriting fees and other expenses.

The company granted underwriters a 30-day option to purchase up to 1,406,250 additional shares at the offering price, less underwriting discounts. SpyGlass Pharma's common stock is expected to begin trading on the Nasdaq Global Select Market on February 6, 2026, under the ticker symbol "SGP." The offering is expected to close on February 9, 2026.

Jefferies, Leerink Partners, Citigroup and Stifel are serving as joint book-running managers for the offering. The Securities and Exchange Commission declared the company's registration statement effective on January 30, 2026.

SpyGlass Pharma describes itself as a late-stage biopharmaceutical company focused on developing sustained drug delivery solutions for chronic eye conditions. The company was founded in 2019 by Malik Y. Kahook and Glenn Sussman, with its platform technology originally developed at the University of Colorado Anschutz School of Medicine.

The company's drug delivery platform is designed to work with approved medicines including bimatoprost and other small molecules for treating conditions affecting the front and back of the eye.

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