SpyGlass Pharma, Inc. (Ticker: SGP US) is a United States-based late-stage biopharmaceutical company specializing in sustained drug delivery solutions for chronic eye conditions. Headquartered in Aliso Viejo, California, the firm focuses on transforming the treatment paradigm for open-angle glaucoma and ocular hypertension. Its lead product candidate, the BIM-IOL System, consists of proprietary drug pads attached to an intraocular lens, designed for implantation during routine cataract surgery to deliver bimatoprost over three years. The company plans to list on the Nasdaq Global Select Market on February 6, 2026.

SpyGlass Pharma intends to offer 9.375 million shares at a price range of USD 15.00 to USD 17.00, seeking to raise USD 150 million. At the midpoint of this range, the company commands a fully diluted market capitalization of approximately USD 549 million. According to regulatory filings, the IPO proceeds will primarily fund the advancement of its platform through two registrational Phase 3 clinical trials initiated in July 2025. The offering is managed by Jefferies, Leerink Partners, Citigroup, and Stifel. The company is led by CEO Patrick Mooney and backed by investors including New Enterprise Associates and RA Capital.