California-based SpyGlass Pharma, Inc. (Nasdaq: SGP), a specialist in ocular drug delivery, announced the pricing of its initial public offering (IPO). The company is offering 9,375,000 shares of common stock at a public price of USD 16.00 per share, aiming for aggregate gross proceeds of approximately USD 150 million.
Trading is expected to commence on February 6, 2026, on the Nasdaq Global Select Market under the ticker symbol “SGP”. The offering is scheduled to close on February 9, 2026. In addition to the base offering, SpyGlass has granted underwriters a 30-day option to purchase up to an additional 1,4 million shares at the IPO price. The offering is being led by joint book-running managers Jefferies, Leerink Partners, Citigroup, and Stifel.
Established in 2019 around technology developed at the University of Colorado Anschutz School of Medicine, SpyGlass is based around a novel, non-bioerodible drug delivery system that can be implanted during routine cataract surgery. The platform combines a prosthetic lens with a sustained-release version of established medicines (like bimatoprost), with the aim to provide years of therapy without patient intervention.
In January 2026, SpyGlass announced the randomization of the first patients in its Phase III registrational clinical trials, SGP-005 and SGP-006, evaluating the firm’s flagship BIM-IOL system – a drug-eluting intraocular lens designed to provide long-term relief for patients with glaucoma and ocular hypertension.