SpyGlass Pharma Q2 net loss widens on higher expenses
SGP•Analyst coverage
The current average analyst rating on the shares is strong buy, with 5 analysts rating it strong buy or buy, and no hold, sell or strong sell ratings.
The average consensus recommendation for the medical equipment, supplies and distribution peer group is buy.
Wall Street's median 12-month price target for SpyGlass Pharma, Inc. is $42.00, about 77.4% above its August 5 closing price of $23.68.
Drivers of the wider loss
Higher research and development spending, mainly from hiring clinical personnel, contributed to increased losses.
General and administrative expenses rose due to higher professional service fees and personnel costs.
Cash runway and clinical outlook
The company expects its cash and short-term investments to fund operations through 2028.
SpyGlass said enrollment in its Phase 3 BIM-IOL System trials remains on track, with completion expected in 2027. It also expects to start a BIM-DRS first-in-human trial in the second half of .
