SpyGlass Pharma Raises $172.5M in $16 IPO, Sells 10.8M Shares
SpyGlass Pharma closed its IPO of 10,781,250 common shares, including 1,406,250 additional shares from the full underwriters’ option, at $16 per share. The offering generated $172.5 million in gross proceeds, and the stock began trading on the Nasdaq Global Select Market on February 6, 2026.
1. Initial Public Offering Closes Successfully
SpyGlass Pharma completed the sale of 10,781,250 common shares, including the full underwriters’ option of 1,406,250 additional shares, at $16 per share. Gross proceeds totaled $172.5 million before deducting underwriting discounts, commissions and offering expenses.
2. Nasdaq Global Select Market Listing
Shares began trading on the Nasdaq Global Select Market under the symbol SGP on February 6, 2026, marking the company’s market debut. The listing provides enhanced liquidity and access to public capital markets.
3. Underwriters and Regulatory Filing
Jefferies, Leerink Partners, Citigroup and Stifel served as joint book-running managers for the offering. A registration statement became effective on January 30, 2026, satisfying regulatory requirements for the public sale.
4. Company Focus and Drug Delivery Platform
SpyGlass Pharma is a late-stage biopharmaceutical company developing a non-bioerodible drug delivery platform for chronic eye conditions. The technology is designed to enable sustained release of approved medicines, aiming to improve long-term disease control and patient convenience.