SpyGlass Pharma (SGP) priced its IPO at $16.00 – the mid-point of its range – and sold about 9.38 million shares – the number in the prospectus – to raise $150 million on Thursday night, Feb. 5, 2026. The medical device company is backed by RA Capital. SpyGlass Pharma’s stock jumped to $24.00 – up $8.00 from its IPO price for a 50 percent gain – when it started trading at 12:12 p.m. EST on Friday, Feb. 6, 2026, on the NASDAQ. Volume totaled 192,400 shares. (Editor’s Note: Corrects symbol to “SGP” – NOT SPG. IPOScoop regrets the typo.)
Jefferies, Leerink Partners, Citigroup and Stifel were the joint book-runners.
SpyGlass Pharma (SGP) is raising money to fund late-stage clinical trials of its novel proprietary drug-delivery method to treat chronic eye conditions – specifically, open-angle glaucoma (OAG) or ocular hypertension (OHT) – that can cause blindness. RA Capital Management and New Enterprise Associates – leading biotech investors – are among SpyGlass Pharma’s principal shareholders.
Its lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), consists of novel proprietary drug pads attached to its intraocular lens (IOL) designed to be implanted during routine cataract surgery to reduce elevated intraocular pressure (IOP) in patients who have either open-angle glaucoma (OAG) or ocular hypertension (OHT).
“The BIM-IOL System is designed to consistently deliver three years of bimatoprost, a prostaglandin analog (PGA) approved for topical use by the U.S. Food & Drug Administration (FDA) in 2001 for the reduction of elevated IOP in patients with OAG or OHT,” SpyGlass Pharma said in the prospectus.
SpyGlass Pharma (SGP) is not profitable, according to financial statements in the prospectus: It reported a net loss of $35.01 million on no product revenue for the 12 months that ended Sept. 30, 2025.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions