SpyGlass Pharma's IPO
Listed Feb 6, 2026 at $16 on Nasdaq as SGP.
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What does SpyGlass Pharma do?
“We are a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines.”
| Fact | SpyGlass Pharma |
|---|---|
| Founded | 2019 |
| Incorporated | Delaware, 2019 |
| Headquarters | Aliso Viejo, California |
| Employees | 65 full-time, as of December 31, 2025 |
| Website | spyglasspharma.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | SpyGlass Pharma |
|---|---|
| Shares offered | 9,375,000 |
| Offer price | $16 a share |
| Raised at that price | $150 million |
| Underwriters' discount | $10.5 million |
| Net proceeds the company expects | About $135 million |
| Underwriters' option | 1,406,250 more shares |
| Underwriters | Jefferies, Leerink Partners, Citigroup, and Stifel |
| Exchange | Nasdaq Global Select Market, as SGP |
| Shares outstanding after | 31,911,164 |
| Market cap at the offer price | $511 million |
What the filing says about its money
| Fact | SpyGlass Pharma |
|---|---|
| Revenue | None from product sales yet |
| Last preferred stock | Series C preferred |
What risks does SpyGlass Pharma name first?
- “We are a late-stage biopharmaceutical company with a limited operating history in developing drug delivery systems and have no products approved for commercial sale, which may make it difficult for you to evaluate our current business and predict our future success and viability.”
- “We have incurred significant losses and negative cash flows from operations since our formation, and we anticipate that we will continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability.”
- “We are substantially dependent on the success of our lead product candidate, our BIM-IOL System, which is currently in clinical trials.”
Every date of SpyGlass Pharma's IPO
| What | Day |
|---|---|
| Registration filed | Jan 16, 2026 |
| Declared effective by the SEC | Jan 30, 2026 |
| Exchange registration filed | Feb 5, 2026 |
| Priced | Feb 5, 2026 |
| First trade | Feb 6, 2026 |
| Lock-up ends | Aug 4, 2026 |
How did its first days trade?
From its daily bars, each close against its $16 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Feb 6 | $24 | $26.40 | +65.0% |
| Feb 9 | $25.25 | $26.18 | +63.6% |
| Feb 10 | $26.35 | $27.83 | +73.9% |
| Feb 11 | $28.02 | $27.55 | +72.2% |
| Feb 12 | $27.96 | $27.50 | +71.9% |
The other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
SpyGlass Pharma IPO questions
When is SpyGlass Pharma's IPO?
Listed Feb 6, 2026 at $16 on Nasdaq as SGP.
What is SpyGlass Pharma's IPO price?
SpyGlass Pharma's IPO priced at $16 a share, per its final prospectus of Feb 6, 2026.
How many shares is SpyGlass Pharma selling?
9,375,000 shares, and the underwriters may buy 1,406,250 more, per its final prospectus (424B4).
Who are the underwriters?
Jefferies, Leerink Partners, Citigroup, and Stifel, as the prospectus's cover names them.
When does the lock-up end?
SpyGlass Pharma's IPO lock-up ends Aug 4, 2026. Its final prospectus says: “.”
Does Breakaway rate SpyGlass Pharma?
Breakaway scores a new stock from its second trading day, ranked against every US stock it scores. For its first 21 sessions the page says New listing in place of the tier, and each check that needs more history waits for it.
Can Breakaway say where SpyGlass Pharma's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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Every IPO expected and listed, and February 2026's listings.