SpyGlass Pharma Announces Closing of Initial Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

SpyGlass Pharma (Nasdaq: SGP) closed its initial public offering of 10,781,250 shares, including full exercise of the underwriters’ option for 1,406,250 additional shares, at a public offering price of $16.00 per share on Feb. 9, 2026.

The aggregate gross proceeds were $172.5 million before underwriting discounts, commissions and offering expenses. SpyGlass Pharma began trading on the Nasdaq Global Select Market under the symbol SGP on Feb. 6, 2026. Joint book-runners were Jefferies, Leerink Partners, Citigroup and Stifel.

Positive

• Gross proceeds of $172.5 million
• Underwriters’ option exercised in full, signaling strong demand
• Listing on Nasdaq Global Select under ticker SGP

Negative

• Net proceeds will be lower due to underwriting discounts and offering expenses
• Issuance of 10,781,250 new shares will dilute existing shareholders

Key Figures

IPO shares sold: 10,781,250 shares Underwriters’ option: 1,406,250 shares IPO price: $16.00 per share +5 more

8 metrics

IPO shares sold 10,781,250 shares Initial public offering common stock

Underwriters’ option 1,406,250 shares Additional shares from option exercised in full

IPO price $16.00 per share Public offering price for common stock

Gross proceeds $172.5 million Aggregate gross proceeds before fees and expenses

Listing date February 6, 2026 Common stock began trading on Nasdaq Global Select Market

Effective date January 30, 2026 Registration statement became effective with the SEC

Free float 9,375,000 shares Shares float from risk_context

Price vs 52-week high -18.62% Current price relative to 52-week high of 32.44

Market Reality Check

Price: $26.18 Vol: Volume 1,182,593 is near ...

normal vol

$26.18 Last Close

Volume Volume 1,182,593 is near the 20-day average of 1,193,299 (relative volume 0.99). normal

Technical Price 26.4 is indicated near the 200-day MA of 26.4.

Market Pulse Summary

This announcement confirms closing of SpyGlass Pharma’s IPO, with 10,781,250 shares sold at $16.00 f...

Analysis

This announcement confirms closing of SpyGlass Pharma’s IPO, with 10,781,250 shares sold at $16.00 for $172.5 million in gross proceeds. The stock trades on the Nasdaq Global Select Market under ticker SGP, with a reported float of 9,375,000 shares. Investors may track how shares trade relative to the 52-week range and the 200-day MA, alongside upcoming clinical and corporate milestones.

Key Terms

initial public offering, underwriters’ option, nasdaq global select market, registration statement, +1 more

5 terms

initial public offering financial

"announced the closing of its initial public offering of 10,781,250 shares"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

underwriters’ option financial

"includes the exercise in full of the underwriters’ option to purchase 1,406,250"

An underwriters’ option is a provision in a securities offering that lets the group selling the new shares buy a fixed extra amount (often up to 15%) from the issuer after the sale. It acts like a short-term safety valve: if demand is strong, underwriters exercise the option and supply extra shares; if the price falls, they can use the option to stabilize the market. For investors this matters because it affects how many shares come to market, potential short-term dilution, and post-offering price stability—similar to having a reserve supply to smooth out sudden swings.

nasdaq global select market financial

"began trading on the Nasdaq Global Select Market under the ticker symbol"

A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.

registration statement regulatory

"A registration statement relating to the offering has been filed"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

prospectus regulatory

"The offering was made only by means of a prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

AI-generated analysis. Not financial advice.

ALISO VIEJO, Calif., Feb. 09, 2026 (GLOBE NEWSWIRE) -- SpyGlass Pharma, Inc. (Nasdaq: SGP) (“SpyGlass Pharma”), a late-stage biopharmaceutical company, today announced the closing of its initial public offering of 10,781,250 shares of its common stock, which includes the exercise in full of the underwriters’ option to purchase 1,406,250 additional shares of its common stock, at a public offering price of $16.00 per share. The aggregate gross proceeds from the offering were $172.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by SpyGlass Pharma. All shares of common stock were offered by SpyGlass Pharma. SpyGlass Pharma’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “SGP” on February 6, 2026.

Jefferies, Leerink Partners, Citigroup and Stifel acted as joint book-running managers for the offering.

A registration statement relating to the offering has been filed with the Securities and Exchange Commission and became effective on January 30, 2026. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering are available at www.sec.gov. Copies of the final prospectus may also be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105 or by email at syndicate@leerink.com; Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About SpyGlass Pharma

SpyGlass Pharma is 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. The company’s mission is to significantly improve the lives of patients with chronic eye conditions by developing durable drug delivery solutions that can empower patients and surgeons with confidence in long-term disease control and vision preservation.

The SpyGlass Pharma platform, a novel, non-bioerodible drug delivery technology, is designed to be used with various well-established, approved medicines, including bimatoprost and other small molecules, providing flexibility to potentially treat a range of conditions in the front and back of the eye.

The company was founded in 2019 by Malik Y. Kahook, M.D. and Glenn Sussman to solve the lack of ophthalmic innovations that capitalize on durable treatment options. The SpyGlass Pharma platform was originally developed in the Sue Anschutz-Rodgers Eye Center at the University of Colorado Anschutz School of Medicine.

Media Contact:
Nami Surendranath
+1 (212) 418-8981
nsurendranath@dnacommunications.com

Investor Contact:
Ami Bavishi or Nick Colangelo
Gilmartin Group LLC
investors@spyglasspharma.com

FAQ

How many shares did SpyGlass Pharma (SGP) sell in its IPO and at what price?

SpyGlass Pharma sold 10,781,250 shares at $16.00 per share. According to the company, this total includes the underwriters’ full exercise of 1,406,250 additional shares, forming the complete offering.

What were the total gross proceeds from SpyGlass Pharma's (SGP) IPO and are those amounts net?

The IPO generated $172.5 million in aggregate gross proceeds. According to the company, that figure is before underwriting discounts, commissions and other offering expenses, so net proceeds will be lower.

When did SpyGlass Pharma (SGP) begin trading on Nasdaq and which market tier?

SpyGlass Pharma began trading on the Nasdaq Global Select Market on Feb. 6, 2026. According to the company, the stock trades under the ticker symbol SGP.

Who were the lead underwriters for SpyGlass Pharma's (SGP) IPO?

The joint book-running managers were Jefferies, Leerink Partners, Citigroup and Stifel. According to the company, these firms led the syndicate for the offering and related prospectus distribution.

Will SpyGlass Pharma's (SGP) IPO dilute existing shareholders and why?

Yes, the offering issued 10,781,250 new shares, which will dilute existing shareholders. According to the company, all offered shares were issued by SpyGlass Pharma in the IPO.