Spyglass Pharma disclosure:Samsara entities and Srinivas Akkaraju report beneficial ownership of 2,109,953 shares of common stock, representing 6.3% of the class based on 33,317,414 shares outstanding as of February 9, 2026.
The position is split into 1,484,953 shares held directly by Samsara BioCapital, L.P. (4.5%) and 625,000 shares held directly by Samsara Opportunity Fund, L.P. (1.9%). Filers state governance relationships: Samsara GP and Samsara Opportunity GP are general partners and Dr. Akkaraju is managing member with power to direct voting and disposition of those shares. The Reporting Persons expressly disclaim status as a "group."
Positive
None.
Negative
None.
Insights
Ownership disclosed: Samsara entities and Dr. Akkaraju control 6.3% of Spyglass Pharma as of Feb 9, 2026.
The filing lists an aggregate beneficial holding of 2,109,953 shares and provides a clear breakdown: 1,484,953 shares via Samsara BioCapital, L.P. and 625,000 shares via Samsara Opportunity Fund, L.P. The cover rows show voting and dispositive power allocations between the partnerships and their GP entities.
Filing mechanics matter: it states that Samsara GP and Samsara Opportunity GP are general partners and that Srinivas Akkaraju is managing member, each possessing power to direct voting and disposition. The Reporting Persons "expressly disclaim status as a 'group'." Subsequent disclosures or transactions would be reported in additional Schedule 13 filings as required.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SPYGLASS PHARMA, INC.
(Name of Issuer)
Common Stock, $0.00001 par value per share
(Title of Class of Securities)
85220G109
(CUSIP Number)
02/09/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
85220G109
1
Names of Reporting Persons
Samsara BioCapital, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,484,953.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,484,953.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,484,953.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.5 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
85220G109
1
Names of Reporting Persons
Samsara BioCapital GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,484,953.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,484,953.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,484,953.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.5 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
85220G109
1
Names of Reporting Persons
Samsara Opportunity Fund, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
625,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
625,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
625,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.9 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
85220G109
1
Names of Reporting Persons
Samsara Opportunity Fund GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
625,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
625,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
625,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
85220G109
1
Names of Reporting Persons
Srinivas Akkaraju
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,109,953.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,109,953.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,109,953.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
SPYGLASS PHARMA, INC.
(b)
Address of issuer's principal executive offices:
27061 Aliso Creek Rd., Suite 100, Aliso Viejo, CA, 92656.
Item 2.
(a)
Name of person filing:
The names of the persons filing this report (collectively, the "Reporting Persons") are:
Samsara BioCapital, L.P. ("Samsara LP")
Samsara BioCapital GP, LLC ("Samsara GP")
Samsara Opportunity Fund, L.P. ("Samsara Opportunity Fund")
Samsara Opportunity Fund GP, LLC ("Samsara Opportunity GP")
Srinivas Akkaraju ("Dr. Akkaraju")
The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.
(b)
Address or principal business office or, if none, residence:
Samsara LP Delaware
Samsara GP Delaware
Samsara Opportunity Fund Delaware
Samsara Opportunity GP Delaware
Dr. Akkaraju United States
(d)
Title of class of securities:
Common Stock, $0.00001 par value per share
(e)
CUSIP No.:
85220G109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of common stock of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
The Reporting Persons' ownership of the Issuer's securities consists of (i) 1,484,953 shares of common stock directly held by Samsara LP and (ii) 625,000 shares of common stock directly held by Samsara Opportunity Fund.
Samsara GP is the sole general partner of Samsara LP and Dr. Akkaraju is the managing member of Samsara GP. Each of Samsara GP and Dr. Akkaraju possesses power to direct the voting and disposition of the securities held by Samsara LP.
Samsara Opportunity GP is the sole general partner of Samsara Opportunity Fund and Dr. Akkaraju is the managing member of Samsara Opportunity GP. Each of Samsara Opportunity GP and Dr. Akkaraju possesses power to direct the voting and disposition of the securities held by Samsara Opportunity Fund.
(b)
Percent of class:
Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of shares of common stock of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The percentage set forth in each row 11 is based upon 33,317,414 shares outstanding as of February 9, 2026, as reported in the Issuer's final prospectus dated February 5, 2026 filed with the Securities and Exchange Commission (the "SEC") on February 6, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(ii) Shared power to vote or to direct the vote:
Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(iii) Sole power to dispose or to direct the disposition of:
Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(iv) Shared power to dispose or to direct the disposition of:
Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Samsara BioCapital, L.P.
Signature:
/s/ Srinivas Akkaraju
Name/Title:
By Samsara BioCapital GP, LLC, its General Partner, By Srinivas Akkaraju, Managing Member
Date:
02/17/2026
Samsara BioCapital GP, LLC
Signature:
/s/ Srinivas Akkaraju
Name/Title:
By Srinivas Akkaraju, Managing Member
Date:
02/17/2026
Samsara Opportunity Fund, L.P.
Signature:
/s/ Srinivas Akkaraju
Name/Title:
By Samsara Opportunity Fund GP, LLC, its General Partner, By Srinivas Akkaraju, Managing Member
What stake does Samsara report in Spyglass Pharma (SGP)?
The filing shows an aggregate beneficial ownership of 2,109,953 shares, equal to 6.3% of the class based on 33,317,414 shares outstanding as of February 9, 2026. Ownership is split between two Samsara funds.
How are the 2,109,953 shares held and allocated?
The disclosure breaks the total into 1,484,953 shares held directly by Samsara BioCapital, L.P. (4.5%) and 625,000 shares held directly by Samsara Opportunity Fund, L.P. (1.9%), per the cover-page rows.
Who has voting and dispositive power over these shares?
Samsara BioCapital GP, LLC and Samsara Opportunity Fund GP, LLC are the general partners; Srinivas Akkaraju is the managing member and is reported to possess power to direct voting and disposition of the shares held by the funds.
Does the filing treat the Reporting Persons as a group?
No. The Reporting Persons expressly disclaim status as a "group" in the filing, which indicates they do not intend to be treated as a coordinated group for Schedule 13G purposes under the disclosed terms.
What outstanding share count does the filing use to calculate percentages?
Percentages are calculated using an outstanding share figure of 33,317,414 shares as of February 9, 2026, stated in the filing and referenced to the issuer's final prospectus dated February 5, 2026.
