SpyGlass Pharma reports FY2025 net loss $39.9M; positive Phase 1/2 data and $172.5M IPO

SpyGlass Pharma, Inc.

Net loss of $12.6M in Q4 2025 ($5.72/sh) and $39.9M for FY2025 ($17.98/sh).
Cash $107.4M at Dec 2025; plus $172.5M IPO gross proceeds; runway through 2028.
Positive 12-month Phase 1/2 data: 97% of patients off IOP-lowering drops; mean IOP reduction 34-42%.
Phase 3 trials (SGP-005/SGP-006) enrolling; full enrollment expected 2027; BIM-DRS FIH trial in H2 2026.
Appointed Jean-Frédéric Viret as CFO and Habib Dable to board.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SpyGlass Pharma, Inc. reported financial results for fourth quarter and fiscal year ended December 31, 2025.

Period: fourth quarter and fiscal year ended December 31, 2025
Result: reported results

Exact text from the filing

On March 26, 2026, SpyGlass Pharma, Inc. issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2025.

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SpyGlass Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001778922-26-000018

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