---
schema_version: "secwatch.filing_event.v1"
accession: "0001778922-26-000018"
form_type: "8-K"
ticker: "SGP"
cik: "0001778922"
company_name: "SpyGlass Pharma, Inc."
filed_at: "2026-03-26T23:59:59+00:00"
generated_at: "2026-05-15T08:52:04.212686+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001778922-26-000018
- form_type: 8-K
- ticker: SGP
- cik: 0001778922
- company_name: SpyGlass Pharma, Inc.
- filed_at: 2026-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778922/000177892226000018/0001778922-26-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778922/000177892226000018/sgp-20260326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001778922-26-000018
- JSON: https://secwatch.observer/filing/0001778922-26-000018.json
- Plain text: https://secwatch.observer/filing/0001778922-26-000018.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778922/000177892226000018/0001778922-26-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.