SpyGlass Pharma, Inc.
Business
SpyGlass Pharma is a late-stage biopharmaceutical company developing long-acting, sustained drug delivery systems for chronic eye conditions. The company's lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), combines an FDA-approved glaucoma drug with an intraocular lens designed to be implanted during routine cataract surgery to reduce intraocular pressure for three years. The company also develops a non-IOL-based ring-shaped implant (BIM-DRS) for patients requiring additional or retreatment therapy. SpyGlass markets its products to cataract surgeons and ambulatory surgery centers in the United States, with plans for international expansion.
Summary from 10-K filed 2026-03-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Research and development | 29 | 20 | |
| General and administrative | 12 | 7 | |
| Total operating expenses | 41 | 27 | |
| Loss from operations | −41 | −27 | |
| Interest income | 3 | 1 | |
| Change in fair value of redeemable convertible preferred stock tranche liability | −2 | −3 | |
| Total other income (expense) | 2 | −2 | |
| Loss before income tax | −40 | −29 | |
| Income tax provision | 0 | 0 | |
| Net loss | −40 | −29 | |
| Comprehensive loss | −40 | −29 | |
| Weighted average common stock outstanding - basic (in shares) | 2 | 2 | |
| Weighted average common stock outstanding - diluted (in shares) | 2 | 2 | |
| Net loss per share of common stock - basic (in dollars per share) | −17.98 | −16.31 | |
| Net loss per share of common stock - diluted (in dollars per share) | −17.98 | −16.31 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 96 | 16 | — | |
| Short-term investments | 11 | 0 | — | |
| Other receivables | 431,000 | 423,000 | — | |
| Prepaid expenses and other current assets | 901,000 | 715,000 | — | |
| Total current assets | 109 | 17 | — | |
| Other non-current assets | 492,000 | 453,000 | — | |
| Property and equipment, net | 2 | 2 | — | |
| Deferred offering costs | 3 | 0 | — | |
| Right-of-use asset | 2 | 3 | — | |
| Total assets | 116 | 23 | — | |
| Accounts payable | 3 | 2 | — | |
| Payroll-related accruals | 2 | 1 | — | |
| Other current liabilities | 4 | 672,000 | — | |
| Lease liability, current | 0 | 442,000 | — | |
| Redeemable convertible preferred stock tranche liability | 0 | 3 | — | |
| Total current liabilities | 9 | 8 | — | |
| Lease liability, non-current | 2 | 3 | — | |
| Total liabilities | 10 | 11 | — | |
| Commitments and contingencies (Note 7) | — | — | — | |
| Redeemable convertible preferred stock, $.00001 par value; 116,618,581 shares authorized, 20,341,968 and 9,608,914 shares issued and outstanding as of December 31, 2025 and 2024, respectively (aggregate liquidation preference of $200,878 and $73,542 as of December 31, 2025 and 2024, respectively) | 205 | 73 | 73 | |
| Common stock, $.00001 par value; 154,383,336 shares authorized; 2,203,620 and 2,196,423 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 0 | 0 | — | |
| Common stock additional paid-in capital | 6 | 4 | — | |
| Accumulated deficit | −105 | −65 | — | |
| Total stockholders' deficit | −99 | −60 | −33 | |
| Total liabilities, redeemable convertible preferred stock and stockholders' deficit | 116 | 23 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Depreciation expense | 600,000 | 300,000 | |
| Loss on disposal of property and equipment | 5,000 | 0 | |
| Non-cash lease expense | 383,000 | 405,000 | |
| Gain on lease termination | −518,000 | 0 | |
| Stock-based compensation | 3 | 1 | |
| Interest receivable | −74,000 | 216,000 | |
| Other receivables | −8,000 | −300,000 | |
| Prepaid expenses and other current assets | −186,000 | −540,000 | |
| Other non-current assets | −38,000 | −367,000 | |
| Accounts payable | 549,000 | 1 | |
| Payroll-related accruals | 900,000 | 673,000 | |
| Accrued expenses and other current liabilities | 2 | 332,000 | |
| Lease liability | −441,000 | 201,000 | |
| Net cash used in operating activities | −33 | −22 | |
| Property and equipment | −789,000 | −2 | |
| Purchases of short-term investments | −17 | −21 | |
| Redemptions of short-term investments | 6 | 45 | |
| Net cash (used in) provided by investing activities | −12 | 22 | |
| Proceeds from exercise of stock options | 170,000 | 185,000 | |
| Repurchases of common stock | −1 | 0 | |
| Gross proceeds from issuance of redeemable convertible preferred stock | 127 | 0 | |
| Issuance costs of redeemable convertible preferred stock | −288,000 | 0 | |
| Payments for deferred offering cost | −1 | 0 | |
| Net cash provided by financing activities | 125 | 185,000 | |
| Net increase in cash and cash equivalents | 80 | 419,000 | |
| Cash paid for taxes | 1,000 | 18,000 | |
| Settlement of redeemable convertible preferred stock tranche liability | 5 | 0 | |
| Purchases of property and equipment included in accounts payable and accrued expense | 248,000 | 0 | |
| Deferred offering costs included in accounts payable and accrued expense | 2 | 0 | |
| Reduction of right-of-use asset | 3 | 0 | |
| Reduction of lease liability due to early termination | 3 | 0 | |
| Right-of-use asset in exchange for lease liability | 2 | 4 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is SpyGlass Pharma, Inc.'s CIK number?
SpyGlass Pharma, Inc.'s SEC CIK number is 0001778922 (1778922). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SpyGlass Pharma, Inc.'s SEC filings?
All of SpyGlass Pharma, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SpyGlass Pharma, Inc. last report earnings?
SpyGlass Pharma, Inc. (SGP) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001778922-26-000033). This is SpyGlass Pharma, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SpyGlass Pharma, Inc.'s most recent earnings 8-K?
SpyGlass Pharma, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001778922-26-000033. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SpyGlass Pharma, Inc.'s latest earnings 8-K →
Look up any company's CIK number →