SpyGlass Pharma shares surge 62.91% intraday after $150M IPO debut.

SpyGlass Pharma surged 62.91% intraday following its Nasdaq debut, driven by a $150 million initial public offering priced at $16 per share. The biopharmaceutical firm’s shares opened at $24, a 50% jump from the IPO price, and reached intraday highs amid strong investor demand. The offering, led by Jefferies and other underwriters, includes 9.375 million shares and a 30-day option for an additional 1.406 million shares. SpyGlass, focused on long-acting treatments for chronic eye conditions like glaucoma, highlighted its late-stage pipeline and innovative intraocular drug delivery systems as catalysts for growth. The stock’s volatility reflects market enthusiasm for its potential to transform ophthalmic care through sustained drug delivery technologies.