SpyGlass Pharma shares surge 76.31% after-hours following $150M IPO success.

SpyGlass Pharma (SGP) surged 76.31% in after-hours trading following its Nasdaq debut, driven by a successful $150 million initial public offering (IPO) priced at $16 per share. The biopharmaceutical firm, focused on long-acting ocular drug-delivery solutions for chronic eye conditions like glaucoma, saw shares open at $24—a 50% jump from the IPO price—on February 6, 2026. The IPO, managed by Jefferies, Leerink Partners, and others, provided gross proceeds to advance its lead product, the BIM-IOL System, through Phase 3 trials and support commercialization. Underwriters retain a 30-day option to purchase additional shares. The after-hours rally reflects strong investor confidence in SpyGlass’s innovative pipeline and its potential to address gaps in glaucoma treatment by integrating sustained drug delivery into cataract surgeries. The company’s market valuation now exceeds $766 million based on post-IPO share counts.