SpyGlass Pharma shares surge 77.34% intraday after successful $150M IPO debut.

SpyGlass Pharma (SGP) surged 77.34% intraday following its Nasdaq debut, driven by a successful $150 million initial public offering priced at $16 per share. The stock opened at $24 on February 6, a 50% increase from its IPO price, reflecting strong investor demand for the biopharmaceutical firm’s long-acting ophthalmology treatments. The offering included 9.375 million shares, with underwriters granted a 30-day option to purchase an additional 1.406 million shares. The company’s focus on sustained drug delivery for chronic eye conditions and robust capital raise likely fueled the intraday rally, as investors anticipated growth potential in its pipeline.