BUZZ-SpyGlass surges in Nasdaq debut after $150 million IPO

+0.49%

SpyGlass Pharma, Inc.

SGP

26.55

+0.49%

Updates

** Biopharmaceutical company SpyGlass Pharma's SGP.O shares surge as much as 50% in Nasdaq debut

** Stock opened at $24 apiece vs $16 IPO price

** SGP sold ~9.4 million shares within marketed range of $15 and $17 to raise $150 million

** Founded in 2019 by Malik Kahook and Glenn Sussman, SGP is building a portfolio of drug delivery systems to provide long-acting therapy for chronic eye diseases

** SGP's lead program, the BIM-IOL system, integrates glaucoma treatment into standard cataract surgery

** Jefferies, Leerink Partners, Citigroup and Stifel were joint book-running managers for offering

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