Spyglass Pharma, Inc.’s (NASDAQ:SGP) Lock-Up Period Will End Tomorrow

Spyglass Pharma’s (NASDAQ:SGP) lock-up period is set to expire on Wednesday, August 5th. Spyglass Pharma had issued 9,375,000 shares in its public offering on February 6th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Spyglass Pharma Price Performance

Shares of NASDAQ:SGP opened at $22.68 on Tuesday. Spyglass Pharma has a 12-month low of $17.06 and a 12-month high of $32.44. The firm has a market capitalization of $758.26 million and a P/E ratio of -3.54. The firm has a 50 day moving average of $19.89.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.02).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC acquired a new position in shares of Spyglass Pharma in the first quarter worth about $6,478,000. First Light Asset Management LLC acquired a new position in Spyglass Pharma in the 1st quarter worth about $9,716,000. Monashee Investment Management LLC purchased a new position in Spyglass Pharma during the first quarter worth approximately $2,461,000. Bank of America Corp DE acquired a new stake in Spyglass Pharma in the first quarter valued at approximately $726,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma in the first quarter valued at approximately $308,000.

About Spyglass Pharma

We are a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines. Our mission is to significantly improve the lives of patients with chronic eye conditions by developing durable drug delivery solutions that can empower patients and surgeons with confidence in long-term disease control and vision preservation. Our lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), comprising novel, proprietary drug pads attached to our intraocular lens (IOL), is designed to be implanted during routine cataract surgery to reduce elevated intraocular pressure (IOP) in patients who have either open-angle glaucoma (OAG) or ocular hypertension (OHT).