--- title: "SpyGlass Pharma | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286465909.md" datetime: "2026-05-14T20:44:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286465909.md) - [en](https://longbridge.com/en/news/286465909.md) - [zh-HK](https://longbridge.com/zh-HK/news/286465909.md) --- # SpyGlass Pharma | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.69. EBIT: As of FY2026 Q1, the actual value is USD -17 M. SpyGlass Pharma, Inc. operates as a single reportable and operating segment and has not generated revenues since its inception. #### Operational Metrics - **Net Loss and Comprehensive Loss**: SpyGlass Pharma, Inc. reported a net loss of - $13.8 million for the three months ended March 31, 2026, compared to - $8.8 million for the same period in 2025, representing a 57% increase. - **Research and Development Expenses**: These expenses increased by 41% to $8.5 million for the three months ended March 31, 2026, from $6.1 million for the three months ended March 31, 2025. The increase was primarily due to a $0.9 million increase in IOL and drug supply for the BIM-IOL system and an additional $2.4 million increase due to headcount and related expenses, partially offset by a $0.9 million decrease in contract research expenses related to clinical trials. - **General and Administrative Expenses**: These expenses rose by 401% to $6.9 million for the three months ended March 31, 2026, from $1.4 million for the same period in 2025, mainly driven by a $1.8 million increase in headcount and related expenses, and a $3.7 million increase in legal and other professional services. - **Total Operating Expenses**: Total operating expenses increased by 108% to $15.4 million for the three months ended March 31, 2026, from $7.4 million for the three months ended March 31, 2025. - **Loss from Operations**: The loss from operations increased by 108% to - $15.4 million for the three months ended March 31, 2026, from - $7.4 million for the same period in 2025. - **Interest Income**: Interest income increased to $1.6 million for the three months ended March 31, 2026, from $0.1 million for the same period in 2025, a 1,163% increase. - **Change in Fair Value of Redeemable Convertible Preferred Stock Tranche Liability**: This liability showed a - $1.5 million decrease in loss for the three months ended March 31, 2026, compared to - $1.5 million in expense for the same period in 2025, due to the settlement of the tranche liability. - **Total Other Income (Expense)**: Total other income was $1.6 million for the three months ended March 31, 2026, compared to - $1.4 million in total other expenses for the three months ended March 31, 2025. #### Cash Flow - **Net Cash Used in Operating Activities**: Net cash used in operating activities was - $13.5 million for the three months ended March 31, 2026, compared to - $8.2 million for the same period in 2025. - **Net Cash Used in Investing Activities**: Net cash used in investing activities was - $1.7 million for the three months ended March 31, 2026, primarily due to $4.0 million in short-term investment purchases and $0.7 million in property and equipment purchases, partially offset by $3.0 million in redemptions of short-term investments. For the three months ended March 31, 2025, net cash used in investing activities was - $0.2 million, mainly for property and equipment purchases. - **Net Cash Provided by Financing Activities**: Net cash provided by financing activities was $157.8 million for the three months ended March 31, 2026, primarily from $157.7 million in net cash proceeds from the IPO and $0.1 million from stock option exercises. For the same period in 2025, net cash provided was $50.1 million, mainly from $50.0 million in net cash proceeds from the sale of Series C-2 redeemable convertible preferred stock and $0.1 million from stock option exercises. #### Unique Metrics - **Accumulated Deficit**: As of March 31, 2026, SpyGlass Pharma, Inc. had an accumulated deficit of - $118.5 million. - **Cash and Cash Equivalents and Short-term Investments**: As of March 31, 2026, the company held $251.0 million in cash and cash equivalents and short-term investments. #### Future Outlook and Strategy SpyGlass Pharma, Inc. expects to complete enrollment in its Phase 3 trials in 2027 and plans to submit a 505(b)(2) New Drug Application (NDA) to the FDA in 2028, pending successful Phase 3 results. The company anticipates that its operating expenses and capital expenditures will increase substantially due to ongoing activities, including increased research and development costs for Phase 3 trials and rising general and administrative costs as a public company. Management believes that the net proceeds from its IPO, combined with existing cash and short-term investments, will provide sufficient liquidity to fund operating expenses and capital expenditure requirements through 2028. ### Related Stocks - [SGP.US](https://longbridge.com/en/quote/SGP.US.md) ## Related News & Research - [ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2026 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2026 DIVIDEND OF $0.48 PER SHARE | ARCC Stock News](https://longbridge.com/en/news/294187076.md) - [Baxter Q2 2026 Earnings Preview](https://longbridge.com/en/news/294224876.md) - [What to Expect From Ulta Beauty’s Q2 2026 Earnings Report](https://longbridge.com/en/news/293941254.md) - [What to Expect From Adobe’s Q3 2026 Earnings Report](https://longbridge.com/en/news/293933244.md) - [JSL updates financial events calendar for 2026](https://longbridge.com/en/news/294067473.md)