SpyGlass Pharma, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 14, 2026
SGP$34.18-10.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(13,818) | $(8,823) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation expense | 318 | 124 |
| Non-cash lease expense | 63 | 99 |
| Stock-based compensation | 1,675 | 345 |
| Change in fair value of redeemable convertible preferred stock tranche liability | — | 1,526 |
| Interest receivable | (31) | — |
| Changes in: | ||
| Other receivables | (222) | (205) |
| Prepaid expenses and other current assets | (805) | 157 |
| Other non-current assets | (298) | (26) |
| Accounts payable | 953 | (372) |
| Payroll-related accruals | (1,300) | (883) |
| Other current liabilities | (104) | (35) |
| Lease liability | 25 | (108) |
| Net cash used in operating activities | (13,544) | (8,201) |
| Cash flows from investing activities | ||
| Property and equipment | (676) | (164) |
| Purchases of short-term investments | (4,000) | — |
| Redemptions of short-term investments | 3,009 | — |
| Net cash used in investing activities | (1,667) | (164) |
| Cash flows from financing activities | ||
| Proceeds from exercise of stock options | 55 | 100 |
| Gross proceeds from issuance of redeemable convertible preferred stock | — | 50,010 |
| Issuance costs of redeemable convertible preferred stock | — | (14) |
| Gross proceeds from initial public offering of common stock, net of underwriting discounts and commissions | 160,425 | — |
| Payments for deferred initial public offering costs | (2,725) | — |
| Net cash provided by financing activities | 157,755 | 50,096 |
| Net increase in cash and cash equivalents | 142,544 | 41,731 |
| Cash and cash equivalents, beginning of period | 96,358 | 16,268 |
| Cash and cash equivalents, end of period | $238,902 | $57,999 |
| Supplemental cash flow information | ||
| Cash paid for taxes | $— | $4 |
| Conversion of redeemable convertible preferred stock upon initial public offering | $204,537 | $— |
| Settlement of redeemable convertible preferred stock tranche liability | $— | $4,943 |
| Purchases of property and equipment included in accounts payable and other current liabilities | $296 | $36 |
| Deferred offering costs included in accounts payable and other current liabilities | $17 | $— |
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