Spyglass Pharma, Inc. · NASDAQ:SGP
Spyglass Pharma — Investor Presentation (August 2026)
33 slides from Spyglass Pharma's investor presentation, August 2026
Slide 1: Intraocular Drug Delivery That Lasts
Intraocular Drug Delivery THAT LASTS August 2026 1
Slide 2: Disclaimers
Disclaimers All statements other than statements of historical facts contained in this presentation may be forward- This presentation discusses product candidates that are under preclinical or clinical evaluation and that looking statements. In some cases, you can identify forward-looking statements
Slide 3: Company Overview
MULTI-BILLION DOLLAR MARKET OPPORTUNITY Company Lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), has a ~$13 billion addressable market1 Overview Long-term OAG/OHT therapy designed to be accessible to ALL cataract surgeons LONG-TERM SAFETY AND EFFICACY – PHASE 3 TRIALS UN
Slide 4: SpyGlass Executive Team
SpyGlass Executive Team D EEP EX PERTISE IN O PH TH A LM OLOGY FR OM D EVELOP M ENT TO COM M ER C I A L I ZATI ON PATRICK MOONEY MALIK Y. KAHOOK, MD GLENN SUSSMAN JAMES DENNEWILL CHETAN PUJARA, PHD JEAN VIRET, PHD CEO Co-Founder, Exec. Chair, Co-founder & Chief COO CRDO CFO CMO & President Technical
Slide 5: Over 80 million people worldwide fight to save their sight from open angle glaucoma
Everyday, over 80 million people worldwide fight to save their sight from open angle glaucoma1 000 1. MarketScope 2025 Global Glaucoma Device Report ©2026 SPYGLASS PHARMA, INC. All rights reserved. 5
Slide 6: Daily eye drops remain the most common method of administering ophthalmic medications
Daily eye drops remain the most common method of administering ophthalmic medications ©2026 SPYGLASS PHARMA, INC. All rights reserved. 6
Slide 7: Patients Remaining on Medication (%)
Patients Remaining on Medication (%) Drops don’t work if patients don’t take them Months following Treatment Initiation Source: Glaucoma: What Every Patient Should Know © 2020 Dr. Harry Quigley and Dr. Mona Kaleem ©2026 SPYGLASS PHARMA, INC. All rights reserved. 7
Slide 8: Our Vision for an OAG/OHT Patient's Journey
Our Vision for an OAG/OHT Patient’s Journey Initial Diagnosis Patient diagnosed with OAG/OHT Initial Management Patient prescribed drop therapy, following the standard OAG/OHT treatment paradigm Cataract Develops1 Pre-Op Consultations The doctor and patient decide to use the BIM-IOL System to treat
Slide 9: BIM-IOL System: Lead product candidate targets 3 years of Bimatoprost therapy
BIM-IOL System: Lead product candidate targets 3 years of Bimatoprost therapy for OAG/OHT Unmet Need: Non-adherence to topical IOP- lowering medications can lead to complications, disease progression and vision loss SpyGlass Approach: Combining a known drug (bimatoprost), with a known procedure (cat
Slide 10: ©2026 SPYGLASS PHARMA, INC. All rights reserved.
©2026 SPYGLASS PHARMA, INC. All rights reserved. 10
Slide 11: ~$13B Total Addressable U.S. Market
Millions of addressable patients every year 1 United States Rest of World 20 % ~ 1.0 M ~ 5.4 M of routine cataract procedures conducted on patients with glaucoma or OHT ~$13B Total Addressable U.S. Market 2 Sources: 1. MarketScope 2025 Global Glaucoma Device Report; based on expected prevalence for
Slide 12: Cataract Surgeons routinely performing MIGS
Cataract Surgeons routinely performing MIGS M IG S: M INIM ALLY INVASIVE G LAUCOM A SUR G ERY Only 1/3 of cataract surgeons are routinely performing MIGS procedures (≥2 per month) Source: Definitive Healthcare Medicare Claims Database ©2026 SPYGLASS PHARMA, INC. All rights reserved. 12
Slide 13: BIM-IOL System is intended for All Cataract Surgeons managing glaucoma patients
BIM-IOL System is intended for All Cataract Surgeons managing glaucoma patients 100 % of cataract surgeons are 3x available expected to be surgeons able to treat elevated IOP at the time of routine cataract surgery BIM-IOL System is not FDA approved. ©2026 SPYGLASS PHARMA, INC. All rights reserved.
Slide 14: Competitive Landscape – BIM-IOL System
Competitive Landscape – BIM-IOL System Do Nothing • Patient still needs additional therapy • Laser trabeculoplasty, drops, stand-alone MIGS, etc. MIGS & Non-bioerodible Intracameral Drug Delivery Implants Cataract Surgery • Additional surgical procedure • Requires proficiency in gonioscopy Point of
Slide 15: U.S. Registration and Reimbursement
U.S. Registration and Reimbursement REGISTRATION CMS Clear approval pathway; multiple FDA Planned reimbursement pathway meetings completed • Leverages existing Category I CPT codes for the Active Investigational New Drug Application cataract surgery • Add-on Category III CPT code 1090T approved in A
Slide 16: Clinical and Nonclinical Data
Clinical and Nonclinical Data ©2026 SPYGLASS PHARMA, INC. All rights reserved. 16
Slide 17: 3+ Years Consistent Daily Release of Bimatoprost in vitro
Consistent Daily Release of Bimatoprost in vitro Maintained Over Three Years 3+ Years of consistent daily release of bimatoprost observed in vitro ©2026 SPYGLASS PHARMA, INC. All rights reserved. 17
Slide 18: FIH Feasibility Trial Design
FIH Feasibility Trial Design Single center, ex-U.S. prospective trial in Honduras to evaluate the safety and efficacy of the BIM-IOL System in patients previously diagnosed with OAG or OHT and a concomitant cataract and who were taking between one and three topical IOP-lowering medications 2 3 E VA
Slide 19: FIH Feasibility Trial Results – IOP Lowering
FIH Feasibility Trial Results – IOP Lowering 9 5 % O F PATIENTS O FF TO PI CA L EYE D R OP S AT 3 6 M ONTHS Mean IOP Reduction Sustained over 36 Months Across All Doses 35 95% Mean IOP +/- One Standard Deviation (mmHg) 30 20 of 21 patients off topical 25 IOP-lowering therapy 20 15 10 37% 5 Mean IOP
Slide 20: FIH Feasibility Trial Results – BCDVA & AEs
FIH Feasibility Trial Results – BCDVA & AEs A LL PAT I ENTS 20/30 O R B ET T ER WIT H NO P R OD UCT- R ELAT ED A DVER SE EVENTS AT 3 6 M ONTHS BCDVA 36 Months Cumulative Adverse Related to 100% Events in Study Eye n = 23 (%) Product At 36 Months Candidate n 21 Dry eye 5 (21.7%) No 20/20 or better 62
Slide 21: Phase 1/2 Trial Design
Phase 1/2 Trial Design 1 0 4 E VA L U A B L E B I M - I O L S y s t e m ( 7 8 m c g ) a n d A r t i f i c i a l Te a r s B I D ( n = 5 1 ) PAT I E N T S • Baseline washout of all R B I M - I O L S y s t e m ( 3 9 m c g ) a n d A r t i f i c i a l Te a r s B I D ( n = 2 3 ) IOP-lowering medications •
Slide 22: Phase 1/2 Trial Protocol
Phase 1/2 Trial Protocol T R IAL OVERVIEW • Prospective, multicenter, randomized, double-masked, controlled Phase 1/2 clinical trial to evaluate the safety and efficacy of our lead candidate, the BIM-IOL System, in patients with OAG or OHT, compared to a control group receiving a commercially availa
Slide 23: Phase 1/2 Trial Results – IOP Lowering
Phase 1/2 Trial Results – IOP Lowering IOP Reduction Targets: • Show mean reduction in IOP within +1.5 mm Hg of timolol at ALL timepoints • Show mean reduction in IOP within +1.0 mm Hg of timolol at 50% of timepoints • EOP2 Update: FDA requested IOP-lowering to be measured at 2 weeks as part of the
Slide 24: Phase 1/2 Trial Results – IOP Medications
Phase 1/2 Trial Results – IOP Medications B IM -IO L SYSTEM D EM O NSTR AT ED A SUB STA NT IA L R ED UCT ION IN TH E NEED FOR A DJU NCTI VE TOPI CA L TH ER A PY Proportion [%(n/m)] of eyes not requiring additional topical IOP-lowering medications 98% 100%* 96% (48/49) (30/30) 100% (22/23) 98% 90% 80
Slide 25: Phase 1/2 Trial Results – Visual Acuity
Phase 1/2 Trial Results – Visual Acuity M EAN B CDVA O F ~ 20/20 ( 8 6 - 8 7 LET T ER S) AT 1 2 M ONT H S ACR OSS A L L A R M S 100 Mean BCDVA by Number of Letters Read 20/20 90 87 86 87 80 All arms mean BCDVA of 70 86-87 letters (~20/20) 60 50 100% 40 30 20 10 - All patients BCDVA 20/32 12 Months o
Slide 26: Safety Assessment at 12 Months
Safety Assessment at 12 Months • Overall safety results were comparable to routine cataract surgery • Adverse event (AE) rates were similar across the 78-mcg (41.2%), 39-mcg (43.5%), and control (36.7%) groups • No serious ocular AEs were observed ©2026 SPYGLASS PHARMA, INC. All rights reserved. 26
Slide 27: Phase 3 Trial Design
Phase 3 Trial Design I D ENT I CAL D ESIG N FO R EACH OF T H E T WO P H A SE 3 T R IA LS (SG P- 005 A ND SG P-006) ~ 4 0 0 E VA L U A B L E PAT I E N T S B I M - I O L S y s t e m ( 7 8 m c g ) a n d A r t i f i c i a l Te a r s B I D ( n = ~ 2 0 0 ) • Baseline washout of all R IOP-lowering medicati
Slide 28: Phase 3 Trial Protocols
Phase 3 Trial Protocols T R IAL OVERVIEW • Each prospective, multicenter, randomized, masked, controlled Phase 3 clinical trial evaluates the safety and efficacy of the BIM-IOL System (78 mcg) in patients with OAG or OHT who are undergoing cataract surgery in at least one eye. Both trials are design
Slide 29: SpyGlass Drug Delivery Platform Pipeline
SpyGlass Drug Delivery Platform Pipeline Program Indication Discovery Preclinical Phase 1/2 Phase 3 Drug Pad- IOL System Bimatoprost OAG/OHT (BIM-IOL System) Drug Ring Program Indication Discovery Preclinical Phase 1/2 Phase 3 System (DRS) Bimatoprost OAG/OHT (BIM-DRS) Program Indication Discovery P
Slide 30: The Road Ahead
The Road Ahead ©2026 SPYGLASS PHARMA, INC. All rights reserved. 30
Slide 31: Anticipated SGP Catalysts
Anticipated SGP Catalysts • 5 Year Data from FIH • 7 Year Data from FIH 3 Year Data from FIH • 24 Month Data from Phase 1/2 • 24 Month Data from Phase 3 3 Month Data from Phase 1/2 • Complete Phase 3 Enrollment • Projected BIM-IOL Launch2 Initiate Phase 3 Trial • 12 Month Data from BIM-DRS FIH
Slide 32: Multi-Billion Dollar Market Opportunity
M U LTI - B I L L I ON DOL L A R M A RKE T OP P ORTU NI TY • Lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM- IOL System), has a ~$13 billion addressable market1 • Long-term OAG/OHT therapy designed to be accessible to ALL cataract surgeons LONG -TE RM SA F E TY A ND E F F I CACY –
Slide 33: Thank You
S SPYGLASS PHARMA Thank You
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