SpyGlass Pharma : April 2026 Corporate Presentation

Published: 2026-04-29 13:10:12 ET SGP

Published on 04/29/2026 at 01:10 pm EDT

Intraocular Drug Delivery THAT LASTS

APRIL 2026

Company Overview

VALUE PROPOSITION

SpyGlass is dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines.

Our initial product candidates are designed to deliver multiple years of IOP-lowering therapy for patients with open angle glaucoma (OAG) or ocular hypertension (OHT).

MULTI-BILLION DOLLAR MARKET OPPORTUNITY

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-TERM SAFETY AND EFFICACY - PHASE 3 TRIALS UNDERWAY

FIH results showed 95% of patients off topical IOP-lowering therapy and 37% mean IOP reduction at 36 months across all doses

Phase 1/2 results showed 98% of patients off topical IOP-lowering therapy and 34% mean IOP reduction at 12 months with our intended commercial dose (78 mcg)

CLEAR REGULATORY AND REIMBURSEMENT PATHS

FDA-aligned regulatory approval pathway for BIM-IOL System with a 505(b)(2) NDA and planned reimbursement path via J-Code & existing CPT Codes

FOCUSED PIPELINE

Initial product candidates (BIM-IOL and BIM-DRS) to address unmet needs for OAG/OHT patients undergoing routine cataract surgery

Platform designed to be capable of delivering multiple drugs to potentially address a variety of short-term and long-term eye conditions

STRONG IP GRANTED

Granted patents projected to expire between 2039 and 2043, multiple additional applications filed covering US, EU, Japan, AUS, CAN2

FINANCIAL POSITION

$107.4 million cash and cash equivalents and short-term investments as of December 31, 2025, before gross proceeds of $172.5 million received from IPO closed on February 9, 2026

U.S. market in 2025 based on company estimates.

As of December 31, 2025

SpyGlass Executive Team

DEEP EXPERTISE IN OPHTHALMOLOGY FROM DEVELOPMENT TO COMMERCIALIZATION

PATRICK MOONEY

CEO

MALIK Y. KAHOOK, MD

Co-Founder, Exec. Chair, CMO & President

GLENN SUSSMAN

Co-founder & Chief Technical Advisor

JAMES DENNEWILL

COO

CHETAN PUJARA, PHD

CRDO

JEAN VIRET, PHD

CFO

Everyday, over 80 million people worldwide fight to save their sight from open angle glaucoma1

MarketScope 2025 Global Glaucoma Device Report

Patients Remaining on Medication (%)

Months following Treatment Initiation

Our Vision for an OAG/OHT Patient's Journey

Initial Management

Patient prescribed drop therapy, following the standard OAG/OHT treatment paradigm

Life without drops

Patients enjoy the efficacy of bimatoprost for years without the hassles and issues associated with standard drop therapies.

BIM-IOL System is not FDA approved; this is a hypothetical patient journey.

1.Approximately one million glaucoma and OHT patients projected to undergo cataract surgery in the U.S. in 2025, per MarketScope 2025 Global Glaucoma Device Report.

Cataract Develops1

Surgery

Initial Diagnosis

Patient diagnosed with OAG/OHT

Pre-Op Consultations

The doctor and patient decide to use the BIM-IOL System to treat both the cataract and OAG/OHT in a single surgery

Follow-Up Options

The BIM-IOL System remains implanted and provides vision correction for rest of the patient's life. We are also developing BIM-DRS to enable retreatment of previous BIM-IOL System patients and expand market to other pseudophakic eyes. The patient can also still access the full range of treatment options.

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 (cataract surgery) and a known device type (IOL) to potentially deliver a first-in-class solution that treats cataracts and elevated IOP in a single, streamlined intervention

Clinical Status: Phase 3 pivotal trials underway

Millions of addressable patients every year1

of routine cataract procedures conducted on patients with glaucoma or OHT

United States Rest of World

~1.0M ~5.4M

Sources:

MarketScope 2025 Global Glaucoma Device Report; based on expected prevalence for 2025

U.S. market in 2025 based on company estimates.

Cataract Surgeons routinely performing MIGS

MIGS: MINIMALLY INVASIVE GLAUCOMA SURGERY

Only

of cataract surgeons are routinely performing MIGS procedures

(≥2 per month)

Source: Definitive Healthcare Medicare Claims Database

BIM-IOL System is intended for All Cataract Surgeons managing glaucoma patients

of cataract surgeons are expected to be able to treat elevated IOP at the time of routine cataract surgery

available surgeons

BIM-IOL System is not FDA approved.

Competitive Landscape - BIM-IOL System

Do Nothing

Patient still needs additional therapy

Laser trabeculoplasty, drops, stand-alone MIGS, etc.

Cataract Surgery

Point of Competition

MIGS & Non-bioerodible Intracameral Drug Delivery Implants

Additional surgical procedure

Requires proficiency in gonioscopy

Disrupts workflow of standard cataract surgery

Additional post-operative follow-up care

SpyGlass BIM-IOL System

Seamless integration into existing surgical workflow

Long-term bimatoprost delivery (at least 3 years)

Ultralow dose and compelling safety profile

BIM-IOL System is not FDA approved.

U.S. Registration and Reimbursement

REGISTRATION CMS

Clear approval pathway; multiple FDA meetings completed

Active Investigational New Drug Application Aligned with FDA: 505(b)(2) pathway

Streamlined regulatory approval process

Leverages historical data for bimatoprost

Planned reimbursement pathway

Leverages existing Category I CPT codes for the cataract surgery

Drug expected to be covered by Medicare Part B, as a physician administered drug and paid via HCPCS J-Code

Typically reimbursed at ASP + 6%

BIM-IOL System is not FDA approved.

Clinical and

Nonclinical Data

Consistent Daily Release of Bimatoprost in vitro

Maintained Over Three Years

3+ Years

of consistent daily release of bimatoprost observed in vitro

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

23 E VA LU A BLE PATI EN TS

Baseline washout of all IOP-lowering medications

Sequentially Assigned

BI M - I O L S y s te m (7 5 m cg ) (n = 8 )

BI M - I O L S y s te m (1 5 0 m cg ) (n =8 )

BI M - I O L S y s te m (3 0 0 m cg ) (n =7 )

B AS E L I NE

FIH Feasibility Trial Results - IOP Lowering

95% OF PATIENTS OFF TOPICAL EYE DROPS AT 36 MONTHS

Mean IOP Reduction Sustained over 36 Months Across All Doses

Mean IOP +/- One Standard Deviation (mmHg)

95%

20 of 21 patients off topical IOP-lowering therapy

15 37%

Screening Baseline

(post washout)

75 mcg

150 mcg

300 mcg

Low Dose

Mid Dose

High Dose

1 Month 3 Month 6 Month 9 Month 12 Month 18 Month 24 Month 30 Month 36 Month

Mean IOP reduction observed across all doses

Note: 2 of the 23 subjects previously enrolled in the FIH Feasibility Trail were discontinued prior to the 36-Month Visit. One subject withdrew consent after moving outside the country and one subject was discontinued after receiving a pancreatic cancer diagnosis and was undergoing palliative care.

FIH Feasibility Trial Results - BCDVA & AEs

ALL PATIENTS 20/30 OR BETTER WITH NO PRODUCT- RELATED ADVERSE EVENTS AT 36 MONTHS

BCDVA

36 Months

20/20 or better

62%

20/30 or better

100%

20/40 or better

100%

Cumulative Adverse Events in Study Eye At 36 Months

n = 23 (%)

Related to Product Candidate

Dry eye

5 (21.7%)

BCDVA loss of ≥ 2 lines

3 (13.0%)

Blepharitis

1 (4.3%)

Conjunctival chemosis

1 (4.3%)

Conjunctival hemorrhage

2 (8.7%)

Conjunctival hyperemia

1 (4.3%)

Corneal laceration

1 (4.3%)

Corneal scar

1 (4.3%)

Iris prolapse

1 (4.3%)

Meibomian gland dysfunction

1 (4.3%)

Photokeratitis

1 (4.3%)

100%

All patients BCDVA 20/30 or better

No product-related adverse events recorded

Disclaimer

Spyglass Pharma Inc. published this content on April 29, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 17:09 UTC.