| Cash Flow | 2026-06-30 | 2026-03-31 | 2025-12-31 |
|---|---|---|---|
| Net loss | -19,864 | -13,818 | -39,869 |
| Depreciation expense | 342 | 318 | 612 |
| Loss on disposal of property and equipment | 0 | - | -5 |
| Non-cash lease expense | 62 | 63 | 383 |
| Gain on lease termination | - | - | 518 |
| Stock-based compensation | 2,085 | 1,675 | 2,786 |
| Change in fair value of redeemable convertible preferred stock tranche liability | 0 | 0 | 1,526 |
| Interest receivable | -58 | 31 | 74 |
| Other receivables | 25 | 222 | 8 |
| Prepaid expenses and other current assets | -109 | 805 | 186 |
| Other non-current assets | -30 | 298 | 38 |
| Accounts payable | 764 | 953 | 549 |
| Payroll-related accruals | 841 | -1,300 | 900 |
| Accrued expenses and other current liabilities | - | - | 1,672 |
| Other current liabilities | 733 | -104 | - |
| Lease liability | 26 | 25 | -441 |
| Net cash used in operating activities | -14,839 | -13,544 | -32,701 |
| Property and equipment | 1,932 | 676 | 789 |
| Purchases of short-term investments | 7,000 | 4,000 | 17,001 |
| Redemptions of short-term investments | 7,999 | 3,009 | 5,996 |
| Net cash used in investing activities | -933 | -1,667 | -11,794 |
| Proceeds from exercise of stock options | 31 | 55 | 170 |
| Repurchases of common stock | 0 | - | 1,450 |
| Gross proceeds from issuance of redeemable convertible preferred stock | 0 | 0 | 127,336 |
| Issuance costs of redeemable convertible preferred stock | 0 | 0 | 288 |
| Gross proceeds from initial public offering of common stock, net of underwriting discounts and commissions | 0 | 160,425 | - |
| Payments for deferred initial public offering costs | 18 | 2,725 | 1,183 |
| Net cash provided by financing activities | 13 | 157,755 | 124,585 |
| Net increase in cash and cash equivalents | -15,759 | 142,544 | 80,090 |
| Cash and cash equivalents, beginning of period | 238,902 | 96,358 | 16,268 |
| Cash and cash equivalents, end of period | 223,143 | 238,902 | 96,358 |
SpyGlass Pharma, Inc. (SGP)
SpyGlass Pharma, Inc. (SGP)