Eye Care Firm SpyGlass Pharma Raises $150 Million in IPO

SpyGlass Pharma Inc., a biopharmaceutical firm focused on solutions for chronic eye conditions, raised $150 million in a US initial public offering that priced at the midpoint of its marketed range.

The Aliso Viejo, California-based company sold about 9.4 million shares at $16 each, according to a statement Thursday. The firm offered shares for $15 to $17 each. At the IPO price, SpyGlass has a market value of $511 million based on the outstanding shares listed in the filing.

The offering was multiple times oversubscribed, with mutual fund and health-care dedicated investors and participation from existing shareholders, according to ...