SpyGlass Pharma initiated with an Outperform at Leerink

Leerink initiated coverage of SpyGlass Pharma (SGP) with an Outperform rating and $42 price target The firm says the company’s lead asset, the BIM-IOL-System, addresses a large market opportunity, as 20% of the 5M cataract procedures per year in the U.S. are conducted on patients with glaucoma. Leerink believes SpyGlass’ combination product “is an answer for simultaneously solving both the cataract and delivering best-in-class glaucoma medication” continuously for three years.