ALISO VIEJO, Calif. - SpyGlass Pharma, Inc. (NASDAQ:SGP) announced today the appointment of Mike Pinder as vice president of marketing, according to a press release statement. The appointment comes as shares trade at $18.32, near their 52-week low of $18.18, with the stock down 11% over the past week.
Pinder brings over 20 years of commercial launch experience in ophthalmology. He will build and lead the marketing function as the company progresses its Bimatoprost Drug Pad-IOL System through Phase 3 clinical trials.
The company is currently enrolling participants into two Phase 3 trials for the BIM-IOL System, which is being developed for potential commercialization pending FDA approval.
Pinder most recently served as head of IZERVAY marketing at Astellas Pharma. Prior to that role, he led patient marketing in the Novartis ophthalmology buy-and-bill retina franchise and hospital marketing at Johnson & Johnson. He also held positions in payer marketing and sales leadership at Johnson & Johnson. Pinder holds a Bachelor of Arts degree in communications from the University of Massachusetts Amherst.
"We are thrilled to welcome Mike to SpyGlass Pharma as we continue to enroll participants into our two BIM-IOL System Phase 3 trials," said Patrick Mooney, chief executive officer of SpyGlass Pharma.
SpyGlass Pharma is a late-stage biopharmaceutical company focused on developing long-acting, sustained drug delivery treatments for chronic eye conditions. The company was founded in 2019 by Malik Y. Kahook, M.D. and Glenn Sussman. Its platform technology was originally developed in the Sue Anschutz-Rodgers Eye Center at the University of Colorado Anschutz School of Medicine.
In other recent news, SpyGlass Pharma reported a first-quarter net loss of $13.8 million, translating to a loss of $0.69 per share. This marks an increase from the previous year’s first-quarter net loss of $8.8 million, or $3.96 per share. These developments come as the company continues to advance its Phase 3 trials. Despite the reported loss, the company saw a slight increase in share value during pre-market trading. Investors may be interested in following the progress of the company’s trials, as such advancements could impact future financial results. It’s important to note that these are recent developments in the company’s financial and operational landscape.
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