<SEC-DOCUMENT>0001816523-26-000004.txt : 20260209
<SEC-HEADER>0001816523-26-000004.hdr.sgml : 20260209
<ACCEPTANCE-DATETIME>20260209165132
ACCESSION NUMBER:		0001816523-26-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260205
FILED AS OF DATE:		20260209
DATE AS OF CHANGE:		20260209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Scheiner Zachary
		CENTRAL INDEX KEY:			0001816523
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-43105
		FILM NUMBER:		26612212

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SpyGlass Pharma, Inc.
		CENTRAL INDEX KEY:			0001778922
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				833044245
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		27081 ALISO CREEK ROAD
		STREET 2:		SUITE 125
		CITY:			ALISO VIEJO
		STATE:			CA
		ZIP:			92656
		BUSINESS PHONE:		949-284-6904

	MAIL ADDRESS:	
		STREET 1:		27081 ALISO CREEK ROAD
		STREET 2:		SUITE 125
		CITY:			ALISO VIEJO
		STATE:			CA
		ZIP:			92656

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SpyGlassPharma, Inc.
		DATE OF NAME CHANGE:	20230711

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SpyGlass Ophthalmics, Inc.
		DATE OF NAME CHANGE:	20190605
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-02092026_090229.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-05</periodOfReport>

    <issuer>
        <issuerCik>0001778922</issuerCik>
        <issuerName>SpyGlass Pharma, Inc.</issuerName>
        <issuerTradingSymbol>SGP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001816523</rptOwnerCik>
            <rptOwnerName>Scheiner Zachary</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SPYGLASS PHARMA, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>27061 ALISO CREEK RD., SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>ALISO VIEJO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92656</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-02-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>27400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2036-02-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>27400</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>27400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Subject to the Reporting Person's continuing as an Outside Director (as defined in the Issuer's 2026 Equity Incentive Plan) through such applicable vesting date, one thirty-sixth (1/36th) of the shares subject to the option shall vest each month following the Date of Grant on the same day of the month as the Date of Grant (and if there is no corresponding day, on the last day of the month). &quot;Date of Grant&quot; shall mean February 5, 2026.</footnote>
        <footnote id="F2">Under the Reporting Person's arrangement with RA Capital Management, L.P. (the &quot;Adviser&quot;), the Reporting Person holds the option for the benefit of the RA Capital Healthcare Fund, L.P. (the &quot;Fund&quot;) and the RA Capital Nexus Fund III, L.P. (the &quot;Nexus Fund III&quot;). The Reporting Person is obligated to turn over to the Adviser any net cash or stock received upon exercise of the stock option, which will offset advisory fees owed by the Fund and the Nexus Fund III to the Adviser. The Reporting Person therefore disclaims beneficial ownership of the option and underlying common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Brian Aukshunas, as Attorney-in-Fact</signatureName>
        <signatureDate>2026-02-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
