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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
716054	Cypress Bioscience Inc	CYPB	Biological Products, (No Disgnostic Substances) (2836)	222389839

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1055666	D Jay Kranzler	4350 Executive Drive Suite 214 San Diego CA 92121	Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-12-23	152,464	$3.25	249,206	No	4	M	Indirect	By Trust
Common Stock	Disposition	2010-12-23	152,464	$6.45	96,742	No	4	S	Indirect	By Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Indirect	By Trust
No	4	S	Indirect	By Trust

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options (right to buy)	Disposition	2010-12-23	152,464	$0.00	152,464	$3.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2012-04-29	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	625	Direct
Common Stock	398,692	Indirect	By 401(k) Plan

Footnotes

The weighted average sale price for the transaction reported was $6.4501, the range of prices were between $6.45 and $6.455. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price will be provided.
The shares subject to the option are fully vested
Between January 1, 2010 and December 14, 2010, 196,440 shares of Common Stock were transfered into the Cypress Bioscience, Inc. 401(k) plan, of which the Reporting Person is the trustee and has voting power over such shares.