X0202 4 2005-07-18 0000716054 CYPRESS BIOSCIENCE INC CYPB 0001055666 KRANZLER JAY D 4350 EXECUTIVE DRIVE SUITE 325 SAN DIEGO CA 92121 1 1 0 0 CEO Common Stock 2005-07-18 4 M 0 40000 2.50 A 181500 I By Trust Common Stock 2005-07-18 4 S 0 2500 13.03 D 179000 I By Trust Common Stock 2005-07-18 4 S 0 3000 13.07 D 176000 I By Trust Common Stock 2005-07-18 4 S 0 6000 13.10 D 170000 I By Trust Common Stock 2005-07-18 4 S 0 2000 13.17 D 168000 I By Trust Common Stock 2005-07-18 4 S 0 8000 13.25 D 160000 I By Trust Common Stock 2005-07-18 4 S 0 2000 13.27 D 158000 I By Trust Common Stock 2005-07-18 4 S 0 2500 13.29 D 155500 I By Trust Common Stock 2005-07-18 4 S 0 6000 13.35 D 149500 I By Trust Common Stock 2005-07-18 4 S 0 3000 13.55 D 146500 I By Trust Common Stock 2005-07-18 4 S 0 5000 13.60 D 141500 I By Trust Common Stock 625 D Common Stock 76631 I By 401(k) plan Stock Option (right to buy) 2.50 2005-07-18 4 M 0 40000 0 D 1996-01-19 2006-01-19 Common Stock 40000 200260 D The shares subject to the option were fully vested as of January 1, 1999. The sales reported in the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 14, 2005. Between October 1, 2004 and June 30, 2005, 7,374 shares of Common Stock were transferred to the Cypress Bioscience, Inc. 401(k) plan, of which the Reporting Person is the trustee and has voting power over such shares. Jay Kranzler 2005-07-19