X0202 4 2007-07-23 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 2007-07-23 4 S 0 2090 D 141234 I By Trust Common Stock 2007-07-23 4 S 0 3310 D 137924 I By Trust Common Stock 2007-07-23 4 S 0 3600 D 134324 I By Trust Common Stock 2007-07-23 4 S 0 3600 D 130724 I By Trust Common Stock 2007-07-23 4 S 0 3000 D 127724 I By Trust Common Stock 2007-07-23 4 S 0 7000 D 120724 I By Trust Common Stock 2007-07-23 4 S 0 2400 D 118324 I By Trust Common Stock 625 D Common Stock 80556 I By 401(k) plan The sales reported in the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 1, 2007. Shares were sold at prices ranging from $12.26 to $12.36. Shares were sold at prices ranging from $12.37 to $12.46. Shares were sold at prices ranging from $12.48 to $12.57. Shares were sold at prices ranging from $12.59 to $12.69. Shares were sold at prices ranging from $12.70 to $12.79. Shares were sold at prices ranging from $12.84 to $12.91. Shares were sold at prices ranging from $12.94 to $13.00. Between June 1, 2007 and July 23, 2007, 5,199 shares of Common Stock were transfered out of the Issuer's 401(k) Plan, and on June 30, 2007, 7,355 shares were acquired under the Issuer's 401(k) Plan, of which the Reporting Person is the trustee and has voting power over such shares. /s/ Denise Wheeler Attorney-in-Fact 2007-07-25