SAN DIEGO, CA--(Marketwire - March 17, 2008) - Cypress Bioscience, Inc. (NASDAQ: CYPB) today announced its financial results for the fourth quarter and year ended December 31, 2007. For the quarter ended December 31, 2007, the Company reported net income of approximately $3.0 million or $0.08 per share basic and diluted compared to a net loss of approximately $1.0 million or $0.03 per share basic and diluted for the corresponding period in 2006. For the year ended December 31, 2007, the Company reported net income of approximately $3.5 million or $0.10 per share basic and diluted compared to a net loss of approximately $8.3 million or $0.26 per share basic and diluted for the corresponding period in 2006. At December 31, 2007, the Company had cash, cash equivalents and investments totaling $181.8 million.
