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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
CYPRESS BIOSCIENCE, INC.
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(Name of Issuer)
COMMON STOCK, $.02 PAR VALUE PER SHARE
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(Title of Class of Securities)
232674 10 1
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(CUSIP Number)
12/31/99
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(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 4 pages
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CUSIP NO. 232674101 13G PAGE 2 OF 4 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JAY D. KRANZLER
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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5 SOLE VOTING POWER
NUMBER OF 3,250,911(1)
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 213,935(2)
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 3,250,911(1)
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8 SHARED DISPOSITIVE POWER
213,935(2)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,464,846
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.0%
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12 TYPE OF REPORTING PERSON*
IN
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(1) INCLUDES 3,050,913 SHARES ISSUABLE TO REPORTING PERSON UPON EXERCISE OF
OPTIONS TO PURCHASE COMMON STOCK WITHIN 60 DAYS OF DECEMBER 31, 1999.
(2) REPRESENTS SHARES HELD IN THE ISSUER'S 401(k) PLAN, OF WHICH THE REPORTING
PERSON IS A CO-TRUSTEE. THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF
THESE SECURITIES, AND THIS REPORT SHALL NOT BE DEEMED AN ADMISSION THAT THE
REPORTING PERSON IS THE BENEFICIAL OWNER OF SUCH SECURITIES.
Page 2 of 4 pages
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ITEM 1(a). Name of Issuer:
Cypress Bioscience, Inc., a Delaware corporation
ITEM 1(b). Address of Issuer's Principal Executive Offices:
4350 Executive Drive, Suite 325
San Diego, CA 92121
ITEM 2(a). Name of Person Filing:
Jay D. Kranzler
ITEM 2(b). Address of Principal Business Office or, if none, Residence:
4350 Executive Drive, Suite 325
San Diego, CA 92121
ITEM 2(c). Citizenship:
United States
ITEM 2(d). Title of Class of Securities:
Common Stock
ITEM 2(e). CUSIP Number:
232674 10 1
ITEM 3. NOT APPLICABLE.
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned:
3,464,846 shares, including (i) 3,050,913 shares issuable to Reporting
Person upon exercise of options to purchase Common Stock within 60
days of 12/31/99, and (ii) 213,935 shares held in the Issuer's 401(k)
Plan, of which the Reporting person is a co-trustee.
(b) Percent of Class: 7.0%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 3,250,911
(ii) shared power to vote or to direct the vote: 213,935
(iii) sole power to dispose or to direct the disposition of: 3,250,911
(iv) shared power to dispose or to direct the disposition of: 213,935
Page 3 of 4 pages
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following: [ ]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
February 4, 2000
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Date
/s/ Jay D. Kranzler
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Signature
Jay D. Kranzler
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Printed Name
Page 4 of 4 pages
