-Yselty(R) for uterine fibroids: US New Drug Application submission 
planned in Q3:21; European marketing approval recommendation anticipated 
in Q4:21- 
 
   -Yselty(R) for endometriosis: Readout from Phase 3 EDELWEISS 3 study 
expected in Q4:21- 
 
   -Ebopiprant: Phase 2b dose ranging study planned to initiate in Q4:21 
based on positive Phase 2a proof of concept- 
 
   -Actively pursuing new indications and partnerships to maximize value of 
pipeline candidates- 
 
 
 
   GENEVA, Switzerland and BOSTON, MA -- May 6, 2021 -- ObsEva SA (NASDAQ: 
OBSV) (SIX: OBSN) (ObsEva or the Company), a biopharmaceutical company 
developing and commercializing novel therapies to improve women's 
reproductive health, today reported financial results for the quarter 
ended March 31, 2021 and provided a business update. 
 
   "The outset of 2021 was marked with a prioritization of capitalization 
and commercialization, and we have made significant progress on both 
fronts," said Brian O'Callaghan, CEO of ObsEva. "In the first quarter of 
2021, we raised over $60 million in gross equity proceeds, providing the 
capital needed to continue to advance our pipeline, reach multiple 
clinical and regulatory milestones, and execute on our well-defined 
strategic plan. On the commercialization front, we have created 
significant optionality and momentum with numerous negotiations that 
have reached an advanced stage. We plan to build on this momentum and 
select the best potential partners and strategies for each of our 
programs and look forward to providing additional updates in due 
course." 
 
 
 
   Anticipated Milestones 
 
   ObsEva aims to achieve the following key clinical and regulatory 
objectives in 2021: 
 
 
   -- Yselty for uterine fibroids: NDA submission (Q3:21); MAA approval 
      recommendation (Q4:21) 
 
   -- Yselty for endometriosis: Phase 3 EDELWEISS 3 primary endpoint readout 
      (Q4:21) 
 
   -- Ebopiprant for treatment of preterm labor: Phase 2b dose ranging study 
      initiation in EU/Asia (Q4:21) 
 
 
 
 
   Pipeline Update 
 
   Yselty for the treatment of uterine fibroids and endometriosis 
 
 
   -- Yselty for Uterine Fibroids:   ObsEva is developing Yselty, an oral GnRH 
      receptor antagonist with the potential to treat more women due to its 
      potential best-in-class efficacy, a favorable tolerability profile and 
      unique, flexible dosing options for the treatment of uterine fibroids. 
      Following the European Medicine Agency's (EMA) validation of the 
      marketing authorization application (MAA), a major milestone toward 
      making Yselty available in the EU, the Company continues to work closely 
      with the EMA to achieve marketing approval, with an approval 
      recommendation from the Committee for Medicinal Products for Human Use 
      (CHMP) projected in Q4:2021 and formal product approval expected to 
      follow shortly thereafter. The Company is also working to submit a U.S. 
      New Drug Application (NDA) with the U.S. Food and Drug Administration 
      (FDA), projected in Q3:2021, that will include the Week 76 post-treatment 
      follow-up results from the Phase 3 PRIMROSE 1 (US only; n=574) and 
      PRIMROSE 2 (Europe and US; n=535) clinical studies. In addition, the 
      Company recently announced commencement of an observational study 
      (PRIMROSE 3) of bone mineral density in women who completed at least 20 
      weeks of treatment in either of the PRIMROSE 1 or 2 studies. 
 
 
   -- Yselty for Endometriosis: The EDELWEISS 3 study in the EU is progressing 
      as planned, with randomization of patients recently completed and primary 
      endpoint data expected in Q4:2021. The ongoing Phase 3 EDELWEISS 3 study 
      (Europe and US) is designed to enroll approximately 450 patients with 
      endometriosis-associated pain, with a co-primary endpoint of response on 
      both dysmenorrhea (menstrual pain) and non-menstrual pelvic pain. The 
      study includes a 75 mg once-daily dose without hormonal ABT (1 mg 
      estradiol / 0.5mg norethindrone acetate), and a 200 mg once-daily dose in 
      combination with hormonal ABT. Subjects who have completed the initial 
      six-month treatment period will have the option to enter a six-month 
      treatment extension. 
 
 
   Ebopiprant for Treatment of Preterm Labor:   Preparations are ongoing to 
initiate a Phase 2b clinical study in Q4:21. The Phase 2b dose ranging 
study will build on the recently announced PROLONG Phase 2a 
proof-of-concept study, which demonstrated early clinical efficacy and 
safety in pregnant women with spontaneous preterm labor. Given 
ebopiprant is currently the only known product in development for this 
indication and based on its innovative mechanism of action and positive 
topline data, the Company plans to discuss with European regulators a 
possible accelerated registration program based on a Phase 2b/3 adaptive 
design.    In parallel with development of ebopiprant in Europe and Asia, 
the Company is also actively evaluating the regulatory strategy for 
ebopiprant development in the United States, where there are currently 
no FDA-approved tocolytic medications available for treatment of preterm 
labor. 
 
   Nolasiban for In Vitro Fertilization:   ObsEva is also advancing 
nolasiban, an oral oxytocin receptor antagonist, to improve live birth 
rates in women undergoing in vitro fertilization. 
 
 
 
   Financial Update 
 
   Net loss for the quarter ending March 31, 2021 was $20.0 million, or 
$0.29 per share, compared with a net loss of $21.9 million, or $0.48 per 
share, for the quarter ending March 31, 2020. Research and development 
expenses were $15.5 million and general and administrative expenses were 
$4.2 million for the quarter ended March 31, 2021, compared with $17.2 
million and $3.7 million, respectively, for the prior year quarter. The 
net loss for the quarter ended March 31, 2021 included non-cash expenses 
of $2.0 million for stock-based compensation, compared with $2.7 million 
for the prior year period. 
 
   As of March 31, 2021, ObsEva had cash and cash equivalents of $68.0 
million, compared with $31.2 million as of December 31, 2020. On March 
5, 2021, ObsEva entered into a Sale Agreement with SVB Leerink LLC (SVB 
Leerink) to offer and sell common shares having an aggregate offering 
price of up to $50 million from time to time through an at the market 
offering under which SVB Leerink will act as sales agent. 
 
   The first quarter 2021 financial report will be available in the 
financial reports section of the Company's website. 
 
   To access the financial reports section of the Company's website, please 
click [here 
https://www.globenewswire.com/Tracker?data=m0xl2-WCFUz-JVbpcm3R2djGF4o6jNUmwDB682d2EfuhwwGoKeVxPEOIiBbeyQwtHMV0sgZbp46vGi7YwA5TkI12tBKyza4Sp1NxATgIEWQ= 
]. 
 
   To access the first quarter 2021 financial report directly, please click 
[here 
https://www.globenewswire.com/Tracker?data=m0xl2-WCFUz-JVbpcm3R2QmwvYaB1GFdSQSwFe7ENFuJttPkMhZPvWLU0siQ_7z_jKvKwYQXLeO_ZqlZ1xiBY74VvtgtDqjFugtwF1CdTRvr1NWYSbRLEnFBBdIjOCAprL0EIGxtmuchBdI4o78BSg== 
]. 
 
 
 
   About ObsEva 
 
   ObsEva is a biopharmaceutical company developing and commercializing 
novel therapies to improve women's reproductive health. Through 
strategic in-licensing and disciplined drug development, ObsEva has 
established a late-stage clinical pipeline with development programs 
focused on treating endometriosis, uterine fibroids and preterm labor. 
ObsEva is listed on the Nasdaq Global Select Market and is trading under 
the ticker symbol "OBSV" and on the SIX Swiss Exchange where it is 
trading under the ticker symbol "OBSN". For more information, please 
visit 
https://www.globenewswire.com/Tracker?data=tAOHZ1LrgXx2Yi7eZkMIk_6fApddMrT0OV1lwus5T2Sc5P8Psnvvr0EfViL6o8gUe35NiHCd_puM4afB4OJDaA== 
www.ObsEva.com. 
 
 
 
   Cautionary Note Regarding Forward-Looking Statements 
 
   Any statements contained in this press release that do not describe 
historical facts may constitute forward-looking statements as that term 
is defined in the Private Securities Litigation Reform Act of 1995. 
These statements may be identified by words such as "believe", "expect", 
"may", "plan", "potential", "will", and other similar expressions, and 
are based on ObsEva's current beliefs and expectations. These 
forward-looking statements include expectations regarding the potential 
therapeutic benefits and the clinical development of ObsEva's product 
candidates, the potential for new indications for any of ObsEva's 
product candidates, the timing of enrollment in and data from clinical 
trials, expectations regarding regulatory and development milestones, 
including the potential timing of regulatory submissions to the EMA and 
FDA, the timing of and ObsEva's ability to obtain and maintain 
regulatory approvals for its product candidates, the results of 
interactions with regulatory authorities and the potential to raise 
additional funds or enter into strategic partnerships in the future. 
These statements involve risks and uncertainties that could cause actual 
results to differ materially from those reflected in such statements. 
Risks and uncertainties that may cause actual results to differ 
materially include uncertainties inherent in the conduct of clinical 
trials and clinical development, including the risk that the results of 
earlier clinical trials may not be predictive of the results of later 
stage clinical trials, related interactions with regulators, ObsEva's 
reliance on third parties over which it may not always have full control, 
the impact of the novel coronavirus outbreak, and other risks and 
uncertainties that are described in the Risk Factors section of ObsEva's 
Annual Report on Form 20-F for the year ended December 31, 2020 and 
other filings ObsEva makes with the U.S. Securities and Exchange 
Commission. These documents are available on the Investors page of 
ObsEva's website at http://www.ObsEva.com. Any forward-looking 
statements speak only as of the date of this press release and are based

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