-Yselty(R) for uterine fibroids: US New Drug Application filing planned 
in Q2:21; European marketing approval 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 -- March 5, 2021 -- ObsEva SA 
(NASDAQ: OBSV) (SIX: OBSN), a biopharmaceutical company developing and 
commercializing novel therapies to improve women's reproductive health, 
today reported financial results for the year ended December 31, 2020 
and provided a business update. 
 
   "2020 was a critical year for ObsEva as it marked the beginning of our 
transformation from a clinical stage company to one preparing for 
regulatory approvals and commercialization," said Brian O'Callaghan, CEO 
of ObsEva. "The clinical and regulatory achievements of 2020 provide a 
solid foundation upon which to prepare Yselty(R) for market launch in 
uterine fibroids and further its development for endometriosis." 
 
   "Our accomplishments also provide the impetus for advancing ebopiprant 
for treatment of preterm labor into a Phase 2b dose ranging study later 
this year," continued Mr. O'Callaghan.  "Given the potential for 
expedited approval for this program, we are already beginning planning 
for its regulatory submission and commercialization. And though we have 
recently extended our cash runway into Q2 2022, we remain focused on 
securing further sources of long-term funding as well as suitable 
commercialization partners. Given the very positive outlook for ObsEva, 
our entire team is excited about the coming year and what the long-term 
future holds." 
 
   Anticipated Milestones 
 
   ObsEva aims to achieve the following key clinical and regulatory 
objectives in 2021: 
 
 
   -- Yselty(R) for uterine fibroids: NDA submission (Q2:21); MAA approval 
      (Q4:21) 
 
   -- Yselty(R) 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(R) for Uterine Fibroids:  ObsEva is developing Yselty(R), an oral 
      GnRH receptor antagonist with the potential to treat more women thanks 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) recent 
      validation of the marketing authorization application (MAA), a major 
      milestone toward making Yselty(R) available in the E.U., the Company will 
      continue to work closely with the EMA to achieve marketing approval, 
      projected in Q4:2021.  Meanwhile, the Company is also working to submit a 
      U.S. New Drug Application (NDA), projected in Q2:2021, 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. 
 
   -- Yselty(R) for Endometriosis:  The EDELWEISS 3 trial in the EU is 
      progressing as planned, with primary endpoint data expected in Q4:2021. 
      The ongoing Phase 3 EDELWEISS 3 study (Europe and US) was 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, and a 200 mg once-daily dose in 
      combination with hormonal ABT (1 mg E2 / 0.5mg NETA). Subjects who 
      completed the initial six-month treatment period will have the option to 
      enter a six-month treatment extension. 
 
   -- Ebopiprant for Treatment of Preterm Labor:  A key objective for 2021 will 
      be to initiate a Phase 2b clinical study, which will build on the 
      recently announced positive topline data from the PROLONG Phase 2a 
      proof-of-concept study by initiating a late-stage clinical development 
      program. Based on the unmet need, ebopiprant's innovative mechanism of 
      action and positive topline data regarding early clinical efficacy and 
      safety in pregnant women with spontaneous preterm labor, and with no 
      other known compound under development for this indication, the Company 
      plans to discuss with European regulators a possible accelerated 
      registration program based on a Phase 2b/3 adaptively designed trial. 
 
   -- 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 
 
   Cash Position: As of December 31, 2020, ObsEva had cash and cash 
equivalents of $31.2 million, compared with $69.4 million as of December 
31, 2019. In January and February 2021, ObsEva received additional net 
proceeds of $55.6 million from equity issuances via its At-The-Market 
(ATM) program and exercises of warrants that were issued in connection 
with ObsEva's underwritten equity offering completed in September 2020. 
ObsEva believes its available cash and cash equivalents are sufficient 
to fund its planned operations (not including commercialization) into 
Q2:2022. The Company is actively exploring potential sources of 
non-dilutive or hybrid funding, including strategic partnerships and 
structured financing related to its further proposed development and 
commercialization efforts. 
 
   Net Loss: For the year ending December 31, 2020 was $83.0 million, or 
$1.67 per share, compared with a net loss of $108.8 million, or $2.49 
per share, for the year ending December 31, 2019.  Research and 
development expenses were $67.5 million and general and administrative 
expenses were $12.2 million for the full year 2020, compared with $88.1 
million and $19.1 million, respectively, for the full year 2019.  The 
net loss for 2020 included non-cash expenses of $6.5 million for 
stock-based compensation, compared with $11.9 million for 2019. 
 
   The full year 2020 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=c9CRNIZZevuxY1AO9Ip62Gol-XI9jYGMPcch-dXUGeDSIcl7lmbTrPh3E6bBpqoFjNQv6Jz44leS6JgUzuWhT0jVkD5GMapcs6hvyGxfdn4= 
]. 
 
   To access the full year 2020 financial report directly, please click 
[here 
https://www.globenewswire.com/Tracker?data=c9CRNIZZevuxY1AO9Ip62GdwdsSx-VjXXkR78oiagV04pwz0wWGnkjha_rJfE-YTAddpprdLL_M0zIa8y47myAbcO16gMmMJ-8ssXLGKnMCE-8b-Wr9hwS64valvpKbhU2srIdvzta165xmllk6cxw== 
]. 
 
   About ObsEva 
 
   ObsEva is a biopharmaceutical company developing and commercializing 
novel therapies to improve women's reproductive health and pregnancy. 
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 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 SEC. 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 on information available to ObsEva as of the date 
of this release, and ObsEva assumes no obligation to, and does not 
intend to, update any forward-looking statements, whether as a result of 
new information, future events or otherwise. 
 
   For further information, please contact: 
 
   CEO Office Contact: 
 
   Shauna Dillon

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