ObsEva expects the sale proceeds to resolve its current over-indebtedness position, enabling the Company to withdraw the Company's previously announced moratorium proceedings before Swiss courts, as well as position the Company to regain compliance with minimum stockholders' equity requirements for continued listing on The Nasdaq Stock Market ("Nasdaq"). "The sale of the Ebopiprant license agreement both strengthens our immediate financial position, while providing the potential for future upside for shareholders," said Brian O'Callaghan, CEO of ObsEva. "The transaction marks the successful completion of a restructuring process whereby we have extracted material savings through the assignment of contracts, streamlined our organizational structure, and restructured our debt.