Roumell withdraws nomination of Hellerman, supports management's efforts

   Roumell withdraws nomination of Hellerman, supports management's efforts  PR Newswire  CHEVY CHASE, Md., May 21, 2014  CHEVY CHASE, Md., May 21, 2014 /PRNewswire/ --  May 20, 2014  Board of Directors Transcept Pharmaceuticals, Inc. 1003 W. Cutting Blvd. Suite 110 Pt. Richmond, CA 94804  Consistent with our status as a passive shareholder, Roumell Asset Management withdraws the nomination of Gerald Hellerman to the Board. We believe the Company is taking the proper steps to maximize value for shareholders and is diligently and methodically reviewing several potential transactions. Moreover, we applaud the company's recent decision to promptly distribute $25 million in cash to shareholders.  Regards, James C. Roumell  SOURCE Roumell Asset Management, LLC  Contact: Roumell Asset Management, LLC, +1-301-656-8500  
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