Cubist Pharmaceuticals Announces Results of Initial Tender Offer for Outstanding Shares of Adolor Corporation and Commencement of Subsequent Offering Period

Cubist Pharmaceuticals, Inc. CBST and Adolor Corporation ADLR today announced the results of Cubist's initial tender offer to purchase all of the outstanding shares of common stock of Adolor for $4.25 per share in cash, plus one nontransferable Contingent Payment Right (CPR) entitling the holder to receive additional cash payments of up to $4.50 for each share tendered if certain regulatory approvals and/or commercialization milestones for ADL5945 are achieved. The tender offer is being effected through Cubist's subsidiary, FRD Acquisition Corporation. The initial tender offer period expired at 12:00 midnight ET, at the end of December 6, 2011. The depositary for the tender offer has advised Cubist that, as of the expiration of the initial offering period, a total of approximately 36,090,910 shares of Adolor common stock were validly tendered and not withdrawn (not including approximately 1,163,147 shares subject to guaranteed delivery procedures), representing approximately 75% of the outstanding Adolor common shares. All shares that were validly tendered and not withdrawn during the initial offering period have been accepted for payment.