On December 12, 2016, James R. Tobin resigned from the Board of Directors of Chiasma, Inc., including the Audit Committee of the Board, effective immediately. The decision by Mr. Tobin was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. John A. Scarlett, M.D., an existing member of the Board, was appointed to the Audit Committee to fill the vacancy created by Mr. Tobin's resignation.