Four new metabolites have been isolated from a marine red cyanobacterium, Lyngbya majuscula, collected at Boca del Drago Beach, Bocas del Toro, Panama. The planar structures were elucidated by 1D and 2D NMR techniques. These compounds were assigned the trivial names pseudodysidenin (2), dysidenamide (3), nordysidenin (4), and dragonamide (7).