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Alexza Consolidates Operations to Focus Resources on AZ-004 (Staccato(R) Loxapine) for Acute Agitation
Date:1/29/2009

loyees," said Thomas B. King, Alexza President and CEO. "We are extremely grateful to all of our employees for their significant contributions and efforts to create new products with a new technology, which we believe have the potential to change the practice of medicine."

"We announced last October that we were significantly ahead of schedule with AZ-004, and at the same time, we would be prioritizing and focusing on what we believe are key near-term value-drivers in 2009, being critically aware of the very difficult capital markets," Mr. King continued. "Alexza has made substantial progress with its Staccato technology and product candidates over the past several years, but find our industry faced with an intensely difficult funding environment, which is critical to the growth of life science companies. The difficult choices we are making reflect that reality, even in the face of our own internal successes."

About Alexza Pharmaceuticals, Inc.

Alexza Pharmaceuticals is an emerging specialty pharmaceutical company focused on the development and commercialization of novel, proprietary products for the treatment of acute and intermittent conditions. The Company's technology, the Staccato system, vaporizes unformulated drug to form a condensation aerosol that allows rapid systemic drug delivery through deep lung inhalation. The drug is quickly absorbed through the lungs into the bloodstream, providing speed of therapeutic onset that is comparable to intravenous administration, but with greater ease, patient comfort and convenience.

Alexza's lead program is AZ-004 (Staccato loxapine) and is being developed for the acute treatment of agitation in schizophrenic or bipolar disorder patients. Alexza has completed and announced positive initial results from both of its AZ-004 Phase 3 clinical trials, and is projecting a New Drug Application submission in early 2010. The Company has compl
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SOURCE Alexza Pharmaceuticals, Inc.
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