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Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates
Date:5/12/2008

xpenses 19,155 13,820

Loss from operations (19,155) (13,820)

Interest and other income, net 1,080 1,057

Interest expense (291) (235)

Loss before noncontrolling

interest in Symphony Allegro, Inc. (18,366) (12,998)

Loss attributed to noncontrolling

interest in Symphony Allegro, Inc. 3,757 2,082

Net loss $(14,609) $(10,916)

Basic and diluted net loss per share $(0.47) $(0.46)

Shares used to compute

basic and diluted net loss per share 31,225 23,869

Alexza Pharmaceuticals, Inc.

(a development stage enterprise)

Condensed Consolidated Balance Sheets

(in thousands)

March 31, December 31,

2008 2007

Assets Unaudited (1)

Cash, cash equivalents and marketable

securities $75,716 69,391

Investments held by Symphony Allegro, Inc. 35,936 39,449

Other current assets 2,350 13,432

Total current assets 114,002 122,272

Property and equipment, net 25,999 26,156

Other non-current assets 694 697

Total assets 140,695 149,125

Liabilities and stockholders' equity

Current liabilities 15,741 16,180

Non-current liabilities
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SOURCE Alexza Pharmaceuticals, Inc.
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