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Alexza Reports 2008 Third Quarter Financial Results and Updates Development of Product Candidates
Date:11/6/2008

Conference Call Scheduled for Today - Thursday, November 6, 2008 at 4:30

p.m. Eastern Time

MOUNTAIN VIEW, Calif., Nov. 6 /PRNewswire-FirstCall/ -- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) reported today financial results for the quarter and nine month period ended September 30, 2008, and provided an update on its product development candidates. The net loss for the quarter and nine month period ended September 30, 2008, as reported in accordance with accounting principles generally accepted in the United States (GAAP), was $14.7 million and $43.4 million, respectively, compared to a net loss of $10.8 million and $31.9 million in the comparable periods in 2007. Alexza had consolidated cash, cash equivalents and marketable securities (including investments held by Symphony Allegro) at September 30, 2008 of $78.0 million.

"We continue to make excellent progress with our lead program, AZ-004 (Staccato(R) loxapine)," said Thomas B. King, President and CEO of Alexza. "With our second Phase 3 trial recently enrolled and initial data expected before the end of the year, we are two years ahead of our original schedule. If data from this second Phase 3 trial are also positive, we expect to submit Alexza's first NDA in early 2010. To continue on this timeline, we have sharpened our focus on escalating the activities for AZ-004 commercial manufacturing, quality systems, regulatory submissions and strategic marketing."

Financial Results -- Periods Ended September 30, 2008 and 2007

GAAP operating expenses were $21.1 million and $60.8 million in the quarter and nine month period ended September 30, 2008, compared to $15.1 million and $43.1 million for the comparable periods in 2007. The increas
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SOURCE Alexza Pharmaceuticals, Inc.
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Related medicine news :

1. Alexza to Initiate the First Phase 3 Trial for AZ-004 (Staccato(R) Loxapine) in Late Q1 2008
2. Alexza and Autoliv Announce Commercial Manufacturing and Supply Agreement for Heat Packages Used in Single-Dose Staccato(R) System
3. Alexzas Corporate Presentation to be Webcast at the Cowen & Company 28th Annual Health Care Conference
4. Alexza Secures $50 Million Committed Equity Financing Facility With Azimuth Opportunity, Ltd.
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9. Anthony Clarke, PhD Joins Alexza Pharmaceuticals as Vice President, International Development Operations
10. Alexza to Announce 2008 Third Quarter Financial Results and Update Its Clinical Pipeline on Thursday, November 6, 2008
11. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
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