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Alexza and Biovail Form Collaboration to Develop and Commercialize AZ-004 (Staccato(R) Loxapine) in North America
Date:2/10/2010

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This press release includes forward-looking statements regarding the development, therapeutic potential and safety of AZ-004.  Any statement describing a product candidate or Alexza's goals, expectations or beliefs is a forward-looking statement, as defined in the Private Securities Litigation Reform Act of 1995, and should be considered an at-risk statement.  Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of developing and commercializing drugs.  Alexza's forward-looking statements also involve assumptions that, if they prove incorrect, would cause its results to differ materially from those expressed or implied by such forward-looking statements.  These and other risks concerning Alexza's business are described in additional detail in Alexza's Annual Report on Form 10-K for the year ended December 31, 2008, and Alexza's other Periodic and Current Reports filed with the Securities and Exchange Commission, including the risks under the headings: "We will need substantial additional capital in the future. If additional capital is not available, we will have to delay, reduce or cease operations.", "Regulatory authorities may not approve our product candidates even if they meet safety and efficacy endpoints in clinical trials." and "If we enter into strategic partnerships, we may be required to relinquish important rights to and control over the development of our product candidates or otherwise be subject to terms unfavorable to us.".  Forward-looking statements contained in this announcement are made as of this date, and we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Alexza Pharmaceuticals, Inc.

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SOURCE Alexza Pharmaceuticals, Inc.
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