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Alexza Completes Target Enrollment in AZ-104 Phase 2a Clinical Trial in Migraine Patients
Date:12/18/2007

patients with acute pain and AZ-007 (Staccato zaleplon) for the treatment of insomnia.

Safe Harbor Statement

This press release includes forward-looking statements regarding the potential timing of the completion and announcement of results of the AZ-104 Phase 2a clinical trial, potential benefits of AZ-104, future development of the Company's product candidates and safety of the Company's products and technologies. Any statement describing the Company's 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. The Company'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 the Company's Annual Report on Form 10-K/A for the year ended December 31, 2006, and the Company's other Periodic and Current Reports filed with the Securities and Exchange Commission. 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.


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