Date:11/9/2010

nsidered 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 for the year ended December 31, 2009, and the Company's other Periodic and Current Reports filed with the Securities and Exchange Commission including the risks under the headings: "Regulatory authorities may not approve our product candidates even if they meet safety and efficacy endpoints in clinical trials.", "We have a history of net losses. We expect to continue to incur substantial and increasing net losses for the foreseeable future, and we may never achieve or maintain profitability.", and "We will need substantial additional capital in the future. If additional capital is not available, we will have to delay, reduce or cease operations." Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.ALEXZA PHARMACEUTICALS, INC.(a development stage company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share amounts)

(unaudited)Three Months EndedNine Months EndedSeptember 30,September 30,2010200920102009Revenue

$
744$
-$
744$
9,514Operating expenses:Research and development

6,6549,18322,50832,153General and administrative

2,6103,82411,47411,893Restructuring charges

---2,153Acquired in-process research and development

----Total operating expenses

9,26413,00733,98246,199Loss
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SOURCE Alexza Pharmaceuticals, Inc. Copyright©2010 PR Newswire. All rights reserved

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