Navigation Links
Alexza Prices $16.1 Million Registered Direct Offering
Date:5/3/2011

MOUNTAIN VIEW, Calif., May 3, 2011 /PRNewswire/ -- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA), or the Company, today announced that it has entered into a definitive agreement with three institutional investors, including RA Capital Management and Tavistock Life Sciences, to raise approximately $16.1 million in gross proceeds in a registered direct offering through the sale of common stock and warrants.  The Company agreed to sell a total of 11,927,034 units, each unit consisting of (i) one share of common stock and (ii) one warrant to purchase 0.35 of a share of common stock, at a purchase price of $1.35 per unit.  The warrants will be exercisable six months after issuance at $1.755 per share and will expire five years from the date of issuance.  The shares of common stock and warrants are immediately separable and will be issued separately.  

Alexza estimates that net proceeds from the offering will be approximately $15.8 million, after deducting estimated offering expenses.  The Company intends to use the net proceeds from the sale of the securities primarily for general corporate purposes, including regulatory activity, clinical trial, research and development, general and administrative and manufacturing expenses.  

The securities described above are being offered pursuant to a registration statement on Form S3 previously declared effective by the Securities and Exchange Commission on May 20, 2010. The transaction is expected to close on or about May 6, 2011, subject to customary closing conditions.

A copy of the prospectus supplement relating to the offering and the accompanying base prospectus may be obtained by contacting Alexza Pharmaceuticals, Inc., Attention:  Corporate Secretary, 2091 Stierlin Court, Mountain View, California 94043, or by calling (650) 944-7000.  A copy of the prospectus supplement relating to the offering and the accompanying base prospectus may also be accessed on the SEC website, http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Alexza nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.

About Alexza Pharmaceuticals, Inc.

Alexza Pharmaceuticals is a pharmaceutical company focused on the research, development and commercialization of novel, proprietary products for the acute treatment of central nervous system conditions.  Alexza's technology, the Staccato® system, vaporizes unformulated drug to form a condensation aerosol that, when inhaled, allows for rapid systemic drug delivery through deep lung inhalation.  The drug is quickly absorbed through the lungs into the bloodstream, providing speed of therapeutic onset that is comparable to intravenous administration, but with greater ease, patient comfort and convenience.  (Click here to see an animation of how the Staccato system works.)

AZ-004 (Staccato loxapine) is Alexza's lead program, which is being developed for the rapid treatment of agitation in schizophrenic or bipolar disorder patients.  Alexza has completed and announced positive results from both of its AZ-004 Phase 3 clinical trials, and submitted a New Drug Application, or NDA, for AZ-004 in December 2009.  In October 2010, the Company received a Complete Response Letter, or CRL, from the U.S. Food and Drug Administration, or FDA, regarding its NDA for AZ-004.  A CRL is issued by the FDA's Center for Drug Evaluation and Research indicating that the NDA review cycle is complete and that the application is not ready for approval in its present form.  The Company completed an end-of-review meeting with the FDA in late December 2010.  In January 2011, Alexza received the official FDA minutes of the meeting, and the Company anticipates resubmitting the AZ-004 NDA in July 2011.  Alexza is seeking commercial partners for the worldwide development and commercialization of AZ-004.

For more information about Alexza, the Staccato technology or Alexza's development programs, please visit www.alexza.com.

Safe Harbor Statement

This news release contains forward-looking statements that involve significant risks and uncertainties. Any statement describing the Company's intent, 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, and the risk that the financing may be delayed or may not occur due to market or other conditions and the satisfaction of customary closing conditions related to the proposed public offering. 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 and this offering are described in additional detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, the Company's other Periodic and Current Reports filed with the Securities and Exchange Commission and the prospectus supplement related to this offering. 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.


'/>"/>
SOURCE Alexza Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Alexza Reports 2010 Fourth Quarter and Full Year Financial Results and Provides General Corporate Update
2. Alexza to Announce 2010 Year-End Financial Results on Tuesday, March 15, 2011
3. Alexza Pharmaceuticals Completes End-of-Review Meeting With FDA for AZ-004 (Staccato® Loxapine) NDA
4. Alexza Pharmaceuticals Provides Regulatory Update for AZ-004 (Staccato® Loxapine)
5. Alexza Pharmaceuticals Reports 2010 Third Quarter Financial Results and Provides Business Update
6. Alexza Pharmaceuticals to Announce 2010 Third Quarter Financial Results on November 9, 2010
7. Alexza Pharmaceuticals Reacquires U.S. and Canadian Rights for AZ-004 (Staccato® Loxapine)
8. Valeant Pharmaceuticals Announces That Alexza Pharmaceuticals Has Received a Complete Response Letter for AZ-004 (Staccato® Loxapine) Inhalation Aerosol NDA
9. Alexza Pharmaceuticals Receives Complete Response Letter for AZ-004 (Staccato® Loxapine) NDA
10. Alexzas Staccato® Nicotine Licensed to Cypress Bioscience
11. Alexza Pharmaceuticals to Present at Bank of America Merrill Lynch 2010 Specialty Pharmaceuticals Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/28/2017)... , Sept. 28, 2017 Cohen Veterans ... advance the use of wearable and home sensors for ... disorders. Early Signal Foundation, a nonprofit organization focused on ... will provide an affordable analytical system to record and ... ...
(Date:9/25/2017)... 2017   Montrium , an industry leader ... the IQPC Trial Master Files & Inspection Readiness ... EastHORN Clinical Services has selected eTMF Connect ... management. EastHORN, a leading European contract research organization ... transparency to enable greater collaboration with sponsors, improve ...
(Date:9/22/2017)... Sept. 22, 2017  As the latest Obamacare repeal ... Bill Cassidy (R-LA) and Lindsey Graham ... the medical device industry is in an odd place. ... the 2.3% excise tax on medical device sales passed ... want covered patients, increased visits and hospital customers with ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... will be giving viewers the lowdown on sciatica in a new episode of ... that focuses on current events and innovation and investigates each subject in-depth with ...
(Date:10/13/2017)... ... 2017 , ... “The Journey: From the Mountains to the Mission Field”: the ... in the Philippines. “The Journey: From the Mountains to the Mission Field” is the ... She has taught all ages and currently teaches a class of ladies at her ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), ... will showcase a range of technology and learning solutions at the 68th Annual ... Expo to be held October 14–18, 2017 at the Mandalay Bay Resort in ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of ... announced today its plans to open a flagship location in Covington, LA at 401 ... Rooms To Go store next to Office Depot in the Holiday Square shopping center. ...
Breaking Medicine News(10 mins):