Alexza Reports 2007 Year-End Financial Results and Updates Clinical Pipel...( MOUNTAIN VIEW Calif. March 17 /- ...),Health

MOUNTAIN VIEW, Calif., March 17 /PRNewswire-FirstCall/ -- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) reported today financial results for its fourth quarter and year ended December 31, 2007, and provided an update on the Company's progress with its six clinical-stage development programs.

"During 2007 and the first quarter of 2008, we moved all of our clinical programs forward. This year is an important transitional year for Alexza, as we initiate the Phase 3 clinical trials of our lead program, AZ-004 (Staccato(R) loxapine)," said Thomas B. King, Alexza President and CEO. "In addition, we are beginning the initial AZ-004 commercial planning for manufacturing, regulatory submissions, and potential sales and marketing. It is also important to note that we have five additional product candidates in various stages of clinical development in four different therapeutic areas. With our own programs, and with our partnerships with Endo Pharmaceuticals and Symphony Allegro, we look forward to solid progress in these development programs during 2008."

Product Candidate Development and Corporate Goals Update

-- AZ-004 (Staccato loxapine) is initially being developed for the treatment of acute agitation in patients with schizophrenia or bipolar disorder. In February 2008, the Company initiated a Phase 3 clinical trial that is designed to enroll approximately 300 schizophrenic patients with acute agitation at 25 U.S. clinical centers. The trial is an in-clinic, multi- center, randomized, double-blind, placebo-controlled study and will test AZ- 004 at two dose levels (5 and 10 mg). Patients may receive up to 3 doses of study drug in a 24-hour period, depending on their clinical status. The primary endpoint for the study is the re
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