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Alexza Reports 2010 Fourth Quarter and Full Year Financial Results and Provides General Corporate Update
Date:3/15/2011

t approve our product candidates even if they meet safety and efficacy endpoints in clinical trials." 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 EndedTwelve Months EndedDecember 31,December 31,2010200920102009Revenue

$  42,132$
-$  42,876$
9,514Operating expenses:Research and development

11,0207,62533,52839,778General and administrative

2,5263,51314,00015,406Restructuring charges

-(116)-2,037Total operating expenses

13,54611,02247,52857,221Income (loss) from operations

28,586(11,022)(4,652)(47,707)Gain (loss) on change in fair value of contingent consideration liability

(2,500)(8,656)4,838(7,983)Interest and other income/ (expense), net

(63)-(35)92Interest expense

(608)(89)(1,632)(467)Net income (loss)

25,415(19,767)(1,481)(56,065)Consideration paid in excess of  noncontrolling interest

---(61,566)Net loss attributed to noncontrolling interest in Symphony Allegro, Inc.

---13,987Net loss attributable to Alexza common stockholders

$  25,415$(19,767)$ (1,481)$(103,644)Basic net income (loss) per share attributable to Alexza common stockholders

$
.43$
(0.39)$
(0.03)$
(2.68)Diluted net income (loss) per share attributable to Alexza common stockholders

$
.42$
(0.39)$
(0.03)$
(2.68)ALEXZA PHARMACEUTICALS, INC.(a development stage company)

CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)

(unaudited)December 31, December 31,20102009AssetsCash, cash equivalents and marketable securities

$
41,449$
9,916Other
'/>"/>

SOURCE Alexza Pharmaceuticals, Inc.
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