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Alexza Reports 2011 First Quarter Financial Results and Provides Business Update
Date:5/9/2011

ed March 31, 2011 and 2010, respectively.  General and administrative expenses were $2.8 million and $5.1 million in the quarters ended March 31, 2011 and 2010, respectively.  Expenses in 2010 included a one-time, non-cash charge of $1.1 million related to Alexza entering into a sublease agreement for a portion of one of its Mountain View facilities.

In connection with the acquisition of Symphony Allegro, Inc. in August 2009, Alexza is obligated to pay the former Symphony Allegro stockholders certain percentages of cash payments that may be generated from collaboration transactions for AZ-004, AZ-002 (Staccato alprazolam) or AZ-104 (Staccato loxapine, low-dose).  The Company records this obligation as a contingent liability and updates the liability each quarter.  Alexza did not record a non-operating gain or loss during the first quarter of 2011 as compared to a non-operating loss of $0.7 million in the quarter ended March 31, 2010.  Gains and losses incurred reflect Alexza's change in the estimated probability-weighted cash flows from AZ-004 and the estimated timing of receipt of such cash flows.

Conference Call Information

To access the conference call via the Web, please go to the Investor Relations tab at www.alexza.com.  Please join the call at least 15 minutes prior to the start of the call to ensure time for any software downloads that may be required.  Interested parties may also pre-register to avoid pre-call delays at https://www.theconferencingservice.com/prereg/key.process?key=PVNFWTCCE.  A replay of the call will be available for two weeks following the event.  

To access the live conference call via phone, dial 888-713-4214.  International callers may access the live call by dialing 617-213-4866.  The reference number to enter the ca
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SOURCE Alexza Pharmaceuticals, Inc.
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