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Alexza Reports 2012 Fourth Quarter and Full Year Financial Results
Date:3/26/2013

the fourth quarter of 2012 that were not incurred in 2011, the result of meeting certain corporate goals related to the ADASUVE marketing approvals, as specified in the Company's bonus plans.

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 ADASUVE, 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 recorded a non-operating gain of $0.9 million and $1.9 million during the quarter and year ended December 31, 2012, respectively, compared to a non-operating loss of $0.7 million and $4.0 million in the same periods in 2011.  Gains and losses incurred reflect Alexza's change in the estimated probability-weighted cash flows from ADASUVE, AZ-002 and AZ-104 and the estimated timing of receipt of such cash flows.

Alexza believes that based on its cash, cash equivalents, marketable securities and restricted cash balance at December 31, 2012 and the Company's expected cash usage, the Company has sufficient capital resources to meet its anticipated cash needs, at its current cost levels, into the second quarter of 2013.

Conference Call Information - 5:00 p.m. Eastern Time on March 26, 2013

To access the conference call via the Internet, go to www.alexza.com, under the "Investor Relations" link.  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= PV9FTPNLQ.'/>"/>

SOURCE Alexza Pharmaceuticals, Inc.
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