Exhibit 99.1

 

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NEWS RELEASE - for immediate release

Alexza Reports 2014 Third Quarter Financial Results

Management to Review Results and Provide Business Update

in Conference Call Scheduled Today at 5:00 p.m. Eastern Time

Mountain View, California, November 5, 2014

- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) today reported financial results for the quarter ended September 30, 2014. The net loss for the third quarter was $13.3 million compared to $12.4 million during the same quarter in 2013. The net loss for the nine months ended September 30, 2014 and 2013 was $30.0 million and $33.9 million, respectively. At September 30, 2014, Alexza had consolidated cash, cash equivalents, marketable securities, and restricted cash of $39.0 million.

“During the third quarter, we continued to see an increase in the number of hospitals which are ordering ADASUVE and increasing ADASUVE usage,” said Thomas B. King, President and CEO of Alexza. “The ADASUVE U.S. launch is about one year behind the EU launch and as such, we are beginning to see what we believe are similar early trends in the U.S. launch to those we observed with the EU launch.”

King continued, “In October, we expanded our relationship with Ferrer. Ferrer made a strategic investment in Alexza with the purchase of $8.0 million of Alexza common stock at a premium, and we completed a modification of our agreement with the elimination of certain potential future milestone payments. Ferrer is now our largest shareholder. Ferrer informed us that one of the important factors in Ferrer’s investment decision was their belief in ADASUVE and the benefits of this novel therapy.”

Alexza Recent Updates Include:

 

    Ferrer and Alexza recently received approvals for ADASUVE in Chile, Costa Rica, and Guatemala. These initial Latin American approvals are important in that they represent the first regulatory approvals completed by Ferrer, as part of the responsibility to register ADASUVE in Ferrer’s territories outside of the EU. Ferrer is Alexza’s commercial partner for ADASUVE in the EU, Latin America, and the Commonwealth of Independent States countries.

 

    During the third quarter, Alexza shipped 39,257 total units of ADASUVE, including 32,278 units to Teva and 6,979 units to Ferrer. This compares to total units of 27,828, with 23,031 units to Teva and 4,797 units to Ferrer in the second quarter of 2014. As of the end of the third quarter of 2014, Alexza has shipped 60,847 units to Ferrer (representing six different language-based stock keeping units) and 83,404 units to Teva. Alexza believes that the initial product stocking of ADASUVE has been completed in the U.S. and the EU.

 

    ADASUVE is now available in nine EU countries, and is stocked in more than 260 EU hospitals. Ferrer expects to continue the roll-out of ADASUVE in additional EU and non-EU countries throughout 2014 and 2015.


The following information was filed by Alexza Pharmaceuticals Inc. (ALXA) on Wednesday, November 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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