Alexza Pharmaceuticals Inc fka ALXA

[Talc Moan]

On the downside, Alexza Pharmaceuticals Inc. /quotes/comstock/15*!alxa/quotes/nls/alxa (ALXA 1.38, -0.05, -3.39%) shares tumbled 16% to $1.40.

Alexza said that it has been informed by U.S. regulators that its application for the compound AZ-004 cannot be approved in its current form. The Mountain View, Calif., company said it plans to resubmit the application in July 2011.

Alexza is seeking to have AZ-004 approved as a rapid treatment for agitation in patients with bipolar disorder or schizophrenia.