FLIGHT SCHOOL

[bagheera]

ALXA had news ah last night,,but it is also diluted 22m previous share offering..so becareful (COMTEX) B: Alexza and Grupo Ferrer Amend Adasuve(TM) Partnership ( PR New
B: Alexza and Grupo Ferrer Amend Adasuve(TM) Partnership ( PR Newswire )

MOUNTAIN VIEW, Calif. and BARCELONA, Spain, March 7, 2012 /PRNewswire via
COMTEX/ --
Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) and Grupo Ferrer Internacional,
S.A. (Ferrer), announced today that they have amended their commercial
partnership agreement for Adasuve(TM) (Staccato® loxapine). In October 2011,
Alexza and Ferrer established a partnership for the commercialization of
ADASUVE in Europe, Latin America, Russia and the Commonwealth of Independent
States countries. With this amendment, Ferrer will expand its strategic
partnership by becoming an Alexza stockholder. Ferrer and Alexza have agreed
to eliminate a future potential milestone payment in exchange for the
purchase of Alexza common stock. Ferrer will purchase approximately 2.42
million shares of Alexza common stock for $1.24 per share. During 2012, up
to an additional $8 million of Alexza common stock may be purchased by
Ferrer, upon a request by Alexza and subject to acceptance by Ferrer, in
exchange for the elimination of additional milestones at a price per share
that will be a premium to the market price on the date of purchase.

Alexza and Ferrer also announced Ferrer's intent to submit product
registrations for ADASUVE in Brazil and Mexico. These two Latin American
registrations submissions represent Ferrer's first two non-European Union
ADASUVE regulatory filings.

"We welcome the opportunity to expand our partnership with Alexza," said
Antoni Villaro, Chief Operating Officer of Grupo Ferrer. "ADASUVE fits
perfectly into our specialty pharmaceutical portfolio. If approved for
marketing, we believe that the unique therapeutic benefits ADASUVE provides
will capture physicians' and patients' interest, and establish it as an
important new tool in the treatment of agitation."

"We are very pleased with the strengthening of our strategic partnership and
alliance with Grupo Ferrer," said Thomas B. King, Alexza's President and CEO.
"In the first four months of our partnership, teams from both companies have
worked to expand the integration of the ADASUVE work, strategies and
responsibilities. We share great passion for the product and a strong sense
of camaraderie toward building long-term success."

King continued, "We are also excited to support Ferrer's upcoming
submissions of the ADASUVE registrations for Brazil and Mexico. We feel
these filings demonstrate Ferrer's commitment to ADASUVE as they work to
bring this important product to patients."

About ADASUVE (Staccato loxapine)ADASUVE is an anti-agitation therapeutic
that combines Alexza's proprietary Staccato system with loxapine, an
antipsychotic drug. Loxapine is currently available in oral and other
formulations, inside and outside of the U.S. and European Union. The
Staccato system is a hand-held, single-dose inhaler that delivers a drug
aerosol to the deep lung that results in IV-like pharmacokinetics and rapid
systemic effects. Click here to see an animation of how the Staccato system
works.

As an easy-to-use, non-coercive and highly reliable inhaled therapeutic that