Alexza restructures, ends deal with Endo
Alexza (NASDAQ:ALXA) reduced headcount by 52 (33%) to about 104 and mutually terminated a deal with Endo (NASDAQ:ENDP) to develop Staccato fentanyl ( AZ-003) to treat breakthrough pain. All rights for the inhaled formulation of fentanyl will be returned to Alexza, which said it would not commit additional resources to the program in 2009. The product has completed Phase I testing.
Alexza will focus its resources on lead candidate Staccato loxapine ( AZ-004), for which the company plans to submit an NDA in early 2010 to treat acute agitation in patients with schizophrenia or bipolar disorder. The product, which is loxapine delivered by Alexza's Staccato system inhaler, is being developed through Symphony Allegro, a partnership formed by Alexza and Symphony Capital. ...