ARTICLE | Financial News

Alexza raises $16.1 million

May 4, 2011 12:43 AM UTC

Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) raised $16.1 million through the sale of 11.9 million units at $1.35 in a registered direct offering to RA Capital Management; Tavistock Life Sciences; and an undisclosed institutional investor. Each unit comprises a share and a five-year warrant to purchase 0.35 shares, with each whole warrant exercisable at $1.76. Alexza slipped $0.12 to $1.51 on Tuesday. ...