BioCentury
ARTICLE | Financial News

Alexza raises $10 million

March 27, 2008 12:19 AM UTC

Alexza (NASDAQ:ALXA) raised $10 million in a registered direct offering of 1.3 million shares to BioOne Capital at $8. The price is a 16% premium to Alexza's close of $6.92 on Wednesday. The shares were sold from an existing shelf registration. Alexza said the investment is being made in conjunction with the formation of a subsidiary in Singapore, where the company plans to begin manufacturing operations for components of its single-dose Staccato system inhaler. The device is used in many of Alexza's products, including lead candidate Staccato loxapine ( AZ-004), which is in Phase III testing to treat acute agitation in patients with schizophrenia or bipolar disorder. ...