Faintly rewarded

Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) did a round trip following Wednesday's announcement granting Biovail Corp. (TSX:BVF; NYSE:BVF) exclusive rights in the U.S. and Canada to develop and commercialize Staccato loxapine (AZ-004). At its low point during the day, the stock was off $0.37 to $2.30, shaving $19.1 million of the biotech's market cap to $118.7 million.

By week's end, Alexza had added $6.7 million to hit a market cap of $144.5 million...