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Biotech / Medical : Alexza(ALXA)-No Pain! Big Gain!!!!! -- Ignore unavailable to you. Want to Upgrade?

To: MattoRuu who wrote (18)	8/5/2010 3:22:25 PM
From: tuck	Respond to of 26

Well, since the FDA is taking its time, ALXA has to raise more funds: >>Alexza Prices $18.0 Million Registered Direct Offering Press Release Source: Alexza Pharmaceuticals, Inc. On Thursday August 5, 2010, 6:30 am EDT MOUNTAIN VIEW, Calif., Aug. 5 /PRNewswire-FirstCall/ -- Alexza Pharmaceuticals, Inc. (Nasdaq:ALXA - News) today announced that it has entered into definitive agreements with a select group of institutional investors to raise approximately $18.0 million in gross proceeds in a registered direct offering through the sale of common stock and warrants. The Company agreed to sell a total of 6,685,183 units, each unit consisting of (i) one share of common stock and (ii) one warrant to purchase 0.5 of a share of common stock, at a purchase price of $2.70 per unit. The warrants will be exercisable six months after issuance at $3.30 per share and will expire five years from the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately. Alexza estimates that net proceeds from the offering will be approximately $16.4 million, after deducting placement agents' commissions and estimated offering expenses. The Company intends to use the net proceeds from the sale of the securities primarily for general corporate purposes, including clinical trial, research and development, general and administrative and manufacturing expenses. RBC Capital Markets Corporation is acting as the sole lead placement agent and JMP Securities LLC is acting as co-agent in this offering. The securities described above are being offered pursuant to a registration statement on Form S3 previously declared effective by the Securities and Exchange Commission on May 20, 2010. The transaction is expected to close on or about August 10, 2010, subject to customary closing conditions. A copy of the prospectus supplement relating to the offering and the accompanying base prospectus may be obtained by contacting RBC Capital Markets at 3 World Financial Center, 8th Floor, 200 Vesey Street, New York, NY 10281, Attention: Equity Syndicate, or by calling (212) 428-6670, or JMP Securities, 600 Montgomery Street, Suite 1100, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8900. A copy of the prospectus supplement relating to the offering and the accompanying base prospectus may also be accessed on the SEC website, sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Alexza nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.<< snip This is not the worst deal I've seen, and I think the stock is being overly punished. Not saying I'm buying, but going to look harder. Cheers, Tuck