Alexza Pharmaceuticals has announced that it has issued 80,429 shares of common stock to Azimuth Opportunity as the two companies have reached an agreement for a committed equity financing facility under which Alexza has the option to sell Azimuth up to $20 million of its registered common stock over 2 years. The two companies entered a similar agreement in May 2010 that expired without the issuance of any shares.
Alexza President and CEO Thomas B. King commented, “This flexible financing facility is an important component of our portfolio of financing options, giving us the potential ability to raise capital efficiently by potentially issuing shares in multiple tranches at times of our choosing over the next 24 months. We believe this facility benefits Alexza and our stockholders, as we continue to plan our transition from a development stage company into the commercialization of Adasuve Staccato loxapine.”
Alexza recently submitted answers to the EMA’s Day 120 List of Questions for Adasuve, and it resubmitted its NDA for the product to the FDA in June 2012.
Read the Alexza press release.
