June 1, 2010 (FinancialWire) — Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) said that it has obtained a committed equity financing facility under which it may sell up to $25 million of its registered common stock to Azimuth Opportunity, Ltd. over a 24-month period.

Alexza said it is not obligated to utilize any of the $25 million facility and remains free to enter into and consummate other equity and debt financing transactions.  This facility replaces a similar facility that was established in March 2008 and expired after its 24-month term.  

When and if Alexza elects to use the facility, Alexza will issue shares to Azimuth at a small discount to the volume weighted average price of Alexza's common stock over a preceding period of trading days.

California-based Alexza Pharmaceuticals is a focused on the research, development and commercialization of novel, proprietary products for the acute treatment of central nervous system conditions.  

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