Inhaled drug developer Alexza Pharmaceuticals has hired a financial advisor “to assist in exploring strategic options to enhance stockholder value,” the company said. Options being explored include selling corporate assets, a strategic business combination, or a partnership.
Earlier this year, Alexza announced that it would suspend manufacturing of Adasuve inhaled loxapine for its partners Teva and Ferrer in order to reduce its costs. The company’s pipeline includes inhaled alprazolam, zaleplon, and fentanyl.
Alexza President and CEO Thomas B. King commented, “We continue to see long-term opportunities for our Staccato inhaled drug technology, especially in light of the positive responses from physicians and patients who have used our lead product, Adasuve. Our board is focused on evaluating additional options that may enhance or accelerate the value that we believe is inherent in an approved technology-platform product, which has been successfully screened for numerous drugs as a novel delivery method that enables pharmacokinetics similar to intravenous administration. Given this strength of our Staccato technology, we believe now is the appropriate time to explore strategic alternatives.”
Read the Alexza Pharmaceuticals press release.
