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Alexza's Corporate Presentation to be Webcast at the Piper Jaffray Third Annual Europe Conference

Friday, June 20, 2008 General News J E 4
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MOUNTAIN VIEW, Calif., June 19 AlexzaPharmaceuticals, Inc. (Nasdaq: ALXA) announced today that its corporatepresentation will be webcast live during the Piper Jaffray Third Annual EuropeConference on Wednesday, June 25, 2008 at 8:20 a.m. local time (3:20 a.m.Eastern Time). The presentation will be webcast from The ANdAZ Hotel inLondon.

To access the presentation via the Web, please go to the InvestorRelations tab at http://www.alexza.com or athttp://www.corporateir.net/ireye/conflobby.zhtml?ticker=ALXA&item id=1870754.A replay of the webcast will be made available approximately 24 hours afterthe live presentation and the replay will be archived for 14 days.

Alexza Pharmaceuticals is an emerging specialty pharmaceutical companyfocused on the development and commercialization of novel, proprietaryproducts for the treatment of acute and intermittent conditions. TheCompany's technology, the Staccato system, vaporizes unformulated drug to forma condensation aerosol that allows rapid systemic drug delivery through deeplung inhalation. The drug is quickly absorbed through the lungs into thebloodstream, providing speed of therapeutic onset that is comparable tointravenous administration, but with greater ease, patient comfort andconvenience.

Alexza has six product candidates in clinical development. Alexza's leadprogram, AZ-004 (Staccato loxapine) for the treatment of acute agitation inschizophrenic or bipolar disorder patients, is in Phase 3 testing and hascompleted enrollment of its first Phase 3 clinical trial. AZ-001 (Staccatoprochlorperazine) for the acute treatment of migraine headaches has completedPhase 2 testing. AZ-104 (Staccato loxapine) for the acute treatment ofmigraine headaches and AZ-002 (Staccato alprazolam) for the acute treatment ofpanic attacks associated with panic disorder are in Phase 2 testing. Productcandidates in Phase 1 testing are AZ-003 (Staccato fentanyl) for the treatmentof breakthrough pain, which is partnered with Endo Pharmaceuticals in NorthAmerica, and AZ-007 (Staccato zaleplon) for the treatment of insomnia. Moreinformation, including this and past press releases from Alexza is availableonline at http://www.alexza.com.

Safe Harbor Statement

The anticipated presentation will contain forward-looking statements thatinvolve significant risks and uncertainties. Any statement describing theCompany's expectations or beliefs is a forward-looking statement, as definedin the Private Securities Litigation Reform Act of 1995, and should beconsidered an at-risk statement. Such statements are subject to certain risksand uncertainties, particularly those inherent in the process of developingand commercializing drugs. The Company's forward-looking statements alsoinvolve assumptions that, if they prove incorrect, would cause its results todiffer materially from those expressed or implied by such forward-lookingstatements. These and other risks concerning Alexza's business are describedin additional detail in the Company's Annual Report on Form 10-K for the yearended December 31, 2007, and the Company's other Periodic and Current Reportsfiled with the Securities and Exchange Commission. Forward-looking statementscontained in this announcement are made as of this date, and the Companyundertakes no obligation to publicly update any forward-looking statement,whether as a result of new information, future events or otherwise.

SOURCE Alexza Pharmaceuticals, Inc.
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