What Alexza Pharmaceuticals does

Alexza Pharmaceuticals was a US-domiciled specialty pharmaceutical company founded in 2000 and headquartered in Mountain View, California, that developed and commercialized therapeutics built on its proprietary Staccato One Breath Technology — an inhalation drug delivery platform that vaporizes drug compounds for rapid systemic delivery via a single patient breath. The company's commercial product, Adasuve (loxapine), used this platform for acute agitation, while its lead pipeline asset, Staccato alprazolam, was in Phase 3 clinical trials under a global licensing and manufacturing supply agreement with UCB carrying potential milestones up to US$60.5 million plus tiered royalties on global net sales. Two additional Phase 2 CNS pipeline assets targeting Parkinson's disease and Cyclic Vomiting Syndrome were also associated with the platform.

The business model was structured around licensing and milestone-based revenue rather than direct large-scale commercialization, with economic value tied to platform reuse across multiple drug candidates and to a single dominant licensing counterparty (UCB). The company was previously listed on NASDAQ under ticker ALXA, was subsequently delisted, and in December 2025 was acquired by Hong Kong-listed Lee's Pharmaceutical Holdings Limited through its wholly owned subsidiary Nova Pneuma Inc. — a transaction that transferred the Staccato platform, related intellectual property and trademarks, the UCB agreement rights, and the Phase 2 CNS pipeline assets. Following the acquisition, the entity was rebranded as Nova Pneuma, Inc., and the company website now redirects to novapneuma.com, indicating Alexza no longer operates as an independent company.

Name

Alexza Pharmaceuticals

Legal name

Alexza Pharmaceuticals, Inc.

Website

https://alexza.com

Company type

Private

Founded year

2000

Operating status

Acquired

Headcount range

51–100 employees

Short description

Alexza Pharmaceuticals was a US specialty pharmaceutical company that developed the Staccato One Breath Technology inhalation drug delivery platform, commercialized Adasuve (loxapine), and advanced Staccato alprazolam in Phase 3 under a UCB licensing agreement, before being acquired by Lee's Pharmaceutical Holdings in December 2025 and rebranded as Nova Pneuma, Inc.

Ownership category

akta.pro rank

Product category

Specialty CNS Pharmaceuticals — Inhalation Drug Delivery

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Pharmaceutical and Medicine Manufacturing (32541), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

akta.pro primary industry

Nebulizers & Aerosol Drug Delivery Systems (HLAHAIAJ)

akta.pro secondary industries

Inhalers (MDI/DPI/SMI) (HLAHAIAI), Inhalation & Nebulization Devices (Nebulizers, Spacers, Inhaler Accessories) (HLAHAGAE), Respiratory & Allergy Pharmaceuticals (HLAIAAAH), Pulmonology & Allergy Specialty Pharmaceuticals (HLAIACAF)

Keywords

• Inhalation drug delivery
• Pharmaceutical manufacturing
• CNS therapeutics
• Condensation aerosol technology
• Specialty pharmaceuticals

Headquarters

HQ city

Mountain View

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Operations, Others

Revenue model

1. Licensing and milestone payments: Following the acquisition by Lee's Pharmaceutical Holdings, Alexza's legacy assets generate revenue through milestone payments up to US$60.5 million plus tiered royalties on global net sales of Staccato alprazolam under the global licensing and manufacturing supply agreement with UCB.

Core offering

Alexza Pharmaceuticals develops and commercializes pharmaceuticals using its proprietary Staccato One Breath Technology, a handheld, single-dose, breath-actuated inhaler that delivers drug as a condensation aerosol for rapid systemic absorption via the lungs. Its only FDA-approved commercial product is Adasuve (inhaled loxapine) for acute agitation in adults with schizophrenia or bipolar I disorder, with pipeline candidate Staccato alprazolam in development for acute panic disorder and epileptic seizures.

Product overview

Alexza Pharmaceuticals (now Nova Pneuma, Inc.) developed the Staccato One Breath Technology platform, an inhalation drug delivery system that vaporizes drug compounds for rapid systemic delivery through a single breath. The company commercialized Adasuve using this technology and advanced Staccato alprazolam through Phase 3 clinical trials. The technology platform and associated assets were acquired by Lee's Pharmaceutical Holdings Limited in December 2025, which also assumed rights under the UCB global licensing and manufacturing supply agreement.

Differentiator

Problem solved

Functional benefit

Brands

• Staccato One Breath Technology: Inhalation drug delivery technology platform acquired by Lee's Pharmaceutical Holdings Limited.
• Adasuve

Products and services

• Adasuve (inhaled loxapine) FDA-approved commercial product delivering loxapine via Alexza's Staccato One Breath Technology inhaler. Indicated for acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults, providing rapid onset non-injectable therapy for use in hospital, emergency department, and psychiatric care settings.
• Staccato alprazolam (AZ-002) Late-stage pipeline candidate applying the Staccato platform to deliver alprazolam for acute treatment of panic disorder and epileptic seizures; developed in collaboration with UCB through an NDA filed for the panic disorder indication.
• Staccato zaleplon Pipeline candidate formulated with Staccato delivery for rapid-onset sleep induction; received orphan drug designation from the FDA for the treatment of fragile X-associated tremor/ataxia syndrome.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• UCBcoreStrategic or Co-development Partner · 10 December 2025Alexza held global licensing and manufacturing supply agreement with UCB for Staccato alprazolam, which is currently in Phase 3 clinical trials. Under this agreement, Lee's Pharm and NPI may receive milestone payments up to US$60.5 million plus tiered royalties on global net sales of Staccato alprazolam. This partnership transferred to Nova Pneuma Inc. following the acquisition.
• Lee's Pharmaceutical Holdings Limited / Nova Pneuma Inc.coreStrategic or Co-development Partner · 10 December 2025Lee's Pharmaceutical Holdings Limited, through its wholly owned subsidiary Nova Pneuma Inc., acquired the Staccato One Breath Technology platform and all related assets from Alexza Pharmaceuticals. This includes full ownership of technology including intellectual property, know-how, and trademarks, as well as two Phase 2 CNS pipeline assets targeting Parkinson's disease and Cyclic Vomiting Syndrome.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Emerging players

• Coda Devices (acquired by Coda Biotherapeutics/now Silo Pharma): Coda Biotherapeutics developed an inhaled gene therapy delivery platform targeting CNS and other conditions via single-dose AAV delivery. Comparable as a specialty drug-delivery platform company pursuing novel inhaled routes of administration for CNS indications.
• Dance Biopharm: Dance Biopharm developed a soft-mist inhaled insulin delivery platform (Dance 501) targeting diabetes. Comparable as a specialty inhalation platform company developing biologic/small-molecule delivery through proprietary aerosol technology.
• Respira Therapeutics: Respira Therapeutics is developing inhaled therapeutics for serious pulmonary and respiratory diseases including PAH and IPF. Comparable as an emerging specialty inhaled pharma targeting respiratory indications with novel formulation approaches.
• Avalyn Pharma: Avalyn Pharma develops inhaled therapies for serious pulmonary diseases including IPF using a reformulated inhaled delivery approach. Comparable as an emerging inhaled specialty pharma targeting underserved pulmonary indications through reformulation of existing drugs.
• Pulmatrix: Pulmatrix is developing inhaled therapies using its iSPERSE dry powder technology for respiratory diseases. Comparable as an emerging inhalation drug delivery platform focused on pulmonary indications, with similar technology-platform business model.

Direct peers

• MannKind Corporation: MannKind developed the Afrezza inhaled insulin product using its Technosphere inhalation platform. Comparable as a specialty pharma built around a proprietary inhaled drug delivery technology with commercialized and pipeline assets.
• Aradigm Corporation: Aradigm developed the AERx pulmonary drug delivery system for liposomal inhaled therapeutics including treatments for cystic fibrosis and pulmonary infections. Directly comparable as an aerosol/inhalation drug delivery platform company addressing respiratory and specialty indications.
• Civitas Therapeutics: Civitas developed inhaled drug therapies (notably an inhaled levodopa for Parkinson's OFF episodes) using ARCUS inhalation technology before being acquired by Acorda. Directly comparable as an inhalation drug delivery company targeting CNS conditions with a single-breath platform.

Broad incumbents

• Aerogen: Aerogen is a global leader in acute-care aerosol drug delivery, supplying hospital nebulizer technology used for ventilated patients. Comparable as a specialized inhalation/nebulization device company with established acute-care clinical adoption.
• Vectura Group: Vectura is a UK-listed inhalation drug delivery specialist with a broad portfolio of DPI and nebulizer-based products, including licensed products for respiratory conditions. Comparable as a larger, established inhalation platform player with multiple commercial assets and partnerships.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/159424400756352
• LinkedInlinkedin.com/company/alexza-pharmaceuticals

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds8 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alexza Pharmaceuticals