Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) Investor Alert: Investigation over Potential Violations of Securities Laws
An investigation on behalf of investors of NASDAQ:ALXA shares over possible securities laws violations by Alexza Pharmaceuticals, Inc. was announced and NASDAQ:ALXA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 05/09/2012 --An investigation on behalf of investors in Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) shares over potential securities laws violations by certain officers and directors at Alexza Pharmaceuticals, Inc. in connection with certain financial statements was announced.
Investors who purchased shares of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about Alexza Pharmaceuticals’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) reported that its annual revenue spiked in 2010 at $42.88million but then fell in 2011 to $5.66million.
Shares of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) fell from over $3 in September 2010 to under $1 in December 2010 and then regained some value and traded in mid-2011 at slightly above $1.80 per share.
In December 2011 the U.S. Food and Drug Administration Psychopharmacologic Drugs Advisory Committee recommended the approval Of Alexza Pharmaceuticals, Inc.'s ADASUVE.
Shortly after the announcement it was reported that Alexza Pharmaceuticals, Inc explored options including sale of assets, strategic business combination, or partnerships.
Then on May 4, 2012, Alexza Pharmaceuticals, Inc. said it received a complete response letter from the U.S. Food & Drug Administration. Alexza Pharmaceuticals, Inc. said the FDA denied approval for its new drug application for Adasuve citing manufacturing deficiencies. A field investigator found deficiencies during a recent inspection of the company's Mountain View, Calif. manufacturing facility
Shares of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) fell from $0.73 on May 3, 2012 to as low as $0.39 per share during Friday, May 4, 2012.
On May 8, 2012, NASDAQ:ALXA stocks closed at $0.431 per share.
Those who purchased shares of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Media Relations Contact
Media and Client Relations Manager
Shareholders Foundation, Inc.
View this press release online at: http://rwire.com/141406