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Alexza Pharmaceuticals' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ALXA

Alexza ended the second quarter with cash, cash equivalents, marketable securities and restricted cash of $26.4 million. We believe that with our current cash, cash equivalents, marketable securities and restricted cash and our current expected cash usage, we have sufficient capital resources to meet our anticipated cash needs into the fourth quarter of 2012. Changing circumstances may cause us to consume capital significantly faster or slower than currently anticipated or to alter our operations.

I will now turn the call to Tom King, Alexza’s President and CEO, for a business update and concluding remarks.

Thomas B. King

Thanks, Mark. Good afternoon and thanks to all of you for joining our teleconference today. Alexza has been very busy during the past three months since our last update in May and we have accomplished much with our ADASUVE NDA and MAA. I’m going to start with a general business update. Following this update, I’ll have short concluding remarks, and then we’ll open up the conference call for Q&A.

Since our last update, we have accomplished the following: In May, we received a CRL from the FDA regarding our ADASUVE NDA. In this CRL, the FDA noted, “During a recent inspection of the Mountain View, California manufacturing facility for this application, our field investigator conveyed deficiencies to the representatives of the facility. Satisfactory resolution of these deficiencies is required before this application may be approved,” Alexza believed at that time that these deficiencies were medical device specific and readily addressable.

Read the rest of this transcript for free on seekingalpha.com

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