Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) is seeing its shareholders get nothing but coal for Christmas this year. The stock is the largest loser on the NASDAQ today with a drop of nearly 14% to $4.99. What is interesting here is that this drop is after an FDA approval of its inhalable antipsychotic drug.
The news out on Friday was that Alexza won FDA approval for ADASUVE as an inhalable powder for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults. ADASUVE combines Alexza’s proprietary Staccato delivery system with the antipsychotic drug called loxapine with the company’s hand-held inhaler that delivers a drug aerosol deep into the lungs for rapid systemic delivery and absorption of a drug.
What is interesting about the reaction here is that this is said to be the first approved non-injectable therapy for the acute treatment of agitation in adults with schizophrenia and bipolar I…
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