Alexza reiterated at market outperform by JMP

JMP Securities analyst Charles C. Duncan reiterated Alexza Pharmaceuticals, Inc. at market outperform on news of the company's uneventful second-quarter results. Revenues were better than expected at $539,000 compared to the analyst's and the Street's estimates of $300,000. Net loss per share of $0.45 was slightly above JMP's estimate. During the quarter, the phase 2b AZ-001 (Staccato prochlorperazine) study in migraine began in line with expectations, according to the analyst. Shares of the Palo Alto, Calif.-based development-stage company were up 35 cents, or 5.69%, at $6.51, on volume of 8,034 shares versus the three-month running average of 69,700 shares. (Nasdaq: ALXA)

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