Alexza Pharmaceuticals (ALXA) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	ALXA
Entity Registrant Name	Alexza Pharmaceuticals Inc.
Entity Central Index Key	1,344,413
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		19,569,729

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	[1]
Current assets:
Cash and cash equivalents	$ 11,287	$ 15,200
Marketable securities	0	19,574
Receivables	822	173
Inventory	103	3,729
Prepaid expenses and other current assets	1,212	3,109
Total current assets	13,424	41,785
Property and equipment, net	10,301	13,953
Restricted cash	0	2,757
Other assets	2,497	3,065
Total assets	26,222	61,560
Current liabilities:
Accounts payable	905	1,799
Accrued clinical trial expenses	134	875
Current portion of debt	2,914	0
Other accrued expenses	5,712	4,693
Current portion of contingent consideration liability	800	1,700
Current portion of deferred revenue	2,848	2,450
Total current liabilities	13,313	11,517
Deferred rent	3,759	4,781
Noncurrent portion of contingent consideration liability	10,900	29,100
Noncurrent portion of deferred revenues	712	3,063
Noncurrent portion of financing obligations	64,774	63,767
Other noncurrent liabilities	1,613	985
Stockholders' deficit:
Preferred stock	0	0
Common stock	2	2
Additional paid-in-capital	360,401	359,308
Accumulated other comprehensive income	0	(3)
Accumulated deficit	(429,252)	(410,960)
Total stockholders' deficit	(68,849)	(51,653)
Total liabilities and stockholders' equity	$ 26,222	$ 61,560
[1]	The condensed consolidated balance sheet at December 31, 2014 has been derived from audited consolidated financial statements at that date.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Collaboration revenue	$ 712	$ 364	$ 1,959	$ 2,461
Product sales	1,061	93	2,394	1,646
Total revenue	1,773	457	4,353	4,107
Operating expenses:
Cost of goods sold	3,675	3,279	13,954	11,973
Research and development	2,463	3,391	10,048	10,553
General and administrative	3,232	3,827	10,392	11,773
Total operating expenses	9,370	10,497	34,394	34,299
Loss from operations	(7,597)	(10,040)	(30,041)	(30,192)
(Loss)/gain on change in fair value of contingent consideration liability	4,200	(1,100)	18,232	5,349
Interest and other income/ (expense), net	(72)	14	(87)	22
Interest expense	(1,969)	(2,202)	(6,396)	(5,204)
Net loss	$ (5,438)	$ (13,328)	$ (18,292)	$ (30,025)
Basic and diluted net loss per share	$ (0.27)	$ (0.77)	$ (0.93)	$ (1.73)
Shares used to compute basic and diluted net loss per share	19,778	17,371	19,768	17,328
Other Comprehensive Loss
Change in unrealized gain/(loss) on marketable securities	$ (3)	$ (3)	$ 0	$ (2)
Comprehensive loss	$ (5,441)	$ (13,331)	$ (18,292)	$ (30,027)

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (18,292,000)		$ (30,025,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	918,000		2,196,000
Change in fair value of contingent consideration liability	(18,232,000)		(5,349,000)
Amortization of debt discount, deferred interest and right-to-borrow asset	1,635,000		1,624,000
Amortization of discount on available-for-sale securities	81,000		106,000
Depreciation and amortization	2,314,000		2,516,000
Impairment of property and equipment	1,381,000		0
Changes in operating assets and liabilities:
Receivables	(649,000)		(879,000)
Inventory	3,626,000		(967,000)
Prepaid expenses and other current assets	1,897,000		(752,000)
Other assets	(60,000)		0
Accounts payable	(894,000)		(2,097,000)
Accrued clinical and other accrued liabilities	278,000		412,000
Deferred revenues	(1,953,000)		(540,000)
Other liabilities	(394,000)		(641,000)
Net cash used in operating activities	(28,344,000)		(34,396,000)
Cash flows from investing activities:
Purchases of available-for-sale securities	(5,796,000)		(33,131,000)
Maturities of available-for-sale securities	25,292,000		18,340,000
Purchases of property and equipment	(43,000)		(2,542,000)
Net cash provided by (used in) investing activities	19,453,000		(17,333,000)
Cash flows from financing activities:
Proceeds from issuance of common stock and warrants and exercise of stock options and stock purchase rights	175,000		214,000
Change in restricted cash	2,757,000		(4,160,000)
Payment on contingent consideration liability	(868,000)		(251,000)
Proceeds from financing obligations, net of issuance costs	2,914,000		50,830,000
Payments of financing obligations	0		(584,000)
Net cash provided by financing activities	4,978,000		46,049,000
Net decrease in cash and cash equivalents	(3,913,000)		(5,680,000)
Cash and cash equivalents at beginning of period	15,200,000	[1]	17,306,000
Cash and cash equivalents at end of period	11,287,000		11,626,000
Non cash investing and financing activities:
Value of warrants issued with royalty securitization financing	0		1,721,000
Value of the beneficial conversion feature related to borrowings against the Teva Note	0		1,032,000
Value of right-to-borrow asset reclassified as debt discount	$ 0		$ 570,000
[1]	The condensed consolidated balance sheet at December 31, 2014 has been derived from audited consolidated financial statements at that date.

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	1. The Company and Basis of Presentation Business We were incorporated in the state of Delaware on December 19, 2000 as FaxMed, Inc., changed our name to Alexza Corporation in June 2001 and in December 2001 became Alexza Molecular Delivery Corporation. In July 2005, we changed our name to Alexza Pharmaceuticals, Inc. We are a pharmaceutical company focused on the research, development, and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. We operate in one business segment. Our facilities and employees are currently located in the United States. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not contain all of the information and footnotes required for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our interim condensed consolidated financial information. The results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other interim period or any other future year. The accompanying unaudited condensed consolidated financial statements and notes to condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 13, 2015. Basis of Consolidation The unaudited condensed consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated.

Need to Raise Additional Capita

Need to Raise Additional Capital	9 Months Ended
	Sep. 30, 2015
Text Block [Abstract]
Need to Raise Additional Capital	2. Need to Raise Additional Capital We have incurred significant losses from operations since inception and expect losses to continue for the foreseeable future. As of September 30, 2015, we had cash and cash equivalents of $11.3 million and working capital of $111,000. Our operating and capital plans call for cash expenditures to exceed these amounts over the next twelve months. We plan to raise additional capital to fund our operations and to develop our product candidates. We plan to finance our operations through partnership or licensing collaborations, the sale of equity securities, debt arrangements, a potential sale or disposition of one or more corporate assets or a strategic business combination or partnership, and we have engaged Guggenheim Securities, LLC to assist us in exploring such strategic options to enhance stockholder value. Such funding or potential transaction may not be available or may be on terms that are not favorable to us. Our inability to raise capital as and when needed could have a negative impact on our financial condition and our ability to continue as a going concern. If we become unable to continue as a going concern, we may have to liquidate our assets, and might realize significantly less than the values at which they are carried on our financial statements, and stockholders may lose all or part of their investment in our common stock. Based on our available cash resources, amounts available under the Ferrer Note (see Note 8) and our expected cash usage, we estimate that we have sufficient capital resources to meet our anticipated cash needs into the second quarter of 2016. Also, as discussed in Note 12, we have changed our commercial manufacturing strategy and during the third quarter of 2015, we completed all ADASUVE production under our license and supply agreements with our collaborators, Grupo Ferrer Internacional, S.A., or Ferrer, and Teva Pharmaceuticals USA, Inc., or Teva and we suspended our commercial production. As discussed in Note 13 (Subsequent Event), in October 2015 we announced our plan to reacquire the U.S. rights for ADASUVE from Teva with an estimated target completion date of January 1, 2016. We and Teva also plan to restructure the obligations under our outstanding note from Teva. We and Teva are working on a transition agreement to continue product availability to patients and health care providers after the return of the rights to us. We are evaluating the impact of these potential changes on our consolidated financial position, results of operations and cash flows and will not make a final determination until we have entered into a definitive agreement with Teva on these matters. The accompanying financial statements have been prepared assuming we will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts of liabilities that may result from uncertainty related to our ability to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Revenue Recognition We recognize revenue when (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services have been rendered; (iii) the fee is fixed or determinable; and (iv) collectability is reasonably assured. For collaboration agreements, revenues for non-refundable upfront license fee payments, where we continue to have performance obligations, are recognized as performance occurs and obligations are completed. Revenues for non-refundable upfront license fee payments where we do not have significant future performance obligations are recognized when the agreement is signed and the payments are due. For multiple element arrangements, such as collaboration agreements in which a collaborator may purchase several deliverables, we account for each deliverable as a separate unit of accounting if both of the following criteria are met: (i) the delivered item or items have value to the customer on a standalone basis; and (ii) for an arrangement that includes a general right of return relative to the delivered item(s), delivery or performance of the undelivered item(s) is considered probable and substantially in our control. We evaluate how the consideration should be allocated among the units of accounting and allocate revenue to each non-contingent element based upon the relative selling price of each element. We determine the relative selling price for each deliverable using (i) vendor-specific objective evidence, or VSOE, of selling price if it exists; (ii) third-party evidence, or TPE, of selling price if it exists; or (iii) our best estimated selling price for that deliverable if neither VSOE nor TPE of selling price exists for that deliverable. We then recognize the revenue allocated to each element when the four basic revenue criteria described above are met for each element. For milestone payments received in connection with our collaboration agreements, we have elected to adopt the milestone method of accounting under Financial Accounting Standards Board Accounting Standards Codification 605-28, Milestone Method. Under the milestone method, revenues for payments which meet the definition of a milestone will be recognized as the respective milestones are achieved. We recognize product revenue as follows: • Persuasive Evidence of an Arrangement • Delivery • Sales Price Fixed or Determinable • Collectability Royalty revenue from our collaboration agreements will be recognized as we receive information from our collaborators regarding product sales and collectability is reasonably assured. Significant management judgment is used in the determination of revenue to be recognized and the period in which it is recognized. Inventory Inventory is stated at standard cost, which approximates actual cost, determined on a first-in first-out basis, not in excess of market value. Inventory includes the direct costs incurred to manufacture products combined with allocated manufacturing overhead, which consists of indirect costs, including labor and facility overhead. The carrying cost of inventory is reduced so as to not be in excess of the market value of the inventory as determined by the contractual transfer prices to Ferrer and Teva. The excess over the market value is expensed to cost of goods sold. If information becomes available that suggests that all or certain of the inventory may not be realizable, we may be required to expense a portion, or all, of the capitalized inventory into cost of goods sold. We have fulfilled all of the orders we received from Teva and Ferrer for commercial units of ADASUVE for the near and medium term. As a result, we have suspended our commercial production operations (see Note 12) and will resume ADASUVE commercial production as additional commercial product is required by Teva, Ferrer or any future collaborators. We may also consider contracting with third party-manufacturers for ADASUVE if deemed more efficient, including third-party manufacturers with multi-product facilities. During the nine months ended September 30, 2015, we recorded additional cost of goods sold related to $1,229,000 of inventory with fixed expiration dates and $1,024,000 of prepayments made to the supplier of our lower housing assembly all of which are in excess of our expected production needs prior to the planned suspension of commercial production operations. There were no additional charges during the three months ended September 30, 2015. Inventory, which is stated at the lower of cost or estimated market value, consisted primarily of finished goods at September 30, 2015. Contingencies From time to time, we are involved in lawsuits, arbitrations, claims, investigations and proceedings that arise in the ordinary course of business. We make provisions for liabilities when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. No such provisions have been made for the periods presented herein. Litigation and related matters are inherently unpredictable. If any unfavorable ruling were to occur in any specific period, there exists the possibility of a material adverse impact on the results of operations of that period or on our cash flows and liquidity. New Accounting Pronouncements In August 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, companies will have reduced diversity in the timing and content of footnote disclosures than under the current guidance. ASU 2014-15 is effective for us in the first quarter of 2016 with early adoption permitted. We do not believe the impact of adopting ASU 2014-15 will have a material effect on our results of operations or financial position. In May 2014 the Financial Accounting Standards Board, or FASB, issued the Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers (Topic 606), that will supersede nearly all existing revenue recognition guidance under US GAAP. The core principle of the guidance is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard will be effective for public entities for annual and interim periods beginning after December 15, 2017. Entities can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Entities electing the full retrospective adoption will apply the standard to each period presented in the financial statements. This means that entities will have to apply the new guidance as if it had been in effect since the inception of all its contracts with customers presented in the financial statements. Entities that elect the modified retrospective approach will apply the guidance retrospectively only to the most current period presented in the financial statements. This means that entities will have to recognize the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings at the date of initial application. The new revenue standard will be applied to contracts that are in progress at the date of initial application. In July 2015, the Financial Accounting Standards Board decided to defer the effective date of the standard for one year to annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. We are evaluating the requirements of this guidance and have not yet determined the impact of its adoption on our consolidated financial position, results of operations and cash flows. In May 2015, the Financial Accounting Standards Board, or FASB, issued a proposed Accounting Standards Update, or ASU, that would amend the Board’s May 2014 issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), specifically the guidance on identifying performance obligations and the implementation guidance on licensing. The amendments are being made in response to feedback received by the FASB-IASB (International Accounting Standards Board) joint revenue recognition transition resource group, which was formed to address potential issues associated in the implementation of ASU 2014-09. The proposed amendments include (i) identifying performance obligations on immaterial promised goods or services, shipping and handling activities, and identifying when promises represent performance obligations, and (ii) licensing implementation guidance on determining the nature of an entity’s promise in granting a license and sales-based and usage-based royalties. Comments on the proposed ASU were due by June 30, 2015. We are evaluating the requirements of this guidance and have not yet determined the impact of its adoption on our consolidated financial position, results of operations and cash flows.

Fair Value Accounting

Fair Value Accounting	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Accounting	4. Fair Value Accounting Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Three levels of inputs, of which the first two are considered observable and the last unobservable, may be used to measure fair value. The three levels are: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table represents the fair value hierarchy for our financial assets (cash equivalents, marketable securities and restricted cash) by major security type and contingent consideration liability measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Total Assets Money market funds $ 10,856 $ — $ — $ 10,856 Total assets $ 10,856 $ — $ — $ 10,856 Liabilities Contingent consideration liability $ — $ — $ 11,700 $ 11,700 Total liabilities $ — $ — $ 11,700 $ 11,700 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Money market funds $ 12,674 $ — $ — $ 12,674 Corporate debt securities — 24,617 — 24,617 Total assets $ 12,674 $ 24,617 $ — $ 37,291 Liabilities Contingent consideration liability $ — $ — $ 30,800 $ 30,800 Total liabilities $ — $ — $ 30,800 $ 30,800 Cash equivalents and marketable securities The amortized cost, fair value and unrealized gain/(loss) for our financial assets by major security type as of September 30, 2015 and December 31, 2014 are as follows (in thousands): September 30, 2015 Amortized Fair Value Unrealized Money market funds $ 10,856 $ 10,856 $ — Less amounts classified as cash equivalents (10,856 ) (10,856 ) — Total marketable securities $ — $ — $ — December 31, 2014 Amortized Fair Value Unrealized Money market funds $ 12,674 $ 12,674 $ — Corporate debt securities 24,620 24,617 (3 ) Total 37,294 37,291 (3 ) Less amounts classified as restricted cash (2,757 ) (2,757 ) — Less amounts classified as cash equivalents (14,960 ) (14,960 ) — Total marketable securities $ 19,577 $ 19,574 $ (3 ) We had no sales of marketable securities during the three or nine months ended September 30, 2015 or 2014. Contingent Consideration Liability In connection with the exercise of our option to purchase all of the outstanding equity of Symphony Allegro, Inc., or Allegro, in 2009, we are obligated to make contingent cash payments to the former Allegro stockholders related to certain payments received by us from future collaboration agreements pertaining to ADASUVE/AZ-104 ( Staccato Staccato The projected cash flow assumptions for ADASUVE in the United States are based on the License and Supply Agreement, or the Teva Agreement, between us and Teva (see Note 10) and on internally and externally developed product sales forecasts. The timing and extent of the projected cash flows for ADASUVE for Europe, Latin America and the Commonwealth of Independent States countries, or the Ferrer Territories, are based on the Collaboration, License and Supply Agreement, or Ferrer Agreement, between us and Ferrer (see Note 10). The timing and extent of the projected cash flows for the remaining territories for ADASUVE and worldwide territories for AZ-002 and AZ-104 were based on internal estimates for potential milestones and multiple product royalty scenarios and are also consistent in structure to the most recently negotiated collaboration agreements. We then assigned a probability to each of the cash flow scenarios based on several factors, including: the product candidate’s stage of development, preclinical and clinical results, technological risk related to the successful development of the different drug candidates, estimated market size, market risk and potential collaboration interest to determine a risk adjusted weighted average cash flow based on all of these scenarios. For the three months ended March 31, 2014, these probability and risk adjusted weighted average cash flows were then discounted utilizing our estimated weighted average cost of capital, or WACC, of 16.5%. Beginning in the fourth quarter of 2014, we adjusted our WACC to 20%. Our WACC considered our cash position, competition, risk of substitute products, and risk associated with the financing of the development projects. The fair value measurement of the contingent consideration liability is based on significant inputs not observed in the market and thus represents a Level 3 measurement. Level 3 measurements are valued based on unobservable inputs that are supported by little or no market activity and reflect our assumptions in measuring fair value. We record any changes in the fair value of the contingent consideration liability in earnings in the period of the change. Certain events including, but not limited to, the projected timing and terms of any collaboration agreement, clinical trial results, approval or non-approval of any future regulatory submissions and the commercial success of ADASUVE, AZ-104 or AZ-002 could have a material impact on the fair value of the contingent consideration liability, and as a result, our results of operations and financial position for the impacted period. During the nine months ended September 30, 2015, we updated the discounted cash flow model to reflect adjusted ADASUVE sales projections, the impact of the June 2015 amendment to the Ferrer Agreement, heavier weighting to lower sales scenarios, the projected timing of the receipt of certain milestone payments, and the effects of the passage of nine months on the present value computation. As part of this process, we received updated projections from our collaborators in late March 2015 that indicated sales of ADASUVE would be lower in 2015 and 2016 than had been anticipated in the various projections and scenarios used to estimate the contingent consideration liability in previous periods. As a result of these lower projected sales and the decision to suspend our commercial production operations, we reevaluated the rate at which we believe sales will increase, the amount of peak sales, the period of time it will take to reach peak sales, the number of years at which peak sales would be achieved, and the related impact on the amount and timing of related royalties and milestones to be received. This evaluation resulted in a decrease to projected sales and the related milestones and royalties under the high, medium, and low sales scenarios, a heavier weighting to the lower sales scenario, and the removal of certain milestone payments. During the three and nine months ended September 30, 2015, we updated the discounted cash flow model to reflect heavier weighting to lower sales scenarios, the passage of time, and the timing of certain milestones. These items resulted in a decrease to the contingent consideration liability and a corresponding non-operating, non-cash gain of $4,200,000 and $18,232,000 or $0.21 and $0.92 per share, for the three and nine months ended September 30, 2015, respectively. During the nine months ended September 30, 2014, we modified the assumptions associated with the amount and timing of milestones and royalties projected for ADASUVE and AZ-002, the probability that AZ-002 would be licensed or sold by us, and the effects of the passage of nine months on the present value computation. These items resulted in a decrease to the contingent consideration liability and a corresponding non-operating gain of $5,349,000, or $0.31 per share, for the nine months ended September 30, 2014. During the three months ended September 30, 2014 we increased the contingent liability and recognized a non-operating loss of $1,100,000, or $0.06 per share, primarily to reflect the impact of the passage of one quarter of time on the discounted cash flow model. The following table represents a reconciliation of the change in the fair value measurement of the contingent consideration liability for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Beginning balance $ 15,900 $ 32,500 $ 30,800 $ 39,200 Payments made — — (868 ) (251 ) Adjustments to fair value measurement (4,200 ) 1,100 (18,232 ) (5,349 ) Ending balance $ 11,700 $ 33,600 $ 11,700 $ 33,600 Financing Obligations We estimated the fair value of our financing obligations (see Note 8) using the net present value of the payments discounted at an interest rate that is consistent with our estimated current borrowing rate for similar long-term debt. We believe the estimates used to measure the fair value of the financing obligations constitute Level 3 inputs. At September 30, 2015 and December 31, 2014, the estimated fair value of our financing obligations was $50,378,000 and $52,075,000, respectively and had book values of $67,688,000 and $63,767,000, respectively. Our payment commitments associated with these debt instruments may vary with changes in interest rates and are comprised of interest payments and principal payments. The fair value of our debt will fluctuate with movements of interest rates, increasing in periods of declining rates of interest, and declining in periods of increasing rates of interest.

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Share-Based Compensation Plans	5. Share-Based Compensation Plans 2015 Equity Incentive Plan In April 2015, our Board of Directors approved the 2015 Equity Incentive Plan, or the 2015 Plan, and authorized for issuance thereunder (i) an additional 1,000,000 shares of common stock plus (ii) the number of shares available for issuance pursuant to the grant of future awards under our 2005 Equity Incentive Plan determined as of the effective date of the 2015 Plan; plus (iii) the number of shares underlying outstanding stock awards granted under our previous stock option plans prior to the effective date of the 2015 Plan that expire or terminate for any reason prior to exercise or settlement, are forfeited or repurchased because of the failure to meet a contingency or condition required to vest such shares, or are reacquired, withheld (or not issued) to satisfy a tax withholding obligation in connection with an award. The 2015 Plan became effective upon the approval of the plan by our stockholders on June 23, 2015. Due to the effectiveness of our 2015 Plan, no additional awards will be made under our previous stock option plans. All outstanding awards under our previous stock option plans will continue to be subject to the terms and conditions as set forth in the agreements evidencing such stock awards and the terms of the applicable plan. Stock options issued under the 2015 Plan generally vest over 4 years; vesting is generally based on service time, and have a maximum contractual term of 10 years. 2015 Non-Employee Directors’ Stock Option Plan In April 2015, our Board of Directors adopted the 2015 Non-Employee Directors’ Stock Option Plan, or the 2015 Directors’ Plan, and authorized for issuance thereunder and (i) an additional 250,000 shares of common stock plus (ii) the number of shares available for issuance pursuant to the grant of future awards under our previous non-employee directors stock option plan determined as of the effective date of the 2015 Directors’ Plan; plus (iii) the number of shares underlying outstanding stock awards granted under our previous non-employee directors stock option plan prior to the effective date of the 2015 Directors’ Plan that expire or terminate for any reason prior to exercise or settlement, are forfeited or repurchased because of the failure to meet a contingency or condition required to vest such shares, or are reacquired, withheld (or not issued) to satisfy a tax withholding obligation in connection with an award. The 2015 Directors’ Plan became effective upon the approval of the plan by our stockholders on June 23, 2015. Due to the effectiveness of our 2015 Directors’ Plan, no additional awards will be made under our previous non-employee directors’ stock option plan. The 2015 Directors’ Plan provides for the automatic grant of nonstatutory stock options to purchase shares of common stock to the Company’s non-employee directors, which vest over approximately one year and have a term of 10 years. The following table sets forth the summary of option activity under our share-based compensation plans (the 2015 Plan, the 2005 Equity Incentive Plan, the 2015 Directors’ Plan and the 2005 Non-Employee Directors’ Stock Option Plan) for the nine months ended September 30, 2015: Outstanding Options Number of Weighted Outstanding at January 1, 2015 1,978,273 $ 7.10 Options granted 1,441,000 1.18 Options exercised — — Options canceled (703,211 ) (4.93 ) Outstanding at September 30, 2015 2,716,062 $ 4.52 There were no options exercised during the three and nine months ended September 30, 2015. The intrinsic value of options exercised during the three and nine months ended September 30, 2014 was $5,000 and $26,000, respectively. The following table sets forth the summary of restricted stock units, or RSUs, activity under our share-based compensation plans for the nine months ended September 30, 2015: Number Weighted Grant-Date Outstanding at January 1, 2015 81,050 $ 4.67 Granted — — Released (21,875 ) 4.67 Forfeited (18,975 ) 4.67 Outstanding at September 30, 2015 40,200 $ 4.67 As of September 30, 2015, 2,095,596 and 400,000 shares remained available for issuance under the 2015 Plan and the 2015 Directors’ Plan, respectively. Employee Stock Purchase Plan In April 2015, our Board of Directors adopted the 2015 Employee Stock Purchase Plan, or 2015 ESPP, and authorized for issuance thereunder (i) an additional 500,000 shares of our common stock plus (ii) the number of shares that remain available for issuance under our previous employee stock purchase plan after all outstanding purchase rights under our previous employee stock purchase plan are exercised. The 2015 ESPP allows eligible employee participants to purchase shares of our common stock at a discount through payroll deductions. The terms of any offering period under the 2015 ESPP will be determined by the Board. Purchases are generally made on the last trading day of each November and May. Employees may purchase shares at each purchase date at 85% of the market value of our common stock at either the beginning of the offering period or the end of the purchase period, whichever price is lower. Our 2005 Employee Stock Purchase Plan, or 2005 ESPP, remained in effect until the conclusion of our previous offering, which concluded in October 2015. As of September 30, 2015, 136,249 shares were available for issuance under the 2005 ESPP. Any shares not purchased by our employees in the recently concluded offering under the 2005 ESPP will be added to the available reserve of 500,000 shares for the 2015 ESPP.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	6. Share-Based Compensation Employee Share-Based Awards Compensation cost for employee share-based awards is based on the grant-date fair value and is recognized over the vesting period of the applicable award on a straight-line basis. We issue employee share-based awards in the form of stock options and restricted stock units under our equity incentive plans, and stock purchase rights under the 2005 ESPP and the 2015 ESPP (see Note 5). Valuation of Stock Options, Stock Purchase Rights and Restricted Stock Units During the three and nine months ended September 30, 2015 and 2014, the per share weighted average fair value of employee stock options granted were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock options $ 0.74 $ 2.55 $ 0.80 $ 3.13 Restricted stock units — — — — Stock purchase rights 0.80 1.04 0.80 1.48 The estimated grant date fair values of the stock options and stock purchase rights were calculated using the Black-Scholes valuation model, and the following weighted average assumptions: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock Option Plans Expected term 5.0 years 5.0 years 5.0 years 5.0 years Expected volatility 87 % 82 % 87 % 84 % Risk-free interest rate 1.63 % 1.74 % 1.61 % 1.62 % Dividend yield 0 % 0 % 0 % 0 % Employee Stock Purchase Plan Expected term 0.5 years 0.5 years 0.5 years 0.5 years Expected volatility 93 % 36 % 93 % 61 % Risk-free interest rate 0.18 % 0.10 % 0.18 % 0.67 % Dividend yield 0 % 0 % 0 % 0 % During the nine months ended September 30, 2015, we increased our annual estimated forfeiture rate from 7% to 20%, which resulted in a one-time decrease of approximately $60,000 to our share-based compensation expense. As of September 30, 2015, there was $1,939,000, $122,000, and $3,000 of total unrecognized compensation expense related to unvested stock option awards, unvested restricted stock units and stock purchase rights, respectively, which are expected to be recognized over a weighted average period of 2.6 years, 1.4 years, and 0.1 years, respectively. We had no share-based compensation capitalized at September 30, 2015.

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Loss per Share	7. Net Loss per Share Basic and diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. The following items were excluded in the net loss per share calculation for the three and nine months ended September 30, 2015 and 2014 because the inclusion of such items would have had an anti-dilutive effect: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock options 2,248,406 2,867,209 2,115,021 2,541,809 Restricted stock units 47,475 388,263 57,692 443,719 Warrants to purchase common stock 5,887,006 6,807,727 5,897,652 6,721,312 Shares issuable upon conversion of convertible debt 5,576,250 5,382,363 5,479,306 4,657,757

Financing Obligations

Financing Obligations	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Financing Obligations	8. Financing Obligations Teva Pharmaceuticals USA, Inc. In May 2013, concurrent with the Teva Agreement (see Note 10), we entered into a Convertible Promissory Note and Agreement to Lend, dated as of May 7, 2013, between us and Teva, or the Teva Note. Under the terms of the Teva Note, we had the ability, upon written notice to Teva, to draw upon the Teva Note to fund agreed operating budgets related to ADASUVE. The aggregate drawdowns totaled up to $25,000,000 and are due and payable, together with all interest, on the fifth anniversary of the signing of the Teva Note. We may prepay, from time to time, up to one-half of the total amounts advanced plus the related interest outstanding at any time prior to the maturity date. At any time prior to five days before the maturity date, Teva will have the right to convert the then outstanding amounts into shares of our common stock at a conversion price of $4.4833 per share. The Teva Note bears simple interest of 4% per year. We had fully drawn the $25,000,000 available under the Teva Note as of December 31, 2014. At the time of the drawdowns, the contractual conversion price was less than the value of our common stock. As a result, at each draw down date, we calculated the value of the beneficial conversion feature of the convertible note and recorded an increase to additional paid-in-capital and a discount on the Teva Note which is being amortized to interest expense over the life of the borrowing. Additionally, at each draw, we reclassified the relative portion of the unamortized right-to-borrow asset, classified as an Other Asset, against the Teva Note, which is also being amortized to interest expense over the life of the borrowing. As we drew on the Teva Note, the relative portion of the unamortized right-to-borrow was accounted for as a discount on the borrowing and is being amortized to interest expense over the life of the borrowing. The following table shows the effective interest rate for each drawdown after taking into consideration the beneficial ownership features and the right-to-borrow asset discount. Draw Beneficial Reclassified Effective September 2013 $ 10,000,000 $ 2,455,000 $ 900,000 14.2 % December 2013 5,000,000 657,000 393,000 10.2 % March 2014 5,000,000 883,000 318,000 11.6 % June 2014 5,000,000 148,000 252,000 6.6 % We recognized $216,000 of interest expense related to the amortization of the right-to-borrow asset during the nine months ended September 30, 2014 and there was no interest expense recognized during the third quarter of 2014. As of December 31, 2014, all of the right-to-borrow asset had been reclassified against the Teva Note. In June 2015, we entered into an amendment to the Teva Note. Included in the amendment is a cessation of interest accrual during the suspension of the Company’s obligation to manufacture ADASUVE product for Teva from the date of the amendment to July 1, 2017, or the Suspension Period, with reinstatement of interest accrual if Teva submits a purchase order after July 1, 2017 and before December 31, 2017. In addition, the maturity date of the Teva Note is extended from May 7, 2018 to a new maturity date which includes the addition of the number of days in the Suspension Period. Also included in the amendment is a provision where we have the right to increase the loan amount under the Teva Note for reimbursement of the Company’s manufacturing facility rent through the Suspension Period, up to a maximum of $1,675,000. As a result of this amendment, the effective interest rate of the Teva Note, based on its current book value and revised interest terms and estimated maturity date, was reduced from 9.7% prior to the amendment to 5.2% after the amendment. See also Note 13 (Subsequent Event). Royalty Securitization Financing In March 2014, we completed a royalty securitization financing, which consisted of a private placement to qualified institutional investors of $45,000,000 of non-recourse notes issued by our wholly-owned subsidiary, or the Notes, and warrants to purchase 345,661 shares of our common stock at a price of $0.01 per share exercisable for five years from the date of issuance. The Notes bear interest at 12.25% per annum payable quarterly beginning June 15, 2014. All royalty and milestone payments under the Teva Agreement, after paying interest, administrative fees, and any applicable taxes, will be applied to principal and interest payments on the Notes until the Notes have been paid in full. The Notes are secured by the right to receive royalty and milestone payments under the Teva Agreement and our equity ownership in the wholly-owned subsidiary. The Notes have no other recourse to us. The Notes may not be redeemed at our option until after March 18, 2016, and may be redeemed after that date subject to the achievement of certain milestones and the payment of a redemption premium for any redemption occurring prior to March 19, 2019. The Notes are not convertible into Alexza equity, nor have we guaranteed them. From the proceeds of the transaction, we established a $6,890,000 interest reserve account, which is classified as a noncurrent asset, to cover any potential shortfall in interest payments. At June 30, 2015, the full amount of the interest reserve account had been fully utilized. We valued the warrants issued to the debt holders utilizing the Black-Scholes valuation model with an assumed volatility of 87%, an estimated life of 5 years, a 1.54% risk-free interest rate and a dividend rate of 0%. The total value of the warrants, $1,721,000, was recognized as an increase to Additional Paid In Capital and as a discount to the Notes. The amount will be amortized into interest expense over a five-year period. We incurred total fees and expenses of $4,171,000, which we recorded as a noncurrent Other Asset, and are amortizing into interest expense over a five-year period. Ferrer Promissory Note On September 28, 2015, we issued a promissory note to Ferrer, in the maximum principal amount of $5,000,000, or the Ferrer Note. The terms of the Ferrer Note provide that (i) Ferrer will loan us up to $5,000,000 in two tranches. The initial tranche of $3,000,000 was received by us on September 28, 2015 and we have the option to borrow the second tranche of $2,000,000 at any time on or after January 1, 2016, (ii) interest accrues on the outstanding principal at the rate of 6% per annum, compounded monthly, through May 31, 2016, (iii) all outstanding principal and accrued interest under the Ferrer Note is due and payable upon Ferrer’s demand on May 31, 2016, (iv) we may prepay the Ferrer Note at any time without premium or penalty, and (v) we issued 125,000 shares of our common stock to Ferrer as partial consideration for the loan. The common stock was issued to Ferrer pursuant to the Stock Issuance Agreement and was not registered at the time of issuance under the Securities Act of 1933, as amended. We valued the common stock issued to Ferrer at $143,750 using the closing price of the Company’s common stock on the date of the agreement. Based on the percent drawdown, 60% was proportionately recorded as a discount to the Ferrer Note and 40% was capitalized as a current asset on our consolidated Balance Sheet. If we drawdown the second tranche, the remaining balance of the capitalized amount will be reclassified as a debt discount against the second tranche. The amount of $143,750 is being amortized over the life of the Ferrer Note. The effective interest rate of the note, including the value of the shares issued, is 10.5%. Future Scheduled Payments Future scheduled principal payments under our various debt obligations as of September 30, 2015 are as follows (in thousands): Total 2015 — remaining 3 months $ — 2016 3,000 2017 — 2018 — Thereafter 25,000 Total $ 28,000 The above table excludes any payments pursuant to the $45,000,000 from the royalty securitization financing notes of our wholly-owned subsidiary, which have a legal maturity date in 2027. The principal payments by the subsidiary under the royalty securitization financing will be dependent upon the timing and amounts of royalties and milestone payments received under the Teva Agreement.

Facility Leases

Facility Leases	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Facility Leases	9. Facility Leases We lease a building in Mountain View, California which we began to occupy in the fourth quarter of 2007. We recognize rental expense on the facility on a straight line basis over the initial term of the lease. Differences between the straight line rent expense and rent payments are classified as deferred rent liability on the balance sheet. The lease for the building expires on March 31, 2018, and we have two options to extend the lease for five years each.

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License Agreements	10. License Agreements Grupo Ferrer Internacional, S.A. On October 5, 2011, we and Ferrer entered into the Ferrer Agreement to commercialize ADASUVE in the Ferrer Territories. Under the terms of the Ferrer Agreement, we received an upfront cash payment of $10,000,000, of which $5,000,000 was paid to the former stockholders of Allegro. The Ferrer Agreement provided for up to an additional $51,000,000 in additional milestone payments, contingent on approval of the EU Marketing Authorization Application, or MAA, certain individual country commercial sales initiations and royalty payments based on cumulative net sales targets in the Ferrer Territories. We are responsible for the MAA for ADASUVE. The MAA was submitted to the European Medicines Agency, or EMA, and was approved in February 2013 by the European Commission, or the EC. We are also responsible for all post-authorization clinical studies required by the EMA and EC. Ferrer is responsible for the satisfaction of all other regulatory and pricing requirements to market and sell ADASUVE in the Ferrer Territories. Ferrer has the exclusive rights to commercialize the product in the Ferrer Territories. We supply ADASUVE to Ferrer for all of its commercial sales, and receive a specified per-unit transfer price paid in Euros. Either party may terminate the Ferrer Agreement for the other party’s uncured material breach or bankruptcy. The Ferrer Agreement continues in effect on a country-by-country basis until the later of the last to expire patent covering ADASUVE in such country or 12 years after first commercial sale. The Ferrer Agreement is subject to earlier termination in the event the parties mutually agree, by a party in the event of an uncured material breach by the other party or upon the bankruptcy or insolvency of either party. In March 2012, we entered into an amendment to the Ferrer Agreement. We and Ferrer agreed to eliminate the potential MAA approval milestone payment in exchange for Ferrer’s purchase of 241,936 shares of our common stock for $12.40 per share for a total of $3,000,000, which reflected a premium on the fair value of our common stock of approximately $1,452,000 at the time of the transaction. In October 2014, we entered into an amendment to the Ferrer Agreement. We and Ferrer agreed to eliminate certain individual country commercial sales initiation milestone payments in exchange for Ferrer’s purchase of 2,000,000 shares of our common stock for $4.00 per share for a total of $8,000,000, which reflected a premium on the fair value of our common stock of approximately $2,400,000. In January 2015, we paid the former shareholders of Symphony Allegro $865,000 related to this stock sale. In June 2015, we entered into an amendment to the Ferrer Agreement. We and Ferrer agreed to: (i) transfer ownership of the MAA to Ferrer, whereby Ferrer becomes responsible for all post-approval requirements of the MAA, including the post-authorization safety study, the drug utilization study and the Phase 3 clinical trial for adolescents and all other related regulatory activities and costs associated with the ADASUVE MAA, (ii) provide Ferrer an option to manufacture ADASUVE in the Ferrer Territories as well as for use by us in territories other than the U.S., Canada, China, Hong Kong, Taiwan and Macao, and if Ferrer does not exercise this option, we have the right to assign the ADASUVE manufacturing right to a third party, subject to Ferrer’s written consent, not to be unreasonably withheld, (iii) eliminate the remaining milestones related to first commercial sales in selected countries, and (iv) provide Ferrer with the right to access technology and develop a Staccato Staccato We evaluated whether the delivered elements under the Ferrer Agreement have value on a stand-alone basis and allocated revenue to the identified units of accounting based on relative fair value. We determined that the license and the development and regulatory services are a single unit of accounting as the licenses were determined not to have stand-alone value. We have begun to deliver all elements of the arrangement and are recognizing the $10,000,000 upfront payment as revenue ratably over the estimated performance period of the agreement of four years. The $1,452,000 and $2,400,000 premiums received from the sales of common stock to Ferrer are additional consideration received pursuant to the Ferrer Agreement and does not pertain to a separate deliverable or element of the arrangement, and thus is being deferred and recognized as revenue in a manner consistent with the $10,000,000 upfront payment. During the three and nine months ended September 30, 2015, we recognized $712,000 and $1,954,000, respectively, and $613,000 and $1,838,000 during the three and nine months ended September 30, 2014, respectively in revenue. At September 30, 2015, we had $3,600,000 of deferred revenue related to the Ferrer Agreement. The Ferrer Agreement, as amended, provides for us to receive up to $40,000,000 of additional payments related to cumulative net sales targets in the Ferrer Territories. The cumulative net sales targets will be recognized as royalty revenue when each target is earned and payable to us. We believe each of these milestones is substantive as there is uncertainty that the milestones will be met, the milestone can only be achieved as a result of our past performance and the achievement of the milestone will result in additional payment to us. In January 2014, we recognized revenue in the amount of $1,000,000 from a milestone payment for the first product sale in Spain, of which $250,000 was paid to the former stockholders of Allegro (see Note 4). Teva Pharmaceuticals USA, Inc. In May 2013, we entered into the Teva Agreement to provide Teva with an exclusive license to develop and commercialize ADASUVE in the United States. Under the terms of the Teva Agreement, Teva is responsible for all U.S. development, regulatory and commercialization activities for ADASUVE, including the U.S. post-approval clinical studies and any additional clinical trials for new indications. Teva has the full right to sublicense its rights and obligations under the Teva Agreement. We are responsible for manufacturing and supplying ADASUVE to Teva for clinical trials and commercial sales. Teva has the exclusive rights to commercialize ADASUVE and AZ-104 in the United States and the co-exclusive rights, with us and our affiliates, to manufacture the product. We received an upfront cash payment of $40,000,000 from Teva, $10,000,000 of which was paid to the former stockholders of Allegro. We are eligible to receive up to $195,000,000 in additional payments contingent on Teva’s successful completion of the ADASUVE post-approval studies in the United States and Teva achieving specified net sales targets. In addition to these payments, we supply ADASUVE to Teva for all of its clinical trials and commercial sales, and we receive a specified per-unit transfer price in an amount of the greater of our costs of commercial production or a specified per-unit price. Teva makes tiered royalty payments based on net commercial sales of ADASUVE in the United States. In March 2014, Teva announced the U.S. launch of ADASUVE. In March 2014, we completed a royalty securitization financing, in which we transferred certain rights to U.S. royalty and milestone payments under the Teva Agreement to a wholly-owned subsidiary. The subsidiary then sold $45,000,000 in notes backed by the royalty and milestone payments in a private placement to institutional accredited investors. The notes have no recourse to us, other than to our equity interest in our wholly-owned subsidiary, and we did not guarantee the notes. Unless earlier terminated, the Teva Agreement continues in effect until the later of the last to expire patent covering ADASUVE in the United States or a specified number of years after first commercial sale. The Teva Agreement is subject to earlier termination in the event the parties mutually agree, by a party in the event of an uncured material breach by the other party or upon the bankruptcy or insolvency of either party. Teva may also terminate the Teva Agreement in the event the FDA requires withdrawal or suspension of ADASUVE from the market due to safety reasons or, subject to a specified period of notice, for Teva’s convenience at any time following the first anniversary of the Teva Agreement. We evaluated whether the delivered elements under the Teva Agreement have value on a stand-alone basis and allocated revenue to the identified units of accounting based on relative fair value. We determined that the license fees are a single unit of accounting and valued the license based on its best estimate of selling price, as VSOE and TPE of the selling price could not be determined. The selling price was estimated using discounted projected cash flows related to the licensed territory. We have delivered the license to Teva and recognized the $40,000,000 non-refundable upfront payment as revenue. As described in Note 8, in connection with the Teva Agreement, we received a right-to-borrow under the Teva Note, which included the ability to draw on the Teva Note in amounts not to exceed $25,000,000, over a two year period, all of which had been drawn upon as of December 31, 2014. As outlined in Note 8, the Teva Note has a fixed conversion price and interest rate. This right-to-borrow was considered additional consideration provided by Teva to us pursuant to the Teva Agreement. As noted above, we are eligible to receive up to $195,000,000 of additional payments from Teva related to Teva’s successful completion of the ADASUVE post-approval studies in the United States and Teva achieving specified net sales targets. The payments related to net sales targets will be recognized as royalty revenue when each target is earned and payable to us. The payment related to the completion of the ADASUVE post-approval studies will be recognized upon completion of the studies when the payment is earned and payable to us. In June 2015, we entered into an amendment to the Teva Agreement, or the Teva Amendment. The Teva Amendment provides for, among other matters: (i) suspension of our obligation to manufacture ADASUVE product during the Suspension Period, with reinstatement if Teva submits a purchase order after July 1, 2017 and before December 31, 2017; (ii) a right for Teva to manufacture ADASUVE product itself; (iii) provides for Teva to reasonably consent to our assignment of the manufacturing rights under the Teva Agreement to a third party; (iv) suspends certain commercialization obligations of Teva during the Suspension Period; (v) provides us the right to increase the loan amount under the Teva Note for reimbursement of the Company’s manufacturing facility rent through the Suspension Period, up to a maximum of $1,675,000; (vi) provides for consent by Teva, under certain conditions, to the sale of all of our ADASUVE manufacturing facility assets and any assignment of manufacturing rights and obligations by us to a third party; and (vii) if we have assigned, sublicensed, subcontracted, delegated or otherwise transferred our manufacturing rights to a third party, further provides for a right of first offer to Teva with respect to the sale of our ADASUVE manufacturing facility assets. See also Note 13 (Subsequent Event).

Autoliv Manufacturing and Suppl

Autoliv Manufacturing and Supply Agreement	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Autoliv Manufacturing and Supply Agreement	11. Autoliv Manufacturing and Supply Agreement In November 2007, we entered into a Manufacturing and Supply Agreement, or the Manufacture Agreement, with Autoliv relating to the commercial supply of chemical heat packages that can be incorporated into our Staccato Subject to certain exceptions, Autoliv has agreed to manufacture, assemble and test the Chemical Heat Packages solely for us in conformance with our specifications. We pay Autoliv a specified purchase price, which varies based on annual quantities we order, per Chemical Heat Package delivered. Upon termination of the Manufacture Agreement, we were to retain full ownership of the production equipment for commercial manufacture of the Chemical Heat Packages developed for us by Autoliv, and Autoliv’s obligations under the Manufacture Agreement will terminate in full. In December 2014, we amended the Manufacture Agreement with Autoliv, or the 2014 Amendment through which we and Autoliv are extending the Manufacturing Agreement through 2018. In addition, we have the right to engage a second source supplier and implement a manufacturing line transfer from Autoliv to manufacture and supply the Chemical Heat Packages to us or our licensees. We have contracted with Autoliv, through a third-party supplier, to build one additional manufacturing cell to manufacture chemical heat packages at a cost of approximately $2.4 million, or the New Cell. The New Cell was expected to be installed at Autoliv with the cell currently being utilized by Autoliv, or the Original Cell, to be installed at a second source supplier. Due to the Original Cell no longer being utilized and the uncertainty of the timing of engaging a second source supplier (see Note 12), we recorded additional cost of goods sold of $1,381,000 in the nine months ended September 30, 2015 due to the impairment of the Original Cell. The $1,381,000 impairment reduced the carrying amount of this cell to zero, which we believe is the fair value of this equipment and is a level 3 fair value measurement. The equipment is specialized and was developed specifically for the manufacture of ADASUVE and would be of limited, if any, utility to a third-party. Thus, we concluded that given the decreased projections of ADASUVE sales and the related decline in production noted below in Note 12, as well as the limited ability to sell this equipment, that its fair value is zero. The New Cell will be utilized if and when commercial production resumes. There were no additional charges during the three months ended September 30, 2015.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring	12. Restructuring As of September 30, 2015, we completed the commercial production and shipment of all ADASUVE orders received from Teva and Ferrer. With commercial production completed, we suspended our ADASUVE commercial manufacturing operations. We plan to resume ADASUVE commercial production as additional commercial product is required by our collaborators. We may also consider contracting with third party manufacturers for ADASUVE units if deemed more efficient, including third-party manufacturers with multi-product facilities. During the nine months ended September 30, 2015, we recorded additional cost of goods sold related to $1,229,000 of inventory with fixed expiration dates and $1,024,000 of prepayments made to the supplier of our lower housing assembly, all of which are in excess of our expected production needs prior to the planned suspension of commercial production operations. There were no additional charges during the three months ended September 30, 2015. As part of our restructuring plan, we have eliminated 33 employees as of September 30, 2015 with an aggregate amount of $1,230,000 in severance package costs. Each affected employee received (i) severance payments equal to three months of salary plus an additional amount equal to one week of salary for each year of Alexza service in excess of five years; and (ii) three months of paid medical insurance premiums and outplacement services, or in total, the Severance Package. During the three and nine months ended September 30, 2015, we recognized $455,000 and $673,000 of expense related to the Severance Package associated with commercial production employees, respectively. In addition, the majority of our remaining employees have received notification that their positions may be eliminated. If we are unable to obtain additional financing and further restructure our operations, the remaining employees who received notification will receive benefits substantially equivalent to the Severance Package. The aggregate cost of the Severance Package for these employees is approximately $1,481,000 and is being amortized over the period in which the employees are expected to provide service. During the three and nine months ended September 30, 2015, we recognized $873,000 and $1,172,000, respectively, of expenses related to the Severance Package for these employees.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	13. Subsequent Event In October 2015 we announced our plan to reacquire the U.S. rights for ADASUVE from Teva with an estimated target completion date of January 1, 2016. We and Teva also plan to restructure the obligations under our outstanding note from Teva. We and Teva are working on a transition agreement to continue product availability to patients and health care providers after the return of the rights to us. We are evaluating the impact of these potential changes on our consolidated financial position, results of operations and cash flows and will not make a final determination until we have entered into a definitive agreement with Teva on these matters.

The Company and Basis of Pres18

The Company and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not contain all of the information and footnotes required for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our interim condensed consolidated financial information. The results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other interim period or any other future year. The accompanying unaudited condensed consolidated financial statements and notes to condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 13, 2015.
Basis of Consolidation	Basis of Consolidation The unaudited condensed consolidated financial statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated.
Need to Raise Additional Capital	We have incurred significant losses from operations since inception and expect losses to continue for the foreseeable future. As of September 30, 2015, we had cash and cash equivalents of $11.3 million and working capital of $111,000. Our operating and capital plans call for cash expenditures to exceed these amounts over the next twelve months. We plan to raise additional capital to fund our operations and to develop our product candidates. We plan to finance our operations through partnership or licensing collaborations, the sale of equity securities, debt arrangements, a potential sale or disposition of one or more corporate assets or a strategic business combination or partnership, and we have engaged Guggenheim Securities, LLC to assist us in exploring such strategic options to enhance stockholder value. Such funding or potential transaction may not be available or may be on terms that are not favorable to us. Our inability to raise capital as and when needed could have a negative impact on our financial condition and our ability to continue as a going concern. If we become unable to continue as a going concern, we may have to liquidate our assets, and might realize significantly less than the values at which they are carried on our financial statements, and stockholders may lose all or part of their investment in our common stock. Based on our available cash resources, amounts available under the Ferrer Note (see Note 8) and our expected cash usage, we estimate that we have sufficient capital resources to meet our anticipated cash needs into the second quarter of 2016. Also, as discussed in Note 12, we have changed our commercial manufacturing strategy and during the third quarter of 2015, we completed all ADASUVE production under our license and supply agreements with our collaborators, Grupo Ferrer Internacional, S.A., or Ferrer, and Teva Pharmaceuticals USA, Inc., or Teva and we suspended our commercial production.
Revenue Recognition	Revenue Recognition We recognize revenue when (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services have been rendered; (iii) the fee is fixed or determinable; and (iv) collectability is reasonably assured. For collaboration agreements, revenues for non-refundable upfront license fee payments, where we continue to have performance obligations, are recognized as performance occurs and obligations are completed. Revenues for non-refundable upfront license fee payments where we do not have significant future performance obligations are recognized when the agreement is signed and the payments are due. For multiple element arrangements, such as collaboration agreements in which a collaborator may purchase several deliverables, we account for each deliverable as a separate unit of accounting if both of the following criteria are met: (i) the delivered item or items have value to the customer on a standalone basis; and (ii) for an arrangement that includes a general right of return relative to the delivered item(s), delivery or performance of the undelivered item(s) is considered probable and substantially in our control. We evaluate how the consideration should be allocated among the units of accounting and allocate revenue to each non-contingent element based upon the relative selling price of each element. We determine the relative selling price for each deliverable using (i) vendor-specific objective evidence, or VSOE, of selling price if it exists; (ii) third-party evidence, or TPE, of selling price if it exists; or (iii) our best estimated selling price for that deliverable if neither VSOE nor TPE of selling price exists for that deliverable. We then recognize the revenue allocated to each element when the four basic revenue criteria described above are met for each element. For milestone payments received in connection with our collaboration agreements, we have elected to adopt the milestone method of accounting under Financial Accounting Standards Board Accounting Standards Codification 605-28, Milestone Method. Under the milestone method, revenues for payments which meet the definition of a milestone will be recognized as the respective milestones are achieved. We recognize product revenue as follows: • Persuasive Evidence of an Arrangement • Delivery • Sales Price Fixed or Determinable • Collectability Royalty revenue from our collaboration agreements will be recognized as we receive information from our collaborators regarding product sales and collectability is reasonably assured. Significant management judgment is used in the determination of revenue to be recognized and the period in which it is recognized.
Inventory	Inventory Inventory is stated at standard cost, which approximates actual cost, determined on a first-in first-out basis, not in excess of market value. Inventory includes the direct costs incurred to manufacture products combined with allocated manufacturing overhead, which consists of indirect costs, including labor and facility overhead. The carrying cost of inventory is reduced so as to not be in excess of the market value of the inventory as determined by the contractual transfer prices to Ferrer and Teva. The excess over the market value is expensed to cost of goods sold. If information becomes available that suggests that all or certain of the inventory may not be realizable, we may be required to expense a portion, or all, of the capitalized inventory into cost of goods sold.
Contingencies	Contingencies From time to time, we are involved in lawsuits, arbitrations, claims, investigations and proceedings that arise in the ordinary course of business. We make provisions for liabilities when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. No such provisions have been made for the periods presented herein. Litigation and related matters are inherently unpredictable. If any unfavorable ruling were to occur in any specific period, there exists the possibility of a material adverse impact on the results of operations of that period or on our cash flows and liquidity.
New Accounting Pronouncements	New Accounting Pronouncements In August 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, companies will have reduced diversity in the timing and content of footnote disclosures than under the current guidance. ASU 2014-15 is effective for us in the first quarter of 2016 with early adoption permitted. We do not believe the impact of adopting ASU 2014-15 will have a material effect on our results of operations or financial position. In May 2014 the Financial Accounting Standards Board, or FASB, issued the Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers (Topic 606), that will supersede nearly all existing revenue recognition guidance under US GAAP. The core principle of the guidance is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard will be effective for public entities for annual and interim periods beginning after December 15, 2017. Entities can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Entities electing the full retrospective adoption will apply the standard to each period presented in the financial statements. This means that entities will have to apply the new guidance as if it had been in effect since the inception of all its contracts with customers presented in the financial statements. Entities that elect the modified retrospective approach will apply the guidance retrospectively only to the most current period presented in the financial statements. This means that entities will have to recognize the cumulative effect of initially applying the new standard as an adjustment to the opening balance of retained earnings at the date of initial application. The new revenue standard will be applied to contracts that are in progress at the date of initial application. In July 2015, the Financial Accounting Standards Board decided to defer the effective date of the standard for one year to annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. We are evaluating the requirements of this guidance and have not yet determined the impact of its adoption on our consolidated financial position, results of operations and cash flows. In May 2015, the Financial Accounting Standards Board, or FASB, issued a proposed Accounting Standards Update, or ASU, that would amend the Board’s May 2014 issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), specifically the guidance on identifying performance obligations and the implementation guidance on licensing. The amendments are being made in response to feedback received by the FASB-IASB (International Accounting Standards Board) joint revenue recognition transition resource group, which was formed to address potential issues associated in the implementation of ASU 2014-09. The proposed amendments include (i) identifying performance obligations on immaterial promised goods or services, shipping and handling activities, and identifying when promises represent performance obligations, and (ii) licensing implementation guidance on determining the nature of an entity’s promise in granting a license and sales-based and usage-based royalties. Comments on the proposed ASU were due by June 30, 2015. We are evaluating the requirements of this guidance and have not yet determined the impact of its adoption on our consolidated financial position, results of operations and cash flows.

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets by Major Security Type and Contingent Consideration Liability Measured at Fair Value on Recurring Basis	The following table represents the fair value hierarchy for our financial assets (cash equivalents, marketable securities and restricted cash) by major security type and contingent consideration liability measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Total Assets Money market funds $ 10,856 $ — $ — $ 10,856 Total assets $ 10,856 $ — $ — $ 10,856 Liabilities Contingent consideration liability $ — $ — $ 11,700 $ 11,700 Total liabilities $ — $ — $ 11,700 $ 11,700 December 31, 2014 Level 1 Level 2 Level 3 Total Assets Money market funds $ 12,674 $ — $ — $ 12,674 Corporate debt securities — 24,617 — 24,617 Total assets $ 12,674 $ 24,617 $ — $ 37,291 Liabilities Contingent consideration liability $ — $ — $ 30,800 $ 30,800 Total liabilities $ — $ — $ 30,800 $ 30,800
Schedule of Cash Equivalents and Marketable Securities	The amortized cost, fair value and unrealized gain/(loss) for our financial assets by major security type as of September 30, 2015 and December 31, 2014 are as follows (in thousands): September 30, 2015 Amortized Fair Value Unrealized Money market funds $ 10,856 $ 10,856 $ — Less amounts classified as cash equivalents (10,856 ) (10,856 ) — Total marketable securities $ — $ — $ — December 31, 2014 Amortized Fair Value Unrealized Money market funds $ 12,674 $ 12,674 $ — Corporate debt securities 24,620 24,617 (3 ) Total 37,294 37,291 (3 ) Less amounts classified as restricted cash (2,757 ) (2,757 ) — Less amounts classified as cash equivalents (14,960 ) (14,960 ) — Total marketable securities $ 19,577 $ 19,574 $ (3 )
Fair Value Measurement of Contingent Consideration Liability	The following table represents a reconciliation of the change in the fair value measurement of the contingent consideration liability for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Beginning balance $ 15,900 $ 32,500 $ 30,800 $ 39,200 Payments made — — (868 ) (251 ) Adjustments to fair value measurement (4,200 ) 1,100 (18,232 ) (5,349 ) Ending balance $ 11,700 $ 33,600 $ 11,700 $ 33,600

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Summary of Option Activity under Company's Share-Based Compensation Plans	The following table sets forth the summary of option activity under our share-based compensation plans (the 2015 Plan, the 2005 Equity Incentive Plan, the 2015 Directors’ Plan and the 2005 Non-Employee Directors’ Stock Option Plan) for the nine months ended September 30, 2015: Outstanding Options Number of Weighted Outstanding at January 1, 2015 1,978,273 $ 7.10 Options granted 1,441,000 1.18 Options exercised — — Options canceled (703,211 ) (4.93 ) Outstanding at September 30, 2015 2,716,062 $ 4.52
Summary of Restricted Stock Units, or RSUs, Activity under Company's Share-Based Compensation Plans	The following table sets forth the summary of restricted stock units, or RSUs, activity under our share-based compensation plans for the nine months ended September 30, 2015: Number Weighted Grant-Date Outstanding at January 1, 2015 81,050 $ 4.67 Granted — — Released (21,875 ) 4.67 Forfeited (18,975 ) 4.67 Outstanding at September 30, 2015 40,200 $ 4.67

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Fair Value of Employee Stock Options Granted	During the three and nine months ended September 30, 2015 and 2014, the per share weighted average fair value of employee stock options granted were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock options $ 0.74 $ 2.55 $ 0.80 $ 3.13 Restricted stock units — — — — Stock purchase rights 0.80 1.04 0.80 1.48
Estimated Grant Date Fair Values of Stock Options with Weighted Average Assumptions	The estimated grant date fair values of the stock options and stock purchase rights were calculated using the Black-Scholes valuation model, and the following weighted average assumptions: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock Option Plans Expected term 5.0 years 5.0 years 5.0 years 5.0 years Expected volatility 87 % 82 % 87 % 84 % Risk-free interest rate 1.63 % 1.74 % 1.61 % 1.62 % Dividend yield 0 % 0 % 0 % 0 % Employee Stock Purchase Plan Expected term 0.5 years 0.5 years 0.5 years 0.5 years Expected volatility 93 % 36 % 93 % 61 % Risk-free interest rate 0.18 % 0.10 % 0.18 % 0.67 % Dividend yield 0 % 0 % 0 % 0 %

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Anti-Dilutive Securities Excluded from Net Loss per Share	The following items were excluded in the net loss per share calculation for the three and nine months ended September 30, 2015 and 2014 because the inclusion of such items would have had an anti-dilutive effect: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Stock options 2,248,406 2,867,209 2,115,021 2,541,809 Restricted stock units 47,475 388,263 57,692 443,719 Warrants to purchase common stock 5,887,006 6,807,727 5,897,652 6,721,312 Shares issuable upon conversion of convertible debt 5,576,250 5,382,363 5,479,306 4,657,757

Financing Obligations (Tables)

Financing Obligations (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Effective Interest Rate Drawdown after Taking into Consideration Beneficial Ownership Features and Right to Borrow Asset Discount	The following table shows the effective interest rate for each drawdown after taking into consideration the beneficial ownership features and the right-to-borrow asset discount. Draw Amount Beneficial Reclassified Effective September 2013 $ 10,000,000 $ 2,455,000 $ 900,000 14.2 % December 2013 5,000,000 657,000 393,000 10.2 % March 2014 5,000,000 883,000 318,000 11.6 % June 2014 5,000,000 148,000 252,000 6.6 %
Long Term Debt Payments by Year	Future scheduled principal payments under our various debt obligations as of September 30, 2015 are as follows (in thousands): Total 2015 — remaining 3 months $ — 2016 3,000 2017 — 2018 — Thereafter 25,000 Total $ 28,000

The Company and Basis of Pres24

The Company and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Equity [Abstract]
Business incorporation, state country name	State of Delaware
Business incorporation, date	Dec. 19, 2000
Number of business segment	1

Need to Raise Additional Capi25

Need to Raise Additional Capital - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	[1]	Sep. 30, 2014	Dec. 31, 2013
Need To Raise Additional Capital Textual [Abstract]
Cash and cash equivalents	$ 11,287,000	$ 15,200,000		$ 11,626,000	$ 17,306,000
Working capital	$ 111,000
Operating and capital plans	12 months
[1]	The condensed consolidated balance sheet at December 31, 2014 has been derived from audited consolidated financial statements at that date.

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Inventory Disclosure [Abstract]
Additional cost of goods sold related to inventory		$ 1,229,000
Prepayments to supplier for lower housing assembly	$ 1,024,000	$ 1,024,000
Additional charges	$ 0

Fair Value Accounting - Financi

Fair Value Accounting - Financial Assets by Major Security Type and Contingent Consideration Liability Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents, fair value disclosure	$ 10,856	$ 14,960
Total assets	10,856	37,291
Liabilities
Contingent consideration liability	11,700	30,800
Total liabilities	11,700	30,800
Money Market Funds [Member]
Assets
Cash and cash equivalents, fair value disclosure	10,856	12,674
Corporate Debt Securities [Member]
Assets
Cash and cash equivalents, fair value disclosure		24,617
Level 1 [Member]
Assets
Total assets	10,856	12,674
Liabilities
Contingent consideration liability	0	0
Total liabilities	0	0
Level 1 [Member] | Money Market Funds [Member]
Assets
Cash and cash equivalents, fair value disclosure	10,856	12,674
Level 1 [Member] | Corporate Debt Securities [Member]
Assets
Cash and cash equivalents, fair value disclosure		0
Level 2 [Member]
Assets
Total assets	0	24,617
Liabilities
Contingent consideration liability	0	0
Total liabilities	0	0
Level 2 [Member] | Money Market Funds [Member]
Assets
Cash and cash equivalents, fair value disclosure	0	0
Level 2 [Member] | Corporate Debt Securities [Member]
Assets
Cash and cash equivalents, fair value disclosure		24,617
Level 3 [Member]
Assets
Total assets	0	0
Liabilities
Contingent consideration liability	11,700	30,800
Total liabilities	11,700	30,800
Level 3 [Member] | Money Market Funds [Member]
Assets
Cash and cash equivalents, fair value disclosure	$ 0	0
Level 3 [Member] | Corporate Debt Securities [Member]
Assets
Cash and cash equivalents, fair value disclosure		$ 0

Fair Value Accounting - Schedul

Fair Value Accounting - Schedule of Cash Equivalents and Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 0	$ 19,577
Fair Value	0	19,574	[1]
Unrealized Gain/(Loss)	0	(3)
Less amounts classified as restricted cash, Amortized Cost		(2,757)
Less amounts classified as restricted cash, Fair Value		(2,757)
Less amounts classified as cash equivalents, Amortized Cost	(10,856)	(14,960)
Less amounts classified as cash equivalents, Fair Value	(10,856)	(14,960)
Less amounts classified as cash equivalents, Unrealized Gain/(Loss)	0	0
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	10,856	12,674
Fair Value	10,856	12,674
Unrealized Gain/(Loss)	0	0
Less amounts classified as cash equivalents, Fair Value	$ (10,856)	(12,674)
Corporate Debt Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost		24,620
Fair Value		24,617
Unrealized Gain/(Loss)		(3)
Less amounts classified as cash equivalents, Fair Value		(24,617)
Total [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost		37,294
Fair Value		37,291
Unrealized Gain/(Loss)		$ (3)
[1]	The condensed consolidated balance sheet at December 31, 2014 has been derived from audited consolidated financial statements at that date.

Fair Value Accounting - Additio

Fair Value Accounting - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Disclosures [Abstract]
Sales of marketable securities	$ 0		$ 0		$ 0	$ 0
Cash flow discount rate		20.00%		16.50%
Increase / decrease in contingent consideration liability and non-operating, non-cash gain (loss)	$ 4,200,000		$ (1,100,000)		$ 18,232,000	$ 5,349,000
Increase (decrease) in net gain (loss) per share	$ 0.21		$ (0.06)		$ 0.92	$ 0.31
Estimated fair value of financing obligations	$ 50,378,000	$ 52,075,000			$ 50,378,000
Book values of financing obligations	$ 67,688,000	$ 63,767,000			$ 67,688,000

Fair Value Accounting - Fair Va

Fair Value Accounting - Fair Value Measurement of Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Disclosures [Abstract]
Beginning balance	$ 15,900	$ 32,500	$ 30,800	$ 39,200
Payments made	0	0	(868)	(251)
Adjustments to fair value measurement	(4,200)	1,100	(18,232)	(5,349)
Ending balance	$ 11,700	$ 33,600	$ 11,700	$ 33,600

Share-Based Compensation Plan31

Share-Based Compensation Plans - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised			$ 5,000		$ 26,000
Options exercised, Number of Shares		0		0
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares of common stock for issuance, Number of Shares	1,000,000
Effective date of plan				Jun. 23, 2015
Vesting period for stock options and restricted stock units	4 years
Maximum contractual term for issuing new grants stock options and restricted stock units	10 years
Shares available for issuance		2,095,596		2,095,596
2015 Non Employee Directors' Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares of common stock for issuance, Number of Shares	250,000
Vesting period for stock options and restricted stock units	1 year
Maximum contractual term for issuing new grants stock options and restricted stock units	10 years
Shares available for issuance		400,000		400,000
2015 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares of common stock for issuance, Number of Shares	500,000
Employees purchase common stock on their enrollment date	85.00%
Shares available for issuance under the ESPP		136,249		136,249

Share-Based Compensation Plan32

Share-Based Compensation Plans - Summary of Option Activity under Company's Share-Based Compensation Plans (Detail) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at January 1, 2015, Number of Shares		1,978,273
Options granted, Number of Shares		1,441,000
Options exercised, Number of Shares	0	0
Options canceled, Number of Shares		(703,211)
Outstanding at September 30, 2015, Number of Shares	2,716,062	2,716,062
Outstanding at January 1, 2015, Weighted Average Exercise Price		$ 7.10
Options granted, Weighted Average Exercise Price		1.18
Options exercised, Weighted Average Exercise Price		0
Options canceled, Weighted Average Exercise Price		(4.93)
Outstanding at September 30, 2015, Weighted Average Exercise Price	$ 4.52	$ 4.52

Share-Based Compensation Plan33

Share-Based Compensation Plans - Summary of Restricted Stock Units, or RSUs, Activity under Company's Share-Based Compensation Plans (Detail) - Restricted Stock Units [Member] - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 1, 2015, Number Of Shares			81,050
Granted, Number Of Shares			0
Released, Number Of Shares			(21,875)
Forfeited, Number Of Shares			(18,975)
Outstanding at September 30, 2015, Number Of Shares	40,200		40,200
Outstanding at January 1, 2015, Weighted Average Grant-Date Fair Value			$ 4.67
Granted, Weighted Average Grant-Date Fair Value	$ 0	$ 0	0	$ 0
Released, Weighted Average Grant-Date Fair Value			4.67
Forfeited, Weighted Average Grant-Date Fair Value			4.67
Outstanding at September 30, 2015, Weighted Average Grant-Date Fair Value	$ 4.67		$ 4.67

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Fair Value of Employee Stock Options Granted (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options	$ 0.74	$ 2.55	$ 0.80	$ 3.13
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units or Stock purchase rights	0	0	0	0
Stock Purchase Rights [Member] | 2005 ESPP and the 2015 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units or Stock purchase rights	$ 0.80	$ 1.04	$ 0.80	$ 1.48

Share-Based Compensation - Esti

Share-Based Compensation - Estimated Grant Date Fair Values of Stock Options with Weighted Average Assumptions (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	5 years	5 years	5 years	5 years
Expected volatility	87.00%	82.00%	87.00%	84.00%
Risk-free interest rate	1.63%	1.74%	1.61%	1.62%
Dividend yield	0.00%	0.00%	0.00%	0.00%
2005 ESPP and the 2015 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 months	6 months	6 months	6 months
Expected volatility	93.00%	36.00%	93.00%	61.00%
Risk-free interest rate	0.18%	0.10%	0.18%	0.67%
Dividend yield	0.00%	0.00%	0.00%	0.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual estimated forfeiture rate		20.00%	7.00%
Decrease in share-based compensation expense		$ 60,000
Share-based compensation capitalized	$ 0
Stock Purchase Rights [Member] | 2005 ESPP and the 2015 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	3,000	$ 3,000
Expenses expected to be recognized over a weighted average period		1 month 6 days
Restricted Stock Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	122,000	$ 122,000
Expenses expected to be recognized over a weighted average period		1 year 4 months 24 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense related to unvested stock option awards	$ 1,939,000	$ 1,939,000
Expenses expected to be recognized over a weighted average period		2 years 7 months 6 days

Net Loss per Share - Anti-Dilut

Net Loss per Share - Anti-Dilutive Securities Excluded from Net Loss per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	2,248,406	2,867,209	2,115,021	2,541,809
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	47,475	388,263	57,692	443,719
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	5,887,006	6,807,727	5,897,652	6,721,312
Shares Issuable Upon Conversion of Convertible Debt [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	5,576,250	5,382,363	5,479,306	4,657,757

Financing Obligations - Additio

Financing Obligations - Additional Information (Detail)

Sep. 28, 2015USD ($)Tranchesshares

Jun. 30, 2015USD ($)

Mar. 31, 2014USD ($)$ / sharesshares

Sep. 30, 2014USD ($)

Jun. 30, 2014USD ($)

Mar. 31, 2014USD ($)$ / sharesshares

Dec. 31, 2013USD ($)

Sep. 30, 2013USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2014USD ($)

Dec. 31, 2014USD ($)

Jan. 01, 2016USD ($)

May. 31, 2015

May. 31, 2013USD ($)$ / shares

Debt Instrument [Line Items]

Borrowing under loan agreement

$ 2,914,000

$ 50,830,000

Non-recourse notes issued

$ 45,000,000

Warrants to purchase common stock | shares

345,661

345,661

Price of common stock per share | $ / shares

$ 0.01

$ 0.01

Warrant exercisable term

5 years

Interest reserve

$ 6,890,000

$ 6,890,000

Estimated life of the warrant

5 years

Expected volatility rate

87.00%

Risk-free interest rate

1.54%

Expected dividend yield

0.00%

Interest expense amortization period

5 years

Total value of warrants

$ 1,721,000

$ 1,721,000

1,721,000

0

1,721,000

Total fees and expenses

$ 4,171,000

Common stock value of shares issued

2,000

$ 2,000

[1]

Financing from royalty securitization

$ 45,000,000

Royalty securitization financing legal maturity date

2,027

Teva Pharmaceuticals USA, Inc. [Member]

Debt Instrument [Line Items]

Debt instrument payment terms

We may prepay, from time to time, up to one-half of the total amounts advanced plus the related interest outstanding at any time prior to the maturity date. At any time prior to five days before the maturity date, Teva will have the right to convert the then outstanding amounts into shares of our common stock at a conversion price of $4.4833 per share.

Debt instrument conversion price per share | $ / shares

$ 4.4833

Debt instrument interest rate

4.00%

Borrowing under loan agreement

$ 5,000,000

$ 5,000,000

$ 5,000,000

$ 10,000,000

25,000,000

Interest expense under right-to-borrow asset

$ 0

$ 216,000

Debt instrument amendment description

Included in the amendment is a cessation of interest accrual during the suspension of the Company’s obligation to manufacture ADASUVE product for Teva from the date of the amendment to July 1, 2017, or the Suspension Period, with reinstatement of interest accrual if Teva submits a purchase order after July 1, 2017 and before December 31, 2017. In addition, the maturity date of the Teva Note is extended from May 7, 2018 to a new maturity date which includes the addition of the number of days in the Suspension Period.

Debt instrument, effective interest rate

5.20%

11.60%

6.60%

11.60%

10.20%

14.20%

9.70%

Debt instrument, basis effective interest rate

The effective interest rate of the Teva Note, based on its current book value and revised interest terms and estimated maturity date, was reduced from 9.7% prior to the amendment to 5.2% after the amendment.

Teva Pharmaceuticals USA, Inc. [Member] | Maximum [Member]

Debt Instrument [Line Items]

Aggregate term loan advances

$ 25,000,000

Ferrer Note [Member]

Debt Instrument [Line Items]

Debt instrument, effective interest rate

10.50%

Number of tranches | Tranches

2

Common stock shares issued | shares

125,000

Percentage of common stock issued recorded as discount to promissory notes

60.00%

Percentage of common stock issued capitalized

40.00%

Common stock value of shares issued

$ 143,750

Ferrer Note [Member] | Promissory Note [Member]

Debt Instrument [Line Items]

Debt instrument interest rate

6.00%

Ferrer Note [Member] | Maximum [Member] | Promissory Note [Member]

Debt Instrument [Line Items]

Principal amount of promissory note

$ 5,000,000

Ferrer Promissory Note Initial Tranche [Member] | Promissory Note [Member]

Debt Instrument [Line Items]

Principal amount of promissory note

$ 3,000,000

Ferrer Promissory Note Tranche Two [Member] | Forecast [Member] | Promissory Note [Member]

Debt Instrument [Line Items]

Principal amount of promissory note

$ 2,000,000

Teva Note [Member]

Debt Instrument [Line Items]

Debt instrument, effective interest rate

12.25%

12.25%

First quarterly interest payment

Jun. 15, 2014

Notes redemption description

The Notes have no other recourse to us. The Notes may not be redeemed at our option until after March 18, 2016, and may be redeemed after that date subject to the achievement of certain milestones and the payment of a redemption premium for any redemption occurring prior to March 19, 2019.

Teva Note [Member] | Maximum [Member]

Debt Instrument [Line Items]

Aggregate term loan advances

$ 25,000,000

Increase in loan amount for reimbursement of manufacturing facility rent

$ 1,675,000

[1]

The condensed consolidated balance sheet at December 31, 2014 has been derived from audited consolidated financial statements at that date.

Financing Obligations - Schedul

Financing Obligations - Schedule of Effective Interest Rate Drawdown after Taking into Consideration Beneficial Ownership Features and Right to Borrow Asset Discount (Detail) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jun. 30, 2015	May. 31, 2015
Debt Instrument [Line Items]
Draw Amount					$ 2,914,000	$ 50,830,000
Beneficial Conversion Feature					$ 0	$ 1,032,000
Teva Pharmaceuticals USA, Inc. [Member]
Debt Instrument [Line Items]
Draw Amount	$ 5,000,000	$ 5,000,000	$ 5,000,000	$ 10,000,000			$ 25,000,000
Beneficial Conversion Feature	148,000	883,000	657,000	2,455,000
Reclassified Unamortized Right-to-Borrow	$ 252,000	$ 318,000	$ 393,000	$ 900,000
Debt instrument, effective interest rate	6.60%	11.60%	10.20%	14.20%				5.20%	9.70%

Financing Obligations - Long Te

Financing Obligations - Long Term Debt Payments by Year (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
2015 - remaining 3 months	$ 0
2,016	3,000
2,017	0
2,018	0
Thereafter	25,000
Total	$ 28,000

Facility Leases - Additional In

Facility Leases - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Lease
Leases [Abstract]
Expiry of lease of Building	Mar. 31, 2018
Operating leases maturity period	5 years
Number of lease renewal options	2

License Agreements - Additional

License Agreements - Additional Information (Detail) - USD ($)

Oct. 31, 2014

Mar. 31, 2012

Oct. 05, 2011

Jan. 31, 2015

Oct. 31, 2014

Jan. 31, 2014

May. 31, 2013

Mar. 31, 2012

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2014

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

License agreement, amendment description

The Teva Amendment provides for, among other matters: (i) suspension of our obligation to manufacture ADASUVE product during the Suspension Period, with reinstatement if Teva submits a purchase order after July 1, 2017 and before December 31, 2017; (ii) a right for Teva to manufacture ADASUVE product itself; (iii) provides for Teva to reasonably consent to our assignment of the manufacturing rights under the Teva Agreement to a third party; (iv) suspends certain commercialization obligations of Teva during the Suspension Period; (v) provides us the right to increase the loan amount under the Teva Note for reimbursement of the Company’s manufacturing facility rent through the Suspension Period, up to a maximum of $1,675,000; (vi) provides for consent by Teva, under certain conditions, to the sale of all of our ADASUVE manufacturing facility assets and any assignment of manufacturing rights and obligations by us to a third party; and (vii) if we have assigned, sublicensed, subcontracted, delegated or otherwise transferred our manufacturing rights to a third party, further provides for a right of first offer to Teva with respect to the sale of our ADASUVE manufacturing facility assets.

License amendment agreement date

2015-06

Maximum [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Increase in loan amount for reimbursement of facility rent

$ 1,675,000

Grupo Ferrer Internacional, S.A. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Upfront cash received under collaborative arrangement

$ 10,000,000

Eligible receipt of additional milestone payments

51,000,000

$ 40,000,000

License agreement contractual terms

Until the later of the last to expire patent covering ADASUVE in such country or 12 years after first commercial sale.

License agreement term period

12 years

Aggregate purchase price

2,000,000

241,936

Purchase of common stock, value

$ 8,000,000

$ 3,000,000

Common stock price, per share

$ 4

$ 12.40

$ 4

$ 12.40

Estimated performance period of agreement

4 years

Revenue under agreement

$ 712,000

$ 613,000

$ 1,954,000

$ 1,838,000

Deferred revenue

$ 3,600,000

3,600,000

Upfront cash received under collaborative arrangement

$ 1,000,000

Symphony Allegro Incorporation [Member] | Grupo Ferrer Internacional, S.A. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Payment related to common stock

$ 865,000

Upfront payment [Member] | Grupo Ferrer Internacional, S.A. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Premium on the fair value from sale of stock, classified as deferred revenue

$ 2,400,000

$ 1,452,000

Teva Pharmaceuticals USA, Inc. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Upfront cash received under collaborative arrangement

$ 40,000,000

Eligible receipt of additional milestone payments

195,000,000

Sale of notes backed by royalty and milestone payments

$ 45,000,000

Guarantee of notes

The notes have no recourse to us, other than to our equity interest in our wholly-owned subsidiary, and we did not guarantee the notes.

Number of years from effective date to receive note advances

2 years

Eligible receipt of additional payments

$ 195,000,000

Teva Pharmaceuticals USA, Inc. [Member] | Maximum [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Aggregate term loan advances

$ 25,000,000

Symphony Allegro Incorporation [Member] | Grupo Ferrer Internacional, S.A. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Payments to former stockholders under collaborative arrangement

$ 5,000,000

$ 250,000

Symphony Allegro Incorporation [Member] | Teva Pharmaceuticals USA, Inc. [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Payments to former stockholders under collaborative arrangement

$ 10,000,000

Autoliv Manufacturing and Sup43

Autoliv Manufacturing and Supply Agreement - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Additional charges	$ 0
Autoliv ASP, Inc. [Member]
Debt Instrument [Line Items]
Agreement termination year		2,018
Additional manufacturing cell cost		$ 2,400,000
Additional cost of goods sold recorded		1,381,000
Equipment carrying value	0	0
Equipment fair value	0	$ 0
Additional charges	$ 0

Restructuring - Additional Info

Restructuring - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)Employees
Restructuring Cost and Reserve [Line Items]
Additional cost of goods sold related to inventory		$ 1,229,000
Prepayments to supplier for lower housing assembly	$ 1,024,000	$ 1,024,000
Additional charges	0
Severance payment description		Each affected employee received (i) severance payments equal to three months of salary plus an additional amount equal to one week of salary for each year of Alexza service in excess of five years; and (ii) three months of paid medical insurance premiums and outplacement services, or in total, the Severance Package.
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Aggregate cost of severance package	1,230,000	$ 1,230,000
Number of employees eliminated | Employees		33
Severance package cost	455,000	$ 673,000
Employee Severance [Member] | If Employees Position is Not Eliminated [Member]
Restructuring Cost and Reserve [Line Items]
Aggregate cost of severance package	1,481,000	1,481,000
Severance package cost	$ 873,000	$ 1,172,000