Alexza Pharmaceuticals, Inc. (Alexza) is a pharmaceutical company focused on the research, development and commercialization of products for the acute treatment of central nervous system (CNS) conditions. Alexza�s product candidates are based on its technology, the Staccato system. The Staccato system vaporizes an excipient-free drug to form a condensation aerosol that, when inhaled, allows for systemic drug delivery. As of December 31, 2011, the Company had screened more than 400 drug compounds, identifying approximately 200 drug compounds that demonstrate initial vaporization. The Company's product candidate is ADASUVE (Staccato loxapine). The Company's other product candidates in active development are AZ-007 (Staccato zaleplon) and Staccato nicotine. the Company's product candidates not in active development are AZ-104 (Staccato loxapine, low-dose), AZ-002 (Staccato alprazolam) and AZ-003 (Staccato fentanyl). In January 2011, Cypress was acquired by Royalty Pharma.