Alexza Pharmaceuticals (ALXA +4%) gives back a little but remains firmly in the green following a +7% run-up during the pre-open session on an earlier upgrade from Piper Jaffray to Overweight. Piper notes that it's channel checks with ER physicians, psychiatrists, and opinion leaders was even more encouraging than it expected on both the near and longer-term market potential for Adasuve versus previous projections. Additionally, it's clinical attributes bode well for a value-added partnership being signed soon to enable effective launch in Q3.
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