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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

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    <TD align="left" valign="top">As filed with the Securities and
Exchange Commission on March 20, 2006
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Registration No.&nbsp;333-&#95;&#95;&#95;</TD>
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<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 0pt"><B>ALEXZA PHARMACEUTICALS, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>77-0567768</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Alexza Pharmaceuticals, Inc.<BR>
1020 East Meadow Circle<BR>
Palo Alto, California 94303<BR>
(650)&nbsp;687-3900</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
(Address of principal executive offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2005 Equity Incentive Plan<BR>
2005 Non-Employee Directors&#146; Stock Option Plan<BR>
2005 Employee Stock Purchase Plan</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
(Full title of the plans)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Thomas B. King<BR>
President and Chief Executive Officer<BR>
Alexza Pharmaceuticals, Inc.<BR>
1020 East Meadow Circle<BR>
Palo Alto, California 94303<BR>
(650)&nbsp;687-3900</B><BR>
(Name, address, including zip code, and telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Copies to:<BR>
<B>James C. T. Linfield, Esq.<BR>
Brent Fassett, Esq.</B><BR>
<FONT style="font-variant: SMALL-CAPS"><B>Cooley Godward llp</B></FONT><BR>
<B>380 Interlocken Crescent, #900<BR>
Broomfield, Colorado 80021<BR>
(720)&nbsp;566-4000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="15" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 3px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%" style="border-right: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 3px solid #000000">&nbsp;</TD>

    <TD nowrap align="center">Title of Securities</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Offering</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Aggregate</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
    <TD width="1%" style="border-right: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 3px solid #000000">&nbsp;</TD>

    <TD nowrap align="center">to be Registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to be Registered <SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Price per Share</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Offering Price</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Registration Fee</TD>
    <TD width="1%" style="border-right: 3px solid #000000">&nbsp;</TD>
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                    <TD align="center" style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value<BR>
$0.001 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">2,992,287 shares <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$1.880-$8.650 <SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$13,033,497.59</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$1,394.58</TD>
    <TD width="1%" style="border-right: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value<BR>
$0.001 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">250,000 shares <SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$8.000-$8.650 <SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$2,032,500.00</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$217.48</TD>
    <TD width="1%" style="border-right: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value<BR>
$0.001 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">500,000 shares <SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$8.650 <SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$4,325,000.00</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$462.78</TD>
    <TD width="1%" style="border-right: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" style="border-top: 2px solid #000000"><DIV style="margin-left:30px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000"><B>N/A</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000"><B>$19,390,997.59</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000"><B>$2,074.84</B></TD>
    <TD width="1%" style="border-right: 3px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>

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<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">









<DIV align="left">&nbsp;
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
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    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416(a), this Registration Statement shall also cover any additional
shares of Registrant&#146;s Common Stock that become issuable under the plan by reason of
any stock dividend, stock split, recapitalization or other similar transaction effected
without receipt of consideration that increases the number of outstanding shares of
Registrant&#146;s Common Stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents 2,992,287 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Equity Incentive Plan (the &#147;2005 EIP&#148;), which number
consists of: (i)&nbsp;1,898,048 shares of Common Stock reserved for future issuance upon the
exercise of options and (ii)&nbsp;1,094,239 shares of Common Stock available for future
issuance. Any of such shares of Common Stock that are subject to awards that expire or
are terminated without having been exercised in full or are repurchased, reacquired or
forfeited following the effective date of the 2005 EIP will be available for future
issuance under the 2005 EIP.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents 250,000 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Non-Employee Directors&#146; Stock Option Plan (the &#147;2005
NEDSOP&#148;), which number consists of: (i)&nbsp;200,000 shares of Common Stock reserved for
future issuance upon the exercise of options and (ii)&nbsp;50,000 shares of Common Stock
available for future issuance. The 2005 NEDSOP provides that an additional number of
shares will automatically be added annually to the shares authorized for issuance under
the 2005 NEDSOP on the first day of the Registrant&#146;s fiscal year, from 2007 until 2015.
The number of shares added each year will be equal to the lesser of
either (a)&nbsp;the aggregate
number of shares subject to options granted under the 2005 NEDSOP during the
immediately preceding fiscal year (less the number of shares which revert to and become
available for issuance under the Plan) or (b)&nbsp;a lesser number of shares of Common
Stock as may be determined each year by the Registrant&#146;s board of directors.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents 500,000 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Employee Stock Purchase Plan (the &#147;2005 ESPP&#148;). The 2005
ESPP provides that an additional number of shares will automatically be added annually
to the shares authorized for issuance under the 2005 ESPP on the first day of the
Registrant&#146;s fiscal year, from 2007 until 2016. The number of shares added each year
will be equal to the lesser of: (i)&nbsp;one percent (1.0%) of the fully-diluted shares of
Common Stock outstanding on December&nbsp;31 of the immediately preceding calendar year,
(ii)&nbsp;250,000 shares of Common Stock or (iii)&nbsp;a lesser number of shares of Common Stock
as may be determined each year by the Registrant&#146;s board of directors to be added to
the share reserve as of a particular January 1.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price are
calculated using: (i)
a weighted average exercise price of $1.88 per share for such shares issued and
outstanding under the 2005 EIP and (ii)&nbsp;the average of the high and low prices of
Registrant&#146;s Common Stock as reported on the Nasdaq National Market on March&nbsp;10, 2006.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price are
calculated using: (i)
the price per share of the Registrant&#146;s Common Stock in the initial public offering of
the Registrant&#146;s Common Stock, as set forth in the Registrant&#146;s Prospectus filed with
the Securities and Exchange Commission on March&nbsp;8, 2006 (File No.&nbsp;333-130644) pursuant
to Rule 424(b) under the Securities Act and (ii)&nbsp;the average of the high and low prices
of Registrant&#146;s Common Stock as reported on the Nasdaq National Market on March&nbsp;14,
2006.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price for the shares of Common
Stock are calculated based on the average of the high and low prices of Registrant&#146;s
Common Stock as reported on the Nasdaq National Market on March&nbsp;14, 2006.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PLAN INFORMATION</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">ITEM 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">ITEM 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">ITEM 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">ITEM 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">ITEM 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="f18810exv5w1.htm">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="f18810exv23w1.htm">EXHIBIT 23.1</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>

<!-- link2 "ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PLAN INFORMATION" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 1.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>PLAN
 INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with
 this Registration Statement.
</DIV>

<!-- link2 "ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 2.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>REGISTRANT
 INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed
 with this Registration Statement.
</DIV>
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>

<!-- link2 "ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 3.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>INCORPORATION
 OF CERTAIN DOCUMENTS BY REFERENCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by
 Alexza Pharmaceuticals, Inc. (the &#147;Registrant&#148;) with the
Securities and Exchange Commission (the &#147;Commission&#148;) are incorporated by reference into this Registration
 Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a)&nbsp;</B>The
 Registrant&#146;s prospectus filed on March&nbsp;8, 2006 pursuant to Rule 424(b) under the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;), relating to the registration statement
on Form S-1 (File No.&nbsp;333-130644), as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b)&nbsp;</B>The
 description of the Registrant&#146;s Common Stock which is contained in a registration
statement on Form 8-A filed on February&nbsp;23, 2006 (File No.&nbsp;000-51820), under the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), including any amendment or report filed for
the purpose of updating such description.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c)&nbsp;</B>All
 other reports and other documents subsequently filed by the
Registrant pursuant to
Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be
a part of this registration statement from the date of the filing of such reports and documents.
</DIV>
<!-- link2 "ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION OF SECURITIES" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 4.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>DESCRIPTION OF SECURITIES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "ITEM 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 5.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>INTERESTS OF NAMED EXPERTS AND COUNSEL</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the issuance of the common stock offered by this prospectus and certain other
legal matters are being passed upon for us by our counsel, Cooley Godward LLP, Palo Alto,
California.
</DIV>
<!-- link2 "ITEM 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 6.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>INDEMNIFICATION
 OF DIRECTORS AND OFFICERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s Amended and
 Restated Certificate of Incorporation provides that a director
will not be personally liable to the registrant or to its stockholders for monetary damages for any
breach of fiduciary duty as a director to the fullest extent permitted by Section&nbsp;102 of Delaware
General Corporation Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by Section&nbsp;145
 of the Delaware General Corporation Law, the bylaws of the
Registrant provide that (i)&nbsp;the Registrant is required to indemnify its directors and executive
officers to the fullest extent not prohibited by the Delaware General Corporation Law, (ii)&nbsp;the
Registrant may, in its discretion, indemnify its other employees and agents as set forth in the
Delaware General Corporation Law, (iii)&nbsp;the Registrant is required to advance all expenses incurred
by its directors and executive officers in connection with certain legal proceedings,
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(iv)&nbsp;the rights conferred in the bylaws are not
 exclusive, and (v)&nbsp;the Registrant is
authorized to enter into indemnity agreements with its directors, officers, employees and agents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has entered
 into agreements with its directors and officers that require the
Registrant to indemnify these persons against expenses, judgments, fines, settlements, and other
amounts that any such person becomes legally obligated to pay (including with respect to a
derivative action) in connection with any proceeding, whether actual or threatened, to which such
person may be made a party by reason of the fact that such person is or was a director or officer
of the Registrant or any of its affiliates. The indemnity agreements also set forth certain
procedures that will apply in the event of a claim for indemnification thereunder. At present, no
litigation or proceeding is pending that involves a director or officer of the registrant regarding
which indemnification is sought, nor is the registrant aware of any threatened litigation that may
result in claims for indemnification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains
 a directors&#146; and officers&#146; insurance and Registrant reimbursement
policy. The policy (i)&nbsp;insures directors and officers against losses for which the Registrant does
not indemnify and which losses arise from certain wrongful acts in the indemnified parties&#146;
capacities as directors and officers and (ii)&nbsp;reimburses the registrant for those losses for which
the registrant has lawfully indemnified the directors and officers. The policy contains various
exclusions, none of which apply to the offering.
</DIV>
<!-- link2 "ITEM 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXEMPTION FROM REGISTRATION CLAIMED" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 7.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>EXEMPTION
 FROM REGISTRATION CLAIMED</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "ITEM 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 8.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restated Certificate of Incorporation, currently in effect</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws, currently in effect</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Cooley Godward <FONT style="font-variant: SMALL-CAPS">LLP</FONT></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Independent Registered Public Accounting Firm</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT>. Reference is made to Exhibit&nbsp;5.1.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Equity Incentive Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2<SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Non-Employee Directors&#146; Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3<SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Employee Stock Purchase Plan</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;4.1 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;3.1 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;3.6 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.4 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.6 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.8 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein</TD>
</TR>

</TABLE>


<!-- link2 "ITEM 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNDERTAKINGS" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>UNDERTAKINGS</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a)&nbsp;</B>To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(i)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by section 10(a)(3) of the
Securities Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ii)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate offering price set
forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration
statement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(iii)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Provided, however, </I>that paragraphs (a)(i) and (a)(ii) do not apply if the information required
to be included in a post-effective amendment by those paragraphs is contained in reports filed with
or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the
Exchange Act that are incorporated by reference in the registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b)&nbsp;</B>That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c)&nbsp;</B>To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(d)&nbsp;</B>That, for the purpose of determining liability of the registrant under the Securities Act
to any purchaser in the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this
registration statement, regardless of the underwriting method used to sell the securities to the
purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(i)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any preliminary prospectus or prospectus of the undersigned registrant
relating to the offering required to be filed pursuant to Rule&nbsp;424;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(ii)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any free writing prospectus relating to the offering prepared by or on
behalf of the undersigned registrant or used or referred to by the undersigned
registrant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(iii)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned registrant or its
securities provided by or on behalf of the undersigned registrant; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(iv)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any other communication that is an offer in the offering made by the
undersigned registrant to the purchaser.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&#146;s annual report pursuant to section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it
is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Palo Alto, State of California, on March
20, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><FONT style="font-variant: SMALL-CAPS"><B>Alexza Pharmaceuticals, Inc.</B></FONT><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ <FONT style="font-variant: SMALL-CAPS">Thomas B. King</FONT>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Thomas B. King,&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements
 of the Securities Act of 1933, as amended, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Thomas B. King
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Thomas B. King</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
President, Chief Executive
Officer and Director
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ August J. Moretti
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
August J. Moretti</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Senior Vice President and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Samuel D. Colella</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;___, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Alan D. Frazier
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Alan D. Frazier</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Ernest Mario
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Ernest Mario</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Deepika R. Pakianathan</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;___, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ J. Leighton Read
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
J. Leighton Read</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Gordon Ringold
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Gordon Ringold</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Isaac Stein
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Isaac Stein</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Alejandro A. Zaffaroni
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Alejandro A. Zaffaroni</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 20, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBITS" -->
<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restated Certificate of Incorporation, currently in effect</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws, currently in effect</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Cooley Godward <FONT style="font-variant: SMALL-CAPS">LLP</FONT></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Independent Registered Public Accounting Firm</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT>. Reference is made to Exhibit&nbsp;5.1.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Equity Incentive Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2<SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Non-Employee Directors&#146; Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3<SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Employee Stock Purchase Plan</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;4.1 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;3.1 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;3.6 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.4 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.6 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed as Exhibit&nbsp;10.8 to the Registrant&#146;s Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December&nbsp;22, 2005, and
incorporated by reference herein</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
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sv8
Table of Contents
As filed with the Securities and
Exchange Commission on March 20, 2006
Registration No. 333-___
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ALEXZA PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
77-0567768
(State of Incorporation)
(I.R.S. Employer Identification No.)
Alexza Pharmaceuticals, Inc.
1020 East Meadow Circle
Palo Alto, California 94303
(650) 687-3900
(Address of principal executive offices)
2005 Equity Incentive Plan
2005 Non-Employee Directors' Stock Option Plan
2005 Employee Stock Purchase Plan
(Full title of the plans)
Thomas B. King
President and Chief Executive Officer
Alexza Pharmaceuticals, Inc.
1020 East Meadow Circle
Palo Alto, California 94303
(650) 687-3900
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
James C. T. Linfield, Esq.
Brent Fassett, Esq.
Cooley Godward llp
380 Interlocken Crescent, #900
Broomfield, Colorado 80021
(720) 566-4000
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities
Offering
Aggregate
Amount of
to be Registered
Amount to be Registered
(1)
Price per Share
Offering Price
Registration Fee
Common Stock, par value
$0.001 per share
2,992,287 shares
(2)
$1.880-$8.650
(5)
$13,033,497.59
$1,394.58
Common Stock, par value
$0.001 per share
250,000 shares
(3)
$8.000-$8.650
(6)
$2,032,500.00
$217.48
Common Stock, par value
$0.001 per share
500,000 shares
(4)
$8.650
(7)
$4,325,000.00
$462.78
Total
N/A
$19,390,997.59
$2,074.84
Table of Contents
(1)
Pursuant to Rule 416(a), this Registration Statement shall also cover any additional
shares of Registrant's Common Stock that become issuable under the plan by reason of
any stock dividend, stock split, recapitalization or other similar transaction effected
without receipt of consideration that increases the number of outstanding shares of
Registrant's Common Stock.
(2)
Represents 2,992,287 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Equity Incentive Plan (the "2005 EIP"), which number
consists of: (i) 1,898,048 shares of Common Stock reserved for future issuance upon the
exercise of options and (ii) 1,094,239 shares of Common Stock available for future
issuance. Any of such shares of Common Stock that are subject to awards that expire or
are terminated without having been exercised in full or are repurchased, reacquired or
forfeited following the effective date of the 2005 EIP will be available for future
issuance under the 2005 EIP.
(3)
Represents 250,000 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Non-Employee Directors' Stock Option Plan (the "2005
NEDSOP"), which number consists of: (i) 200,000 shares of Common Stock reserved for
future issuance upon the exercise of options and (ii) 50,000 shares of Common Stock
available for future issuance. The 2005 NEDSOP provides that an additional number of
shares will automatically be added annually to the shares authorized for issuance under
the 2005 NEDSOP on the first day of the Registrant's fiscal year, from 2007 until 2015.
The number of shares added each year will be equal to the lesser of
either (a) the aggregate
number of shares subject to options granted under the 2005 NEDSOP during the
immediately preceding fiscal year (less the number of shares which revert to and become
available for issuance under the Plan) or (b) a lesser number of shares of Common
Stock as may be determined each year by the Registrant's board of directors.
(4)
Represents 500,000 shares of Common Stock reserved for future grant under the Alexza
Pharmaceuticals, Inc. 2005 Employee Stock Purchase Plan (the "2005 ESPP"). The 2005
ESPP provides that an additional number of shares will automatically be added annually
to the shares authorized for issuance under the 2005 ESPP on the first day of the
Registrant's fiscal year, from 2007 until 2016. The number of shares added each year
will be equal to the lesser of: (i) one percent (1.0%) of the fully-diluted shares of
Common Stock outstanding on December 31 of the immediately preceding calendar year,
(ii) 250,000 shares of Common Stock or (iii) a lesser number of shares of Common Stock
as may be determined each year by the Registrant's board of directors to be added to
the share reserve as of a particular January 1.
(5)
Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price are
calculated using: (i)
a weighted average exercise price of $1.88 per share for such shares issued and
outstanding under the 2005 EIP and (ii) the average of the high and low prices of
Registrant's Common Stock as reported on the Nasdaq National Market on March 10, 2006.
(6)
Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price are
calculated using: (i)
the price per share of the Registrant's Common Stock in the initial public offering of
the Registrant's Common Stock, as set forth in the Registrant's Prospectus filed with
the Securities and Exchange Commission on March 8, 2006 (File No. 333-130644) pursuant
to Rule 424(b) under the Securities Act and (ii) the average of the high and low prices
of Registrant's Common Stock as reported on the Nasdaq National Market on March 14,
2006.
(7)
Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering
price per share and proposed maximum aggregate offering price for the shares of Common
Stock are calculated based on the average of the high and low prices of Registrant's
Common Stock as reported on the Nasdaq National Market on March 14, 2006.
TABLE OF CONTENTS
PART I
ITEM 1.     PLAN INFORMATION
ITEM 2.     REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
PART II
ITEM 3.     INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
ITEM 4.     DESCRIPTION OF SECURITIES
ITEM 5.     INTERESTS OF NAMED EXPERTS AND COUNSEL
ITEM 6.     INDEMNIFICATION OF DIRECTORS AND OFFICERS
ITEM 7.     EXEMPTION FROM REGISTRATION CLAIMED
ITEM 8.     EXHIBITS
ITEM 9.     UNDERTAKINGS
SIGNATURES
EXHIBITS
EXHIBIT 5.1
EXHIBIT 23.1
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
ITEM 1.
PLAN
 INFORMATION
Not required to be filed with
 this Registration Statement.
ITEM 2.
REGISTRANT
 INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
Not required to be filed
 with this Registration Statement.
PART II
ITEM 3.
INCORPORATION
 OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed by
 Alexza Pharmaceuticals, Inc. (the "Registrant") with the
Securities and Exchange Commission (the "Commission") are incorporated by reference into this Registration
 Statement:
(a)
The
 Registrant's prospectus filed on March 8, 2006 pursuant to Rule 424(b) under the
Securities Act of 1933, as amended (the "Securities Act"), relating to the registration statement
on Form S-1 (File No. 333-130644), as amended.
(b)
The
 description of the Registrant's Common Stock which is contained in a registration
statement on Form 8-A filed on February 23, 2006 (File No. 000-51820), under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), including any amendment or report filed for
the purpose of updating such description.
(c)
All
 other reports and other documents subsequently filed by the
Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be
a part of this registration statement from the date of the filing of such reports and documents.
ITEM 4.
DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5.
INTERESTS OF NAMED EXPERTS AND COUNSEL
The validity of the issuance of the common stock offered by this prospectus and certain other
legal matters are being passed upon for us by our counsel, Cooley Godward LLP, Palo Alto,
California.
ITEM 6.
INDEMNIFICATION
 OF DIRECTORS AND OFFICERS
The Registrant's Amended and
 Restated Certificate of Incorporation provides that a director
will not be personally liable to the registrant or to its stockholders for monetary damages for any
breach of fiduciary duty as a director to the fullest extent permitted by Section 102 of Delaware
General Corporation Law.
As permitted by Section 145
 of the Delaware General Corporation Law, the bylaws of the
Registrant provide that (i) the Registrant is required to indemnify its directors and executive
officers to the fullest extent not prohibited by the Delaware General Corporation Law, (ii) the
Registrant may, in its discretion, indemnify its other employees and agents as set forth in the
Delaware General Corporation Law, (iii) the Registrant is required to advance all expenses incurred
by its directors and executive officers in connection with certain legal proceedings,
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(iv) the rights conferred in the bylaws are not
 exclusive, and (v) the Registrant is
authorized to enter into indemnity agreements with its directors, officers, employees and agents.
The Registrant has entered
 into agreements with its directors and officers that require the
Registrant to indemnify these persons against expenses, judgments, fines, settlements, and other
amounts that any such person becomes legally obligated to pay (including with respect to a
derivative action) in connection with any proceeding, whether actual or threatened, to which such
person may be made a party by reason of the fact that such person is or was a director or officer
of the Registrant or any of its affiliates. The indemnity agreements also set forth certain
procedures that will apply in the event of a claim for indemnification thereunder. At present, no
litigation or proceeding is pending that involves a director or officer of the registrant regarding
which indemnification is sought, nor is the registrant aware of any threatened litigation that may
result in claims for indemnification.
The Registrant maintains
 a directors' and officers' insurance and Registrant reimbursement
policy. The policy (i) insures directors and officers against losses for which the Registrant does
not indemnify and which losses arise from certain wrongful acts in the indemnified parties'
capacities as directors and officers and (ii) reimburses the registrant for those losses for which
the registrant has lawfully indemnified the directors and officers. The policy contains various
exclusions, none of which apply to the offering.
ITEM 7.
EXEMPTION
 FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8.
EXHIBITS
Exhibit
Number
4.1
(1)
Specimen common stock certificate
4.2
(2)
Restated Certificate of Incorporation, currently in effect
4.2
(3)
Amended and Restated Bylaws, currently in effect
5.1
Opinion of Cooley Godward
LLP
23.1
Consent of Independent Registered Public Accounting Firm
23.2
Consent of Cooley Godward
llp
. Reference is made to Exhibit 5.1.
99.1
(4)
2005 Equity Incentive Plan
99.2
(5)
2005 Non-Employee Directors' Stock Option Plan
99.3
(6)
2005 Employee Stock Purchase Plan
(1)
Previously filed as Exhibit 4.1 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
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(2)
Previously filed as Exhibit 3.1 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(3)
Previously filed as Exhibit 3.6 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(4)
Previously filed as Exhibit 10.4 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(5)
Previously filed as Exhibit 10.6 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(6)
Previously filed as Exhibit 10.8 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein
ITEM 9.
UNDERTAKINGS
1.
The undersigned Registrant hereby undertakes:
(a)
To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i)
To include any prospectus required by section 10(a)(3) of the
Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate offering price set
forth in the "Calculation of Registration Fee" table in the effective registration
statement; and
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
Provided, however,
that paragraphs (a)(i) and (a)(ii) do not apply if the information required
to be included in a post-effective amendment by those paragraphs is contained in reports filed with
or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in the registration statement.
(b)
That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(c)
To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
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(d)
That, for the purpose of determining liability of the registrant under the Securities Act
to any purchaser in the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this
registration statement, regardless of the underwriting method used to sell the securities to the
purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:
(i)
Any preliminary prospectus or prospectus of the undersigned registrant
relating to the offering required to be filed pursuant to Rule 424;
(ii)
Any free writing prospectus relating to the offering prepared by or on
behalf of the undersigned registrant or used or referred to by the undersigned
registrant;
(iii)
The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned registrant or its
securities provided by or on behalf of the undersigned registrant; and
(iv)
Any other communication that is an offer in the offering made by the
undersigned registrant to the purchaser.
2.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant's annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
3.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it
is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Palo Alto, State of California, on March
20, 2006.
Alexza Pharmaceuticals, Inc.
By:
/s/
Thomas B. King
Thomas B. King,
President and Chief Executive Officer
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Pursuant to the requirements
 of the Securities Act of 1933, as amended, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Thomas B. King
Thomas B. King
President, Chief Executive
Officer and Director
(Principal Executive Officer)
March 20, 2006
/s/ August J. Moretti
August J. Moretti
Senior Vice President and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
March 20, 2006
Samuel D. Colella
Director
March ___, 2006
/s/ Alan D. Frazier
Alan D. Frazier
Director
March 20, 2006
/s/ Ernest Mario
Ernest Mario
Director
March 20, 2006
Deepika R. Pakianathan
Director
March ___, 2006
/s/ J. Leighton Read
J. Leighton Read
Director
March 20, 2006
/s/ Gordon Ringold
Gordon Ringold
Director
March 20, 2006
/s/ Isaac Stein
Isaac Stein
Director
March 20, 2006
/s/ Alejandro A. Zaffaroni
Alejandro A. Zaffaroni
Director
March 20, 2006
Table of Contents
EXHIBITS
Exhibit
Number
4.1
(1)
Specimen common stock certificate
4.2
(2)
Restated Certificate of Incorporation, currently in effect
4.2
(3)
Amended and Restated Bylaws, currently in effect
5.1
Opinion of Cooley Godward
LLP
23.1
Consent of Independent Registered Public Accounting Firm
23.2
Consent of Cooley Godward
llp
. Reference is made to Exhibit 5.1.
99.1
(4)
2005 Equity Incentive Plan
99.2
(5)
2005 Non-Employee Directors' Stock Option Plan
99.3
(6)
2005 Employee Stock Purchase Plan
(1)
Previously filed as Exhibit 4.1 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(2)
Previously filed as Exhibit 3.1 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(3)
Previously filed as Exhibit 3.6 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(4)
Previously filed as Exhibit 10.4 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(5)
Previously filed as Exhibit 10.6 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein.
(6)
Previously filed as Exhibit 10.8 to the Registrant's Registration Statement on Form S-1, as
amended (333-130644), originally filed with the Commission on December 22, 2005, and
incorporated by reference herein