UPDATE 1-Alexza Pharma posts wider Q1 net loss

(Recasts; adds details)

May 12 (Reuters) - Medical device developer Alexza Pharmaceuticals Inc (ALXA.O: Quote, Profile, Research, Stock Buzz) posted a wider first-quarter net loss, hurt by increased research and development expenses.

It reported a net loss of $14.6 million, or 47 cents a share, compared with a net loss of $10.9 million, or 46 cents a share, a year earlier.

Analysts on average expected a loss of 48 cents a share, before special items, according to Reuters Estimates.

Expenses rose during the quarter due to increased spending on product candidates AZ-004, a treatment for acute agitation in patients with schizophrenia or bipolar disorder, and AZ-104, which is a treatment for acute migraine, Alexza said.

Costs related to device development and ramp up of manufacturing processes also led to higher expenses.

R&D expenses increased almost 44 percent to $14.7 million. Total operating expenses rose 39 percent to $19.2 million.

Shares of the Palo Alto, California-based company closed at $6.08 Monday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Himani Sarkar)