CoSensys Stock Sale to Raise $22 Million

CoSensys Inc. said Thursday that it will sell 2.5 million shares of common stock to raise $22 million for research and development of drugs to treat disorders of the central nervous system.

The shares, priced at $9 apiece, will be offered on Feb. 5. The company had hoped that underwriter Montgomery Securities in San Francisco would set the price between $11 and $13 a share.

CoSensys will have 8,961,216 common shares outstanding after the February sale.