New Shares Bring $15.8 Million

CoCensys Inc. grossed about $15.8 million in an offering of 2.43 million common shares at $6.50 a share, mainly to institutional investors.

The biopharmaceutical company, which develops and markets products to treat neurological and psychiatric disorders, said the proceeds, along with existing funds, will be used for research and development of the company’s products and for general corporate purposes.