CoCensys Loss Widens but Revenue Rises

CoCensys Inc. reported that its net loss widened in the third quarter while revenue climbed 38%.

The biopharmaceutical company posted a net loss of $6.6 million, or 29 cents a share, compared with a loss of $5.8 million, or 26 cents a share, for the same period last year. The company said its research and development expenses rose 36% to $5.8 million primarily because of clinical testing on one of its products.

Revenue for the quarter climbed to $1.8 million from $1.3 million.

For the first nine months, the company lost $13.9 million, or 62 cents a share, compared with a loss of $12 million, or 55 cents a share, a year ago. Revenue rose 12.1% to $11.1 million from $9.9 million.