ORANGE COUNTY EARNINGS

CoCensys Inc.: The Irvine biopharmaceutical company said it nearly halved its first-quarter loss to $3.2 million, or 15 cents a share, from $6.1 million, of 27 cents a share, a year earlier. Revenue fell 38%, to $1.1 million, in the three months ended March 31, from $1.8 million a year earlier. Chief executive F. Richard Nichol said last year’s restructuring lowered the company’s costs, which contributed to the improved results.