CoCensys Inc.

The Irvine developer of drugs to treat neurological and psychiatric disorders posted a fourth-quarter net loss of $3.6 million, or 15 cents a share. A year ago, the company lost $1.9 million, or 8 cents a share, which included a gain of $4.7 million from the sale of its sales and marketing division. Revenue, which consisted of co-promotion and co-development items, declined 17% to $700,000 from $845,000.

For the year, the company reported a net loss of $15.2 million, or 70 cents a share, compared with a net loss of $15.8 million, or 70 cents a share, for 1997. Revenue fell to $2.6 million from $11.9 million.