Losses Rise at NeoTherapeutics

NeoTherapeutics Inc., Irvine developer of treatments for neurological diseases and conditions, reported a fourth-quarter net loss of $12.2 million, or $1.45 a share, compared with a net loss of $3.5 million, or 59 cents a share, for the fourth quarter of 1998. The net loss in 1999 included a one-time, noncash charge of $2.5 million related to the settlement of litigation against the company by several former employees. For the year, the company reported a net loss of $26 million, or $3.66 a share, compared with a net loss of $11.6 million, or $2.07 a share, for the prior year. No revenue was reported.