CoCensys Posts ’96 Net Loss of $18.5 Million

IRVINE — CoCensys Inc., which develops products to treat neurological and psychiatric disorders, reported a net loss of $18.5 million, or 85 cents a share, for 1996, compared with a net loss of $18.1 million, or $1.05 a share, for 1995. Revenue rose 23%, to $15.2 million from $12.4 million. The net loss for the fourth quarter was $6.4 million, or 29 cents a share, compared with a net loss of $1.5 million, or 8 cents a share, for the same period last year. Revenue declined 30%, to $5.3 million from $7.6 million.