April 28, 1999 |
CoCensys Inc., the struggling Irvine biomedical company, said Tuesday that it will undertake a corporate restructuring that, among other things, will cost 34 Orange County workers their jobs. The news comes on the heels of another quarterly loss for the company, this time amounting to $2.8 million. The job cuts represent nearly 40% of the company's staff of 91 employees.
April 14, 1999 |
Stock of CoCensys Inc., a struggling biomedical company in Irvine, resumed trading Tuesday following an investigation by the Nasdaq stock market into unusual trading activity. CoCensys shares, which stopped trading Thursday at 22 cents, closed Tuesday at the same price. Nasdaq halted trading in the stock to investigate a report that 100 CoCensys shares had sold March 31 at 6 cents a share, far less than the market price. The company knew of no explanation for the unusual trade.
April 10, 1999 |
CoCensys Inc., a struggling Irvine biomedical company, said Friday that the Nasdaq stock market halted trading of its stock apparently because of an unusual $6 trade last week. CoCensys Chairman F. Richard Nichol said the investigation was triggered March 31, when 100 shares of CoCensys sold at 6 cents apiece. At the time, he said, Nasdaq's computers showed buyers were willing to pay nearly four times as much, and the company notified Nasdaq of the irregular price.
March 25, 1999
Two Orange County companies that are facing the loss of their stock listings on the Nasdaq National Market are appealing to market officials. Both L.L. Knickerbocker Co. in Lake Forest and CoCensys Inc. in Irvine have been warned by Nasdaq that their stocks may be delisted because the prices have fallen below $1 a share. Knickerbocker, whose shares were once among the hottest performers in the market, said it has asked Nasdaq for a hearing to argue for continued listing.
December 5, 1998 |
Nasdaq officials are threatening to drop CoCensys Inc. from the national market listings because its stock price has fallen below $1 a share, the Irvine company said Friday. CoCensys, which develops treatments for psychiatric and neurological disorders, said it meets all other requirements for Nasdaq listing, and is considering a reverse stock split to reduce the number of shares and increase their price.
November 10, 1998 |
Research headaches continue at CoCensys Inc. The Irvine developer of experimental treatments for neurological and psychiatric disorders said recently that its drug ganaxolone had no "statistically significant" effect in relieving pain for acute-migraine sufferers in a clinical trial that included 325 patients at 19 clinics across the nation.