CoCensys, Watson deal

COCN sold its Pharmaceutical Sales and Marketing division to Watson's Watson Laboratories Inc. subsidiary (see Noteworthy, BioCentury Part I). COCN received $6 million up front, and will receive an additional $3 million conditioned on certain events over the next year, including the retention of the sales force by Watson. COCN estimated that the sale would reduce its annual net burn rate by $3 million. ...