Two of Division Three's inform sides cancelled each other out but it will be Steve Tilson's Southend who will be the happier with this point.
Former Cambridge manager John Taylor salvaged a point for the Cobblers with a headed equaliser seven minutes from time but the Cobblers twice had to come from behind to extend their unbeaten home record in the league to ten matches.
Southend went in front from the penalty spot in the 16th minute after Ashley Westwood brought down Tes Bramble and Leon Constantine scored his 24th goal of the season from the spot, although Lee Harper managed to get a hand to the ball.
The home side drew level seven minutes later when Eric Sabin was pushed in the back by Nicky Nicolau and Martin Smith converted his 14th goal of the season, his first for two months.
Disaster struck Northampton in first half injury time when skipper Paul Reid inexplicably fired a Constantine cross into his own net to give the Shrimpers an initiative they looked like holding.
Indeed, they often played the more polished football in the second half and could have wrapped it up when Kevin Maher sent Mark Gower through on goal only for the midfielder to blaze over the crossbar.
Taylor's landmark first goal for his new club arrived seven minutes from time, when he rose unmarked to head in Smith's free kick.
That was disappointing for Southend boss Steve Tilson as he said: "I couldn't see Northampton getting back into it at that stage. I thought we played better in the second half when we created two or three good chances. It was a point gained although it's disappointing as we were leading so late on." Southend had a hiccup to their preparations when Mark Warren injured an ankle during the warm-up, his place taken by Jamie Stuart. And when Bramble went off at half time, that was the third ankle injury suffered by members of Tilson's squad after Drew Broughton's injury in the week.
Cobblers manager Colin Calderwood said: "There is no doubt that the pressure of trying to get the win affected the players today. It is frustrating to have only taken two points from six in our home matches this week but we have come up against two inform sides."