Cortex's CEO Roger Stoll to Speak at the Bear Stearns 20th Annual Healthcare Conference, New York, on September 10th, 2007.

IRVINE, Calif. -- Cortex Pharmaceuticals, Inc. (AMEX: COR) Chairman, President and CEO, Roger G. Stoll, Ph.D., will speak at the Bear Stearns 20th Annual Healthcare Conference being held at the Grand Hyatt Park Avenue at Grand Central Terminal on Monday, September 10th, 2007 at 2:00 p.m. EDT (11:00 a.m. PDT). The conference will feature companies spanning all sectors of healthcare.

Dr. Stoll will give a brief corporate overview and an update on the Company's latest clinical developments, including the recent Food and Drug Administration response that gave Cortex the go-ahead to immediately resume enrollment in its CX717 Alzheimer's positron emission tomography (PET) scan study at all requested dose levels. An update on the status of filing the CX717 Investigational New Drug ("IND") application for use in the treatment of ADHD also will be provided.

Additionally, Dr. Stoll will expand on the possibilities for using the AMPAKINE[R] drugs in the treatment of respiratory depression. The potential of an accelerated development program primarily targeting treatment of acute respiratory depression and a simultaneous longer-term program evaluating treatment of various forms of sleep apnea will be addressed.

A live webcast of the presentation can be accessed by logging onto http://cc.talkpoint.com/BEAR002/091007a_sc/?entity=cortex and a replay will be available for 30 days following the conference.

Cortex Pharmaceuticals, Inc.

Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for neurological and psychiatric disorders. Cortex is pioneering a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. The loss of these connections is thought to be responsible for memory and behavior problems in Alzheimer's disease. Many psychiatric diseases, including schizophrenia, occur as a result of imbalances in the brain's neurotransmitter system. These imbalances may be improved by using the AMPAKINE technology. Cortex has an alliance with N.V. Organon for the treatment of schizophrenia and depression. In December 2006, Cortex terminated the research collaboration with Servier enabling Cortex to pursue the use of AMPAKINE compounds in the treatment of neurodegenerative diseases on a global basis. Servier retained the right to select up to three compounds developed during the collaboration for further development for the treatment of neurodegenerative diseases. Cortex may receive additional milestones and royalties if either Organon or Servier is successful in developing and commercializing AMPAKINE compounds. For additional information regarding Cortex, please visit Cortex Pharmaceuticals' Website at www.cortexpharm.com.

Forward-Looking Statement

Note - This press release contains forward-looking statements concerning the Company's research and development activities. The success of such activities depends on a number of factors, including the risks that the Company's proposed compounds may at any time be found to be unsafe or ineffective for the indications under clinical test and that clinical studies may at any point be suspended or take substantially longer than anticipated to complete. As discussed in the Company's Securities and Exchange Commission filings, the Company's proposed products will require additional research, lengthy and costly clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease.