Cortex's CEO Roger Stoll to Speak at the Roth Capital Partners New York Conference on September 5, 2007.

IRVINE, Calif. -- Cortex Pharmaceuticals, Inc. (AMEX: COR) Chairman, President and CEO, Roger G. Stoll, Ph.D., will speak at the Roth Capital Partners New York Conference at the Westin New York at Times Square on Wednesday, September 5, 2007 at 4:00 pm EDT (1:00 pm PDT) in the Broadway III conference room. The conference will feature over 230 small-cap companies across a broad spectrum of sectors, including technology, healthcare, financial services and consumer products.

Dr. Stoll will give a brief corporate overview, as well as provide an update on the latest clinical developments, including the recent FDA response that gave Cortex the go-ahead to immediately resume enrollment in their CX717 Alzheimer's positron emission tomography (PET) scan study at all requested dose levels. The study was originally designed with doses of 200mg, 600mg, and 1200mg to be administered to the patients. However, the FDA had previously limited the dose levels such that the 600mg and 1200mg doses could not be administered. The new protocol approved by the FDA allows a return to the original dose levels, with the upper dose being 1200mg. With the removal of the foregoing dose restrictions, the Company can now resume study of CX717 at all dose levels defined in its original protocol.

Dr. Stoll will also discuss recent new developments obtained from the University of Alberta in animal studies which demonstrate that both High and Low impact AMPAKINE[R] drugs are effective in overcoming the respiratory depression caused by opiate analgesic compounds. The potential for both acute and chronic applications of AMPAKINE drugs for the treatment of respiratory depression disorders may be realized due to these findings. The Company is currently assessing both CX717 and CX701 for rapidly moving forward with clinical trials for acute applications in respiratory depression.

Dr. Stoll will also provide an update on other clinical developments and strategies. Cortex plans to file an Investigational New Drug ("IND") application with the Psychiatric Drug Products Division of the FDA for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) in adults in early September 2007. Also, as a result of the completion of the recently announced financing of Cortex, the Company anticipates developing both CX701 and CX1763 as clinical drug candidates. Cortex expects to file an IND for CX701 during the fourth quarter of 2007 and CX1763 is undergoing IND-enabling studies as well. Therefore, the Company is planning to have three AMPAKINE compounds in clinical development by mid-2008. Dr. Roger Stoll, the Chief Executive Officer and Chairman of Cortex stated that "having multiple compounds in our drug development pipeline has been a major objective for Cortex and with the recent financing we have the financial means to work toward a realization of those objectives for our Company during 2008. A more robust development pipeline will improve the chances for achieving clinical success."

A live webcast of the presentation can be accessed by logging onto http://www.wsw.com/webcast/roth13/cor/ and a replay will be available for 45 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. The forward-looking statements are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Cortex, all as more fully described in the risk factors and other matters set forth in Cortex's Annual Report on Form 10-K for the year ended December 31, 2006, and Cortex's other filings with the Securities and Exchange Commission, 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. Cortex disclaims any intent or obligation to update any forward-looking statements.