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SHALSON RESIGNS AS PRESIDENT & CEO OF CORTEX

 SHALSON RESIGNS AS PRESIDENT & CEO OF CORTEX
 IRVINE, Calif., Nov. 19 /PRNewswire/ -- Cortex Pharmaceuticals


Inc. (NASDAQ: CORX) announced today that Vaughan H. J. Shalson has tendered his resignation as president and chief executive officer. It is anticipated that Shalson will continue to serve as president and chief executive officer until Dec. 19, 1991, the effective date of his resignation.
 Dr. Harvey S. Sadow, chairman, said, "Cortex has benefited greatly from the leadership and guidance of Vaughan Shalson in the 14 months since he joined the company, and I sincerely regret that family circumstances have led to his departure after this relatively brief tenure. He will be missed by both the employees and directors of Cortex."
 Shalson, who plans to rejoin his family in the Bay Area, confirmed that his resignation was based on personal reasons. He also withdrew his name from management's slate of nominees for election to the company's board of directors at the annual meeting of shareholders to be held on Nov. 20, 1991.
 Cortex, a leading-edge neurological drug discovery company, is developing products for the treatment and diagnosis of age-related diseases and disorders of the brain.
 -0- 11/19/91
 /CONTACT: D. Scott Hagen, VP finance & administration of Cortex Pharmaceuticals Inc., 714-727-3157/
 (CORX) CO: Cortex Pharmaceuticals Inc. ST: California IN: MTC SU: PER SE-CH -- LA026 -- 5056 11/19/91 15:05 EST
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Publication:PR Newswire
Date:Nov 19, 1991
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