Cortex's CEO to Present at the JMP Securities Research Conference and Cortex's COO to Present at the Neurotech Industry Investing & Partnering Conference

IRVINE, CA (May 16, 2007) — Cortex Pharmaceuticals, Inc. (AMEX: COR), Chairman, President and CEO, Roger G. Stoll, Ph.D., will speak at the 6th Annual JMP Securities Research Conference to be held at The Ritz-Carlton Hotel located at 600 Stockton Street in San Francisco, California. Dr. Stoll will speak at 3:30 pm PST on May 21, 2007 in Salon II.  The conference will feature over 217 small-cap companies across a broad spectrum of sectors, including technology, healthcare, financial services and consumer products.

Dr. Stoll will provide an update on the Company’s progress on its two distinct classes of Ampakine® product candidates, termed high and low impact compounds. Cortex’s most advanced low impact Ampakine product candidate is CX717, a Phase IIa novel treatment for ADHD with proof-of-concept in adult patients. Dr. Stoll will also report animal findings on the ability of selective high Ampakine compounds to restore deficits found in brain growth factors associated with a number of neurodegenerative diseases.  

Dr. Mark Varney, Ph.D., Cortex’s CSO & COO, will participate in the 2nd Annual Neurotech Industry Organization (NIO) Conference to be held at the Westin San Francisco Hotel from May 17-18, 2007.  Dr. Varney will participate with three other neuroscience company executives in a panel discussion that will be moderated by Dr. Harry Tracy, Publisher, Neuroinvestment.  The topic of discussion will be “Advances in Neuropsychiatry.” The session will take place between 10:45 am and 12:00 noon on Thursday, May 17, 2007.

About Cortex
Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for neurological and psychiatric disorders.  The Company 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 alliances with N.V. Organon for the treatment of schizophrenia and depression and with Les Laboratoires Servier for the development of Ampakine compounds to treat the neurodegenerative effects associated with aging and disease, including Mild Cognitive Impairment, Alzheimer’s disease and anxiety disorders.  For additional information regarding Cortex, please visit Cortex Pharmaceuticals’ Website at www.cortexpharm.com.   

Note -- This press release contains forward-looking statements anticipating results of future research and development activities and the possible clinical uses of AMPAKINE compounds, 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. Cortex disclaims any intent or obligation to update any forward-looking statements.