Cortex to Begin Trading on The American Stock Exchange; - New Symbol Will Be 'COR' -

Apr 30, 2001, 01:00 ET from Cortex Pharmaceuticals, Inc.

    IRVINE, Calif., April 30 /PRNewswire/ -- Cortex Pharmaceuticals, Inc.
 (OTC Bulletin Board:   CORX) announced today that its shares of common stock had
 been approved for listing on The American Stock Exchange.  The shares are
 expected to begin trading on the Exchange during the week of May 7, 2001,
 under the ticker symbol COR.  The Company's shares will cease trading on the
 Over the Counter Bulletin Board on the same date.
     "We are very pleased to join The American Stock Exchange," said Vincent F.
 Simmon, Ph.D., President and Chief Executive Officer of Cortex.  "There are
 many benefits of an exchange listing, including a substantially enhanced
 visibility.  Through its investor relations programs and services, we believe
 that listing on the AMEX will help us build long-term value for our
 shareholders.  Currently our share price is not quoted in daily newspapers
 because we are a bulletin board stock.  In addition, many investment funds
 that might have an interest in Cortex are not permitted to take positions in
 stocks that are not listed on one of the major exchanges."
     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 weakening or loss of these connections is thought to
 be responsible for memory difficulties from Alzheimer's disease and to
 contribute to cognitive dysfunction in schizophrenia.  A recently completed
 study with AMPAKINE CX516 in patients with schizophrenia indicated improvement
 in a number of symptoms also common to patients with ADHD.  Cortex has
 alliances with NV Organon for the potential treatment of schizophrenia and
 depression, and with Shire Pharmaceuticals Group for the evaluation and
 potential licensing of the AMPAKINE technology and molecules as a treatment
 for attention deficit hyperactivity disorder (ADHD).  Cortex has licensed the
 AMPAKINE technology in Europe and Asia to Les Laboratoires Servier of Paris
 for a number of age and disease related neurodegenerative conditions including
 Alzheimer's disease, Mild Cognitive Impairment and dementias associated with
 diseases such as multiple sclerosis and Parkinson's disease.
 
     Website: http://www.cortexpharm.com/
 
     Note - This press release contains forward-looking statements concerning
 the Company's research and development activities and business development
 plans.  Actual results may differ materially, depending on a number of risk
 factors, including the risks that the Company may be unable to secure
 additional capital needed to continue its operations; that the Company may be
 unable to arrive at corporate partnerships with additional pharmaceutical
 companies on acceptable terms and therefore be required to independently fund
 clinical development of AMPAKINE molecules through the sale of additional
 equity securities or otherwise; that the Company's proposed products may at
 any time be found to be toxic or ineffective for any or all of their proposed
 indications; that competitors may challenge or design around the Company's
 patents or develop competing technologies; 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.  The AMPAKINE
 molecules are investigational drugs and have not yet been shown to have
 efficacy in the treatment of any disease.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X75582031
 
 

SOURCE Cortex Pharmaceuticals, Inc.
    IRVINE, Calif., April 30 /PRNewswire/ -- Cortex Pharmaceuticals, Inc.
 (OTC Bulletin Board:   CORX) announced today that its shares of common stock had
 been approved for listing on The American Stock Exchange.  The shares are
 expected to begin trading on the Exchange during the week of May 7, 2001,
 under the ticker symbol COR.  The Company's shares will cease trading on the
 Over the Counter Bulletin Board on the same date.
     "We are very pleased to join The American Stock Exchange," said Vincent F.
 Simmon, Ph.D., President and Chief Executive Officer of Cortex.  "There are
 many benefits of an exchange listing, including a substantially enhanced
 visibility.  Through its investor relations programs and services, we believe
 that listing on the AMEX will help us build long-term value for our
 shareholders.  Currently our share price is not quoted in daily newspapers
 because we are a bulletin board stock.  In addition, many investment funds
 that might have an interest in Cortex are not permitted to take positions in
 stocks that are not listed on one of the major exchanges."
     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 weakening or loss of these connections is thought to
 be responsible for memory difficulties from Alzheimer's disease and to
 contribute to cognitive dysfunction in schizophrenia.  A recently completed
 study with AMPAKINE CX516 in patients with schizophrenia indicated improvement
 in a number of symptoms also common to patients with ADHD.  Cortex has
 alliances with NV Organon for the potential treatment of schizophrenia and
 depression, and with Shire Pharmaceuticals Group for the evaluation and
 potential licensing of the AMPAKINE technology and molecules as a treatment
 for attention deficit hyperactivity disorder (ADHD).  Cortex has licensed the
 AMPAKINE technology in Europe and Asia to Les Laboratoires Servier of Paris
 for a number of age and disease related neurodegenerative conditions including
 Alzheimer's disease, Mild Cognitive Impairment and dementias associated with
 diseases such as multiple sclerosis and Parkinson's disease.
 
     Website: http://www.cortexpharm.com/
 
     Note - This press release contains forward-looking statements concerning
 the Company's research and development activities and business development
 plans.  Actual results may differ materially, depending on a number of risk
 factors, including the risks that the Company may be unable to secure
 additional capital needed to continue its operations; that the Company may be
 unable to arrive at corporate partnerships with additional pharmaceutical
 companies on acceptable terms and therefore be required to independently fund
 clinical development of AMPAKINE molecules through the sale of additional
 equity securities or otherwise; that the Company's proposed products may at
 any time be found to be toxic or ineffective for any or all of their proposed
 indications; that competitors may challenge or design around the Company's
 patents or develop competing technologies; 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.  The AMPAKINE
 molecules are investigational drugs and have not yet been shown to have
 efficacy in the treatment of any disease.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X75582031
 
 SOURCE  Cortex Pharmaceuticals, Inc.

RELATED LINKS

http://www.cortexpharm.com