COR Cortex Pharmaceuticals,

Cortex Pharmaceuticals, Inc. (AMEX: COR, http://www.cortexpharm.com) reported a net loss of $3,947,000, or $0.08 per share for the quarter ended June 30, 2008 compared with a net loss of $2,850,000, or $0.07 per share for the corresponding prior year period. Non-cash stock-based compensation charges for the quarters ended June 30, 2008 and 2007 totaled approximately $339,000 and $416,000, respectively. For the six months ended June 30, 2008, Cortex reported a net loss of $8,318,000, or $0.17 per share compared to a net loss of $6,734,000, or $0.17 per share for the corresponding prior year period. Non cash stock-based compensation charges for the six months ended June 30, 2008 and 2007 were approximately $746,000 and $1,069,000, respectively. Operating results for the three and six months ended June 30, 2008 reflect increased clinical development expenses, including costs related to the company�s two Phase IIa human clinical trials of AMPAKINE� CX717 as a potential acute treatment for respiratory depression. As recently reported, top-line results from the first clinical study demonstrated that a single oral dose of 2100mg of CX717 has positive effects on respiratory depression induced by alfentanil, a pain-relieving opiate. The primary performance measures for the study were derived from a re-breathing procedure that measured the breathing response of the subject to increased CO2 levels in the presence of the opiate. The primary measure, the minute expiratory volume (VE) at 55mgHg CO2 (VE55), was reversed by 2100mg of CX717 in comparison to placebo (p