AMPAKINES SHOWN TO ENHANCE THE EFFECT OF DRUGS

          Used to Treat Schizophrenia in Animal Experiments 

Combination Allays Adverse Side Effects of Newer Antipsychotics

IRVINE, Calif., April 12 /PRNewswire/ -- Scientists at Cortex Pharmaceuticals, Inc. (OTC Bulletin Board: CORX) and the University of California, Irvine (UCI), led by Steven Johnson, Ph.D. of Cortex have published results in The Journal of Pharmacology and Experimental Therapeutics (JPET) demonstrating that Ampakines(R) can act synergistically with drugs commonly used to treat patients with schizophrenia. The article entitled, "Synergistic Interactions Between Ampakines and Antipsychotic Drugs," is published in Volume 289(1):pp 392-397.

The tests were performed in rats given methamphetamine after which their locomotor activity (movement around the cage) was measured electronically. Previous studies led by John Larson, formerly of UCI, and Gary Lynch of UCI, had demonstrated that Ampakines can substantially reduce or eliminate the hyperactivity induced by methamphetamine, an effect common to all antipsychotic medications. In the newly published study, Ampakines were combined with either typical antipsychotics such as haloperidol, or atypical antipsychotics including clozapine or risperidone.

"In all of the tests, the researchers observed at least an additive effect of an Ampakine with an antipsychotic medication," said Vincent F. Simmon, Ph.D., President and CEO of Cortex. "What was unexpected and exciting was the observation that Ampakines appeared to dramatically increase the effect of the newer atypical antipsychotics. Adverse side effects are commonly observed with existing antipsychotic medications, which limit the dose that may be helpful to patients. The concept we have developed is that Ampakines could be combined with an antipsychotic drug such as clozapine to improve the effects of clozapine at doses that do not cause side effects."

A study of the combination of an Ampakine, CX516, in combination with clozapine in patients with schizophrenia was recently completed by Donald Goff, M.D. Results from this trial will be presented on April 18, 1999 by Dr. Goff at the International Society for Schizophrenia Research in Santa Fe, New Mexico. Dr. Goff is Medical Director, Freedom Trail Clinic, Erich Lindemann Mental Health Center, Harvard Medical School in Boston, MA.

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 Ampakines, which act to increase the strength of signals at connections between brain cells. Aberrant neural connections or loss of these connections is believed to be responsible for the memory difficulties associated with Alzheimer's disease and to contribute to the memory and cognitive dysfunction seen in schizophrenia.

This press release contains forward-looking statements concerning
the Company's research and development activities and business
activities. Actual results may differ materially, depending on a
number of risk factors, including the risks that competitors may
challenge or design around the Company's patents or develop competing
technologies; 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 larger pharmaceutical
companies on acceptable terms and therefore be required to
independently fund clinical development of Ampakines 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; 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 Ampakines, including CX516, are
investigational drugs and have not yet been shown to have efficacy in
the treatment of any disease.
SOURCE Cortex Pharmaceuticals, Inc.

-0-                             04/12/99 /CONTACT:  Vincent F. Simmon, 
Ph.D., President and CEO of Cortex Pharmaceuticals, Inc., 949-727-3157; 
or Bruce Russell, Investor Relations of Russell Communications Group, 
310-216-1414, for Cortex Pharmaceuticals, Inc./ 

/Company News On-Call: http://www.prnewswire.com/comp/208450.html or fax, 800-758-5804, ext. 208450/

/Web site: http://www.cortexpharm.com/ (CORX) CO: Cortex Pharmaceuticals, Inc.; University of California, Irvine;

International Society for Schizophrenia Research; Harvard Medical School ST: California, New Mexico, Massachusetts IN: MTC SU: