IRVINE, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Cortex Pharmaceuticals, Inc. (AMEX: COR) reported a net loss of $2,530,000 ($0.08 per share) for the quarter ended September 30, 2005, compared with a net loss of $1,511,000 ($0.05 per share) for the corresponding prior year period. For the nine months ended September 30, 2005, Cortex reported a net loss of $7,867,000 ($0.24 per share) compared with a net loss of $3,699,000 ($0.14 per share) for the corresponding prior year period. Increased net losses in the current year periods primarily reflect research and development expenses, including amounts for the AMPAKINE(R) compound, CX717, which is currently in Phase IIa studies in Attention Deficit Hyperactivity Disorder, mild to moderate Alzheimer’s disease and a shift work protocol being conducted by DARPA (Defense Advanced Research Projects Agency). Results from these studies are anticipated during the first quarter of 2006. The enrollment phase of the ADHD study was completed before the end of October 2005, while the shift work protocol is just being initiated by DARPA.
