Cortex Pharmaceuticals Inc.

The Irvine drug development company reported a net loss of $468,728, or 3 cents a share, for the fourth fiscal quarter, compared with a net loss of $1.2 million, or 12 cents a share, for the year-earlier period. The company had operating revenue of $690,000 for the quarter ended June 30. No revenue was reported for the fourth quarter last year. For the year, the company posted a net loss of $1.6 million, or 12 cents a share, compared with a net loss of $5.3 million, or 55 cents a share, for fiscal 1998. Operating revenue increased to $3.2 million from $130,000.