UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

NOTICE OF EXEMPT SOLICITATION

1.     Name of the Registrant:

CPEX Pharmaceuticals, Inc.

2.     Name of person relying on exemption:

The Mangrove Partners Fund, L.P.

3.     Address of person relying on exemption:

10 East 53rd Street, 31st Floor, New York, New York 10022

4.     Written materials.  Attach written materials required to be submitted pursuant to Rule 14a-6(g)(1) [§240.14a-6(g)(1)]

Exhibit 1: Press Release of The Mangrove Partners Fund, L.P. issued February 28, 2011.

Exhibit 2: Presentation