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SECURITY DELETIONS
Updated Symbol Company Name Effective Date Unit of
Trade Comments
16:24 MIPLQ Molecular Insight Pharmaceuticals, Inc. Wt Exp 144A 5/23/2011 100 Plan of bankruptcy effective. All shares have been cancelled.
All the common shares will soon be canceled per today's company news
The current market value $379,025 at the 52-week low $0.015 is still
ridiculous high as a CH11 stock! I bet the pos scam will soon create
another new low 0.003 ~ 0.004 because the soon-exit-from-CH11 CGSYQ/
WLVTQ is only trading at $67K/$80K market value at the bottom price!
Still have untill May 16th too trade happy hunting
Yep,
Don't own any. Was waiting for sub .01 Nice find.
Smitter SMTT
commons to be cancelled..
Molecular Insight Accepts Alternative Transaction Proposal and Files Amended Plan of Reorganization
Mar 8, 2011 3:35:00 PM
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Email story | Discuss on ZenoBank | View more ads CAMBRIDGE, MA -- (MARKET WIRE) -- 03/08/11 -- Molecular Insight Pharmaceuticals, Inc. (OTCQB: MIPIQ) (PINKSHEETS: MIPIQ) today announced that it had accepted an alternative transaction proposal regarding its restructuring and filed an amended plan of reorganization and an amended disclosure statement with the U.S. Bankruptcy Court for the District of Massachusetts in connection with the Company's Chapter 11 reorganization case that was commenced on December 9, 2010 under the U.S. Bankruptcy Code.
Previously, the Court entered an order authorizing the assumption by the Company of an Investment Agreement with Savitr Capital LLC and further authorized the Company to actively solicit, during a 30-day period commenced on January 20, 2011, inquiries, proposals, offers, and bids from, and negotiate with, any person regarding any alternative transaction such as an acquisition, or other sale or purchase transaction or refinancing. During this period the Company received an alternative transaction proposal from certain holders of the Company's Senior Secured Floating Rate Bonds due 2012 and negotiated that proposal with those holders. The Board of Directors of the Company determined that the Bondholder proposal would offer a better chance for the Company's successful emergence from Chapter 11 and constituted a superior proposal. On March 1, 2011 the Board authorized the Company to enter into a Plan Support Agreement with certain holders of the Bonds (the "Consenting Bondholders") and related letter agreements with certain of the Consenting Bondholders and their affiliate entities reflecting the alternative transaction. As a result, the Company notified Savitr of its termination of the existing Investment Agreement.
Under the Plan Support Agreement and the related letter agreements, the Consenting Bondholders are committed to support an amended plan of reorganization, pursuant to which, among other things (i) in exchange for the discharge of the Bonds, the holders of the Bonds will receive a 100% equity interest in the reorganized Company in the form of preferred stock, and the existing equity securities of the Company will be cancelled, (ii) certain of the Consenting Bondholders and their affiliate entities have committed to provide (a) if requested by the Company, a debtor-in-possession (DIP) financing of up to $10 million, and (b) an exit financing facility of $40 million (the proceeds from which will be used to repay the DIP financing, among other things), subject to certain conditions, and (iii) the Company will become a private company. In exchange for the commitments to provide the DIP financing and the exit financing, the Company will pay certain fees in the form of cash and warrants to the DIP lenders and exit financing lenders or their affiliate entities making such commitments, the cash component of which the Company currently estimates to be approximately $2 million.
The Bondholder alternative transaction plan is subject to a number of conditions, including, but not limited to, the emergence of Molecular Insight from bankruptcy protection by May 16, 2011, adherence to a cash collateral budget, as well as certain bankruptcy-related preconditions, including the entry of certain final orders by the Bankruptcy Court incorporating, among other items, a confirmation order related to the amended plan of reorganization. There is no assurance either that the Court will approve the amended plan of reorganization, or that the alternative transaction will be consummated.
The Plan Support Agreement and related letter agreements are being filed on Form 8-K with the Securities and Exchange Commission ("SEC").
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is a clinical-stage biopharmaceutical company and pioneer in molecular medicine. The Company is focused on the discovery, development, and commercialization of targeted therapeutic and molecular imaging pharmaceuticals for use in oncology. Molecular Insight has five clinical-stage candidates in development. For further information, please visit the Company's website: www.molecularinsight.com.
Forward-Looking Statements
Statements in this release that are not strictly historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our pending Chapter 11 filing, contemplated debt-for-equity exchange and debtor-in-possession financing and exit financing, cancellation of existing equity interest in the Company, possibility of becoming a private company, and our ability to consummate the transactions contemplated by the Plan Support Agreement or otherwise. Such forward-looking statements may also include, but are not limited to, the potential adverse impact of the Chapter 11 proceedings on our business, financial condition, or results of operations; our ability to maintain adequate liquidity to fund our operations during the Chapter 11 proceedings and to fund a plan of reorganization and thereafter; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time, and to develop, prosecute, confirm, and consummate our plan of reorganization and the transactions contemplated by such plan; general economic conditions; the timing and expenses related to Chapter 11 restructuring or otherwise; and those factors identified in our filings with the SEC. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of Molecular Insight to be materially different from historical results or from any results expressed or implied by such forward-looking statements. The risks and uncertainties and the terms of any reorganization plan ultimately confirmed can affect the value of our various pre-petition liabilities, common stock and/or other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of our liabilities and/or securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and/or securities is highly speculative. Accordingly, we urge that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Investors and other interested parties can obtain information about our court filings and claims information on www.omnimgt.com/molecular. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The Company's SEC filings are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov. Press releases for Molecular Insight Pharmaceuticals, Inc. are available on our website: http://www.molecularinsight.com. If you would like to receive press releases via e-mail, please contact: investor@molecularinsight.com. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contact:
Mark A. Attarian
Interim Executive Vice President and
Chief Financial Officer
617.492.5554 617.492.5554
mattarian@molecularinsight.com
Source: Molecular Insight Pharmaceuticals, Inc.
I am waiting for it to quietly fall sub .05 maybe sub .01 due to lack of interest. Then loading time. .12 is key if it falls then .10 should come quick.
Smitter SMTT
well finally took my .12 and ran..
will keep on close watch..lol now im sure it will fly next week its jus part of the whole otcgame lol..haps 9 out of 10 times after we sell then BOOM lol..will see i guess lol
right at my threshhold .12 ughh .11 and im out..hopin this is jus a shake attempt to get my shares lol..will see...
broke .14 resistance..approaching 52 week lows may move on if it heads a few more ticks south
im holdin my few jic.)
hope those p and ders from few weeks ago really kick soon
so obviously
that pumper that wrote that moved on i take it?lol
amended agreement..now come on more bidders for the company has 30 days from jan 20th so still time..will see what haps got my few tickets jic!)DF
8k OUT jus diggin into it..
Entry into a Material Definitive Agreement.
As previously reported, on December 9, 2010, Molecular Insight Pharmaceuticals, Inc. (the “Company”) filed a voluntary petition in the United States Bankruptcy Court for the District of Massachusetts (the “Court”) seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code, Case No. 10-23355. The Company continues to operate its business and manage its properties as a debtor in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. The Company’s Chapter 11 Case is pending before the Honorable Frank J. Bailey. As part of the Chapter 11 filing, the Company submitted to the Court that certain Investment Agreement entered into on December 9, 2010 between the Company and Savitr Capital LLC, a private investment company (“Savitr”). Under the Investment Agreement, as amended by the order of the Court entered on January 20, 2011, Savitr is committed to invest $45 million in the Company, to be effected through a corporate reorganization under the Chapter 11 filing.
On February 3, 2011, the Company and Savitr entered into a Second Amendment to The Investment Agreement (the “Second Amendment”), under which Savitr would purchase 90,000,000 shares of the Company’s common stock for $45 million investment, representing 100% of the Company’s equity capital. The investment is conditioned upon the replacement of the Company’s approximately $195,000,000 of existing Senior Secured Floating Rate Bonds due 2012 (the “Bonds”), including all accrued “pay in kind” interest, by up to $120,000,000 principal amount of new senior secured notes, which would be issued in several tranches, subject to certain conditions. The holders of Bonds will not receive any of the Company’s common stock. The Second Amendment also provides for certain limitations on the amount of investments that may be made by the Company to develop Onalta™, a drug candidate, in Europe. The Second Amendment was submitted to the Court along with the plan of reorganization, disclosure statement and related procedural pleadings on February 3, 2011.
The Savitr investment is subject to a number of additional conditions, including the emergence of the Company from its corporate restructuring by April 15, 2011, adherence to a cash collateral budget, satisfactory resolution of various issues related to Onalta, as well as certain bankruptcy-related preconditions, including the entry of certain final orders by the Bankruptcy Court incorporating, among other items, a confirmation order related to the Company’s plan of reorganization, and the Court’s approval of the Second Amendment.
The description of the Second Amendment is qualified in its entirety by reference to the full text of such amendment, which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K.
cuz if another deal comes to the table and is better terms then maybe stakeholders/commoners get to get something out the new deal. Im rollin a few jic hey all Qers gambles and jus look what VRMLQ did from 01 to what 30 dollars round there? not sayin it will mimic VRMLs run if a bidding war started here but definitely could see some positive move from here imo..if not dollar break if any piece of good news for stakeholders imo.
This company still has $190,00,000.00 in notes & was the main reason I dropped the MOD position back in the summer. Even if they do the recap, I am not sure why posters here would believe there could be a big run with the current stock.
The investment from Savitr Capital LLC ("Savitr"), a private investment company, would be in the form of common stock at $0.45 per share, representing 90% of MIPI's common stock. The investment is conditioned upon the replacement of MIPI's approximately $195,000,000 of existing bonds, including all accrued "pay in kind" ("PIK") interest, by $90,000,000 principal amount of secured notes. The newly issued notes would mature in six years and bear interest at 6% per annum, payable in the form of PIK notes during the first 24 months; either PIK notes or cash, at the option of MIPI, during the next 24 months and cash for the last 24 months, with one-half of the outstanding principal to be repayable on the fifth anniversary and the balance on the sixth anniversary of the note issuance date. In addition to the notes, the holders of MIPI's existing bonds would receive 10% of MIPI's common stock.
http://www.secform4.com/insider-trading/1340752.htm
http://www.form4oracle.com/company/molecular-insight-pharmaceuticals-inc-mipiq.pk/company-transactions?id=11617
Looks like sellers want more than .17 now... thats good!
i agree once it gets thru .30 it should move nicely
looks like it wants higher!
Good News if you looking for a lower entry point.
Smitter SMTT
Bad new... he has a lot of shares...lol
Good news bad news... its good to see the pressure is coming from one large shareholder, I'd probably be selling some too:
Barlow David S
(Last) (First) (Middle)
640 LEWIS WHARF
(Street)
BOSTON MA 02110
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Molecular Insight Pharmaceuticals, Inc. [mipi] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/27/2011
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 01/27/2011 S 33,000 D $ 0.17 2,425,377 D
COMMON STOCK 01/27/2011 S 5,000 D $ 0.18 2,420,377 D
COMMON STOCK 01/28/2011 S 17,000 D $ 0.15 2,403,377 D
COMMON STOCK 01/28/2011 S 6,000 D $ 0.141 2,397,377 D
COMMON STOCK 01/28/2011 S 6,000 D $ 0.16 2,391,377 D
COMMON STOCK 01/28/2011 S 9,000 D $ 0.171 2,382,377 D
COMMON STOCK 01/28/2011 S 21,000 D $ 0.175 2,361,377
I am liking what i see as well.
SMitter SMTT
Thats nice.
agreed..and ima try and swoop me more..this dip equals potential golden opp imo to me!))
Best thing about this one is... we know in 30 days or less!
News from the 26th
http://www.otcmarkets.com/stock/MIPIQ/news?id=26096&b=y
Smitter SMTT
Auth 100 mill
O/S 25 Million
Smitter SMTT
guess i shulda waited a few days eh lol..ima hold out either way didnt get in heavy jus a few jic the bidding war for the company begins!))
yah lol oops..o well im fine holdin til we find out if other parties interested in MIPIQ and their assets.))will hold to find out!
not exactly running to a dollar yet, hey boys? :)
That's okay by me, cuz I've had my eye on MIPI for a long time, and
just never had enough scratch available to buy it yet...
Don't let the train leave without me!
So many stocks, so little money! :(
GM all..jus added a few to put away jus in case a bidding war starts! nice news yesterday imo!))bring dollarland!
Yeah lol! ...They wiped out old board last night with all my DD posts?.....as you know there were just 11 total messages...then this morning this old board pops up and ourmessages are gone.....hmmmmmmm....me thinks someone dont want us to let the cat out of bag until they buy in lol!
were gonna rock this like Led Zeppelin Two, Side One lol!
DiamondFire!!!
MIPIQ: MOTHER OF ALL STOCK RUN!!
This is what DimondFire found!!
Today 1$ + with 25 mllion O/S and very small float with 45 Million $ cash??
MIPIQ board is brand new - - didn't you always want to see one of these boards from post #1, and see it grow lol! All right if youre feeling lazy and just want to move the mouse around --- here is the link:
http://ih.advfn.com/p.php?pid=squote&symbol=mipiq
...it does tell you that this will be a pretty clean run tomorrow as seemintly no one has been accumulating shares of late, and the market only had the last 45 minutes to read the info and react on the US Bankruptcy Court favorable ruling news....
This company was just delisted last week on the NASDAQ - it traded up to $4.49 last year. It filed Chapter 11 last Dec. 9th and tanked from .75 to .25, then rolled this past month and a half to .14 this morning...looks like everyone who wanted to sell did, as the pps held flat the past month....
I think the reason for it holding a dime is two fold: first that when they PR'd their Bankruptcy they tried to deflect it and even hide it in news about possible $45 MILLION financing from private firm Savitr from San Fransico. Second that MIPI has several already very promising drugs and radiotheraputic therapy's in various Phase Trails and these have value in or themselves (check out links on the MIPIQ board I just DD'd...some of these results are VERY GOOD)...
Finally the AS is $100 million and the OS is 25 million! And who knows what the float is...
So go check out the Baby MIPIQ Board, its so cute and tiny ...... and we will see what happens tomorrow now that they have an extra $45 million in CASH INFUSION!
Dance on DiamondFire!: Jim Morrison
DiamondFire!
MIPIQ- HUGE DD
Molecular Insight Announces $45-Million Financing Commitment, Chapter 11 Filing, Corporate Restructuring and Management Changes
With O/S 25 Million the current market capital is only 3.4 Million. This should be trading in DOLLARS once people gets to know. Also yesterdays PR gives us a HUGE news for dollar bound.
http://www.otcmarkets.com/stock/MIPIQ/news?id=26096&b=y
This news came only 3.30 P.M yesterday
Today will be BIG DAY!!!
Also check the chart , the GAPS are going to get closed all the way to dollar
Molecular Insight Receives Court Approval of Assumption of Investment Agreement and Solicitation of Alternative Transactions
Molecular Insight Pharmaceuticals, Inc. (OTCQB: MIPIQ) (PINKSHEETS: MIPIQ), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Massachusetts of its motion to assume the previously announced Investment Agreement entered into with Savitr Capital LLC. The motion was submitted in connection with the Company's Chapter 11 reorganization case that was commenced on December 9, 2010 under the U.S. Bankruptcy Code.
The Court entered an order authorizing the Company to assume the Investment Agreement and approving a break-up fee and expense reimbursement for Savitr Capital as specified in the Investment Agreement. The order further authorizes the Company to actively solicit, during a 30-day period commencing on January 20, 2011, the date of entry of the order, inquiries, proposals, offers and bids from, and negotiate with, any person regarding any alternative transaction such as an acquisition or other sale or purchase transaction or refinancing. If the Company receives, prior to or after the foregoing solicitation period, an unsolicited proposal for an alternative transaction that would reasonably be expected to result in more favorable terms to the Company than the Savitr Capital investment, the Company is permitted to negotiate such proposal and notify Savitr Capital of the terms of such proposal. There is no assurance, however, that the Company will receive or can successfully negotiate any alternative proposal, or that it will ultimately enter into a transaction with Savitr Capital, whether on the basis of the Investment Agreement or otherwise.
The Court found that the amount of the break-up fee and expense reimbursement to Savitr Capital under the Investment Agreement are reasonable and are likely to encourage bidding and, accordingly, granted the break-up fee and expense reimbursement priority status of administrative expenses under the U.S. Bankruptcy Code. The Court further ordered a reduction of the break-up fee if the Company enters into a transaction proposed or sponsored by the holders of the Company's Senior Secured Floating Rate Bond due 2012 as contemplated by the Investment Agreement.
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is a clinical-stage biopharmaceutical company and pioneer in molecular medicine. The Company is focused on the discovery and development of targeted therapeutic and imaging radiopharmaceuticals for use in oncology. Molecular Insight has five clinical-stage candidates in development. For further information, please visit the Company's website: www.molecularinsight.com.
Forward-Looking Statements
Statements in this release that are not strictly historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our pending Chapter 11 filing, our potential payment of the break-up fee and expense reimbursement; our solicitation and negotiation of any alternative transaction; and our ability to consummate the transactions contemplated by the Investment Agreement or otherwise. Such forward-looking statements also include, but are not limited to, the potential adverse impact of the Chapter 11 proceedings on our business, financial condition or results of operations; our ability to maintain adequate liquidity to fund our operations during the Chapter 11 proceedings and to fund a plan of reorganization and thereafter; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time and to develop, prosecute, confirm and consummate our plan of reorganization and the transactions contemplated by such plan; general economic conditions; the timing and expenses related to transactions contemplated by the Investment Agreement or otherwise; and those factors identified in our filings with the SEC. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of Molecular Insight to be materially different from historical results or from any results expressed or implied by such forward-looking statements. The risks and uncertainties and the terms of any reorganization plan ultimately confirmed can affect the value of our various pre-petition liabilities, common stock and/or other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of our liabilities and/or securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and/or securities is highly speculative. Accordingly, we urge that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Investors and other interested parties can obtain information about our court filings and claims information on www.omnimgt.com/molecular. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The Company's SEC filings are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov. Press releases for Molecular Insight Pharmaceuticals, Inc. are available on our website: http://www.molecularinsight.com. If you would like to receive press releases via e-mail, please contact: investor@molecularinsight.com. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contact:
Mark A. Attarian
Interim Executive Vice President and
Chief Financial Officer
617.492.5554
mattarian@molecularinsight.com
Molecular Insight Announces $45-Million Financing Commitment, Chapter 11 Filing, Corporate Restructuring and Management Changes
Dec 9, 2010 10:46:00 PM
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CAMBRIDGE, MA -- (MARKET WIRE) -- 12/09/10 -- Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI), a biopharmaceutical company discovering and developing targeted therapeutic and imaging radiopharmaceuticals for use in oncology, today announced that it has entered into a $45-million financing commitment from Savitr Capital LLC, to be effected through a corporate reorganization under a chapter 11 filing commenced today. MIPI has also made changes in its management to implement the restructuring.
The investment from Savitr Capital LLC ("Savitr"), a private investment company, would be in the form of common stock at $0.45 per share, representing 90% of MIPI's common stock. The investment is conditioned upon the replacement of MIPI's approximately $195,000,000 of existing bonds, including all accrued "pay in kind" ("PIK") interest, by $90,000,000 principal amount of secured notes. The newly issued notes would mature in six years and bear interest at 6% per annum, payable in the form of PIK notes during the first 24 months; either PIK notes or cash, at the option of MIPI, during the next 24 months and cash for the last 24 months, with one-half of the outstanding principal to be repayable on the fifth anniversary and the balance on the sixth anniversary of the note issuance date. In addition to the notes, the holders of MIPI's existing bonds would receive 10% of MIPI's common stock.
The Savitr investment is subject to a number of conditions, including the emergence of MIPI from its corporate restructuring by March 31, 2011, adherence to a cash collateral budget, satisfactory resolution of various issues related to Onalta?, a drug candidate, as well as certain bankruptcy-related preconditions, including the entry of certain Final Orders by the Bankruptcy Court incorporating, among other items, a confirmation order related to MIPI's chapter 11 plan, and the court's approval of a breakup fee and expense reimbursement protections for the benefit of Savitr.
The Savitr investment also provides for a 30-day period during which the Company is permitted to solicit other inquiries, proposals and bids from third parties who desire to propose an alternative transaction to the one proposed by Savitr.
Joseph Limber, MIPI Chairman of the Board, stated: "We are very pleased with the Savitr investment commitment and feel that it would provide the Company with both the funds and the restructured balance sheet needed to continue our business. We are disappointed that the bondholders have not accepted the Savitr proposal and that, as a result, we are required to commence chapter 11 proceedings to protect our Company's ongoing business. Nonetheless, we are hopeful that we will be able to reach a mutually acceptable restructuring agreement with all of our creditors."
The Definitive Investment Agreement and certain other documents will be filed on Form 8k with the Securities and Exchange Commission ("SEC") within the next four days.
In connection with the reorganization, Daniel L. Peters tendered his resignation as Chief Executive Officer, President and Director, and Charles H. Abdalian has tendered his resignation as Senior Vice President and Chief Financial Officer. Harry Stylli, Ph.D., a long-time member of the Company's Board of Directors, was elected as Chief Restructuring Officer and President, and Mark A. Attarian, a partner of Tatum, an executive financial services firm, was elected as Interim Executive Vice President and Chief Financial Officer. In addition, John W. Babich, Ph.D., was named principal executive officer and Mr. Attarian principal financial officer for SEC and other regulatory filing matters. In tendering his resignation, Mr. Peters stated: "I am pleased that I was able to aid the Company through its difficult restructuring process and, given that the Company is entering a new phase of its business, it is appropriate to hand the reins over to Harry Stylli. With his experience and expertise, I am confident that the Company is in capable hands." Mr. Stylli stated: "The Board of Directors of Molecular appreciates Dan's and Chuck's service and contributions in guiding the Company through a challenging period. We thank them for their contributions to the Company and wish them great success in their future endeavors."
CRT Investment Banking LLC, now known as M.M. Dillon & Co., acted as the Company's sole financial advisor for these transactions.
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is a clinical-stage biopharmaceutical company and pioneer in molecular medicine. The Company is focused on the discovery and development of targeted therapeutic and imaging radiopharmaceuticals for use in oncology. Molecular Insight has five clinical-stage candidates in development. For further information on Molecular Insight Pharmaceuticals, please visit www.molecularinsight.com.
Forward-Looking Statements
Statements in this release that are not strictly historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our continued negotiations with our bondholders; the consequences of the failure to reach agreement with the bondholders on acceptable terms; our inability to meet our obligations under the transaction documents related to our corporate restructuring; and our chapter 11 filing for bankruptcy. Such forward-looking statements also include, but are not limited to, the potential adverse impact of the chapter 11 proceedings on our business, financial condition or results of operations, including our ability to maintain contracts and other relationships that are critical to our business and the actions and decisions of our creditors and other third parties with interests in our chapter 11 proceedings; our ability to maintain adequate liquidity to fund our operations during the chapter 11 proceedings and to fund a plan of reorganization and thereafter, including obtaining sufficient debtor-in-possession and "exit" financing; maintaining normal terms with our vendors and service providers during the chapter 11 proceedings and complying with the terms of our financing agreements; our ability to obtain court approval with respect to motions in the chapter 11 proceedings prosecuted from time to time and to develop, prosecute, confirm and consummate our plan of reorganization and the transactions contemplated by such plan; general economic conditions, including changes in interest rates; the timing and expenses related to internal restructurings, and restructuring of terms of existing bonds; and those factors identified in our filings with the SEC. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of Molecular Insight to be materially different from historical results or from any results expressed or implied by such forward-looking statements. The risks and uncertainties and the terms of any reorganization plan ultimately confirmed can affect the value of our various pre-petition liabilities, common stock and/or other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of our liabilities and/or securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and/or securities is highly speculative. Accordingly, we urge that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Investors and other interested parties can obtain information about our court filings and claims information on www.omnimgt.com/molecular. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The Company's SEC filings are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov. Press releases for Molecular Insight Pharmaceuticals, Inc. are available on our website: http://www.molecularinsight.com. If you would like to receive press releases via e-mail, please contact: investor@molecularinsight.com. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contact:
Mark A. Attarian
Interim Executive Vice President and Chief Financial Officer
617.492.5554
mattarian@molecularinsight.com
Source: Molecular Insight Pharmaceuticals, Inc.
Very Smart people are buying this stock right now and so am I
“Our goal at Tradition Asiel is to provide unparalleled customer service and sophisticated technology. By offering our institutional clients extensive liquidity, accurate and timely price discovery, fast execution, and client anonymity, our commitment to high quality services and products is clear.
http://www.tradition-asiel.com/
ASEL is taking it down and collecting shares. Just doing some back DD it appears he was a HUGE player at A LOT higher prices!!!
CAMBRIDGE, MA--(Marketwire - 12/20/10) - Molecular Insight Pharmaceuticals, Inc. (NASDAQ:MIPI - News), a biopharmaceutical company discovering and developing targeted therapeutic and imaging radiopharmaceuticals for use in oncology, today announced that trading of shares of the Company's common stock will be transferred from the Nasdaq Global Market to the OTCQB™ Marketplace effective Tuesday, December 21, 2010.
As previously disclosed on the Company's filings with the Securities and Exchange Commission, on December 10, 2010, the Company received notification from Nasdaq that due to its filing of a petition for protection under Chapter 11 of the U.S. Bankruptcy Code, trading of the Company's common stock will be suspended at the opening of business on December 21, 2010 and that the Company's common stock will be delisted from the Nasdaq Stock Market that same day pursuant to Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1.
Today, the Company has been advised by Pink OTC Markets, Inc., which operates an electronic quotation service for securities traded over-the-counter ("OTC"), that its securities are immediately eligible for quotation on the OTCQB. The OTCQB is a market tier for OTC-traded companies that are registered and reporting with the Securities and Exchange Commission. The Company has also been advised that its shares will trade under the symbol MIPIQ. Investors will be able to view real-time stock quotes for MIPIQ at
FEINBERG STEPHEN's Top Investments
Company Name Ticker Investment Mkt Value
BlueLinx Holdings BXC
$58,644,000
MOLECULAR INSIGHT PHARMACEUTICALS, INC. MIPI
$19,777,924
Since graduating from Princeton 25 years ago, Feinberg has never given an interview and has never been photographed by the press. Not that there has been much demand until now. On Wall Street, the C.E.O. of Cerberus Capital Management, an investment firm with $26 billion in assets under management, has long been admired.
Read more: http://www.portfolio.com/executives/features/2007/08/13/Stephen-Feinberg-Cerberus/#ixzz18Wdq16NC
Lets also keep an eye on the next UPDATE
http://investors.morningstar.com/ownership/shareholders-overview.html?t=MIPI
LOL....Savitr does not think so BUT stockexpertpro does. HAHA....Thanks for sharing. Time to start COVERING in A BIG way. Hearing this squeeze is something to talk about
Stock is worthless amazing that you still have any bids left at all on this thing
Might be MUCH more than that!!! I am hearing we have a VERY large buyer at MIN 2x+ the current PP$. All i can say is sit tight, PLACE YOUR BETS and lets get ready for the SHOW!!!! imo!
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http://www.molecularinsight.com/
http://finance.yahoo.com/q/ks?s=MIPI
Molecular Insight Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of targeted therapeutic and imaging radiopharmaceuticals for use in oncology. The company develops its lead radiotherapeutic oncology product candidate, Azedra, which is in pivotal Phase IIb trials for the treatment of pheochromocytoma/paraganglioma in adults and neuroblastoma in children; and its lead radiotherapeutic product candidate, Onalta, which is in European pivotal Phase III clinical studies for the treatment of metastatic carcinoid and pancreatic neuroendocrine tumors in patients whose symptoms are not controlled by conventional therapy. Molecular Insight Pharmaceuticals also develops Trofex, a molecular imaging radiopharmaceutical product candidate in Phase I trials for the diagnosis and detection of metastatic prostate cancer; and Solazed, a targeted radiotherapeutic under Phase I initialization, for the treatment of malignant metastatic melanoma. In addition, it is developing a non-oncology product, Zemiva, a molecular cardiovascular imaging radiopharmaceutical product candidate, which completed the Phase II trials for the diagnosis of cardiac ischemia, or insufficient blood flow to the heart muscle. Molecular Insight Pharmaceuticals sub-licensed Onalta to BioMedica Life Sciences S.A. for development in certain countries in Europe, the Middle East, north Africa, Russia, and Turkey under a strategic collaboration agreement. The company was formerly known as Biostream, Inc. and changed its name to Molecular Insight Pharmaceuticals, Inc. in 2003. Molecular Insight Pharmaceuticals was founded in 1997 and is based in Cambridge, Massachusetts.
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