Healthcare Industry News: Azedra
News Release - February 2, 2007
Molecular Insight Pharmaceuticals, Inc. Announces Initial Public OfferingCAMBRIDGE, Mass.--(HSMN NewsFeed)--Molecular Insight Pharmaceuticals, Inc. announced today the pricing of its initial public offering of 5.0 million shares of common stock at a price of $14.00 per share. All of the shares are being sold by Molecular Insight. Molecular Insight's common stock will trade on the Nasdaq Global Market under the trading symbol "MIPI."
RBC Capital Markets Corporation and Jefferies & Company, Inc. are acting as joint book-running managers. A.G. Edwards & Sons, Inc. and Oppenheimer & Co. Inc. are acting as co-managers for the offering. Molecular Insight has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares to cover over-allotments, if any.
This offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from the offices of RBC Capital Markets Corporation, One Liberty Plaza, 165 Broadway, New York, NY 10006 and Jefferies & Company, Inc., 520 Madison Ave., New York, NY 10022.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on February 1, 2007. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is a biopharmaceutical company specializing in the emerging field of molecular medicine, applying innovations in the identification and targeting of disease at the molecular level to improve patient healthcare by addressing significant unmet needs. The company is focused on discovering, developing and commercializing innovative and targeted radiotherapeutics and molecular imaging pharmaceuticals with initial applications in the areas of oncology and cardiology. Molecular Insight's lead radiotherapeutic product candidates, Azedra and Onalta, are under development for the treatment of cancer. The company's lead molecular imaging pharmaceutical product candidate, Zemiva, is under development for the diagnosis of cardiac ischemia, or insufficient blood flow to the heart. In addition, the company has a growing pipeline of product candidates resulting from application of its proprietary platform technologies to new and existing compounds. Molecular Insight Pharmaceuticals, Inc. is based in Cambridge, Massachusetts.
Source: Molecular Insight Pharmaceuticals
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