Molecular Insight Pharmaceuticals, Inc. to Announce First Quarter Financial Results on May 11, 2009

CAMBRIDGE, MA--(Marketwire - May 04, 2009) - Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) announced today that it will release its first quarter 2009 financial results before the opening of the Market and will hold a conference call on Monday, May 11, 2009 at 2 p.m., Eastern Time. During the call, senior management of Molecular Insight will review the Company's financial results and provide an update on its clinical development programs.

The Molecular Insight Pharmaceuticals' 2009 Annual Meeting of Stockholders will precede the conference call at 10:00 a.m., Eastern Time, the same day. The meeting will be held at the offices of Foley & Lardner LLP, 111 Huntington Avenue, Boston, MA 02199-7610.

Conference Call Details

To access the call on May 11, 2009 at 2 p.m., Eastern Time, dial 1-888-679-8038 (or 1-617-213-4850 for international participants) at least five minutes prior to the start of the call. The participant pass code is 18705639. For one week following the call, an audio replay can be accessed by dialing 1-888-286-8010 (or 1-617-801-6888 for international callers) and using the pass code 54219784.

An audio webcast of the call will also be available in the "Investor Relations" section of the Company's website, www.molecularinsight.com.

About Molecular Insight Pharmaceuticals, Inc.

Molecular Insight Pharmaceuticals (NASDAQ: MIPI) is a Cambridge, Massachusetts-based biopharmaceutical company focused on the discovery and development of innovative radiopharmaceuticals in the emerging field of molecular medicine. These novel radiopharmaceuticals will provide important improvements in disease detection and enable the delivery of radiation therapy to widespread metastatic cancers. We have focused the initial applications of our proprietary technologies in the areas of cardiology and oncology. Molecular Insight's lead molecular imaging radiopharmaceutical product candidate, Zemiva™, is being developed for the diagnosis of cardiac ischemia, or insufficient blood flow to the heart. The Company's imaging candidate, Trofex™, is in development for the detection of metastatic prostate cancer. Molecular Insight's lead molecular radiotherapeutic product candidates, Azedra™, Onalta™, and Solazed™, are being developed for detection and treatment of cancer. In addition, the Company's discovery efforts continue to identify early-stage candidates -- a product of our in-house scientific expertise and the application of our proprietary platform technologies. For more information, visit www.molecularinsight.com.

Forward-Looking Statements

Statements in this release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements about the development of Zemiva™, Trofex™, Azedra™, Onalta™, Solazed™, and our other product candidates. 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. These factors include, but are not limited to, risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval for product candidates; competition from other pharmaceutical or biotechnology companies; and the additional risks discussed in filings with the Securities and Exchange Commission (SEC). The Company's SEC filings are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. Press releases for Molecular Insight Pharmaceuticals, Inc. are available on our website: 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 Molecular Insight undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.