Molecular Insight Pharmaceuticals (MIPI) 8-K Bankruptcy or Receivership

Exhibit 99.1

Molecular Insight Pharmaceuticals, Inc.	Case No.		10-23355 (FJB)
Debtor		Reporting Period	4/1/2011–4/30/2011

BALANCE SHEET

ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE ON PETITION DATE
CURRENT ASSETS
Unrestricted Cash and Cash Equivalents	$	4,587,851		$	14,925,779
Restricted Cash and Cash Equivalents		524,247			520,995
Accounts Receivable (Net)		322,694			204,255
Notes Receivable
Inventories
Prepaid Expenses		999,672			1,708,993
Professional Retainers		1,934,101			1,990,119
Employee Advances		20,050			21,550
Deposits		1,084,177			1,071,082
TOTAL CURRENT ASSETS		9,472,792			20,442,773
PROPERTY & EQUIPMENT
Lab & Equipment		3,467,761			3,425,980
Furniture & Fixtures		328,467			328,467
Leasehold Improvements		838,407			838,407
Construction-In-Process		3,686,551			3,518,355
Less Accumulated Depreciation		(4,026,826	)		(3,775,735	)
TOTAL PROPERTY & EQUIPMENT		4,294,360			4,335,474
OTHER ASSETS
Financing Costs		3,146,014			3,146,014
TOTAL OTHER ASSETS		3,146,014			3,146,014
TOTAL ASSETS	$	16,913,166		$	27,924,261
LIABILITIES AND OWNER EQUITY	BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE ON PETITION DATE
LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)
Accounts Payable		1,111,003			1,581,473
Accrued Expenses		4,903,008			1,729,379
Accrued Clinical Expense		2,206,716			2,198,736
Vacation Payable		196,646			314,884
Employee FSA Medical		(1,614	)		1,582
Employee FSA Dependent Care		1,103			2,070
Accrued Purchases		16,758			12,376
Accrued Audit Fees		605,848			487,270
Deferred Revenue		25,000			25,000
Refundable Credits		354,400			354,400
Asset Retirement Obligation		320,394			312,115
Rent/Leases–Building/Equipment
Professional Fees
Amounts Due to Insiders		12,000
TOTAL POST-PETITION LIABILITIES		9,751,262			7,019,285
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Accounts Payable—Pre-Petition		1,497,780			0
Bonds Payable		150,000,000			150,000,000
Accrued Severance		162,500			162,500
PIK Interest & Bonds		51,794,104			51,794,104
Bond Discount & Derivative		(7,976,199	)		(7,976,199	)
TOTAL PRE-PETITION LIABILITIES		195,478,185			193,980,405
TOTAL LIABILITIES
OWNERS' EQUITY
Common Stock		252,683			252,683
Additional Paid in Capital		184,449,114			183,847,458
Accumulated Deficit—Pre-Petition		(357,175,570	)		(357,175,570	)
Accumulated Deficit—Post-Petition		(15,842,508	)
NET OWNERS' EQUITY		(188,316,281	)		(173,075,429	)
TOTAL LIABILITIES AND OWNERS' EQUITY	$	16,913,166		$	27,924,261

MOR-4

The Monthly Operating Report (“MOR”) is unaudited and reflects the Debtor's best efforts to report the assets and liabilities of the Debtor on an unconsolidated basis. The MOR neither purports to represent financial statements prepared in accordance with with Generally Accepted Accounting Principles (“GAAP”), nor is the MOR intended to fully reconcile to any such financial statements. The MOR does not constitute an admission of liability of the Debtor with respect to any item referenced.

The Debtor records general accruals for certain categories of liabilities that are estimates of anticipated aggregate liability that are not tied to particular invoices or vendors. Certain deferred charges, accounts or reserves indicated as “accrued” or “deferred” that relate to clinical trials, other contractual liabilities of the Debtor, and for GAAP reporting purposes are recorded on MOR-4. These deferred expenses do not represent any actual liability incurred, due or payable, are not claims against the Debtor as of the Petition Date or for the current reporting period, and may not result in any administrative expense liability.