Molecular Insight Pharmaceuticals, Inc. (MIPI) Thursday announced a strategic decision, which includes the elimination of nine positions in alignment with its plan to support the development of its oncology product candidates and to reduce operating costs. A one-time charge of approximately $200,000 is anticipated to be taken in the first quarter of 2010. After this one-time charge, Molecular Insight expects to achieve approximately $1 million in annualized savings in its operating expenses as a result of the reduction.
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