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PROSPECTUS
SUPPLEMENT NO. 1
(TO
PROSPECTUS DATED December 8, 2008)
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This filing is made pursuant to
Rule 424(b)(3)
under the Securities Act of
1933 in connection with
Registration
No. 333-155996
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Common
Stock
________________
This
Prospectus Supplement No. 1 supplements and amends the prospectus dated December
8, 2008 relating to the resale by Kingsbridge Capital Limited, or Kingsbridge,
of up to 10,524,109 shares of our common stock.
This
prospectus supplement should be read in conjunction with the prospectus dated
December 8, 2008, which is to be delivered with this prospectus
supplement. This prospectus supplement is not complete without, and
may not be delivered or utilized except in connection with, the prospectus,
including any amendments or supplements to it. All references in the
prospectus to “this prospectus” are hereby amended to read “this prospectus (as
supplemented and amended).”
We are
filing this prospectus to reflect a draw down by us pursuant to the common stock
purchase agreement by and between us and Kingsbridge, dated December 1,
2008.
The table
appearing under the caption “Selling Stockholder” on page 28 of the prospectus
is hereby supplemented by adding the following to the end of footnote (2) to
that table:
“Since
December 8, 2008, we have made the following draw downs pursuant to the common
stock purchase agreement:
On May
12, 2009, we delivered notice to Kingsbridge to effect a draw down of up to
$2,500,000. The first trading day of the eight-day pricing period for this draw
down was May 13, 2009, and, in connection with this draw down, on May 19, 2009
and May 26, 2009, we issued an aggregate of 764,700 shares of our common stock
to Kingsbridge at an aggregate purchase price of $2,500,000.”
Our
common stock is quoted on the NASDAQ Global Market under the symbol “MITI.” The
prices at which Kingsbridge purchased these shares from us were established
under the common stock purchase agreement and represented a discount of 12% per
share from the prices of our common stock on the NASDAQ Global Market for the
period beginning May 13, 2009 and ending May 22, 2009. On May 22, 2009, the last
reported sale price of our common stock on the NASDAQ Global Market was $3.77
per share.
INVESTING
IN OUR COMMON STOCK INVOLVES RISKS. SEE “RISK FACTORS” BEGINNING ON PAGE 8 OF
THE PROSPECTUS AND UNDER “MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS” IN OUR MOST RECENT FORM 10-K OR FORM 10-Q
THAT HAS BEEN FILED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND
THAT IS INCORPORATED BY REFERENCE INTO THE PROSPECTUS.
Neither
the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus
supplement or the prospectus to which it relates is truthful or
complete. Any representation to the contrary is a criminal
offense.
The date
of this Prospectus Supplement is May 26, 2009.