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PROSPECTUS
SUPPLEMENT NO. 2
(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. 2 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 and Prospectus Supplement No. 1 dated May 26, 2009, which are
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 further supplemented and amended by adding the following to
the end of footnote (2) to that table, as previously supplemented and
amended:
“On
June 3, 2009, we delivered notice to Kingsbridge to effect a draw down of up to
$2,750,000. The first trading day of the eight-day pricing period for this draw
down was June 4, 2009, and, in connection with this draw down, on June 10, 2009
and June 15, 2009, we issued an aggregate of 655,868 shares of our common stock
to Kingsbridge at an aggregate purchase price of $2,750,000.”
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 by reference to prices of our common
stock on the NASDAQ Global Market for the period beginning June 4, 2009 and
ending June 15, 2009, net of a discount of 10% to 12% per share. On June 15,
2009, the last reported sale price of our common stock on the NASDAQ Global
Market was $4.38 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 June 16, 2009.