-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BiSU8jEams0MG3ZdSVcTN6+yiwdVP7VSroqQDxsEOI0z3xUOFMR5HXbZoT4rHlNc
 h0+7E9v73L0rswMZfNzYgw==

<SEC-DOCUMENT>0001181431-04-021009.txt : 20040416
<SEC-HEADER>0001181431-04-021009.hdr.sgml : 20040416
<ACCEPTANCE-DATETIME>20040416135751
ACCESSION NUMBER:		0001181431-04-021009
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040416
FILED AS OF DATE:		20040416

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MULROY DENNIS
		CENTRAL INDEX KEY:			0001276840

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27725
		FILM NUMBER:		04737871

	BUSINESS ADDRESS:	
		STREET 1:		2150 W WASHINGTON ST
		STREET 2:		SUITE 110
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92078
		BUSINESS PHONE:		6192266738

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOLECULAR IMAGING CORP
		CENTRAL INDEX KEY:			0001097181
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MEDICAL, DENTAL & HOSPITAL EQUIPMENT & SUPPLIES [5047]
		IRS NUMBER:				112787966
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		2150 WEST WASHINGTON STREET
		STREET 2:		SUITE 110
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92110
		BUSINESS PHONE:		6192266738

	MAIL ADDRESS:	
		STREET 1:		2150 WEST WASHINGTON STREET
		STREET 2:		SUITE 110
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MOBILE PET SYSTEMS INC
		DATE OF NAME CHANGE:	19991018
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd39324.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-04-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001097181</issuerCik>
        <issuerName>MOLECULAR IMAGING CORP</issuerName>
        <issuerTradingSymbol>MLRI.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001276840</rptOwnerCik>
            <rptOwnerName>MULROY DENNIS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2150 W. WASHINGTON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>options to purchase common stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.22</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-04-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>250000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.22</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-05-04</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-04-13</value>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>250000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>250000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vest monthly commencing 5/4/04 over 36 months in increments of 6,944 shares for the first 35 months and 6,960 for the 36th month.</footnote>
        <footnote id="F2">All options held by reporting person terminate 90 days from date of resignation from the Company.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Steven J. Davis, Attorney in Fact, an original confirming statement executed by Dennis Mulroy is on file with the SEC</signatureName>
        <signatureDate>2004-04-16</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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