SC 13G/A 1 sc13gsavitrcapital0411.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* MOLECULAR INSIGHT PHARMACERUTICALS, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 60852M104 (CUSIP Number) March 25, 2011 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: o Rule 13d-1(b) X Rule 13d-1(c) o Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person?s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be ?filed? for the purpose of Section 18 of the Securities Exchange Act of 1934 (?Act?) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 2 Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. 13G CUSIP No. 60852M104 1. Names of Reporting Persons. Beaver Creek Fund, Ltd I.R.S. Identification Nos. of above persons (entities only) 13-26559998 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) X 3. SEC Use Only 4. Citizenship or Place of Organization Cayman Islands Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power -0- 6. Shared Voting Power 288,074 7. Sole Dispositive Power -0- 8. Shared Dispositive Power 288,074 Page 3 of 8 9. Aggregate Amount Beneficially Owned by Each Reporting Person 288,074 10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o 11. Percent of Class Represented by Amount in Row (11) 1.14% based on 25,268,327 shares outstanding as of November 4, 2009 12. Type of Reporting Person (See Instructions) OO CUSIP No. 60852M104 3. Names of Reporting Persons. Andrew R. Midler I.R.S. Identification Nos. of above persons (entities only) 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) o (b) X 3. SEC Use Only Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power -0- Page 4 of 8 6. Shared Voting Power 288,074 7. Sole Dispositive Power -0- 8. Shared Dispositive Power 288,074 9. Aggregate Amount Beneficially Owned by Each Reporting Person 288,074 10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o 11. Percent of Class Represented by Amount in Row (11) 1.14% based on 25,268,327 shares outstanding as of November 4, 2009 12. Type of Reporting Person (See Instructions) IN 13G CUSIP No. 60852M104 ITEM 1. (a) Name of Issuer: Molecular Insight Pharmaceuticals, Inc. (the ?Issuer?) (b) Address of Issuer's Principal Executive Offices: 160 Second Street, Cambridge, MA 02142 ITEM 2. (a) Name of Person Filing: (i) Beaver Creek Intermediate Fund, Ltd. (?BCI?) (ii) Andrew R. Midler (?Mr. Midler?) (b) Address of Principal Business Office, or if None, Residence: The address of the principal business office of each Page 5 of 8 of the Reporting Persons is One Market Plaza, Steuart Tower, Ste 1400, San Francisco, CA 94105 (c) Citizenship: (i) BCI is a Cayman Island limited company; (ii) Mr. Midler is a citizen of the United States of America (d) Title of Class of Securities: Common Stock (e) CUSIP Number: 60852M104 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: This Item 3 is not applicable ITEM 4. OWNERSHIP. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: As of April 18, 2011 each of Beaver Creek Ltd and Mr. Midler may be deemed to be the beneficial owner of 288,074 Shares (b) Percent of class: The number of Shares which each of BCI and Mr. Midler maybe deemed to be the beneficial owner constitutes approximately 1.14% of the total number of Shares outstanding (based upon information provided by the Issuer its most recent filed quarterly report on Form 10-Q, there were 25,268,327 shares outstanding as of November 4, 2009). (c) Number of shares as to which such person has: BCI: Page 6 of 8 (i) Sole power to vote or to direct the vote -0- (ii) Shared power to vote or to direct the vote 288,074 (iii) Sole power to dispose or to direct the disposition of -0- (iv)Shared power to dispose or to direct the disposition of 288,074 Mr. Midler (i) Sole power to vote or to direct the vote -0- (ii) Shared power to vote or to direct the vote 288,074 (iii) Sole power to dispose or to direct the disposition of -0- (iv)Shared power to dispose or to direct the disposition of 288,074 ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. This item 5 is not applicable ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. This item 6 is not applicable ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. This item 7 is not applicable ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. See disclosure of Item 2 hereof. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. This item 9 is not applicable ITEM 10. CERTIFICATIONS. The following certification shall be included if the statement is filed pursuant to Rule 13d-1(c): ?By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.? SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. BEAVER CREEK FUND, LTD. April 18, 2011 (Date) /s/ Andrew Midler (Signature) Andrew Midler ? General Partner (Name/Title) ANDREW MIDLER April 18, 2011 (Date) /s/ Andrew Midler (Signature) Andrew Midler ? General Partner (Name/Title) The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7 for other parties for whom copies are to be sent. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)