UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
1. Name and Address of Reporting Person(s)
Dittrich, Howard
10030 Barnes Canyon Blvd.
San Diego, CA 92121
2. Issuer Name and Ticker or Trading Symbol
Molecular Biosystems, Inc. (MB)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
03/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Vice President, Research,
Medical, & Regulatory Affairs
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code Amount D Price End of Year I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 12/01/98 A 20,000 (1) A 25,593 D Direct
<CAPTION>
Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $2.7500 01/21/99 A 65,000 01/21/00 (2) 01/21/09
to buy)
Incentive Stock Option (right $9.6875 05/12/98 A 10,322 04/01/99 05/12/08
to buy)
Non-Qualified Stock Option $3.3125 11/17/98 A 40,000 11/17/99 11/17/08
(right to buy)
Non-Qualified Stock Option $9.6875 05/12/98 A 15,978 04/01/99 05/12/08
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Year
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right 01/21/99 Common Stock 65,000 65,000 D Direct
to buy)
Incentive Stock Option (right 05/12/98 Common Stock 10,322 10,322 D Direct
to buy)
Non-Qualified Stock Option 11/17/98 Common Stock 40,000 40,000 D Direct
(right to buy)
Non-Qualified Stock Option 05/12/98 Common Stock 15,978 15,978 D Direct
(right to buy)
<FN>
Explanation of Responses:
(1)
Restricted stock grant which vests on February 1, 2000
(2)
Options vest in equal yearly installments of 25% beginning 1/21/00.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Dittrich, Howard
DATE
