-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CJtOoZ7C8d72NMG8MFjMtLsAx4SoNQ4y6rfohlVUR+gBtnRBddX706snTtBmafZJ a6kJhu324al4N9DgjxxD0w== 0000912057-02-029442.txt : 20020731 0000912057-02-029442.hdr.sgml : 20020731 20020731170426 ACCESSION NUMBER: 0000912057-02-029442 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20020731 GROUP MEMBERS: BIOTECHNOLOGY VALUE FUND II, L.P. GROUP MEMBERS: BVF INC. GROUP MEMBERS: BVF INVESTMENTS, L.L.C. GROUP MEMBERS: BVF PARTNERS L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED MAGNETICS INC CENTRAL INDEX KEY: 0000792977 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 042742593 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-38286 FILM NUMBER: 02716435 BUSINESS ADDRESS: STREET 1: 61 MOONEY ST CITY: CAMBRIDGE STATE: MA ZIP: 02138 BUSINESS PHONE: 6173543929 MAIL ADDRESS: STREET 1: 61 MOONEY ST CITY: CAMBRIDGE STATE: MA ZIP: 02138 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 415-288-23 MAIL ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13D 1 a2085752zsc13d.htm SC 13D
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. )¹

		Advanced Magnetics, Inc. (Name of Issuer)

		Common Stock (Title of Class of Securities)

		0753P 10 3 (CUSIP Number)

		Hope Flack BVF Partners L.P 227 West Monroe Street, Suite 4800 Chicago, Illinois 60606 (312) 263-7777 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

		July 26, 2002 (Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ý

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

(Continued on following pages)

(Page 1 of 10 Pages)

¹ 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 disclosures provided in a prior cover page.

The information required on 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).


CUSIP No. 0753P 10 3	13D	Page 2 of 9 Pages


(1)	NAMES OF REPORTING PERSON:
	Biotechnology Value Fund, L.P.
	I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


(2)	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
		(a) ý
		(b) o

(3)	SEC USE ONLY


(4)	SOURCE OF FUNDS*
	WC

(5)	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
		o

(6)	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

	(7)	SOLE VOTING POWER
NUMBER OF		0
SHARES
BENEFICIALLY	(8)	SHARED VOTING POWER
OWNED		494,963
BY
EACH	(9)	SOLE DISPOSITIVE POWER
REPORTING		0
PERSON
WITH	(10)	SHARED DISPOSITIVE POWER
		494,963


(11)	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	494,963

(12)	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
		o

(13)	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	7.5%

(14)	TYPE OF REPORTING PERSON*
	PN

SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No. 0753P 10 3	13D	Page 3 of 9 Pages


(1)	NAMES OF REPORTING PERSON:
	Biotechnology Value Fund II, L.P.
	I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


(2)	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
		(a) ý
		(b) o

(3)	SEC USE ONLY


(4)	SOURCE OF FUNDS*
	WC

(5)	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
		o

(6)	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

	(7)	SOLE VOTING POWER
NUMBER OF		0
SHARES
BENEFICIALLY	(8)	SHARED VOTING POWER
OWNED		256,632
BY
EACH	(9)	SOLE DISPOSITIVE POWER
REPORTING		0
PERSON
WITH	(10)	SHARED DISPOSITIVE POWER
		256,632


(11)	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	256,632

(12)	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
		o

(13)	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	3.9%

(14)	TYPE OF REPORTING PERSON*
	PN

SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No. 0753P 10 3	13D	Page 4 of 9 Pages


(1)	NAMES OF REPORTING PERSON:
	BVF Investments, L.L.C.
	I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


(2)	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
		(a) ý
		(b) o

(3)	SEC USE ONLY


(4)	SOURCE OF FUNDS*
	WC

(5)	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
		o

(6)	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

	(7)	SOLE VOTING POWER
NUMBER OF		0
SHARES
BENEFICIALLY	(8)	SHARED VOTING POWER
OWNED		578,338
BY
EACH	(9)	SOLE DISPOSITIVE POWER
REPORTING		0
PERSON
WITH	(10)	SHARED DISPOSITIVE POWER
		578,338


(11)	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	578,338

(12)	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
		o

(13)	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	8.7%

(14)	TYPE OF REPORTING PERSON*
	OO

SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No. 0753P 10 3	13D	Page 5 of 9 Pages


(1)	NAMES OF REPORTING PERSON:
	BVF Partners, L.P.
	I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


(2)	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
		(a) ý
		(b) o

(3)	SEC USE ONLY


(4)	SOURCE OF FUNDS*
	OO

(5)	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
		o

(6)	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

	(7)	SOLE VOTING POWER
NUMBER OF		0
SHARES
BENEFICIALLY	(8)	SHARED VOTING POWER
OWNED		1,387,233
BY
EACH	(9)	SOLE DISPOSITIVE POWER
REPORTING		0
PERSON
WITH	(10)	SHARED DISPOSITIVE POWER
		1,387,233


(11)	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,387,233

(12)	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
		o

(13)	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	20.9%

(14)	TYPE OF REPORTING PERSON*
	PN

SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No. 0753P 10 3	13D	Page 6 of 9 Pages


(1)	NAMES OF REPORTING PERSON:
	BVF Inc.
	I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


(2)	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
		(a) ý
		(b) o

(3)	SEC USE ONLY


(4)	SOURCE OF FUNDS*
	OO

(5)	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
		o

(6)	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

	(7)	SOLE VOTING POWER
NUMBER OF		0
SHARES
BENEFICIALLY	(8)	SHARED VOTING POWER
OWNED		1,387,233
BY
EACH	(9)	SOLE DISPOSITIVE POWER
REPORTING		0
PERSON
WITH	(10)	SHARED DISPOSITIVE POWER
		1,387,233


(11)	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,387,233

(12)	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
		o

(13)	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	20.9%

(14)	TYPE OF REPORTING PERSON*
	IA, CO

SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No. 0753P 10 3	13D	Page 7 of 9 Pages

ITEM 1. SECURITY AND ISSUER.

This Statement on Schedule 13D (this "Statement") relates to the Common Stock, par value $0.01 per share (the "Stock"), of Advanced Magnetics, Inc., a Delaware corporation ("Advanced Magnetics"). The principal executive office of Advanced Magnetics is located at 61 Mooney Street, Cambridge, Massachusetts 02138.

ITEM 2. IDENTITY AND BACKGROUND.

The persons filing this Statement, the persons enumerated in Instruction C of this Statement and, where applicable, their respective places of organization, principal business, principal office, general partners, managers, directors, executive officers, controlling persons and certain information regarding each of them, are as follows:

(a) Biotechnology Value Fund, L.P., a Delaware limited partnership ("BVF"), Biotechnology Value Fund II, L.P., a Delaware limited partnership ("BVF2"), BVF Investments L.L.C., a Delaware limited liability company ("Investments"), BVF Partners L.P., a Delaware limited partnership ("Partners") and BVF Inc., a Delaware corporation ("BVF Inc.") specialize in holding biotechnology stocks for investment purposes. Together, BVF, BVF2, Investments, Partners and BVF Inc. are the "Reporting Persons". Mark N. Lampert, an individual, is the sole shareholder, sole director and an officer of BVF Inc.

(b) The business address of BVF, BVF2, Investments and Partners is 227 West Monroe Street, Suite 4800, Chicago, Illinois 60606. The business address of BVF Inc. and Lampert is One Sansome Street, 31st Floor, San Francisco, California 94104.

(c) Partners is the general partner of BVF and BVF2, which are investment limited partnerships. Partners also is the manager of Investments. BVF Inc. is an investment advisor to and general partner of Partners. For Lampert's occupation, please refer to (a) above.

(d) During the last five years, neither the Reporting Persons nor Lampert has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors).

(e) During the last five years, neither the Reporting Persons nor Lampert has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction nor, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f) Lampert is a citizen of the United States of America. For the citizenship of each of BVF, BVF2, Investments, Partners, and BVF Inc., please refer to (a) above.

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

Since May 31, 2002, Partners, in its capacity as (i) general partner of BVF, has purchased on behalf of such limited partnership an aggregate number of 64,050 shares of the Stock for an aggregate consideration of $245,166.40, utilizing funds provided by BVF from its working capital pursuant to the terms of its limited partnership agreement with Partners; (ii) general partner of BVF2, has purchased on behalf of such limited partnership an aggregate number of 41,080 shares of the Stock for an aggregate consideration of $157,021.20, utilizing funds provided by BVF2 from its working capital pursuant to the terms of its limited partnership agreement with Partners; and (iii) manager of Investments, has purchased on behalf of such limited liability company an aggregate number of 98,250 shares of the Stock for an aggregate consideration of $375,862.60 utilizing funds provided by Investments from its working capital pursuant to the terms of its investment advisory agreement with Partners.


CUSIP No. 0753P 10 3				Page 8 of 10 Pages

ITEM 4. PURPOSE OF TRANSACTIONS.

The sole purpose of the acquisitions of the shares of Stock reported herein was for investment. The Reporting Persons did not at the time they acquired the shares of Stock, and do not presently, have any plan to acquire control of Advanced Magnetics. The Reporting Persons may provide constructive input regarding measures intended to maximize shareholder value. The Reporting Persons may acquire or dispose of additional shares of Stock from time to time.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

(a) BVF beneficially owns 494,963 shares of the Stock, BVF2 beneficially owns 256,632 shares of the Stock, Investments beneficially owns 578,338 shares of the Stock and each of Partners and BVF Inc. beneficially owns 1,387,233 shares of the Stock, representing approximately 7.5%, 3.9%, 8.7% and 20.9%, respectively, of the aggregate number of shares of common stock outstanding as of May 1, 2002.

(b) Each of BVF, BVF2 and Investments shares with Partners voting and dispositive power over the shares of the Stock each such entity beneficially owns. Partners and BVF Inc. share voting and dispositive power over the 1,387,233 shares of the Stock they beneficially own with, in addition to BVF, BVF2 and Investments, Investment 10, L.L.C., an Illinois limited liability company ("ILL10") and managed account on whose behalf Partners, as investment advisor, purchased such shares. ILL10 specializes in holding biotechnology stocks for investment purposes and its business address is 227 West Monroe Street, Suite 4800, Chicago, Illinois 60606.

(c) Exhibit 2 attached hereto contains information as to all transactions in the Stock by the Reporting Persons during the last 60 days. All such transactions were made for cash in open market, over-the-counter transactions. No other transactions in the Stock have been effected by the Reporting Persons during the last 60 days.

(d) ILL10 is entitled to receive dividends and any sale proceeds with respect to shares of the Stock in proportion to its respective ownership interest therein.

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.

Partners is the general partner of each of BVF and BVF2 pursuant to limited partnership agreements which authorize Partners, among other things, to invest the funds of BVF and BVF2 in shares of the Stock and to vote, exercise or convert and dispose of such shares. Pursuant to such limited partnership agreements, Partners is entitled to allocations based on assets under management. Pursuant to an investment advisory agreement with Investments, Partners is authorized, among other things, to invest Investment's funds in shares of the Stock and to vote, exercise or convert and dispose of such shares and is entitled to allocations based on assets under management. Pursuant to an investment management agreement with ILL10, Partners and BVF Inc. have the authority, among other things, to invest funds of ILL10 in shares of the Stock and to vote, exercise or convert and dispose of such shares. Pursuant to such investment management agreement, Partners and BVF Inc. receive fees based on assets under management and realized and unrealized gains thereon. BVF Inc. is the general partner of Partners and may be deemed to own beneficially securities over which Partners exercises voting and dispositive power.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

Exhibit 1—Agreement Regarding Joint Filing

Exhibit 2—Transactions in the Stock by Reporting Persons during the last 60 days.


CUSIP NO. 0753P 10 3	13D	Page 9 of 9 Pages

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.

Dated: July 31, 2002

BIOTECHNOLOGY VALUE FUND, L.P.
By:	BVF Partners L.P., its general partner
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BIOTECHNOLOGY VALUE FUND II, L.P.
By:	BVF Partners L.P., its general partner
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF INVESTMENTS L.L.C.
By:	BVF Partners L.P., its manager
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF PARTNERS L.P.
By:	BVF Inc., its general partner
	By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF INC.
By:	/s/ MARK N. LAMPERT Mark N. Lampert President

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SCHEDULE 13D

ITEM 1. SECURITY AND ISSUER.

ITEM 2. IDENTITY AND BACKGROUND.

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

ITEM 4. PURPOSE OF TRANSACTIONS.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

EX-1 3 a2085752zex-1.htm EXHIBIT 1
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EXHIBIT 1

AGREEMENT REGARDING JOINT FILING

The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, Biotechnology Value Fund II, L.P., a Delaware limited partnership, BVF Investments, L.L.C., a Delaware limited liability company, BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware corporation, hereby agree and acknowledge that the information required by Schedule 13D, to which this Agreement is attached as an exhibit, is filed on behalf of each of them. The undersigned further agree that any amendments or supplements thereto shall also be filed on behalf of each of them.

Dated: July 31, 2002

BIOTECHNOLOGY VALUE FUND, L.P.
By:	BVF Partners L.P., its general partner
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BIOTECHNOLOGY VALUE FUND II, L.P.
By:	BVF Partners L.P., its general partner
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF INVESTMENTS L.L.C.
By:	BVF Partners L.P., its manager
	By:	BVF Inc., its general partner
		By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF PARTNERS L.P.
By:	BVF Inc., its general partner
	By:	/s/ MARK N. LAMPERT Mark N. Lampert President

BVF INC.
By:	/s/ MARK N. LAMPERT Mark N. Lampert President

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EXHIBIT 1

AGREEMENT REGARDING JOINT FILING
EX-2 4 a2085752zex-2.htm EXHIBIT 2
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EXHIBIT 2

TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
DURING THE PAST SIXTY DAYS

Trade Date	By	For the Account of	Quantity	Price per Share		Type of Trade	Broker*
6/3/02	Partners	BVF	300	$	3.8500	Purchase	LTCO
6/5/02	Partners	BVF	500	$	3.8500	Purchase	LTCO
6/6/02	Partners	BVF	3,200	$	3.8500	Purchase	LTCO
6/27/02	Partners	BVF	100	$	3.7500	Purchase	LTCO
6/28/02	Partners	BVF	1,200	$	3.7500	Purchase	LTCO
7/1/02	Partners	BVF	700	$	3.7500	Purchase	LTCO
7/2/02	Partners	BVF	150	$	3.7500	Purchase	LTCO
7/3/02	Partners	BVF	700	$	3.7500	Purchase	LTCO
7/8/02	Partners	BVF	1,000	$	3.7500	Purchase	LTCO
7/11/02	Partners	BVF	500	$	3.8000	Purchase	LTCO
7/12/02	Partners	BVF	1,000	$	3.8000	Purchase	LTCO
7/15/02	Partners	BVF	1,600	$	3.8000	Purchase	LTCO
7/16/02	Partners	BVF	1,200	$	3.7357	Purchase	LTCO
7/17/02	Partners	BVF	500	$	3.7600	Purchase	LTCO
7/19/02	Partners	BVF	2,000	$	3.7000	Purchase	LTCO
7/22/02	Partners	BVF	3,300	$	3.7173	Purchase	LTCO
7/23/02	Partners	BVF	13,000	$	3.7564	Purchase	LTCO
7/24/02	Partners	BVF	10,900	$	3.6683	Purchase	LTCO
7/25/02	Partners	BVF	4,200	$	3.8500	Purchase	LTCO
7/26/02	Partners	BVF	6,000	$	3.8500	Purchase	LTCO
7/29/02	Partners	BVF	12,000	$	3.8524	Purchase	LTCO
6/6/02	Partners	BVF2	2,000	$	3.8500	Purchase	LTCO
6/28/02	Partners	BVF2	1,000	$	3.7500	Purchase	LTCO
7/2/02	Partners	BVF2	80	$	3.7500	Purchase	LTCO
7/15/02	Partners	BVF2	1,000	$	3.8000	Purchase	LTCO
7/16/02	Partners	BVF2	1,000	$	3.7357	Purchase	LTCO
7/19/02	Partners	BVF2	1,000	$	3.7000	Purchase	LTCO
7/22/02	Partners	BVF2	3,000	$	3.7173	Purchase	LTCO
7/23/02	Partners	BVF2	10,000	$	3.7564	Purchase	LTCO
7/24/02	Partners	BVF2	8,000	$	3.6683	Purchase	LTCO
7/25/02	Partners	BVF2	2,000	$	3.8500	Purchase	LTCO
7/26/02	Partners	BVF2	4,000	$	3.8500	Purchase	LTCO
7/29/02	Partners	BVF2	8,000	$	3.8524	Purchase	LTCO
6/3/02	Partners	Investments	1,000	$	3.8500	Purchase	LTCO
6/6/02	Partners	Investments	4,000	$	3.8500	Purchase	LTCO
6/27/02	Partners	Investments	100	$	3.7500	Purchase	LTCO
6/28/02	Partners	Investments	1,000	$	3.7500	Purchase	LTCO
7/2/02	Partners	Investments	150	$	3.7500	Purchase	LTCO
7/12/02	Partners	Investments	1,000	$	3.8000	Purchase	LTCO
7/15/02	Partners	Investments	2,000	$	3.8000	Purchase	LTCO
7/16/02	Partners	Investments	2,000	$	3.7357	Purchase	LTCO
7/19/02	Partners	Investments	3,000	$	3.7000	Purchase	LTCO
7/22/02	Partners	Investments	6,000	$	3.7173	Purchase	LTCO
7/23/02	Partners	Investments	25,000	$	3.7564	Purchase	LTCO
7/24/02	Partners	Investments	18,000	$	3.6683	Purchase	LTCO
7/25/02	Partners	Investments	5,000	$	3.8500	Purchase	LTCO
7/26/02	Partners	Investments	10,000	$	3.8500	Purchase	LTCO
7/29/02	Partners	Investments	20,000	$	3.8524	Purchase	LTCO
7/2/02	Partners	ILL10	20	$	3.7500	Purchase	LTCO
7/22/02	Partners	ILL10	1,000	$	3.7173	Purchase	LTCO
7/23/02	Partners	ILL10	2,000	$	3.7564	Purchase	LTCO
7/24/02	Partners	ILL10	2,000	$	3.6683	Purchase	LTCO
7/26/02	Partners	ILL10	1,000	$	3.8500	Purchase	LTCO
7/29/02	Partners	ILL10	2,000	$	3.8524	Purchase	LTCO

*: Broker Code

LTCO

Ladenburg Thalman

Ex. 2 - Page 1 of 1

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EXHIBIT 2

TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS DURING THE PAST SIXTY DAYS
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