UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


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                                 SCHEDULE 13G





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


                    	ADVANCED MAGNETICS INC.
             -----------------------------------------------------
                                (Name of Issuer)

                 		COMMON STOCK
             -----------------------------------------------------
                         (Title of Class of Securities)

                   		00753P103
             -----------------------------------------------------
                                 (CUSIP Number)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[] Rule 13d-1(b)
[x] Rule 13d-1(c)
[] 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).



CUSIP No.  00753P103



- --------------------------------------------------------------------------------
   1.  NAME OF REPORTING PERSON(S)
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)

       LESLIE GOLDSTEIN



- --------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

         (a)  [  ]
         (b)  [  ]


- --------------------------------------------------------------------------------
   3.  SEC USE ONLY




- --------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION


      USA

- --------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES          100,000
BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH
			200,000

   REPORTING      --------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH           	100,000
- --------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER

                   	388,112
- --------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

488,112
- --------------------------------------------------------------------------------
  10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



- --------------------------------------------------------------------------------
  11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.3%
- --------------------------------------------------------------------------------
  12.  TYPE OF REPORTING PERSON*


IN
- --------------------------------------------------------------------------------



Item 1.     (a)   Name of Issuer:

                 	ADVANCED MAGNETICS INC.
                  --------------------------------------------------------------
            (b)   Address of Issuer's Principal Executive Offices:

                	61 Mooney Street
			Cambridge, MA 02138
                 --------------------------------------------------------------
Item 2.    (a)   Name of Person Filing:
                  LESLIE GOLDSTEIN
                 --------------------------------------------------------------
           (b)   Address of Principal Business Office, or if None, Residence:
                  C/O INGALLS & SNYDER, 61 BROADWAY, NEW YORK, NY 10006
                 --------------------------------------------------------------
           (c)   Citizenship:
                               USA
                 --------------------------------------------------------------
           (d)   Title of Class of Securities:
                  		COMMON STOCK
                 --------------------------------------------------------------
           (e)   CUSIP Number:
                                00753P103
                  --------------------------------------------------------------
Item 3.     If this statement  is filed  pursuant to Rules 240.13d-(1), or
            13d-2(b) or (c), check whether the person filing is a:

			INAPPLICABLE

            (a)   []   Broker or Dealer  registered under Section  15 of  the
                        Act, (15 U.S.C 78o)

            (b)   [ ]   Bank as defined in Section 3(a)(6) of the Act,
			(15 U.S.C 78c)

            (c)   [ ]   Insurance Company  as defined  in Section  3(a)(19) of
                        the Act, (15 U.S.C 78c)

            (d)   [ ]   Investment Company registered under  Section 8 of  the
                        Investment Company Act of 1940 (15 U.S.C 80a-8)

            (e)   []   Investment Adviser in accordance with
			Section 240.13d-1(b)(1)(ii)(E)

            (f)   [ ]   Employee Benefit Plan or endowment fund in accordance
			to Section 240.13d-1(b)(ii)(F)

            (g)   [ ]   A parent holding company or control person in
			accordance  with Section 240.13d-1(b)(1)(ii)(G)


	    (h)   [ ]   A savings associations as defined in Section 3(b) of the
			Federal Deposit Insurance Act (12 U.S.C 1813)

	    (i)	  [ ]	A church plan that is excluded from the definition of an
			investment company under section 3(c)(14) of the Investment
			Company Act of 1940 (15 U.S.C 80a-3)

	    (j)   [ ] 	Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)



Item 4.     Ownership.

            (a) Amount beneficially owned: 488,112----------,

            (b) Percent of class: 6.29--------------------,

            (c) Number of shares as to which such person has:

                  (i) Sole power to vote or to direct the vote
	100,000----,

                  (ii) Shared power to vote or to direct the vote
	200,000---,

                  (iii) Sole power to dispose or to direct the disposition of
	100,000----,


                  (iv) Shared power to dispose or to direct the disposition of
	388,112-----



Item 5.     Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ]. INAPPLICABLE

Item 6.     Ownership of More Than Five Percent on Behalf of Another Person.

The securities reported under sole voting and sole dispositive power are
securities owned by Leslie Goldstein ("Goldstein"). The securities reported
under shared voting power are those owned by The Leslie Goldstein and
Roslyn Goldstein Foundation (the "Foundation"). Goldstein and Roslyn
Goldstein, his wife, are the co-trustees of the Foundation and, as such,
share the power to vote and dispose of the shares owned by it.
The securities reported under shared dispositive power include those
owned by the Foundation and additional securities owned by clients of
Ingalls & Snyder, LLC ("I&S"), a registered broker-dealer over which
Goldstein has discretionary dispositive authority. Goldstein is a Director
of I&S and an investment manager with that firm.
The aggregation of the foregoing ownership categories results
in Goldstein's here reported beneficial ownership of 6.3% of the
outstanding common shares of this company.


Item 7.     Identification and Classification of the Subsidiary which Acquired
            the Security Being Reported on By the Parent Holding Company.

		INAPPLICABLE

Item 8.     Identification and Classification of Members of the Group.

		INAPPLICABLE

Item 9.     Notice of Dissolution of Group.

		INAPPLICABLE

Item 10.    Certification.



	    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.


Date: 11/5/2003


- ----------------------------------
                      (Signature)*
LESLIE GOLDSTEIN


- ----------------------------------
                      (Name/Title)


* Attention. Intentional misstatements or omissions of fact constitute federal
  criminal violations (see 18 U.S.C. 1001).