X0202 3 2005-06-01 0 0000792977 ADVANCED MAGNETICS INC AVM 0001281446 GREAT POINT PARTNERS LLC 2 PICKWICK PLAZA, SUITE 450, GREENWICH CT 06830 0 0 1 0 0001239607 JAY JEFFREY R 2 PICKWICK PLAZA, SUITE 450 GREENWICH CT 06830 0 0 1 0 Shares of Common Stock 698232 I By Biomedical Value Fund, L.P. Shares of Common Stock 710578 I By Biomedical Offshore Value Fund, Ltd. Shares of Common Stock 52630 D Warrants (right to buy) 13 2005-06-01 2008-06-01 Common Stock 136842 I By Biomedical Value Fund, L.P. Warrants (right to buy) 13 2005-06-01 2008-06-01 Common Stock 140000 I By Biomedical Offshore Value Fund, L.P. Warrants (right to buy) 13 2005-06-01 2008-06-01 Common Stock 10526 D Securities held directly by BMVF and indirectly by Great Point Partners, LLC (Great Point) and Jeffrey R. Jay, M.D. (Dr. Jay). Great Point is the investment manager of BMVF and by virtue of such status may be deemed to be the beneficial owner of securities held by BMVF. Dr. Jay, as senior managing member of Great Point, has voting and investment power with respect to securities held by BMVF and may be deemed to be the beneficial owner of securities held by BMVF. Great Point and Dr. Jay each disclaim beneficial ownership of shares held by BMVF, except to the extent of its or his pecuniary interest and this report shall not be deemed to be an admission that either is the beneficial owner of such securities. Securities held directly by BMOVF and indirectly by Great Point and Dr. Jay. Great Point is the investment manager of BMOVF and by virtue of such status may be deemed to be the beneficial owner of securities held by BMOVF. Dr. Jay, as senior managing member of Great Point, has voting and investment power with respect to securities held by BMOVF and may be deemed to be the beneficial owner of securities held by BMOVF. Great Point and Dr. Jay each disclaim beneficial ownership of shares held by BMOVF, except to the extent of its or his pecuniary interest and this report shall not be deemed to be an admission that either is the beneficial owner of such securities. Securities held directly by Dr. Jay. None of BMVF, BMOVF or Great Point has any pecuniary interest in such securities. GREAT POINT PARTNERS, LLC, By: Jeffrey R. Jay, M.D. 2005-06-09 Jeffrey R. Jay, M.D. 2005-06-09