X0202 4 2006-02-27 0 0000792977 ADVANCED MAGNETICS INC AVM 0001281446 GREAT POINT PARTNERS LLC 2 PICKWICK PLAZA STE 450 GREENWICH CT 06830 0 0 1 0 0001239607 JAY JEFFREY R GREAT POINT PARTNERS, LLC 2 PICKWICK PLAZA, SUITE 450 GREENWICH CT 06830 0 0 1 0 Common Stock 2006-02-27 4 S 0 204 25.41 D 707920 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 1300 25.15 D 706620 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 260 25.12 D 706360 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 52 25.13 D 706308 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 364 25.10 D 705944 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 208 25.35 D 705736 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 104 25.26 D 705632 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 1300 25.25 D 704332 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 312 25.30 D 704020 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 520 25.29 D 703500 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 260 25.28 D 703240 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 52 25.06 D 703188 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 468 25.05 D 702720 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 156 25.30 D 702564 I By Biomedical Offshore Value Fund, Ltd. Common Stock 2006-02-28 4 S 0 260 25.00 D 702304 I By Biomedical Offshore Value Fund, Ltd. Common Stock 52630 D Great Point Partners, LLC ("Great Point") is the investment manager of Biomedical Offshore Value Fund, Ltd. ("BOVF") and by virtue of such status may be deemed to be the beneficial owner of the shares held by BOVF. Dr. Jeffrey R. Jay, M.D., as senior managing member of Great Point ("Dr. Jay"), has voting and investment power with respect to the shares held by BOVF and may be deemed to be the beneficial owner of the shares held by BOVF. Great Point and Dr. Jay disclaim beneficial ownership of the shares held by BOVF, except to the extent of any pecuniary interest, and this report shall not be deemed to be an admission that they are the beneficial owners of such securities. Securities held directly by Dr. Jay. None of Biomedical Value Fund L.P., BOVF or Great Point has any pecuniary interest in such securities. GREAT POINT PARTNERS, LLC By: /s/ Dr. Jeffrey R. Jay, M.D., as senior managing member 2006-03-02 /s/ Dr. Jeffrey R. Jay, M.D. 2006-03-02