-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BGJLgj1q/rr7mrFnrpUVCx38CnqDvgTaGUqP9bdbRnxBjoeiOtsHapwxH4YPoNCE
 xY8VOcsi3ScryhbHm5Zh7Q==

<SEC-DOCUMENT>0000908737-06-000461.txt : 20060619
<SEC-HEADER>0000908737-06-000461.hdr.sgml : 20060619
<ACCEPTANCE-DATETIME>20060619161616
ACCESSION NUMBER:		0000908737-06-000461
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060605
FILED AS OF DATE:		20060619
DATE AS OF CHANGE:		20060619

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		125 CAMBRIDGEPARK DRIVE, 6TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02140
		BUSINESS PHONE:		6174972070

	MAIL ADDRESS:	
		STREET 1:		125 CAMBRIDGEPARK DRIVE, 6TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02140

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROBERTS EDWARD B
		CENTRAL INDEX KEY:			0001118928

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14732
		FILM NUMBER:		06912885

	BUSINESS ADDRESS:	
		STREET 1:		7 JIANGGUOMEN NEI AVE #519 TOWER 2
		STREET 2:		BRIGHT CHINA CHANG AN BLD BEIJING 100005
		CITY:			PEOPLES REP OF CHINA
		STATE:			F5
		ZIP:			00000
		BUSINESS PHONE:		(617)374-9600X6339

	MAIL ADDRESS:	
		STREET 1:		C/O  PEGASYSTEMS INC.
		STREET 2:		101 MAIN STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>form4roberts_jun2006ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-06-05</periodOfReport>

    <dateOfOriginalSubmission>2006-06-07</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000792977</issuerCik>
        <issuerName>ADVANCED MAGNETICS INC</issuerName>
        <issuerTradingSymbol>AVM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001118928</rptOwnerCik>
            <rptOwnerName>ROBERTS EDWARD B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ADVANCED MAGNETICS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>125 CAMBRIDGEPARK DRIVE, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>CAMBRIDGE</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02140</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-06-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>8000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>25.5189</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>56200</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reported securities were held by the Edward B. Roberts 2004 Qualified Annuity Interest Trust (the &quot;2004 Trust&quot;), in which
 reporting person and his spouse are the sole trustees and share voting and investment power.</footnote>
        <footnote id="F2">The proper amount of securities beneficially owned following reporting person's disposition of 8,000 shares, previously
 disclosed on Line Item 5 of the Form 4 filed on June 7, 2006 as 0 shares, was 56,200.</footnote>
        <footnote id="F3">The proper form of ownership of securities beneficially owned by the reporting person following his disposition of 8,000
 shares previously disclosed on Line Item 5 of the Form 4 filed on June 7, 2006 as Direct ownership, was Indirect ownership.</footnote>
        <footnote id="F4">The reported securities, which the reporting person retained indirect beneficial ownership in, were held by the 2004 Trust
 and the Edward B. Roberts 2006 Qualified Annuity Interest Trust, in which reporting person and his spouse are the sole
 trustees and share voting and investment power.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joseph L. Farmer, attorney-in-fact</signatureName>
        <signatureDate>2006-06-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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