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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KSNfQQExeA9g+SCjDeRY+DBX7nHAiiFF8FvZNWBgI1WS3Uw6yxjjlP7aVDvNgpsK
 xojtvtqrasHMG0DYRuOeiQ==

<SEC-DOCUMENT>0001140361-06-015891.txt : 20061109
<SEC-HEADER>0001140361-06-015891.hdr.sgml : 20061109
<ACCEPTANCE-DATETIME>20061109170340
ACCESSION NUMBER:		0001140361-06-015891
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061107
FILED AS OF DATE:		20061109
DATE AS OF CHANGE:		20061109

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:			NARACHI MICHAEL
		CENTRAL INDEX KEY:			0001380022

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14732
		FILM NUMBER:		061203417

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		617-498-3300

	MAIL ADDRESS:	
		STREET 1:		C/O ADVANCED MAGNETICS, INC.
		STREET 2:		125 CAMBRIDGEPARK DRIVE, 6TH FLOOR
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02140
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-11-07</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001380022</rptOwnerCik>
            <rptOwnerName>NARACHI MICHAEL</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>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Joseph L. Farmer, attorney-in-fact</signatureName>
        <signatureDate>2006-11-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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