-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Mcrq3ZQGMVOHBrWu5dSfqcG6eNk5m4vJ1+h+GA9TAF+YXVT5qHYmWMUcmR3mmLFW
 cRwrgY40oxhApff0XFiXJA==

<SEC-DOCUMENT>0001225854-03-000001.txt : 20030603
<SEC-HEADER>0001225854-03-000001.hdr.sgml : 20030603
<ACCEPTANCE-DATETIME>20030602174543
ACCESSION NUMBER:		0001225854-03-000001
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030531
FILED AS OF DATE:		20030603

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:		61 MOONEY ST
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138
		BUSINESS PHONE:		6174972070

	MAIL ADDRESS:	
		STREET 1:		61 MOONEY ST
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JACOBS PAULA
		CENTRAL INDEX KEY:			0001225854

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14732
		FILM NUMBER:		03728838

	BUSINESS ADDRESS:	
		STREET 1:		C/O ADVANCED MAGNETICS INC
		STREET 2:		61 MOONEY STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138
		BUSINESS PHONE:		6174972070

	MAIL ADDRESS:	
		STREET 1:		C/O ADVANCED MAGNETICS INC
		STREET 2:		61 MOONEY STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <documentType>4</documentType>

    <periodOfReport>2003-05-31</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001225854</rptOwnerCik>
            <rptOwnerName>JACOBS PAULA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-31</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value>E</value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>1380</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>3.36</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>6267</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <footnotes>
        <footnote id="F1">Stock acquired under the 2003 Employee Stock Purchase Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Paula M. Jacobs</signatureName>
        <signatureDate>2003-06-02</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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