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Advanced Magnetics today announced its intention to publicly offer 2,000,000 million shares of its common stock in an underwritten public offering. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock. All of the shares are being offered by Advanced Magnetics.
Morgan Stanley & Co. Incorporated is acting as the sole book-running manager for the offering. Bear Stearns, & Co. Inc. is acting as joint lead manager for the offering, Deutsche
Bank Securities Inc., Jefferies & Company, Inc. and ThinkEquity Partners LLC are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective upon filing. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by sending a request to Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, New York, New York 10004, .
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Advanced Magnetics
Advanced Magnetics, Inc. is a biopharmaceutical company that utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.
Ferumoxytol, the company's key product candidate, is being developed for use as an intravenous iron replacement therapeutic for the treatment of iron deficiency anemia in chronic kidney disease. The company has completed enrollment in four Phase III clinical trials with ferumoxytol and has presented data on three of the four trials.
Combidex, the company's other product under development, is an investigational functional molecular imaging agent consisting of iron oxide nanoparticles for use in conjunction with magnetic resonance imaging (MRI) to aid in the differentiation of cancerous from normal lymph nodes. In March 2005, the company received an approvable letter from the FDA with respect to Combidex, subject to certain conditions.
The company has two commercial products, Feridex I.V.(R) and GastroMARK(R), both of which are imaging agents that are approved and marketed in the United States, Europe and other countries.
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