UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.)*
ADVANCED MAGNETICS, INC.
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(Name of Issuer)
Common Stock, $0.01 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
00753P103
---------
(CUSIP Number)
March 23, 2006
--------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 8
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CUSIP No. 00753P103 13G Page 2 of 8 Pages
----------------------------- ------------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investors, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 225,000 (see Item 4)
OWNED ------ ----------------------------------------------------
BY 7 SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON ------ ----------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
225,000 (see Item 4)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,000 (see Item 4)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.0% (see Item 4)
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12 TYPE OF REPORTING PERSON*
00
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*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 8
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CUSIP No. 00753P103 13G Page 3 of 8 Pages
----------------------------- ------------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sigma Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 390,000 (see Item 4)
OWNED ------ ----------------------------------------------------
BY 7 SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON ------ ----------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
390,000 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,000 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 8
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CUSIP No. 00753P103 13G Page 4 of 8 Pages
----------------------------- ------------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 615,000 (see Item 4)
OWNED ------ ----------------------------------------------------
BY 7 SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON ------ ----------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
615,000 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
615,000 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 8
Item 1(a) Name of Issuer:
--------------
Advanced Magnetics, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
61 Mooney Street
Cambridge, MA 02138
Items 2(a) Name of Person Filing:
---------------------
This statement is filed by: (i) CR Intrinsic Investors, LLC
("CR Intrinsic Investors") with respect to shares of common
stock, par value $0.01 per share, of the Issuer ("Shares")
beneficially owned by CR Intrinsic Investments, LLC ("CR
Intrinsic Investments"); (ii) Sigma Capital Management, LLC
("Sigma Management") with respect to Shares beneficially
owned by Sigma Capital Associates, LLC ("Sigma Capital
Associates") and (iii) Steven A. Cohen with respect to
Shares beneficially owned by CR Intrinsic Investors, CR
Intrinsic Investments, Sigma Management and Sigma Capital
Associates.
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office of (i) CR
Intrinsic Investors and Mr. Cohen is 72 Cummings Point Road,
Stamford, Connecticut 06902 and (ii) Sigma Management is 540
Madison Avenue, New York, New York 10022.
Item 2(c) Citizenship:
-----------
CR Intrinsic Investors and Sigma Management are Delaware
limited liability companies. Mr. Cohen is a United States
citizen.
Item 2(d) Title of Class of Securities:
----------------------------
Common Stock, par value $0.01 per share
Item 2(e) CUSIP Number:
------------
00753P103
Item 3 Not Applicable
Page 5 of 8
Item 4 Ownership:
---------
The percentages used herein are calculated based upon the
Shares issued and outstanding as of February 10, 2006 as
reported on the Issuer's quarterly report on Form 10-Q filed
with the Securities and Exchange Commission by the Issuer
for the quarterly year ended December 31, 2005, plus Shares
subsequently sold as reported on the Issuer's Form 8-K filed
on March 7, 2006.
As of the close of business on March 30, 2006:
1. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 225,000
(b) Percent of class: 2.0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 225,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
225,000
2. Sigma Capital Management, LLC
(a) Amount beneficially owned: 390,000
(b) Percent of class: 3.5%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 390,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
390,000
3. Steven A. Cohen
(a) Amount beneficially owned: 615,000
(b) Percent of class: 5.5%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 615,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
615,000
CR Intrinsic Investors, Sigma Management and Mr. Cohen own
directly no Shares. Pursuant to an investment management
agreement, CR Intrinsic Investors maintains investment and
voting power with respect to the securities held by CR
Intrinsic Investments. Pursuant to an investment management
agreement, Sigma Management maintains investment and voting
power with respect to the securities held by Sigma Capital
Associates. Mr. Cohen controls each of CR Intrinsic
Investors and Sigma Management. By reason of the provisions
of Rule 13d-3 of the Securities Exchange Act of 1934, as
amended, each of (i)
Page 6 of 8
CR Intrinsic Investors and Mr. Cohen may be deemed to own
beneficially 225,000 Shares (constituting approximately 2.0%
of the Shares outstanding) and (ii) Sigma Management and Mr.
Cohen may be deemed to own beneficially 390,000 shares
(constituting approximately 3.5% of the Shares outstanding).
Each of CR Intrinsic Investors, Sigma Management and Mr.
Cohen disclaim beneficial ownership of any of the securities
covered by this statement.
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [ ]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
------
Not Applicable
Item 7 Identification and Classification of the
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Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
-----------------------------------------
Not Applicable
Item 8 Identification and Classification of Members of the Group:
---------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 7 of 8
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: March 31, 2006
CR INTRINSIC INVESTORS, LLC
By: /s/ Peter Nussbaum
-----------------------------------
Name: Peter Nussbaum
Title: Authorized Person
SIGMA CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
-----------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
-----------------------------------
Name: Peter Nussbaum
Title: Authorized Person