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ADVANCED MAGNETICS, INC. ANNOUNCES PRICING OF 1,750,000 SHARES OF COMMON STOCK AT $24.375 PER SHARE

 ADVANCED MAGNETICS, INC. ANNOUNCES PRICING OF 1,750,000 SHARES
 OF COMMON STOCK AT $24.375 PER SHARE
 CAMBRIDGE, Mass., Feb 5 /PRNewswire/ -- Advanced Magnetics, Inc. (AMEX: AVM) announced that its previously announced offering of 1,750,000 shares of common stock has been priced at $24.375 per share. The company has granted to the underwriters the option to sell an additional 262,500 shares to cover over-allotments. The offering is being managed by PaineWebber Inc., The First Boston Corporation, and Adams, Harkness & Hill, Inc.
 Of the total offering, 1,062,500 shares are being sold by the company and 687,500 shares are being sold by certain stockholders. Advanced Magnetics intends to use the proceeds from the offering principally for increased research and development, expanded facilities, capital equipment, potential acquisitions and general corporate purposes.
 Advanced Magnetics, Inc. is a medical diagnostic company involved in the development and manufacturing of magnetic resonance imaging (MRI) contrast agents for diagnosis of cancer and other diseases; drug delivery and cell separation systems; and in vitro clinical laboratory and biomedical research products.
 Prospectuses may be obtained from Prospectus Department, PaineWebber Incorporated, 1000 Harbour Blvd., Weehawken, N.J. 07087, The First Boston Corporation, 55 East 52nd St., Park Ave. Plaza, New York, N.Y., 10055, or Adams, Harkness & Hill, Inc., One Liberty Square, Boston, Mass., 02109.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 such state.
 -0- 2/5/92
 /CONTACT: Jerome Goldstein, president or Anthony Annese, vice president of finance of Advanced Magnetics, 617-497-2070/
 (AVM) CO: Advanced Magnetics ST: Massachusetts IN: MTC SU:


EG-DD -- NE001 -- 7044 02/05/92 09:20 EST
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Publication:PR Newswire
Date:Feb 5, 1992
Words:311
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