Advanced Magnetics reports earnings

The future looks a little brighter for Advanced Magnetics. The company reported a 3Q net profit of $703,981, or 11¢ per share, as compared with a net loss of $398,756, or 6¢ per share, for the same period in 2000. Working capital remains strong at approximately $24 million. Advanced Magnetics is a biopharmaceutical company that develops imaging agents to aid in the diagnosis of cancer and cardiovascular disease as well as therapeutic iron compounds for treating anemia.