AMAG Pharmaceuticals , formerly known as Advanced Magnetics, was a high-flying biotech stock in the mid-2000s, with a peak share price of $71.45 in late 2006. The company had elicited widespread investor interest in its novel IV iron product , with the strategy of achieving a very broad-label indication for iron-deficient anemia by running a very comprehensive series of clinical trials involving nearly 2,000 patients.