|   | x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended:  November 30, 2012 |
|--------|---|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from                                                 to                                               |
|--------|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| New York                                                                           |   | 11-3074326                        |
|------------------------------------------------------------------------------------|--------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization)                |   | (IRS Employer Identification No.) |
|                                                                               |   |                              |
| 6800 Jericho Turnpike, Suite 120W, Syosset, NY 11791                               |
| (Address of principal executive offices and Zip code)                              |
|                                                                               |   |                              |
| (516) 393 5874 (or c/o 212 986 9700)                                               |
| (Issuer's telephone number including area code)                                    |
|                                                                               |   |                              |
|                                                                               |
| (Former name, former address and former fiscal year, if changed since last report) |

| Large accelerated filer o                     |   | Accelerated filer o         |
|-----------------------------------------------|--------|-----------------------------|
| Non-accelerated filer o                       |   | Smaller reporting company x |
| (Do not check if a smaller reporting company) |   |                        |

| Class A Common Stock, $.001 Par Value |   | 1,176,025 |
|---------------------------------------|--------|-----------|
| Class B Common Stock, $.001 Par Value |   | 3,304     |
| Class                                 |   | Shares    |

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|                              |   |      | MAGNA-LAB INC.                                                                                                 |   |   |
|-----------------------------------|--------|-----------|----------------------------------------------------------------------------------------------------------------|--------|--------|
|                              |   |      | (Registrant)                                                                                                   |   |   |
|                              |
| Date:  January 18, 2013 |   | By:  | /s/ Lawrence A. Minkoff                                                                                        |   |   |
|                              |   |      | Lawrence A. Minkoff, Chairman, President and Chief Scientific Officer  (Principal Executive Officer) |
|                              |
|                              |
|                              |
|                              |   | By:       | /s/ Kenneth C. Riscica                                                                                         |   |   |
|                         |   |      | Kenneth C. Riscica, Treasurer and Secretary (Principal Financial and Accounting Officer)                       |

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| No. | Description |
|-----|-------------|

| 31.1 | Certification of Principal Executive Officer pursuant to Exchange Act Rule 13a – 14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification of Principal Financial Officer pursuant to Exchange Act Rule 13a – 14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|