Caligan Partners announced earlier that it has filed a preliminary consent statement with the SEC for shareholders to act by written consent to effect the replacement of four directors of AMAG and to, among other things, amend the company’s bylaws “to help prevent against entrenchment by incumbent directors.” Caligan’s nominees are Paul Fonteyne, former CEO of Boehringer Ingelheim USA, Lisa Gersh, former CEO of Alexander Wang, Goop, and Martha Stewart Living Omnimedia, David Johnson, Managing Partner of Caligan Partners LP, and Kenneth Shea, Senior Advisor, Guggenheim Securities. Caligan explained, “Additional information on each of the nominees is available at www.saveamag.com. Caligan has released presentation materials highlighting the operational, strategic, and capital allocation missteps that have resulted in over $1.3 billion of value destruction overseen by AMAG’s incumbent board and management. The materials note that while Caligan believes AMAG has unique, durable assets that could be worth at least $30 per share, AMAG’s current leadership will be unable to achieve that outcome for shareholders.” Shares of Amag Pharmaceuticals are up 6%, or 70c, to $11.94 in afternoon trading.