New York-based investor firm Caligan Partners LP disclosed a 10.3% stake in AMAG Pharmaceuticals Inc.
According to a Schedule 13D filed Aug. 15, Caligan Partners owns 3,499,428 common shares of the pharmaceutical company.
Meanwhile, Bloomberg News reported that the activist investor is looking to push changes at the company, including reshuffling the board, cost reductions and a renewed focus on the global expansion of AMAG's kidney drug business, citing people familiar with the matter.
Waltham, Mass.-based AMAG Pharmaceuticals is developing medicines for patients with complex, under-treated health conditions, such as anemia, pregnancy complications, women's sexual function and menopause-related issues.
The company booked total revenues of $78.1 million for the three months ended June 30, but incurred a net loss of $120.8 million.
In June, AMAG scored a U.S. Food and Drug Administration approval for Vyleesi, a medicine for treating generalized hypoactive sexual desire disorder, or HSDD, a condition characterized by low sexual desire in premenopausal women. The patients can inject the drug themselves as needed before sexual activity.
The company plans to launch Vyleesi in September.