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Array BioPharma Inc. Message Board

  • upsidedownnow upsidedownnow Aug 7, 2013 5:30 PM Flag

    Buying opportunity......

    Nothing wrong with ARRY's drug. Amgen is gathering all the cash it can because of it's plan to bid for Onyx Pharma. Let's wait and see.

    Sentiment: Buy

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    • I think that AMG151 actually failed in the clinic - Amgen cancelled their Phase II trial some time ago. But nobody was counting on it anyway, Array last mentioned it a year ago as a 8.5M milestone source. All Array was touting since then is their oncology/inflammation pipeline. No big deal for Amgen, they bid 75M on it and lost - pocket money for the company. No big deal for Array - this drug was outside of their core competency and a long shot at diabetes market.
      Overall, the layoff is a slightly positive news - cuts the burn rate once again, turns the corner towards profitability. Earnings release is also slightly positive - nobody really cares about beating estimates too much, but analysts like to see predictability and sticking to the guidance from the management. I expect ARRY to open tomorrow flat or up from the close price.

    • You're not really serious are you ?

      AMGN is an $85 BILLION dollar market cap company, these milestones to ARRY weren't even coffee break money to them, it's very obvious they see it's a waste to them, even a small waste is still a waste.

      So they back out of the deal.

      Simple as that.

3.43-0.17(-4.72%)Aug 31 4:00 PMEDT