It's not Array that ended collaboration. What this means is that Amgen does not see good reason to develop AMG151 any further and hands it back to Array. Array already got paid for it and can just as well shelf it for good - they have plenty of drugs in the pipeline. Array needed to trim some fat and uses this hiccup as an excuse to cut 50+ people. There were never 50 people working on this collaboration or any other. Those laid off are undesirables across the board who were let go to make sure that the financials look good. It's a natural life cycle of a biotech company. Not every drug candidate makes it all the way to the market, and when they fail it usually costs people their jobs.
Forget about Amgen collaboration. Array got 75M from them - good return on their investment. And all the good people that toiled for years on making it happen are laid off now. Array is all about MEK , ARRY-614, ARRY-520 and ARRY-502 now.
I think so. Hopefully after the CC the price could come up a little bit. I think they will explain why end the collaboration and the lay off. The earning is good but those two news really drag the price down!! Anyway I long ARRY