Real wealth is the transfer $$$ to those who have patience from those who don't.
I wouldn't sweat it. Let it fall and buy more. It's like taking candy from a baby. The AMGN withfdrawl is a positive in my mind, should help ARRY focus on what's important and the headcount cut saves cash. I liked it; and I'm liking it more when I see the stock fall like this. Buying opp soon, but let a few more lemmings sell first.
There is almost no way I conceive that the AMGN news is good news. Almost certainly the drug is not worth advancing. That's bad. It's good that they reacted instantly to the news to control costs. That's very good. I felt good about management and this makes me feel better.
I suppose there is some wild #$%$ chance that they have a deal going somehow that AMGN doesn't like but if this drug was really good they would have kept it. They didn't. Frankly I am surprised its holding up as well as it has. I haven't sold any.
I see Merrimack is back chirping. Pay no attention. It's last call was to sell at $3.60 and go long at $2 or something like that. Put it on ignore. Has no credibility.
It's hard to spin the AMGN withdrawal as positive but it's not the worst thing in the world that could have happened. If they're looking for a non-core revenue stream then maybe the asthma drug will fill that role. If not, well, they'll just wrap up the loose ends and focus on heme/onc/inflammation as they claim they want to do..