Array BioPharma down AH following earnings beat

Array BioPharma (ARRY) slumps 2.3% AH despite beating on both lines with its FQ4 report.

The company says it has been notified that "Amgen has elected to end [the companies'] glucokinase activator partnership" — that deal "provided for up to $658M in milestone payments" to ARRY under certain circumstances. (8-K)

ARRY also says it will reduce its staff by 20%. (PR)

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