Its a one year old article and how close to an acquisitions are they?
They've been talking their own next generation PMO's from before I was a shareholder (am not now). I think that is really their priority after getting other Exon's that are in the pipeline out of course.
I think it sounds good and is LONG range plans. Perhaps they do a very early (cheap) deal but I wouldn't imagine anything over say $50m. They'll need a lot of that 500m in the next couple years (and I'd expect at least another raise before being profitable if I were a long trying to do a model too). Keep in mind they were running below 1 year cash which few Bio CEO's like to be at. The gamble paid off for them.