"We intend to use the net proceeds of this offering to accelerate and expand the research and development of our product candidates, and for potential strategic acquisitions of additional product candidates or other complementary assets or businesses, We believe that there are multiple additional product opportunities that we could pursue that can yield attractive returns on investment and we intend to pursue them with the additional capital from this offering. In addition, we believe there are attractive potential assets and businesses that we could acquire. We believe that having readily available cash to fund such acquisitions on a short notice will put us at a competitive advantage compared to potential other competitive acquirers. More specifically, we expect to use:
•approximately $40 million to $45 million to fund potential acquisitions;
•approximately $10 million to $15 million to accelerate and expand our pipeline; and
•the balance, together with our existing cash and cash equivalents for other general corporate and working capital purposes.
We currently have no agreements or commitments to in-license or acquire any product, product candidate or other asset or business or to complete any strategic transaction.
Pending use of the proceeds as described above, we intend to invest the net proceeds of this offering in short-term, interest-bearing, investment-grade securities or certificates of deposit.
Our management will have broad discretion regarding the use of proceeds of this offering, and investors will be relying on the judgment of our management regarding the application of the proceeds from this offering. We may change the use of these proceeds from those described above as a result of various factors such as changes in available acquisition opportunities, competitive developments, the results of our early clinical development and commercialization efforts, and other factors."