Why would they stop R&D development, even though they have enough cash to keep on and are almost break even, if not positive? I does not make sense. This is usually done by companies that have burn their cash and are cash strapped, but they have $278M available, and $162M without debt.
The only plausible answer is that they have a preliminary Sales Agreement that includes a multiplicative % of the cash available at the time of the sale. If this is so, maybe Merck is a suitable option, given that they would not need the R&D team.