"The company just has to sit back and wait for milestone payments and potential future royalties."
It's always reassuring to see your speculative stock pumped by the media, but I think in this case it's important to consider the source. The previous article published on EXEL by Motley Fool Matt Swayne put Exelixis in the agricultural field, practicing genomic crop modification. Although this was perhaps once true, such talk in today's context comprises some seriously outdated commentary. It simply ain't so...
Brandy Betz has written a pleasantly optimistic piece on EXEL without hitting the balance sheet figures, delving too deeply into the clinical aspects of Cabozantinib, addressing the huge short interest, management concerns, or the nature of the competitive cancer space into which Cabo must necessarily attempt successful commercial entry. She also fails to note that the EXEL pipeline - with few exceptions - is all but stagnant. Those older partnerings are all relatively stale endeavors.
Don't rely on MF for qualitative DD. Do your own.