The good thing about M&A deals is that historically the buyout comes after a partnership that got the p2 trial done. It is not normal for a small biotech to go out and get a p2 done and then get a partner or get bought, usually the partnership precedes the buyout.

I always thought Cytodyn got way to far ahead with HIV and blew right past the partnership window. It they would have teamed up at p1 or p2, we would have been bought out long ago and all the amarex/FDA circus could have been avoided. However, all of these new indications would have been left for the buyer's benefit or never realized at all.