Market cap today 1.8 billion, 51% 900 million well, thoughtful buy out with share holder support ( especially who do this everyday) maybe 30% of shares. This drops strike price lower, there are trillions of side line money now, I hope, given a good proxy a proposal would have support of shareholders. Truly scientifically backed with the miasma of uncertain unproven products with ridiculous speculation by private investors and institutional money afraid of missing opportunities, could make this kind of venture exciting. Remember big money on the sideline is producing less than .5% return, they will not move all of the money but to bracket return, risk tolerance is lowered, this what they do. Different equity source than big Pharma, they are already bogged down with capital investments in billions with dozens of competitors. This not a corporate raid simply a way to quickly replace to a better management team. On a smaller scale think of Mark Cuban, or Bain Capitol or for that matter Pershing, which has had rich experience in Pharma take overs.