I think you're misunderstanding the difference bet

I think you're misunderstanding the difference between share price and market cap. If Cytodyn today were to do a reverse split of say 100 to 1, our share price would be around $20 but our value would not change. That would not make another company more likely to buy us for more money, they're going to spend the same $20 billion (or whatever number they pick) regardless of share price.

If we have stellar results in our phase 2 mssCRC trial and our market cap rises because we look closer to approval, our share price will go up and a company would purchase us for more because the risk to them would decrease.

My point in bringing up share value not really mattering to a purchasing company is because several people have said "Company X got bought out for $80/share" and think that means we should be bought out around that amount. But if they only had 40 million shares outstanding, that's only $3.2 billion dollars which would only equate to ~$2.13 a share for Cytodyn to reach the same $3.2 billion value.

Of course, you are correct that how much someone will pay vs. how much someone will accept plays into the actual purchase price of the company, that's how negotiations work. We also likely wouldn't see the company bought out for large multiples of our current value but that's because we're more likely to see a partnership where we have to prove the drug out in trials before they will consider a BO so our value will rise as we achieve milestones that make us more attractive for a BO. Believe it or not we're still considered a risky investment to BP even though everyone on this board knows that it's when, not if. The less risky we become, the bigger that buyout number becomes.