I think the board is thinking about a BO the wrong

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I think the board is thinking about a BO the wrong way. It doesn't matter what our share price is to a company buying us out.

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It does for two reasons. Any company is going to offer as little as they think they can get away with. Their reasoning will be the shareholders should welcome us with open arms if we offer double the current share price. They may not realize that 46 cents a share will cause an open revolt. The second reason is if they make an offer that Cytodyn shareholders would expect their own shareholders would throw their own revolt and try to oust the entire board of directors.

When we can possibly expect a reasonable offer is when trial results prove out and an approval is almost certainly assured.