The company wants a partnership.however, they are realists and...

The company wants a partnership.however, they are realists and recongnize that this share price exposes them to a takeover. the thing to bear in mind of course is that the major shareholders haven't been selling. The price might be at 12c now, but a takeover offer around that level would be lucky to get 1% acceptance. A lot of people/companies would have come in around the 50c level and i reckon that's about where a takeover would need to be pitched to get a good take up. That would cost a bit (2-300 million I think) meaning a partnership deal might still make more financial sense for big pharma.