Thanks @justdoit7 A very informative article and one that...

Thanks @justdoit7 A very informative article and one that provides clear evidence that:
1. Oncology companies are the flavour for buy-outs. Quote "A second look at where the deals are happening in terms of therapy areas shows a predominance of oncology buyouts"
2. the real money to be made from a buy out is following successful PII trials. Quote: "it certainly seems that companies with phase II assets attract the highest price tags, and that this price has been rising", and
2. if PII trials are successful its very likely that the company would be subject to a T/O. Quote: "Intense rivalry over oncology projects means that very few small companies with promising assets make it into phase III before being taken out"

Although an older article as @justdoit7 mentions I believe the take aways have not changed significantly

A lot to look forward to IMHO