I prefer a licensing agreement with a big pharma company and I think that is the most likely outcome. One of the difficulties with a buy out is how to value all the drugs in the pipeline that need to be studied. IMO many of the analogues of Brilacidin and Kevetrin will become successful pharmaceuticals in the future.
Several biotechs have been exploded by using a licensing strategy. See my previous posts regarding Regeneron #72594 and Brilacidin # 65557