<< How about the company announces some sort of partnership or association with a Big PHarma. As the CEO has hinted might happen. >>
That is a very good possibility.
One of the conditions for the Cash Incentive Bonus Plan is a merger. That plan has 14 milestones. 12 of the 14 milestones have already been achieved, and participants are owed about $150 million. But one of the only ways for them to get paid is through a merger. So there is HUGE incentive for a merger.