RespireRx Pharmaceuticals Inc (RSPI)

[myostrain]

Unfortunately, your suspicions are completely warranted when in relation to <5$/Sh biotechs or biotechs without multiple products in market.
Management and development minds of biotech seem to mostly have scientific minds which often do not have the best business insight and reasoning even if there are MBA credentials.
Negative history and stumbling blocks always will breed suspicion.
Probably management has been in discussion with various companies, but management cannot be stubborn with their inner valuation of the pipeline. Hopefully their data is good enough and their ability to sell the data is good enough to get a reasonable deal, back loaded or front loaded. If the data is not as good as we think, then management better modify their perception and take what they can get otherwise the current shareholder value is negligible.
If no discussions are getting close to reasonable, then I would expect a reverse split would have been appropriate in December or early January followed by a pipe.
I am still hoping that what has happened over the year, RD data and hopefully this year-good SA data, there will be very positive share price inducing news.