I think if JNJ puts out a PR or not will be a sign of their intentions... If they are thinking buy out... probably no PR announcing a relationship. If they intend on R&D relationship and purchasing rights... there could be a PR announcing a relationship.
JNJ would not really want the added publicity (and possible related pps rise) around EPGL if they intend a buyout... A low EPGL pps is a bargaining tool for JNJ. A higher EPGL pps is a bargaining tool for EPGL... fairly simple.