I do not doubt it. If a company is hedging it might make sense. Especially if multiple companies would be interested once all the final data is in. Also factor in the multiple applications that are being tested. I do not rule anything out.
I agree, PKTX will want to take their studies as far as possible before putting the company out for bids. With the research getting closer to success, CSmith will not accept a bargain basement price.
News 
Market Data 
Discover 
