I don't think any definitive conclusions can be drawn. But it appears that the issue of a buyout has been raised. And she's protecting herself. No way of telling if the change in terms occurred because she got smart leagal advice ("just in case" a buyout occurs) - or if CYCC has been approached.
Pure speculation on my part, buy I can't imagine that CYCC hasn't been approached, at least in an investigative way, by some big pharma. Either as a partner or someone wanting to buy the whole company.
Look at CYCC's potential - both with a phase 3 about to start (announcement should be in the very near future) - and the pipeline. Multiple drugs. Multiple forms or cancer/leukemia.
Big pharma is hurting to fill their pipelines. CYCC is dirt cheap - and it would be cheap even if the buyout offer was triple the current price. $5 per share, even with the fully diluted shares, is under $300 million. That's nothing to big pharma, especially given what CYCC has.
I wouldn't buy any stock as a buyout speculation. CYCC has not given any indication that they would entertain an offer, even if one was presented. So I wouldn't hold my breath that something is in the works. But CYCC is too cheap at 1.55, even if one isn't.