Buy outs are largely done either because a company is perfoming well or because it needs a buyer to stay afloat. Broadly, neither condition applies in Poet's case.  The company is not at risk of running low on cash as the 2 ATM taps have demonstrated. Most long investors would agree that H2 is when reveues begin to appear and the share price will respond.  Only once  Poet  has  sales to point to would most potential suitors make a move.