Not likely. If they would buy more than 5% they would need to disclose that which would drive the price up and hurt their negotiating (make the rest of the deal more expensive). They'd be better off doing a deal directly with the company from the outset.
or the deal includes the purchase of a number of shares at a premium price direct from the company, an equity investment at say 12-15/sh, which will make a pharma decent profit when it runs into the 20 and 30 range, as it will.
I personally doubt that a pharma is buyng on the open market, but I do not discount the equity component of a potential partner deal. Prefer it be all cash in the upfront, but if it was 50:50 cash and equity for a larger upfront total that would work too.
" Re: Outside Possibility..... 18 minutes ago if you own >5% of a company, you have to file with the sec
one person/company owns around 1.2mm shrs, they would have to file and we'd know who they are
i think we got news pending myself"
First of all they would have, I believe, 48 hours to file. Secondly, large pharmas usually have several corporate entities, so that the shares can be distributed, to be consolidated only when and if they choose to go public.