Based on the run up of the past few months, I wouldn't be surprised if the stock drifted back to the 80 cent range. There are probably at least 30 days before there will be any news. Due diligence done at end of month and then probably a full month to negotiate. So we might see some sellers short-term.
30 days - The definition of a long term shareholder in this market - Sigh..............
Well, I am not hoping for 80 cents, but looking at the three month chart, that looks like bomber support. I could also see support developing around 1.10.
Given the relatively low float for this little biotech, I think buyers might keep supporting the stock above a buck. I don't know how much due diligence one can do on this little company. The negotiations may have already started.