"That is the same conclusion I came to, but I still don't see why they would not just buy this company right now for a fraction of their R&D budget if they are really interested.  That is the unanswerable question in this scenario."

Of course, they can't just buy Poet because it is not for sale.   Any buyer has to make an offer to shareholders, and they usually try to get the Board on side to recommend the offer.   I for one, would welcome any takeover offer, and all the speculation and excitement that would bring.