The fact that Marina is terminating their building lease in Bothell doesn't necessarily mean they are preparing for a merger or buyout. Maybe they will receive or raise a large amount of cash and will set up a new lab closer to ProNAi or Mirna or the Pharma community in the NY DC Phila region.
Just because the 10K said "possible merger" doesn't mean it will happen. They are required to list every possible scenario and potential Act of God in those documents to avoid potential lawsuits.
Sometimes investors are surprising in their ability to be unimaginative, reactive and prone to panic. Company is out of cash temporarily? Oh I guess the stock should be worth 34 cents. Forget about the fact that one successful drug could be worth hundreds of millions of dollars. Just makes it easier for the wiser investors.
"Just makes it easier for the wiser investors." Or VERY easy for the foolish investors. As an aside, I wanted to thank Moosey for his gift of a box of Twinkies! I hear they're going for $100.00 on the internet. What a country... Oh by the way MRNA won't exist in 6 months in ANY form.