This is a huge bargain today. It should have lost about 20% on this news but is down almost double that. I just bought large position. Merck was previously in negotiations for Z160 - it was said they offered 500 million. Market cap here is under $100 milion so I strongly believe Merck makes a play for the company. This is a great buy here. WARNING - I would not be short here - you could be wiped out!