From previous experience they have up to one year to make a public notification if indeed the letter was actually forwarded to the board of directors. They can negociate behind close doors. If indeed an offering is in the works can someone post a link??????
You should be prosecuted for these crazy rumors. Call your bet on XOMA what it is, A GAMBLE. I am gambling here also. My GUESS is that XOMA will appreciate on good news regarding XOMA 052. I am not sure. I don't know about any takeover. I am just a bettor taking a chance... same as you and the short sellers also.