Unfortunately you are a newbie who doesn't know what he's talking about. Buyouts and mergers only happen when a company has a future. The buyer takes them out to get a discount so they don't have to pay an even greater price for them later.
Nobody would merge with a half bankrupt company with a dubious pipeline. The big boys will wait for them to go totally broke and then buy up whatever assets they have for pennies on the dollar.
Ask yourself how Galena purchased Neuvax from Apthera.