Look at IMA's acquisitions. They don't appear to like to form "working relationships". If BOCX goes into Chapter 11, IMA could probably buy the patents and all of Smithline for peanuts. Then, they could hire Dr. Moro, give him a nice paycheck, a corner office, a nice budget, and let him take his work to market.
And current BOCX shareholders. Oh, I forgot, we are all just pawns to raise capital down here in pennyland. Oh, well, we lose. Don't believe it can happen. I am sure you can find numerous examples on the internet. Companies rise from the ashes all the time, leaving faithful shareholers holding the bag.