It would say it is extremely rare for the market to get it wrong in a valuation of an equity ie ZHCLF , but in this case, the market does not enough information for a proper valuation of this enterprise,  IMO Zenith is a steal at .30 USD , especially if there is a sale or CVR deal in the next couple of years at the same value as Constellation....  obviously there current partners, BMS, Pfizer , Astellas see something of value. I think eventually one of them will pull the trigger on a deal if the science continues to be positive in the current trials ....