While I 100% agree that I would love to see some sort of positive liquidity event for Zenith I think with the current leadership/board the only event that could provide close to fair value to shareholders would be an outright sale of the company.

Personally I dread the idea of a public listing for Zenith because 1)Unless there is unbelievably positive news associated with a listing I think there would be a massive sell off of shares and Zenith would wind up doing financings much lower than it is currently. 2)I don't think the business leadership skill is in place to consistently impart the value of Zenith to the market and the "strategy" of constantly running a business on fumes does not generally sit well with the investment community. You don't have to look any further than an RVX chart to get the market value assessment of the business leadership of Zenith. Sanjay Lakhotia seems to be a talented biotech executive who in the past has been in some situations where value has been created but the rest of management and the board are woefully lacking in biotech business success and value creation. 

I would probably feel a little differently if Zenith had added someone to the board who has successfully created value in Biotech. Any average executive can get a public listing but it takes high quality business leadership and execution as well as quality science (which I think Zenith has) to create value through a public listing. JMO