Another option I haven't seen mentioned could be an acquisition. I would think that would require silence during the due diligence period, and it also might have uncovered some issues that need fixing.

I just refuse to believe that they are worth less than $10M, when China gave them half that toward the vaccine (with more promised after milestones) not too long ago...

It just doesn't make any sense unless something went horribly wrong along the way (and I'm not talking about the mice getting covid)!