This is the anti-clark (iwfal) view of browne - rather than stubbornly hanging onto rights to the drug at the expense of shareholders, perahps he doesn't want to partner bc he is hanging on to rights to tee it up for a buyout The raise at 17 seems to have made everyone think this not likely, however it could be that Browne realized suitors won't give favorable terms unless the drug performs in the current set of trials so the raise could have been a bridge to 2020