I'd much rather see a partner take a 50% stake. That would put a floor on the stock price at 2X, with X being what the partner paid per share. That would allow for speculators to run the SP past 2X based on future growth and revenue stream potentials that might not be reflected in a straight up BO price.
But there are no firm CDMO contracts (or at least renegotiated contracts) in place in the US or EU. So, what’s that about if they’re want to have production capacity ready to launch?