Not necessarily so. Advent is the manufacturing arm. And NWBO owns Flasworks. As far as development of assets- all they need is cash. Partnership can gain a sales force and pushing other indications. Or just selling Cs outright. The preferred C shares are there for a reason. To generate cash with or without a partner. I think a partner.
Re valuation- there’s been a quiet period for 2 years, no JA describing Phase 3 and little info on combo therapies has been made public. Good luck with valuations. If the preferred C gets issued to a BP or financial strategic there we go- they have NDA’s.