From our perspective, we want the big pharma deal to reaffirm our investment and belief in AMBS...and to drive away the nay-sayers buzzing around....and see the pps climb.
From a business perspective, if you have the $$ available, wouldn't it make more sense to further develop and prove the product so that you can then ask for a larger deal? I would think this is especially true of MANF, given the huge disappointments observed with GDNF this year..