Steve you need to do less blah blah blah and educate yourself a little more so that you can make intelligent and thoughtful contributions.

Authorizing the additional common shares are critical to continued funding regardless of whether they go it alone or planning to partner with someone.

I urge you and all posters to read this excellent publication about Biotechs. Specifically, take a look at the following sections:

Intellectual Property Rights; pg 12/54
Financing; pg 15/54
Partnering/Alliances; pg 20/54

Here are some exerts from this publiation:

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The main sources of financing of biotech companies are:
Equity (including quasi-equity) purchases by venture capital and other private investors
R&D and joint venture (including licensing) arrangements with and equity purchases by established companies
Government-supported R&D
Sales of equity in public equity markets
Payments from research and development limited partnerships
Equipment lease lines
Debt financing
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and

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Further, biotech companies confront unique problems and circumstances,
including high cash-burn rates, lengthy product development cycles, and uncertain
and often unreceptive capital market. All of these potential difficulties have led to the
development of several innovative variations on traditional financing methods.
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and

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Although smaller biotech companies may be engaged in only a few alliances at a time, some of the most active pharma players may be engaged in anywhere from thirty to forty alliances at once. Not only are these partnerships of long duration, but the agreement process itself is lengthy. In one case study, Novartis screened about one thousand alliance proposals, of which six hundred were shortlisted. Due diligence was carried out on forty companies and finally only ten to fifteen agreements were finalized. This gives an indication of the time and resources the big companies devote to this purpose.
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http://iis-db.stanford.edu/pubs/22116/Ra...