Your thoughts about a Pfizer partnership makes incredible sense to me. One of the best intelligence assessments I have read so far. Seen as a coming strategy, planned for quite some time, it explains a lot in regards to delays, and at the end a blockbuster combination.
The key issue is how you use the ATM machine. Without ANY question , wisely used and used to strike a deal with the financing at hand, is great. We have to trust the company and if you do not trust the company , it is better to sell your shares.