The negative effect on the share price has already occurred, IMO, and the offering may even help the share price rise if the terms are seen as favorable for MNTA.
Dew, you're a million times more knowledgeable about biotech than I'll ever be and you're also an experienced and astute investor.
But I also know something about the market.
IMHO, this is not going to be pretty. We'll see tommorrow, and the rest of the week.