Craig Wheeler and MNTA management don't strike me as particularly "investor friendly." This is not meant to be an attack on their character, but rather, explains what I believe to be their calculus when making strategic business decisions.
In other words, if Craig is mulling raising money (irrespective of the rationale), the price per share is probably not a important factor in making that decision. He will raise, as needed, to support a important business decision (irrespective of what the cost is to shareholders).
That being said, I do believe the stock will (counter-intuitively) strengthen from this point forward. We may see some initial weakness tomorrow, but i suspect the stock will bounce back aggressively after it bounces off the lows. I believe the weakness over the past few weeks was not the result of a TEVA tL approval expectation, but rather, an expectation that the company would raise.
MNTA's coffers are brimming with $$$'s, what a great time for MNTA employees. Lets hope shareholders will be able to share the glory soon. :)