Septmike, Ah yes, the old 'fire hydrant formation' :o)
The shelf registration would help explain the selloff today, or be the trigger. But it's much better having a shelf in place, it will make raising money quicker and less disruptive, and with the high share price the dilution will be minimal. LWLG can build up a sizable cash hoard, fund expansion, have more leverage in partnership negotiations, etc.