The sharp decline in BBLG's stock price is a direct result of the announced public offering and private placement, which is typically perceived negatively by the market as it often leads to dilution of existing shares. The offering price being set below the current market price further exacerbates the negative sentiment, leading to a significant drop in the stock's value. The short-term impact is likely to be negative as investors adjust to the new equity being introduced at a lower price point.