The termination of the sales agreement with Jefferies means that Praxis Precision Medicines will not have the immediate ability to raise up to $75 million through stock sales, which could have provided liquidity and funded ongoing operations or growth initiatives. This could be perceived negatively by investors as it limits the company's financial flexibility. However, the impact may be mitigated if the company has other means of financing or if the termination is part of a strategic shift that could benefit the company in the long term.