Cardiol Therapeutics Inc (CRDL) shares took a significant dive on Wednesday after the company announced a $13.5 million public offering of common shares. The offering, priced at $1.60 per unit, aims to fund the clinical development of CardiolRx, a drug candidate for recurrent pericarditis treatment. The move, while intended to advance the company’s pipeline, triggered a sell-off, highlighting the complex relationship between funding announcements and stock market performance.