Great post RVXoldtimer. In many ways, the timing makes sense.
1) Like RVXoldtimer pointed out, the share price has rocketed up recently (and stayed there despite President Orange Voldemort's market sabotage). This presented a ripe opportunity to raise funds during this period of record high share price. Even though the set price for the proposed offering and the current share price are below the recent highs, they are still well above the prices from before April 18th.
2) Lots of events coming up in the next 4 weeks: Vascular Discovery, EAS, Gordon Conference, BIO International, ADA, ERA-EDTA. With this exposure, there is potential for a lot of folks to want in. The availability of the offering during these events capitalizes on this exposure.
3) The Third Eye Loan still needs to be paid off, as RVXoldtimer reminded us. Waiting for top-line data to come out may not afford enough time to perform a share offering and raise funds prior to the August 4th deadline. Additionally, BETonMACE may fail to achieve its primary outcome and/or have a mixed bag of results, which may significantly depress the share price after top-line data and make it more difficult to raise the necessary funds later to pay off the Third Eye loan. Doing the share offering now is kind of a more conservative/safety net approach to ensure that they can pay back the loan independent of the top-line results or market reaction.