AMEC Prospector Award 2019, page-16

A cash problem (or a perception of a cat problem) has a number of issues -

1. Not enough money (obviously).
2. The market anticipates a cash raise - which increases sellers and decreases buyers, leading to decreasing SP.
3. Leaves the company vulnerable to a market black swan event which may make it difficult to raise any money for a long period of time.
4. Uncertainty. A product of all of the above. Nothing kills a SP more than uncertainty. Uncertainty is death.

Rip the bandaid off and get a cash raise done quickly.