I think the price drops after such a NR simply because it is pretty clear that in the short term there will be no upward pressure on the SP. There was nothing indicating sudden new developments or take over etc. Since in addition any new major NR is months away, why would big investors buy now when they know there is nothing stopping the SP to drift lower.

I personally do not care about the SP any longer since I have lost about 85% of my investment so it is not too much more too loose. I only care about any future potential, from that point of view, the NR was reasonable promising. I just hope that they conserve their cash while still doing good work. If they have to raise money now we are basically doomed in terms of ever getting any return on our investments