Things are not looking well, with the recent "anticipation" of good news diminishing (evident by volume)
To be fair, FSNR's volume is not obviously diminishing. It has been moving up and down on a fairly irregular basis. A day or two (or more) of low/no volume is not unusual for this stock. So citing this as evidence of "reduced anticipation of good news" is probably overstating the case.
...it's been some time since any sort of information has been presented from the company! These long and drawn out spaces between updates lead many investors with much to doubt,
Your post is evidence of the truth of this (if only for a vocal handful of investors).
Looking to the past as an indicator, when the company takes this long to make an update on progress, it usually means... "the current venue has failed, were trying something else!"