The .25 was the buy on the news, and the slow decline was the “who wanted to buy, bought” interest decline. Absolutely agree.
On Friday, July 26, the stock dropped from a holding average of 17-18 to 15.5 with large sell lots and a small prop buy to 15.5 at the end of the day.
They knew on Friday there was no hope for approval, I highly doubt the FDA worked on Sunday just to tell them no.