Because the market doesn't see the news as "good". Whether or not the news is good is up to each individual, but it looks like more individuals view the news as "not good". (please save the typical penny-land market maker manipulation or the "someone must know something!" explanations)
I don't think the news is necessarily "bad", but I certainly don't view it as "good". I think the same exact same thing was said 10 months ago. The only thing that is different this time is that they have placed a specific time frame to when they're going to get started.
When they moved into the lab a year ago, they said "Hey guys, we moved into a much larger lab so we can now ramp up to commercial levels of production!". I would have been less peeved if they would have been open and honest about when it would actually start. It's not going to start until they have already been in the lab for over a year... and that's just to get started.
I believe that many had rode on the KBLB "mary-go-round" for as long as they sanely could, seizing the chance to finally financially break even, selling from .08-.10 I had these feelings as well but have been fighting them off.