I cant say I know how this industry works, but have worked on enough projects to know that when a project does not meet criteria you fix it or the project ends and you move on. So if this did not meet criteria do you really think they would wait 20 odd days to say No thanks it failed. They would write up notes and send to OBJ saying here is your results but no thanks.
Yes, i agree that projects run over, more often than not thus the need for extentions. Those overruns 90% of the time are due to poor upfront planning (that is due to the client not knowing what they want). I would imagine in this case they know what they are testing for.
And being an indusrty that deals with the FDA their procedure and documentation policy would be very switched on. Like ticking boxes so to speak.
As to the number of times an organisation waits to the due date to report to market well it all depends on who is trying to hide ie reporting season. Those with good results announce upgrades early.
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