The sp also started falling the day the official results came...

The sp also started falling the day the official results came out. They confirmed the earlier positive results so I think it was just a case of sell the good news after a big run.
I think it then became a case of keep selling because of risk of delays to FDA compounded by JFK threatening to sack everyone in the FDA and then most recently I think the selling could have been in anticipation of the potential big hit to markets that we are now in thanks to Trump's tariffs. Downward momentum all through the above probably only added to the selling pressure as many sold simply because the sp was falling.
From a fundamental point of view, I think it was already oversold before the market decline accelerated but cheap stocks can get cheaper in a market meltdown like this.
The more oversold, the sharper the recovery should be whenever that is. Thankfully LTP is well prepared with around $30mill cash so doesn't need to raise cash to finish trials to see it through to FDA approval and to start selling Roxus early next year which could see LTP move to profit even before FDA approval. So long term shareholders can now just sit through this market without worrying about the cash situation.