rejection email clarification

going through a lateral process as an3, trying to go upmarket from mm to bb. been two weeks since hearing back from a lateral process and got a rejection email. probably final and just clinging on to false hope, but is there ever a chance of hearing an offer after getting a rejection email. specifically, in the case where the original offer is rejected by someone else and they go down the list, is it possible? i guess im basically asking, if you get a rejection email is it over? it seems like i got the email because they wanted to give an update of some sort, but it does not seem out of the possibility that if i get lucky, they end up going down the list and offer me something. if i was the number 2 in line for an offer, would they typically not send a rejection email yet in the case of that happening, so they don't have to back track on a rejection email which might look odd? as a side question, i was also wondering how long lateral offers are typically outstanding.