is this phal saveable (no roots, leaves deteriorating)?

[fergusdog]

Had it for about a year, was doing well, then the roots started to rot. I'm guessing it was slightly overwatered and not in the best medium (moss). By the time I took action and started to scour the net, all roots were dried up, nothing left. The plant still had 2 healthy leaves at that point. I watched some youtube videos and the general advice was to cut the roots with sterilized scissors and put it into a cup with water, without the plant touching the water and spray it with water every day. Did that for maybe six weeks now.
The leaves are yellow/brown and look like they will fall off. The plant has a stem, with the top also dried off, but at the first segment it's sprouting a new leaf that looks very healthy. What concerns me most is that there is absolutely zero sign of new roots sprouting.
Is this plant lost? Any advice to save it if it's not?