ARQT earnings: a negative outcome, -7.8%

On May 12, 2020, Arcutis Biotherapeutics, Inc. reached its earnings. The result was a negative outcome, and the stock moved -7.8% in the window around the event. It had already run -23.3% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.