ARQT earnings: a negative outcome, -9.6%

On November 4, 2021, Arcutis Biotherapeutics, Inc. reached its earnings. The result was a negative outcome, and the stock moved -9.6% in the window around the event. It had already run -10.4% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.