RARE PDUFA decision: a positive outcome, +14.9%

On June 30, 2020, Ultragenyx Pharmaceutical Inc. reached its PDUFA decision. The result was a positive outcome, and the stock moved +14.9% in the window around the event. It had already run +6.9% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.