Xencor's 8-K this morning checks three boxes, not one: Item 2.02 results of operations, Item 7.01 Reg FD disclosure, and Item 8.01 other material events. $XNCR +35.50% pre-market on a $1.8B drugmaker with a 70M-share float. This is not a thin-float squeeze.
Our feed carries the item numbers, not the exhibit. A results filing with an 8.01 attached could mean the gap is pricing the quarter, the other event, or both together. From here, nobody can split it, and anyone who tells you which one did the lifting is guessing.
If it opens 30% or more higher, it joins a cross-stock group. That history covers 83 prior before-the-open earnings days where a stock priced $1 or more gapped up at least 30%. 67% closed below their open, 33% closed above it, and the median open-to-close move was -1.95%. That is the population's record, not Xencor's odds. Xencor itself has zero prior 5%+ gap-up sessions in our data.
The unresolved line on file is Item 8.01. What it actually describes is the thing to read before the bell.