IMO, management probably leaked a conference call schedule to someone, who told someone else, who told a trader, who told, etc etc.
If you're a shareholder from $4-7-10, and you get wind of imminent binary data within 12-18 hours, I think you're probably crazy not to take some profits off the table and derisk, instead of, in the event of bad news, doing a round-trip back to $7.00.