I'm just posting this from The ArcGIS help, but I was struggling trying to figure out exactly how this works, but here is what I found.
Similarly, in Map Algebra, SetNull is used to change all values that meet a specified condition to NoData. SetNull can be used for processing the remaining selected cells, to eliminate certain cells for future consideration within a model, or to create a mask. The syntax is as follows:
outraster = setnull(inraster1 > 5, inraster1)
In the above expression, any cell with a value greater than 5 will be set to NoData, and the remaining cells will retain their original value. Any location on either input containing NoData will output NoData for the location.
So potentially you could just set that really negative value to be null within Arc, if that is what you are doing.