Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Questcor Pharmaceuticals (Nasdaq: QCOR) shares jumped 10% early Friday on news the company received Food and Drug Administration approval for H.P. Acthar Gel.

So what: H.P. Acthar Gel treats seizures in infants, an extremely rare disorder that affects about 2,000 children in the U.S. annually. Questcor is also getting a seven-year exclusivity period to market the drug.

Now what: This clears up concerns over the FDA's extended review, which drove shares down in September. Questcor shares are up close to 100% over the last year, so I would be careful buying into this rally. There could be a better long-term buying opportunity if you can wait for excitement over this news to die down.

Interested in more info on Questcor? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his Motley Fool CAPS picks at TMFFlushDraw. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.