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: Ariad Pharmaceuticals (Nasdaq: ARIA) shares jumped 10% in early trading Monday.

So what: Shares bounced on positive results news about ridaforolimus, which treats advanced uterine cancer. The treatment was effective, but side effects were worse than some expected.

Now what: Overall this is positive news for Ariad and considering the pullback in shares later in the day might warrant a buying opportunity. Merck (NYSE: MRK), Ariad's partner in the study, stopped enrollment in the study after the favorable results. I'm looking for this positive news to push Ariad higher after the pullback in trading.

Interested in more info on Ariad Pharmaceuticals? Add it to your watchlist here 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 CAPS picks at TMFFlushDraw.

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