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: Regeneron Pharmaceuticals (Nasdaq: REGN) shares jumped 16% today after the company announced results from VEGF Trap-Eye testing.

So what: The phase 3 testing showed good results for treating age-related macular degeneration. Patients suffering from this condition will be pleased to hear the treatment requires fewer injections, saving pain and trips to the doctor.

Now what: This definitely gives a boost to Regeneron's prospects, but there is still a ways to go before final approval. The company plans to submit regulatory applications next year, and we may see more losses until its financials turn around. I'll take a wait-and-see approach until there's a better entry point than the highs of today.

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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.

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