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: Shares of biopharmaceutical company Protalix BioTherapeutics (AMEX: PLX) jumped 10% this morning after the company announced a European application for taliglucerase alfa.

So what: Protalix is partnering with Pfizer (NYSE: PFE) to seek authorization from the European Medicines Agency to market taliglucerase alfa to treat Gaucher disease. The companies have an agreement to develop and commercialize the drug around the world.

Now what: If approved, this would expand the market for taliglucerase alfa beyond the expanded access protocol in the U.S. and limited access in other parts of the world. This may be good news, but I would like to see some real returns before jumping into shares on speculation these treatments will be a success. Today, I'll take to the sidelines waiting for some positive earnings news from Protalix.

Interested in more info on Protalix BioTherapeutics? Add it to your watchlist.

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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