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: Auxilium Pharmaceuticals (Nasdaq: AUXL) shares are 15% higher today after the company released preliminary fourth-quarter results.

So what: Preliminary revenue of $61.8 million easily surpassed analyst's expectations of $57 million as the company's drugs gain momentum. In 2011, the company expects Xiaflex to generate revenue of $55 million to $67 million, including $5 million to $7 million from royalties and milestones from Pfizer (NYSE: PFE).

Now what: Auxilium is on a roll with positive results from Xiaflex, Auxilium, and Testim leading to worldwide revenue growth of 28.7% in the quarter. Despite all of this growth, the company still isn’t expected to be profitable in 2011, leaving me a little bit skeptical. I’m going to stay away from shares today, hoping for a pullback in the next week and a better entry point into the stock.

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