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 drug developer Neurocrine Biosciences (Nasdaq: NBIX) jumped as much as 13% in intraday trading on heavier-than-average volume.

So what: The preliminary results are in from Neurocrine's Phase IIa study on its treatment for Tardive Dyskinesia and they look good. Tardive Dyskinesia is a disorder characterized by involuntary movement and often stems from long-term use of certain schizophrenia treatments. Using the Abnormal Involuntary Movement Scale, the study showed an overall 41.3% decrease in the involuntary movements among the treated group. The company is now initiating an Investigational New Drug application with the Food and Drug Administration.

Now what: For investors in drug developers, these positive milestones are always good news. Neurocrine scored some upfront cash from its partnership with Abbott (NYSE: ABT) last summer, but like most drug developers, losses and cash burn are a typical feature of Neurocrine's financial reports, so getting its drug candidates to the finish line as quickly and efficiently as possible is a priority.

Want to keep up to date on these stocks? Add Neurocrine Biosciences and Abbott Labs to your watchlist.

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Fool contributor Matt Koppenheffer owns shares of Abbott Labs, but does not have a financial interest in any of the other companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.