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 small-cap pharmaceutical company Antares Pharma (Nasdaq: ATRS) climbed as high as 12% today after announcing positive results from an Actual Human Use study for its rheumatoid arthritis (RA) treatment VIBEX Methotrexate, or MTX .

So what: The results of the study showed that self-administration of MTX using the VIBEX Medi-Jet is safe and well tolerated, pushing the small-cap company yet another step closer to profitability. More importantly, the news validates Antares' technology platform upon which management is developing multiple products, giving investors plenty of good vibes over its growth prospects going forward.

Now what: Naturally, management fully intends to proceed with its plans to bring VIBEX MTX to market. "These study results along with the positive Usability Study results previously reported in patients with severe to very severe hand function impairment keep us on schedule for an early 2013 filing of the New Drug Application for VIBEX MTX, a potential new treatment option for patients who suffer with RA," said Vice President of Product Development Kaushik Dave. So while Antares might still be too speculative for average investors, today's positive news, coupled with the fact that the shares remain well off their 52-week high, make the stock an interesting pick for biotech-savvy Fools.

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