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 ARIAD Pharmaceuticals (Nasdaq: ARIA) have jumped 27% today after the company announced positive results from a drug trial.

So what: Ridaforolimus met the primary endpoint of a phase 3 SUCCEED trial for cancer treatment, improving progression-free survival in patients with metastatic soft-tissue or bone sarcomas. Merck (NYSE: MRK), the company's partner on the drug, is planning to file for marketing approval of oral ridaforolimus under an exclusive license and collaboration agreement this year.

Now what: Late last month, investors bid up ARIAD's shares, anticipating good news from this trial, and today their bets paid off. ARIAD has a solid pipeline, and with the finish line nearing on one of its drugs, fundamentals may soon start catching up with expectations. Since November, shares have nearly doubled, but with this positive news now in the books, I think shares have further to run.

Interested in more info on ARIAD Pharmaceuticals? 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 Motley Fool CAPS picks at TMFFlushDraw.

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