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 Nektar Therapeutics ( NKTR 0.89% ) have leapt more than 13% higher today after the biotech company reported a surprise quarterly profit following Thursday's closing bell. So what: Nektar's first-quarter revenue came in at $108.8 million, which produced earnings of $0.25 per share. Wall Street had expected only $20.2 million in revenue and a loss of $0.41 per share, but Nektar's licensing agreement with AstraZeneca ( AZN 0.62% ) paid off when the pharmaceutical giant launched Movantik, a treatment for opioid-induced constipation, in the United States on the very last day of the first quarter. AstraZeneca thus paid out $100 million in milestone payments to Nektar, of which $90 million was recognized as first-quarter revenue.