In the following video, Fool contributor Maxxwell Chatsko updates investors on a recent development from biotechnology giant Amgen  (NASDAQ: AMGN) . The company announced new, positive phase 3 results for its metastatic colorectal cancer drug Vectibix when compared to competitor Erbitux. While investors continue to have high hopes for Vectibix, this clinical trial win is still just one small step in the drug's journey to potential blockbuster status.

While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. The Motley Fool's free report "3 Stocks That Will Help You Retire Rich" names stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.


Editor's note: An earlier version of this article misidentified Vectibix as an immunotherapy product. Also, the phase 3 trial was not for an expanded indication but instead a head-to head comparison in an indication for which it is already approved. The Fool regrets the error.

The article Don't Get Too Excited About This Cancer Drug Yet originally appeared on Fool.com.

Fool contributor Maxx Chatsko has no position in any stocks mentioned. Check out his personal portfolio, his CAPS page, or follow him on Twitter @BlacknGoldFool to keep up with his writing on energy, bioprocessing, and emerging technologies. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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