Amgen's Planning to Take a Bite Out of Cancer. Here's What It Means for the Stock.
Cancer bites, but Amgen (NASDAQ: AMGN) is going to keep biting back. In fact, it's currently developing a handful of oncology medicines that it describes as bispecific T-cell engager therapies, or BiTEs for short.
As a relatively new therapeutic modality, can these drugs pave the way for the company to become more valuable, or are investors likely to be disappointed? Let's analyze what they do -- and why -- to uncover the issue in full.
BiTEs are intended to treat solid tumor cancers like small-cell lung cancer, multiple myeloma, and prostate cancer, as well as blood cancers like acute myeloid leukemia (AML). To accomplish that, BiTEs act as a glue that only adheres to specific locations on tumor cells, and also to specific locations on T-cells.
Source Fool.com
Amgen Inc. Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 296 € there is a slightly positive potential of 6.4% for Amgen Inc. compared to the current price of 278.2 €.
