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.

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Source Fool.com