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.

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.

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.

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