Ambit Biosciences Announces Presentations of Data from Clinical Investigations of Quizartinib at the Annual Meeting of the American Society of Clinical Oncology

SAN DIEGO, May 22, 2013 /PRNewswire/ -- Ambit Biosciences Corporation (Nasdaq: AMBI) today announced that data from clinical investigations of quizartinib (AC220), a potent and selective FLT3 inhibitor, will be presented at the Annual Meeting of the American Society of Clinical Oncology, held May 31 through June 4, 2013, at McCormick Place in Chicago.

Information about the abstracts, including presentation time and location, is listed below. Abstracts can be viewed online at http://abstracts2.asco.org/.

About Quizartinib

Quizartinib (AC220) is a novel, potent, highly selective, orally bioavailable FMS-like tyrosine kinase-3 (FLT3) inhibitor currently under evaluation in a Phase 2b clinical trial as monotherapy treatment for adult patients with relapsed or refractory AML, and in two Phase 1 studies in a combination treatment regimen with chemotherapy, and as a maintenance therapy following transplant, respectively.

About Ambit Biosciences

Ambit is a biopharmaceutical company focused on the discovery, development and commercialization of drugs to treat unmet medical needs in oncology, autoimmune and inflammatory diseases by inhibiting kinases that are important drivers for those diseases. Ambit's lead drug candidate, quizartinib (AC220), is a once-daily, orally-administered potent and selective, inhibitor of FMS-like tyrosine kinase-3 (FLT3) and is currently under clinical development in patients with relapsed/refractory acute myeloid leukemia (AML) and in newly diagnosed AML patients in combination with chemotherapy as well as maintenance following a hematopoietic stem cell transplantation (HSCT). In addition to quizartinib, Ambit's clinical pipeline includes AC410, an oral JAK2 inhibitor, and CEP-32496, a BRAF inhibitor licensed to Teva Pharmaceutical Industries Ltd. Ambit's preclinical portfolio includes a proprietary CSF1R inhibitor program.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements associated with Ambit's expectations regarding future therapeutic and commercial potential of Ambit's lead drug candidate and pipeline, business plans, technologies and intellectual property. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Ambit's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. These and other risks concerning Ambit's programs are described in additional detail in Ambit's SEC filings. All forward-looking statements contained in this press release speak only as of the date on which they were made. Ambit undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contacts: 
Ian Stone or David Schull (Media) 
Russo Partners
(619) 308-6541
(212) 845-4271
[email protected] 
[email protected]

SOURCE Ambit Biosciences Corporation