September 02, 2014 11:11 PM ET

Biotechnology

Company Overview of Ambit Biosciences Corporation

Company Overview

Ambit Biosciences Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of oncology, autoimmune, and inflammatory diseases in the United States. The company’s products include quizartinib, an orally administered FMS-like tyrosine kinase 3 inhibitor that has completed Phase II clinical trials for the treatment of patients with relapsed/refractory acute myeloid leukemia. Its drug candidates also comprise AC410, a small molecule inhibitor of Janus kinase 2, which is in Phase 1 clinical trials; and AC708, a receptor tyrosine kinase inhibitor that is in pre-clinical studies for the treatment of oncology, autoimmune, and i...

11080 Roselle Street

San Diego, CA 92121

United States

Founded in 2000

53 Employees

Phone:

858-334-2100

Fax:

858-334-2192

Key Executives for Ambit Biosciences Corporation

Chief Executive Officer
Age: 57
Total Annual Compensation: $440.1K
Chief Financial Officer and Principal Accounting Officer
Age: 57
Total Annual Compensation: $302.1K
Chief Medical Officer
Age: 42
Total Annual Compensation: $376.0K
Compensation as of Fiscal Year 2013.

Ambit Biosciences Corporation Key Developments

Ambit Biosciences Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Ambit Biosciences Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of USD 26,000 against USD 11,547,000 a year ago. Loss from operations was USD 10,557,000 against income from operations of USD 2,686,000 a year ago. Net loss was USD 8,286,000 against net income of USD 5,160,000 a year ago. The decrease in revenue of USD 11.5 million was primarily due to the termination of the company's collaboration with Astellas Pharma, effective September 2013. For the six months, the company reported revenues of USD 58,000 against USD 18,139,000 a year ago. Loss from operations was USD 20,090,000 against USD 1,503,000 a year ago. Net loss was USD 17,284,000 against USD 3,142,000 a year ago.

Ambit Biosciences Mulls Acquisitions

Ambit Biosciences Corporation (NasdaqGM:AMBI) has filed a shelf registration. Ambit Biosciences may use a portion of the net proceeds to acquire or invest in businesses, products and technologies that are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions as of the date of this prospectus.

Ambit Biosciences Corporation to Report Q2, 2014 Operating Results on Aug 12, 2014

Ambit Biosciences Corporation announced that they will report Q2, 2014 operating results at 5:00 PM, Eastern Standard Time on Aug 12, 2014

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