Ambit Biosciences (NASDAQ:AMBI) is looking to make an impact on Acute Myloid Leukemia (AML) using a targeted strategy to replace non-specific, decades old therapies currently in use. Ambit's approach is to develop an orally available kinase inhibitor, quizartinib, which targets the FLT3 protein in cancer cells. FLT3 is a receptor tyrosine kinase important for the development of normal blood progenitor cells, and its overexpression or mutation has been linked with hematologic malignancies. In fact, 30-35% of AML patients express a specific mutant form of the protein called FLT3-ITD, while another 20% of patients have high levels of FLT3, making the protein an attractive target.
Investors are likely aware of the success that targeted treatments have, and need look...
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