Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Ambit Biosciences Corporation
Initial Public Offering
Baird served as a co-manager on this offering.
Ambit Biosciences Corporation (“Ambit” or the “Company”) (NASDAQ: AMBI) recently completed an initial public offering of 8,125,000 shares of common stock at a price of $8.00 per share, generating gross proceeds of $65 million. The Company intends to use the net proceeds from the offering to fund continued clinical development of its lead candidate, quizartinib (AC220), and other programs in its clinical pipeline, and for working capital and general corporate purposes.
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). Ambit is based in San Diego, California.