Initial Public Offering

Healthcare
Initial Public Offering

Summary

Baird served as a co-manager on this offering.

About

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.

For additional information about this transaction, please contact:

David Schechner 617-426-5424
Greg Ingram 415-627-3279
Ryan Mausehund 650-858-3817
Satoshi Matsumoto 312-609-5446
Healthcare
Initial Public Offering
Date
July 2013
Company
Ambit Biosciences Corporation
Transaction
M&A
Sectors
Healthcare
Target Location
North America

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