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Ambit Biosciences Announces Third Quarter 2013 Operating Results

r at 5:45 pm CT on Monday, December 9, in the La Nouvelle Ballroom C.

The following posters will be presented by the investigators from The Sidney Kimmel Comprehensive Cancer Center, Johns Hopkins Hospital:

Activities Of Commonly Used Tyrosine Kinase Inhibitors Against Wild Type c-KIT And Potential Impact On Normal Hematopoiesis.  Session Name: Molecular Pharmacology, Drug Resistance: Poster III.  Presentation on Monday, December 9, 2013 from 6:00 - 8:00 pm in Hall E.

The Combination Of FLT3 Inhibition And Hypomethylation Confers Synergistic Antileukemic Effects On FLT3-ITD Positive AML Cell Lines And Primary Cells: Session Name: Acute Myeloid Leukemia: Therapy, excluding Transplantation: Poster III.  Presentation on Monday, December 9, 2013 from 6:00 - 8:00 pm in Hall E.

The abstracts and posters can be accessed on the ASH website at

Third Quarter Results
Revenues were $7.7 million and $4.3 million for the quarters ended September 30, 2013 and 2012, respectively.  The increase of $3.4 million was primarily due to acceleration in the recognition of license fee revenue related to the Company's collaboration with Astellas Pharma.  In March 2013, the Company received a notice of termination of the agreement from Astellas, which termination was effective September 2013. 

Research and development expenses were $4.5 million and $8.2 million for the quarters ended September 30, 2013 and 2012, respectively.  The decrease of $3.7 million was primarily due to lower quizartinib research and development expenses.  This resulted from a reduction in the number of patients being treated and followed in our Phase 2 clinical trial, in which enrollment was completed in late 2011. 

General and administrative expenses were

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