Ambit Biosciences Corporation, a biotech developing small molecule therapeutics for the treatment of cancer with Astellas Pharma, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The San Diego, CA-based company, which was founded in 2000 and booked $23 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol AMBT. J.P. Morgan and Credit Suisse are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
