[September 30, 2014]

Law Offices of Howard G. Smith Announces Investigation of Ambit Biosciences Corporation

Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Ambit Biosciences Corporation ("Ambit" or the "Company") (NASDAQ:AMBI) related to the proposed sale of the Company to Daiichi Sankyo Company, Ltd. The transaction is valued at approximately $315 million and under the terms of the agreement, Ambit shareholders are to receive $15.00 per share.

This investigation concerns whether the Board of Directors of Ambit breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.

If you are a shareholder of Ambit, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.

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