In multiple phase2 studies, CPX-351, an emulsified preparation of daunorubicin and cytosine arabinoside in a 5:1 fixed molar concentration, has shown superiority over conventional daunorubicin and cytosine arabinoside(3 + 7) in the Rx of adults with AML. This superiority is even more pronounced in patients with secondary AML(AML following chemotherapy for solid malignancies, AML evolving out of myelodysplastic syndrome). Hence, for its ph3 FDA study, the company wisely selected the more limited indication of secondary AML; the chances of success in secondary AML based on prior experience seems excellent. Assuming success with ph3, the company will have a long time window under its orphan drug status to get the drug approved for conventional AML. Studies are also underway in pediatric AML and adult myelodysplastic syndrome. A potential big market for a company with a tiny market cap.