Inclusion Criteria:

          1. Be between the ages of ≥18 and ≤65 years

          2. Have an established, pathologically confirmed diagnoses of AML by World Health
             Organization (WHO) criteria excluding acute promyelocytic leukemia (APL-M3) with a
             bone marrow of >5% blasts based on histology or flow cytometry

          3. Be in first relapse (within 24 months of CR) or have failed induction therapy* (no CR
             or CRi after treatment with an intensive regimen (eg, anthracycline/cytarabine ±
             etoposide, gemtuzumab ozogamicin, or cladribine).

             *Induction therapy may involve 1 or 2 cycles of the same regimen. Efficacy assessment
             of induction therapy must be >21 days from the start of the previous induction cycle.

          4. Demonstrate MCL-1 dependence of ≥30% by mitochondrial profiling in bone marrow.

          5. Have an Eastern Cooperative Oncology Group (ECOG) performance status (PS) ≤2

          6. Have a serum creatinine level ≤1.8 mg/dL

          7. Have an alanine aminotransferase (ALT)/aspartate aminotransferase (AST) level ≤5 times
             upper limit of normal (ULN)

          8. Have a total bilirubin level ≤2.0 mg/dL (unless secondary to Gilbert syndrome,
             hemolysis, or leukemia)

          9. Have a left ventricular ejection fraction (LVEF) >45% by echocardiogram (ECHO) or
             multigated acquisition (MUGA) scan

         10. Be nonfertile or agree to use an adequate method of contraception. Sexually active
             patients and their partners must use an effective method of contraception associated
             with a low failure rate during and for at least 6 months after completion of study
             therapy.

         11. Be able to comply with the requirements of the entire study.

         12. Provide written informed consent prior to any study related procedure.

        Exclusion Criteria:

          1. Received more than 2 cycles of induction therapy for AML. Investigational agents as
             part of front-line therapy for AML may by acceptable following discussion with the
             Medical Monitor. Hydroxyurea is permitted (see #5 below).

          2. Received any previous treatment with alvocidib or any other CDK inhibitor

          3. Received a hematopoietic stem cell transplant within the previous 2 months

          4. Have clinically significant graft versus host disease (GVHD), or GVHD requiring
             initiation or escalation of treatment within the last 21 days

          5. Require concomitant chemotherapy, radiation therapy, or immunotherapy. Hydroxyurea is
             allowed up to the evening before starting (but not within 12 hours) of starting
             treatment on either arm.

          6. Received >360 mg/m2 equivalents of daunorubicin

          7. Have a peripheral blast count of >30,000/mm3 (may use hydroxyurea as in #5 above)

          8. Received antileukemic therapy within the last 3 weeks (with the exception of
             hydroxyurea or if the patient has definite refractory disease). Refractory patients
             who received therapy within the last 3 weeks may be eligible with prior approval of
             the Medical Monitor.

          9. Diagnosed with acute promyelocytic leukemia (APL, M3)

         10. Have active central nervous system (CNS) leukemia

         11. Have evidence of uncontrolled disseminated intravascular coagulation

         12. Have an active, uncontrolled infection

         13. Have other life-threatening illness

         14. Have other active malignancies or diagnosed with other malignancies within the last 6
             months, except nonmelanoma skin cancer or cervical intraepithelial neoplasia

         15. Have mental deficits and/or psychiatric history that may compromise the ability to
             give written informed consent or to comply with the study protocol.

         16. Are pregnant and/or nursing

         17. Have received any live vaccine within 14 days prior to first study drug
             administration.