In Part 1, the primary objectives are: To examine the safety and tolerability of AKN-028 and to determine the recommended Phase 2 dose (RPTD) of AKN-028 for further evaluation in Part 2 in the same patient population; and To characterize the pharmacokinetic (PK) parameters for AKN-028 in patients with AML. In Part 2, the primary objective is to determine the overall remission rate (OR) defined as CR (complete remission) + CRi (CR with incomplete recovery) + PR (partial remission)