Decitabine and Midostaurin in Treating Older Patients With Newly Diagnosed Acute Myeloid Leukemia

Inclusion Criteria: * Newly-diagnosed acute myeloid leukemia (AML) per the World Health Organization \[WHO\] 2008 classification \[except t (15; 17)\], including: * De novo AML * Secondary AML * Secondary AML arising from previously-diagnosed myelodysplastic syndromes (MDS) treated with deoxyribonucleic acid (DNA) methyltransferase inhibitor (DNMTi) (ie, decitabine or azacitidine) * FLT3-ITD mutation confirmed in bone marrow aspirate * Eastern Cooperative Oncology Group (ECOG) performance status ≤ 2 * Aspartate aminotransferase (AST) and alanine aminotransferase (ALT) ≤ 2.5 x upper limit of normal (ULN) * Serum bilirubin ≤ 2.5 ULN * Serum creatinine ≤ 1.5 mg/dL and/or creatinine clearance ≥ 50 mL/min * Ejection fraction ≥ 50% by echocardiogram * Unwillingness or inability to receive conventional chemotherapy * Ability to understand and the willingness to sign a written informed consent document * Ability to adhere to the study visit schedule and other protocol requirements * Life expectancy \> 2 months Exclusion Criteria: * Receiving concomitant treatment with other anti-neoplastic agents (EXCEPTION: hydroxyurea). Prior treatment with DNMTi therapy (ie, decitabine or azacitidine) for MDS is allowed * Received anti-neoplastic treatment within 4 weeks prior to enrollment (EXCEPTION: hydroxyurea) * Received any surgical procedure, excluding central venous catheter placement or other minor procedures (eg, skin biopsy) within 14 days of study day 1 * Received any investi…