Ponatinib for Patients Whose Advanced Solid Tumor Cancer Has Activating Mutations Involving the Following Genes: FGFR1, FGFR2, FGFR3, FGFR4, RET, KIT.

Patients with histologically or cytologically confirmed diagnosis of refractory metastatic solid tumor or chronic hematological malignancy who are eligible for investigational drug therapy

Patients must have tumor suitable for biopsy (as assessed by trained specialists in interventional radiology) and medically fit to undergo a biopsy or surgical procedure OR if patients do not have a tumor suitable for biopsy but have another tissue available for molecular evaluation

Patients should have activating genomic alterations in FGFR (mutations, fusions or amplifications \[\> 6 copies\]) or activating genomic alterations in KIT, platelet-derived growth factor receptor alpha \[PDGFRα\], ret proto-oncogene \[RET\], ABL proto-oncogene 1, non-receptor tyrosine kinase \[ABL1\] and fms-related tyrosine kinase 3 \[FLT3\] by any validated Clinical Laboratory Improvement Amendments \[CLIA\]-certified molecular testing (fluorescent in situ hybridization \[FISH\], polymerase chain reaction \[PCR\] or sequencing data are acceptable); CLIA validated results from other institutions; diagnostic labs (e.g. foundation medicine) are acceptable; additional types of activating alterations in these genes can be approved by the principal investigator (PI)

Patients with advanced cancers should have had at least one prior therapy that is considered standard for that disease type

Patients with solid tumors must have measurable disease (Response Evaluation Criteria in Solid Tumors \[RECIST\] 1.1), defined as at least one lesion that can be accurately measured in at least one dimension (longest diameter to be recorded for non-nodal lesions and short axis for nodal lesions) as \>= 20 mm with conventional techniques or as \>= 10 mm with spiral computed tomography (CT) scan, magnetic resonance imaging (MRI), or calipers by clinical exam

Eastern Cooperative Oncology Group (ECOG) performance status =\< 1 (Karnofsky \>= 80%)

Life expectancy of greater than 3 months

Patients with multiple malignancies remain eligible

Patients with an inherited cancer syndrome or a medical history suggestive of an inherited cancer syndrome remain eligible

Patients must have controlled blood pressure with a systolic blood pressure \< 140 mmHg and diastolic \< 90 mmHg; anti-hypertensive medications are permitted

Women of child-bearing potential and men must agree to use adequate contraception (hormonal or barrier method of birth control; abstinence) prior to study entry and through 4 months after the end of treatment; for females of childbearing potential, a negative pregnancy test must be documented prior to randomization

Absolute neutrophil count \>= 1,500/mcL

Platelets \>= 75,000/mcL

Total bilirubin =\< 1.5 x upper limit of normal (ULN), unless due to Gilbert's syndrome (\< 5 if liver involvement with primary tumor)

Serum lipase and amylase =\< 1.5 x ULN

Aspartate aminotransferase (AST) (serum glutamic oxaloacetic transaminase \[SGOT\])/alanine aminotransferase (ALT) (serum glutamate pyruvate transaminase \[SGPT\]) =\< 2.5 x institutional upper limit of normal

Left ventricular ejection fraction (LVEF) \>= institutional lower limit of normal by echocardiogram (ECHO) or multi gated acquisition (MUGA)

Serum creatinine =\< 1.5 mg/dL OR calculated creatinine clearance (Cockcroft-Gault formula) \>= 50 mL/min OR 24-hour urine creatinine clearance \>= 50 mL/min

Ability to understand and the willingness to sign a written informed consent document

Patients with macular edema, retinal vein occlusion or retinal hemorrhage are excluded.

Patients who have received prior FGFR targeted therapy

What this study is about