Study of Dovitinib and Biomarkers in Advanced Non-Small Cell Lung Cancer or Advanced Colorectal Cancer

Inclusion Criteria: * Histologically confirmed non-small cell lung cancer or colorectal cancer for which no potentially curative treatment options are available * Any number of prior treatment regimens are allowed * Immediate prior treatment regimen must have included an anti-VEGF agent. Acceptable anti-VEGF therapy includes bevacizumab, sunitinib, or sorafenib. For other anti-VEGF therapies, contact the principal investigator. * Last dose administered of bevacizumab must be at least 21-days but not more than 56-days from enrollment. * Last dose of anti-VEGF tyrosine kinase inhibitor must be at least 7-days but not more than 56-days from enrollment. * Willingness to consent to research biopsy * Measurable disease by RECIST 1.1 criteria * Available tumor site amenable to core needle biopsy as determined by the treating investigator. Any questions regarding suitability of site for biopsy will be adjudicated by the principal investigator. * Zubrod (ECOG) performance status 0 or 1 * Age ≥ 18 years old * Patients who give a written informed consent * Patients must have the following laboratory values: * Platelets ≥ 100 x 109/L * Absolute neutrophil count ≥ 1.5 x 109/L Hemoglobin \> 9 g/dL * Serum total bilirubin: ≤ 1.5 x upper limit of normal ULN * ALT and AST ≤ 3.0 x ULN ( with or without liver metastases) * Serum creatinine ≤ 1.5 x ULN or serum creatinine \>1.5 - 3 x ULN Exclusion Criteria: * Patients with known brain metastases * Patients with another primary malignancy within 3 years prior to starting study drug, with the exception of adequately treated in-situ carcinoma of the uterine cervix, or skin cancer * Patients who have received the last administration of an anticancer therapy including chemotherapy, immunotherapy, hormonal therapy and monoclonal antibodies that have not resolved to NCI CTCAE grade 1 or less. * Patients who have received the last administration of nitrosurea or mitomycin-C ≤ 6 weeks prior to starting study drug, or who have side effects that have not resolved to NCI CTCAE grade 1 or less. * Patients who have received targeted therapy ≤ 1 week prior to starting study drug, or who have not recovered from the side effects of such therapy * Patients who have had radiotherapy ≤ 4 weeks prior to starting study drug, or ≤ 2 weeks prior to starting study drug in the case of localized radiotherapy or who have not recovered from radiotherapy toxicities * Patients who have undergone major surgery, open biopsy or significant traumatic injury ≤ 4 weeks prior to starting study drug, or patients who have had minor procedures, percutaneous biopsies or placement of vascular access device ≤ 1 week prior to starting study drug, or who have not recovered from side effects of such procedure or injury * Patients with any of the following concurrent severe and/or uncontrolled medical conditions which could compromise participation in the study: * Impaired cardiac function or clinically significant cardiac diseases * Impairment of gastrointestinal (GI) function or GI disease that may significantly alter the absorption of dovitinib * Cirrhosis, chronic active hepatitis or chronic persistent hepatitis * Known diagnosis of human immunodeficiency virus infection * Patients who are currently receiving anticoagulation treatment with therapeutic doses of warfarin * Other concurrent severe and/or uncontrolled concomitant medical conditions * Pregnant or breast-feeding women * Women of child-bearing potential, who are biologically able to conceive, not employing two forms of highly effective contraception. * Fertile males not willing to use contraception, as stated above * Patients unwilling or unable to comply with the protocol