Tokai retreats from the clinic after lead drug implodes in PhIII
Over the last few days Boston-based Tokai Pharmaceuticals $TKAI has been blasted by the late-stage failure of its lead drug galeterone and forced to jettison more than half of its staff. Yesterday, the company filed an 8-K with the SEC noting that it will also now discontinue enrollment in a separate study for castration-resistant prostate cancer while slamming the brakes on yet another planned study as well.
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