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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