Tokai Pharmaceuticals Inc (NASDAQ:TKAI), a biopharmaceutical company focused on developing and commercializing innovative therapies for prostate cancer and other hormonally driven diseases, today announced an oral presentation on galeterone at the 2016 American Urological Association (AUA) Annual Meeting in San Diego. Galeterone, Tokai’s lead product candidate, is being developed for the treatment of men with metastatic castration-resistant prostate cancer.
The presentation, titled “Galeterone shows anti-tumor activity in multiple pre-clinical models that express androgen receptor splice variants, supporting correlative patient data seen in ARMOR2” (abstract number PD32-07), will be presented on Sunday, May 8, from 4:30 – 4:40 p.m. PDT in room 30DE, as part of the session, “Prostate Cancer: Advanced (including Drug Therapy) III.” The presenting author is Vincent C.O. Njar, Ph.D., Professor of Medicinal Chemistry and Pharmacology, Department of Pharmacology; Head of the Medicinal Chemistry Section, Center for Biomolecular Therapeutics; and Member of the Marlene andStewart Greenebaum Cancer Center at the University of Maryland School of Medicine,Baltimore. Dr. Njar is a co-inventor of galeterone. (Original Source)
Shares of Tokai closed yesterday at $7.85, up $0.56 or 7.68%. TKAI has a 1-year high of $14.71 and a 1-year low of $4.93. The stock’s 50-day moving average is $6.47 and its 200-day moving average is $8.19.
On the ratings front, Tokai has been the subject of a number of recent research reports. In a report issued on April 11, BMO analyst Do Kim initiated coverage with a Buy rating on TKAI and a price target of $11, which represents a potential upside of 40.1% from where the stock is currently trading. Separately, on April 6, Janney Montgomery Scott’s Roy Buchanan initiated coverage with a Buy rating on the stock and has a price target of $12.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Do Kim and Roy Buchanan have a total average return of -17.8% and -7.3% respectively. Kim has a success rate of 33.3% and is ranked #3408 out of 3829 analysts, while Buchanan has a success rate of 46.7% and is ranked #3238.
Tokai Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which focuses on developing novel proprietary therapies for the treatment of prostate cancer and other hormonally driven diseases. The company was founded by Joseph A. Yanchik and Seth L. Harrison on March 26, 2004 and is headquartered in Boston, MA.