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 that it has strengthened its development team with the addition of Kelly A. Lindert, M.D., as Executive Vice President and Head of Development.
“Kelly is joining Tokai’s senior leadership team at an important time for the company,” saidJodie P. Morrison, President and Chief Executive Officer of Tokai. “With substantial expertise in clinical development and a background in urology, we expect that she will help us execute on our ambitious clinical development goals for 2016, including driving completion of patient enrollment in our pivotal ARMOR3-SV clinical trial and expanding the galeterone clinical development portfolio. With Kelly responsible for execution of our overall development program, Karen Ferrante can now devote more attention to overseeing Tokai’s strategic development activities in her capacity as Chief Medical Officer.”
Dr. Lindert will be responsible for Tokai’s clinical development, medical affairs, pharmacovigilance, regulatory affairs and quality assurance activities. She joins the company from Novartis Vaccines and Diagnostics, where she worked for nearly eight years in roles of increasing responsibility, most recently as the Global Head of Development for the company’s influenza vaccines program. At Novartis, she was responsible for executing rapid and efficient clinical development programs and for the regulatory filings and approvals of several products. Before her time at Novartis, Dr. Lindert was engaged in the phase 1 through 4 clinical development of products in the fields of urology, nephrology, endocrinology and infectious disease at Altus Pharmaceuticals, Acambis (since acquired by Sanofi), Anesiva (formerly Corgentech Inc.) and ALZA Corporation (since acquired by Johnson & Johnson). She holds a Bachelor’s degree from Vassar College and an M.D. from the University of Chicago, each with honors, and she trained in urology at the Stanford University Hospitals.
“I’m looking forward to joining the Tokai team as we execute on our development goals,” said Dr. Lindert. “With more than 100 clinical trial sites open and actively screening patients for ARMOR3-SV, we are working diligently to complete enrollment in the study by year end, as well as to initiate two additional clinical studies of galeterone in the first half of 2016. We are also focused on raising awareness of the unmet needs of metastatic castration-resistant prostate cancer patients who are AR-V7-positive, and on engaging with the global oncology and urology communities about the potential role that galeterone may play.” (Original Source)
Shares of Tokai closed last Friday at $5.88, up $0.42 or 7.69%. 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 $6.21 and its 200-day moving average is $9.21.
On the ratings front, Oppenheimer analyst Ling Wang assigned a Buy rating on TKAI, in a report issued on February 11. According to TipRanks.com, Wang has a total average return of -26.4%, a 11.0% success rate, and is ranked #3754 out of 3760 analysts.
Tokai Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing novel proprietary therapies for the treatment of prostate cancer and other hormonally-driven diseases.