Tokai Pharmaceuticals Inc (TKAI) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 26, 2016.
Tokai Pharmaceuticals Inc opened for trading at $5.17 and hit $5.4 on the upside on Wednesday, eventually ending the session at $5.33, with a gain of 5.13% or 0.26 points. The heightened volatility saw the trading volume jump to 38,723 shares. Company has a market cap of $121 M.
In a different news, on Sep 22, 2015, John S. Mcbride (Chief Operating Officer) sold 13,500 shares at $14.01 per share price. According to the SEC, on Sep 8, 2015, Lee Kalowski (Chief Financial Officer) sold 4,668 shares at $13.13 per share price. On Jul 30, 2015, Jodie Pope Morrison (President and CEO) sold 12,564 shares at $13.70 per share price, according to the Form-4 filing with the securities and exchange commission.
Tokai Pharmaceuticals Inc. is a clinical stage biopharmaceutical company. The Company is focused on developing therapies for the treatment of prostate cancer and other hormonally-driven diseases. The Company’s lead drug candidate galeterone is a multi-targeted oral small molecule drug candidate that has advantages over existing prostate cancer therapies. The Company is focusing its initial development of galeterone on the treatment of patients with castration resistant prostate cancer (CRPC) whose prostate tumor cells express an altered androgen receptor that is truncated. Galeterone acts by disrupting the androgen receptor signaling pathway which is the primary pathway that drives prostate cancer growth. The Company is conducting a Phase II clinical trial of galeterone known as ARMOR2 trial for the treatment of multiple CRPC populations.