Tokai Pharma (TKAI) Plans to Review Strategic Options

September 8, 2016 8:01 AM EDT

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Tokai Pharmaceuticals Inc. (Nasdaq: TKAI) announced that its Board of Directors has initiated a review of strategic alternatives for the company focused on maximizing stockholder value.

Potential strategic alternatives that may be explored or evaluated as part of this review include a sale of the company, a reverse merger, a business combination or a sale, license or other disposition of corporate assets of the company. There is no set timetable for this process and there can be no assurance that this process will result in any such transaction. In conjunction with this process, the company is continuing to assess the best path forward for its galeterone clinical trial program. The company now anticipates all patients enrolled in the ARMOR3-SV clinical trial will discontinue treatment by the end of the year.

As part of its review of strategic alternatives, Tokai has engaged Wedbush PacGrow as its financial advisor.

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