July 28, 2016 (Update) - On July 26, 2016, Tokai Pharmaceuticals Inc announced that it was ending a late-stage trial of galeterone, its potential prostate cancer therapy. Tokai Pharmaceuticals Inc stated that it did not believe the phase 3 study would meet its primary endpoint.Shares of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) declined from $18.39 per share in September 2014 to as low as $1.01 per share on July 28, 2016.

November 10, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) shares over potential securities laws violations by Tokai Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) concerning whether a series of statements by Tokai Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On November 2, 2015, a report was published titled 'What's Wrong With Tokai Pharmaceuticals?', alleging significant issues with the company's trials for galeterone, Tokai's sole product. The report stated, in part, that 'Tokai's attempt at a Phase 3 trial is based on data from just 6 patients out of 87 in Phase 2, based on after-the-fact cherry picking of data'; 'Tokai dramatically changed its trial design between Phase 2 and Phase 3 and the FDA has already warned Tokai about problems with its trial design'; and '[i]nsider trading has been rampant ahead of preliminary data in 2016.'

Shares of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) declined to as low as $9.38 per share on November 2, 2015.