Tokai Pharmaceuticals, Inc. (TKAI) saw its loss narrow to $11.43 million, or $0.51 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $13.26 million, or $0.59 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $11.48 million, compared with an operating loss of $13.30 million in the previous year period.
"Over the past quarter we have made significant progress in our clinical development program for galeterone, as we continued to accelerate screening and enrollment in our ARMOR3-SV trial and expanded our Phase 2 trial to include additional mCRPC patients who have acquired resistance to enzalutamide," said Jodie Morrison, president and chief executive officer of Tokai. "We have also strengthened our development team to sharpen focus on execution of our clinical trials, and we look forward to continued progress in the months ahead as we work with great urgency to meet the needs of patients who currently have limited therapeutic options."
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