Tokai Pharma views option, including sale of the firm

8 September 2016

USA-based biotech firm Tokai Pharmaceuticals (Nasdaq: TKAI) today 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.

Tokai’s shares moved 7.8% higher to $1.1 on the back of the news, giving the firm a market capitalization of around $25 million.

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