Tokai Pharmaceuticals, a biotech developing small molecule therapies for prostate cancer, raised $97 million in an upsized IPO by offering 6.5 million shares at $15, the high end of the range of $13 to $15. The company originally filed to offer 5.4 million shares. Insiders planned to buy $22.2 million on the offering and Novo planned to buy an additional $20 million on the offering. Tokai Pharmaceuticals plans to list on the NASDAQ under the symbol TKAI. Tokai Pharmaceuticals initially filed confidentially on 5/2/2014. BMO Capital Markets, Stifel and William Blair acted as lead managers on the deal.
