Inclusion Criteria:

- Age minimum: 18 years old

- Histological confirmation of prostatic adenocarcinoma

- PSA > or = to 2 ng/ml

- PSA progression (serially rises on two occasions each at least one week apart) OR
disease progression on imaging studies (CT scan or bone scan).

- Minimally symptomatic - no symptoms attributed to prostate cancer greater than Grade
I based on NCI CTCAE Version 4.0 grading of toxicities

- Discontinuation of all antiandrogen, ketoconazole and investigational drugs for at
least 4 weeks (6 weeks for bicalutamide) prior to study initiation

- Maintain castrate levels of testosterone (<50ng/dL)

- Karnofsky Performance Status > or = to 60%

- Life expectancy > 3 months

- Adequate hematologic, renal, and liver function

Exclusion Criteria:

- Currently active second malignancy other than non-melanoma skin cancers.

- Clinically significant cardiovascular disease: EF < 30%, NHYA Class III or greater
congestive heart failure, myocardial infarction/unstable angina within 6 months prior
to study enrollment, or significant ECG abnormalities such as QRS/QT prolongation
(see Section 5.3).

- Progressive pulmonary disease, such as advanced COPD, pulmonary fibrosis, or
supplemental O2 requirement.

- Known CNS disease, except for treated brain metastases.

- Poorly controlled diabetes mellitus (HbA1c > 7 %) or fasting blood glucose level >126
mg/dL in non-diabetic patients or > 189 mg/dL in diabetic patients (can be enrolled
after initiation or titration of anti-diabetic agent(s)).

- Poorly controlled hypercholesterolemia (fasting serum cholesterol >300 mg/dL) or
hypertriglyceridemia (> 2.5 x ULN). Patients above either threshold can be included
after initiation of appropriate lipid lowering medication.

- Current use of chronic steroids (equivalent of 20mg prednisone daily). Inhaled
steroids are acceptable.

- Active gallbladder disease or hepatitis (AST or ALT > 2.0, or bilirubin > 1.5x ULN),
liver cirrhosis, or severe liver impairment (Child-Pugh class C). It is highly
recommended that patients positive for HBV-DNA or HBsAg are treated prophylactically
with an antiviral for 1-2 weeks prior to receiving study drug.

- Serum creatinine >1.5 upper limit of normal or on dialysis.

- Prior use of a somatostatin analog or mTOR inhibitor for the treatment of PC.