Carboplatin, Everolimus, and Prednisone in Treating Patients With Metastatic Prostate Cancer That Progressed After Docetaxel

DISEASE CHARACTERISTICS:

* Histologically confirmed metastatic adenocarcinoma of the prostate
* Objective disease progression or rising PSA despite androgen deprivation therapy and antiandrogen withdrawal (when applicable)
* Progressed after ≥ 1 prior docetaxel-based chemotherapy regimen for metastatic disease

  * Patients with measurable disease\* must have either rising PSA, increase in size of the lesion(s), or both

    * Patients with rising PSA as the only evidence of disease progression must demonstrate a rising trend with 2 successive elevations ≥ 1 week apart
  * Patients with no measurable disease must have a PSA ≥ 5 ng/mL or new areas of bony metastases on bone scan NOTE: \*There is no minimum PSA requirement for patients with measurable disease
* Documented to be castrate with a testosterone level of ≤ 0.5 ng/mL

  * Leuteinizing hormone-releasing hormone agonist therapy must be continued, if required to maintain castrate levels of testosterone
* No uncontrolled brain or leptomeningeal metastases, including patients who continue to require glucocorticoids for brain or leptomeningeal metastases

PATIENT CHARACTERISTICS:

* Zubrod performance status 0-1
* ANC ≥ 1,500/mm\^3
* Hemoglobin ≥ 9.0 g/dL
* Platelet count ≥ 100,000/mm\^3
* Total bilirubin ≤ 1.5 times upper limit of normal (ULN)
* Calculated creatinine clearance ≥ 50 mL/min OR serum creatinine ≤ 2 mg/dL
* AST and/or ALT ≤ 2.5 times ULN if alkaline phosphatase normal OR alkaline phosphatase ≤ 4 times ULN if AST and/or ALT normal (for patients without documented bone metastases or for patients with liver metastases)
* AST and/or ALT \< 2.5 times ULN, without regard to alkaline phosphatase levels (for patients with documented bone metastases)
* Fasting serum cholesterol ≤ 300 mg/dL OR ≤ 7.75 mmol/L AND fasting triglycerides ≤ 2.5 times ULN (in the case that one or both of these thresholds are exceeded, the patient is eligible only after initiation of appropriate lipid-lowering medication)
* Fertile patients must use effective contraception during and for ≥ 6 months after completion of study treatment
* Willing and able to comply with this study
* Able to ingest oral medication
* No other malignancies except non-melanoma skin cancer or any other adequately treated cancer in complete remission for ≥ 2 years
* No significant traumatic injury within the past 4 weeks
* No active (acute or chronic) or uncontrolled severe infections
* No severe and/or uncontrolled medical conditions or other conditions that could affect study participation, including the following:

  * NYHA class III-IV symptomatic congestive heart failure
  * Unstable angina pectoris, symptomatic congestive heart failure, myocardial infarction within the past 6 months, serious uncontrolled cardiac arrhythmia, or any other clinically significant cardiac disease
  * Severely impaired lung function as defined by spirometry and DLCO that is 50% of the normal predicted value and/or oxygen saturation that is ≤ 88% at rest on room air
  * Uncontrolled diabetes as defined by fasting serum glucose \> 1.5 times ULN
  * Liver disease such as cirrhosis, chronic active hepatitis, or chronic persistent hepatitis
  * Known history of HIV seropositivity, hepatitis B or C
  * Impairment of gastrointestinal (GI) function or GI disease that may significantly alter the absorption of everolimus (e.g., ulcerative disease, uncontrolled nausea, vomiting, diarrhea, malabsorption syndrome, or small bowel resection)
  * Active, bleeding diathesis
* No known hypersensitivity to everolimus or other rapamycins (sirolimus, temsirolimus) or to their excipients
* No history of noncompliance to medical regimens
* No uncontrolled diabetes mellitus

PRIOR CONCURRENT THERAPY:

* See Disease Characteristics
* At least 1 prior docetaxel based regimen for metastatic disease

  * Docetaxel based combination therapy or docetaxel alone considered as 1 regimen
* No more than 2 prior chemotherapy regimens for metastatic disease
* No prior treatment with an mTOR inhibitor (sirolimus, temsirolimus, everolimus)
* At least 6 weeks since prior bicalutamide or nilutamide
* At least 4 weeks since prior flutamide
* More than 4 weeks since prior and no other concurrent investigational drugs
* More than 4 weeks since prior and no other concurrent anticancer therapies (including chemotherapy, radiotherapy, or antibody-based therapy)
* More than 4 weeks since prior and no concurrent major surgery (defined as requiring general anesthesia) and recovered
* More than 1 week since prior and no concurrent immunization with attenuated live vaccines
* No concurrent chronic, systemic treatment with corticosteroids or other immunosuppressive agents

  * Topical or inhaled corticosteroids are allowed
* No concurrent prophylactic growth factors
* Concurrent bisphosphonate therapy allowed