SB-715992 in Treating Patients With Metastatic Prostate Cancer That Did Not Respond to Docetaxel or Paclitaxel

Inclusion Criteria: * Histologically confirmed adenocarcinoma of the prostate * Metastatic disease (N1 and/or M1) * Unresponsive or refractory to androgen-deprivation therapy * Must have received one, and only one, prior taxane-containing (docetaxel or paclitaxel) chemotherapy regimen for metastatic disease that was discontinued due to disease progression, intolerance, or patient request * Evidence of disease progression as defined by ≥ 1 of the following: * Progression of measurable disease * Progression of evaluable disease * Rising prostate-specific antigen (PSA) * At least 2 consecutive rises in PSA levels, each taken ≥ 7 days apart * PSA ≥ 5 ng/mL * Must have pre-study PSA \> 5 ng/mL * Measurable or evaluable disease * Soft tissue disease that has been irradiated within the past 2 months is not considered measurable disease * Soft tissue disease that has been irradiated ≥ 2 months prior to study entry is considered measurable disease provided the lesion progressed after radiation * Surgical or medical castration required * If luteinizing hormone-releasing hormone (LHRH) agonists (leuprolide or goserelin) or LHRH antagonists (abarelix) were used, then must continue use during study therapy * No prior or concurrent brain metastases (treated or untreated) * If clinical suspicion of brain metastases, must meet the following criteria: * Brain CT scan or MRI negative for metastatic disease within the past 56 days * No new symptoms since radiographic evaluation * Performance status - Zubrod 0-2 * Absolute granulocyte count ≥ 1,500/mm\^3 * Platelet count ≥ 100,000/mm\^3 * Hemoglobin ≥ 9 g/dL * Bilirubin normal * SGOT and SGPT ≤ 2.5 times upper limit of normal (ULN) * Creatinine ≤ 1.5 times ULN * Creatinine clearance ≥ 40 mL/min * No symptomatic congestive heart failure * No unstable angina pectoris * No cardiac arrhythmia * Fertile patients must use effective contraception * No peripheral neuropathy ≥ grade 2 * No prior allergic reaction attributed to compounds of similar chemical or biological composition to SB-715992 * No ongoing or active infection * No psychiatric illness or social situation that would preclude study participation * No other uncontrolled illness * No other malignancy within the past 5 years except adequately treated basal cell or squamous cell skin cancer or adequately treated stage I or II cancer in complete remission * No colony-stimulating factors during the first course of study therapy * No concurrent anticancer biologic therapy * See Disease Characteristics * At least 4 weeks since prior chemotherapy and recovered * See Disease Characteristics * At least 4 weeks since prior flutamide or ketoconazole * At least 6 weeks since prior bicalutamide or nilutamide * No concurrent anticancer hormonal therapy except LHRH agonist or antagonist for patients who have not undergone orchiectomy * See Disease Characteristics * At least 4 weeks since prior radiotherapy and recovered * Prior samarium Sm 153 lexidronam pentasodium allowed * No prior strontium chloride Sr 89 * No prior radiotherapy to ≥ 30% of bone marrow * No concurrent anticancer radiotherapy * See Disease Characteristics * At least 3 weeks since prior surgery and recovered * At least 2 weeks since prior and no concurrent use of any of the following CYP3A4 inhibitors or inducers: * Clarithromycin * Erythromycin * Troleandomycin * Rifampin * Rifabutin * Rifapentine * Itraconazole * Ketoconazole * Fluconazole (dose \> 200 mg/day) * Voriconazole * Nefazodone * Fluvoxamine * Verapamil * Diltiazem * Grapefruit juice * Bitter orange * Phenytoin * Carbamazepine * Phenobarbital * Oxcarbazepine * Hypericum perforatum (St. John's wort) * Modafinil * At least 6 months since prior and no concurrent amiodarone * No other investigational drugs for 4 weeks before, during, and for 2 weeks after study therapy * No other concurrent anticancer cytotoxic therapy * No other concurrent anticancer therapy * No concurrent combination antiretroviral therapy for HIV-positive patients * Concurrent enrollment on SWOG-9205 (central prostate cancer serum repository protocol) allowed