Everolimus in Treating Patients With Newly Diagnosed Localized Prostate Cancer

DISEASE CHARACTERISTICS: * Histologically or cytologically confirmed newly diagnosed, localized adenocarcinoma of the prostate, meeting any of the following criteria: * Clinical stage T2a, T2b, T2c, or T3 disease (any grade or PSA) * Gleason score 7 (4+3 only) or ≥ 8 (any stage or PSA) * Serum PSA ≥ 10 ng/dL (any grade or stage) * Any stage, PSA, or Gleason score AND ≥ 35% chance of biochemical failure at 5 years based on Kattan's nomogram * Recommended for radical prostatectomy * Normal testosterone level * No pure neuroendocrine or small cell prostate cancer * No metastatic disease by CT scan, MRI, bone scan, or X-ray * No clinical evidence of CNS metastases PATIENT CHARACTERISTICS: Inclusion criteria: * ECOG performance status (PS) 0-1 or Karnofsky PS 70-100% * ANC ≥ 1,500/μL * Platelet count ≥ 100,000/μL * Hemoglobin ≥ 8 g/dL * AST and ALT ≤ 1.5 times upper limit of normal (ULN) * Bilirubin ≤ 1.5 times ULN * Creatinine ≤ 1.5 times ULN * PT/PTT normal (no anticoagulants) * No active unresolved infection * No known HIV positivity * Fertile patients must use effective contraception during and for 6 months after completion of study therapy Exclusion criteria: * Known hypersensitivity to everolimus or other rapamycins (e.g., sirolimus or temsirolimus) or to its excipients * Gastrointestinal (GI) disease, condition, or symptoms that may significantly impair GI function and alter the absorption of everolimus, including any of the following: * Ulcerative disease * Uncontrolled nausea * Vomiting * Diarrhea * Malabsorption syndrome * Other active malignancy or malignancy at ≥ 30% risk for relapse after completion of therapy, except nonmelanoma skin cancer * Uncontrolled concurrent illness including, but not limited to, any of the following: * Ongoing or active infection (e.g., bacterial, viral or fungal) * Severely impaired lung function * Uncontrolled diabetes (fasting serum glucose \> 1.5 times ULN) * Liver disease (e.g., cirrhosis, chronic active hepatitis, or chronic persistent hepatitis) * Symptomatic congestive heart failure * Unstable angina pectoris * Cardiac arrhythmia * Psychiatric illness or social situation that would limit study compliance * Any underlying medical condition which, in the principal investigator's opinion, will make the administration of everolimus hazardous OR obscure the interpretation of adverse events PRIOR CONCURRENT THERAPY: * More than 4 weeks since major surgery * More than 3 months since finasteride * No prior or concurrent radiotherapy to the prostate gland or pelvis * No prior hormones (e.g., luteinizing hormone-releasing hormone \[LHRH\] agonists, LHRH antagonists, or antiandrogens \[e.g., bicalutamide, flutamide, or nilutamide\]) and/or PC-SPES (or PC-x product) or estrogen-containing nutraceuticals * No prior rapamycin mTOR inhibitor * No prior small bowel resection that may significantly impair GI function and alter the absorption of everolimus * No prior or concurrent immunotherapy, chemotherapy, or other investigational therapy for prostate cancer * No other concurrent investigational or commercial agents * No other concurrent anticancer agents * No concurrent, chronic treatment with systemic steroids (except inhaled or topical steroids) or another immunosuppressive agent * No concurrent live vaccines * No concurrent strong inhibitors or inducers of the isoenzyme CYP3A administered as systemic therapy