Toronto police have identified a man who was fatally stabbed downtown early Saturday.

James Andrew Smith, 52, of Toronto, is the city's 27th homicide victim of the year.

In a news release, police said they have determined through investigation that Smith had been standing by the main door of 730 Yonge St., near Charles Street West, when he was stabbed by a man.

That man then fled the scene on foot.

"It is undetermined whether or not the suspect and the deceased were known to each other," police said in the release.

Toronto police taped off the scene of the fatal stabbing on Yonge Street near Charles Street West. (Jeremy Cohn/CBC)

Police and paramedics were called to the scene for a medical complaint at about 12:15 a.m. When they arrived, they found Smith outside with life-threatening stab wounds.

Detectives looking at what happened before death

A paramedic performed CPR on Smith as he was loaded into an ambulance. He was taken to hospital through an emergency run and he was pronounced dead there a short time later.

Homicide detectives would like to speak to anyone who had contact with Smith in the hours leading up to his death.

On Saturday, police said they did not know if anything occurred before the stabbing.

Police secured the scene and canvassed the area for witnesses and security camera video.

Nearby, the area was crowded with fans who were celebrating the Raptors' victory in Game 4 of the NBA finals. Cars were driving by and honking their horns to mark the win as police investigated the stabbing.

Homicide detectives would like to speak to anyone who had contact with Smith in the hours leading up to his death. (Jeremy Cohn/CBC)

On Saturday, police said they did not know if the fatal stabbing was connected in any way to the celebrations.

No description, video or images of the suspect have been released. Police have not said whether or not they have recovered a weapon.

Anyone with information is asked to contact police at 416-808-5200, 416-808-7400, or Crime Stoppers anonymously at 416-222-TIPS (8477).