the offering was made pursuant to the company 's registration statement on form s-3 ( registration no . 333-211489 ) , which was declared effective by the u.s. securities and exchange commission on august 16 , 2017 , a base prospectus dated august 16 , 2017 and a prospectus supplement dated march 1 , 2018. critical accounting policies and recent accounting pronouncements while our significant accounting policies are more fully described in note 2 to the consolidated financial statements appearing elsewhere in this form 10-k , we believe the following accounting policies are critical to the preparation of our financial statements . 69 research and development expenses research and development costs are expensed as incurred and are primarily comprised of , but not limited to , external research and development expenses incurred under arrangements with third parties , such as contract research organizations (  cros  ) , contract manufacturing organizations (  cmos  ) and consultants that conduct clinical and preclinical studies , costs associated with preclinical and development activities , costs associated with regulatory operations , depreciation expense for assets used in research and development activities and employee related expenses , including salaries and benefits for research and development personnel . costs for certain development activities , such as clinical studies , are accrued , over the service period specified in the contract and recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment , clinical site activations or information provided to us by our vendors on their actual costs incurred . payments for these activities are based on the terms of the individual arrangements , which may differ from the patterns of costs incurred , and are reflected in the consolidated financial statements as prepaid or accrued expense . income taxes our income tax expense , deferred tax assets and liabilities , and liabilities for unrecognized tax benefits reflect management 's best estimate of current and future taxes to be paid . we are subject to federal income taxes in the united states , as well as in various u.s. state jurisdictions . significant judgments and estimates are required in the determination of the income tax expense . deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements , which will result in taxable or deductible amounts in the future . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date . the assumptions about future taxable income require the use of significant judgment and are consistent with the plans and estimates we are using to manage the underlying businesses . in evaluating the objective evidence that historical results provide , we consider three years of cumulative operating income ( loss ) . a valuation allowance is provided when , after consideration of available positive and negative evidence , that it is not more likely than not that the benefit from deferred tax assets will be realizable . in recognition of this risk , we have provided a full valuation allowance against the net deferred tax assets . the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in various jurisdictions . asc 740 income taxes states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination , including resolutions of any related appeals or litigation processes , on the basis of the technical merits . we had unrecognized tax benefits of $ 469,000 and $ 617,000 at march 31 , 2018 and 2017 , respectively . increases or decreases would not have an effect on the effective tax rate . the company files federal income tax returns in the united states , as well as various u.s. state jurisdictions . the federal and state income tax returns are generally subject to tax examinations for the period april 1 , 2016 through march 31 , 2017 , january 1 , 2016 through march 31 , 2016 , the years ended december 31 , 2015 and 2014. to the extent the company has tax attribute carryforwards , the tax years in which the attribute was generated may still be adjusted upon examination by the internal revenue service or state tax authorities to the extent utilized in a future period . in addition , we had no income tax related penalties or interest for periods presented in these consolidated financial statements . when and if we were to recognize interest and penalties related to unrecognized tax benefits , they would be reported in tax expense . on december 22 , 2017 , h.r . 1 ( also , known as the tax cuts and jobs act ( the  act  ) ) was signed into law . among its numerous changes to the internal revenue code , the act reduces the u.s. federal corporate tax rate from 35 % to 21 % . as a result , the most significant impact on the financial statements is a reduction of approximately $ 3.2 million for the deferred tax assets related to net operating losses and stock based compensation . such reduction is offset by changes to the company 's valuation allowance . 70 stock-based compensation we follow the authoritative guidance for accounting for stock-based compensation in asc 718 , compensation-stock compensation. the guidance requires that stock-based payment transactions be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over the vesting period as services are being provided . story_separator_special_tag research and development activities primarily consist of the following : salary expense for research and development personnel was $ 212,193 for the three months ended march 31 , 2016 , compared to $ 307,058 for the three months ended march 31 , 2015 , a decrease of $ 94,865 between the comparable periods . the decrease is due to the fact that during the three months ended march 31 , 2015 , research and development personnel were awarded bonus compensation totaling $ 135,560 in connection with the merger . this decrease is offset by a new hire during the three months ended march 31 , 2016. consulting and study expenses were $ 456,551 for the three months ended march 31 , 2016 , compared to $ 152,259 for the three months ended march 31 , 2015 , representing an increase of $ 304,292 between the comparable periods . these types of expenses are anticipated to vary between future accounting periods as we continue to develop our oncology drug candidates and seek governmental approval of such drug candidates . 75 for the three months ended march 31 , 2016 we incurred compensation expense of $ 100,000 related to the scientific advisory board that was established as of september 30 , 2015 compared to $ 0 for the three months ended march 31 , 2015. general and administrative expenses were $ 1,942,655 for the three months ended march 31 , 2016 , compared to $ 1,583,820 for the three months ended march 31 , 2015 , representing an increase of $ 358,835 , with this increase principally attributed to the recognition of non-cash compensation expense related to stock options of $ 1,137,435 for the three months ended march 31 , 2016. for the three months ended march 31 , 2015 , we had no compensation expense related to stock options . the general and administrative expenses for the respective periods include : transaction costs associated with the merger , which totaled approximately $ 1,000,000 for the three months ended march 31 , 2015 and relate to professional fees incurred in respect of legal , investor relations and accounting and auditing of tyme 's financial statements . there were no such transaction costs incurred in the three months ended march 31 , 2016. salary expense for non-research and development personnel was $ 243,572 for the three months ended march 31 , 2016 , compared to $ 395,356 for the three months ended march 31 , 2015 , representing a $ 151,784 decrease between the comparable periods . the decrease is due to the fact that during the three months ended march 31 , 2015 , non-research and development personnel were awarded bonus compensation totaling $ 206,690 in connection with the merger . this decrease is offset by a new full time hire during the three months ended march 31 , 2016. stock based compensation expense related to stock options granted was $ 1,137,435 for the three months ended march 31 , 2016 compared to $ 0 for the three months ended march 31 , 2015. no stock options were granted during or prior to the three months ended march 31 , 2015. in addition , in the three months ended march 31 , 2016 , we incurred costs of $ 353,362 for legal and accounting fees . liquidity and capital resources liquidity and capital requirements outlook during fiscal year 2018 , we raised gross proceeds of approximately $ 32.1 million through the issuance of our common stock . most recently in march 2018 , we raised aggregate gross proceeds of $ 23.3 million before underwriting discounts and commissions and expenses of the offering through an underwritten public offering . previously , on november 2 , 2017 , the company entered into the equity distribution agreement with canaccord , to commence the atm financing facility pursuant to which the company may , from time to time , subject to certain rules and regulations , sell shares of the company 's common stock , par value $ 0.0001 per share , having an aggregate offering price up to $ 30.0 million , through canaccord , as the company 's sales agent . in the year ended march 31 , 2018 , the company raised approximately $ 6.2 million in aggregate gross proceeds before commissions and expenses through the atm financing facility and incurred related costs , including commission to canaccord , of approximately $ 0.3 million . at march 31 , 2018 , there remained approximately $ 24.0 million of availability to sell shares through the facility . additionally , in april 2017 , we raised $ 2.7 million in gross proceeds through a private placement transaction . the proceeds of those offerings are being used by the company for continued clinical studies and development activities and other general corporate and operating expenses . we anticipate requiring additional capital to further fund the development of our product candidates , as well as to engage in potential partnerships or collaborations . the most significant funding needs continue to be in connection with conducting immediate phase ii clinical trials of our sm-88 drug candidate for prostate cancer and pancreatic cancer and additional or related studies and investigations . 76 additionally , following a review of the company 's employee and director compensation program performed in conjunction with an independent third-party compensation consultant , in may 2018 , our board of directors approved certain changes to these compensation programs , which are designed to address the company 's unique business attributes and to promote the company 's goals of attracting and retaining talent , aligning of the interests of executives with stockholders , and avoiding excessive risk taking . after consultation with the compensation consultant , the board approved employee cash bonuses for the completed 2018 fiscal year in an aggregate total amount of approximately $ 1.2 million , which amount is expected to be paid by the company during june 2018. the company 's board also approved

cash flows net cash used in or provided by operating , investing and financing activities from continuing operations were as follows : replace_table_token_7_th operating activities our cash used in operating activities in the year ended march 31 , 2018 totaled $ 11,879,260 which is the sum of ( i ) our net loss of $ 18,969,493 , adjusted for non-cash expenses totaling $ 7,303,245 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 213,012. as noted above , we expect these amounts to increase in fiscal year 2019. our cash used in operating activities in the year ended march 31 , 2017 totaled $ 5,861,127 which is the sum of ( i ) our net loss of $ 15,206,781 , adjusted for non-cash expenses totaling $ 8,076,368 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 1,269,286. our cash used in operating activities in the three months ended march 31 , 2016 totaled $ 1,373,257 which is the sum of ( i ) our net loss of $ 2,751,127 , adjusted for non-cash expenses totaling $ 1,138,497 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 239,373. our cash used in operating activities in the year ended december 31 , 2015 totaled $ 6,610,156 which is the sum of ( i ) our net loss of $ 11,726,818 , adjusted for non-cash expenses totaling $ 4,728,851 ( which


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows net cash used in or provided by operating , investing and financing activities from continuing operations were as follows : replace_table_token_7_th operating activities our cash used in operating activities in the year ended march 31 , 2018 totaled $ 11,879,260 which is the sum of ( i ) our net loss of $ 18,969,493 , adjusted for non-cash expenses totaling $ 7,303,245 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 213,012. as noted above , we expect these amounts to increase in fiscal year 2019. our cash used in operating activities in the year ended march 31 , 2017 totaled $ 5,861,127 which is the sum of ( i ) our net loss of $ 15,206,781 , adjusted for non-cash expenses totaling $ 8,076,368 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 1,269,286. our cash used in operating activities in the three months ended march 31 , 2016 totaled $ 1,373,257 which is the sum of ( i ) our net loss of $ 2,751,127 , adjusted for non-cash expenses totaling $ 1,138,497 ( which includes adjustments for equity-based compensation , depreciation and amortization and the issuance of common stock for services ) , and ( ii ) changes in operating assets and liabilities of $ 239,373. our cash used in operating activities in the year ended december 31 , 2015 totaled $ 6,610,156 which is the sum of ( i ) our net loss of $ 11,726,818 , adjusted for non-cash expenses totaling $ 4,728,851 ( which
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 Suspicious Activity Report : the offering was made pursuant to the company 's registration statement on form s-3 ( registration no . 333-211489 ) , which was declared effective by the u.s. securities and exchange commission on august 16 , 2017 , a base prospectus dated august 16 , 2017 and a prospectus supplement dated march 1 , 2018. critical accounting policies and recent accounting pronouncements while our significant accounting policies are more fully described in note 2 to the consolidated financial statements appearing elsewhere in this form 10-k , we believe the following accounting policies are critical to the preparation of our financial statements . 69 research and development expenses research and development costs are expensed as incurred and are primarily comprised of , but not limited to , external research and development expenses incurred under arrangements with third parties , such as contract research organizations (  cros  ) , contract manufacturing organizations (  cmos  ) and consultants that conduct clinical and preclinical studies , costs associated with preclinical and development activities , costs associated with regulatory operations , depreciation expense for assets used in research and development activities and employee related expenses , including salaries and benefits for research and development personnel . costs for certain development activities , such as clinical studies , are accrued , over the service period specified in the contract and recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment , clinical site activations or information provided to us by our vendors on their actual costs incurred . payments for these activities are based on the terms of the individual arrangements , which may differ from the patterns of costs incurred , and are reflected in the consolidated financial statements as prepaid or accrued expense . income taxes our income tax expense , deferred tax assets and liabilities , and liabilities for unrecognized tax benefits reflect management 's best estimate of current and future taxes to be paid . we are subject to federal income taxes in the united states , as well as in various u.s. state jurisdictions . significant judgments and estimates are required in the determination of the income tax expense . deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements , which will result in taxable or deductible amounts in the future . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date . the assumptions about future taxable income require the use of significant judgment and are consistent with the plans and estimates we are using to manage the underlying businesses . in evaluating the objective evidence that historical results provide , we consider three years of cumulative operating income ( loss ) . a valuation allowance is provided when , after consideration of available positive and negative evidence , that it is not more likely than not that the benefit from deferred tax assets will be realizable . in recognition of this risk , we have provided a full valuation allowance against the net deferred tax assets . the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in various jurisdictions . asc 740 income taxes states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination , including resolutions of any related appeals or litigation processes , on the basis of the technical merits . we had unrecognized tax benefits of $ 469,000 and $ 617,000 at march 31 , 2018 and 2017 , respectively . increases or decreases would not have an effect on the effective tax rate . the company files federal income tax returns in the united states , as well as various u.s. state jurisdictions . the federal and state income tax returns are generally subject to tax examinations for the period april 1 , 2016 through march 31 , 2017 , january 1 , 2016 through march 31 , 2016 , the years ended december 31 , 2015 and 2014. to the extent the company has tax attribute carryforwards , the tax years in which the attribute was generated may still be adjusted upon examination by the internal revenue service or state tax authorities to the extent utilized in a future period . in addition , we had no income tax related penalties or interest for periods presented in these consolidated financial statements . when and if we were to recognize interest and penalties related to unrecognized tax benefits , they would be reported in tax expense . on december 22 , 2017 , h.r . 1 ( also , known as the tax cuts and jobs act ( the  act  ) ) was signed into law . among its numerous changes to the internal revenue code , the act reduces the u.s. federal corporate tax rate from 35 % to 21 % . as a result , the most significant impact on the financial statements is a reduction of approximately $ 3.2 million for the deferred tax assets related to net operating losses and stock based compensation . such reduction is offset by changes to the company 's valuation allowance . 70 stock-based compensation we follow the authoritative guidance for accounting for stock-based compensation in asc 718 , compensation-stock compensation. the guidance requires that stock-based payment transactions be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over the vesting period as services are being provided . story_separator_special_tag research and development activities primarily consist of the following : salary expense for research and development personnel was $ 212,193 for the three months ended march 31 , 2016 , compared to $ 307,058 for the three months ended march 31 , 2015 , a decrease of $ 94,865 between the comparable periods . the decrease is due to the fact that during the three months ended march 31 , 2015 , research and development personnel were awarded bonus compensation totaling $ 135,560 in connection with the merger . this decrease is offset by a new hire during the three months ended march 31 , 2016. consulting and study expenses were $ 456,551 for the three months ended march 31 , 2016 , compared to $ 152,259 for the three months ended march 31 , 2015 , representing an increase of $ 304,292 between the comparable periods . these types of expenses are anticipated to vary between future accounting periods as we continue to develop our oncology drug candidates and seek governmental approval of such drug candidates . 75 for the three months ended march 31 , 2016 we incurred compensation expense of $ 100,000 related to the scientific advisory board that was established as of september 30 , 2015 compared to $ 0 for the three months ended march 31 , 2015. general and administrative expenses were $ 1,942,655 for the three months ended march 31 , 2016 , compared to $ 1,583,820 for the three months ended march 31 , 2015 , representing an increase of $ 358,835 , with this increase principally attributed to the recognition of non-cash compensation expense related to stock options of $ 1,137,435 for the three months ended march 31 , 2016. for the three months ended march 31 , 2015 , we had no compensation expense related to stock options . the general and administrative expenses for the respective periods include : transaction costs associated with the merger , which totaled approximately $ 1,000,000 for the three months ended march 31 , 2015 and relate to professional fees incurred in respect of legal , investor relations and accounting and auditing of tyme 's financial statements . there were no such transaction costs incurred in the three months ended march 31 , 2016. salary expense for non-research and development personnel was $ 243,572 for the three months ended march 31 , 2016 , compared to $ 395,356 for the three months ended march 31 , 2015 , representing a $ 151,784 decrease between the comparable periods . the decrease is due to the fact that during the three months ended march 31 , 2015 , non-research and development personnel were awarded bonus compensation totaling $ 206,690 in connection with the merger . this decrease is offset by a new full time hire during the three months ended march 31 , 2016. stock based compensation expense related to stock options granted was $ 1,137,435 for the three months ended march 31 , 2016 compared to $ 0 for the three months ended march 31 , 2015. no stock options were granted during or prior to the three months ended march 31 , 2015. in addition , in the three months ended march 31 , 2016 , we incurred costs of $ 353,362 for legal and accounting fees . liquidity and capital resources liquidity and capital requirements outlook during fiscal year 2018 , we raised gross proceeds of approximately $ 32.1 million through the issuance of our common stock . most recently in march 2018 , we raised aggregate gross proceeds of $ 23.3 million before underwriting discounts and commissions and expenses of the offering through an underwritten public offering . previously , on november 2 , 2017 , the company entered into the equity distribution agreement with canaccord , to commence the atm financing facility pursuant to which the company may , from time to time , subject to certain rules and regulations , sell shares of the company 's common stock , par value $ 0.0001 per share , having an aggregate offering price up to $ 30.0 million , through canaccord , as the company 's sales agent . in the year ended march 31 , 2018 , the company raised approximately $ 6.2 million in aggregate gross proceeds before commissions and expenses through the atm financing facility and incurred related costs , including commission to canaccord , of approximately $ 0.3 million . at march 31 , 2018 , there remained approximately $ 24.0 million of availability to sell shares through the facility . additionally , in april 2017 , we raised $ 2.7 million in gross proceeds through a private placement transaction . the proceeds of those offerings are being used by the company for continued clinical studies and development activities and other general corporate and operating expenses . we anticipate requiring additional capital to further fund the development of our product candidates , as well as to engage in potential partnerships or collaborations . the most significant funding needs continue to be in connection with conducting immediate phase ii clinical trials of our sm-88 drug candidate for prostate cancer and pancreatic cancer and additional or related studies and investigations . 76 additionally , following a review of the company 's employee and director compensation program performed in conjunction with an independent third-party compensation consultant , in may 2018 , our board of directors approved certain changes to these compensation programs , which are designed to address the company 's unique business attributes and to promote the company 's goals of attracting and retaining talent , aligning of the interests of executives with stockholders , and avoiding excessive risk taking . after consultation with the compensation consultant , the board approved employee cash bonuses for the completed 2018 fiscal year in an aggregate total amount of approximately $ 1.2 million , which amount is expected to be paid by the company during june 2018. the company 's board also approved

