we retain commercialization or co-commercialization rights in the united states under two of these collaborations . the clinical development plan for each of our therapeutic product candidates is directed towards patients with a particular genetically defined cancer . for many of our therapeutic product candidates , we plan to develop a companion diagnostic for the identification of patients with the genetically defined cancers that we seek to treat with our therapeutic product candidates . we plan to include patients with the particular genetically defined cancer in our clinical trials beginning in phase 1 with a view to assessing possible early evidence of potential therapeutic effect . as we are tailoring our personalized therapeutics for discrete patient populations with genetically defined cancers , we believe that many of our products may qualify for orphan drug designation in the united states , the european union and other regions . in addition to the therapeutic programs listed above , we are working with gsk on the development of three specified hmt inhibitors that are in preclinical development and for which gsk holds commercial rights . we also have active drug discovery programs for other hmts that we have prioritized . we design , manage and evaluate the results of all of our research and development plans centrally and have engaged a multinational network of clinical research organizations , or cros , to execute on specific phases of our research and development programs . by employing this network of cros , we seek to manage multiple development programs while maintaining flexibility in our cost structure . we commenced active operations in early 2008 , and our operations to date have been limited to organizing and staffing our company , business planning , raising capital , developing our technology , identifying potential product candidates , undertaking preclinical studies and , beginning in 2012 , conducting clinical trials . to date , we have financed our operations primarily through our initial public offering , private placements of our preferred stock and funding received from collaboration and license agreements . all of our revenue to date has been collaboration revenue . since our inception and through december 31 , 2013 , we have raised an aggregate of $ 294.0 million to fund our operations , of which $ 135.5 million was non-equity funding through our collaboration agreements , $ 82.5 million was from our initial public offering and $ 76.0 million was from the sale of preferred stock . in addition , as of december 31 , 2013 , we were entitled to receive $ 33.7 million for milestone payments earned , research and development services revenue earned and global development co-funding . in february 2014 , we completed an offering of 3,673,901 shares of our common stock , at a price of $ 29.25 per share . we received net proceeds before expenses from this offering of $ 101.3 million after deducting underwriting discounts and commissions paid by us . since inception , we have incurred significant operating losses . our net loss was $ 3.5 million for the year ended december 31 , 2013. as of december 31 , 2013 , we had an accumulated deficit of $ 56.1 million . we expect to continue to incur significant expenses and operating losses over the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . we anticipate that our expenses will increase substantially as we continue our phase 1 clinical trial of epz-5676 in mll-r and mll-ptd adult patients ; initiate our planned phase 1b clinical trial of epz-5676 in pediatric patients with mll-r ; continue our phase 1/2 clinical trial of epz-6438 , subject to our opt-in right ; initiate our planned phase 2 clinical trial of epz-6438 in patients with synovial sarcoma , subject to our opt-in right ; continue the research and development of our other product candidates ; seek to discover and develop additional product candidates ; seek regulatory approvals for our product candidates that successfully complete clinical trials ; establish a sales , marketing and distribution infrastructure and scale up external manufacturing capabilities to commercialize any products for which we may obtain regulatory approval ; maintain , expand and protect our intellectual property portfolio ; hire additional clinical , quality control and scientific personnel ; and add operational , financial and management information systems and personnel , including personnel to support our product development and planned future commercialization efforts . 78 collaborations the key terms of our primary collaborations are as follows : celgene in april 2012 , we entered into a collaboration and license agreement with celgene to discover , develop and commercialize , in all countries other than the united states , small molecule hmt inhibitors targeting dot1l , including epz-5676 , and any other hmt targets from our product platform for patients with genetically defined cancers , excluding targets covered by our two other existing therapeutic collaborations , which we refer to as the available targets . agreement structure under the terms of the agreement , we received a $ 65.0 million upfront payment and $ 25.0 million from the sale of our series c preferred stock to an affiliate of celgene , of which $ 3.0 million was considered a premium and included as collaboration arrangement consideration for a total upfront payment of $ 68.0 million . in addition , we earned a $ 25.0 million clinical development milestone payment and recorded $ 1.9 million of global development co-funding during the year ended december 31 , 2013. we are also eligible to earn up to $ 35.0 million in additional clinical development milestone payments and up to $ 100.0 million in regulatory milestone payments related to dot1l as well as up to $ 65.0 million in payments , including a combination of clinical development milestone payments and an option exercise fee , and up to $ 100.0 million in regulatory milestone payments for each available target as to story_separator_special_tag our internal research and 83 development expenses increased by $ 3.9 million in 2013 as compared to 2012 and by $ 6.1 million in 2012 as compared to 2011 as the number of our research and development employees grew from 33 employees as of december 31 , 2011 to 47 employees as of december 31 , 2012 and to 56 employees as of december 31 , 2013. during the year ended december 31 , 2013 , external research and development expenses for epz-5676 and related dot1l programs focused on the advancement of the epz-5676 phase 1 clinical trial , with expenses increasing to $ 13.3 million . during the years ended december 31 , 2012 and 2011 , external research and development spending for epz-5676 and related dot1l programs focused on the advancement of epz-5676 , with expenses increasing from $ 5.8 million for the year ended december 31 , 2011 to $ 8.0 million for the year ended december 31 , 2012 , principally due to spending on preclinical studies . during the year ended december 31 , 2013 , external research and development expenses for epz-6438 and related ezh2 programs focused on the epz-6438 phase 1/2 clinical trial with expenses of $ 3.9 million . during the years ended december 31 , 2012 and 2011 , external research and development spending for epz-6438 and related ezh2 programs focused on progressing our epz-6438 product candidate into preclinical phases , with expenses decreasing slightly , from $ 3.8 million in 2011 to $ 3.5 million in 2012 , as some phases of development shifted to eisai . external research and development spending for discovery and preclinical stage product programs , including the three target programs partnered with gsk , increased from $ 5.3 million for the year ended december 31 , 2011 to $ 12.9 million for the year ended december 31 , 2012 and $ 22.4 million for the year ended december 31 , 2013 as we advanced the research and development of these programs . external research and development spending from january 1 , 2010 through december 31 , 2013 was $ 32.5 million for epz-5676 and related dot1l programs and $ 12.8 million for epz-6438 and related ezh2 programs . we did not maintain program-specific external cost information prior to january 1 , 2010. we expect that research and development expenses will increase in 2014 as we continue to progress and expand our ongoing clinical trials and as we continue to build our product platform and advance our other discovery and preclinical stage product programs . general and administrative the following is a comparison of general and administrative expenses for the years ended december 31 , 2013 , 2012 and 2011 : replace_table_token_7_th general and administrative expenses consist primarily of salaries and related benefits , including stock-based compensation , related to our executive , finance , intellectual property , business development and support functions . other general and administrative expenses include allocated facility-related costs not otherwise included in research and development expenses , travel expenses and professional fees for auditing , tax and legal services , including intellectual property-related legal services . for the year ended december 31 , 2013 , our general and administrative expenses increased by $ 6.5 million , or 87 % , compared to the year ended december 31 , 2012 , primarily related to additional professional fees , insurance and other costs associated with public company operation as well as increased stock-based compensation expense and other costs to support our growing organization , as we grew to 18 general and administrative employees as of december 31 , 2013. for the year ended december 31 , 2012 , our general and administrative expenses increased by $ 2.5 million , or 50 % , compared to the year ended december 31 , 2011 , primarily related to increased compensation expenses , as we grew from nine general and administrative employees as of december 31 , 2011 to 15 general and administrative employees as of december 31 , 2012 , and increased legal expenses for the maintenance , expansion and protection of our intellectual property portfolio . 84 we expect that general and administrative expenses will increase in 2014 as we expand our operating activities and incur additional costs associated with being a publicly traded company . other ( expense ) income , net other ( expense ) income , net consists of interest income earned on our cash equivalents , offset by interest and other expense . the change to other expense , net in the year ended december 31 , 2013 from other income in the year ended december 31 , 2012 reflects the recognition of interest expense on contract termination obligations . the increase in other income , net to $ 0.1 million in the year ended december 31 , 2012 from $ 10,000 in the year ended december 31 , 2011 reflects the increase in our interest-bearing cash equivalents , which resulted in higher interest income year-over-year . income tax expense income tax expense for the year ended december 31 , 2013 consisted primarily of current federal tax expense , as we were able to utilize all of our federal and state net operating loss carryforwards to offset the majority of our takable income for the year . income tax expense for the year ended december 31 , 2012 consisted solely of current state tax expense , as we were able to utilize federal net operating loss carryforwards to fully offset federal taxable income for the year . for all years prior to 2012 , we incurred taxable losses and accumulated significant federal and state net operating losses as well as research and development tax credits . accretion of preferred stock our redeemable convertible preferred stock automatically converted into common stock upon the closing of our initial public offering in june 2013. our preferred stock was redeemable beginning in 2017 at its original issue prices per share plus any declared but

liquidity and capital resources on june 5 , 2013 , we completed an initial public offering of our common stock , which resulted in the sale of 5,913,300 shares , including all additional shares available to cover over-allotments , at a price of $ 15.00 per share . we received net proceeds before expenses from the ipo of $ 82.5 million after deducting underwriting discounts and commissions paid by us . in connection with the closing of the ipo , all of our outstanding redeemable convertible preferred stock automatically converted to common stock at a one-for-three ratio as of june 5 , 2013. since our inception and through december 31 , 2013 , we have raised an aggregate of $ 294.0 million to fund our operations , of which $ 135.5 million was non-equity funding through our collaboration agreements , $ 82.5 million was from the sale of common stock in our initial public offering and $ 76.0 million was from the sale of preferred stock . in addition , as of december 31 , 2013 , we were entitled to receive $ 33.7 million for milestone payments earned , research and development services revenue earned and global development co-funding . as of december 31 , 2013 , we had $ 123.6 million in cash and cash equivalents . in addition to our existing cash and cash equivalents , we receive research and development funding and are eligible to earn a significant amount of option exercise and milestone payments under our collaboration agreements . our ability to earn these payments and the timing of earning these payments is dependent upon the outcome of our research and development activities and is uncertain at this time . our rights to payments under our collaboration agreements are our only committed external source of funds . 85 in february 2014 , we completed an offering of 3,673,901 shares of our common stock , at a price of $ 29.25 per share . we received net proceeds before expenses from this offering of $ 101.3 million after deducting underwriting discounts and commissions paid by us .


 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.
     ```liquidity and capital resources on june 5 , 2013 , we completed an initial public offering of our common stock , which resulted in the sale of 5,913,300 shares , including all additional shares available to cover over-allotments , at a price of $ 15.00 per share . we received net proceeds before expenses from the ipo of $ 82.5 million after deducting underwriting discounts and commissions paid by us . in connection with the closing of the ipo , all of our outstanding redeemable convertible preferred stock automatically converted to common stock at a one-for-three ratio as of june 5 , 2013. since our inception and through december 31 , 2013 , we have raised an aggregate of $ 294.0 million to fund our operations , of which $ 135.5 million was non-equity funding through our collaboration agreements , $ 82.5 million was from the sale of common stock in our initial public offering and $ 76.0 million was from the sale of preferred stock . in addition , as of december 31 , 2013 , we were entitled to receive $ 33.7 million for milestone payments earned , research and development services revenue earned and global development co-funding . as of december 31 , 2013 , we had $ 123.6 million in cash and cash equivalents . in addition to our existing cash and cash equivalents , we receive research and development funding and are eligible to earn a significant amount of option exercise and milestone payments under our collaboration agreements . our ability to earn these payments and the timing of earning these payments is dependent upon the outcome of our research and development activities and is uncertain at this time . our rights to payments under our collaboration agreements are our only committed external source of funds . 85 in february 2014 , we completed an offering of 3,673,901 shares of our common stock , at a price of $ 29.25 per share . we received net proceeds before expenses from this offering of $ 101.3 million after deducting underwriting discounts and commissions paid by us .
```    
 Suspicious Activity Report : we retain commercialization or co-commercialization rights in the united states under two of these collaborations . the clinical development plan for each of our therapeutic product candidates is directed towards patients with a particular genetically defined cancer . for many of our therapeutic product candidates , we plan to develop a companion diagnostic for the identification of patients with the genetically defined cancers that we seek to treat with our therapeutic product candidates . we plan to include patients with the particular genetically defined cancer in our clinical trials beginning in phase 1 with a view to assessing possible early evidence of potential therapeutic effect . as we are tailoring our personalized therapeutics for discrete patient populations with genetically defined cancers , we believe that many of our products may qualify for orphan drug designation in the united states , the european union and other regions . in addition to the therapeutic programs listed above , we are working with gsk on the development of three specified hmt inhibitors that are in preclinical development and for which gsk holds commercial rights . we also have active drug discovery programs for other hmts that we have prioritized . we design , manage and evaluate the results of all of our research and development plans centrally and have engaged a multinational network of clinical research organizations , or cros , to execute on specific phases of our research and development programs . by employing this network of cros , we seek to manage multiple development programs while maintaining flexibility in our cost structure . we commenced active operations in early 2008 , and our operations to date have been limited to organizing and staffing our company , business planning , raising capital , developing our technology , identifying potential product candidates , undertaking preclinical studies and , beginning in 2012 , conducting clinical trials . to date , we have financed our operations primarily through our initial public offering , private placements of our preferred stock and funding received from collaboration and license agreements . all of our revenue to date has been collaboration revenue . since our inception and through december 31 , 2013 , we have raised an aggregate of $ 294.0 million to fund our operations , of which $ 135.5 million was non-equity funding through our collaboration agreements , $ 82.5 million was from our initial public offering and $ 76.0 million was from the sale of preferred stock . in addition , as of december 31 , 2013 , we were entitled to receive $ 33.7 million for milestone payments earned , research and development services revenue earned and global development co-funding . in february 2014 , we completed an offering of 3,673,901 shares of our common stock , at a price of $ 29.25 per share . we received net proceeds before expenses from this offering of $ 101.3 million after deducting underwriting discounts and commissions paid by us . since inception , we have incurred significant operating losses . our net loss was $ 3.5 million for the year ended december 31 , 2013. as of december 31 , 2013 , we had an accumulated deficit of $ 56.1 million . we expect to continue to incur significant expenses and operating losses over the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . we anticipate that our expenses will increase substantially as we continue our phase 1 clinical trial of epz-5676 in mll-r and mll-ptd adult patients ; initiate our planned phase 1b clinical trial of epz-5676 in pediatric patients with mll-r ; continue our phase 1/2 clinical trial of epz-6438 , subject to our opt-in right ; initiate our planned phase 2 clinical trial of epz-6438 in patients with synovial sarcoma , subject to our opt-in right ; continue the research and development of our other product candidates ; seek to discover and develop additional product candidates ; seek regulatory approvals for our product candidates that successfully complete clinical trials ; establish a sales , marketing and distribution infrastructure and scale up external manufacturing capabilities to commercialize any products for which we may obtain regulatory approval ; maintain , expand and protect our intellectual property portfolio ; hire additional clinical , quality control and scientific personnel ; and add operational , financial and management information systems and personnel , including personnel to support our product development and planned future commercialization efforts . 78 collaborations the key terms of our primary collaborations are as follows : celgene in april 2012 , we entered into a collaboration and license agreement with celgene to discover , develop and commercialize , in all countries other than the united states , small molecule hmt inhibitors targeting dot1l , including epz-5676 , and any other hmt targets from our product platform for patients with genetically defined cancers , excluding targets covered by our two other existing therapeutic collaborations , which we refer to as the available targets . agreement structure under the terms of the agreement , we received a $ 65.0 million upfront payment and $ 25.0 million from the sale of our series c preferred stock to an affiliate of celgene , of which $ 3.0 million was considered a premium and included as collaboration arrangement consideration for a total upfront payment of $ 68.0 million . in addition , we earned a $ 25.0 million clinical development milestone payment and recorded $ 1.9 million of global development co-funding during the year ended december 31 , 2013. we are also eligible to earn up to $ 35.0 million in additional clinical development milestone payments and up to $ 100.0 million in regulatory milestone payments related to dot1l as well as up to $ 65.0 million in payments , including a combination of clinical development milestone payments and an option exercise fee , and up to $ 100.0 million in regulatory milestone payments for each available target as to story_separator_special_tag our internal research and 83 development expenses increased by $ 3.9 million in 2013 as compared to 2012 and by $ 6.1 million in 2012 as compared to 2011 as the number of our research and development employees grew from 33 employees as of december 31 , 2011 to 47 employees as of december 31 , 2012 and to 56 employees as of december 31 , 2013. during the year ended december 31 , 2013 , external research and development expenses for epz-5676 and related dot1l programs focused on the advancement of the epz-5676 phase 1 clinical trial , with expenses increasing to $ 13.3 million . during the years ended december 31 , 2012 and 2011 , external research and development spending for epz-5676 and related dot1l programs focused on the advancement of epz-5676 , with expenses increasing from $ 5.8 million for the year ended december 31 , 2011 to $ 8.0 million for the year ended december 31 , 2012 , principally due to spending on preclinical studies . during the year ended december 31 , 2013 , external research and development expenses for epz-6438 and related ezh2 programs focused on the epz-6438 phase 1/2 clinical trial with expenses of $ 3.9 million . during the years ended december 31 , 2012 and 2011 , external research and development spending for epz-6438 and related ezh2 programs focused on progressing our epz-6438 product candidate into preclinical phases , with expenses decreasing slightly , from $ 3.8 million in 2011 to $ 3.5 million in 2012 , as some phases of development shifted to eisai . external research and development spending for discovery and preclinical stage product programs , including the three target programs partnered with gsk , increased from $ 5.3 million for the year ended december 31 , 2011 to $ 12.9 million for the year ended december 31 , 2012 and $ 22.4 million for the year ended december 31 , 2013 as we advanced the research and development of these programs . external research and development spending from january 1 , 2010 through december 31 , 2013 was $ 32.5 million for epz-5676 and related dot1l programs and $ 12.8 million for epz-6438 and related ezh2 programs . we did not maintain program-specific external cost information prior to january 1 , 2010. we expect that research and development expenses will increase in 2014 as we continue to progress and expand our ongoing clinical trials and as we continue to build our product platform and advance our other discovery and preclinical stage product programs . general and administrative the following is a comparison of general and administrative expenses for the years ended december 31 , 2013 , 2012 and 2011 : replace_table_token_7_th general and administrative expenses consist primarily of salaries and related benefits , including stock-based compensation , related to our executive , finance , intellectual property , business development and support functions . other general and administrative expenses include allocated facility-related costs not otherwise included in research and development expenses , travel expenses and professional fees for auditing , tax and legal services , including intellectual property-related legal services . for the year ended december 31 , 2013 , our general and administrative expenses increased by $ 6.5 million , or 87 % , compared to the year ended december 31 , 2012 , primarily related to additional professional fees , insurance and other costs associated with public company operation as well as increased stock-based compensation expense and other costs to support our growing organization , as we grew to 18 general and administrative employees as of december 31 , 2013. for the year ended december 31 , 2012 , our general and administrative expenses increased by $ 2.5 million , or 50 % , compared to the year ended december 31 , 2011 , primarily related to increased compensation expenses , as we grew from nine general and administrative employees as of december 31 , 2011 to 15 general and administrative employees as of december 31 , 2012 , and increased legal expenses for the maintenance , expansion and protection of our intellectual property portfolio . 84 we expect that general and administrative expenses will increase in 2014 as we expand our operating activities and incur additional costs associated with being a publicly traded company . other ( expense ) income , net other ( expense ) income , net consists of interest income earned on our cash equivalents , offset by interest and other expense . the change to other expense , net in the year ended december 31 , 2013 from other income in the year ended december 31 , 2012 reflects the recognition of interest expense on contract termination obligations . the increase in other income , net to $ 0.1 million in the year ended december 31 , 2012 from $ 10,000 in the year ended december 31 , 2011 reflects the increase in our interest-bearing cash equivalents , which resulted in higher interest income year-over-year . income tax expense income tax expense for the year ended december 31 , 2013 consisted primarily of current federal tax expense , as we were able to utilize all of our federal and state net operating loss carryforwards to offset the majority of our takable income for the year . income tax expense for the year ended december 31 , 2012 consisted solely of current state tax expense , as we were able to utilize federal net operating loss carryforwards to fully offset federal taxable income for the year . for all years prior to 2012 , we incurred taxable losses and accumulated significant federal and state net operating losses as well as research and development tax credits . accretion of preferred stock our redeemable convertible preferred stock automatically converted into common stock upon the closing of our initial public offering in june 2013. our preferred stock was redeemable beginning in 2017 at its original issue prices per share plus any declared but

