components of operating results revenue to date , our revenue has consisted of product sales revenue since september 2017 and upfront license fees , reimbursed research and development expenses and milestone payments from our strategic collaboration with celgene for tislelizumab entered in 2017 and our collaboration agreements with merck kgaa , darmstadt germany for pamiparib and lifirafenib entered in 2013. we do not expect to generate significant revenue from internally-developed drug candidates unless and until we successfully complete development and obtain regulatory approval for one or more of our drug candidates , which is subject to significant uncertainty . revenues from product sales are recognized when persuasive evidence of an arrangement exists , delivery has occurred and title of the product and associated risk of loss has transferred to the customer , the price is fixed or determinable , collection from the customer has been reasonably assured , and returns and allowances can be reasonably estimated . product sales are recorded net of estimated rebates , estimated product returns and other deductions . provisions for estimated reductions to revenue are provided for in the same period the related sales are recorded and are based on the sales terms , historical experience and trend analysis . we expect revenue from product sales to increase in 2018 as we expand our efforts to promote and obtain reimbursement for abraxane ® and revlimid ® and launch vidaza ® in china . we also record revenue from our collaboration and license agreements with celgene and merck kgaa , darmstadt germany . under each agreement , we have received upfront payments related to the license fee which was recognized upon the delivery of the license right . additionally , the reimbursement of remaining undelivered research and development services is recognized over the performance periods of the respective collaboration arrangements . in the case of the celgene arrangement , we will also receive research and development reimbursement revenue for the basket study trials that celgene opts into . see note 3 to our consolidated financial statements included in this annual report for a description of these agreements . expenses cost of sales cost of sales includes the acquisition costs of our commercial products . research and development expenses research and development expenses consist of the costs associated with our research and development activities , conducting preclinical studies and clinical trials and activities related to regulatory filings . our research and development expenses consist of : · expenses incurred under agreements with contract research organizations , or cros , contract manufacturing organizations , and consultants that conduct and support clinical trials and preclinical studies ; · costs of comparator drugs in certain of our clinical trials ; · costs associated with preclinical activities and development activities ; · costs associated with regulatory operations ; · employee‑related expenses , including salaries , benefits , travel and share‑based compensation expense for research and development personnel ; and 98 · other expenses , which include direct and allocated expenses for rent and maintenance of facilities , insurance and other supplies used in research and development activities . our current research and development activities mainly relate to the clinical advancement of our five internally-developed drug candidates mentioned above : · zanubrutinib , an investigational small molecule inhibitor of btk ; · tislelizumab , an investigational humanized monoclonal antibody against pd‑1 ; · pamiparib , an investigational small molecule inhibitor of parp1 and parp2 ; · lifirafenib , a novel small molecule inhibitor of both the monomer and dimer forms of braf ; and · bgb-a333 , an investigational humanized monoclonal antibody against pd-l1 . we expense research and development costs when we incur them . we record costs for certain development activities , such as clinical trials , based on an evaluation of the progress to completion of specific tasks using data such as subject enrollment , clinical site activations or information our vendors provide to us . we expense the manufacturing costs of our internally-developed products that are used in clinical trials as they are incurred , as research and development expense . we do not allocate employee‑related costs , depreciation , rental and other indirect costs to specific research and development programs because these costs are deployed across multiple product programs under research and development and , as such , are separately classified as unallocated research and development expenses . at this time , it is difficult to estimate or know for certain , the nature , timing and estimated costs of the efforts that will be necessary to complete the development of our internally-developed drug candidates . we are also unable to predict when , if ever , material net cash inflows will commence from sales of our internally-developed drug candidates . this is due to the numerous risks and uncertainties associated with developing such drug candidates , including the uncertainty of : · successful enrollment in and completion of clinical trials ; · establishing an appropriate safety profile ; · establishing commercial manufacturing capabilities or making arrangements with third‑party manufacturers ; · receipt of marketing approvals from applicable regulatory authorities ; · successfully launching and commercializing our drug candidates , if and when approved , whether as monotherapies or in combination with our internally discovered drug candidates or third‑party products ; · obtaining and maintaining patent and trade secret protection and regulatory exclusivity for our drug candidates ; · continued acceptable safety profiles of the products following approval ; · competition from competing products ; and · retention of key personnel . a change in the outcome of any of these variables with respect to the development of any of our drug candidates would significantly change the costs , timing and viability associated with the development of that drug candidate . research and development activities are central to our business model . story_separator_special_tag net cash provided by financing activities was $ 380.9 million for the year ended december 31 , 2016 , which was due to proceeds of $ 366.7 million from our initial and follow-on public offerings , net of offering costs , $ 12.0 million of long-term loan proceeds and $ 2.2 million of proceeds from the exercise of warrants and employee share options . net cash provided by financing activities was $ 103.2 million for the year ended december 31 , 2015 , which was primarily due to proceeds of $ 97.4 million from the issuance of series a-2 preferred shares to certain investors , $ 6.2 million of long-term loan proceeds from suzhou industrial park biotech development co. , ltd. and china construction bank and $ 0.1 million in proceeds from the exercise of employee stock options , partially offset by $ 0.3 million in the repayment of a short-term loan . 107 operating capital requirements we do not expect to generate significant revenue from product sales unless and until we obtain regulatory approval for and commercialize one of our current or future drug candidates . we have exclusive rights to distribute and promote celgene 's approved cancer therapies in china , for which we began recognizing revenue in the third quarter of 2017. we anticipate that we will continue to generate losses for the foreseeable future , and we expect our losses to increase as we continue the development of , and seek regulatory approvals for , our drug candidates , and prepare for commercialization and begin to commercialize any approved products . as a growing public company , we will continue to incur additional costs associated with our operations . in addition , we expect to incur significant commercialization expenses for product sales , marketing and manufacturing of our in-licensed drug products in china and , subject to obtaining regulatory approval , our drug candidates . accordingly , we anticipate that we will need substantial additional funding in connection with our continuing operations . based on our current operating plan , we expect that our existing cash , cash equivalents and short-term investments as of december 31 , 2017 , will enable us to fund our operating expenses and capital expenditures requirements for at least the next 12 months after the date that the financial statements included in this report are issued . we expect that our expenses will continue to increase substantially as we fund our ongoing research and clinical development efforts , including our ongoing and planned pivotal trials for zanubrutinib , tislelizumab and pamiparib , both in china and globally ; our other ongoing and planned clinical trials ; regulatory filing and registration of our late-stage drug candidates ; expansion of commercial operations in china and preparation for launch of our drug candidates globally ; business development and manufacturing activities ; and working capital and other general corporate purposes . we have based our estimates on assumptions that may prove to be wrong , and we may use our available capital resources sooner than we currently expect . because of the numerous risks and uncertainties associated with the development and commercialization of our drug candidates , we are unable to estimate the amounts of increased capital outlays and operating expenditures necessary to complete the development and commercialization of our drug candidates . our future capital requirements will depend on many factors , including : · the costs , timing and outcome of regulatory reviews and approvals ; · the ability of our drug candidates to progress through clinical development successfully ; · the initiation , progress , timing , costs and results of nonclinical studies and clinical trials for our other programs and potential drug candidates ; · the number and characteristics of the drug candidates we pursue ; · the costs of establishing commercial manufacturing capabilities or securing necessary supplies from third-party manufacturers ; · the costs of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending intellectual property‑related claims ; · the costs of establishing and expanding our commercial operations and the success of those operations ; · the extent to which we acquire or in‑license other products and technologies ; and · our ability to maintain and establish collaboration arrangements on favorable terms , if at all . until such time , if ever , as we can generate substantial product revenue , we expect to finance our cash needs through a combination of equity offerings , debt financings , collaboration agreements , strategic alliances , licensing arrangements , government grants and other available sources . under sec rules , we currently qualify as a “ well-known seasoned issuer , ” which allows us to file shelf registration statements to register an unspecified amount of securities that are effective upon filing . on may 26 , 2017 , we filed such a shelf registration statement with the sec for the issuance of an unspecified amount of ordinary shares ( including in the form of adss ) , preferred shares , various series of debt 108 securities and or warrants to purchase any of such securities , either individually or in units , from time to time at prices and on terms to be determined at the time of any such offering . this registration statement was effective upon filing and will remain in effect for up to three years from filing . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interest of our shareholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect your rights as a holder of adss or ordinary shares . debt financing , if available , may involve agreements that include covenants limiting or restricting our ability to take specific actions , such as incurring additional debt , making capital expenditures or declaring dividends and may require

liquidity and capital resources since inception , we have incurred annual net losses and negative cash flows from our operations . substantially all of our losses have resulted from the funding of our research and development programs and selling , general and administrative expenses associated with our operations . we incurred net losses of $ 93.3 million , $ 119.2 million and $ 57.1 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , we had an accumulated deficit of $ 330.5 million . our operating activities provided $ 12.8 million for the year ended december 31 , 2017 and used $ 89.5 million and $ 39.8 million for the years ended december 31 , 2016 and 2015 , respectively . we have financed our operations principally through proceeds from public and private offerings of our securities and proceeds from our collaboration agreements with celgene and merck kgaa , darmstadt germany . during the year ended december 31 , 2017 , we raised an aggregate of $ 601.4 million , consisting of $ 188.5 million in net proceeds from a public offering of adss , $ 149.9 million in net proceeds from the sale of ordinary shares to celgene in connection with our collaboration agreement , and $ 263.0 million in up-front fees under our collaboration agreement with celgene . as of december 31 , 2017 , we had cash , cash equivalents and short-term investments of $ 837.5 million , including approximately $ 139.5 million of cash and cash equivalents and short-term investments held by our joint venture , beigene biologics , to build a commercial biologics facility in guangzhou , china and to fund research and development of biologics drug candidates in china .


 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 since inception , we have incurred annual net losses and negative cash flows from our operations . substantially all of our losses have resulted from the funding of our research and development programs and selling , general and administrative expenses associated with our operations . we incurred net losses of $ 93.3 million , $ 119.2 million and $ 57.1 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , we had an accumulated deficit of $ 330.5 million . our operating activities provided $ 12.8 million for the year ended december 31 , 2017 and used $ 89.5 million and $ 39.8 million for the years ended december 31 , 2016 and 2015 , respectively . we have financed our operations principally through proceeds from public and private offerings of our securities and proceeds from our collaboration agreements with celgene and merck kgaa , darmstadt germany . during the year ended december 31 , 2017 , we raised an aggregate of $ 601.4 million , consisting of $ 188.5 million in net proceeds from a public offering of adss , $ 149.9 million in net proceeds from the sale of ordinary shares to celgene in connection with our collaboration agreement , and $ 263.0 million in up-front fees under our collaboration agreement with celgene . as of december 31 , 2017 , we had cash , cash equivalents and short-term investments of $ 837.5 million , including approximately $ 139.5 million of cash and cash equivalents and short-term investments held by our joint venture , beigene biologics , to build a commercial biologics facility in guangzhou , china and to fund research and development of biologics drug candidates in china .
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 Suspicious Activity Report : components of operating results revenue to date , our revenue has consisted of product sales revenue since september 2017 and upfront license fees , reimbursed research and development expenses and milestone payments from our strategic collaboration with celgene for tislelizumab entered in 2017 and our collaboration agreements with merck kgaa , darmstadt germany for pamiparib and lifirafenib entered in 2013. we do not expect to generate significant revenue from internally-developed drug candidates unless and until we successfully complete development and obtain regulatory approval for one or more of our drug candidates , which is subject to significant uncertainty . revenues from product sales are recognized when persuasive evidence of an arrangement exists , delivery has occurred and title of the product and associated risk of loss has transferred to the customer , the price is fixed or determinable , collection from the customer has been reasonably assured , and returns and allowances can be reasonably estimated . product sales are recorded net of estimated rebates , estimated product returns and other deductions . provisions for estimated reductions to revenue are provided for in the same period the related sales are recorded and are based on the sales terms , historical experience and trend analysis . we expect revenue from product sales to increase in 2018 as we expand our efforts to promote and obtain reimbursement for abraxane ® and revlimid ® and launch vidaza ® in china . we also record revenue from our collaboration and license agreements with celgene and merck kgaa , darmstadt germany . under each agreement , we have received upfront payments related to the license fee which was recognized upon the delivery of the license right . additionally , the reimbursement of remaining undelivered research and development services is recognized over the performance periods of the respective collaboration arrangements . in the case of the celgene arrangement , we will also receive research and development reimbursement revenue for the basket study trials that celgene opts into . see note 3 to our consolidated financial statements included in this annual report for a description of these agreements . expenses cost of sales cost of sales includes the acquisition costs of our commercial products . research and development expenses research and development expenses consist of the costs associated with our research and development activities , conducting preclinical studies and clinical trials and activities related to regulatory filings . our research and development expenses consist of : · expenses incurred under agreements with contract research organizations , or cros , contract manufacturing organizations , and consultants that conduct and support clinical trials and preclinical studies ; · costs of comparator drugs in certain of our clinical trials ; · costs associated with preclinical activities and development activities ; · costs associated with regulatory operations ; · employee‑related expenses , including salaries , benefits , travel and share‑based compensation expense for research and development personnel ; and 98 · other expenses , which include direct and allocated expenses for rent and maintenance of facilities , insurance and other supplies used in research and development activities . our current research and development activities mainly relate to the clinical advancement of our five internally-developed drug candidates mentioned above : · zanubrutinib , an investigational small molecule inhibitor of btk ; · tislelizumab , an investigational humanized monoclonal antibody against pd‑1 ; · pamiparib , an investigational small molecule inhibitor of parp1 and parp2 ; · lifirafenib , a novel small molecule inhibitor of both the monomer and dimer forms of braf ; and · bgb-a333 , an investigational humanized monoclonal antibody against pd-l1 . we expense research and development costs when we incur them . we record costs for certain development activities , such as clinical trials , based on an evaluation of the progress to completion of specific tasks using data such as subject enrollment , clinical site activations or information our vendors provide to us . we expense the manufacturing costs of our internally-developed products that are used in clinical trials as they are incurred , as research and development expense . we do not allocate employee‑related costs , depreciation , rental and other indirect costs to specific research and development programs because these costs are deployed across multiple product programs under research and development and , as such , are separately classified as unallocated research and development expenses . at this time , it is difficult to estimate or know for certain , the nature , timing and estimated costs of the efforts that will be necessary to complete the development of our internally-developed drug candidates . we are also unable to predict when , if ever , material net cash inflows will commence from sales of our internally-developed drug candidates . this is due to the numerous risks and uncertainties associated with developing such drug candidates , including the uncertainty of : · successful enrollment in and completion of clinical trials ; · establishing an appropriate safety profile ; · establishing commercial manufacturing capabilities or making arrangements with third‑party manufacturers ; · receipt of marketing approvals from applicable regulatory authorities ; · successfully launching and commercializing our drug candidates , if and when approved , whether as monotherapies or in combination with our internally discovered drug candidates or third‑party products ; · obtaining and maintaining patent and trade secret protection and regulatory exclusivity for our drug candidates ; · continued acceptable safety profiles of the products following approval ; · competition from competing products ; and · retention of key personnel . a change in the outcome of any of these variables with respect to the development of any of our drug candidates would significantly change the costs , timing and viability associated with the development of that drug candidate . research and development activities are central to our business model . story_separator_special_tag net cash provided by financing activities was $ 380.9 million for the year ended december 31 , 2016 , which was due to proceeds of $ 366.7 million from our initial and follow-on public offerings , net of offering costs , $ 12.0 million of long-term loan proceeds and $ 2.2 million of proceeds from the exercise of warrants and employee share options . net cash provided by financing activities was $ 103.2 million for the year ended december 31 , 2015 , which was primarily due to proceeds of $ 97.4 million from the issuance of series a-2 preferred shares to certain investors , $ 6.2 million of long-term loan proceeds from suzhou industrial park biotech development co. , ltd. and china construction bank and $ 0.1 million in proceeds from the exercise of employee stock options , partially offset by $ 0.3 million in the repayment of a short-term loan . 107 operating capital requirements we do not expect to generate significant revenue from product sales unless and until we obtain regulatory approval for and commercialize one of our current or future drug candidates . we have exclusive rights to distribute and promote celgene 's approved cancer therapies in china , for which we began recognizing revenue in the third quarter of 2017. we anticipate that we will continue to generate losses for the foreseeable future , and we expect our losses to increase as we continue the development of , and seek regulatory approvals for , our drug candidates , and prepare for commercialization and begin to commercialize any approved products . as a growing public company , we will continue to incur additional costs associated with our operations . in addition , we expect to incur significant commercialization expenses for product sales , marketing and manufacturing of our in-licensed drug products in china and , subject to obtaining regulatory approval , our drug candidates . accordingly , we anticipate that we will need substantial additional funding in connection with our continuing operations . based on our current operating plan , we expect that our existing cash , cash equivalents and short-term investments as of december 31 , 2017 , will enable us to fund our operating expenses and capital expenditures requirements for at least the next 12 months after the date that the financial statements included in this report are issued . we expect that our expenses will continue to increase substantially as we fund our ongoing research and clinical development efforts , including our ongoing and planned pivotal trials for zanubrutinib , tislelizumab and pamiparib , both in china and globally ; our other ongoing and planned clinical trials ; regulatory filing and registration of our late-stage drug candidates ; expansion of commercial operations in china and preparation for launch of our drug candidates globally ; business development and manufacturing activities ; and working capital and other general corporate purposes . we have based our estimates on assumptions that may prove to be wrong , and we may use our available capital resources sooner than we currently expect . because of the numerous risks and uncertainties associated with the development and commercialization of our drug candidates , we are unable to estimate the amounts of increased capital outlays and operating expenditures necessary to complete the development and commercialization of our drug candidates . our future capital requirements will depend on many factors , including : · the costs , timing and outcome of regulatory reviews and approvals ; · the ability of our drug candidates to progress through clinical development successfully ; · the initiation , progress , timing , costs and results of nonclinical studies and clinical trials for our other programs and potential drug candidates ; · the number and characteristics of the drug candidates we pursue ; · the costs of establishing commercial manufacturing capabilities or securing necessary supplies from third-party manufacturers ; · the costs of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending intellectual property‑related claims ; · the costs of establishing and expanding our commercial operations and the success of those operations ; · the extent to which we acquire or in‑license other products and technologies ; and · our ability to maintain and establish collaboration arrangements on favorable terms , if at all . until such time , if ever , as we can generate substantial product revenue , we expect to finance our cash needs through a combination of equity offerings , debt financings , collaboration agreements , strategic alliances , licensing arrangements , government grants and other available sources . under sec rules , we currently qualify as a “ well-known seasoned issuer , ” which allows us to file shelf registration statements to register an unspecified amount of securities that are effective upon filing . on may 26 , 2017 , we filed such a shelf registration statement with the sec for the issuance of an unspecified amount of ordinary shares ( including in the form of adss ) , preferred shares , various series of debt 108 securities and or warrants to purchase any of such securities , either individually or in units , from time to time at prices and on terms to be determined at the time of any such offering . this registration statement was effective upon filing and will remain in effect for up to three years from filing . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interest of our shareholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect your rights as a holder of adss or ordinary shares . debt financing , if available , may involve agreements that include covenants limiting or restricting our ability to take specific actions , such as incurring additional debt , making capital expenditures or declaring dividends and may require

