we anticipate completion of enrollment in the triplet regimen expansion cohort during the second quarter of 2021 and availability of preliminary response rate data from the cohort also in the second quarter of 2021 . ● phase 1 nhl trial we are currently enrolling a phase 1 clinical trial in relapsed/refractory tp53 mutant chronic lymphoid leukemia ( cll ) assessing eprenetapopt with venetoclax and rituximab and eprenetapopt with ibrutinib in order to further assess eprenetapopt in hematological malignancies . the first patient was enrolled in the first quarter of 2021. we are also planning to evaluate the combination of eprenetapopt with venetoclax in relapsed/refractory mantle cell lymphoma . 118 ● phase 1/2 solid tumor trial – we are currently enrolling a phase 1/2 clinical trial in relapsed/refractory gastric , bladder and non-small cell lung cancers assessing eprenetapopt with anti-pd-1 therapy . the dose-escalation phase of the trial enrolled 6 patients with advanced solid tumors and no dose-limiting toxicities were observed . based on these results , we are enrolling expansion cohorts for patients with advanced gastric , bladder and non-small cell lung cancers and have currently enrolled 8 patients across these expansion arms . our second product candidate , apr-548 , is a next generation p53 reactivator that is being developed in an oral dosage form . we have planned a phase 1 dose-escalation clinical trial evaluating safety , tolerability and preliminary efficacy of apr-548 with azacitidine in frontline and relapsed/refractory mds patients . we anticipate the first patient to be enrolled early in the second quarter of 2021 . ​ aprea therapeutics ab , or aprea ab , was originally incorporated in 2002 and commenced principal operations in 2006. we incorporated aprea therapeutics , inc. ( the “ company ” ) in may 2019. in september 2019 we completed a corporate reorganization and , as a result , all of the issued and outstanding stock of aprea ab was exchanged for common stock , preferred stock or options , as applicable , of the company . as a result of such transactions , aprea ab became a wholly-owned subsidiary of the company . we have devoted substantially all of our resources to developing our product candidates , including eprenetapopt , building our intellectual property portfolio , business planning , raising capital and providing general and administrative support for these operations . to date , we have financed our operations through private placements of preferred stock and the net proceeds received from the initial public offering ( ipo ) of our common stock . through december 31 , 2020 , we had received net proceeds of approximately $ 223.9 million from our sales of preferred and common stock . since our inception , we have incurred significant losses on an aggregate basis . our ability to generate product revenue sufficient to achieve profitability will depend on the successful development and eventual commercialization of one or more of our product candidates . our net losses were $ 53.5 million , $ 28.1 million and $ 15.5 million for the years ended december 31 , 2020 , 2019 and 2018 , respectively . as of december 31 , 2020 , we had an accumulated deficit of $ 144.0 million . these losses have resulted primarily from costs incurred in connection with research and development activities , patent investment , and general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years . we anticipate that our expenses will increase substantially if and as we : ● conduct our current and future clinical trials and additional preclinical research of eprenetapopt ; ● initiate and continue research and preclinical and clinical development of our other product candidates ; ● seek to identify and develop additional product candidates ; ● seek marketing approvals for any of our product candidates that successfully complete clinical trials , if any ; ● establish a sales , marketing , manufacturing and distribution infrastructure to commercialize any products for which we may obtain marketing approval ; ● require the manufacture of larger quantities of our product candidates for clinical development and potentially commercialization ; ● maintain , expand , protect and enforce our intellectual property portfolio ; ● acquire or in-license other drugs and technologies ; ● defend against any claims of infringement , misappropriation or other violation of third-party intellectual property ; 119 ● hire and retain additional clinical , quality control and scientific personnel ; and ● add operational , financial and management information systems and personnel , including personnel to support our drug development , any future commercialization efforts and our transition to a public company . furthermore , if we obtain marketing approval for any of our product candidates , we expect to incur significant commercialization expenses related to product manufacturing , marketing , sales and distribution . as a result , we will need additional financing to support our continuing operations . until such time as we can generate significant revenue from product sales , if ever , we expect to finance our operations through a combination of public or private equity or debt financings or other sources , which may include collaborations with third parties . we may be unable to raise additional funds or enter into other agreements or arrangements when needed on favorable terms , or at all . if we fail to raise capital or enter into such agreements as and when needed , we may have to significantly delay , scale back or discontinue the development or commercialization of one or more of our product candidates . because of the numerous risks and uncertainties associated with product development , we are unable to predict the timing or amount of increased expenses or when or if we will be able to achieve or maintain profitability . even if we are able to generate revenue from product sales , we may not become profitable . story_separator_special_tag we apply the straight-line method of expense recognition to all awards with only service-based vesting conditions and apply the graded-vesting method to all awards with performance-based vesting conditions or to awards with both service-based and performance-based vesting conditions . for stock-based awards granted to non-employees , compensation expense is recognized over the period during which services are rendered by such non-employees until completed in accordance with the fasb issued asu no . 2018-07 , compensation-stock compensation ( topic 718 ) : improvements to nonemployee share-based payment accounting . the new standard largely aligns the accounting for share-based payment awards issued to employees and nonemployees by expanding the scope of asc 718 to apply to nonemployee share-based transactions , as long as the transaction is not effectively a form of financing . we estimate the fair value of each stock option grant on the date of grant using the black-scholes option-pricing model , which uses as inputs the fair value of our common stock and assumptions we make for the volatility of our common stock , the expected term of our stock options , the risk-free interest rate for a period that approximates the expected term of our stock options and our expected dividend yield . determination of fair value of common stock as a privately held company ( through october 2 , 2019 ) , there had been no public market for our common stock , the estimated fair value of our common stock had been determined by our board of directors as of the date of each option grant , with input from management , considering our most recently available third-party valuations of common stock and our board of directors ' assessment of additional objective and subjective factors that it believed were relevant and which 124 may have changed from the date of the most recent valuation through the date of the grant . these third-party valuations were performed in accordance with the guidance outlined in the american institute of certified public accountants ' accounting and valuation guide , valuation of privately-held-company equity securities issued as compensation . our common stock valuations were prepared using a hybrid method , which used market approaches to estimate our enterprise value . the hybrid method is a probability-weighed expected return method , or pwerm , where the equity value in one or more scenarios is calculated using an option-pricing method , or opm . the opm treats common stock and preferred stock as call options on the total equity value of a company , with exercise prices based on the value thresholds at which the allocation among the various holders of a company 's securities changes . under this method , the common stock has value only if the funds available for distribution to stockholders exceeded the value of the preferred stock liquidation preference at the time of the liquidity event , such as a strategic sale or a merger . the pwerm is a scenario-based methodology that estimates the fair value of common stock based upon an analysis of future values for the company , assuming various outcomes . the common stock value is based on the probability-weighted present value of expected future investment returns considering each of the possible outcomes available as well as the rights of each class of stock . the future value of the common stock under each outcome is discounted back to the valuation date at an appropriate risk-adjusted discount rate and probability weighted to arrive at an indication of value for the common stock . these third-party valuations were performed at various dates , which resulted in valuations of our common stock of $ 0.92 per share as of may 31 , 2016 , $ 1.01 per share as of october 2 , 2017 , $ 3.18 per share as of december 31 , 2018 and $ 10.95 per share as of july 15 , 2019. in addition to considering the results of these third-party valuations , our board of directors considered various objective and subjective factors to determine the fair value of our common stock as of each grant date , including : ● the prices at which we sold shares of preferred stock and the superior rights and preferences of the preferred stock relative to our common stock at the time of each grant ; ● the progress of our research and development programs , including the status and results of preclinical studies and clinical trials for our product candidates ; ● our stage of development and commercialization and our business strategy ; ● external market conditions affecting the biopharmaceutical industry and trends within the biopharmaceutical industry ; ● our financial position , including cash on hand , and our historical and forecasted performance and operating results ; ● the lack of an active public market for our common stock and our preferred stock ; ● the likelihood of achieving a liquidity event , such as an initial public offering , or ipo , or sale of our company in light of prevailing market conditions ; and ● the analysis of ipos and the market performance of similar companies in the biopharmaceutical industry . the assumptions underlying these valuations represented management 's best estimate , which involved inherent uncertainties and the application of management 's judgment . as a result , if we had used significantly different assumptions or estimates , the fair value of our common stock and our stock-based compensation expense could have been materially different . emerging growth company and smaller reporting company status we are an emerging growth company ( egc ) , as defined in the jobs act . under this act , emerging growth companies are permitted to delay adopting new or revised accounting standards applicable to public companies until those standards would otherwise apply to private companies . we have irrevocably elected not to avail ourselves of this exemption from 125 new or revised accounting standards and , therefore , will be subject to the same

liquidity and capital resources since our inception , we have incurred significant losses on an aggregate basis . we have not yet commercialized any of our product candidates , which are in various phases of preclinical and clinical development , and we do not expect to generate revenue from sales of any products for several years , if at all . to date , we have financed our operations through private placements of our preferred and common stock and the net proceeds received from the initial public offering ( ipo ) of our common stock . through december 31 , 2020 , we had received net proceeds of $ 223.9 million from our sales of preferred and common stock . as of december 31 , 2020 , we had cash and cash equivalents of $ 89.0 million . 128 cash flows the following table summarizes our sources and uses of cash for each of the periods presented : ​ replace_table_token_6_th ​ operating activities cash used in operating activities resulted primarily from our net losses adjusted for non-cash charges and changes in components of working capital . net cash used in operating activities was $ 41.8 million for the year ended december 31 , 2020 compared to $ 26.7 million for the year ended december 31 , 2019. the increase in cash used in operating activities of $ 15.1 million was primarily attributable to an increase in our net loss of $25.4 million , resulting from both increased research and development expenses and increased general and administrative expenses discussed previously partially offset by an increase in non-cash stock-based compensation of $ 3.6 million as well as a net increase in operating assets and liabilities of $ 4.4 million .


 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 our inception , we have incurred significant losses on an aggregate basis . we have not yet commercialized any of our product candidates , which are in various phases of preclinical and clinical development , and we do not expect to generate revenue from sales of any products for several years , if at all . to date , we have financed our operations through private placements of our preferred and common stock and the net proceeds received from the initial public offering ( ipo ) of our common stock . through december 31 , 2020 , we had received net proceeds of $ 223.9 million from our sales of preferred and common stock . as of december 31 , 2020 , we had cash and cash equivalents of $ 89.0 million . 128 cash flows the following table summarizes our sources and uses of cash for each of the periods presented : ​ replace_table_token_6_th ​ operating activities cash used in operating activities resulted primarily from our net losses adjusted for non-cash charges and changes in components of working capital . net cash used in operating activities was $ 41.8 million for the year ended december 31 , 2020 compared to $ 26.7 million for the year ended december 31 , 2019. the increase in cash used in operating activities of $ 15.1 million was primarily attributable to an increase in our net loss of $25.4 million , resulting from both increased research and development expenses and increased general and administrative expenses discussed previously partially offset by an increase in non-cash stock-based compensation of $ 3.6 million as well as a net increase in operating assets and liabilities of $ 4.4 million .
```    
 Suspicious Activity Report : we anticipate completion of enrollment in the triplet regimen expansion cohort during the second quarter of 2021 and availability of preliminary response rate data from the cohort also in the second quarter of 2021 . ● phase 1 nhl trial we are currently enrolling a phase 1 clinical trial in relapsed/refractory tp53 mutant chronic lymphoid leukemia ( cll ) assessing eprenetapopt with venetoclax and rituximab and eprenetapopt with ibrutinib in order to further assess eprenetapopt in hematological malignancies . the first patient was enrolled in the first quarter of 2021. we are also planning to evaluate the combination of eprenetapopt with venetoclax in relapsed/refractory mantle cell lymphoma . 118 ● phase 1/2 solid tumor trial – we are currently enrolling a phase 1/2 clinical trial in relapsed/refractory gastric , bladder and non-small cell lung cancers assessing eprenetapopt with anti-pd-1 therapy . the dose-escalation phase of the trial enrolled 6 patients with advanced solid tumors and no dose-limiting toxicities were observed . based on these results , we are enrolling expansion cohorts for patients with advanced gastric , bladder and non-small cell lung cancers and have currently enrolled 8 patients across these expansion arms . our second product candidate , apr-548 , is a next generation p53 reactivator that is being developed in an oral dosage form . we have planned a phase 1 dose-escalation clinical trial evaluating safety , tolerability and preliminary efficacy of apr-548 with azacitidine in frontline and relapsed/refractory mds patients . we anticipate the first patient to be enrolled early in the second quarter of 2021 . ​ aprea therapeutics ab , or aprea ab , was originally incorporated in 2002 and commenced principal operations in 2006. we incorporated aprea therapeutics , inc. ( the “ company ” ) in may 2019. in september 2019 we completed a corporate reorganization and , as a result , all of the issued and outstanding stock of aprea ab was exchanged for common stock , preferred stock or options , as applicable , of the company . as a result of such transactions , aprea ab became a wholly-owned subsidiary of the company . we have devoted substantially all of our resources to developing our product candidates , including eprenetapopt , building our intellectual property portfolio , business planning , raising capital and providing general and administrative support for these operations . to date , we have financed our operations through private placements of preferred stock and the net proceeds received from the initial public offering ( ipo ) of our common stock . through december 31 , 2020 , we had received net proceeds of approximately $ 223.9 million from our sales of preferred and common stock . since our inception , we have incurred significant losses on an aggregate basis . our ability to generate product revenue sufficient to achieve profitability will depend on the successful development and eventual commercialization of one or more of our product candidates . our net losses were $ 53.5 million , $ 28.1 million and $ 15.5 million for the years ended december 31 , 2020 , 2019 and 2018 , respectively . as of december 31 , 2020 , we had an accumulated deficit of $ 144.0 million . these losses have resulted primarily from costs incurred in connection with research and development activities , patent investment , and general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years . we anticipate that our expenses will increase substantially if and as we : ● conduct our current and future clinical trials and additional preclinical research of eprenetapopt ; ● initiate and continue research and preclinical and clinical development of our other product candidates ; ● seek to identify and develop additional product candidates ; ● seek marketing approvals for any of our product candidates that successfully complete clinical trials , if any ; ● establish a sales , marketing , manufacturing and distribution infrastructure to commercialize any products for which we may obtain marketing approval ; ● require the manufacture of larger quantities of our product candidates for clinical development and potentially commercialization ; ● maintain , expand , protect and enforce our intellectual property portfolio ; ● acquire or in-license other drugs and technologies ; ● defend against any claims of infringement , misappropriation or other violation of third-party intellectual property ; 119 ● hire and retain additional clinical , quality control and scientific personnel ; and ● add operational , financial and management information systems and personnel , including personnel to support our drug development , any future commercialization efforts and our transition to a public company . furthermore , if we obtain marketing approval for any of our product candidates , we expect to incur significant commercialization expenses related to product manufacturing , marketing , sales and distribution . as a result , we will need additional financing to support our continuing operations . until such time as we can generate significant revenue from product sales , if ever , we expect to finance our operations through a combination of public or private equity or debt financings or other sources , which may include collaborations with third parties . we may be unable to raise additional funds or enter into other agreements or arrangements when needed on favorable terms , or at all . if we fail to raise capital or enter into such agreements as and when needed , we may have to significantly delay , scale back or discontinue the development or commercialization of one or more of our product candidates . because of the numerous risks and uncertainties associated with product development , we are unable to predict the timing or amount of increased expenses or when or if we will be able to achieve or maintain profitability . even if we are able to generate revenue from product sales , we may not become profitable . story_separator_special_tag we apply the straight-line method of expense recognition to all awards with only service-based vesting conditions and apply the graded-vesting method to all awards with performance-based vesting conditions or to awards with both service-based and performance-based vesting conditions . for stock-based awards granted to non-employees , compensation expense is recognized over the period during which services are rendered by such non-employees until completed in accordance with the fasb issued asu no . 2018-07 , compensation-stock compensation ( topic 718 ) : improvements to nonemployee share-based payment accounting . the new standard largely aligns the accounting for share-based payment awards issued to employees and nonemployees by expanding the scope of asc 718 to apply to nonemployee share-based transactions , as long as the transaction is not effectively a form of financing . we estimate the fair value of each stock option grant on the date of grant using the black-scholes option-pricing model , which uses as inputs the fair value of our common stock and assumptions we make for the volatility of our common stock , the expected term of our stock options , the risk-free interest rate for a period that approximates the expected term of our stock options and our expected dividend yield . determination of fair value of common stock as a privately held company ( through october 2 , 2019 ) , there had been no public market for our common stock , the estimated fair value of our common stock had been determined by our board of directors as of the date of each option grant , with input from management , considering our most recently available third-party valuations of common stock and our board of directors ' assessment of additional objective and subjective factors that it believed were relevant and which 124 may have changed from the date of the most recent valuation through the date of the grant . these third-party valuations were performed in accordance with the guidance outlined in the american institute of certified public accountants ' accounting and valuation guide , valuation of privately-held-company equity securities issued as compensation . our common stock valuations were prepared using a hybrid method , which used market approaches to estimate our enterprise value . the hybrid method is a probability-weighed expected return method , or pwerm , where the equity value in one or more scenarios is calculated using an option-pricing method , or opm . the opm treats common stock and preferred stock as call options on the total equity value of a company , with exercise prices based on the value thresholds at which the allocation among the various holders of a company 's securities changes . under this method , the common stock has value only if the funds available for distribution to stockholders exceeded the value of the preferred stock liquidation preference at the time of the liquidity event , such as a strategic sale or a merger . the pwerm is a scenario-based methodology that estimates the fair value of common stock based upon an analysis of future values for the company , assuming various outcomes . the common stock value is based on the probability-weighted present value of expected future investment returns considering each of the possible outcomes available as well as the rights of each class of stock . the future value of the common stock under each outcome is discounted back to the valuation date at an appropriate risk-adjusted discount rate and probability weighted to arrive at an indication of value for the common stock . these third-party valuations were performed at various dates , which resulted in valuations of our common stock of $ 0.92 per share as of may 31 , 2016 , $ 1.01 per share as of october 2 , 2017 , $ 3.18 per share as of december 31 , 2018 and $ 10.95 per share as of july 15 , 2019. in addition to considering the results of these third-party valuations , our board of directors considered various objective and subjective factors to determine the fair value of our common stock as of each grant date , including : ● the prices at which we sold shares of preferred stock and the superior rights and preferences of the preferred stock relative to our common stock at the time of each grant ; ● the progress of our research and development programs , including the status and results of preclinical studies and clinical trials for our product candidates ; ● our stage of development and commercialization and our business strategy ; ● external market conditions affecting the biopharmaceutical industry and trends within the biopharmaceutical industry ; ● our financial position , including cash on hand , and our historical and forecasted performance and operating results ; ● the lack of an active public market for our common stock and our preferred stock ; ● the likelihood of achieving a liquidity event , such as an initial public offering , or ipo , or sale of our company in light of prevailing market conditions ; and ● the analysis of ipos and the market performance of similar companies in the biopharmaceutical industry . the assumptions underlying these valuations represented management 's best estimate , which involved inherent uncertainties and the application of management 's judgment . as a result , if we had used significantly different assumptions or estimates , the fair value of our common stock and our stock-based compensation expense could have been materially different . emerging growth company and smaller reporting company status we are an emerging growth company ( egc ) , as defined in the jobs act . under this act , emerging growth companies are permitted to delay adopting new or revised accounting standards applicable to public companies until those standards would otherwise apply to private companies . we have irrevocably elected not to avail ourselves of this exemption from 125 new or revised accounting standards and , therefore , will be subject to the same

