we are pursuing an integrated therapeutic and diagnostic , or rx/dx , strategy , where we anticipate pairing each of our product candidates with biomarker-based companion diagnostics that are designed to identify the patients who are most likely to benefit from the precisely targeted drugs we develop . our current development plans focus on two product candidates : entrectinib , formerly called rxdx-101 , a tyrosine kinase inhibitor directed to the trk family tyrosine kinase receptors ( trka , trkb and trkc ) , ros1 and alk proteins , which is in two phase i/ii clinical studies in molecularly defined patient populations for the treatment of solid tumors ; and rxdx-103 , a development program targeting the cell division cycle 7-related , or cdc7 , protein kinase . 50 we acquired exclusive global development and marketing rights to entrectinib under a license agreement with nerviano medical sciences s.r.l . , or nms , that became effective in november 2013 , and we acquired exclusive global development and marketing rights to rxdx-103 under a license agreement with nms that became effective in august 2014. we are also pursuing our spark discovery-stage programs , directed to emerging oncology targets . since inception , our operations have focused on organizing and staffing our company , business planning , raising capital , assembling our core capabilities in genetic and epigenetic based biomarker and drug target discovery , identifying potential product candidates and developing such candidates . our product candidate development operations include preparing , managing and conducting preclinical and clinical studies and trials , preparing regulatory submissions relating to those product candidates and establishing and managing relationships with third parties in connection with all of those activities . we expect that in the future our operations may also , if regulatory approval is obtained , include pursuing the commercialization of our product candidates . financial operations overview revenue to date , we have not generated any material revenue from product sales or otherwise . in the future , we expect that we will seek to generate revenue primarily from product sales , but may also seek to generate revenue from research funding , milestone payments and royalties on future product sales in connection with any out-license or other strategic relationships we may establish . research and development expenses research and development expenses consist primarily of costs incurred for our research activities , including our drug and biomarker discovery efforts and the development of our product candidates , which include : license fees ; expenses incurred under agreements with third parties , including consultants and advisors we engage for research-related services and any contract research organizations , or cros , that we may engage in connection with conducting preclinical and clinical activities on our behalf ; employee-related expenses , including salaries , benefits and stock-based compensation expense ; the cost of laboratory supplies ; and facilities , depreciation , and other expenses , which include direct and allocated expenses for rent and maintenance of facilities , insurance and other operating costs . research and development costs are expensed as incurred . nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized . the capitalized amounts are expensed as the related goods are delivered or the services are performed . we have not yet begun tracking our internal and external research and development costs on a program-by-program basis . as such , we do not have historical research and development expenditures by program and we use our employee and infrastructure resources across multiple research and development programs . the following table sets forth our research and development expenses for the periods presented : replace_table_token_2_th research and development activities are central to our business model . our research and development programs that we expect will be our focus in the immediate future consist of the development of entrectinib and rxdx-103 , and drug discovery activities for the development of our spark discovery programs . all of those research and development programs are in the early stage , and since product candidates in later stages of clinical development generally have higher development costs than those in earlier stages of clinical development , primarily due to the increased size and duration of later-stage clinical trials , we expect research and development costs relating to each of those programs to increase significantly for the foreseeable future . however , the successful 51 development of any of those product candidates , or any others we may seek to pursue , is highly uncertain . as such , at this time , we can not reasonably estimate or know the nature , timing and estimated costs of the efforts that will be necessary to complete the remainder of the development of these product candidates , or whether any of these product candidates will reach successful commercialization . we are also unable to predict when , if ever , any net cash inflows will commence from any of the product candidates we currently or may in the future pursue . this lack of predictability is due to the numerous risks and uncertainties associated with developing medicines , many of which , such as our ability to obtain approvals to market and sell those medicines from the fda and other applicable regulatory authorities , are beyond our control , including the uncertainty of : establishing an appropriate safety profile with toxicology studies adequate to submit to the fda in an investigational new drug application , or ind , or comparable applications to foreign regulatory authorities ; successful enrollment in and adequate design and completion of clinical trials ; receipt of marketing approvals from applicable regulatory authorities , including the fda and comparable foreign authorities ; establishing commercial manufacturing capabilities or , more likely , seeking to establish arrangements with third-party manufacturers ; obtaining and maintaining patent and trade secret protection and regulatory exclusivity for our product candidates ; launching commercial story_separator_special_tag our future capital requirements will depend on many factors , including : the scope , progress , results and costs of drug discovery , preclinical development , laboratory testing and clinical trials for our product candidates ; the scope , progress , results and costs of companion diagnostic development for our product candidates ; the achievement of development milestones that trigger payments due to our licensing partners ; the extent to which we acquire or in-license other medicines , biomarkers and or technologies ; the costs , timing and outcome of regulatory review of our product candidates ; the costs of future commercialization activities , including product sales , marketing , manufacturing and distribution , for any of our product candidates for which we receive marketing approval ( to the extent that such sales , marketing , manufacturing and distribution are not the responsibility of collaborators with whom we may engage ) ; revenue , if any , received from commercial sales of our product candidates , should any of our product candidates receive marketing approval ; the costs of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending intellectual property-related claims ; and 57 our ability to establish and maintain development , manufacturing or commercial collaborations on favorable terms , if at all . identifying potential product candidates and conducting preclinical testing and clinical trials is a time-consuming , expensive and uncertain process that takes years to complete , and we may never generate the necessary data or results required to obtain marketing approval and achieve product sales . in addition , our product candidates , if approved , may not achieve commercial success . our commercial revenues , if any , will be derived from sales of medicines that we do not expect to be commercially available for many years , if at all . accordingly , we will likely need to continue to rely on additional financing to achieve our business objectives . adequate additional financing may not be available to us on acceptable terms , or at all . until such time , if ever , as we can generate substantial product revenues , we expect to finance our cash needs through a combination of equity offerings , debt financings , collaborations , strategic alliances and licensing arrangements . any or all of those sources of funding may not be available when needed on acceptable terms or at all . except for our conditional option to acquire a second loan tranche of $ 10 million from svb , we do not have any committed external source of additional funds . to the extent that additional capital is raised through the sale of equity or convertible debt securities , the ownership interest of existing equityholders will be diluted . also , the terms of any additional equity securities that may be issued in the future may include liquidation or other preferences that adversely affect the rights of common stockholders . debt financing may not be available when needed and 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 . if we raise funds through collaborations , strategic alliances or licensing arrangements with third parties , we may have to relinquish valuable rights to our technologies , future revenue streams , research programs or product candidates or to grant licenses on terms that may not be favorable to us . if we are unable to raise additional funds through equity or debt financings or relationships with third parties when needed or on acceptable terms , we may be required to delay , limit , reduce or terminate our product development or future commercialization efforts or grant rights to develop and market product candidates that we might otherwise prefer to develop and market ourselves . failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern . off-balance sheet arrangements we did not have during the periods presented , and we do not currently have , any off-balance sheet arrangements , as defined under applicable sec rules . item 8. financial statements and supplementary data our consolidated financial statements and the reports of our independent registered public accounting firm are included in this report on pages f-1 through f-23 . item 9. changes in and disagreements with accountants on accounting and financial disclosure none . item 9a . controls and procedures conclusions regarding the effectiveness of disclosure controls and procedures we maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our exchange act reports is recorded , processed , summarized and reported within the timelines specified in the sec 's rules and forms , and that such information is accumulated and communicated to our management , including our chief executive officer and chief financial officer , as appropriate , to allow timely decisions regarding required disclosure . in designing and evaluating the disclosure controls and procedures , management recognized that any controls and procedures , no matter how well designed and operated , can only provide reasonable assurance of achieving the desired control objectives , and in reaching a reasonable level of assurance , management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures . as required by rule 13a-15 ( b ) under the exchange act , we carried out an evaluation , under the supervision and with the participation of our management , including our chief executive officer and chief financial officer , of the effectiveness of the design and operation of our disclosure controls and procedures , as of the end of the period covered by this report . based on the foregoing , our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective as of december 31 , 2014

liquidity and capital resources sources of liquidity since our inception , and through december 31 , 2014 , we have raised an aggregate of approximately $ 146 million to fund our operations , of which approximately $ 21 million was received from the incurrence of indebtedness under our september 2014 loan agreement with svb ( with approximately $ 11 million of such amount used to repay our then-existing loan with svb ) , $ 55 million was received from our issuance and sale of our common stock in an underwritten public offering in march 2014 , approximately $ 54 million was received from our issuance and sale of our common stock in two private placements in november 2013 , approximately $ 6 million was received from our issuance and sale of our preferred stock and $ 10 million was received from the incurrence of indebtedness under our december 2013 loan agreement with svb . as of december 31 , 2014 , we had also received a small amount of funding from our issuance of common stock upon the exercise from time to time of stock options , and from our issuance of common stock to our founders in august and september 2011. as of december 31 , 2014 , we had approximately $ 76.6 million in cash , cash equivalents and available-for-sale securities , consisting of approximately $ 6.3 million in cash and cash equivalents and approximately $ 70.3 million in available-for-sale securities . amended and restated loan agreement with svb . on september 30 , 2014 , we entered into an amended and restated loan agreement with svb under which we incurred $ 21 million of indebtedness , approximately $ 11 million of which was used to repay our then- 55 existing loan with svb . we also have an option to receive an additional $ 10 million loan tranche , which may be drawn down by us at any time prior to september 30 , 2015 , provided that we have initiated the phase iia portion of our ongoing , global phase i/ii clinical study of entrectinib and subject to other customary conditions for funding .


 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 sources of liquidity since our inception , and through december 31 , 2014 , we have raised an aggregate of approximately $ 146 million to fund our operations , of which approximately $ 21 million was received from the incurrence of indebtedness under our september 2014 loan agreement with svb ( with approximately $ 11 million of such amount used to repay our then-existing loan with svb ) , $ 55 million was received from our issuance and sale of our common stock in an underwritten public offering in march 2014 , approximately $ 54 million was received from our issuance and sale of our common stock in two private placements in november 2013 , approximately $ 6 million was received from our issuance and sale of our preferred stock and $ 10 million was received from the incurrence of indebtedness under our december 2013 loan agreement with svb . as of december 31 , 2014 , we had also received a small amount of funding from our issuance of common stock upon the exercise from time to time of stock options , and from our issuance of common stock to our founders in august and september 2011. as of december 31 , 2014 , we had approximately $ 76.6 million in cash , cash equivalents and available-for-sale securities , consisting of approximately $ 6.3 million in cash and cash equivalents and approximately $ 70.3 million in available-for-sale securities . amended and restated loan agreement with svb . on september 30 , 2014 , we entered into an amended and restated loan agreement with svb under which we incurred $ 21 million of indebtedness , approximately $ 11 million of which was used to repay our then- 55 existing loan with svb . we also have an option to receive an additional $ 10 million loan tranche , which may be drawn down by us at any time prior to september 30 , 2015 , provided that we have initiated the phase iia portion of our ongoing , global phase i/ii clinical study of entrectinib and subject to other customary conditions for funding .
```    
 Suspicious Activity Report : we are pursuing an integrated therapeutic and diagnostic , or rx/dx , strategy , where we anticipate pairing each of our product candidates with biomarker-based companion diagnostics that are designed to identify the patients who are most likely to benefit from the precisely targeted drugs we develop . our current development plans focus on two product candidates : entrectinib , formerly called rxdx-101 , a tyrosine kinase inhibitor directed to the trk family tyrosine kinase receptors ( trka , trkb and trkc ) , ros1 and alk proteins , which is in two phase i/ii clinical studies in molecularly defined patient populations for the treatment of solid tumors ; and rxdx-103 , a development program targeting the cell division cycle 7-related , or cdc7 , protein kinase . 50 we acquired exclusive global development and marketing rights to entrectinib under a license agreement with nerviano medical sciences s.r.l . , or nms , that became effective in november 2013 , and we acquired exclusive global development and marketing rights to rxdx-103 under a license agreement with nms that became effective in august 2014. we are also pursuing our spark discovery-stage programs , directed to emerging oncology targets . since inception , our operations have focused on organizing and staffing our company , business planning , raising capital , assembling our core capabilities in genetic and epigenetic based biomarker and drug target discovery , identifying potential product candidates and developing such candidates . our product candidate development operations include preparing , managing and conducting preclinical and clinical studies and trials , preparing regulatory submissions relating to those product candidates and establishing and managing relationships with third parties in connection with all of those activities . we expect that in the future our operations may also , if regulatory approval is obtained , include pursuing the commercialization of our product candidates . financial operations overview revenue to date , we have not generated any material revenue from product sales or otherwise . in the future , we expect that we will seek to generate revenue primarily from product sales , but may also seek to generate revenue from research funding , milestone payments and royalties on future product sales in connection with any out-license or other strategic relationships we may establish . research and development expenses research and development expenses consist primarily of costs incurred for our research activities , including our drug and biomarker discovery efforts and the development of our product candidates , which include : license fees ; expenses incurred under agreements with third parties , including consultants and advisors we engage for research-related services and any contract research organizations , or cros , that we may engage in connection with conducting preclinical and clinical activities on our behalf ; employee-related expenses , including salaries , benefits and stock-based compensation expense ; the cost of laboratory supplies ; and facilities , depreciation , and other expenses , which include direct and allocated expenses for rent and maintenance of facilities , insurance and other operating costs . research and development costs are expensed as incurred . nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized . the capitalized amounts are expensed as the related goods are delivered or the services are performed . we have not yet begun tracking our internal and external research and development costs on a program-by-program basis . as such , we do not have historical research and development expenditures by program and we use our employee and infrastructure resources across multiple research and development programs . the following table sets forth our research and development expenses for the periods presented : replace_table_token_2_th research and development activities are central to our business model . our research and development programs that we expect will be our focus in the immediate future consist of the development of entrectinib and rxdx-103 , and drug discovery activities for the development of our spark discovery programs . all of those research and development programs are in the early stage , and since product candidates in later stages of clinical development generally have higher development costs than those in earlier stages of clinical development , primarily due to the increased size and duration of later-stage clinical trials , we expect research and development costs relating to each of those programs to increase significantly for the foreseeable future . however , the successful 51 development of any of those product candidates , or any others we may seek to pursue , is highly uncertain . as such , at this time , we can not reasonably estimate or know the nature , timing and estimated costs of the efforts that will be necessary to complete the remainder of the development of these product candidates , or whether any of these product candidates will reach successful commercialization . we are also unable to predict when , if ever , any net cash inflows will commence from any of the product candidates we currently or may in the future pursue . this lack of predictability is due to the numerous risks and uncertainties associated with developing medicines , many of which , such as our ability to obtain approvals to market and sell those medicines from the fda and other applicable regulatory authorities , are beyond our control , including the uncertainty of : establishing an appropriate safety profile with toxicology studies adequate to submit to the fda in an investigational new drug application , or ind , or comparable applications to foreign regulatory authorities ; successful enrollment in and adequate design and completion of clinical trials ; receipt of marketing approvals from applicable regulatory authorities , including the fda and comparable foreign authorities ; establishing commercial manufacturing capabilities or , more likely , seeking to establish arrangements with third-party manufacturers ; obtaining and maintaining patent and trade secret protection and regulatory exclusivity for our product candidates ; launching commercial story_separator_special_tag our future capital requirements will depend on many factors , including : the scope , progress , results and costs of drug discovery , preclinical development , laboratory testing and clinical trials for our product candidates ; the scope , progress , results and costs of companion diagnostic development for our product candidates ; the achievement of development milestones that trigger payments due to our licensing partners ; the extent to which we acquire or in-license other medicines , biomarkers and or technologies ; the costs , timing and outcome of regulatory review of our product candidates ; the costs of future commercialization activities , including product sales , marketing , manufacturing and distribution , for any of our product candidates for which we receive marketing approval ( to the extent that such sales , marketing , manufacturing and distribution are not the responsibility of collaborators with whom we may engage ) ; revenue , if any , received from commercial sales of our product candidates , should any of our product candidates receive marketing approval ; the costs of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending intellectual property-related claims ; and 57 our ability to establish and maintain development , manufacturing or commercial collaborations on favorable terms , if at all . identifying potential product candidates and conducting preclinical testing and clinical trials is a time-consuming , expensive and uncertain process that takes years to complete , and we may never generate the necessary data or results required to obtain marketing approval and achieve product sales . in addition , our product candidates , if approved , may not achieve commercial success . our commercial revenues , if any , will be derived from sales of medicines that we do not expect to be commercially available for many years , if at all . accordingly , we will likely need to continue to rely on additional financing to achieve our business objectives . adequate additional financing may not be available to us on acceptable terms , or at all . until such time , if ever , as we can generate substantial product revenues , we expect to finance our cash needs through a combination of equity offerings , debt financings , collaborations , strategic alliances and licensing arrangements . any or all of those sources of funding may not be available when needed on acceptable terms or at all . except for our conditional option to acquire a second loan tranche of $ 10 million from svb , we do not have any committed external source of additional funds . to the extent that additional capital is raised through the sale of equity or convertible debt securities , the ownership interest of existing equityholders will be diluted . also , the terms of any additional equity securities that may be issued in the future may include liquidation or other preferences that adversely affect the rights of common stockholders . debt financing may not be available when needed and 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 . if we raise funds through collaborations , strategic alliances or licensing arrangements with third parties , we may have to relinquish valuable rights to our technologies , future revenue streams , research programs or product candidates or to grant licenses on terms that may not be favorable to us . if we are unable to raise additional funds through equity or debt financings or relationships with third parties when needed or on acceptable terms , we may be required to delay , limit , reduce or terminate our product development or future commercialization efforts or grant rights to develop and market product candidates that we might otherwise prefer to develop and market ourselves . failure to obtain adequate financing could eventually adversely affect our ability to operate as a going concern . off-balance sheet arrangements we did not have during the periods presented , and we do not currently have , any off-balance sheet arrangements , as defined under applicable sec rules . item 8. financial statements and supplementary data our consolidated financial statements and the reports of our independent registered public accounting firm are included in this report on pages f-1 through f-23 . item 9. changes in and disagreements with accountants on accounting and financial disclosure none . item 9a . controls and procedures conclusions regarding the effectiveness of disclosure controls and procedures we maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our exchange act reports is recorded , processed , summarized and reported within the timelines specified in the sec 's rules and forms , and that such information is accumulated and communicated to our management , including our chief executive officer and chief financial officer , as appropriate , to allow timely decisions regarding required disclosure . in designing and evaluating the disclosure controls and procedures , management recognized that any controls and procedures , no matter how well designed and operated , can only provide reasonable assurance of achieving the desired control objectives , and in reaching a reasonable level of assurance , management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures . as required by rule 13a-15 ( b ) under the exchange act , we carried out an evaluation , under the supervision and with the participation of our management , including our chief executive officer and chief financial officer , of the effectiveness of the design and operation of our disclosure controls and procedures , as of the end of the period covered by this report . based on the foregoing , our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective as of december 31 , 2014

