s ince simufilam has a unique mechanism of action , we believe its potential therapeutic effects may be additive or synergistic with that of other therapeutic candidates aiming to treat neurodegeneration . ﻿ simufilam has demonstrated a multitude of beneficial effects in animal models of disease , including normalizing neurotransmission , decreasing neuroinflammation , suppressing neurodegeneration , and restoring memory and cognition . ﻿ in 2019 , we completed a small , first-in-patient , clinical-proof-of-concept , open-label phase 2a study of simufilam in the u.s. , with substantial support from the national institute on aging ( nia ) , a division of the nih . treatment with simufilam for 28 days significantly improved key biomarkers of alzheimer 's pathology , neurodegeneration and neuroinflammation ( p < 0.001 ) . biomarkers effects were seen in all patients in both cerebrospinal fluid ( csf ) and plasma . ﻿ in september 202 0 , we announced final results of a phase 2b study with simufilam in alzheimer 's disease . in this clinical study funded by the nih , alzheimer 's patients treated with 50 mg or 100 mg of simufilam twice-daily for 28 days showed statistically significant ( p < 0.05 ) improvements in csf biomarkers of disease pathology , neurodegeneration and neuroinflammation , versus alzheimer 's patients who took placebo . in addition , alzheimer 's patients treated with simufilam showed improvements in validated tests of episodic memory and spatial working memory , versus patients on placebo ( effect size 17-46 % ) . cognitive improvements correlated most strongly ( r 2 =0.5 ) with decreases in levels of p-tau181 . ﻿ in march 202 0 , we initiated a long-term open-label extension study to evaluate simufilam in patients with alzheimer 's disease . this open-label , multi-center , extension study is intended to monitor the long-term safety and tolerability of simufilam 100 mg twice-daily for 12 or more months . the study 's initial target enrollment was approximately 100 patients with m ild-to-moderate alzheimer 's disease and , in february 202 1 , was increased to approximately 150 patients . this study uses the alzheimer 's disease assessment scale-cognitive subscale ( adas-cog-11 ) to assess cognitive symptoms of 66 dementia and the neuropsychiatric inventory ( npi ) to assess the presence and severity of dementia-related behavior . both scales are widely used clinical tools in trials of alzheimer 's disease . ﻿ on february 2 , 2021 , we announced results of the first of two preplanned interim analysis of our open-label study of simufilam . th e first interim analysis summarizes clinical data at the midway point of enrollment , i.e . , the first 50 patients who have completed at least 6 months of drug treatment . patients ' cognition and behavior scores both improved following six months of simufilam treatment , with no safety issues . s ix months of simufilam treatment improved cognition scores by 1.6 points on adas-cog11 , a 10 % mean improvement from baseline to month 6. in these same patients , simufilam also improved dementia-related behavior , such as anxiety , delusions and agitation , by 1.3 points on the neuropsychiatric inventory , a 29 % mean improvement from baseline to month 6 . ﻿ based on the interim results and inbound demand from alzheimer 's patients and their caregivers , we announced significant changes to the open-label program , including an increase in the enrollment target by up to 50 additional patients , for a total target of approximately 150 patients . this study ha d enrolled approximately 80 patients as of february 202 1 . ﻿ we expect to announce results of a second planned interim analysis on safety and cognition for our open-label study approximately mid-2021 . the second interim analysis is intended to summarize clinical data on the first 50 patients who complete at least 12 months of open label drug treatment . ﻿ on february 22 , 2021 , we announced the successful completion of an end-of-phase 2 ( eop2 ) meeting with the fda for simufilam . official eop2 meeting minutes indicate we and the fda agree on key elements of a pivotal phase 3 clinical program in support of a new drug application ( nda ) filing for simufilam in alzheimer 's disease . we believe agreements reached during the eop2 meeting show a clear path forward for advancing simufilam into phase 3 studies . we expect to initiate a pivotal phase 3 program with simufilam in alzheimer 's disease in the second half of 2021 . ﻿ our diagnostic effort , called savadx , is an early-stage program focused on detecting the presence of alzheimer 's disease from a small sample of blood , possibly years before the overt appearance of clinical symptoms . we are developing savadx as a fast , accurate and quantitative blood-based investigational biomarker/diagnostic to detect and monitor alzheimer 's disease . t he goal is to make the detection of alzheimer 's disease as simple as getting a blood test . we expect to initiate a validation/disease specificity study of savadx in 2021 . ﻿ financial overview ﻿ we have yet to generate any revenues from product sales . we have an accumulated deficit of $ 174.9 million at december 31 , 2020. these losses have resulted principally from costs incurred in connection with research and development activities , salaries and other personnel-related costs and general corporate expenses . research and development activities include costs of preclinical and clinical studies as well as clinical supplies associated with our product candidates . salaries and other personnel-related costs include non-cash stock-based compensation associated with options and other equity awards granted to employees and non-employees . story_separator_special_tag the amendments in this update are effective for interim and annual periods for the company beginning on january 1 , 2020. the adoption of this guidance did not have a material impact on the company 's financial statements . ﻿ in august 201 8 , the fasb issued asu no . 201 8-13 , fair value measurement ( topic 820 ) - disclosure framework - changes to the disclosure requirements for fair value measurement ( asu 2018-13 ) , which is designed to improve the effectiveness of disclosures by removing , modifying and adding disclosures related to fair value measurements . asu 2018-13 is effective for fiscal years beginning after december 15 , 2019 , including interim periods within those fiscal years . the adoption of asu 2018-13 did not have a material impact on the company 's financial statements . ﻿ results of operations ﻿ research and development expense ﻿ research and development expense consist primarily of costs of drug development work associated with our product candidates , including : ﻿ · clinical studies , · preclinical testing , · clinical supplies and related formulation and design costs , and · compensation and other personnel-related expenses . ﻿ research and development expenses increased to $ 3.1 million in 2020 from $ 1.6 million in 2019 , representing a 95 % increase . this increase was due primarily to costs related to manufacture clinical trial supplies in anticipation of launching a phase 3 clinical prog ram in simufilam as well as lower nih reimbursement compared to the prior year . we received nih r eimbursement of $ 4 . 2 million from research grants in 20 20 recorded as a reduction to research and development expense , as compared to $ 4.7 million in 2019 . ﻿ research and development expenses included non-cash stock-based compensation expenses of $ 0.5 million in both 2020 and 2019 . ﻿ we expect research and development expense to increase in future periods as we plan to hire new personnel , manufacture drug supply , continue our development efforts and launch a phase 3 clinical program in simufilam . ﻿ 70 general and administrative expense ﻿ general and administrative expenses consist of personnel costs , allocated expenses and other expenses for outside professional services , including legal , human resources , audit and accounting services . personnel costs consist of salaries , bonus , benefits and stock-based compensation . allocated expenses consist primarily of facility costs . we incur expenses associated with operating as a public company , including expenses related to compliance with the rules and regulations of the sec and nasdaq , additional insurance expenses , additional audit expenses , investor relations activities , sox compliance expenses and other administrative expenses and professional services . general and administrative expense increased to $ 3.7 million in 2020 from $ 3.4 million in 2019 , representing a 10 % increase . the increase was due primarily to higher insurance expenses and professional fees compared to the prior year , partially offset by lower non-cash stock-based compensation expense . ﻿ general and administrative expenses included non-cash stock-based compensation expenses of $ 0.5 million in 2020 compared to $ 0.8 million in 2019. we expect general and administrative expense for 2021 will increase compared to 2020 due to higher operating costs such as insurance , office space and information technology related expenses . ﻿ gain on sale of property and equipment ﻿ during the year ended december 31 , 2020 , we sold surplus manufacturing equipment to an independent third party and received proceeds totaling $ 360,000. the original cost of the property and equipment was $ 892,000 and accumulated depreciation was $ 878,000 , resulting in a gain on sale of property and equipment of $ 346,000 during the year ended december 31 , 2020. there were no sales of property and equipment during the year ended december 31 , 2019 . ﻿ we do not expect any future gains on sales of property and equipment . ﻿ interest income ﻿ interest and other income , net , was $ 112,000 in 2020 compared to $ 328,000 in 2019. the decrease was due primarily to a significant decrease in interest rates in 2020 compared to the prior year . ﻿ story_separator_special_tag inline ; color : # 000000 ; font-size:10pt ; `` > million , with exact amounts to be determined by the compensation committee . ﻿ no actual cash payments were made to participants under the plan during the year ended december 31 , 2020 , or through the filing date of this form 10- k . ﻿ use of cash ﻿ net cash used in operating activities was $ 5.4 million for the year ended december 31 , 2020 , resulting primarily from the net loss reported of $ 6.3 million and a gain on sale of property and equipment of $ 0.3 million , partially offset by non-cash stock-based compensation expense of $ 1.0 million and changes in operating assets and liabilities of $ 0.3 million . 72 ﻿ net cash used in operating activities was $ 2.5 million for 2019 , resulting primarily from a $ 4.6 million net loss incurred partially offset by $ 1.3 million of non-cash stock-based compensation expense and $ 0.8 million from changes in operating assets and liabilities . ﻿ net cash provided by investing activities during the year ended december 31 , 2020 was $ 360,000 for proceeds received from the sale of property and equipment . net cash used in investing activities was $ 18,000 for 2019 from purchases of computer equipment . ﻿ net cash provided by financing activities during the year ended december 31 , 2020 was $ 75.4 million consisting of $ 70.3 million proceeds from our follow-on public offering of common stock in november 202 0 , $ 4.9 million proceeds from exercise of common stock warrants and $ 0.3 million from exercise of stock options . ﻿ net cash provided by

liquidity and capital resources ﻿ since inception , we have financed our operations primarily through public and private stock offerings , payments received under collaborative agreements and interest earned on our investments . we intend to continue to use our capital resources to fund research and development activities , capital expenditures , working capital requirements and other general corporate purposes . as of december 31 , 2020 , cash and cash equivalents totaled $ 93.5 million . ﻿ 2021 registered direct offering ﻿ on february 12 , 2021 , we completed a common stock offering pursuant to which certain investors purchased 4,081,633 shares of common stock at a price of $ 49.00 per share . net proceeds of the offering were approximately $ 189.7 million after deducting offering expenses . ﻿ 2020 follow-on public offering ﻿ on november 13 , 2020 , we completed the sale of 9,375,000 shares of our common stock in an underwritten public offering at a price of $ 8.00 per share . we received net proceeds from the offering of approximately $ 70 .3 million after deducting underwriting discounts and offering expenses . ﻿ common stock warrants ﻿ in august 201 8 , we issued warrants to purchase up to an aggregate of 9.1 million shares of its common stock in conjunction with an offering of our common stock . ﻿ during 2019 , we received proceeds of $ 5.9 million from the exercise of 4.6 million shares pursuant to warrants . during 2020 , we received proceeds of $ 4.9 million from the exercise of 4.0 million shares pursuant to warrants . during 2021 , we 71 received proceeds of $ 0.7 million from the exercise of an additional 0.6 million shares pursuant to warrants . there were no warrants outstanding following the 2021 exercises .


 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 financed our operations primarily through public and private stock offerings , payments received under collaborative agreements and interest earned on our investments . we intend to continue to use our capital resources to fund research and development activities , capital expenditures , working capital requirements and other general corporate purposes . as of december 31 , 2020 , cash and cash equivalents totaled $ 93.5 million . ﻿ 2021 registered direct offering ﻿ on february 12 , 2021 , we completed a common stock offering pursuant to which certain investors purchased 4,081,633 shares of common stock at a price of $ 49.00 per share . net proceeds of the offering were approximately $ 189.7 million after deducting offering expenses . ﻿ 2020 follow-on public offering ﻿ on november 13 , 2020 , we completed the sale of 9,375,000 shares of our common stock in an underwritten public offering at a price of $ 8.00 per share . we received net proceeds from the offering of approximately $ 70 .3 million after deducting underwriting discounts and offering expenses . ﻿ common stock warrants ﻿ in august 201 8 , we issued warrants to purchase up to an aggregate of 9.1 million shares of its common stock in conjunction with an offering of our common stock . ﻿ during 2019 , we received proceeds of $ 5.9 million from the exercise of 4.6 million shares pursuant to warrants . during 2020 , we received proceeds of $ 4.9 million from the exercise of 4.0 million shares pursuant to warrants . during 2021 , we 71 received proceeds of $ 0.7 million from the exercise of an additional 0.6 million shares pursuant to warrants . there were no warrants outstanding following the 2021 exercises .
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 Suspicious Activity Report : s ince simufilam has a unique mechanism of action , we believe its potential therapeutic effects may be additive or synergistic with that of other therapeutic candidates aiming to treat neurodegeneration . ﻿ simufilam has demonstrated a multitude of beneficial effects in animal models of disease , including normalizing neurotransmission , decreasing neuroinflammation , suppressing neurodegeneration , and restoring memory and cognition . ﻿ in 2019 , we completed a small , first-in-patient , clinical-proof-of-concept , open-label phase 2a study of simufilam in the u.s. , with substantial support from the national institute on aging ( nia ) , a division of the nih . treatment with simufilam for 28 days significantly improved key biomarkers of alzheimer 's pathology , neurodegeneration and neuroinflammation ( p < 0.001 ) . biomarkers effects were seen in all patients in both cerebrospinal fluid ( csf ) and plasma . ﻿ in september 202 0 , we announced final results of a phase 2b study with simufilam in alzheimer 's disease . in this clinical study funded by the nih , alzheimer 's patients treated with 50 mg or 100 mg of simufilam twice-daily for 28 days showed statistically significant ( p < 0.05 ) improvements in csf biomarkers of disease pathology , neurodegeneration and neuroinflammation , versus alzheimer 's patients who took placebo . in addition , alzheimer 's patients treated with simufilam showed improvements in validated tests of episodic memory and spatial working memory , versus patients on placebo ( effect size 17-46 % ) . cognitive improvements correlated most strongly ( r 2 =0.5 ) with decreases in levels of p-tau181 . ﻿ in march 202 0 , we initiated a long-term open-label extension study to evaluate simufilam in patients with alzheimer 's disease . this open-label , multi-center , extension study is intended to monitor the long-term safety and tolerability of simufilam 100 mg twice-daily for 12 or more months . the study 's initial target enrollment was approximately 100 patients with m ild-to-moderate alzheimer 's disease and , in february 202 1 , was increased to approximately 150 patients . this study uses the alzheimer 's disease assessment scale-cognitive subscale ( adas-cog-11 ) to assess cognitive symptoms of 66 dementia and the neuropsychiatric inventory ( npi ) to assess the presence and severity of dementia-related behavior . both scales are widely used clinical tools in trials of alzheimer 's disease . ﻿ on february 2 , 2021 , we announced results of the first of two preplanned interim analysis of our open-label study of simufilam . th e first interim analysis summarizes clinical data at the midway point of enrollment , i.e . , the first 50 patients who have completed at least 6 months of drug treatment . patients ' cognition and behavior scores both improved following six months of simufilam treatment , with no safety issues . s ix months of simufilam treatment improved cognition scores by 1.6 points on adas-cog11 , a 10 % mean improvement from baseline to month 6. in these same patients , simufilam also improved dementia-related behavior , such as anxiety , delusions and agitation , by 1.3 points on the neuropsychiatric inventory , a 29 % mean improvement from baseline to month 6 . ﻿ based on the interim results and inbound demand from alzheimer 's patients and their caregivers , we announced significant changes to the open-label program , including an increase in the enrollment target by up to 50 additional patients , for a total target of approximately 150 patients . this study ha d enrolled approximately 80 patients as of february 202 1 . ﻿ we expect to announce results of a second planned interim analysis on safety and cognition for our open-label study approximately mid-2021 . the second interim analysis is intended to summarize clinical data on the first 50 patients who complete at least 12 months of open label drug treatment . ﻿ on february 22 , 2021 , we announced the successful completion of an end-of-phase 2 ( eop2 ) meeting with the fda for simufilam . official eop2 meeting minutes indicate we and the fda agree on key elements of a pivotal phase 3 clinical program in support of a new drug application ( nda ) filing for simufilam in alzheimer 's disease . we believe agreements reached during the eop2 meeting show a clear path forward for advancing simufilam into phase 3 studies . we expect to initiate a pivotal phase 3 program with simufilam in alzheimer 's disease in the second half of 2021 . ﻿ our diagnostic effort , called savadx , is an early-stage program focused on detecting the presence of alzheimer 's disease from a small sample of blood , possibly years before the overt appearance of clinical symptoms . we are developing savadx as a fast , accurate and quantitative blood-based investigational biomarker/diagnostic to detect and monitor alzheimer 's disease . t he goal is to make the detection of alzheimer 's disease as simple as getting a blood test . we expect to initiate a validation/disease specificity study of savadx in 2021 . ﻿ financial overview ﻿ we have yet to generate any revenues from product sales . we have an accumulated deficit of $ 174.9 million at december 31 , 2020. these losses have resulted principally from costs incurred in connection with research and development activities , salaries and other personnel-related costs and general corporate expenses . research and development activities include costs of preclinical and clinical studies as well as clinical supplies associated with our product candidates . salaries and other personnel-related costs include non-cash stock-based compensation associated with options and other equity awards granted to employees and non-employees . story_separator_special_tag the amendments in this update are effective for interim and annual periods for the company beginning on january 1 , 2020. the adoption of this guidance did not have a material impact on the company 's financial statements . ﻿ in august 201 8 , the fasb issued asu no . 201 8-13 , fair value measurement ( topic 820 ) - disclosure framework - changes to the disclosure requirements for fair value measurement ( asu 2018-13 ) , which is designed to improve the effectiveness of disclosures by removing , modifying and adding disclosures related to fair value measurements . asu 2018-13 is effective for fiscal years beginning after december 15 , 2019 , including interim periods within those fiscal years . the adoption of asu 2018-13 did not have a material impact on the company 's financial statements . ﻿ results of operations ﻿ research and development expense ﻿ research and development expense consist primarily of costs of drug development work associated with our product candidates , including : ﻿ · clinical studies , · preclinical testing , · clinical supplies and related formulation and design costs , and · compensation and other personnel-related expenses . ﻿ research and development expenses increased to $ 3.1 million in 2020 from $ 1.6 million in 2019 , representing a 95 % increase . this increase was due primarily to costs related to manufacture clinical trial supplies in anticipation of launching a phase 3 clinical prog ram in simufilam as well as lower nih reimbursement compared to the prior year . we received nih r eimbursement of $ 4 . 2 million from research grants in 20 20 recorded as a reduction to research and development expense , as compared to $ 4.7 million in 2019 . ﻿ research and development expenses included non-cash stock-based compensation expenses of $ 0.5 million in both 2020 and 2019 . ﻿ we expect research and development expense to increase in future periods as we plan to hire new personnel , manufacture drug supply , continue our development efforts and launch a phase 3 clinical program in simufilam . ﻿ 70 general and administrative expense ﻿ general and administrative expenses consist of personnel costs , allocated expenses and other expenses for outside professional services , including legal , human resources , audit and accounting services . personnel costs consist of salaries , bonus , benefits and stock-based compensation . allocated expenses consist primarily of facility costs . we incur expenses associated with operating as a public company , including expenses related to compliance with the rules and regulations of the sec and nasdaq , additional insurance expenses , additional audit expenses , investor relations activities , sox compliance expenses and other administrative expenses and professional services . general and administrative expense increased to $ 3.7 million in 2020 from $ 3.4 million in 2019 , representing a 10 % increase . the increase was due primarily to higher insurance expenses and professional fees compared to the prior year , partially offset by lower non-cash stock-based compensation expense . ﻿ general and administrative expenses included non-cash stock-based compensation expenses of $ 0.5 million in 2020 compared to $ 0.8 million in 2019. we expect general and administrative expense for 2021 will increase compared to 2020 due to higher operating costs such as insurance , office space and information technology related expenses . ﻿ gain on sale of property and equipment ﻿ during the year ended december 31 , 2020 , we sold surplus manufacturing equipment to an independent third party and received proceeds totaling $ 360,000. the original cost of the property and equipment was $ 892,000 and accumulated depreciation was $ 878,000 , resulting in a gain on sale of property and equipment of $ 346,000 during the year ended december 31 , 2020. there were no sales of property and equipment during the year ended december 31 , 2019 . ﻿ we do not expect any future gains on sales of property and equipment . ﻿ interest income ﻿ interest and other income , net , was $ 112,000 in 2020 compared to $ 328,000 in 2019. the decrease was due primarily to a significant decrease in interest rates in 2020 compared to the prior year . ﻿ story_separator_special_tag inline ; color : # 000000 ; font-size:10pt ; `` > million , with exact amounts to be determined by the compensation committee . ﻿ no actual cash payments were made to participants under the plan during the year ended december 31 , 2020 , or through the filing date of this form 10- k . ﻿ use of cash ﻿ net cash used in operating activities was $ 5.4 million for the year ended december 31 , 2020 , resulting primarily from the net loss reported of $ 6.3 million and a gain on sale of property and equipment of $ 0.3 million , partially offset by non-cash stock-based compensation expense of $ 1.0 million and changes in operating assets and liabilities of $ 0.3 million . 72 ﻿ net cash used in operating activities was $ 2.5 million for 2019 , resulting primarily from a $ 4.6 million net loss incurred partially offset by $ 1.3 million of non-cash stock-based compensation expense and $ 0.8 million from changes in operating assets and liabilities . ﻿ net cash provided by investing activities during the year ended december 31 , 2020 was $ 360,000 for proceeds received from the sale of property and equipment . net cash used in investing activities was $ 18,000 for 2019 from purchases of computer equipment . ﻿ net cash provided by financing activities during the year ended december 31 , 2020 was $ 75.4 million consisting of $ 70.3 million proceeds from our follow-on public offering of common stock in november 202 0 , $ 4.9 million proceeds from exercise of common stock warrants and $ 0.3 million from exercise of stock options . ﻿ net cash provided by

