the fda has granted qualified infectious disease product ( qidp ) and fast track designations to ibrexafungerp for the indications of vvc ( including the treatment of vvc episodes and the prevention of recurrent vvc ) , invasive candidiasis ( ic ) ( including candidemia ) , and invasive aspergillosis ( ia ) , and has granted orphan drug designations for the ic and ia indications . these designations may provide us with additional market exclusivity and expedited regulatory paths . ibrexafungerp update we recently announced that the fda has accepted for filing our nda for ibrexafungerp for the treatment of vvc , also known as vaginal yeast infections . the fda has granted this application priority review , a designation which is granted to applications for potential drugs that , if approved , would be significant improvements in the safety or effectiveness of the treatment of serious conditions when compared to standard applications . under the pdufa , the fda has set a target action date of june 1 , 2021. additionally , the fda has communicated that it is not currently planning to hold an advisory committee meeting to discuss the application . the nda is supported by positive results from two phase 3 , randomized , double-blind , placebo-controlled , multi-center studies ( vanish-303 and vanish-306 ) , in which oral ibrexafungerp demonstrated statistically superior efficacy and a favorable tolerability profile in women with vvc . enrollment is complete in the candle study , a phase 3 , multi-center , randomized , double-blind , placebo-controlled trial designed to evaluate the efficacy and safety of oral ibrexafungerp for the prevention of recurrent vvc , for which there is no approved therapy in the u.s. as a result of the covid-19 pandemic , our timelines for reaching our targeted enrollment size in the candle study were slightly extended and we now anticipate both top-line data and a potential supplemental nda submission for the prevention of recurrent vvc in the first half of 2022 , resulting in a potential approval in late 2022. enrollment is ongoing in our refractory invasive fungal infections ( rifi ) program , which comprises two open-label phase 3 studies ( furi and cares ) designed to support a potential future nda submission through the limited population pathway for antibacterial and antifungal drugs ( lpad ) , as well as our phase 2 study ( scynergia study ) of oral ibrexafungerp in combination with voriconazole ( soc ) in patients with ia . similar to interim analyses of data previously reported , we intend to analyze the data of patients that have completed the treatment course in our furi and cares studies and announce these findings when complete . 41 we have successfully completed preclinical testing of our liposomal iv formulation of ibrexafungerp and we are advancing the program into human trials in healthy volunteers . the first trial is being conducted as a phase 1 , randomized , double-blind , placebo-controlled study to evaluate the safety , tolerability , and pharmacokinetics of the iv liposomal formulation of ibrexafungerp in healthy subjects . the study is being conducted in south africa and dosing started in march 2021. corporate update on december 2 , 2020 , we amended our license agreement with merck sharp & dohme corp. ( merck ) , dated may 24 , 2013. the amendment eliminates two cash milestone payments that we would have paid to merck upon the first filing of a nda , triggered by the fda acceptance for filing of our nda for ibrexafungerp for the treatment of vvc , and first marketing approval in the u.s. , anticipated in june 2021 for our nda for ibrexafungerp for the treatment of vvc . such cash milestone payments would have been creditable against future royalties owed to merck on net sales of ibrexafungerp . with the amendment , these milestones will not be paid in cash and , accordingly , credits will not accrue . pursuant to the amendment , we will also forfeit the credits against future royalties that it had accrued from a prior milestone payment already paid to merck . all other key terms of the license agreement are unchanged . on december 17 , 2020 , we completed a public offering ( the december 2020 public offering ) of our common stock and warrants pursuant to our effective shelf registration . we sold an aggregate of ( a ) 8,340,000 shares of our common stock , par value $ 0.001 per share , ( b ) pre-funded warrants , in lieu of common stock , to purchase 5,260,000 shares of our common stock , par value $ 0.001 per share , and ( c ) two series of warrants , which will accompany the common stock or pre-funded warrants , to purchase up to an aggregate of 13,600,000 shares of our common stock and received approximately $ 79.5 million in net proceeds . in february 2021 , we partnered with amplity inc. ( amplity ) for the potential upcoming commercial launch of ibrexafungerp for the treatment of vvc . under the terms of the 5-year agreement , we will utilize amplity 's commercial execution expertise and resources for sales force , remote engagement , training , market access and select operations services . we will maintain full ownership of ibrexafungerp and control of all strategic aspects of the launch . amplity is deferring a portion of its direct service costs in the first two years ( 2021 and 2022 ) , which we will repay over three years starting in 2023. amplity has the potential to earn a performance-based success fee in the 2023-2025 time frame by exceeding certain revenue targets . story_separator_special_tag additionally , pursuant to the note purchase agreement , we issued and sold to puissance $ 16.0 million aggregate principal amount of our march 2019 notes , resulting in $ 14.7 million in net proceeds after deducting an advisory fee and other issuance costs , and we used the net proceeds to pay the remaining outstanding solar term loan in full . as part of the payment of the outstanding balance of the solar term loan , we paid $ 0.8 million in debt extinguishment costs which comprised the remaining unamortized discount and issuance costs associated with the solar term loan prior to repayment . future funding requirements to date , we have not generated any revenue from product sales . we do not know when , or if , we will generate any revenue from product sales . we do not expect to generate significant revenue from product sales unless and until we obtain regulatory approval of and commercialize ibrexafungerp . in addition , we expect to incur expenses in connection with our ongoing development activities , particularly as we continue the research , development and clinical trials of , and seek regulatory approval for , our product candidates . we anticipate that we will need substantial additional funding in connection with our continuing future operations . based upon our existing operating plan , we believe that our existing cash and cash equivalents , the sale of a portion of our new jersey nols , the upfront payment from hansoh , and anticipated sales of brexafemme will enable us to fund our operating requirements into 2023. these funds will also be sufficient to enable us to commercially launch brexafemme for the treatment of vaginal yeast infections , if approved , and complete the development activities for the candle study . however , we are continually evaluating our operating plan and assessing the optimal cash utilization for our ibrexafungerp development strategy . 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 product candidates , we are unable to estimate the amounts of increased capital outlays and operating expenses necessary to complete the development of product candidates . our future capital requirements will depend on many factors , including : the progress , costs , and the clinical research and development of ibrexafungerp ; the outcome , costs and timing of seeking and obtaining fda and any other regulatory approvals ; the ability of our product candidates to progress through clinical development successfully ; our need to expand our research and development activities ; the costs associated with securing , establishing and maintaining commercialization and manufacturing capabilities ; our ability to maintain , expand and defend the scope of our intellectual property portfolio , including the amount and timing of any payments we may be required to make , or that we may receive , in connection with the licensing , filing , prosecution , defense and enforcement of any patents or other intellectual property rights ; our need and ability to hire additional management and scientific and medical personnel ; 47 our need to implement additional , as well as to enhance existing , internal systems and infrastructure , including financial and reporting processes and systems ; and the economic and other terms , timing and success of our existing licensing arrangements and any collaboration , licensing or other arrangements into which we may enter in the future . until such time , if ever , as we can generate substantial revenue from product sales , we expect to finance our cash needs through a combination of net proceeds from equity offerings , debt financings , or other non-dilutive third-party funding ( e.g . , grants , new jersey technology business tax certificate transfer ( nol ) program ) , strategic alliances and licensing arrangements . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interests of our common stockholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our common stockholders . debt financing , similar to our previous loan agreement with solar or the convertible senior notes we sold in march 2019 and april 2020 , 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 . if we raise additional funds through sales of assets , other third-party funding , strategic alliances and licensing or collaboration 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 . off-balance sheet arrangements during the periods presented we did not have , nor do we currently have , any off-balance sheet arrangements as defined under sec rules . critical accounting policies and significant judgments and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which we have prepared in accordance with accounting principles generally accepted in the united states , or gaap . the preparation of our consolidated financial statements requires us to make judgments , estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of our consolidated financial statements , as well as the reported revenues and expenses during the reported periods . we evaluate these estimates and judgments on an ongoing basis . we base our assumptions and estimates on historical experience and on various other factors that we believe are reasonable under the

sources of liquidity as of december 31 , 2020 , we had cash and cash equivalents of approximately $ 93.0 million , compared to cash , cash equivalents , and short-term investments of $ 48.4 million as of december 31 , 2019. the increase in our cash and cash equivalents was primarily due to the funds raised in our december 2020 public offering of our common stock and warrants and through our atm and aspire facilities , the sale of our april 2020 notes , the cash receipt of $ 3.1 million received in 2020 for the sale of a portion of our new jersey nols , offset in part by the continued development costs associated with our lead product candidate , ibrexafungerp . we have incurred net losses since our inception , including the year ended december 31 , 2020. as of december 31 , 2020 , our accumulated deficit was $ 326.6 million . we anticipate that we will continue to incur losses for at least the next several years . as a result , we will need additional capital to fund our operations , which we may obtain through one or more of equity offerings , debt financings , or other non-dilutive third-party funding ( e.g. , grants , new jersey technology business tax certificate transfer ( nol ) program ) , strategic alliances and licensing or collaboration arrangements . we may offer shares of our common stock pursuant to our form s-3 shelf registration statements . for the year ended december 31 , 2020 , we received net proceeds of $ 4.8 million , under our atm facility . in april 2020 and march 2019 , we sold to puissance life science opportunities fund vi ( puissance ) $ 10.0 million and $ 16.0 million aggregate principal amount of our convertible senior notes ( notes ) , respectively . see note 7 to our consolidated financial statements for the year ended december 31 , 2020 , included in this annual report for further details .


 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.
     ```sources of liquidity as of december 31 , 2020 , we had cash and cash equivalents of approximately $ 93.0 million , compared to cash , cash equivalents , and short-term investments of $ 48.4 million as of december 31 , 2019. the increase in our cash and cash equivalents was primarily due to the funds raised in our december 2020 public offering of our common stock and warrants and through our atm and aspire facilities , the sale of our april 2020 notes , the cash receipt of $ 3.1 million received in 2020 for the sale of a portion of our new jersey nols , offset in part by the continued development costs associated with our lead product candidate , ibrexafungerp . we have incurred net losses since our inception , including the year ended december 31 , 2020. as of december 31 , 2020 , our accumulated deficit was $ 326.6 million . we anticipate that we will continue to incur losses for at least the next several years . as a result , we will need additional capital to fund our operations , which we may obtain through one or more of equity offerings , debt financings , or other non-dilutive third-party funding ( e.g. , grants , new jersey technology business tax certificate transfer ( nol ) program ) , strategic alliances and licensing or collaboration arrangements . we may offer shares of our common stock pursuant to our form s-3 shelf registration statements . for the year ended december 31 , 2020 , we received net proceeds of $ 4.8 million , under our atm facility . in april 2020 and march 2019 , we sold to puissance life science opportunities fund vi ( puissance ) $ 10.0 million and $ 16.0 million aggregate principal amount of our convertible senior notes ( notes ) , respectively . see note 7 to our consolidated financial statements for the year ended december 31 , 2020 , included in this annual report for further details .
```    
 Suspicious Activity Report : the fda has granted qualified infectious disease product ( qidp ) and fast track designations to ibrexafungerp for the indications of vvc ( including the treatment of vvc episodes and the prevention of recurrent vvc ) , invasive candidiasis ( ic ) ( including candidemia ) , and invasive aspergillosis ( ia ) , and has granted orphan drug designations for the ic and ia indications . these designations may provide us with additional market exclusivity and expedited regulatory paths . ibrexafungerp update we recently announced that the fda has accepted for filing our nda for ibrexafungerp for the treatment of vvc , also known as vaginal yeast infections . the fda has granted this application priority review , a designation which is granted to applications for potential drugs that , if approved , would be significant improvements in the safety or effectiveness of the treatment of serious conditions when compared to standard applications . under the pdufa , the fda has set a target action date of june 1 , 2021. additionally , the fda has communicated that it is not currently planning to hold an advisory committee meeting to discuss the application . the nda is supported by positive results from two phase 3 , randomized , double-blind , placebo-controlled , multi-center studies ( vanish-303 and vanish-306 ) , in which oral ibrexafungerp demonstrated statistically superior efficacy and a favorable tolerability profile in women with vvc . enrollment is complete in the candle study , a phase 3 , multi-center , randomized , double-blind , placebo-controlled trial designed to evaluate the efficacy and safety of oral ibrexafungerp for the prevention of recurrent vvc , for which there is no approved therapy in the u.s. as a result of the covid-19 pandemic , our timelines for reaching our targeted enrollment size in the candle study were slightly extended and we now anticipate both top-line data and a potential supplemental nda submission for the prevention of recurrent vvc in the first half of 2022 , resulting in a potential approval in late 2022. enrollment is ongoing in our refractory invasive fungal infections ( rifi ) program , which comprises two open-label phase 3 studies ( furi and cares ) designed to support a potential future nda submission through the limited population pathway for antibacterial and antifungal drugs ( lpad ) , as well as our phase 2 study ( scynergia study ) of oral ibrexafungerp in combination with voriconazole ( soc ) in patients with ia . similar to interim analyses of data previously reported , we intend to analyze the data of patients that have completed the treatment course in our furi and cares studies and announce these findings when complete . 41 we have successfully completed preclinical testing of our liposomal iv formulation of ibrexafungerp and we are advancing the program into human trials in healthy volunteers . the first trial is being conducted as a phase 1 , randomized , double-blind , placebo-controlled study to evaluate the safety , tolerability , and pharmacokinetics of the iv liposomal formulation of ibrexafungerp in healthy subjects . the study is being conducted in south africa and dosing started in march 2021. corporate update on december 2 , 2020 , we amended our license agreement with merck sharp & dohme corp. ( merck ) , dated may 24 , 2013. the amendment eliminates two cash milestone payments that we would have paid to merck upon the first filing of a nda , triggered by the fda acceptance for filing of our nda for ibrexafungerp for the treatment of vvc , and first marketing approval in the u.s. , anticipated in june 2021 for our nda for ibrexafungerp for the treatment of vvc . such cash milestone payments would have been creditable against future royalties owed to merck on net sales of ibrexafungerp . with the amendment , these milestones will not be paid in cash and , accordingly , credits will not accrue . pursuant to the amendment , we will also forfeit the credits against future royalties that it had accrued from a prior milestone payment already paid to merck . all other key terms of the license agreement are unchanged . on december 17 , 2020 , we completed a public offering ( the december 2020 public offering ) of our common stock and warrants pursuant to our effective shelf registration . we sold an aggregate of ( a ) 8,340,000 shares of our common stock , par value $ 0.001 per share , ( b ) pre-funded warrants , in lieu of common stock , to purchase 5,260,000 shares of our common stock , par value $ 0.001 per share , and ( c ) two series of warrants , which will accompany the common stock or pre-funded warrants , to purchase up to an aggregate of 13,600,000 shares of our common stock and received approximately $ 79.5 million in net proceeds . in february 2021 , we partnered with amplity inc. ( amplity ) for the potential upcoming commercial launch of ibrexafungerp for the treatment of vvc . under the terms of the 5-year agreement , we will utilize amplity 's commercial execution expertise and resources for sales force , remote engagement , training , market access and select operations services . we will maintain full ownership of ibrexafungerp and control of all strategic aspects of the launch . amplity is deferring a portion of its direct service costs in the first two years ( 2021 and 2022 ) , which we will repay over three years starting in 2023. amplity has the potential to earn a performance-based success fee in the 2023-2025 time frame by exceeding certain revenue targets . story_separator_special_tag additionally , pursuant to the note purchase agreement , we issued and sold to puissance $ 16.0 million aggregate principal amount of our march 2019 notes , resulting in $ 14.7 million in net proceeds after deducting an advisory fee and other issuance costs , and we used the net proceeds to pay the remaining outstanding solar term loan in full . as part of the payment of the outstanding balance of the solar term loan , we paid $ 0.8 million in debt extinguishment costs which comprised the remaining unamortized discount and issuance costs associated with the solar term loan prior to repayment . future funding requirements to date , we have not generated any revenue from product sales . we do not know when , or if , we will generate any revenue from product sales . we do not expect to generate significant revenue from product sales unless and until we obtain regulatory approval of and commercialize ibrexafungerp . in addition , we expect to incur expenses in connection with our ongoing development activities , particularly as we continue the research , development and clinical trials of , and seek regulatory approval for , our product candidates . we anticipate that we will need substantial additional funding in connection with our continuing future operations . based upon our existing operating plan , we believe that our existing cash and cash equivalents , the sale of a portion of our new jersey nols , the upfront payment from hansoh , and anticipated sales of brexafemme will enable us to fund our operating requirements into 2023. these funds will also be sufficient to enable us to commercially launch brexafemme for the treatment of vaginal yeast infections , if approved , and complete the development activities for the candle study . however , we are continually evaluating our operating plan and assessing the optimal cash utilization for our ibrexafungerp development strategy . 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 product candidates , we are unable to estimate the amounts of increased capital outlays and operating expenses necessary to complete the development of product candidates . our future capital requirements will depend on many factors , including : the progress , costs , and the clinical research and development of ibrexafungerp ; the outcome , costs and timing of seeking and obtaining fda and any other regulatory approvals ; the ability of our product candidates to progress through clinical development successfully ; our need to expand our research and development activities ; the costs associated with securing , establishing and maintaining commercialization and manufacturing capabilities ; our ability to maintain , expand and defend the scope of our intellectual property portfolio , including the amount and timing of any payments we may be required to make , or that we may receive , in connection with the licensing , filing , prosecution , defense and enforcement of any patents or other intellectual property rights ; our need and ability to hire additional management and scientific and medical personnel ; 47 our need to implement additional , as well as to enhance existing , internal systems and infrastructure , including financial and reporting processes and systems ; and the economic and other terms , timing and success of our existing licensing arrangements and any collaboration , licensing or other arrangements into which we may enter in the future . until such time , if ever , as we can generate substantial revenue from product sales , we expect to finance our cash needs through a combination of net proceeds from equity offerings , debt financings , or other non-dilutive third-party funding ( e.g . , grants , new jersey technology business tax certificate transfer ( nol ) program ) , strategic alliances and licensing arrangements . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interests of our common stockholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our common stockholders . debt financing , similar to our previous loan agreement with solar or the convertible senior notes we sold in march 2019 and april 2020 , 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 . if we raise additional funds through sales of assets , other third-party funding , strategic alliances and licensing or collaboration 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 . off-balance sheet arrangements during the periods presented we did not have , nor do we currently have , any off-balance sheet arrangements as defined under sec rules . critical accounting policies and significant judgments and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which we have prepared in accordance with accounting principles generally accepted in the united states , or gaap . the preparation of our consolidated financial statements requires us to make judgments , estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of our consolidated financial statements , as well as the reported revenues and expenses during the reported periods . we evaluate these estimates and judgments on an ongoing basis . we base our assumptions and estimates on historical experience and on various other factors that we believe are reasonable under the

