the european commission , or ec , has granted orphan medicinal product designation to edasalonexent for the treatment of dmd . we initiated a global phase 3 trial of edasalonexent for the treatment of dmd in september 2018 , which we refer to as the polarisdmd trial . the polarisdmd trial is designed to evaluate the efficacy and safety of edasalonexent for registration purposes , with top-line results expected in the second quarter of 2020. our goal is to submit a new drug application for edasalonexent for the treatment of dmd in early 2021. polarisdmd is currently enrolling patients with enrollment expected to be completed in 2019. the trial design was informed by discussions with the fda , as well as input from treating physicians , families of boys affected by dmd and patient advocacy organizations . the polarisdmd trial is a randomized , double-blind , placebo-controlled trial , and we anticipate enrolling approximately 125 patients between the ages of four and seven ( up to eighth birthday ) , regardless of mutation type , who have not been on steroids for at least six months . the primary efficacy endpoint is change in north star ambulatory assessment , or nsaa , score after 12 months of treatment with edasalonexent compared to placebo . key secondary endpoints are the age-appropriate timed function tests : time to stand , 4-stair climb and 10-meter walk/run . assessments of growth , cardiac and bone health are also included in the trial . this month , we are initiating a new open-label extension trial called the galaxydmd trial , in which we plan to enroll all of the boys currently participating in the movedmd open-label extension , and which will also provide the boys who complete the 12-month polarisdmd trial with the opportunity to receive open-label edasalonexent treatment . the galaxydmd trial is designed to provide longer term safety data to support registration filings . our movedmd phase 1/2 trial enrolled ambulatory boys four to seven years old with a genetically confirmed diagnosis of dmd who were steroid naive or had not used steroids for at least six months prior to the trial . boys enrolled in the trial were not limited to any specific dystrophin mutations and the 31 boys in the trial had 26 different dystrophin mutations . the movedmd trial was designed to be conducted in three sequential parts , phase 1 and phase 2 , both of which are completed , and an open-label extension , which is on-going . in phase 1 of the movedmd trial , we assessed the safety , tolerability and pharmacokinetics of edasalonexent in 17 patients , following seven days of dosing , and 82 we reported in january 2016 that all three doses of edasalonexent tested were generally well tolerated with no safety signals observed and there were no serious adverse events and no drug discontinuations . in the phase 2 portion of the trial , we assessed the effects of edasalonexent using magnetic resonance imaging , or mri , t2 as an early biomarker at 12 weeks , and announced in january 2017 that the primary efficacy endpoint of average change from baseline to week 12 in the mri t2 composite measure of lower leg muscles for the pooled edasalonexent treatment groups compared to placebo was not met , although we observed directionally positive results in the 100/mg/kg/day edasalonexent treatment group that were not statistically significant . subsequently , in the open-label extension of the movedmd trial , we observed statistically significant improvement in the rate of change in lower leg composite mri t2 through 12 , 24 , 36 and 48 weeks on 100 mg/kg of edasalonexent treatment compared to the off-treatment control period . we have completed key efficacy and safety assessments from the movedmd trial . in the ongoing open-label extension of the movedmd trial through 72 weeks of oral 100 mg/kg/day edasalonexent treatment , we observed preserved muscle function and consistent improvements in all four assessments of muscle function : nsaa score , time to stand , 4-stair climb and 10-meter walk/run , compared to the rates of change in the control period for boys prior to receiving edasalonexent treatment . additionally , supportive changes in non-effort-based measures of muscle health were seen , supporting the durability of edasalonexent treatment effects . specifically , we observed , in the 100 mg/kg/day treatment group , that all four muscle enzymes tested ( creatine kinase , alanine aminotransferase , aspartate aminotransferase and lactate dehydrogenase ) were significantly decreased compared to baseline following edasalonexent treatment at 12 weeks and later time points through 72 weeks ( p < 0.05 ) . through 72 weeks of treatment , edasalonexent continued to be well tolerated with no safety signals observed in the movedmd trial . boys treated with edasalonexent continued to follow age-appropriate growth curves with age-appropriate increases in weight and height and overall body mass index trended down to age-normative values . we also observed that the heart rate of the boys significantly decreased toward age-normative values with over a year and a half period of edasalonexent treatment . in addition to edasalonexent , we have developed cat-5571 as a potential treatment for cystic fibrosis , or cf . cat-5571 is an oral small molecule that is designed to activate autophagy , a mechanism for recycling cellular components and digesting pathogens , which is important for host defenses and is depressed in cf . we have completed investigational new drug , or ind , application-enabling activities for cat-5571 . story_separator_special_tag general and administrative expenses general and administrative expenses increased by $ 0.4 million to $ 9.3 million for the year ended december 31 , 2018 from $ 8.9 million for the year ended december 31 , 2017 , an increase of 5 % . the increase in general and administrative expenses was attributable to a $ 0.8 million increase in employee compensation due to one-time performance bonuses awarded to general and administrative employees that were not awarded bonuses in 2017 , a $ 0.1 million increase in the general and administrative portion of insurance and facilities expense , and a $ 0.1 million increase in delaware franchise tax . these increases were partially offset by a $ 0.6 million decrease in consulting and professional services due to cost cutting associated with a strategic shift and restructuring . other income ( expense ) , net other income ( expense ) , net increased by $ 0.8 million for the year ended december 31 , 2018 compared to the year ended december 31 , 2017 due to a decrease in interest expense of $ 0.4 million due to principal payments made on our credit facility , an increase in other income of $ 0.1 million due 88 partially to the net gain realized on assets sold in consolidation of our facilities and an increase of $ 0.3 million in interest and investment income due to an increase in our interest-bearing assets following our june 2018 financing . story_separator_special_tag the number and characteristics of future product candidates that we pursue and their development requirements ; the outcome , timing and costs of seeking regulatory approvals ; the costs of commercialization activities for any of our product candidates that receive marketing approval to the extent such costs are not the responsibility of any future collaborators , including the costs and timing of establishing product sales , marketing , distribution and manufacturing capabilities ; subject to receipt of marketing approval , revenue , if any , received from commercial sales of our product candidates ; our headcount growth and associated costs as we expand our research and development and establish a commercial infrastructure ; the costs of preparing , filing and prosecuting patent applications , maintaining and protecting our intellectual property rights and defending against intellectual property related claims ; and the costs of operating as a public company . 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 several years , if at all . accordingly , we will 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 . we do not have any committed external source of funds . to the extent that we raise additional capital through the sale of equity or convertible debt securities , our stockholders ' ownership interests will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect our stockholders ' rights . additional debt financing , if available , would result in increased fixed payment obligations and may involve agreements that include restrictive covenants that limit our ability to take specific actions , such as incurring additional debt , making capital expenditures or declaring dividends , that could adversely impact our ability to conduct our business . 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 when needed , 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 would otherwise prefer to develop and market ourselves . 91 cash flows comparison of the years ended december 31 , 2018 and 2017 the following table provides information regarding our cash flows for the years ended december 31 , 2018 and 2017 ( in thousands ) : replace_table_token_3_th net cash used in operating activities net cash used in operating activities was $ 23.5 million for the year ended december 31 , 2018 and consisted primarily of a net loss of $ 25.9 million adjusted for non-cash items , including stock-based compensation expense of $ 1.8 million , depreciation and amortization expense of $ 0.1 million , other non-cash items of $ 0.1 million and a net decrease in operating assets of $ 0.7 million , which resulted primarily from increases in accounts payable and accrued expenses . these were partially offset by a gain on disposal of property and equipment of $ 0.3 million . net cash used in operating activities was $ 26.8 million for the year ended december 31 , 2017 and consisted primarily of a net loss of $ 27.4 million adjusted for non-cash items , including stock-based compensation expense of $ 2.0 million , depreciation and amortization expense of $ 0.3 million , non-cash interest expense of $ 0.2 million , and a net increase in operating assets of $ 1.9 million , which resulted

liquidity and capital resources from our inception through december 31 , 2018 , we have raised an aggregate of $ 245.2 million , of which $ 92.9 million was from private placements of preferred stock , $ 69.0 million represented gross proceeds from our ipo , $ 11.5 million represented gross proceeds from our september 2016 registered direct offering , $ 19.0 million represented gross proceeds from our atm offering programs , $ 42.0 million represented gross proceeds from our june 2018 financing , $ 10.0 million was from a secured debt financing and $ 0.8 million was from common stock option and warrant exercises . as of december 31 , 2018 , we had $ 37.6 million in cash , cash equivalents and short-term investments . following december 31 , 2018 , we raised an additional $ 20.0 million in gross proceeds from our february 2019 financing and $ 2.1 million in gross proceeds under our atm offering program we have not generated any revenue from product sales to date . we have incurred significant annual net operating losses in every year since our inception and expect to incur net operating losses in 2019 and for the foreseeable future . as of december 31 , 2018 , we had an accumulated deficit of $ 197.3 million . we expect to continue to incur significant expenses and operating losses for the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . we anticipate that our expenses will increase significantly if and to the extent that we continue to develop and conduct clinical trials with respect to edasalonexent and other product candidates ; initiate and continue research , preclinical and clinical development efforts for our other product candidates and potential product candidates ; maintain , expand and protect our intellectual property portfolio ; establish a commercial infrastructure to support the marketing and sale of certain of our product candidates ; hire additional personnel , such as clinical , regulatory , quality control and scientific personnel ; and operate as a public company .


 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 from our inception through december 31 , 2018 , we have raised an aggregate of $ 245.2 million , of which $ 92.9 million was from private placements of preferred stock , $ 69.0 million represented gross proceeds from our ipo , $ 11.5 million represented gross proceeds from our september 2016 registered direct offering , $ 19.0 million represented gross proceeds from our atm offering programs , $ 42.0 million represented gross proceeds from our june 2018 financing , $ 10.0 million was from a secured debt financing and $ 0.8 million was from common stock option and warrant exercises . as of december 31 , 2018 , we had $ 37.6 million in cash , cash equivalents and short-term investments . following december 31 , 2018 , we raised an additional $ 20.0 million in gross proceeds from our february 2019 financing and $ 2.1 million in gross proceeds under our atm offering program we have not generated any revenue from product sales to date . we have incurred significant annual net operating losses in every year since our inception and expect to incur net operating losses in 2019 and for the foreseeable future . as of december 31 , 2018 , we had an accumulated deficit of $ 197.3 million . we expect to continue to incur significant expenses and operating losses for the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . we anticipate that our expenses will increase significantly if and to the extent that we continue to develop and conduct clinical trials with respect to edasalonexent and other product candidates ; initiate and continue research , preclinical and clinical development efforts for our other product candidates and potential product candidates ; maintain , expand and protect our intellectual property portfolio ; establish a commercial infrastructure to support the marketing and sale of certain of our product candidates ; hire additional personnel , such as clinical , regulatory , quality control and scientific personnel ; and operate as a public company .
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 Suspicious Activity Report : the european commission , or ec , has granted orphan medicinal product designation to edasalonexent for the treatment of dmd . we initiated a global phase 3 trial of edasalonexent for the treatment of dmd in september 2018 , which we refer to as the polarisdmd trial . the polarisdmd trial is designed to evaluate the efficacy and safety of edasalonexent for registration purposes , with top-line results expected in the second quarter of 2020. our goal is to submit a new drug application for edasalonexent for the treatment of dmd in early 2021. polarisdmd is currently enrolling patients with enrollment expected to be completed in 2019. the trial design was informed by discussions with the fda , as well as input from treating physicians , families of boys affected by dmd and patient advocacy organizations . the polarisdmd trial is a randomized , double-blind , placebo-controlled trial , and we anticipate enrolling approximately 125 patients between the ages of four and seven ( up to eighth birthday ) , regardless of mutation type , who have not been on steroids for at least six months . the primary efficacy endpoint is change in north star ambulatory assessment , or nsaa , score after 12 months of treatment with edasalonexent compared to placebo . key secondary endpoints are the age-appropriate timed function tests : time to stand , 4-stair climb and 10-meter walk/run . assessments of growth , cardiac and bone health are also included in the trial . this month , we are initiating a new open-label extension trial called the galaxydmd trial , in which we plan to enroll all of the boys currently participating in the movedmd open-label extension , and which will also provide the boys who complete the 12-month polarisdmd trial with the opportunity to receive open-label edasalonexent treatment . the galaxydmd trial is designed to provide longer term safety data to support registration filings . our movedmd phase 1/2 trial enrolled ambulatory boys four to seven years old with a genetically confirmed diagnosis of dmd who were steroid naive or had not used steroids for at least six months prior to the trial . boys enrolled in the trial were not limited to any specific dystrophin mutations and the 31 boys in the trial had 26 different dystrophin mutations . the movedmd trial was designed to be conducted in three sequential parts , phase 1 and phase 2 , both of which are completed , and an open-label extension , which is on-going . in phase 1 of the movedmd trial , we assessed the safety , tolerability and pharmacokinetics of edasalonexent in 17 patients , following seven days of dosing , and 82 we reported in january 2016 that all three doses of edasalonexent tested were generally well tolerated with no safety signals observed and there were no serious adverse events and no drug discontinuations . in the phase 2 portion of the trial , we assessed the effects of edasalonexent using magnetic resonance imaging , or mri , t2 as an early biomarker at 12 weeks , and announced in january 2017 that the primary efficacy endpoint of average change from baseline to week 12 in the mri t2 composite measure of lower leg muscles for the pooled edasalonexent treatment groups compared to placebo was not met , although we observed directionally positive results in the 100/mg/kg/day edasalonexent treatment group that were not statistically significant . subsequently , in the open-label extension of the movedmd trial , we observed statistically significant improvement in the rate of change in lower leg composite mri t2 through 12 , 24 , 36 and 48 weeks on 100 mg/kg of edasalonexent treatment compared to the off-treatment control period . we have completed key efficacy and safety assessments from the movedmd trial . in the ongoing open-label extension of the movedmd trial through 72 weeks of oral 100 mg/kg/day edasalonexent treatment , we observed preserved muscle function and consistent improvements in all four assessments of muscle function : nsaa score , time to stand , 4-stair climb and 10-meter walk/run , compared to the rates of change in the control period for boys prior to receiving edasalonexent treatment . additionally , supportive changes in non-effort-based measures of muscle health were seen , supporting the durability of edasalonexent treatment effects . specifically , we observed , in the 100 mg/kg/day treatment group , that all four muscle enzymes tested ( creatine kinase , alanine aminotransferase , aspartate aminotransferase and lactate dehydrogenase ) were significantly decreased compared to baseline following edasalonexent treatment at 12 weeks and later time points through 72 weeks ( p < 0.05 ) . through 72 weeks of treatment , edasalonexent continued to be well tolerated with no safety signals observed in the movedmd trial . boys treated with edasalonexent continued to follow age-appropriate growth curves with age-appropriate increases in weight and height and overall body mass index trended down to age-normative values . we also observed that the heart rate of the boys significantly decreased toward age-normative values with over a year and a half period of edasalonexent treatment . in addition to edasalonexent , we have developed cat-5571 as a potential treatment for cystic fibrosis , or cf . cat-5571 is an oral small molecule that is designed to activate autophagy , a mechanism for recycling cellular components and digesting pathogens , which is important for host defenses and is depressed in cf . we have completed investigational new drug , or ind , application-enabling activities for cat-5571 . story_separator_special_tag general and administrative expenses general and administrative expenses increased by $ 0.4 million to $ 9.3 million for the year ended december 31 , 2018 from $ 8.9 million for the year ended december 31 , 2017 , an increase of 5 % . the increase in general and administrative expenses was attributable to a $ 0.8 million increase in employee compensation due to one-time performance bonuses awarded to general and administrative employees that were not awarded bonuses in 2017 , a $ 0.1 million increase in the general and administrative portion of insurance and facilities expense , and a $ 0.1 million increase in delaware franchise tax . these increases were partially offset by a $ 0.6 million decrease in consulting and professional services due to cost cutting associated with a strategic shift and restructuring . other income ( expense ) , net other income ( expense ) , net increased by $ 0.8 million for the year ended december 31 , 2018 compared to the year ended december 31 , 2017 due to a decrease in interest expense of $ 0.4 million due to principal payments made on our credit facility , an increase in other income of $ 0.1 million due 88 partially to the net gain realized on assets sold in consolidation of our facilities and an increase of $ 0.3 million in interest and investment income due to an increase in our interest-bearing assets following our june 2018 financing . story_separator_special_tag the number and characteristics of future product candidates that we pursue and their development requirements ; the outcome , timing and costs of seeking regulatory approvals ; the costs of commercialization activities for any of our product candidates that receive marketing approval to the extent such costs are not the responsibility of any future collaborators , including the costs and timing of establishing product sales , marketing , distribution and manufacturing capabilities ; subject to receipt of marketing approval , revenue , if any , received from commercial sales of our product candidates ; our headcount growth and associated costs as we expand our research and development and establish a commercial infrastructure ; the costs of preparing , filing and prosecuting patent applications , maintaining and protecting our intellectual property rights and defending against intellectual property related claims ; and the costs of operating as a public company . 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 several years , if at all . accordingly , we will 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 . we do not have any committed external source of funds . to the extent that we raise additional capital through the sale of equity or convertible debt securities , our stockholders ' ownership interests will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect our stockholders ' rights . additional debt financing , if available , would result in increased fixed payment obligations and may involve agreements that include restrictive covenants that limit our ability to take specific actions , such as incurring additional debt , making capital expenditures or declaring dividends , that could adversely impact our ability to conduct our business . 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 when needed , 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 would otherwise prefer to develop and market ourselves . 91 cash flows comparison of the years ended december 31 , 2018 and 2017 the following table provides information regarding our cash flows for the years ended december 31 , 2018 and 2017 ( in thousands ) : replace_table_token_3_th net cash used in operating activities net cash used in operating activities was $ 23.5 million for the year ended december 31 , 2018 and consisted primarily of a net loss of $ 25.9 million adjusted for non-cash items , including stock-based compensation expense of $ 1.8 million , depreciation and amortization expense of $ 0.1 million , other non-cash items of $ 0.1 million and a net decrease in operating assets of $ 0.7 million , which resulted primarily from increases in accounts payable and accrued expenses . these were partially offset by a gain on disposal of property and equipment of $ 0.3 million . net cash used in operating activities was $ 26.8 million for the year ended december 31 , 2017 and consisted primarily of a net loss of $ 27.4 million adjusted for non-cash items , including stock-based compensation expense of $ 2.0 million , depreciation and amortization expense of $ 0.3 million , non-cash interest expense of $ 0.2 million , and a net increase in operating assets of $ 1.9 million , which resulted

