the fda granted breakthrough therapy designation for bentracimab in april 2019. the european medicines agency , or the ema , granted bentracimab priority medicines , or prime , designation in february 2020. based on feedback from the fda , we intend to submit a biologics license application , or bla , for potential accelerated approval based on an interim analysis of the first approximately 100 patients treated in our reverse-it trial , targeting that approximately one half of patients enrolled have uncontrolled major or life-threatening bleeding and approximately one half require urgent surgery or an invasive procedure . after we submit our bla with data from the first 100 patients , we intend to complete the reverse-it trial and establish a post-approval registry in accordance with fda requirements . the committee for medicinal products for human use , or chmp , of the ema has also generally agreed with our proposed clinical development plan for bentracimab . we have enrolled more than half of the first approximately 100 patients needed to support our bla submission , nearly all of whom to date have required urgent surgery or an invasive procedure . we are attempting to accelerate enrollment of patients with uncontrolled major or life-threatening bleeding , including by working to increase the number of enrolling clinical trial sites in the united states , canada , and the european union as we believe that a broader site footprint will increase the probability of enrolling these patients . all of the first approximately 100 patients enrolled in the reverse-it trial will be measured against the same verifynow prutest biomarker described above . we expect to complete enrollment of the first 100 patients in the reverse-it trial in mid-2021 , and are targeting to submit our bla for bentracimab in mid-2022 , although those timelines could be impacted by the continued scope and duration of the covid-19 pandemic . we have a limited operating history . since our inception in 2002 , our operations have focused on developing our clinical and preclinical product candidates and our proprietary elp technology , organizing and staffing our company , business planning , raising capital , establishing our intellectual property portfolio and conducting clinical trials and preclinical studies . we do not have any product candidates approved for sale and have not generated any revenue from product sales . since inception , we have financed our operations primarily through the sale of equity and debt securities and our term loans with silicon valley bank , or svb , and westriver innovation lending fund viii , l.p. , or westriver . in april 2019 , we received $ 46.3 million in net proceeds from an underwritten public offering of our common stock . in may 2019 , we received an additional $ 2.5 million under our term loan with svb and westriver , or our 2019 loan , and in october 2019 , we received an additional $ 5.0 million under our 2019 loan . in january 2020 , we entered into the sfj agreement pursuant to which sfj has agreed to provide us up to $ 120.0 million of funding to support the clinical development of bentracimab . as of december 31 , 2020 , sfj has provided funding and paid for amounts on our behalf in the aggregate amount of $ 47.1 million under the sfj agreement . in addition , we expect that sfj will fund or reimburse an additional $ 42.9 million of clinical trial costs and other expenses . sfj will also provide up to an additional $ 30.0 million of funding upon the achievement of specified clinical development milestones with respect to our ongoing reverse-it trial of bentracimab . since our inception , we have incurred significant operating losses . our net loss was $ 98.6 million for the year ended december 31 , 2020. as of december 31 , 2020 , we had an accumulated deficit of $ 260.7 million . we expect to continue to incur significant expenses and operating losses for the foreseeable future . we anticipate that our expenses will increase substantially in connection with our ongoing activities , as we : continue our ongoing clinical trials of bentracimab and pemziviptadil , as well as initiate and complete additional clinical trials , as needed ; 79 seek to expand our geographical reach through the sfj agreement and the corresponding clinical development support fees that we will incur ; pursue regulatory approvals for bentracimab as a reversal agent for the antiplatelet drug ticagrelor and pemziviptadil for the treatment of pah ; develop pb6440 for treatment-resistant hypertension ; seek to discover and develop additional clinical and preclinical product candidates ; scale up our clinical and regulatory capabilities ; establish a commercialization infrastructure and scale up external manufacturing and distribution capabilities to commercialize any product candidates for which we may obtain regulatory approval , including bentracimab and pemziviptadil ; adapt our regulatory compliance efforts to incorporate requirements applicable to marketed products ; maintain , expand and protect our intellectual property portfolio ; hire additional clinical , manufacturing and scientific personnel ; add operational , financial and management information systems and personnel , including personnel to support our product development and possible future commercialization efforts ; and incur additional legal , accounting and other expenses in operating as a public company . recent development in march 2021 , we entered into a supply agreement with biovectra inc. for the manufacture and supply of bulk drug substance for bentracimab for commercial distribution following regulatory approval . under the terms of the supply agreement , biovectra has committed to maintaining capacity to manufacture an agreed number of batches of product per year , although we are free to contract with third parties for the manufacture of bentracimab . refer to `` item 1. business `` under the subheading business - license , co-development and other agreements - biovectra supply agreement in this annual report . story_separator_special_tag we incurred $ 0.1 million in costs under the pb6440 agreement for the year ended december 31 , 2020. biovectra supply agreement in march 2021 , we entered into a supply agreement , or the biovectra agreement , with biovectra inc. , or biovectra , for the manufacture and supply by biovectra of bulk drug substance for bentracimab for commercial distribution following regulatory approval , if obtained . under the terms of the biovectra agreement , biovectra has committed to maintaining capacity to manufacture an agreed number of batches of product each year , and we have committed to purchase a specified minimum number of batches of product per year , or the minimum annual commitment , although we are free to contract with third parties for the manufacture of bentracimab . we will pay a supply price per batch of product to be determined after the manufacturing process for the product is validated in accordance with the biovectra agreement , or validation , plus the cost of certain consumables , raw materials , and third-party testing . pursuant to the minimum annual commitments , we are obligated to purchase a minimum of ( i ) approximately $ 14.0 million of batches of product in years 2022 through 2023 , ( ii ) approximately $ 37.0 million of batches of product in 2024 , and ( iii ) approximately $ 48.0 million of batches of product in each of years 2025 through 2031. in the event we do not purchase the applicable minimum annual commitment in a given year , we will be obligated to make a payment to biovectra in an amount equal to the then-applicable supply price per batch multiplied by the difference between the minimum annual commitment for such year and the number of batches of product we actually purchased in such year , or the minimum shortfall payment , except in the event that biovectra was unable to deliver the number of batches ordered by us in such year . in the event of certain serious or extended failures by biovectra to supply product in the quantities ordered by us in a given year , our minimum annual commitment for such year ( and potentially one or more subsequent years ) will be subject to reduction , and our obligation to make a minimum shortfall payment for such year ( and potentially one or more subsequent years ) will be waived . we will have the right to reduce the minimum annual commitments for the year 2026 and subsequent years by up to a specified maximum percentage per year . further , if we are only able to obtain regulatory approval for products incorporating bentracimab in only one of the u.s. or europe , biovectra and we have agreed to discuss in good faith an amendment to the biovectra agreement to reflect decreased requirements for product and impacts to the supply price to reflect lower volume commitments . results of operations comparison of the years ended december 31 , 2020 and 2019 the following table summarizes our results of operations for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_1_th 84 revenue grant revenue was $ 0.3 million for the year ended december 31 , 2020 , compared to $ 1.8 million for the year ended december 31 , 2019. the decrease was due to lower amounts available for grant reimbursement under our government grants during the year ended december 31 , 2020. we have received all $ 2.8 million in funding available under the small business innovation research grants received from the national institutes of health to support the clinical development of pemziviptadil for the treatment of pah . revenue under collaborative agreement was zero for the year ended december 31 , 2020 , compared to $ 0.6 million for the year ended december 31 , 2019. the decrease of $ 0.6 million was related to revenue we received from our agreement with immunoforge , which was entered into in 2019. research and development expense research and development expense was $ 72.1 million for the year ended december 31 , 2020 , compared to $ 30.9 million for the year ended december 31 , 2019. the increase of $ 41.2 million was primarily attributable to increases in clinical and drug production activities related to bentracimab and pemziviptadil , personnel costs due to additional headcount and costs associated with our general research efforts . the following table summarizes our research and development expense by functional area for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_2_th the following table summarizes our research and development expense by product candidate for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_3_th general and administrative expense general and administrative expense was $ 13.1 million for the year ended december 31 , 2020 , compared to $ 11.2 million for the year ended december 31 , 2019. the increase of $ 1.9 million was primarily attributable to increases in personnel expense due to additional headcount , directors and officers liability insurance and professional services related to consulting and legal services . loss from remeasurement of derivative liability loss from remeasurement of derivative liability was $ 12.5 million for the year ended december 31 , 2020. the liability was initially recorded at the present value of the estimated consideration to be received and the estimated consideration to be paid pursuant to the contractual terms of the sfj agreement , which was determined to have been fair value . the derivative liability was subsequently remeasured at year end as a level 3 derivative . 85 interest income interest income was $ 0.2 million for the year ended december 31 , 2020 , compared to $ 1.6 million for the year ended december 31 , 2019. the decrease of $ 1.3 million was attributable to higher balances of cash and cash equivalents and higher interest rates

liquidity and capital resources since our inception , we have not generated any revenue from product sales and have incurred net losses and negative cash flows from our operations . we have financed our operations primarily through public offerings of our common stock , private placements of convertible debt and convertible preferred stock and borrowings under our term loans . in future periods we expect sfj to provide up to an additional $ 72.9 million of funding pursuant to the sfj agreement , $ 30.0 million of which we are eligible to receive upon the achievement of specified milestones with respect to our clinical development of bentracimab . as of december 31 , 2020 , we had cash and cash equivalents of $ 28.1 million . in march 2019 , we entered into the 2019 loan with svb and westriver , pursuant to which we could borrow up to $ 15.0 million , issuable in three separate tranches . as of december 31 , 2020 , we had drawn on all three tranches under the 2019 loan in the amounts of $ 7.5 million , $ 2.5 million and $ 5.0 million . in april 2019 , we completed an underwritten public offering of our common stock , which resulted in the issuance and sale of an aggregate of 4,124,475 shares of common stock at a public offering price of $ 12.00 per share , generating net proceeds of $ 46.3 million after deducting underwriting discounts and commissions and other offering costs .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources since our inception , we have not generated any revenue from product sales and have incurred net losses and negative cash flows from our operations . we have financed our operations primarily through public offerings of our common stock , private placements of convertible debt and convertible preferred stock and borrowings under our term loans . in future periods we expect sfj to provide up to an additional $ 72.9 million of funding pursuant to the sfj agreement , $ 30.0 million of which we are eligible to receive upon the achievement of specified milestones with respect to our clinical development of bentracimab . as of december 31 , 2020 , we had cash and cash equivalents of $ 28.1 million . in march 2019 , we entered into the 2019 loan with svb and westriver , pursuant to which we could borrow up to $ 15.0 million , issuable in three separate tranches . as of december 31 , 2020 , we had drawn on all three tranches under the 2019 loan in the amounts of $ 7.5 million , $ 2.5 million and $ 5.0 million . in april 2019 , we completed an underwritten public offering of our common stock , which resulted in the issuance and sale of an aggregate of 4,124,475 shares of common stock at a public offering price of $ 12.00 per share , generating net proceeds of $ 46.3 million after deducting underwriting discounts and commissions and other offering costs .
```    
 Suspicious Activity Report : the fda granted breakthrough therapy designation for bentracimab in april 2019. the european medicines agency , or the ema , granted bentracimab priority medicines , or prime , designation in february 2020. based on feedback from the fda , we intend to submit a biologics license application , or bla , for potential accelerated approval based on an interim analysis of the first approximately 100 patients treated in our reverse-it trial , targeting that approximately one half of patients enrolled have uncontrolled major or life-threatening bleeding and approximately one half require urgent surgery or an invasive procedure . after we submit our bla with data from the first 100 patients , we intend to complete the reverse-it trial and establish a post-approval registry in accordance with fda requirements . the committee for medicinal products for human use , or chmp , of the ema has also generally agreed with our proposed clinical development plan for bentracimab . we have enrolled more than half of the first approximately 100 patients needed to support our bla submission , nearly all of whom to date have required urgent surgery or an invasive procedure . we are attempting to accelerate enrollment of patients with uncontrolled major or life-threatening bleeding , including by working to increase the number of enrolling clinical trial sites in the united states , canada , and the european union as we believe that a broader site footprint will increase the probability of enrolling these patients . all of the first approximately 100 patients enrolled in the reverse-it trial will be measured against the same verifynow prutest biomarker described above . we expect to complete enrollment of the first 100 patients in the reverse-it trial in mid-2021 , and are targeting to submit our bla for bentracimab in mid-2022 , although those timelines could be impacted by the continued scope and duration of the covid-19 pandemic . we have a limited operating history . since our inception in 2002 , our operations have focused on developing our clinical and preclinical product candidates and our proprietary elp technology , organizing and staffing our company , business planning , raising capital , establishing our intellectual property portfolio and conducting clinical trials and preclinical studies . we do not have any product candidates approved for sale and have not generated any revenue from product sales . since inception , we have financed our operations primarily through the sale of equity and debt securities and our term loans with silicon valley bank , or svb , and westriver innovation lending fund viii , l.p. , or westriver . in april 2019 , we received $ 46.3 million in net proceeds from an underwritten public offering of our common stock . in may 2019 , we received an additional $ 2.5 million under our term loan with svb and westriver , or our 2019 loan , and in october 2019 , we received an additional $ 5.0 million under our 2019 loan . in january 2020 , we entered into the sfj agreement pursuant to which sfj has agreed to provide us up to $ 120.0 million of funding to support the clinical development of bentracimab . as of december 31 , 2020 , sfj has provided funding and paid for amounts on our behalf in the aggregate amount of $ 47.1 million under the sfj agreement . in addition , we expect that sfj will fund or reimburse an additional $ 42.9 million of clinical trial costs and other expenses . sfj will also provide up to an additional $ 30.0 million of funding upon the achievement of specified clinical development milestones with respect to our ongoing reverse-it trial of bentracimab . since our inception , we have incurred significant operating losses . our net loss was $ 98.6 million for the year ended december 31 , 2020. as of december 31 , 2020 , we had an accumulated deficit of $ 260.7 million . we expect to continue to incur significant expenses and operating losses for the foreseeable future . we anticipate that our expenses will increase substantially in connection with our ongoing activities , as we : continue our ongoing clinical trials of bentracimab and pemziviptadil , as well as initiate and complete additional clinical trials , as needed ; 79 seek to expand our geographical reach through the sfj agreement and the corresponding clinical development support fees that we will incur ; pursue regulatory approvals for bentracimab as a reversal agent for the antiplatelet drug ticagrelor and pemziviptadil for the treatment of pah ; develop pb6440 for treatment-resistant hypertension ; seek to discover and develop additional clinical and preclinical product candidates ; scale up our clinical and regulatory capabilities ; establish a commercialization infrastructure and scale up external manufacturing and distribution capabilities to commercialize any product candidates for which we may obtain regulatory approval , including bentracimab and pemziviptadil ; adapt our regulatory compliance efforts to incorporate requirements applicable to marketed products ; maintain , expand and protect our intellectual property portfolio ; hire additional clinical , manufacturing and scientific personnel ; add operational , financial and management information systems and personnel , including personnel to support our product development and possible future commercialization efforts ; and incur additional legal , accounting and other expenses in operating as a public company . recent development in march 2021 , we entered into a supply agreement with biovectra inc. for the manufacture and supply of bulk drug substance for bentracimab for commercial distribution following regulatory approval . under the terms of the supply agreement , biovectra has committed to maintaining capacity to manufacture an agreed number of batches of product per year , although we are free to contract with third parties for the manufacture of bentracimab . refer to `` item 1. business `` under the subheading business - license , co-development and other agreements - biovectra supply agreement in this annual report . story_separator_special_tag we incurred $ 0.1 million in costs under the pb6440 agreement for the year ended december 31 , 2020. biovectra supply agreement in march 2021 , we entered into a supply agreement , or the biovectra agreement , with biovectra inc. , or biovectra , for the manufacture and supply by biovectra of bulk drug substance for bentracimab for commercial distribution following regulatory approval , if obtained . under the terms of the biovectra agreement , biovectra has committed to maintaining capacity to manufacture an agreed number of batches of product each year , and we have committed to purchase a specified minimum number of batches of product per year , or the minimum annual commitment , although we are free to contract with third parties for the manufacture of bentracimab . we will pay a supply price per batch of product to be determined after the manufacturing process for the product is validated in accordance with the biovectra agreement , or validation , plus the cost of certain consumables , raw materials , and third-party testing . pursuant to the minimum annual commitments , we are obligated to purchase a minimum of ( i ) approximately $ 14.0 million of batches of product in years 2022 through 2023 , ( ii ) approximately $ 37.0 million of batches of product in 2024 , and ( iii ) approximately $ 48.0 million of batches of product in each of years 2025 through 2031. in the event we do not purchase the applicable minimum annual commitment in a given year , we will be obligated to make a payment to biovectra in an amount equal to the then-applicable supply price per batch multiplied by the difference between the minimum annual commitment for such year and the number of batches of product we actually purchased in such year , or the minimum shortfall payment , except in the event that biovectra was unable to deliver the number of batches ordered by us in such year . in the event of certain serious or extended failures by biovectra to supply product in the quantities ordered by us in a given year , our minimum annual commitment for such year ( and potentially one or more subsequent years ) will be subject to reduction , and our obligation to make a minimum shortfall payment for such year ( and potentially one or more subsequent years ) will be waived . we will have the right to reduce the minimum annual commitments for the year 2026 and subsequent years by up to a specified maximum percentage per year . further , if we are only able to obtain regulatory approval for products incorporating bentracimab in only one of the u.s. or europe , biovectra and we have agreed to discuss in good faith an amendment to the biovectra agreement to reflect decreased requirements for product and impacts to the supply price to reflect lower volume commitments . results of operations comparison of the years ended december 31 , 2020 and 2019 the following table summarizes our results of operations for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_1_th 84 revenue grant revenue was $ 0.3 million for the year ended december 31 , 2020 , compared to $ 1.8 million for the year ended december 31 , 2019. the decrease was due to lower amounts available for grant reimbursement under our government grants during the year ended december 31 , 2020. we have received all $ 2.8 million in funding available under the small business innovation research grants received from the national institutes of health to support the clinical development of pemziviptadil for the treatment of pah . revenue under collaborative agreement was zero for the year ended december 31 , 2020 , compared to $ 0.6 million for the year ended december 31 , 2019. the decrease of $ 0.6 million was related to revenue we received from our agreement with immunoforge , which was entered into in 2019. research and development expense research and development expense was $ 72.1 million for the year ended december 31 , 2020 , compared to $ 30.9 million for the year ended december 31 , 2019. the increase of $ 41.2 million was primarily attributable to increases in clinical and drug production activities related to bentracimab and pemziviptadil , personnel costs due to additional headcount and costs associated with our general research efforts . the following table summarizes our research and development expense by functional area for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_2_th the following table summarizes our research and development expense by product candidate for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_3_th general and administrative expense general and administrative expense was $ 13.1 million for the year ended december 31 , 2020 , compared to $ 11.2 million for the year ended december 31 , 2019. the increase of $ 1.9 million was primarily attributable to increases in personnel expense due to additional headcount , directors and officers liability insurance and professional services related to consulting and legal services . loss from remeasurement of derivative liability loss from remeasurement of derivative liability was $ 12.5 million for the year ended december 31 , 2020. the liability was initially recorded at the present value of the estimated consideration to be received and the estimated consideration to be paid pursuant to the contractual terms of the sfj agreement , which was determined to have been fair value . the derivative liability was subsequently remeasured at year end as a level 3 derivative . 85 interest income interest income was $ 0.2 million for the year ended december 31 , 2020 , compared to $ 1.6 million for the year ended december 31 , 2019. the decrease of $ 1.3 million was attributable to higher balances of cash and cash equivalents and higher interest rates

