instead , private eiger 's stockholders received cash in lieu of any fractional shares of eiger 's common stock such stockholders would have otherwise been entitled to receive in accordance with the merger agreement . immediately following the merger , the combined company changed its name from celladon corporation to eiger biopharmaceuticals , inc. immediately prior to the closing of the merger , private eiger sold approximately $ 39.5 million in shares of its common stock to certain former stockholders of private eiger and certain new investors in private eiger ( the financing ) , which amount included the conversion of the $ 6.0 million in aggregate principal amount outstanding under , and all interest accrued on , certain convertible promissory notes of private eiger . we intend to use the proceeds from the financing to help fund our development pipeline , for working capital and general corporate purposes . the merger will be accounted for as a reverse merger under the acquisition method of accounting . under the acquisition method of accounting , private eiger will be treated as the accounting acquiror and celladon will be treated as the acquired company for financial reporting purposes because , immediately upon completion of the merger , the stockholders of private eiger , prior to the merger held a majority of the voting interest of the combined company . the total purchase price for celladon was approximately $ 26.8 million and will be allocated to identifiable tangible and intangible assets existing as of march 22 , 2016 with any residual amount recorded as goodwill . the reverse stock split did not alter the par value of our common stock or modify any voting rights or other terms of our common stock . the financial information included in this management 's discussion and analysis of financial condition and results of operations is that of celladon prior to the merger because the merger was consummated after the period covered by the financial statements included in this annual report on form 10-k. accordingly , the historical financial information included in this annual report on form 10-k , unless otherwise indicated or as the context otherwise requires , is that of celladon prior to the merger . celladon overview prior to the merger , celladon was a biotechnology company focused on the development of cardiovascular gene therapy . celladon was incorporated in california on december 21 , 2000 and reincorporated in delaware in april 2012. as a consequence of the negative results from the phase 2b clinical trial of its lead product candidate , mydicar ® ( aav1/serca2a ) that were received in late april 2015 , celladon suspended further research and development of mydicar and its pre-clinical programs and implemented other cost cutting measures , including the termination of certain contracts and taking other actions as described below . during the second quarter of 2015 , celladon 's board of directors approved , in two phases , an aggregate reduction of approximately 70 % of its peak workforce of 34 employees as of april 30 , 2015 in order to reduce operating expenses and conserve cash resources . also during 2015 , celladon committed to retention payments payable to certain key employees if such employees remained employed by celladon until december 31 , 2015 or were terminated by celladon without cause prior to such date . during the fourth quarter of 2015 , celladon 's board of directors approved a reduction in force affecting all of celladon 's remaining employees other than its president and chief executive officer , its chief financial officer and its vice president , general counsel . in june 2015 , celladon 's board of directors approved the voluntary prepayment of the outstanding amounts due under its loan and security agreement with hercules technology iii , l.p. and hercules technology growth capital , inc. ( as agent and as a lender , and together with hercules technology iii , l.p. , the lenders ) dated july 31 , 2014 ( the loan agreement ) , with such prepayment to be effected on august 3 , 2015 ( the prepayment date ) . on the prepayment date , celladon paid the lenders : ( i ) the $ 10.0 million outstanding principal balance , ( ii ) $ 0.1 million in accrued and unpaid interest , and ( iii ) an end of term charge of $ 1.8 million for a total payment of $ 11.8 million . 77 index to financial statements in september 2015 , celladon entered into a sublease termination and settlement agreement ( the termination agreement ) with brandes investment partners , l.p. ( brandes ) providing for the termination of that certain sublease agreement by and between celladon and brandes dated may 28 , 2014 ( the lease ) . pursuant to the termination agreement , the parties agreed to terminate the lease during the third quarter of 2015 and celladon agreed to pay an early termination fee of $ 950,000 to brandes in consideration of brandes ' entry into the termination agreement and release of celladon from any further base rent or other payment obligations that would otherwise arise pursuant to the lease . in february 2016 , celladon completed the long-term follow-up stage of a 250-patient randomized , double-blind , placebo-controlled multinational phase 2b trial that was designed to evaluate mydicar in patients with heart failure for reduced ejection fraction , or hfref ( also referred to as systolic heart failure ) . this phase 2b trial is referred to as the cupid 2 trial . historically , celladon devoted substantially all of its resources to research and development efforts relating to its product candidates , including conducting clinical trials and developing manufacturing capabilities , in-licensing related intellectual property , providing general and administrative support for these operations and protecting its intellectual property . story_separator_special_tag the decrease of approximately $ 0.7 million was due primarily to a decrease of $ 2.4 million in expenses during 2015 in clinical and consulting costs due to the lower cost , long-term follow up stage of the cupid 2 trial and cancellation of other development efforts following the negative results of the cupid 2 trial in april 2015 , $ 1.5 million in personnel costs and $ 0.8 million in stock-based compensation due to the reduction in workforce , partially offset by a $ 3.4 million increase 82 index to financial statements in drug substance manufacturing scale-up costs prior to the data unblinding and $ 0.6 million in close-out fees of preclinical studies and various other expenses . general and administrative expenses . general and administrative expenses were $ 12.4 million and $ 10.3 million for the years ended december 31 , 2015 and 2014 , respectively . the increase of approximately $ 2.1 million was due primarily to an increase of $ 1.5 million in costs related to the preparation and filing of a registration statement on form s-4 and the merger , including $ 0.9 million in consulting and $ 0.9 million in legal and printing costs . the increase also included $ 0.7 million in market research and commercialization efforts prior to the data unblinding , $ 0.5 million in stock-based compensation due to increased grants , $ 0.4 in personnel costs due to a higher average headcount during 2015 , partially offset by a $ 0.4 million decrease in recruiting and training due to reduced new hires , $ 0.2 million in investor relations , $ 0.2 million in patent costs and $ 0.2 million in travel and various other administrative expenses . restructuring charges . restructuring charges were $ 7.8 million and zero for the years ended december 31 , 2015 and 2014 , respectively . the charges incurred during the year ended december 31 , 2015 , included $ 4.0 million related to employee severance costs , $ 2.5 million related to retention payment costs , $ 1.1 million in facility lease termination costs and $ 0.2 million in asset impairments . no similar restructuring charges occurred during 2014. other expense . other expense was $ 2.2 million and $ 0.8 million for the years ended december 31 , 2015 and 2014 , respectively . the other expense for the year ended december 31 , 2015 consisted primarily of expenses related to the prepayment of celladon 's term loan in august 2015 , including $ 1.3 million related to the accelerated accretion of the debt terminal fee , $ 0.5 million of cash interest charges and $ 0.5 million of accretion of debt discount and debt issuance costs . the other expense for the year ended december 31 , 2014 consisted primarily of $ 0.7 million of expense related to the accretion of debt discount and interest charges on celladon 's term loan and a $ 0.2 million increase in fair value of the warrant liability prior to reclassification to equity upon our ipo . comparison of the years ended december 31 , 2014 and 2013 the following table summarizes celladon 's results of operations for the years ended december 31 , 2014 and 2013 ( in thousands ) : replace_table_token_5_th research and development expenses . research and development expenses were $ 22.7 million and $ 16.9 million for the years ended december 31 , 2014 and 2013 , respectively . the increase of approximately $ 5.7 million was due primarily to an increase of $ 5.7 million in expenses during 2014 associated with the drug substance manufacturing scale-up , $ 1.7 million in personnel costs related to an increase in headcount , $ 0.6 million in non-clinical studies related to mydicar , $ 0.4 million in stock-based compensation , $ 0.3 million in consulting , regulatory and other costs offset by a decrease of $ 3.0 million in clinical costs due to the completion of enrollment in celladon 's cupid2 trial in the first quarter of 2014. general and administrative expenses . general and administrative expenses were $ 10.3 million and $ 3.0 million for the years ended december 31 , 2014 and 2013 , respectively . the increase of approximately $ 7.3 million was due primarily to an increase of $ 2.5 million in compensation expense related to an increase in headcount , $ 2.1 million in costs associated with operating as a publicly traded company , including investor 83 index to financial statements relations , legal , audit , insurance , taxes and director fees , $ 1.5 million in stock-based compensation , $ 0.7 million in marketing costs and $ 0.5 million in patent , office and other costs . other expense . other expense was $ 0.8 million and $ 0.1 million for the years ended december 31 , 2014 and 2013 , respectively . the other expense for the year ended december 31 , 2014 consisted primarily of $ 0.7 million of expense related to the accretion of debt discount and interest charges on celladon 's term loan and $ 0.2 million increase in fair value of the warrant liability prior to reclassification to equity upon celladon 's initial public offering . the other expense for the year ended december 31 , 2013 consisted primarily of $ 0.2 million of other expense related to an increase in the fair value of the outstanding warrant liability and $ 45,000 of interest expense related to the amortization of debt discount on the outstanding convertible debt , offset by $ 0.1 million of interest income on celladon 's investments and $ 25,000 foreign currency exchange gain . story_separator_special_tag index to financial statements the costs to advance our programs into larger , more expensive clinical studies ; the cost to initiate additional nonclinical , clinical , or other studies for our product candidates ; the costs to identify , educate and develop potential commercial opportunities , such as hcv for our

liquidity and capital resources celladon has incurred net losses each year since inception and as of december 31 , 2015 , it had an accumulated deficit of approximately $ 190.9 million . we anticipate that the combined company will continue to incur net losses for the foreseeable future . we expect that we may need additional capital to fund our operations , which we may obtain through one or more public or private equity offerings , debt financings , government or other third-party funding , strategic alliances and licensing or collaboration arrangements . on august 3 , 2015 , celladon prepaid the outstanding amounts due under its loan facility with hercules , including the $ 10.0 million principal borrowed in 2014. upon the prepayment in august 2015 , celladon 's obligations , covenants , debts and liabilities under the loan facility were satisfied in full and hercules ' commitments to extend further credit to celladon were terminated . since celladon 's inception through december 31 , 2015 , celladon had funded its operations primarily through the sale of its equity and debt securities . as of december 31 , 2015 , celladon had cash and cash equivalents of approximately $ 32.8 million . cash in excess of immediate requirements is invested in accordance with celladon 's investment policy , primarily with a view to liquidity and capital the following table shows a summary of celladon 's cash flows for the periods indicated ( in thousands ) : replace_table_token_6_th operating activities . net cash used in operating activities of $ 41.1 million during the year ended december 31 , 2015 was primarily a result of our net loss of $ 44.8 million .


 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 celladon has incurred net losses each year since inception and as of december 31 , 2015 , it had an accumulated deficit of approximately $ 190.9 million . we anticipate that the combined company will continue to incur net losses for the foreseeable future . we expect that we may need additional capital to fund our operations , which we may obtain through one or more public or private equity offerings , debt financings , government or other third-party funding , strategic alliances and licensing or collaboration arrangements . on august 3 , 2015 , celladon prepaid the outstanding amounts due under its loan facility with hercules , including the $ 10.0 million principal borrowed in 2014. upon the prepayment in august 2015 , celladon 's obligations , covenants , debts and liabilities under the loan facility were satisfied in full and hercules ' commitments to extend further credit to celladon were terminated . since celladon 's inception through december 31 , 2015 , celladon had funded its operations primarily through the sale of its equity and debt securities . as of december 31 , 2015 , celladon had cash and cash equivalents of approximately $ 32.8 million . cash in excess of immediate requirements is invested in accordance with celladon 's investment policy , primarily with a view to liquidity and capital the following table shows a summary of celladon 's cash flows for the periods indicated ( in thousands ) : replace_table_token_6_th operating activities . net cash used in operating activities of $ 41.1 million during the year ended december 31 , 2015 was primarily a result of our net loss of $ 44.8 million .
```    
 Suspicious Activity Report : instead , private eiger 's stockholders received cash in lieu of any fractional shares of eiger 's common stock such stockholders would have otherwise been entitled to receive in accordance with the merger agreement . immediately following the merger , the combined company changed its name from celladon corporation to eiger biopharmaceuticals , inc. immediately prior to the closing of the merger , private eiger sold approximately $ 39.5 million in shares of its common stock to certain former stockholders of private eiger and certain new investors in private eiger ( the financing ) , which amount included the conversion of the $ 6.0 million in aggregate principal amount outstanding under , and all interest accrued on , certain convertible promissory notes of private eiger . we intend to use the proceeds from the financing to help fund our development pipeline , for working capital and general corporate purposes . the merger will be accounted for as a reverse merger under the acquisition method of accounting . under the acquisition method of accounting , private eiger will be treated as the accounting acquiror and celladon will be treated as the acquired company for financial reporting purposes because , immediately upon completion of the merger , the stockholders of private eiger , prior to the merger held a majority of the voting interest of the combined company . the total purchase price for celladon was approximately $ 26.8 million and will be allocated to identifiable tangible and intangible assets existing as of march 22 , 2016 with any residual amount recorded as goodwill . the reverse stock split did not alter the par value of our common stock or modify any voting rights or other terms of our common stock . the financial information included in this management 's discussion and analysis of financial condition and results of operations is that of celladon prior to the merger because the merger was consummated after the period covered by the financial statements included in this annual report on form 10-k. accordingly , the historical financial information included in this annual report on form 10-k , unless otherwise indicated or as the context otherwise requires , is that of celladon prior to the merger . celladon overview prior to the merger , celladon was a biotechnology company focused on the development of cardiovascular gene therapy . celladon was incorporated in california on december 21 , 2000 and reincorporated in delaware in april 2012. as a consequence of the negative results from the phase 2b clinical trial of its lead product candidate , mydicar ® ( aav1/serca2a ) that were received in late april 2015 , celladon suspended further research and development of mydicar and its pre-clinical programs and implemented other cost cutting measures , including the termination of certain contracts and taking other actions as described below . during the second quarter of 2015 , celladon 's board of directors approved , in two phases , an aggregate reduction of approximately 70 % of its peak workforce of 34 employees as of april 30 , 2015 in order to reduce operating expenses and conserve cash resources . also during 2015 , celladon committed to retention payments payable to certain key employees if such employees remained employed by celladon until december 31 , 2015 or were terminated by celladon without cause prior to such date . during the fourth quarter of 2015 , celladon 's board of directors approved a reduction in force affecting all of celladon 's remaining employees other than its president and chief executive officer , its chief financial officer and its vice president , general counsel . in june 2015 , celladon 's board of directors approved the voluntary prepayment of the outstanding amounts due under its loan and security agreement with hercules technology iii , l.p. and hercules technology growth capital , inc. ( as agent and as a lender , and together with hercules technology iii , l.p. , the lenders ) dated july 31 , 2014 ( the loan agreement ) , with such prepayment to be effected on august 3 , 2015 ( the prepayment date ) . on the prepayment date , celladon paid the lenders : ( i ) the $ 10.0 million outstanding principal balance , ( ii ) $ 0.1 million in accrued and unpaid interest , and ( iii ) an end of term charge of $ 1.8 million for a total payment of $ 11.8 million . 77 index to financial statements in september 2015 , celladon entered into a sublease termination and settlement agreement ( the termination agreement ) with brandes investment partners , l.p. ( brandes ) providing for the termination of that certain sublease agreement by and between celladon and brandes dated may 28 , 2014 ( the lease ) . pursuant to the termination agreement , the parties agreed to terminate the lease during the third quarter of 2015 and celladon agreed to pay an early termination fee of $ 950,000 to brandes in consideration of brandes ' entry into the termination agreement and release of celladon from any further base rent or other payment obligations that would otherwise arise pursuant to the lease . in february 2016 , celladon completed the long-term follow-up stage of a 250-patient randomized , double-blind , placebo-controlled multinational phase 2b trial that was designed to evaluate mydicar in patients with heart failure for reduced ejection fraction , or hfref ( also referred to as systolic heart failure ) . this phase 2b trial is referred to as the cupid 2 trial . historically , celladon devoted substantially all of its resources to research and development efforts relating to its product candidates , including conducting clinical trials and developing manufacturing capabilities , in-licensing related intellectual property , providing general and administrative support for these operations and protecting its intellectual property . story_separator_special_tag the decrease of approximately $ 0.7 million was due primarily to a decrease of $ 2.4 million in expenses during 2015 in clinical and consulting costs due to the lower cost , long-term follow up stage of the cupid 2 trial and cancellation of other development efforts following the negative results of the cupid 2 trial in april 2015 , $ 1.5 million in personnel costs and $ 0.8 million in stock-based compensation due to the reduction in workforce , partially offset by a $ 3.4 million increase 82 index to financial statements in drug substance manufacturing scale-up costs prior to the data unblinding and $ 0.6 million in close-out fees of preclinical studies and various other expenses . general and administrative expenses . general and administrative expenses were $ 12.4 million and $ 10.3 million for the years ended december 31 , 2015 and 2014 , respectively . the increase of approximately $ 2.1 million was due primarily to an increase of $ 1.5 million in costs related to the preparation and filing of a registration statement on form s-4 and the merger , including $ 0.9 million in consulting and $ 0.9 million in legal and printing costs . the increase also included $ 0.7 million in market research and commercialization efforts prior to the data unblinding , $ 0.5 million in stock-based compensation due to increased grants , $ 0.4 in personnel costs due to a higher average headcount during 2015 , partially offset by a $ 0.4 million decrease in recruiting and training due to reduced new hires , $ 0.2 million in investor relations , $ 0.2 million in patent costs and $ 0.2 million in travel and various other administrative expenses . restructuring charges . restructuring charges were $ 7.8 million and zero for the years ended december 31 , 2015 and 2014 , respectively . the charges incurred during the year ended december 31 , 2015 , included $ 4.0 million related to employee severance costs , $ 2.5 million related to retention payment costs , $ 1.1 million in facility lease termination costs and $ 0.2 million in asset impairments . no similar restructuring charges occurred during 2014. other expense . other expense was $ 2.2 million and $ 0.8 million for the years ended december 31 , 2015 and 2014 , respectively . the other expense for the year ended december 31 , 2015 consisted primarily of expenses related to the prepayment of celladon 's term loan in august 2015 , including $ 1.3 million related to the accelerated accretion of the debt terminal fee , $ 0.5 million of cash interest charges and $ 0.5 million of accretion of debt discount and debt issuance costs . the other expense for the year ended december 31 , 2014 consisted primarily of $ 0.7 million of expense related to the accretion of debt discount and interest charges on celladon 's term loan and a $ 0.2 million increase in fair value of the warrant liability prior to reclassification to equity upon our ipo . comparison of the years ended december 31 , 2014 and 2013 the following table summarizes celladon 's results of operations for the years ended december 31 , 2014 and 2013 ( in thousands ) : replace_table_token_5_th research and development expenses . research and development expenses were $ 22.7 million and $ 16.9 million for the years ended december 31 , 2014 and 2013 , respectively . the increase of approximately $ 5.7 million was due primarily to an increase of $ 5.7 million in expenses during 2014 associated with the drug substance manufacturing scale-up , $ 1.7 million in personnel costs related to an increase in headcount , $ 0.6 million in non-clinical studies related to mydicar , $ 0.4 million in stock-based compensation , $ 0.3 million in consulting , regulatory and other costs offset by a decrease of $ 3.0 million in clinical costs due to the completion of enrollment in celladon 's cupid2 trial in the first quarter of 2014. general and administrative expenses . general and administrative expenses were $ 10.3 million and $ 3.0 million for the years ended december 31 , 2014 and 2013 , respectively . the increase of approximately $ 7.3 million was due primarily to an increase of $ 2.5 million in compensation expense related to an increase in headcount , $ 2.1 million in costs associated with operating as a publicly traded company , including investor 83 index to financial statements relations , legal , audit , insurance , taxes and director fees , $ 1.5 million in stock-based compensation , $ 0.7 million in marketing costs and $ 0.5 million in patent , office and other costs . other expense . other expense was $ 0.8 million and $ 0.1 million for the years ended december 31 , 2014 and 2013 , respectively . the other expense for the year ended december 31 , 2014 consisted primarily of $ 0.7 million of expense related to the accretion of debt discount and interest charges on celladon 's term loan and $ 0.2 million increase in fair value of the warrant liability prior to reclassification to equity upon celladon 's initial public offering . the other expense for the year ended december 31 , 2013 consisted primarily of $ 0.2 million of other expense related to an increase in the fair value of the outstanding warrant liability and $ 45,000 of interest expense related to the amortization of debt discount on the outstanding convertible debt , offset by $ 0.1 million of interest income on celladon 's investments and $ 25,000 foreign currency exchange gain . story_separator_special_tag index to financial statements the costs to advance our programs into larger , more expensive clinical studies ; the cost to initiate additional nonclinical , clinical , or other studies for our product candidates ; the costs to identify , educate and develop potential commercial opportunities , such as hcv for our

