new factors emerge from time to time , and it is not possible for us to predict which factors will arise . in addition , we can not assess the impact of each factor on our business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . recent events in february 2016 , novavax completed the issuance of $ 325 million of 3.75 % convertible senior notes due in 2023 , resulting in net proceeds of approximately $ 315 million , after deducting initial purchasers ' discounts and commissions , and approximately $ 314 million after deducting offering expenses . we used approximately $ 38 million of the net proceeds to pay the costs of a capped call transaction , which will function to reduce dilution from issuance of additional shares upon conversion of the notes between the note conversion price of $ 6.81 and the cap price of $ 9.73 per share . the resulting final net proceeds to the company were approximately $ 276 million . our cash , cash equivalents and marketable securities on december 31 , 2015 of approximately $ 231 million , as adjusted to give effect to the final net proceeds of the convertible senior note offering of approximately $ 276 million , before giving effect to the anticipated use of the final net proceeds , would result in an as adjusted cash , cash equivalents and marketable securities balance of approximately $ 507 million . 40 overview we are a clinical-stage vaccine company focused on the discovery , development and commercialization of recombinant nanoparticle vaccines and adjuvants . using innovative proprietary recombinant nanoparticle vaccine platform technology , we produce vaccine candidates to efficiently and effectively respond to both known and emerging disease threats . our vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate recombinant proteins critical to disease pathogenesis . our product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus ( “ rsv ” ) , seasonal influenza , pandemic influenza and ebola virus ( “ ebov ” ) . we have additional preclinical stage programs for a variety of infectious diseases . we are also developing proprietary technology for the production of immune stimulating saponin-based adjuvants through our wholly owned swedish subsidiary , novavax ab . our lead adjuvant , matrix-m , has been successfully tested in a phase 1/2 clinical trial for our pandemic h7n9 influenza virus-like particle vaccine candidate , and in a phase 1 clinical trial for our ebov vaccine candidate . genocea biosciences , inc. ( “ genocea ” ) has licensed rights to our matrix technology and is now conducting phase 2 clinical trials with its herpes simplex 2 vaccine candidate using matrix-m. clinical product pipeline our clinical product pipeline includes vaccine candidates engineered to elicit differentiated immune responses with potential to provide increased protection . our nanoparticle technology platform targets antigens with conserved epitopes essential for viral function . unlike traditional vaccines that ‘ mimic ' viruses and elicit naturally occurring immune responses to them , our nanoparticles are engineered to elicit differentiated immune responses , which may be more efficacious than naturally-occurring immunity . our vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases . a current summary of our significant research and development programs , along with the programs of our joint venture , cplb , and status of the related products in development follows : program development stage funding collaborator respiratory syncytial virus ( rsv ) · older adults phase 3 · infants via maternal immunization phase 3 bmgf * · pediatrics phase 1 influenza · seasonal quadrivalent phase 2 hhs barda · pandemic h7n9 phase 2 hhs barda combination ( influenza/rsv ) preclinical ebola virus ( ebov ) phase 1 * as detailed herein , our funding and development arrangement with path expired in april 2015 ; we entered into a grant agreement with bmgf in september 2015. respiratory syncytial virus ( rsv ) we are developing our respiratory syncytial virus fusion ( f ) protein nanoparticle vaccine candidate ( “ rsv f vaccine ” ) for three susceptible target populations : older adults ( 60 years of age and older ) , infants via maternal immunization and children six months to five years of age ( “ pediatrics ” ) . we estimate rsv f vaccine peak revenue potential of six to eight billion dollars worldwide . currently there is no approved rsv vaccine available . 41 repeat infection and lifelong susceptibility to rsv are common and we currently estimate the global cost burden of rsv in excess of $ 88 billion . despite decades of effort to develop an rsv vaccine , there are currently no licensed vaccines . although the monoclonal antibody palivizumab ( synagis® ) is effective in pre-term infants , it is not indicated for use in other populations . novavax made a breakthrough in developing a vaccine that targets the fusion protein , or f-protein , of the virus . the f-protein has a highly conserved amino acid sequence called antigenic site ii , which we believe is an ideal vaccine target . palivizumab , which also targets antigenic site ii , has demonstrated protection in five randomized clinical trials . we genetically engineered a novel f-protein antigen and enhanced its immunogenicity by exposing antigenic site ii . novavax ' rsv f vaccine assembles into a recombinant protein nanoparticle optimized for f-protein antigen presentation . the rsv f vaccine elicits palivizumab-competing antibodies at levels that we expect to confer protection . the novavax rsv f vaccine is the first rsv vaccine to demonstrate efficacy in a clinical trial and novavax is positioned to bring the first rsv vaccine to market to combat the 64 million rsv infections that occur globally each year . story_separator_special_tag we expect to initiate a phase 1 clinical trial of a combination respiratory vaccine in the first half of 2017 . 45 ebola virus ( ebov ) ebov , formerly known as ebola hemorrhagic fever , is a severe , often fatal illness in humans . multiple strains of ebov have been identified , the most recent of which , the makona ebov strain , is associated with a case fatality rate of 50 % to 90 % . 38 there are currently no licensed treatments proven to neutralize the virus , but a range of blood , immunological and drug therapies are under development . despite the development of such therapies , current vaccine approaches target either a previous strain of the virus or were initially developed to be delivered by genetic vectors . in contrast , our ebov glycoprotein vaccine candidate ( “ ebola gp vaccine ” ) was developed using the makona ebov strain . in july 2015 , we announced data from our phase 1 clinical trial of our ebola gp vaccine in ascending doses , with and without our matrix-m adjuvant , in 230 healthy adults . participants received either one or two intramuscular injections ranging from 6.5µg to 50µg of antigen , with or without adjuvant , or placebo . immunogenicity was assessed at multiple time points , including days 28 and 35. these phase 1 data demonstrated that our ebola gp vaccine is highly immunogenic , well-tolerated and , in conjunction with our proprietary matrix-m adjuvant , resulted in significant antigen dose-sparing . although the adjuvanted ebola gp vaccine was highly immunogenic at all dose levels , the adjuvanted two-dose regimens induced ebola anti-gp antibody geometric mean responses between 45,000 and 70,000 elisa units , representing a 500 to 750-fold rise over baseline at day 35. in 2015 , we also announced successful data from two separate non-human primate challenge studies of our ebola gp vaccine in which , in both cases , the challenge was lethal for the control animal , whereas 100 % of the immunized animals were protected . cplb programs ( india ) cpl biologicals private limited ( “ cplb ” ) , our joint venture company with cadila pharmaceuticals limited ( “ cadila ” ) in india , is actively developing a number of vaccine candidates that were genetically engineered by us . cplb is owned 20 % by us and 80 % by cadila . cplb operates a manufacturing facility in india for the production of vaccines . seasonal influenza cplb received marketing authorization , the indian equivalent of approval of a biologics license application ( “ bla ” ) , for its recombinant trivalent seasonal vlp influenza vaccine in 2015. because the market for seasonal influenza in india is limited and highly competitive , cplb is currently evaluating its marketing strategy for this vaccine . rabies cplb successfully completed stage ii of its 2-stage phase 1/2 clinical trial in india of a rabies g protein vaccine candidate that we genetically engineered . the objective was to select a dose and regimen for a recombinant vaccine that can be administered both as a pre-exposure prophylaxis for residents of certain higher-risk geographies and travelers to such locations , and as a post-exposure prophylaxis using fewer doses than the current standard of care . in october 2014 , cplb presented clinical results from stage i of the phase 1/2 clinical trial , demonstrating that vaccine recipients , at various doses levels and schedules , showed seroprotective antibody levels at day 14 that were sustained through day 180. the vaccine candidate , which was found to be well-tolerated , also induced seroprotective levels with two-dose and three-dose regimens . cplb has received permission to conduct a phase 3 clinical trial and is considering the optimal schedule for its conduct . 38 who . http : //www.who.int/mediacentre/factsheets/fs103/en/ 46 discovery programs our vaccine platform technology provides an efficient system that has the potential to rapidly develop antigens to selected targets , refine manufacturing processes and optimize development across multiple vaccine candidates . in conjunction with government and or global health authorities , we believe we can address emerging disease threats with pandemic potential . in addition to our response to the h7n9 influenza strain , we have developed a vaccine candidate to middle east respiratory syndrome ( “ mers ” ) , caused by a novel coronavirus first identified in 2012. mers emerged as a disease threat in 2013 , and is currently being monitored by global health agencies , with the who reporting significant confirmed cases of infection and deaths . the mers virus is a part of the coronavirus family that includes the severe acute respiratory syndrome coronavirus ( “ sars ” ) . within weeks of obtaining the sequence of the circulating mers strain , we successfully produced a vaccine candidate designed to provide protection . this vaccine candidate is based on the major surface spike protein , which we had previously identified as the antigen of choice in our work with a sars vaccine candidate . in 2014 , in collaboration with the university of maryland , school of medicine , we published results that showed our investigational vaccine candidates against both mers and sars blocked infection in laboratory studies . although the development of a mers vaccine candidate currently remains a preclinical program , we believe that our mers vaccine candidate offers a viable option to interested global public health authorities . sales of common stock in march 2015 , we completed a public offering of 27,758,620 shares of our common stock , including 3,620,689 shares of common stock that were issued upon the exercise in full of the option to purchase additional shares granted to the underwriters , at a price of $ 7.25 per share resulting in net proceeds of approximately $ 190 million . in 2012 , we entered into an at market issuance sales agreement ( “ sales agreement ” ) , under

liquidity matters and capital resources our future capital requirements depend on numerous factors including , but not limited to , the commitments and progress of our research and development programs , the progress of preclinical and clinical testing , the time and costs involved in obtaining regulatory approvals , the costs of filing , prosecuting , defending and enforcing patent claims and other intellectual property rights and manufacturing costs . we plan to continue to have multiple vaccines and products in various stages of development , and we believe our operating expenses and capital requirements will fluctuate depending upon the timing of certain events , such as the scope , initiation , rate and progress of our preclinical studies and clinical trials and other research and development activities . as of december 31 , 2015 , we had $ 230.7 million in cash and cash equivalents and marketable securities as compared to $ 168.1 million as of december 31 , 2014. these amounts consisted of $ 93.1 million in cash and cash equivalents and $ 137.5 million in marketable securities as of december 31 , 2015 as compared to $ 32.3 million in cash and cash equivalents and $ 135.7 million in marketable securities as of december 31 , 2014. the following table summarizes cash flows for 2015 and 2014 ( in thousands ) : replace_table_token_10_th net cash used in operating activities increased to $ 126.1 million for 2015 , as compared to $ 67.0 million for 2014. the increase in cash usage was primarily due to increased research and development expenses relating to our rsv f vaccine , higher employee-related costs and timing of customer and vendor payments . 54 during 2015 and 2014 , our investing activities consisted primarily of purchases and maturities of marketable securities and capital expenditures . capital expenditures for 2015 and 2014 were $ 18.3 million and $ 7.3 million , respectively . the increase in capital expenditures was primarily due to the purchase of laboratory equipment for process development , analytical development and manufacturing scale-up required to support our maturing product portfolio .


 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 matters and capital resources our future capital requirements depend on numerous factors including , but not limited to , the commitments and progress of our research and development programs , the progress of preclinical and clinical testing , the time and costs involved in obtaining regulatory approvals , the costs of filing , prosecuting , defending and enforcing patent claims and other intellectual property rights and manufacturing costs . we plan to continue to have multiple vaccines and products in various stages of development , and we believe our operating expenses and capital requirements will fluctuate depending upon the timing of certain events , such as the scope , initiation , rate and progress of our preclinical studies and clinical trials and other research and development activities . as of december 31 , 2015 , we had $ 230.7 million in cash and cash equivalents and marketable securities as compared to $ 168.1 million as of december 31 , 2014. these amounts consisted of $ 93.1 million in cash and cash equivalents and $ 137.5 million in marketable securities as of december 31 , 2015 as compared to $ 32.3 million in cash and cash equivalents and $ 135.7 million in marketable securities as of december 31 , 2014. the following table summarizes cash flows for 2015 and 2014 ( in thousands ) : replace_table_token_10_th net cash used in operating activities increased to $ 126.1 million for 2015 , as compared to $ 67.0 million for 2014. the increase in cash usage was primarily due to increased research and development expenses relating to our rsv f vaccine , higher employee-related costs and timing of customer and vendor payments . 54 during 2015 and 2014 , our investing activities consisted primarily of purchases and maturities of marketable securities and capital expenditures . capital expenditures for 2015 and 2014 were $ 18.3 million and $ 7.3 million , respectively . the increase in capital expenditures was primarily due to the purchase of laboratory equipment for process development , analytical development and manufacturing scale-up required to support our maturing product portfolio .
```    
 Suspicious Activity Report : new factors emerge from time to time , and it is not possible for us to predict which factors will arise . in addition , we can not assess the impact of each factor on our business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . recent events in february 2016 , novavax completed the issuance of $ 325 million of 3.75 % convertible senior notes due in 2023 , resulting in net proceeds of approximately $ 315 million , after deducting initial purchasers ' discounts and commissions , and approximately $ 314 million after deducting offering expenses . we used approximately $ 38 million of the net proceeds to pay the costs of a capped call transaction , which will function to reduce dilution from issuance of additional shares upon conversion of the notes between the note conversion price of $ 6.81 and the cap price of $ 9.73 per share . the resulting final net proceeds to the company were approximately $ 276 million . our cash , cash equivalents and marketable securities on december 31 , 2015 of approximately $ 231 million , as adjusted to give effect to the final net proceeds of the convertible senior note offering of approximately $ 276 million , before giving effect to the anticipated use of the final net proceeds , would result in an as adjusted cash , cash equivalents and marketable securities balance of approximately $ 507 million . 40 overview we are a clinical-stage vaccine company focused on the discovery , development and commercialization of recombinant nanoparticle vaccines and adjuvants . using innovative proprietary recombinant nanoparticle vaccine platform technology , we produce vaccine candidates to efficiently and effectively respond to both known and emerging disease threats . our vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate recombinant proteins critical to disease pathogenesis . our product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus ( “ rsv ” ) , seasonal influenza , pandemic influenza and ebola virus ( “ ebov ” ) . we have additional preclinical stage programs for a variety of infectious diseases . we are also developing proprietary technology for the production of immune stimulating saponin-based adjuvants through our wholly owned swedish subsidiary , novavax ab . our lead adjuvant , matrix-m , has been successfully tested in a phase 1/2 clinical trial for our pandemic h7n9 influenza virus-like particle vaccine candidate , and in a phase 1 clinical trial for our ebov vaccine candidate . genocea biosciences , inc. ( “ genocea ” ) has licensed rights to our matrix technology and is now conducting phase 2 clinical trials with its herpes simplex 2 vaccine candidate using matrix-m. clinical product pipeline our clinical product pipeline includes vaccine candidates engineered to elicit differentiated immune responses with potential to provide increased protection . our nanoparticle technology platform targets antigens with conserved epitopes essential for viral function . unlike traditional vaccines that ‘ mimic ' viruses and elicit naturally occurring immune responses to them , our nanoparticles are engineered to elicit differentiated immune responses , which may be more efficacious than naturally-occurring immunity . our vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases . a current summary of our significant research and development programs , along with the programs of our joint venture , cplb , and status of the related products in development follows : program development stage funding collaborator respiratory syncytial virus ( rsv ) · older adults phase 3 · infants via maternal immunization phase 3 bmgf * · pediatrics phase 1 influenza · seasonal quadrivalent phase 2 hhs barda · pandemic h7n9 phase 2 hhs barda combination ( influenza/rsv ) preclinical ebola virus ( ebov ) phase 1 * as detailed herein , our funding and development arrangement with path expired in april 2015 ; we entered into a grant agreement with bmgf in september 2015. respiratory syncytial virus ( rsv ) we are developing our respiratory syncytial virus fusion ( f ) protein nanoparticle vaccine candidate ( “ rsv f vaccine ” ) for three susceptible target populations : older adults ( 60 years of age and older ) , infants via maternal immunization and children six months to five years of age ( “ pediatrics ” ) . we estimate rsv f vaccine peak revenue potential of six to eight billion dollars worldwide . currently there is no approved rsv vaccine available . 41 repeat infection and lifelong susceptibility to rsv are common and we currently estimate the global cost burden of rsv in excess of $ 88 billion . despite decades of effort to develop an rsv vaccine , there are currently no licensed vaccines . although the monoclonal antibody palivizumab ( synagis® ) is effective in pre-term infants , it is not indicated for use in other populations . novavax made a breakthrough in developing a vaccine that targets the fusion protein , or f-protein , of the virus . the f-protein has a highly conserved amino acid sequence called antigenic site ii , which we believe is an ideal vaccine target . palivizumab , which also targets antigenic site ii , has demonstrated protection in five randomized clinical trials . we genetically engineered a novel f-protein antigen and enhanced its immunogenicity by exposing antigenic site ii . novavax ' rsv f vaccine assembles into a recombinant protein nanoparticle optimized for f-protein antigen presentation . the rsv f vaccine elicits palivizumab-competing antibodies at levels that we expect to confer protection . the novavax rsv f vaccine is the first rsv vaccine to demonstrate efficacy in a clinical trial and novavax is positioned to bring the first rsv vaccine to market to combat the 64 million rsv infections that occur globally each year . story_separator_special_tag we expect to initiate a phase 1 clinical trial of a combination respiratory vaccine in the first half of 2017 . 45 ebola virus ( ebov ) ebov , formerly known as ebola hemorrhagic fever , is a severe , often fatal illness in humans . multiple strains of ebov have been identified , the most recent of which , the makona ebov strain , is associated with a case fatality rate of 50 % to 90 % . 38 there are currently no licensed treatments proven to neutralize the virus , but a range of blood , immunological and drug therapies are under development . despite the development of such therapies , current vaccine approaches target either a previous strain of the virus or were initially developed to be delivered by genetic vectors . in contrast , our ebov glycoprotein vaccine candidate ( “ ebola gp vaccine ” ) was developed using the makona ebov strain . in july 2015 , we announced data from our phase 1 clinical trial of our ebola gp vaccine in ascending doses , with and without our matrix-m adjuvant , in 230 healthy adults . participants received either one or two intramuscular injections ranging from 6.5µg to 50µg of antigen , with or without adjuvant , or placebo . immunogenicity was assessed at multiple time points , including days 28 and 35. these phase 1 data demonstrated that our ebola gp vaccine is highly immunogenic , well-tolerated and , in conjunction with our proprietary matrix-m adjuvant , resulted in significant antigen dose-sparing . although the adjuvanted ebola gp vaccine was highly immunogenic at all dose levels , the adjuvanted two-dose regimens induced ebola anti-gp antibody geometric mean responses between 45,000 and 70,000 elisa units , representing a 500 to 750-fold rise over baseline at day 35. in 2015 , we also announced successful data from two separate non-human primate challenge studies of our ebola gp vaccine in which , in both cases , the challenge was lethal for the control animal , whereas 100 % of the immunized animals were protected . cplb programs ( india ) cpl biologicals private limited ( “ cplb ” ) , our joint venture company with cadila pharmaceuticals limited ( “ cadila ” ) in india , is actively developing a number of vaccine candidates that were genetically engineered by us . cplb is owned 20 % by us and 80 % by cadila . cplb operates a manufacturing facility in india for the production of vaccines . seasonal influenza cplb received marketing authorization , the indian equivalent of approval of a biologics license application ( “ bla ” ) , for its recombinant trivalent seasonal vlp influenza vaccine in 2015. because the market for seasonal influenza in india is limited and highly competitive , cplb is currently evaluating its marketing strategy for this vaccine . rabies cplb successfully completed stage ii of its 2-stage phase 1/2 clinical trial in india of a rabies g protein vaccine candidate that we genetically engineered . the objective was to select a dose and regimen for a recombinant vaccine that can be administered both as a pre-exposure prophylaxis for residents of certain higher-risk geographies and travelers to such locations , and as a post-exposure prophylaxis using fewer doses than the current standard of care . in october 2014 , cplb presented clinical results from stage i of the phase 1/2 clinical trial , demonstrating that vaccine recipients , at various doses levels and schedules , showed seroprotective antibody levels at day 14 that were sustained through day 180. the vaccine candidate , which was found to be well-tolerated , also induced seroprotective levels with two-dose and three-dose regimens . cplb has received permission to conduct a phase 3 clinical trial and is considering the optimal schedule for its conduct . 38 who . http : //www.who.int/mediacentre/factsheets/fs103/en/ 46 discovery programs our vaccine platform technology provides an efficient system that has the potential to rapidly develop antigens to selected targets , refine manufacturing processes and optimize development across multiple vaccine candidates . in conjunction with government and or global health authorities , we believe we can address emerging disease threats with pandemic potential . in addition to our response to the h7n9 influenza strain , we have developed a vaccine candidate to middle east respiratory syndrome ( “ mers ” ) , caused by a novel coronavirus first identified in 2012. mers emerged as a disease threat in 2013 , and is currently being monitored by global health agencies , with the who reporting significant confirmed cases of infection and deaths . the mers virus is a part of the coronavirus family that includes the severe acute respiratory syndrome coronavirus ( “ sars ” ) . within weeks of obtaining the sequence of the circulating mers strain , we successfully produced a vaccine candidate designed to provide protection . this vaccine candidate is based on the major surface spike protein , which we had previously identified as the antigen of choice in our work with a sars vaccine candidate . in 2014 , in collaboration with the university of maryland , school of medicine , we published results that showed our investigational vaccine candidates against both mers and sars blocked infection in laboratory studies . although the development of a mers vaccine candidate currently remains a preclinical program , we believe that our mers vaccine candidate offers a viable option to interested global public health authorities . sales of common stock in march 2015 , we completed a public offering of 27,758,620 shares of our common stock , including 3,620,689 shares of common stock that were issued upon the exercise in full of the option to purchase additional shares granted to the underwriters , at a price of $ 7.25 per share resulting in net proceeds of approximately $ 190 million . in 2012 , we entered into an at market issuance sales agreement ( “ sales agreement ” ) , under

