the baton trials include baton-rcc , a phase 2 exploratory biomarker study in patients with advanced rcc , which completed enrollment in early 2012. the second baton study underway is baton-crc , a phase 2 clinical trial evaluating tivozanib in combination with modified folfox6 ( mfolfox6 ) compared to avastin ® ( bevacizumab ) in combination with mfolfox6 as first-line therapy in patients with advanced metastatic colorectal cancer , or crc . additionally , we expect to initiate further clinical evaluation of tivozanib in breast cancer in 2012 as part of our baton program . 79 we expect that the results of all of our phase 1 and phase 2 trials will help to inform our clinical development plans for tivozanib as a monotherapy and in combination with other anti-cancer therapies in multiple cancer indications . we acquired exclusive rights to develop and commercialize tivozanib worldwide outside of asia pursuant to a license agreement we entered into with kirin brewery co. ltd. ( now kyowa hakko kirin ) , or khk , in 2006. under the license agreement , we obtained an exclusive license to research , develop , manufacture and commercialize tivozanib , pharmaceutical compositions thereof and associated biomarkers for the diagnosis , prevention and treatment of any and all human diseases and conditions outside of asia . khk has retained all rights to tivozanib in asia . we have obligations to make milestone and royalty payments to khk . the royalty rates range from the low to mid-teens as a percentage of our net sales of tivozanib . we are also obligated to pay a specified percentage of certain amounts we receive from any third party sublicensees , including astellas . as discussed below under the heading strategic partnerships ,  we entered into a strategic collaboration with astellas in which we have agreed to share responsibility , including all profits and losses , with astellas for continued development and commercialization of tivozanib in north america and europe . throughout the rest of the world , outside of north america , europe and asia , we granted astellas an exclusive , royalty-bearing license to develop and commercialize tivozanib . in addition to tivozanib , we have a pipeline of monoclonal antibodies derived from our proprietary human response platform . ficlatuzumab , our next most advanced product candidate , is an antibody which binds to hepatocyte growth factor , or hgf , thereby blocking its function . we have completed two phase 1 clinical trials of ficlatuzumab demonstrating the ability to combine ficlatuzumab with epidermal growth factor receptor , or egfr , inhibitors tarceva ® and iressa ® . in may 2010 , we initiated a phase 2 clinical trial evaluating ficlatuzumab in patients with non-small cell lung cancer . this is a first-line study comparing ficlatuzumab in combination with iressa versus iressa monotherapy . we anticipate announcing data from the ficlatuzumab phase 2 trial in the second half of 2012. we have also identified a number of other promising targets for the development of novel cancer therapeutics using our human response platform . we have preclinical and discovery antibody programs underway focused on targets that appear to be important drivers of tumor growth , including our third clinical candidate av-203 , which targets the erbb3 receptor ( partnered with biogen idec , inc. , or biogen idec ) , as well as programs directed toward the ron receptor ( recepteur d'origine nantais ) ( partnered with centocor ortho biotech inc. , or centocor ) . we expect to initiate clinical development with av-203 in the first half of 2012. our proprietary human response platform was designed to overcome many of the limitations of traditional approaches to modeling human cancer . the traditional method of modeling human cancer uses a model referred to as a xenograft . a xenograft model is created by adapting cells from a human tumor to grow in a petri dish , and then injecting these cells in a mouse , where they grow into tumors . however , the resulting tumors differ from the original tumor in important respects , and , accordingly , xenograft models are often poor predictors of the success of cancer drugs in human clinical trials . in our human response platform , we use patented genetic engineering techniques to grow populations of spontaneous tumors in animals containing human-relevant , cancer-causing mutations and tumor variation akin to what is seen in populations of human tumors . because we believe that these populations of tumors better replicate what is seen in human cancer , we believe that our human response platform provides us with unique insights into cancer biology and mechanisms of drug response and resistance , and represents a significant improvement over traditional approaches . we are utilizing this human response platform alone and with our strategic partners to ( i ) identify and validate target genes which drive tumor growth , ( ii ) evaluate drugs which can block the function of these targets and ( iii ) identify biomarkers , which are indicators of drug response and resistance in patients , in an effort to evaluate which patients are most likely to respond favorably to treatment with such drugs . the potential identification and development of relevant biomarkers through our human response platform is a core component of our oncology drug development efforts . our goal is to utilize the biomarker data from baton-crc and other baton clinical trials to further inform our clinical development strategy . 80 we have devoted substantially all of our resources to our drug discovery efforts comprising research and development , conducting clinical trials for our product candidates , protecting our intellectual property and the general and administrative support of these operations . story_separator_special_tag we allocated $ 120.2 million of the up-front consideration from astellas to the co-exclusive license in north america and europe and $ 4.8 million of the up-front consideration from astellas to the combined deliverable representing a royalty-bearing license to develop and commercialize tivozanib in the royalty-bearing territory along with our obligation to provide access to clinical and regulatory information resulting from the activities in north america and europe to astellas for its use in the royalty-bearing territory . the relative selling price for our obligation to supply clinical material to astellas for development in the royalty-bearing territory had de minimus value . we recorded the $ 120.2 million relative selling price of the co-exclusive license granted in north america and europe as collaboration revenue during the three months ended march 31 , 2011 upon delivery of the license , and deferred approximately $ 4.8 million of revenue representing the relative selling price of the royalty-bearing license to develop and commercialize tivozanib in the royalty-bearing territory along with our obligation to 84 provide access to clinical and regulatory information resulting from the activities in north america and europe to astellas for its use in the royalty-bearing territory . we are recording the $ 4.8 million ratably over our period of performance through april 2022 , the remaining patent life of tivozanib . we estimated the period of performance considering that we plan to develop tivozanib with astellas in several indications outside of rcc , including in breast cancer and colorectal cancer and potentially in other cancer indications . the clinical development of tivozanib in these indications is in earlier stages of development and , as a result , the clinical development timeline is uncertain and is expected to change as we obtain additional clinical data in these indications . as a result , we estimated the period of performance as the remaining patent life of tivozanib as it represents the longest period over which development of tivozanib could occur . we reassess the period of performance at each reporting period . we recorded approximately $ 376,000 of revenue during the year ended december 31 , 2011 associated with the royalty territory deliverable . centocor ortho biotech in may 2011 , we entered into an exclusive license agreement with centocor for the worldwide development and commercialization of our internally-discovered antibodies targeting the ron receptor , including the grant to centocor of an exclusive , worldwide license to our proprietary ron-driven tumor models . we also granted centocor a nonexclusive , non-sublicensable , worldwide license to our proprietary list of human genes intended to predict correlation of response to ron-targeted antibodies , or our ron index . centocor is responsible for all clinical development , manufacturing and commercialization activities and costs . subject to an agreed-upon research plan and budget , centocor will also fund certain research for a three-year term to be conducted by us , including translational research studies using our proprietary human response platform to identify biomarkers for patients most likely to benefit from treatment with ron targeted antibodies . in connection with the centocor license agreement , we received a one-time cash payment in the amount of $ 7.5 million and a separate equity investment in the amount of approximately $ 7.5 million through the purchase by johnson & johnson development corporation , an affiliate of centocor , of 438,340 newly issued shares of our common stock at a purchase price of $ 17.11 per share . centocor also agreed to fund certain research and development activities . milestone payments for the successful development and commercialization of a ron-targeted antibody , if all approvals in multiple indications and all sales milestones are achieved , could total , in the aggregate , $ 540 million , comprised of ( i ) up to $ 40 million in substantive milestone payments upon achievement of specified clinical and development milestone events , ( ii ) up to $ 165 million in substantive milestone payments upon achievement of specified regulatory milestone events in connection with specified regulatory filings , and receipt of marketing approvals , and ( iii ) up to $ 335 million in milestone payments upon the achievement of specified sales events . we could earn the first clinical and development milestone of $ 2.0 million under the centocor license agreement upon the selection of a lead antibody for entry into pre-clinical studies , with respect to the first licensed product under the agreement . we expect to achieve this milestone during the year ending december 31 , 2012. upon commercialization , we are eligible to receive tiered double-digit royalty payments on centocor 's net sales of any ron-targeted antibody , as a percentage of net sales . centocor 's royalty obligations in a particular country begin on the date of first commercial sale of a product in that country , and end on the later of 10 years after the date of first commercial sale of the product in that country or the date of the last to expire of the issued patents covering the product in that country . all milestone payments and royalties will be reduced by a specified percentage if centocor develops or commercializes a ron-targeted antibody which has incorporated significant , meaningful improvements made after a specified period by centocor to the antibodies delivered by us . the royalties will also be reduced by a specified percentage on a country-by-country basis upon the entry of a generic competitor . the centocor license agreement will remain in effect until the expiration of all of centocor 's royalty obligations to us , determined on a product-by-product and country-by-country basis . prior to the filing of an investigational new drug application with the fda , or a similar application filed with another regulatory authority outside of the united states ( which we refer to as ind submission ) , centocor has the right to terminate the centocor license agreement at will upon 90 days written notice to us .

liquidity and capital resources we have funded our operations principally through the sale of equity securities sold in connection with our public offerings , private placements of equity securities , revenue and expense reimbursements from strategic partnerships , debt financing and interest income . as of december 31 , 2011 , we have received gross proceeds of $ 89.7 million from the sale of common stock in our initial public offering , $ 60.8 million from our private placement of shares of our common stock to a group of institutional and accredited investors , $ 111.2 million from our follow-on offering of shares of our common stock , $ 169.6 million from the sale of convertible preferred stock prior to becoming a public company , and $ 7.5 million from the sale of common stock to johnson & johnson development corporation in connection with the centocor license agreement . as of december 31 , 2011 , we had received an aggregate of $ 311.2 million in cash from each of our three agreements with merck and our agreements with osi pharmaceuticals , biogen idec , astellas , centocor and eli lilly , and $ 25.0 million in funding from our debt financing with hercules technology growth and certain of its affiliates . as of december 31 , 2011 , we had cash , cash equivalents and marketable securities of approximately $ 275.4 million . currently , our funds are invested in a money market fund , u.s. government agency securities , a foreign government bond , an asset-backed security , and corporate debt securities , including commercial paper . the following table sets forth the primary sources and uses of cash for each of the periods set forth below : replace_table_token_13_th during the years ended december 31 , 2011 , 2010 and 2009 , our operating activities provided ( used ) cash of $ 26.5 million , $ ( 51.8 ) million and $ ( 10.0 ) million , respectively .


 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 we have funded our operations principally through the sale of equity securities sold in connection with our public offerings , private placements of equity securities , revenue and expense reimbursements from strategic partnerships , debt financing and interest income . as of december 31 , 2011 , we have received gross proceeds of $ 89.7 million from the sale of common stock in our initial public offering , $ 60.8 million from our private placement of shares of our common stock to a group of institutional and accredited investors , $ 111.2 million from our follow-on offering of shares of our common stock , $ 169.6 million from the sale of convertible preferred stock prior to becoming a public company , and $ 7.5 million from the sale of common stock to johnson & johnson development corporation in connection with the centocor license agreement . as of december 31 , 2011 , we had received an aggregate of $ 311.2 million in cash from each of our three agreements with merck and our agreements with osi pharmaceuticals , biogen idec , astellas , centocor and eli lilly , and $ 25.0 million in funding from our debt financing with hercules technology growth and certain of its affiliates . as of december 31 , 2011 , we had cash , cash equivalents and marketable securities of approximately $ 275.4 million . currently , our funds are invested in a money market fund , u.s. government agency securities , a foreign government bond , an asset-backed security , and corporate debt securities , including commercial paper . the following table sets forth the primary sources and uses of cash for each of the periods set forth below : replace_table_token_13_th during the years ended december 31 , 2011 , 2010 and 2009 , our operating activities provided ( used ) cash of $ 26.5 million , $ ( 51.8 ) million and $ ( 10.0 ) million , respectively .
```    
 Suspicious Activity Report : the baton trials include baton-rcc , a phase 2 exploratory biomarker study in patients with advanced rcc , which completed enrollment in early 2012. the second baton study underway is baton-crc , a phase 2 clinical trial evaluating tivozanib in combination with modified folfox6 ( mfolfox6 ) compared to avastin ® ( bevacizumab ) in combination with mfolfox6 as first-line therapy in patients with advanced metastatic colorectal cancer , or crc . additionally , we expect to initiate further clinical evaluation of tivozanib in breast cancer in 2012 as part of our baton program . 79 we expect that the results of all of our phase 1 and phase 2 trials will help to inform our clinical development plans for tivozanib as a monotherapy and in combination with other anti-cancer therapies in multiple cancer indications . we acquired exclusive rights to develop and commercialize tivozanib worldwide outside of asia pursuant to a license agreement we entered into with kirin brewery co. ltd. ( now kyowa hakko kirin ) , or khk , in 2006. under the license agreement , we obtained an exclusive license to research , develop , manufacture and commercialize tivozanib , pharmaceutical compositions thereof and associated biomarkers for the diagnosis , prevention and treatment of any and all human diseases and conditions outside of asia . khk has retained all rights to tivozanib in asia . we have obligations to make milestone and royalty payments to khk . the royalty rates range from the low to mid-teens as a percentage of our net sales of tivozanib . we are also obligated to pay a specified percentage of certain amounts we receive from any third party sublicensees , including astellas . as discussed below under the heading strategic partnerships ,  we entered into a strategic collaboration with astellas in which we have agreed to share responsibility , including all profits and losses , with astellas for continued development and commercialization of tivozanib in north america and europe . throughout the rest of the world , outside of north america , europe and asia , we granted astellas an exclusive , royalty-bearing license to develop and commercialize tivozanib . in addition to tivozanib , we have a pipeline of monoclonal antibodies derived from our proprietary human response platform . ficlatuzumab , our next most advanced product candidate , is an antibody which binds to hepatocyte growth factor , or hgf , thereby blocking its function . we have completed two phase 1 clinical trials of ficlatuzumab demonstrating the ability to combine ficlatuzumab with epidermal growth factor receptor , or egfr , inhibitors tarceva ® and iressa ® . in may 2010 , we initiated a phase 2 clinical trial evaluating ficlatuzumab in patients with non-small cell lung cancer . this is a first-line study comparing ficlatuzumab in combination with iressa versus iressa monotherapy . we anticipate announcing data from the ficlatuzumab phase 2 trial in the second half of 2012. we have also identified a number of other promising targets for the development of novel cancer therapeutics using our human response platform . we have preclinical and discovery antibody programs underway focused on targets that appear to be important drivers of tumor growth , including our third clinical candidate av-203 , which targets the erbb3 receptor ( partnered with biogen idec , inc. , or biogen idec ) , as well as programs directed toward the ron receptor ( recepteur d'origine nantais ) ( partnered with centocor ortho biotech inc. , or centocor ) . we expect to initiate clinical development with av-203 in the first half of 2012. our proprietary human response platform was designed to overcome many of the limitations of traditional approaches to modeling human cancer . the traditional method of modeling human cancer uses a model referred to as a xenograft . a xenograft model is created by adapting cells from a human tumor to grow in a petri dish , and then injecting these cells in a mouse , where they grow into tumors . however , the resulting tumors differ from the original tumor in important respects , and , accordingly , xenograft models are often poor predictors of the success of cancer drugs in human clinical trials . in our human response platform , we use patented genetic engineering techniques to grow populations of spontaneous tumors in animals containing human-relevant , cancer-causing mutations and tumor variation akin to what is seen in populations of human tumors . because we believe that these populations of tumors better replicate what is seen in human cancer , we believe that our human response platform provides us with unique insights into cancer biology and mechanisms of drug response and resistance , and represents a significant improvement over traditional approaches . we are utilizing this human response platform alone and with our strategic partners to ( i ) identify and validate target genes which drive tumor growth , ( ii ) evaluate drugs which can block the function of these targets and ( iii ) identify biomarkers , which are indicators of drug response and resistance in patients , in an effort to evaluate which patients are most likely to respond favorably to treatment with such drugs . the potential identification and development of relevant biomarkers through our human response platform is a core component of our oncology drug development efforts . our goal is to utilize the biomarker data from baton-crc and other baton clinical trials to further inform our clinical development strategy . 80 we have devoted substantially all of our resources to our drug discovery efforts comprising research and development , conducting clinical trials for our product candidates , protecting our intellectual property and the general and administrative support of these operations . story_separator_special_tag we allocated $ 120.2 million of the up-front consideration from astellas to the co-exclusive license in north america and europe and $ 4.8 million of the up-front consideration from astellas to the combined deliverable representing a royalty-bearing license to develop and commercialize tivozanib in the royalty-bearing territory along with our obligation to provide access to clinical and regulatory information resulting from the activities in north america and europe to astellas for its use in the royalty-bearing territory . the relative selling price for our obligation to supply clinical material to astellas for development in the royalty-bearing territory had de minimus value . we recorded the $ 120.2 million relative selling price of the co-exclusive license granted in north america and europe as collaboration revenue during the three months ended march 31 , 2011 upon delivery of the license , and deferred approximately $ 4.8 million of revenue representing the relative selling price of the royalty-bearing license to develop and commercialize tivozanib in the royalty-bearing territory along with our obligation to 84 provide access to clinical and regulatory information resulting from the activities in north america and europe to astellas for its use in the royalty-bearing territory . we are recording the $ 4.8 million ratably over our period of performance through april 2022 , the remaining patent life of tivozanib . we estimated the period of performance considering that we plan to develop tivozanib with astellas in several indications outside of rcc , including in breast cancer and colorectal cancer and potentially in other cancer indications . the clinical development of tivozanib in these indications is in earlier stages of development and , as a result , the clinical development timeline is uncertain and is expected to change as we obtain additional clinical data in these indications . as a result , we estimated the period of performance as the remaining patent life of tivozanib as it represents the longest period over which development of tivozanib could occur . we reassess the period of performance at each reporting period . we recorded approximately $ 376,000 of revenue during the year ended december 31 , 2011 associated with the royalty territory deliverable . centocor ortho biotech in may 2011 , we entered into an exclusive license agreement with centocor for the worldwide development and commercialization of our internally-discovered antibodies targeting the ron receptor , including the grant to centocor of an exclusive , worldwide license to our proprietary ron-driven tumor models . we also granted centocor a nonexclusive , non-sublicensable , worldwide license to our proprietary list of human genes intended to predict correlation of response to ron-targeted antibodies , or our ron index . centocor is responsible for all clinical development , manufacturing and commercialization activities and costs . subject to an agreed-upon research plan and budget , centocor will also fund certain research for a three-year term to be conducted by us , including translational research studies using our proprietary human response platform to identify biomarkers for patients most likely to benefit from treatment with ron targeted antibodies . in connection with the centocor license agreement , we received a one-time cash payment in the amount of $ 7.5 million and a separate equity investment in the amount of approximately $ 7.5 million through the purchase by johnson & johnson development corporation , an affiliate of centocor , of 438,340 newly issued shares of our common stock at a purchase price of $ 17.11 per share . centocor also agreed to fund certain research and development activities . milestone payments for the successful development and commercialization of a ron-targeted antibody , if all approvals in multiple indications and all sales milestones are achieved , could total , in the aggregate , $ 540 million , comprised of ( i ) up to $ 40 million in substantive milestone payments upon achievement of specified clinical and development milestone events , ( ii ) up to $ 165 million in substantive milestone payments upon achievement of specified regulatory milestone events in connection with specified regulatory filings , and receipt of marketing approvals , and ( iii ) up to $ 335 million in milestone payments upon the achievement of specified sales events . we could earn the first clinical and development milestone of $ 2.0 million under the centocor license agreement upon the selection of a lead antibody for entry into pre-clinical studies , with respect to the first licensed product under the agreement . we expect to achieve this milestone during the year ending december 31 , 2012. upon commercialization , we are eligible to receive tiered double-digit royalty payments on centocor 's net sales of any ron-targeted antibody , as a percentage of net sales . centocor 's royalty obligations in a particular country begin on the date of first commercial sale of a product in that country , and end on the later of 10 years after the date of first commercial sale of the product in that country or the date of the last to expire of the issued patents covering the product in that country . all milestone payments and royalties will be reduced by a specified percentage if centocor develops or commercializes a ron-targeted antibody which has incorporated significant , meaningful improvements made after a specified period by centocor to the antibodies delivered by us . the royalties will also be reduced by a specified percentage on a country-by-country basis upon the entry of a generic competitor . the centocor license agreement will remain in effect until the expiration of all of centocor 's royalty obligations to us , determined on a product-by-product and country-by-country basis . prior to the filing of an investigational new drug application with the fda , or a similar application filed with another regulatory authority outside of the united states ( which we refer to as ind submission ) , centocor has the right to terminate the centocor license agreement at will upon 90 days written notice to us .

