we are analyzing the data set from this trial and will determine the next steps in our program following completion of this analysis . we are also pursuing clinical development of lumateperone for the treatment of additional cns diseases and disorders . at the lowest doses , lumateperone has been demonstrated to act primarily as a potent 5-ht2a serotonin receptor antagonist . as the dose is increased , additional benefits are derived from the engagement of additional drug targets , including modest dopamine receptor modulation and modest inhibition of serotonin transporters . we believe that combined interactions at these receptors may provide additional benefits above and beyond selective 5-ht2a antagonism for treating agitation , aggression and sleep disturbances in diseases that include dementia , ad , huntington 's disease and autism spectrum disorders , while avoiding many of the side effects associated with more robust dopamine receptor antagonism . as the dose of lumateperone is further increased , leading to moderate dopamine receptor modulation , inhibition of serotonin transporters , and indirect glutamate modulation , these actions complement the complete blockade of 5-ht2a serotonin receptors . at a dose of 60 mg , iti-007 has been shown effective in treating the symptoms associated with schizophrenia , and we believe this higher dose range will be useful for the treatment of bipolar disorder , depressive disorders and other neuropsychiatric diseases . within the iti-007 portfolio , we are also developing a long-acting injectable formulation to provide more treatment options to patients suffering from mental illness . given the encouraging tolerability data to date with oral lumateperone , we believe that a long-acting injectable option , in particular , may lend itself to being an important formulation choice for patients . given the potential utility for lumateperone and follow-on compounds to treat these additional indications , we may investigate , either on our own or with a partner , agitation , aggression and sleep disturbances in additional diseases that include autism spectrum disorders , depressive disorder , intermittent explosive disorder , non-motor symptoms and motor complications associated with parkinson 's disease , and post-traumatic stress disorder . we hold exclusive , worldwide commercialization rights to lumateperone and a family of compounds from bristol-myers squibb company pursuant to an exclusive license . we have a second major program called iti-002 that has yielded a portfolio of compounds that selectively inhibits the enzyme phosphodiesterase type 1 , or pde1 . iti-214 is our lead compound in this program . we believe iti-214 is the first compound in its class to successfully advance into phase 1 clinical trials . we intend to pursue the development of our pde program , including iti-214 for the treatment of several cns and non-cns conditions , including cardiovascular disease . following the positive safety and tolerability results in our phase 1 program , we initiated our development program for iti-214 for parkinson 's disease and commenced patient enrollment in the third quarter of 2017 in a phase 1/2 clinical trial of iti-214 in patients with parkinson 's disease to evaluate safety and tolerability in this patient population , as well as motor and non-motor exploratory endpoints . in the fourth quarter of 2018 , we announced that the phase 1/2 clinical trial of iti-214 has been completed and topline results demonstrated iti-214 was generally well-tolerated with a favorable safety profile and clinical signs consistent with improvements in motor symptoms and dyskinesias . in addition , in the first quarter of 2018 , the investigational new drug application , or ind , went into effect for iti-214 for the treatment of heart failure . we have initiated clinical conduct of the first clinical study in this program , a randomized , double-blind , placebo-controlled study of escalating single doses of iti-214 to evaluate safety and hemodynamic effects in patients with systolic heart failure . our pipeline also includes preclinical programs that are focused on advancing drugs for the treatment of schizophrenia , parkinson 's disease , ad and other neuropsychiatric and neurodegenerative disorders . we are also investigating the development of treatments for disease modification of neurodegenerative disorders and non-cns diseases , including our iti-333 development program . iti-333 is designed as a potential treatment for 65 substance use disorders , pain and psychiatric comorbidities including depression and anxiety . there is a pressing need to develop new drugs to treat opioid addiction and safe , effective , non-addictive treatments to manage pain . we believe the potential exists for iti-333 to address these challenges . preclinical safety studies with iti-333 are currently ongoing and we expect to initiate a clinical program in 2019. results of operations the following discussion summarizes the key factors our management believes are necessary for an understanding of our financial statements . revenues we have not generated any revenue from product sales to date and we do not expect to generate revenues from product sales until at least the fourth quarter of 2019 , if ever . we had no revenues for the year ended december 31 , 2018 , and our revenues for the year ended december 31 , 2017 were from a government grant . we have received and may continue to receive grants from u.s. government agencies and foundations . we do not expect any revenues that we may generate in the next several years to be significant enough to fund our operations . expenses the process of researching and developing drugs for human use is lengthy , unpredictable and subject to many risks . we are unable with certainty to estimate either the costs or the timelines in which those costs will be incurred . the clinical development of lumateperone for the treatment of schizophrenia and for the treatment of bipolar depression consumes and , together with our anticipated clinical development programs for depressive disorders and iti-214 , will continue to consume a large portion of our current , as well as projected , resources . story_separator_special_tag 70 general and administrative expenses general and administrative expenses decreased for the year ended december 31 , 2017 as compared to the year ended december 31 , 2016 by approximately $ 1.1 million , or 4.4 % , primarily due to a decrease of approximately $ 1.5 million of marketing and consulting costs in 2017 compared to 2016 , offset by higher capital tax expense in 2017. salaries , bonuses , share based compensation and related benefit costs for our executive , finance and administrative functions for the years ended december 31 , 2017 and 2016 were approximately 62 % and 61 % , respectively , of our total general and administrative costs . our other general and administrative expenses include patent costs and other professional fees and , to a lesser extent , general office-related overhead . interest income interest income has increased to approximately $ 4.0 million from $ 2.9 million for the year ended december 31 , 2017 as compared to the year ended december 31 , 2016. this increase is primarily a result of higher than average cash balances and rising interest rates in 2017 as compared to 2016. the higher balances in 2017 were primarily due to the net offering proceeds of $ 162.1 million that we received in october 2017 and is offset partially by the $ 80.5 million of cash and investments utilized in 2017. income taxes in september 2016 , we licensed certain intellectual property rights to its wholly-owned subsidiary , iti limited , which was formed in the third quarter of 2016. although the license of intellectual property rights did not result in any gain or loss in the consolidated statements of operations , the transaction generated taxable net income in the u.s in 2016. we utilized a portion of our available federal and state net operating loss carryforwards to offset the majority of this net income but incurred approximately $ 1.1 million of alternative minimum tax related to intercompany transactions that were treated as tax expense in our consolidated statement of operations in 2016. in december 2017 the tax cuts and jobs act law was passed which will allow the company to receive a refund in future periods for these taxes paid . the company therefore recognized a benefit of approximately $ 1.1 million for these taxes in december 2017. story_separator_special_tag warrants , rights , purchase contracts and or units from time to time and at prices and on terms that we may determine . after the public offering in october 2017 , approximately $ 178 million of securities remain available for issuance under this shelf registration statement . this registration statement will remain in effect for up to three years from the date it was declared effective . we can not be sure that future funding will be available to us when we need it on terms that are acceptable to us , or at all . we sell securities and incur debt when the terms of such transactions are deemed favorable to us and as necessary to fund our current and projected cash needs . the amount of funding we raise through sales of our common stock or other securities depends on many factors , including , but not limited to , the status and progress of our product development programs , projected cash needs , availability of funding from other sources , our stock price and the status of the capital markets . due to the volatile nature of the financial markets , equity and debt financing may be difficult to obtain . in addition , any unfavorable development or delay in the progress of our lumateperone program could have a material adverse impact on our ability to raise additional capital . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interest of our existing stockholders will be diluted , and the terms may include liquidation or other preferences that adversely affect the rights of our stockholders . debt financing , if available , may involve agreements that include covenants limiting or restricting our ability to take specific actions , such as incurring debt , making capital expenditures or declaring dividends . if we raise additional funds through government or other third-party funding , marketing and distribution arrangements or other collaborations , strategic alliances or licensing arrangements with third parties , we may have to relinquish valuable rights to our technologies , future revenue streams , research programs or product candidates or to grant licenses on terms that may not be favorable to us . if adequate funds are not available to us on a timely basis , we may be required to : ( 1 ) delay , limit , reduce or terminate pre-clinical studies , clinical trials or other clinical development activities for one or more of our product candidates , including our lead product candidate lumateperone , iti-214 , and our other pre-clinical stage product candidates ; ( 2 ) delay , limit , reduce or terminate our discovery research or pre-clinical development activities ; or ( 3 ) enter into licenses or other arrangements with third parties on terms that may be unfavorable to us or sell , license or relinquish rights to develop or commercialize our product candidates , technologies or intellectual property at an earlier stage of development and on less favorable terms than we would otherwise agree . our cash is maintained in checking accounts , money market accounts , money market mutual funds , u.s. government agency securities , certificates of deposit , commercial paper , corporate notes and corporate bonds at major financial institutions . due to the current low interest rates available for these instruments , we are earning limited interest income . we do not expect interest income to be a significant source of funding over the next several quarters . our investment portfolio has not been adversely impacted by the problems in the credit

liquidity and capital resources through december 31 , 2018 , we provided funds for our operations by obtaining approximately $ 880.3 million of cash primarily through public and private offerings of our common stock and other securities , grants from government agencies and foundations and payments received under the terminated takeda license agreement . we do not believe that grant revenue will be a significant source of funding in the near future . on october 2 , 2017 , we completed a public offering of 9,677,419 shares of our common stock for aggregate gross proceeds of approximately $ 150 million and net proceeds of approximately $ 140.6 million . on october 5 , 2017 , the underwriters exercised in full their option to purchase an additional 1,451,613 shares . all of the shares in the offering were sold by the company , with gross proceeds to the company of approximately $ 172 million from the offering of an aggregate of 11,129,032 shares and net proceeds of approximately $ 162 million , after deducting underwriting discounts , commissions and estimated offering expenses . as of december 31 , 2018 , we had a total of approximately $ 347.5 million in cash and cash equivalents and available-for-sale investment securities , and approximately $ 36.3 million of short-term liabilities consisting entirely of liabilities from operations . in the year ended december 31 , 2018 , we spent approximately $ 125.7 million in cash for operations and equipment , not including $ 7.1 million of interest income . we reduced working capital by approximately $ 135.9 million for the year ended december 31 , 2018. this use of cash was primarily for conducting clinical trials and non-clinical testing , including manufacturing related activities and funding recurring operating expenses . 71 for the year 2019 , subject to the timing of nda approval , clinical trial conduct , regulatory activities , precommercial , manufacturing , and other development activities , we expect to spend between $ 225 million and $ 240 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 through december 31 , 2018 , we provided funds for our operations by obtaining approximately $ 880.3 million of cash primarily through public and private offerings of our common stock and other securities , grants from government agencies and foundations and payments received under the terminated takeda license agreement . we do not believe that grant revenue will be a significant source of funding in the near future . on october 2 , 2017 , we completed a public offering of 9,677,419 shares of our common stock for aggregate gross proceeds of approximately $ 150 million and net proceeds of approximately $ 140.6 million . on october 5 , 2017 , the underwriters exercised in full their option to purchase an additional 1,451,613 shares . all of the shares in the offering were sold by the company , with gross proceeds to the company of approximately $ 172 million from the offering of an aggregate of 11,129,032 shares and net proceeds of approximately $ 162 million , after deducting underwriting discounts , commissions and estimated offering expenses . as of december 31 , 2018 , we had a total of approximately $ 347.5 million in cash and cash equivalents and available-for-sale investment securities , and approximately $ 36.3 million of short-term liabilities consisting entirely of liabilities from operations . in the year ended december 31 , 2018 , we spent approximately $ 125.7 million in cash for operations and equipment , not including $ 7.1 million of interest income . we reduced working capital by approximately $ 135.9 million for the year ended december 31 , 2018. this use of cash was primarily for conducting clinical trials and non-clinical testing , including manufacturing related activities and funding recurring operating expenses . 71 for the year 2019 , subject to the timing of nda approval , clinical trial conduct , regulatory activities , precommercial , manufacturing , and other development activities , we expect to spend between $ 225 million and $ 240 million .
```    
 Suspicious Activity Report : we are analyzing the data set from this trial and will determine the next steps in our program following completion of this analysis . we are also pursuing clinical development of lumateperone for the treatment of additional cns diseases and disorders . at the lowest doses , lumateperone has been demonstrated to act primarily as a potent 5-ht2a serotonin receptor antagonist . as the dose is increased , additional benefits are derived from the engagement of additional drug targets , including modest dopamine receptor modulation and modest inhibition of serotonin transporters . we believe that combined interactions at these receptors may provide additional benefits above and beyond selective 5-ht2a antagonism for treating agitation , aggression and sleep disturbances in diseases that include dementia , ad , huntington 's disease and autism spectrum disorders , while avoiding many of the side effects associated with more robust dopamine receptor antagonism . as the dose of lumateperone is further increased , leading to moderate dopamine receptor modulation , inhibition of serotonin transporters , and indirect glutamate modulation , these actions complement the complete blockade of 5-ht2a serotonin receptors . at a dose of 60 mg , iti-007 has been shown effective in treating the symptoms associated with schizophrenia , and we believe this higher dose range will be useful for the treatment of bipolar disorder , depressive disorders and other neuropsychiatric diseases . within the iti-007 portfolio , we are also developing a long-acting injectable formulation to provide more treatment options to patients suffering from mental illness . given the encouraging tolerability data to date with oral lumateperone , we believe that a long-acting injectable option , in particular , may lend itself to being an important formulation choice for patients . given the potential utility for lumateperone and follow-on compounds to treat these additional indications , we may investigate , either on our own or with a partner , agitation , aggression and sleep disturbances in additional diseases that include autism spectrum disorders , depressive disorder , intermittent explosive disorder , non-motor symptoms and motor complications associated with parkinson 's disease , and post-traumatic stress disorder . we hold exclusive , worldwide commercialization rights to lumateperone and a family of compounds from bristol-myers squibb company pursuant to an exclusive license . we have a second major program called iti-002 that has yielded a portfolio of compounds that selectively inhibits the enzyme phosphodiesterase type 1 , or pde1 . iti-214 is our lead compound in this program . we believe iti-214 is the first compound in its class to successfully advance into phase 1 clinical trials . we intend to pursue the development of our pde program , including iti-214 for the treatment of several cns and non-cns conditions , including cardiovascular disease . following the positive safety and tolerability results in our phase 1 program , we initiated our development program for iti-214 for parkinson 's disease and commenced patient enrollment in the third quarter of 2017 in a phase 1/2 clinical trial of iti-214 in patients with parkinson 's disease to evaluate safety and tolerability in this patient population , as well as motor and non-motor exploratory endpoints . in the fourth quarter of 2018 , we announced that the phase 1/2 clinical trial of iti-214 has been completed and topline results demonstrated iti-214 was generally well-tolerated with a favorable safety profile and clinical signs consistent with improvements in motor symptoms and dyskinesias . in addition , in the first quarter of 2018 , the investigational new drug application , or ind , went into effect for iti-214 for the treatment of heart failure . we have initiated clinical conduct of the first clinical study in this program , a randomized , double-blind , placebo-controlled study of escalating single doses of iti-214 to evaluate safety and hemodynamic effects in patients with systolic heart failure . our pipeline also includes preclinical programs that are focused on advancing drugs for the treatment of schizophrenia , parkinson 's disease , ad and other neuropsychiatric and neurodegenerative disorders . we are also investigating the development of treatments for disease modification of neurodegenerative disorders and non-cns diseases , including our iti-333 development program . iti-333 is designed as a potential treatment for 65 substance use disorders , pain and psychiatric comorbidities including depression and anxiety . there is a pressing need to develop new drugs to treat opioid addiction and safe , effective , non-addictive treatments to manage pain . we believe the potential exists for iti-333 to address these challenges . preclinical safety studies with iti-333 are currently ongoing and we expect to initiate a clinical program in 2019. results of operations the following discussion summarizes the key factors our management believes are necessary for an understanding of our financial statements . revenues we have not generated any revenue from product sales to date and we do not expect to generate revenues from product sales until at least the fourth quarter of 2019 , if ever . we had no revenues for the year ended december 31 , 2018 , and our revenues for the year ended december 31 , 2017 were from a government grant . we have received and may continue to receive grants from u.s. government agencies and foundations . we do not expect any revenues that we may generate in the next several years to be significant enough to fund our operations . expenses the process of researching and developing drugs for human use is lengthy , unpredictable and subject to many risks . we are unable with certainty to estimate either the costs or the timelines in which those costs will be incurred . the clinical development of lumateperone for the treatment of schizophrenia and for the treatment of bipolar depression consumes and , together with our anticipated clinical development programs for depressive disorders and iti-214 , will continue to consume a large portion of our current , as well as projected , resources . story_separator_special_tag 70 general and administrative expenses general and administrative expenses decreased for the year ended december 31 , 2017 as compared to the year ended december 31 , 2016 by approximately $ 1.1 million , or 4.4 % , primarily due to a decrease of approximately $ 1.5 million of marketing and consulting costs in 2017 compared to 2016 , offset by higher capital tax expense in 2017. salaries , bonuses , share based compensation and related benefit costs for our executive , finance and administrative functions for the years ended december 31 , 2017 and 2016 were approximately 62 % and 61 % , respectively , of our total general and administrative costs . our other general and administrative expenses include patent costs and other professional fees and , to a lesser extent , general office-related overhead . interest income interest income has increased to approximately $ 4.0 million from $ 2.9 million for the year ended december 31 , 2017 as compared to the year ended december 31 , 2016. this increase is primarily a result of higher than average cash balances and rising interest rates in 2017 as compared to 2016. the higher balances in 2017 were primarily due to the net offering proceeds of $ 162.1 million that we received in october 2017 and is offset partially by the $ 80.5 million of cash and investments utilized in 2017. income taxes in september 2016 , we licensed certain intellectual property rights to its wholly-owned subsidiary , iti limited , which was formed in the third quarter of 2016. although the license of intellectual property rights did not result in any gain or loss in the consolidated statements of operations , the transaction generated taxable net income in the u.s in 2016. we utilized a portion of our available federal and state net operating loss carryforwards to offset the majority of this net income but incurred approximately $ 1.1 million of alternative minimum tax related to intercompany transactions that were treated as tax expense in our consolidated statement of operations in 2016. in december 2017 the tax cuts and jobs act law was passed which will allow the company to receive a refund in future periods for these taxes paid . the company therefore recognized a benefit of approximately $ 1.1 million for these taxes in december 2017. story_separator_special_tag warrants , rights , purchase contracts and or units from time to time and at prices and on terms that we may determine . after the public offering in october 2017 , approximately $ 178 million of securities remain available for issuance under this shelf registration statement . this registration statement will remain in effect for up to three years from the date it was declared effective . we can not be sure that future funding will be available to us when we need it on terms that are acceptable to us , or at all . we sell securities and incur debt when the terms of such transactions are deemed favorable to us and as necessary to fund our current and projected cash needs . the amount of funding we raise through sales of our common stock or other securities depends on many factors , including , but not limited to , the status and progress of our product development programs , projected cash needs , availability of funding from other sources , our stock price and the status of the capital markets . due to the volatile nature of the financial markets , equity and debt financing may be difficult to obtain . in addition , any unfavorable development or delay in the progress of our lumateperone program could have a material adverse impact on our ability to raise additional capital . to the extent that we raise additional capital through the sale of equity or convertible debt securities , the ownership interest of our existing stockholders will be diluted , and the terms may include liquidation or other preferences that adversely affect the rights of our stockholders . debt financing , if available , may involve agreements that include covenants limiting or restricting our ability to take specific actions , such as incurring debt , making capital expenditures or declaring dividends . if we raise additional funds through government or other third-party funding , marketing and distribution arrangements or other collaborations , strategic alliances or licensing arrangements with third parties , we may have to relinquish valuable rights to our technologies , future revenue streams , research programs or product candidates or to grant licenses on terms that may not be favorable to us . if adequate funds are not available to us on a timely basis , we may be required to : ( 1 ) delay , limit , reduce or terminate pre-clinical studies , clinical trials or other clinical development activities for one or more of our product candidates , including our lead product candidate lumateperone , iti-214 , and our other pre-clinical stage product candidates ; ( 2 ) delay , limit , reduce or terminate our discovery research or pre-clinical development activities ; or ( 3 ) enter into licenses or other arrangements with third parties on terms that may be unfavorable to us or sell , license or relinquish rights to develop or commercialize our product candidates , technologies or intellectual property at an earlier stage of development and on less favorable terms than we would otherwise agree . our cash is maintained in checking accounts , money market accounts , money market mutual funds , u.s. government agency securities , certificates of deposit , commercial paper , corporate notes and corporate bonds at major financial institutions . due to the current low interest rates available for these instruments , we are earning limited interest income . we do not expect interest income to be a significant source of funding over the next several quarters . our investment portfolio has not been adversely impacted by the problems in the credit

