in the trial , 132 patients with type 1 diabetes were randomized to receive either biod-123 or humalog® to use as their mealtime insulin during an 18-week treatment period . both arms of the study used insulin glargine , sold as lantus® , as the basal insulin . the clinical trial was designed to evaluate hba1c control as the primary endpoint , and secondary endpoints included postprandial glucose excursions , glycemic variability , hypoglycemic event rates and weight changes . the phase 2 clinical trial of biod-123 completed patient dosing in the second calendar quarter of 2013 , and in september 2013 we announced preliminary results from the trial . biod-123 achieved the primary endpoint of noninferiority for hba1c relative to humalog® . the mean hba1c change from baseline in the biod-123 group was -0.08 ± 0.064 % and -0.25± 0.063 % in the humalog® group . the 95 % confidence 42 interval ( -0.01 , 0.35 ) of the between group differences in change from baseline hba1c did not exceed the fda-designated threshold of 0.40 % , thereby establishing non-inferiority . we expect to provide an update on our further development plans for biod-123 after completing our analysis of the data from the phase 2 clinical trial and following discussions with fda on clinical trial design , safety and chemistry , manufacturing and controls relating to potential future studies . in addition to biod-123 , we have other rhi-based formulations in earlier stages of development . in particular , we are developing ultra-rapid-acting formulations of concentrated insulin that are characterized by a rapid onset of action and a prolonged duration of action . we believe these formulations could address an unmet medical need for an insulin with an initial rate of absorption superior to that of existing concentrated insulins and prandial/basal pre-mixed insulins . in november 2013 , we announced that we had initiated a phase 1 clinical trial with biod-531 , our lead candidate for an ultra-rapid-acting concentrated insulin formulation . biod-531 contains 400 units of rhi per milliliter ( instead of the standard 100 units per milliliter ) , and is formulated with edta , citrate and magnesium sulfate . in preclinical studies in diabetic swine , biod-531 demonstrated a more rapid rate of absorption and onset of action , along with a similar duration of action , when compared to humulin® r u-500 , a presentation containing 500 units of rhi per millimeter . in other preclinical studies , biod-531 also demonstrated a more rapid rate of absorption and onset of action when compared to humalog® pre-mixed prandial/basal formulations . in the phase 1 clinical trial of biod-531 , we will evaluate and compare the onset and duration of action and injection site tolerability of biod-531 to humulin® r u-500 and to humalog® prandial/basal pre-mixed insulin . we anticipate reporting top line data from the clinical trial in the first calendar quarter of 2014. we also continue to develop ultra-rapid-acting insulin analog-based formulations . in january 2013 , we announced top-line results from our phase 1 clinical trial of two insulin analog-based formulations , biod-238 and biod-250 . these formulations , which were manufactured using commercial preparations of humalog® , generally use the same or similar excipients as biod-123 and were intended to be optimized for rapid absorption and injection site toleration . the trial , which was conducted in australia , was designed to compare the pharmacokinetic and injection site toleration profiles of biod-238 and biod-250 relative to humalog® . in the trial , both formulations met our target pharmacokinetic profile for an ultra-rapid-acting insulin analog-based formulation , and biod-250 met our target injection site toleration profile . we do not expect to study these formulations in additional clinical trials because they were formulated by adding our proprietary excipients to the marketed formulation of humalog® and because they do not demonstrate stability characteristics consistent with our target product profile . accordingly , we are continuing our insulin analog-based formulation work to develop formulations using insulin lispro as the active pharmaceutical ingredient , rather than a marketed presentation of humalog® . in addition to our ultra-rapid-acting insulin formulation program , we are developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia . in june 2013 , we announced plans to develop a novel glucagon rescue product to treat severe hypoglycemia using a proprietary device from unilife corporation . the device , which is being customized for use in emergency situations by patient caregivers with no medical training , is a dual-chamber design that automatically reconstitutes lyophilized glucagon with a liquid diluent immediately prior to injection , and it features automatic needle retraction on full dose delivery . we expect to submit an investigational new drug application to the fda for our dual-chamber glucagon rescue product during the next nine months and anticipate conducting a pivotal clinical trial in the second half of 2014. we are also conducting preclinical testing to develop liquid formulations of glucagon for hypoglycemic rescue and other indications . we are a development stage company . we were incorporated in december 2003 and commenced active operations in january 2004. to date , we have generated no revenues and have incurred significant losses . we expect to continue to incur operating losses as we continue our efforts to develop and commercialize our product candidates . we have financed our operations and internal growth through various financing transactions , including our initial public offering in may 2007 and several subsequent transactions , including , most recently , our june 2013 public offering . we have devoted substantially all of our efforts to research and development activities , including clinical trials . our net loss was $ 19.3 million for the year ended september 30 , 2013. as of september 30 , 2013 , we had a deficit accumulated during the development stage of $ 215.4 million . story_separator_special_tag examples of preclinical study , clinical trial and manufacturing expenses include the following : fees paid to contract research organizations in connection with preclinical and toxicology studies and clinical trials ; fees paid to investigative sites in connection with clinical trials ; fees paid to contract manufacturers in connection with the production of clinical trial materials ; and professional service fees . government grants grants received are recognized as grant income when the grants become receivable , provided there is reasonable assurance that we will comply with the conditions attached to the grant and there is reasonable assurance the grant will be received . we request cash funding under approved grants as expenses are incurred ( not in advance ) and report these receipts on the statement of operations as a separate line item entitled `` government grants . `` the corresponding expenses are included in research and development expenses . in july and september 2012 , we were awarded two national institutes of health grants for the development of concentrated ultra-rapid-acting insulin formulations and liquid glucagon formulations , respectively , for use in an artificial pancreas . both awards are for two years and total approximately $ 580 thousand each . work on the grant for the development of concentrated ultra-rapid-acting insulin formulation started in august 2012 and expenses incurred were $ 327 thousand during the twelve months ended september 30 , 2013. work on the grant for the development of novel and stable glucagon formulations for closed loop systems started in january 2013 , and expenses incurred were $ 219 thousand during the twelve months ended september 30 , 2013. corresponding income and receivables were recorded . reclassifications certain items in the prior year 's financial statements have been reclassified to conform with the current year 's presentation . 48 share-based compensation stock incentive plan in march 2013 , the shareholders approved the amended and restated 2010 stock incentive plan ( the `` 2010 plan `` ) . up to 3,750,000 shares of common stock may be issued pursuant to awards granted under the 2010 plan , plus 1,540,739 shares of common stock underlying already outstanding awards under the company 's prior plans . as of september 30 , 2013 , we had 1,951,347 shares of common stock subject to outstanding awards . the contractual life of options granted under the 2010 plan may not exceed seven years . the 2010 plan uses a `` fungible share `` concept under which any awards that are not a full-value award will be counted against the share limit as one ( 1 ) share for each share of common stock and any award that is a full-value award will be counted against the share limit as 1.5 shares for each one share of common stock . we have not made any new awards under any prior equity plans after march 2 , 2010 , the effective date the 2010 plan was approved by the stockholders . the 2010 plan replaces the 2004 stock incentive plan and 2005 non-employee directors stock option plan . we use the black-scholes pricing model to calculate the fair value of stock options . the expected life for these grants was calculated in accordance with the simplified method described in the securities and exchange commission staff accounting bulletin ( sab ) topic 14.d.2 in accordance with sab no . 110. we recognize compensation costs related to share-based transactions , including employee stock options , in the financial statements based on fair value . the fair value of the stock underlying the options is a significant factor in determining credits or charges to operations appropriate for the share-based payments to both employees and non-employees . we base our estimate of expected volatility on the historical volatility of our stock . the risk free rate of interest for periods within the contractual life of the stock option is based on the yield of a u.s. treasury strip on the date the award is granted with a maturity equal to the expected term of the award . we estimate forfeitures based on actual forfeitures during our limited history . additionally , we have assumed that dividends will not be paid . for options granted to non-employees and non-directors , primarily consultants who served on our scientific advisory board , we measure fair value of the equity instruments utilizing the black-scholes valuation model , if that value is more reliably measurable than the fair value of the consideration or service received . the fair value of these equity investments were periodically revalued as the options were vesting and were recognized as expense over the related period of service or the vesting period , whichever was longer . we have not granted options to non-employees and non-directors since the year ending september 30 , 2008. prior to september 30 , 2008 , we issued to these non-employees options to purchase an aggregate of 94,278 shares of our common stock . all of these options are currently vested . for the years ended september 30 , 2011 , 2012 and 2013 , the share-based compensation expense ( income ) related to these options was ( $ 0.04 ) million , $ 0 , and $ 0 , respectively . we grant restricted stock units , or rsus , to executive officers and employees pursuant to the 2010 plan , from time to time . each rsu represents one share of common stock . there is no direct cost to the recipients of rsus , except for any applicable taxes . except as set forth below with regard to rsus awarded to employees in place of discretionary cash bonuses , each award vests in installments on each anniversary of the date of grant , and the costs of the awards are determined as the fair market value of the shares on the date of grant . in all cases , costs are expensed per the vesting schedule outlined in the award . for

liquidity and capital resources sources of liquidity and cash flows as a result of our significant research and development expenditures and the lack of any approved products or other sources of revenue , we have not been profitable and have generated significant operating losses since we were incorporated in 2003. we initially funded our research and development operations through aggregate gross proceeds of $ 26.6 million from our private financing transactions that we completed prior to our initial public offering . we received an aggregate of approximately $ 202 million from our initial public offering in may 2007 , our follow-on offering in february 2008 , our registered direct offerings in august 2010 and may 2011 , our private placement in june 2012 and our public offering in june 2013. at september 30 , 2013 , we had cash and cash equivalents totaling approximately $ 39.8 million . we plan to continue to invest our cash and cash equivalents in accordance with our approved investment policy guidelines . net cash used in operating activities was $ 18.6 million for the year ended september 30 , 2013 , $ 16.7 million for the year ended september 30 , 2012 , and $ 18.3 million for the year ended september 30 , 2011. net cash used in operating activities for the years ended september 30 , 2013 , 2012 and 2011 primarily reflects the net loss for the period , offset in part by depreciation and amortization , share-based compensation and changes in the fair value of the common stock-warrant liability . net cash ( used in ) provided by investing activities was $ ( 0.1 ) million for the year ended september 30 , 2013 , $ ( 0.06 ) million for the year ended september 30 , 2012 , and $ 5.8 million for the year ended september 54 30 , 2011. net cash used in investing activities for the years ended september 30 , 2013 and 2012 reflects the purchase of property and equipment .


 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 sources of liquidity and cash flows as a result of our significant research and development expenditures and the lack of any approved products or other sources of revenue , we have not been profitable and have generated significant operating losses since we were incorporated in 2003. we initially funded our research and development operations through aggregate gross proceeds of $ 26.6 million from our private financing transactions that we completed prior to our initial public offering . we received an aggregate of approximately $ 202 million from our initial public offering in may 2007 , our follow-on offering in february 2008 , our registered direct offerings in august 2010 and may 2011 , our private placement in june 2012 and our public offering in june 2013. at september 30 , 2013 , we had cash and cash equivalents totaling approximately $ 39.8 million . we plan to continue to invest our cash and cash equivalents in accordance with our approved investment policy guidelines . net cash used in operating activities was $ 18.6 million for the year ended september 30 , 2013 , $ 16.7 million for the year ended september 30 , 2012 , and $ 18.3 million for the year ended september 30 , 2011. net cash used in operating activities for the years ended september 30 , 2013 , 2012 and 2011 primarily reflects the net loss for the period , offset in part by depreciation and amortization , share-based compensation and changes in the fair value of the common stock-warrant liability . net cash ( used in ) provided by investing activities was $ ( 0.1 ) million for the year ended september 30 , 2013 , $ ( 0.06 ) million for the year ended september 30 , 2012 , and $ 5.8 million for the year ended september 54 30 , 2011. net cash used in investing activities for the years ended september 30 , 2013 and 2012 reflects the purchase of property and equipment .
```    
 Suspicious Activity Report : in the trial , 132 patients with type 1 diabetes were randomized to receive either biod-123 or humalog® to use as their mealtime insulin during an 18-week treatment period . both arms of the study used insulin glargine , sold as lantus® , as the basal insulin . the clinical trial was designed to evaluate hba1c control as the primary endpoint , and secondary endpoints included postprandial glucose excursions , glycemic variability , hypoglycemic event rates and weight changes . the phase 2 clinical trial of biod-123 completed patient dosing in the second calendar quarter of 2013 , and in september 2013 we announced preliminary results from the trial . biod-123 achieved the primary endpoint of noninferiority for hba1c relative to humalog® . the mean hba1c change from baseline in the biod-123 group was -0.08 ± 0.064 % and -0.25± 0.063 % in the humalog® group . the 95 % confidence 42 interval ( -0.01 , 0.35 ) of the between group differences in change from baseline hba1c did not exceed the fda-designated threshold of 0.40 % , thereby establishing non-inferiority . we expect to provide an update on our further development plans for biod-123 after completing our analysis of the data from the phase 2 clinical trial and following discussions with fda on clinical trial design , safety and chemistry , manufacturing and controls relating to potential future studies . in addition to biod-123 , we have other rhi-based formulations in earlier stages of development . in particular , we are developing ultra-rapid-acting formulations of concentrated insulin that are characterized by a rapid onset of action and a prolonged duration of action . we believe these formulations could address an unmet medical need for an insulin with an initial rate of absorption superior to that of existing concentrated insulins and prandial/basal pre-mixed insulins . in november 2013 , we announced that we had initiated a phase 1 clinical trial with biod-531 , our lead candidate for an ultra-rapid-acting concentrated insulin formulation . biod-531 contains 400 units of rhi per milliliter ( instead of the standard 100 units per milliliter ) , and is formulated with edta , citrate and magnesium sulfate . in preclinical studies in diabetic swine , biod-531 demonstrated a more rapid rate of absorption and onset of action , along with a similar duration of action , when compared to humulin® r u-500 , a presentation containing 500 units of rhi per millimeter . in other preclinical studies , biod-531 also demonstrated a more rapid rate of absorption and onset of action when compared to humalog® pre-mixed prandial/basal formulations . in the phase 1 clinical trial of biod-531 , we will evaluate and compare the onset and duration of action and injection site tolerability of biod-531 to humulin® r u-500 and to humalog® prandial/basal pre-mixed insulin . we anticipate reporting top line data from the clinical trial in the first calendar quarter of 2014. we also continue to develop ultra-rapid-acting insulin analog-based formulations . in january 2013 , we announced top-line results from our phase 1 clinical trial of two insulin analog-based formulations , biod-238 and biod-250 . these formulations , which were manufactured using commercial preparations of humalog® , generally use the same or similar excipients as biod-123 and were intended to be optimized for rapid absorption and injection site toleration . the trial , which was conducted in australia , was designed to compare the pharmacokinetic and injection site toleration profiles of biod-238 and biod-250 relative to humalog® . in the trial , both formulations met our target pharmacokinetic profile for an ultra-rapid-acting insulin analog-based formulation , and biod-250 met our target injection site toleration profile . we do not expect to study these formulations in additional clinical trials because they were formulated by adding our proprietary excipients to the marketed formulation of humalog® and because they do not demonstrate stability characteristics consistent with our target product profile . accordingly , we are continuing our insulin analog-based formulation work to develop formulations using insulin lispro as the active pharmaceutical ingredient , rather than a marketed presentation of humalog® . in addition to our ultra-rapid-acting insulin formulation program , we are developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia . in june 2013 , we announced plans to develop a novel glucagon rescue product to treat severe hypoglycemia using a proprietary device from unilife corporation . the device , which is being customized for use in emergency situations by patient caregivers with no medical training , is a dual-chamber design that automatically reconstitutes lyophilized glucagon with a liquid diluent immediately prior to injection , and it features automatic needle retraction on full dose delivery . we expect to submit an investigational new drug application to the fda for our dual-chamber glucagon rescue product during the next nine months and anticipate conducting a pivotal clinical trial in the second half of 2014. we are also conducting preclinical testing to develop liquid formulations of glucagon for hypoglycemic rescue and other indications . we are a development stage company . we were incorporated in december 2003 and commenced active operations in january 2004. to date , we have generated no revenues and have incurred significant losses . we expect to continue to incur operating losses as we continue our efforts to develop and commercialize our product candidates . we have financed our operations and internal growth through various financing transactions , including our initial public offering in may 2007 and several subsequent transactions , including , most recently , our june 2013 public offering . we have devoted substantially all of our efforts to research and development activities , including clinical trials . our net loss was $ 19.3 million for the year ended september 30 , 2013. as of september 30 , 2013 , we had a deficit accumulated during the development stage of $ 215.4 million . story_separator_special_tag examples of preclinical study , clinical trial and manufacturing expenses include the following : fees paid to contract research organizations in connection with preclinical and toxicology studies and clinical trials ; fees paid to investigative sites in connection with clinical trials ; fees paid to contract manufacturers in connection with the production of clinical trial materials ; and professional service fees . government grants grants received are recognized as grant income when the grants become receivable , provided there is reasonable assurance that we will comply with the conditions attached to the grant and there is reasonable assurance the grant will be received . we request cash funding under approved grants as expenses are incurred ( not in advance ) and report these receipts on the statement of operations as a separate line item entitled `` government grants . `` the corresponding expenses are included in research and development expenses . in july and september 2012 , we were awarded two national institutes of health grants for the development of concentrated ultra-rapid-acting insulin formulations and liquid glucagon formulations , respectively , for use in an artificial pancreas . both awards are for two years and total approximately $ 580 thousand each . work on the grant for the development of concentrated ultra-rapid-acting insulin formulation started in august 2012 and expenses incurred were $ 327 thousand during the twelve months ended september 30 , 2013. work on the grant for the development of novel and stable glucagon formulations for closed loop systems started in january 2013 , and expenses incurred were $ 219 thousand during the twelve months ended september 30 , 2013. corresponding income and receivables were recorded . reclassifications certain items in the prior year 's financial statements have been reclassified to conform with the current year 's presentation . 48 share-based compensation stock incentive plan in march 2013 , the shareholders approved the amended and restated 2010 stock incentive plan ( the `` 2010 plan `` ) . up to 3,750,000 shares of common stock may be issued pursuant to awards granted under the 2010 plan , plus 1,540,739 shares of common stock underlying already outstanding awards under the company 's prior plans . as of september 30 , 2013 , we had 1,951,347 shares of common stock subject to outstanding awards . the contractual life of options granted under the 2010 plan may not exceed seven years . the 2010 plan uses a `` fungible share `` concept under which any awards that are not a full-value award will be counted against the share limit as one ( 1 ) share for each share of common stock and any award that is a full-value award will be counted against the share limit as 1.5 shares for each one share of common stock . we have not made any new awards under any prior equity plans after march 2 , 2010 , the effective date the 2010 plan was approved by the stockholders . the 2010 plan replaces the 2004 stock incentive plan and 2005 non-employee directors stock option plan . we use the black-scholes pricing model to calculate the fair value of stock options . the expected life for these grants was calculated in accordance with the simplified method described in the securities and exchange commission staff accounting bulletin ( sab ) topic 14.d.2 in accordance with sab no . 110. we recognize compensation costs related to share-based transactions , including employee stock options , in the financial statements based on fair value . the fair value of the stock underlying the options is a significant factor in determining credits or charges to operations appropriate for the share-based payments to both employees and non-employees . we base our estimate of expected volatility on the historical volatility of our stock . the risk free rate of interest for periods within the contractual life of the stock option is based on the yield of a u.s. treasury strip on the date the award is granted with a maturity equal to the expected term of the award . we estimate forfeitures based on actual forfeitures during our limited history . additionally , we have assumed that dividends will not be paid . for options granted to non-employees and non-directors , primarily consultants who served on our scientific advisory board , we measure fair value of the equity instruments utilizing the black-scholes valuation model , if that value is more reliably measurable than the fair value of the consideration or service received . the fair value of these equity investments were periodically revalued as the options were vesting and were recognized as expense over the related period of service or the vesting period , whichever was longer . we have not granted options to non-employees and non-directors since the year ending september 30 , 2008. prior to september 30 , 2008 , we issued to these non-employees options to purchase an aggregate of 94,278 shares of our common stock . all of these options are currently vested . for the years ended september 30 , 2011 , 2012 and 2013 , the share-based compensation expense ( income ) related to these options was ( $ 0.04 ) million , $ 0 , and $ 0 , respectively . we grant restricted stock units , or rsus , to executive officers and employees pursuant to the 2010 plan , from time to time . each rsu represents one share of common stock . there is no direct cost to the recipients of rsus , except for any applicable taxes . except as set forth below with regard to rsus awarded to employees in place of discretionary cash bonuses , each award vests in installments on each anniversary of the date of grant , and the costs of the awards are determined as the fair market value of the shares on the date of grant . in all cases , costs are expensed per the vesting schedule outlined in the award . for

