to accomplish this separation , emergent created a new company , aptevo therapeutics inc. , or aptevo , to be the parent company for the development-based biotechnology business focused on novel oncology , hematology , and autoimmune and inflammatory therapeutics . we were incorporated in delaware in february 2016 as a wholly owned subsidiary of emergent . to effect the separation , emergent made a pro rata distribution of aptevo 's common stock to emergent 's stockholders on august 1 , 2016. in connection with the separation , we received certain assets from emergent 's biosciences division , including development programs and the adaptir platform technology . certain historical operations that were included by emergent in its biosciences segment have been reallocated to emergent 's continuing operations , and as a result the financial statements and discussion and analysis contained herein differ from emergent 's historically reportable biosciences segment . for the year ended december 31 , 2018 , we had a net loss of $ 53.7 million , and for the year ended december 31 , 2017 , we recognized net income of $ 7.0 million , due to the sale of our hyperimmune business , which consisted of the following products : winrho® sdf ; hepagam b® ; and varizig® , or the hyperimmune business . we had an accumulated deficit of $ 127.4 million as of december 31 , 2018. for the year ended december 31 , 2018 , net cash used in our operating activities was $ 51.7 million . although we expect our existing cash and cash equivalents will be sufficient to fund our operations for at least twelve months from the date of this filing , if we are unable to obtain additional financing when needed , we may have to delay , reduce the scope of , suspend or eliminate one or more of our research and development programs . following the sale of the hyperimmune business , our sole marked product is ixinity ® , and therefore ixinity will be our only source of product revenue . as such , our results of operations will be highly dependent on ixinity sales unless or until we develop or partner any of our development stage product candidates . we will not generate commercial revenues from our development stage product candidates unless and until we or our collaborators successfully complete development and obtain regulatory approval for such product candidates , which we expect will take a number of years and is subject to significant uncertainty . if we obtain regulatory approval for one of our development stage product candidates , we expect to incur significant commercialization expenses related to sales , marketing , manufacturing and distribution , to the extent that such costs are not paid by collaborators . we do not have sufficient cash to complete the clinical development of any of our development stage product candidates and will require additional funding in order to complete the development activities required for regulatory approval of such product candidates . 50 corporate and financi al highlights commercial portfolio : achieved record year-over-year annual ixinity net revenue of $ 23.1 million in 2018 , representing a 111 % increase compared to revenue of $ 10.9 million in 2017. continued to expand the patient base for ixinity bringing additional new hemophilia b patients onto therapy throughout the year . improved supply chain logistics and cost efficiencies for ixinity by contracting with new third-party logistics providers . presented new data from a small retrospective study of ixinity at the thrombosis and hemostasis 2018 summit of north america annual meeting describing patient-reported outcomes data for ixinity for various clinical and quality of life measures ; overall , respondents in this study reported a high level of satisfaction with ixinity with low annualized bleed rates and a positive impact on quality of life scores . introduced new growth initiatives for ixinity ( launch of new 3,000 iu assay ; pediatric clinical trial , and pursuit of ex-u.s. distribution and partnership opportunities ) commencing in 2019 ; the initiation of the pediatric trail is required for the pursuit of business in markets such as europe . pipeline : commenced patient dosing in a phase 1/1b open-label , dose-escalation study of apvo436 in patients with acute myeloid leukemia ( aml ) and high-grade myelodysplastic syndrome ( mds ) ; anticipate reporting preliminary anti-drug antibody ( ada ) read-out in the third quarter of 2019 and reporting preliminary phase 1 safety data in data in the fourth quarter of 2019. presented comprehensive new pre-clinical data for apvo436 at the american association for cancer research ( aacr ) annual meeting demonstrating potent t cell-directed tumor killing with reduced cytokine release in pre-clinical studies compared to an aptevo-generated competitor bispecific construct . completed preparations to begin a phase 1 clinical study of apvo210 evaluating single and multiple ascending doses in healthy volunteers ; apvo210 is being developed for the treatment of autoimmune and inflammatory diseases . received authorization in australia to commence dosing in apvo210 ; phase 1 clinical trial scheduled to begin march 2019 with initial results for the single dose group cohort anticipated in the third quarter of 2019 , and preliminary phase i safety data in the fourth quarter of 2019. published comprehensive pre-clinical data in the journal , frontiers in immunology , showing that apvo210 has a unique mechanism of action for delivering the cytokine , il-10 , which can generate antigen specific t-regulatory cells , and suppress inflammation and immune activation without stimulating pro-inflammatory cytokines . story_separator_special_tag the sale of the shares of our common stock by piper jaffray will be effected pursuant to a registration statement on form s-3 which we filed on november 9 , 2017. we have issued 13,265 shares under the equity distribution agreement as of december 31 , 2018. the equity distribution agreement will terminate upon the issuance and sale of all shares under the equity distribution agreement or upon the earlier termination thereof at any time by us or piper jaffray upon notice to the other party . purchase agreement on december 20 , 2018 we entered into a purchase agreement , or the purchase agreement , and a registration rights agreement , with lincoln park , pursuant to this agreement lincoln park has committed to purchase up to $ 35.0 million worth of the company 's common stock over a 36-month period commencing on february 13 , 2019 , the date the registration statement covering the resale of the shares was deemed effective by the sec . under the purchase agreement , on any business day selected by the company , the company may direct lincoln park to purchase shares of our common stock provided that lincoln park 's maximum commitment on any single day not exceed $ 2.0 million . the purchase price per share will be based off of prevailing market prices of our common stock immediately preceding the time of sale . in addition , we may also direct lincoln park to purchase other amounts as accelerated purchases or as additional accelerated purchases if the closing sale price of our common stock exceeds certain threshold prices as set forth in the purchase agreement . actual sales of shares of our common stock to lincoln park under the purchase agreement will depend on a variety of factors as determined by us from time to time , including , among others , market conditions , the trading price of our common stock and additional determinations as to the appropriate sources of funding for our operations . lincoln park has no right to require any sales but is obligated to make purchases as we direct in accordance with the purchase agreement . 56 capital requirements we expect to incur losses from operations for the foreseeable future primarily due to research and development expenses , including expenses related to conducting clinical trials . our future capital requirements will depend on a number of factors , including : the level , timing and cost of ixinity product sales ; the collection of accounts receivable from customers ; the extent to which we invest in products or technologies ; capital improvements to new or existing facilities ; the payment obligations under any future indebtedness ; the scope , progress , results and costs of our development activities ; and the costs of commercialization activities , including product marketing , sales and distribution . we expect our cash and cash equivalents will support our operations for the next fifteen months , at least , based on current operating plans and financial forecasts . if we are unable to obtain additional financing when needed , we may have to delay , reduce the scope of , suspend or eliminate one or more of our research and development programs . if we obtain regulatory approval for one of our development stage product candidates , we expect to incur significant commercialization expenses related to sales , marketing , manufacturing and distribution , to the extent that such costs are not paid by collaborators . we do not have sufficient cash to complete the clinical development of any of our development stage product candidates and will require additional funding in order to complete the development activities required for regulatory approval of such product candidates . we expect to continue to incur negative cash flows until other sources of revenue such as corporate partnering generates sufficient cash inflows to finance our operations and debt service requirements , or ixinity revenue and profitability grows significantly . until we are cash flow positive , we anticipate we will need to continue to raise operating funds through the issuance of public or private equity securities , incurring additional debt or pursuing additional partnerships . story_separator_special_tag representative group of publicly traded biopharmaceutical companies with similar characteristics to us , and our own historical and implied future volatility ; the risk-free interest rate , which we based on the yield curve of u.s. treasury securities with periods commensurate with the expected term of the options being valued ; the expected dividend yield , which we estimate to be zero based on the fact that we have never paid cash dividends and have no present intention to pay cash dividends ; and the fair value of our common stock on the date of grant . stock-based compensation expense for rsus , and stock options is recognized on a straight-line basis over the requisite service period , which is generally the vesting period of the respective award . we are required to estimate a forfeiture rate to calculate the stock-based compensation expense for our awards . our forfeiture rate is based on an analysis of our actual forfeitures since the adoption of our equity award plan . we routinely evaluate the appropriateness of the forfeiture rate based on actual forfeiture experience , analysis of employee turnover , and expectations of future option exercise behavior . income taxes income taxes are accounted for using the liability method . deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss and orphan drug tax credit carry forwards . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled . aptevo 's ability to realize deferred tax assets depends upon future taxable income as well

cash flows the following table provides information regarding our cash flows for the years ended december 31 , 2018 and december 31 , 2017 : replace_table_token_4_th net cash used in operating activities of $ 51.4 million for the year ended december 31 , 2018 was primarily due to our net loss of $ 53.7 million and changes in working capital accounts . net cash used in operating activities of $ 41.6 million for the year ended december 31 , 2017 was primarily due to our net income of $ 7.0 million , offset by the recognition of $ 52.7 million for the gain on the sale of our hyperimmune business , and changes in working capital accounts . net cash provided by investing activities for the year ended december 31 , 2018 , was primarily due to the maturity and redemption of investments of $ 90.2 million , offset by investment purchases of $ 16.5 million . for the year ended december 31 , 2017 , the largest components of the cash provided in investing activities were $ 70.7 million redemption of investments and by $ 59.8 million for the cash received from the sale of our hyperimmune business , offset by $ 99.6 million in purchases of corporate bonds and u.s. government debt securities . 57 net cash used in financing activities for the year ended december 31 , 2018 is primarily due to ch anges in equity for the tax liability of rsus , which vested in the period , the payment of $ 0.6 million in debt issuance costs associated with the amended credit agreement entered into with midcap in august of 2018 , offset by cash received due to the exerci se of stock options . net cash provided by financing activities for the year ended december 31 , 2017 includes $ 20.0 million from our former parent , offset by $ 10.0 million in restricted cash related to our midcap loan agreement .


 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.
     ```cash flows the following table provides information regarding our cash flows for the years ended december 31 , 2018 and december 31 , 2017 : replace_table_token_4_th net cash used in operating activities of $ 51.4 million for the year ended december 31 , 2018 was primarily due to our net loss of $ 53.7 million and changes in working capital accounts . net cash used in operating activities of $ 41.6 million for the year ended december 31 , 2017 was primarily due to our net income of $ 7.0 million , offset by the recognition of $ 52.7 million for the gain on the sale of our hyperimmune business , and changes in working capital accounts . net cash provided by investing activities for the year ended december 31 , 2018 , was primarily due to the maturity and redemption of investments of $ 90.2 million , offset by investment purchases of $ 16.5 million . for the year ended december 31 , 2017 , the largest components of the cash provided in investing activities were $ 70.7 million redemption of investments and by $ 59.8 million for the cash received from the sale of our hyperimmune business , offset by $ 99.6 million in purchases of corporate bonds and u.s. government debt securities . 57 net cash used in financing activities for the year ended december 31 , 2018 is primarily due to ch anges in equity for the tax liability of rsus , which vested in the period , the payment of $ 0.6 million in debt issuance costs associated with the amended credit agreement entered into with midcap in august of 2018 , offset by cash received due to the exerci se of stock options . net cash provided by financing activities for the year ended december 31 , 2017 includes $ 20.0 million from our former parent , offset by $ 10.0 million in restricted cash related to our midcap loan agreement .
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 Suspicious Activity Report : to accomplish this separation , emergent created a new company , aptevo therapeutics inc. , or aptevo , to be the parent company for the development-based biotechnology business focused on novel oncology , hematology , and autoimmune and inflammatory therapeutics . we were incorporated in delaware in february 2016 as a wholly owned subsidiary of emergent . to effect the separation , emergent made a pro rata distribution of aptevo 's common stock to emergent 's stockholders on august 1 , 2016. in connection with the separation , we received certain assets from emergent 's biosciences division , including development programs and the adaptir platform technology . certain historical operations that were included by emergent in its biosciences segment have been reallocated to emergent 's continuing operations , and as a result the financial statements and discussion and analysis contained herein differ from emergent 's historically reportable biosciences segment . for the year ended december 31 , 2018 , we had a net loss of $ 53.7 million , and for the year ended december 31 , 2017 , we recognized net income of $ 7.0 million , due to the sale of our hyperimmune business , which consisted of the following products : winrho® sdf ; hepagam b® ; and varizig® , or the hyperimmune business . we had an accumulated deficit of $ 127.4 million as of december 31 , 2018. for the year ended december 31 , 2018 , net cash used in our operating activities was $ 51.7 million . although we expect our existing cash and cash equivalents will be sufficient to fund our operations for at least twelve months from the date of this filing , if we are unable to obtain additional financing when needed , we may have to delay , reduce the scope of , suspend or eliminate one or more of our research and development programs . following the sale of the hyperimmune business , our sole marked product is ixinity ® , and therefore ixinity will be our only source of product revenue . as such , our results of operations will be highly dependent on ixinity sales unless or until we develop or partner any of our development stage product candidates . we will not generate commercial revenues from our development stage product candidates unless and until we or our collaborators successfully complete development and obtain regulatory approval for such product candidates , which we expect will take a number of years and is subject to significant uncertainty . if we obtain regulatory approval for one of our development stage product candidates , we expect to incur significant commercialization expenses related to sales , marketing , manufacturing and distribution , to the extent that such costs are not paid by collaborators . we do not have sufficient cash to complete the clinical development of any of our development stage product candidates and will require additional funding in order to complete the development activities required for regulatory approval of such product candidates . 50 corporate and financi al highlights commercial portfolio : achieved record year-over-year annual ixinity net revenue of $ 23.1 million in 2018 , representing a 111 % increase compared to revenue of $ 10.9 million in 2017. continued to expand the patient base for ixinity bringing additional new hemophilia b patients onto therapy throughout the year . improved supply chain logistics and cost efficiencies for ixinity by contracting with new third-party logistics providers . presented new data from a small retrospective study of ixinity at the thrombosis and hemostasis 2018 summit of north america annual meeting describing patient-reported outcomes data for ixinity for various clinical and quality of life measures ; overall , respondents in this study reported a high level of satisfaction with ixinity with low annualized bleed rates and a positive impact on quality of life scores . introduced new growth initiatives for ixinity ( launch of new 3,000 iu assay ; pediatric clinical trial , and pursuit of ex-u.s. distribution and partnership opportunities ) commencing in 2019 ; the initiation of the pediatric trail is required for the pursuit of business in markets such as europe . pipeline : commenced patient dosing in a phase 1/1b open-label , dose-escalation study of apvo436 in patients with acute myeloid leukemia ( aml ) and high-grade myelodysplastic syndrome ( mds ) ; anticipate reporting preliminary anti-drug antibody ( ada ) read-out in the third quarter of 2019 and reporting preliminary phase 1 safety data in data in the fourth quarter of 2019. presented comprehensive new pre-clinical data for apvo436 at the american association for cancer research ( aacr ) annual meeting demonstrating potent t cell-directed tumor killing with reduced cytokine release in pre-clinical studies compared to an aptevo-generated competitor bispecific construct . completed preparations to begin a phase 1 clinical study of apvo210 evaluating single and multiple ascending doses in healthy volunteers ; apvo210 is being developed for the treatment of autoimmune and inflammatory diseases . received authorization in australia to commence dosing in apvo210 ; phase 1 clinical trial scheduled to begin march 2019 with initial results for the single dose group cohort anticipated in the third quarter of 2019 , and preliminary phase i safety data in the fourth quarter of 2019. published comprehensive pre-clinical data in the journal , frontiers in immunology , showing that apvo210 has a unique mechanism of action for delivering the cytokine , il-10 , which can generate antigen specific t-regulatory cells , and suppress inflammation and immune activation without stimulating pro-inflammatory cytokines . story_separator_special_tag the sale of the shares of our common stock by piper jaffray will be effected pursuant to a registration statement on form s-3 which we filed on november 9 , 2017. we have issued 13,265 shares under the equity distribution agreement as of december 31 , 2018. the equity distribution agreement will terminate upon the issuance and sale of all shares under the equity distribution agreement or upon the earlier termination thereof at any time by us or piper jaffray upon notice to the other party . purchase agreement on december 20 , 2018 we entered into a purchase agreement , or the purchase agreement , and a registration rights agreement , with lincoln park , pursuant to this agreement lincoln park has committed to purchase up to $ 35.0 million worth of the company 's common stock over a 36-month period commencing on february 13 , 2019 , the date the registration statement covering the resale of the shares was deemed effective by the sec . under the purchase agreement , on any business day selected by the company , the company may direct lincoln park to purchase shares of our common stock provided that lincoln park 's maximum commitment on any single day not exceed $ 2.0 million . the purchase price per share will be based off of prevailing market prices of our common stock immediately preceding the time of sale . in addition , we may also direct lincoln park to purchase other amounts as accelerated purchases or as additional accelerated purchases if the closing sale price of our common stock exceeds certain threshold prices as set forth in the purchase agreement . actual sales of shares of our common stock to lincoln park under the purchase agreement will depend on a variety of factors as determined by us from time to time , including , among others , market conditions , the trading price of our common stock and additional determinations as to the appropriate sources of funding for our operations . lincoln park has no right to require any sales but is obligated to make purchases as we direct in accordance with the purchase agreement . 56 capital requirements we expect to incur losses from operations for the foreseeable future primarily due to research and development expenses , including expenses related to conducting clinical trials . our future capital requirements will depend on a number of factors , including : the level , timing and cost of ixinity product sales ; the collection of accounts receivable from customers ; the extent to which we invest in products or technologies ; capital improvements to new or existing facilities ; the payment obligations under any future indebtedness ; the scope , progress , results and costs of our development activities ; and the costs of commercialization activities , including product marketing , sales and distribution . we expect our cash and cash equivalents will support our operations for the next fifteen months , at least , based on current operating plans and financial forecasts . if we are unable to obtain additional financing when needed , we may have to delay , reduce the scope of , suspend or eliminate one or more of our research and development programs . if we obtain regulatory approval for one of our development stage product candidates , we expect to incur significant commercialization expenses related to sales , marketing , manufacturing and distribution , to the extent that such costs are not paid by collaborators . we do not have sufficient cash to complete the clinical development of any of our development stage product candidates and will require additional funding in order to complete the development activities required for regulatory approval of such product candidates . we expect to continue to incur negative cash flows until other sources of revenue such as corporate partnering generates sufficient cash inflows to finance our operations and debt service requirements , or ixinity revenue and profitability grows significantly . until we are cash flow positive , we anticipate we will need to continue to raise operating funds through the issuance of public or private equity securities , incurring additional debt or pursuing additional partnerships . story_separator_special_tag representative group of publicly traded biopharmaceutical companies with similar characteristics to us , and our own historical and implied future volatility ; the risk-free interest rate , which we based on the yield curve of u.s. treasury securities with periods commensurate with the expected term of the options being valued ; the expected dividend yield , which we estimate to be zero based on the fact that we have never paid cash dividends and have no present intention to pay cash dividends ; and the fair value of our common stock on the date of grant . stock-based compensation expense for rsus , and stock options is recognized on a straight-line basis over the requisite service period , which is generally the vesting period of the respective award . we are required to estimate a forfeiture rate to calculate the stock-based compensation expense for our awards . our forfeiture rate is based on an analysis of our actual forfeitures since the adoption of our equity award plan . we routinely evaluate the appropriateness of the forfeiture rate based on actual forfeiture experience , analysis of employee turnover , and expectations of future option exercise behavior . income taxes income taxes are accounted for using the liability method . deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss and orphan drug tax credit carry forwards . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled . aptevo 's ability to realize deferred tax assets depends upon future taxable income as well

