alport syndrome affects both children and adults and , in patients with the most severe forms of the disease , approximately 50 % progress to dialysis by age of 25 , 90 % by age 40 , and nearly 100 % by age 60. in the phase 2 portion of cardinal , bard demonstrated a statistically significant increase from baseline in mean egfr after 48 weeks of treatment in 25 patients . available historical data for 22 of these patients showed an average annual decline in egfr of 4.2 ml/min/1.73 m 2 in the three-year period prior to study entry . bard also demonstrated a statistically significant increase from baseline in mean egfr at week 52 after withdrawal of drug for four weeks . this retained egfr benefit is important because it provides compelling evidence that drug treatment will delay or prevent the need for dialysis or transplant . the fda has provided us with written guidance that , in patients with ckd caused by alport syndrome , an analysis of retained egfr demonstrating an improvement versus placebo after one year of bard treatment may support accelerated approval , and an improvement versus placebo after two years of treatment may support full approval . the phase 3 portion of cardinal is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of bard in 157 alport syndrome patients randomized one-to-one to active drug or placebo . we have fully enrolled the phase 3 portion of cardinal , and we expect to have one year top-line results available in the second half of 2019. if the trial results are positive , we believe the results , together with other data from our development program , will be sufficient to form the basis of an nda submission to the fda seeking approval of bard for the treatment of ckd caused by alport syndrome . 94 we are currently initiating a phase 3 trial studying bard in patients with adpkd called falcon . adpkd is a rare and serious hereditary form of ckd caused by a genetic defect in genes called pkd1 or pkd2 and is characterized by the formation of fluid-filled cysts in the kidneys . adpkd is the most common single-gene disorder of the kidneys , and there are an estimated 400,000 patients in the united states , with approximately 140,000 patients diagnosed with the disease . during 2018 , we completed a phase 2 clinical trial studying bard in patients with adpkd . in the phase 2 study , bard demonstrated a statistically significant increase from baseline in mean egfr after 12 weeks of treatment in 31 patients . available historical data for 29 of these patients showed an average annual decline in egfr of 4.8 ml/min/1.73 m 2 in the three-year period prior to study entry . the fda has provided us with written guidance that , in patients with adpkd , an analysis of retained egfr demonstrating an improvement versus placebo after one year of bard treatment may support accelerated approval , and an improvement versus placebo after two years of treatment may support full approval . falcon is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of bard in approximately 300 adpkd patients randomized one-to-one to active drug or placebo . we plan to enroll the first adpkd patient in falcon in mid-2019 . we collected phase 2 data studying bard in each of iga nephropathy ( igan ) , type 1 diabetic ckd ( t1d ckd ) , and focal segmental glomerulosclerosis ( fsgs ) . in each of these phase 2 studies , bard demonstrated a statistically significant increase from baseline in mean egfr after 12 weeks of treatment in patients whose available historical data showed annual declines in egfr in the three-year period prior to study entry . we plan to pursue each of these rare and serious forms of ckd as commercial indications . in addition to our ckd development programs , we are conducting a registrational phase 2 clinical trial , part 2 of moxie , studying our second nrf2 activator , omav , in patients with fa . fa is a rare , inherited , debilitating , and degenerative neuromuscular disorder caused by mutations in the gene for frataxin , a mitochondrial protein . patients with fa are typically dependent on wheelchair use 10 to 15 years after disease onset , and their median age of death is in the mid-30s . there are no currently approved therapies for the treatment of fa . in part 1 of moxie , at the optimal dose level , omav demonstrated a statistically significant improvement in modified friedreich 's ataxia rating scale ( mfars ) scores of 3.8 points ( p=0.0001 ) versus baseline and a placebo-corrected improvement in mfars scores of 2.3 points ( p=0.06 ) . part 2 of moxie is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of omav in 103 fa patients randomized one-to-one to active drug or placebo . the fda has provided us with written guidance that the mfars score is acceptable as the primary endpoint for part 2 of moxie and that it may consider either accelerated or full approval based on the overall results of the trial and strength of the data . we have fully enrolled the trial , and we expect to have top-line data from the trial in the second half of 2019. if the trial results are positive , we believe the trial results , together with other data from our development program , will be sufficient to form the basis of an nda submission to the fda seeking approval of omav for the treatment of fa . we are also conducting a phase 3 trial studying bard in patients with ctd-pah called catalyst . story_separator_special_tag research and development expenses increased by 81 % during 2017 compared to 2016. the increase was primarily due to $ 23.9 million in expanded clinical and manufacturing activities , primarily for cardinal , catalyst , the extension trial for catalyst and lariat patients , part 2 of moxie , part 1 of motor , reveal , and phoenix , $ 2.9 million in increased preclinical and manufacturing activities in our rta 1701 , $ 4.0 million in personnel and equity compensation expenses to support growth in our development activities , and $ 0.8 million in increased medical affairs activities . research and development expenses , as a percentage of total expenses , was 75 % , 75 % , and 70 % , for 2018 , 2017 , and 2016 , respectively . the increase of 5 % during 2017 compared to 2016 was primarily due to increased clinical and manufacturing activity related to our registrational trials . general and administrative expenses general and administrative expenses increased by 41 % during 2018 compared to 2017. the increase was primarily due to $ 4.3 million in personnel , consulting , and equity compensation expenses to support growth in our development activities , $ 3.6 million sublicense fees and other expenses from the achievement of the khk milestone , and $ 2.2 million in commercial research activities . general and administrative expenses increased by 40 % during 2017 compared to 2016. the increase was primarily due to $ 4.7 million in personnel , consulting , and equity compensation expenses to support growth in our development activities , $ 0.9 million in commercial research activities , and $ 0.6 million in intellectual property costs due to additional validation of patents , new applications , national stage filings , and license fees . general and administrative expenses , as a percentage of total expenses , was 25 % , 24 % , and 29 % , for 2018 , 2017 , and 2016 , respectively . the decrease of 5 % during 2017 compared to 2016 was primarily due to the increase in research and development expenses for clinical and manufacturing activity related to our registrational trials . investment income the year-over-year increases in investment income during 2018 , 2017 , and 2016 were due to investment and interest income earned on cash equivalents . interest expense the year-over-year increases in interest expense during 2018 , 2017 , and 2016 were attributable to borrowing activities under our restated loan agreement entered in june 2018 and our loan agreement entered in march 2017. provision ( benefit ) for taxes the year-over-year changes in provision ( benefit ) for taxes during 2018 , 2017 , and 2016 were due to differences in income generated and changes in the valuation allowance . 101 liquidity and capital resources since our inception , we have funded our operations primarily through collaboration and license agreements , the sale of preferred and common stock , and secured loans . to date , we have raised gross cash proceeds of $ 476.6 million through the sale of convertible preferred stock and $ 780.0 million from payments under license and collaboration agreements . we also obtained $ 402.3 million in net proceeds from our ipo and follow-on offerings of our class a common stock and $ 77.2 million in net proceeds from our restated loan agreement . we have not generated any revenue from the sale of any products . as of december 31 , 2018 , we had available cash and cash equivalents of approximately $ 337.8 million . our cash and cash equivalents are invested in accordance with our investment policy , primarily with a view to liquidity and capital preservation . story_separator_special_tag $ 232.9 million , after deducting underwriting discounts and commissions and offering expenses . our longer term liquidity requirements will require us to raise additional capital , such as through additional equity or debt financings . our future capital requirements will depend on many factors , including the receipt of milestones under our current collaboration agreements and the timing of our expenditures related to clinical trials . we believe our existing cash and cash equivalents , combined with available future debt , will be sufficient to enable us to fund our operating expenses and capital expenditure requirements into 2021. however , we anticipate opportunistically raising additional capital before that time through equity offerings , collaboration or license agreements , or additional debt in order to maintain adequate capital reserves . in addition , we may choose to raise additional capital at any time for the further development of our existing product candidates and may also need to raise additional funds sooner to pursue other development activities related to additional product candidates . decisions about the timing or nature of any financing will be based on , among other things , our perception of our liquidity and of the market opportunity to raise equity or debt . additional securities may include common stock , preferred stock , or debt securities . we may explore strategic collaborations or license arrangements for certain of our earlier stage assets , including rta 901 and rta 1701. if we do explore any arrangements , there can be no assurance that any agreement will be reached , and we may determine to cease exploring a potential transaction for any or all of the assets at any time . if an agreement is reached , there can be no assurance that any such transaction would provide us with a material amount of additional capital resources . 103 until we can generate a sufficient amount of revenue from our product candidates , if ever , we expect to finance future cash needs through public or private equity or debt offerings , commercial loans , and collaboration or license transactions . additional capital may not be available on reasonable terms , if at all . if we are unable to raise additional capital in sufficient amounts or

cash flows the following table sets forth the primary sources and uses of cash for the years ended december 31 : replace_table_token_12_th operating activities net cash used in operating activities was $ 83.8 million for the year ended december 31 , 2018 , consisting primarily of net loss of $ 80.5 million adjusted for non-cash items including stock-based compensation expense of $ 10.6 million , depreciation and amortization expense of $ 1.2 million , loss on extinguishment of debt of $ 1.0 million , and a net decrease in operating assets and liabilities of $ 16.1 million . the significant items in the change in operating assets and liabilities include an increase of prepaid expenses and other current assets of $ 1.1 million due to prepayments on trial and other operating expenses and reimbursements due from khk , an increase in accrued direct research and other current liabilities of $ 4.4 million due to clinical and manufacturing activities , an increase in accounts payable of $ 2.0 million due to timing of vendor payment , and a decrease in deferred revenue of $ 21.4 million . the decrease in deferred revenue relates to the ratable recognition of revenue over the expected term of the performance obligations under our collaboration agreements with abbvie and khk , which resulted in recognition of $ 51.4 million of license and milestone revenue , offset by the achievement of regulatory milestone of $ 30.0 million related to the khk agreement , which was recognized as deferred revenue . net cash used in operating activities was $ 83.3 million for the year ended december 31 , 2017 , consisting primarily of net loss of $ 47.7 million adjusted for non-cash items including stock-based compensation expense of $ 6.5 million , depreciation and amortization expense of $ 0.6 million , and a net decrease in operating assets and liabilities of $ 42.7 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.
     ```cash flows the following table sets forth the primary sources and uses of cash for the years ended december 31 : replace_table_token_12_th operating activities net cash used in operating activities was $ 83.8 million for the year ended december 31 , 2018 , consisting primarily of net loss of $ 80.5 million adjusted for non-cash items including stock-based compensation expense of $ 10.6 million , depreciation and amortization expense of $ 1.2 million , loss on extinguishment of debt of $ 1.0 million , and a net decrease in operating assets and liabilities of $ 16.1 million . the significant items in the change in operating assets and liabilities include an increase of prepaid expenses and other current assets of $ 1.1 million due to prepayments on trial and other operating expenses and reimbursements due from khk , an increase in accrued direct research and other current liabilities of $ 4.4 million due to clinical and manufacturing activities , an increase in accounts payable of $ 2.0 million due to timing of vendor payment , and a decrease in deferred revenue of $ 21.4 million . the decrease in deferred revenue relates to the ratable recognition of revenue over the expected term of the performance obligations under our collaboration agreements with abbvie and khk , which resulted in recognition of $ 51.4 million of license and milestone revenue , offset by the achievement of regulatory milestone of $ 30.0 million related to the khk agreement , which was recognized as deferred revenue . net cash used in operating activities was $ 83.3 million for the year ended december 31 , 2017 , consisting primarily of net loss of $ 47.7 million adjusted for non-cash items including stock-based compensation expense of $ 6.5 million , depreciation and amortization expense of $ 0.6 million , and a net decrease in operating assets and liabilities of $ 42.7 million .
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 Suspicious Activity Report : alport syndrome affects both children and adults and , in patients with the most severe forms of the disease , approximately 50 % progress to dialysis by age of 25 , 90 % by age 40 , and nearly 100 % by age 60. in the phase 2 portion of cardinal , bard demonstrated a statistically significant increase from baseline in mean egfr after 48 weeks of treatment in 25 patients . available historical data for 22 of these patients showed an average annual decline in egfr of 4.2 ml/min/1.73 m 2 in the three-year period prior to study entry . bard also demonstrated a statistically significant increase from baseline in mean egfr at week 52 after withdrawal of drug for four weeks . this retained egfr benefit is important because it provides compelling evidence that drug treatment will delay or prevent the need for dialysis or transplant . the fda has provided us with written guidance that , in patients with ckd caused by alport syndrome , an analysis of retained egfr demonstrating an improvement versus placebo after one year of bard treatment may support accelerated approval , and an improvement versus placebo after two years of treatment may support full approval . the phase 3 portion of cardinal is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of bard in 157 alport syndrome patients randomized one-to-one to active drug or placebo . we have fully enrolled the phase 3 portion of cardinal , and we expect to have one year top-line results available in the second half of 2019. if the trial results are positive , we believe the results , together with other data from our development program , will be sufficient to form the basis of an nda submission to the fda seeking approval of bard for the treatment of ckd caused by alport syndrome . 94 we are currently initiating a phase 3 trial studying bard in patients with adpkd called falcon . adpkd is a rare and serious hereditary form of ckd caused by a genetic defect in genes called pkd1 or pkd2 and is characterized by the formation of fluid-filled cysts in the kidneys . adpkd is the most common single-gene disorder of the kidneys , and there are an estimated 400,000 patients in the united states , with approximately 140,000 patients diagnosed with the disease . during 2018 , we completed a phase 2 clinical trial studying bard in patients with adpkd . in the phase 2 study , bard demonstrated a statistically significant increase from baseline in mean egfr after 12 weeks of treatment in 31 patients . available historical data for 29 of these patients showed an average annual decline in egfr of 4.8 ml/min/1.73 m 2 in the three-year period prior to study entry . the fda has provided us with written guidance that , in patients with adpkd , an analysis of retained egfr demonstrating an improvement versus placebo after one year of bard treatment may support accelerated approval , and an improvement versus placebo after two years of treatment may support full approval . falcon is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of bard in approximately 300 adpkd patients randomized one-to-one to active drug or placebo . we plan to enroll the first adpkd patient in falcon in mid-2019 . we collected phase 2 data studying bard in each of iga nephropathy ( igan ) , type 1 diabetic ckd ( t1d ckd ) , and focal segmental glomerulosclerosis ( fsgs ) . in each of these phase 2 studies , bard demonstrated a statistically significant increase from baseline in mean egfr after 12 weeks of treatment in patients whose available historical data showed annual declines in egfr in the three-year period prior to study entry . we plan to pursue each of these rare and serious forms of ckd as commercial indications . in addition to our ckd development programs , we are conducting a registrational phase 2 clinical trial , part 2 of moxie , studying our second nrf2 activator , omav , in patients with fa . fa is a rare , inherited , debilitating , and degenerative neuromuscular disorder caused by mutations in the gene for frataxin , a mitochondrial protein . patients with fa are typically dependent on wheelchair use 10 to 15 years after disease onset , and their median age of death is in the mid-30s . there are no currently approved therapies for the treatment of fa . in part 1 of moxie , at the optimal dose level , omav demonstrated a statistically significant improvement in modified friedreich 's ataxia rating scale ( mfars ) scores of 3.8 points ( p=0.0001 ) versus baseline and a placebo-corrected improvement in mfars scores of 2.3 points ( p=0.06 ) . part 2 of moxie is an international , multi-center , randomized , double-blind , placebo-controlled trial studying the safety and efficacy of omav in 103 fa patients randomized one-to-one to active drug or placebo . the fda has provided us with written guidance that the mfars score is acceptable as the primary endpoint for part 2 of moxie and that it may consider either accelerated or full approval based on the overall results of the trial and strength of the data . we have fully enrolled the trial , and we expect to have top-line data from the trial in the second half of 2019. if the trial results are positive , we believe the trial results , together with other data from our development program , will be sufficient to form the basis of an nda submission to the fda seeking approval of omav for the treatment of fa . we are also conducting a phase 3 trial studying bard in patients with ctd-pah called catalyst . story_separator_special_tag research and development expenses increased by 81 % during 2017 compared to 2016. the increase was primarily due to $ 23.9 million in expanded clinical and manufacturing activities , primarily for cardinal , catalyst , the extension trial for catalyst and lariat patients , part 2 of moxie , part 1 of motor , reveal , and phoenix , $ 2.9 million in increased preclinical and manufacturing activities in our rta 1701 , $ 4.0 million in personnel and equity compensation expenses to support growth in our development activities , and $ 0.8 million in increased medical affairs activities . research and development expenses , as a percentage of total expenses , was 75 % , 75 % , and 70 % , for 2018 , 2017 , and 2016 , respectively . the increase of 5 % during 2017 compared to 2016 was primarily due to increased clinical and manufacturing activity related to our registrational trials . general and administrative expenses general and administrative expenses increased by 41 % during 2018 compared to 2017. the increase was primarily due to $ 4.3 million in personnel , consulting , and equity compensation expenses to support growth in our development activities , $ 3.6 million sublicense fees and other expenses from the achievement of the khk milestone , and $ 2.2 million in commercial research activities . general and administrative expenses increased by 40 % during 2017 compared to 2016. the increase was primarily due to $ 4.7 million in personnel , consulting , and equity compensation expenses to support growth in our development activities , $ 0.9 million in commercial research activities , and $ 0.6 million in intellectual property costs due to additional validation of patents , new applications , national stage filings , and license fees . general and administrative expenses , as a percentage of total expenses , was 25 % , 24 % , and 29 % , for 2018 , 2017 , and 2016 , respectively . the decrease of 5 % during 2017 compared to 2016 was primarily due to the increase in research and development expenses for clinical and manufacturing activity related to our registrational trials . investment income the year-over-year increases in investment income during 2018 , 2017 , and 2016 were due to investment and interest income earned on cash equivalents . interest expense the year-over-year increases in interest expense during 2018 , 2017 , and 2016 were attributable to borrowing activities under our restated loan agreement entered in june 2018 and our loan agreement entered in march 2017. provision ( benefit ) for taxes the year-over-year changes in provision ( benefit ) for taxes during 2018 , 2017 , and 2016 were due to differences in income generated and changes in the valuation allowance . 101 liquidity and capital resources since our inception , we have funded our operations primarily through collaboration and license agreements , the sale of preferred and common stock , and secured loans . to date , we have raised gross cash proceeds of $ 476.6 million through the sale of convertible preferred stock and $ 780.0 million from payments under license and collaboration agreements . we also obtained $ 402.3 million in net proceeds from our ipo and follow-on offerings of our class a common stock and $ 77.2 million in net proceeds from our restated loan agreement . we have not generated any revenue from the sale of any products . as of december 31 , 2018 , we had available cash and cash equivalents of approximately $ 337.8 million . our cash and cash equivalents are invested in accordance with our investment policy , primarily with a view to liquidity and capital preservation . story_separator_special_tag $ 232.9 million , after deducting underwriting discounts and commissions and offering expenses . our longer term liquidity requirements will require us to raise additional capital , such as through additional equity or debt financings . our future capital requirements will depend on many factors , including the receipt of milestones under our current collaboration agreements and the timing of our expenditures related to clinical trials . we believe our existing cash and cash equivalents , combined with available future debt , will be sufficient to enable us to fund our operating expenses and capital expenditure requirements into 2021. however , we anticipate opportunistically raising additional capital before that time through equity offerings , collaboration or license agreements , or additional debt in order to maintain adequate capital reserves . in addition , we may choose to raise additional capital at any time for the further development of our existing product candidates and may also need to raise additional funds sooner to pursue other development activities related to additional product candidates . decisions about the timing or nature of any financing will be based on , among other things , our perception of our liquidity and of the market opportunity to raise equity or debt . additional securities may include common stock , preferred stock , or debt securities . we may explore strategic collaborations or license arrangements for certain of our earlier stage assets , including rta 901 and rta 1701. if we do explore any arrangements , there can be no assurance that any agreement will be reached , and we may determine to cease exploring a potential transaction for any or all of the assets at any time . if an agreement is reached , there can be no assurance that any such transaction would provide us with a material amount of additional capital resources . 103 until we can generate a sufficient amount of revenue from our product candidates , if ever , we expect to finance future cash needs through public or private equity or debt offerings , commercial loans , and collaboration or license transactions . additional capital may not be available on reasonable terms , if at all . if we are unable to raise additional capital in sufficient amounts or

