the european commission has granted orphan drug designation to eg-1962 for treatment of asah . in july 2016 , we commenced the phase 3 newton 2 study for eg-1962 . newton 2 is a multi-center , multi-national , randomized , double-blind , placebo-controlled , parallel-group study comparing the efficacy and safety of eg-1962 to standard of care oral nimodipine in adults with an asah . the primary endpoint of the newton 2 study is the proportion of subjects with a favorable clinical outcome ( a score of 6 – 8 on the gose ) at day 90. the key secondary endpoint is the subject 's score on moca . we expect the results of an interim analysis of newton 2 to be completed in early 2018. depending on the results of the interim analysis , the study may continue to full data readout , in which case we expect the results of the study to be available in late 2018. the final results of the newton 2 study , if positive , are expected to form the basis for a marketing application to the fda and other global health regulatory authorities for the approval of eg-1962 for the treatment of asah . in the united states , we plan to use the fda section 505 ( b ) ( 2 ) regulatory pathway . our phase 1/2 clinical study of eg-1962 in north america , which we refer to as our newton north america study , met its primary and secondary endpoints of safety , tolerability , defining the mtd and pharmacokinetics . the results of the principal exploratory efficacy endpoint from the 90-day follow-up demonstrated that 60 % ( 27 of 45 ) of patients treated with eg-1962 experienced a favorable clinical outcome ( a score of 6-8 on the gose ) versus 28 % ( 5 of 18 ) of patients treated with the standard of care oral nimodipine . at the final assessment , of the 45 patients treated with eg-1962 , 29 % ( 13 of 45 ) of patients achieved the highest clinical outcome score ( gose=8 , upper good recovery ) versus 6 % ( 1 of 18 ) patients treated with the standard of care oral nimodipine . a phase 1 study of the safety , pharmacokinetics and clinical outcomes of eg-1962 administered intracisternally , or directly into the basal cisterns of the brain is open for enrollment for patients with asah who do not receive an evd but remain at risk for delayed neurological complications following surgical repair of a ruptured aneurysm . this study is a multicenter , randomized , controlled , open-label study in which nine patients are expected to receive eg-1962 via intracisternal administration and three patients are expected to receive standard of care oral nimodipine . we expect data to be available from this study during 2017. in addition to eg-1962 , we are using our precisa development platform to develop additional product candidates targeting other acute , serious conditions where limited or no current approved therapies exist . we are developing our second product candidate , eg-1964 , as a prophylactic treatment in the management of csdh , to prevent recurrent bleeding on the surface of the brain . a csdh is a liquefied hematoma that has accumulated on the surface of the brain in an area referred to as the subdural space and is often caused by minor head trauma . following neurosurgical intervention to drain the hematoma , bleeding in the subdural space typically recurs in 3 % to 33 % of patients at which point another costly and risky surgical intervention is required . eg-1964 contains aprotinin , a serine protease inhibitor isolated from the lungs and pancreas which was approved to reduce bleeding after cardiac surgery . aprotinin works by slowing the breakdown of blood clots . we are in the process of formulating eg-1964 to deliver a high concentration of aprotinin directly to the subdural space by way of a single administration at the time of initial neurosurgical intervention with sustained drug exposure over 21 to 28 days . if approved , we expect that eg-1964 can become the standard of care as a prophylactic treatment in the management of csdh to prevent recurrent bleeding . we intend to complete formulation development activities and commence non-clinical studies of eg-1964 in 2017. based on the results of those studies , in 2018 , we may submit to the fda a request for authorization to investigate a new drug in human clinical studies , known as an ind , for eg-1964 . from our inception in 2009 , we have devoted substantially all of our efforts to business planning , engaging regulatory , manufacturing and other technical consultants , developing operating assets , planning and executing clinical trials and raising capital . we have never been profitable and have incurred net losses in each year since inception . our net losses were $ 38.8 million , $ 28.1 million and $ 12.2 million for the years ended december 31 , 2016 , 2015 and 2014 respectively . as of december 31 , 2016 , we had an accumulated deficit of approximately $ 101.0 million . substantially all of our net losses resulted from costs incurred in connection with our research and development programs and from general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . story_separator_special_tag cash used in investing activities was $ 0.7 million , $ 1.3 million and $ 0.9 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which in each period relates entirely to purchases of property and equipment . net cash provided by financing activities net cash provided by financing activities of $ 9.1 million for the year ended december 31 , 2016 was primarily due to the receipt of net proceeds from the issuance of debt of $ 10.8 million less payments of our existing debt obligations of $ 1.5 million and deferred offering costs of $ 0.5 million . net cash provided by financing activities of $ 139.5 million for the year ended december 31 , 2015 was primarily due to the proceeds from the issuance of common stock of $ 82.8 million , preferred stock of $ 52.4 million and debt of $ 3.0 million . net cash provided by financing activities of $ 16.5 million for the year ended december 31 , 2014 was primarily due to the proceeds from sales of our preferred stock $ 14.9 million and debt of $ 3.0 million . operating capital requirements we expect that our primary uses of capital will continue to be third-party clinical research , development and manufacturing services , compensation and related expenses , laboratory and related supplies , legal and other regulatory expenses and general administrative costs . we believe that our existing cash and cash equivalents as of december 31 , 2016 , will be sufficient to meet our anticipated cash requirements through the full data readout of the newton 2 trial of eg-1962 for the treatment of asah which is anticipated to occur in late 2018. our forecast of the period of time through which our financial resources will be adequate to support our operations is a forward-looking statement that involves risks and uncertainties , and actual results could vary materially as a result of a number of factors . we have based this estimate on assumptions that may prove to be wrong , and we could utilize our available capital resources sooner than we currently expect . our future capital requirements are difficult to forecast and will depend on many factors , including : page | 69 index the initiation , progress , timing , costs and results of the clinical trials for our product candidates to meet regulatory approval , particularly whether the fda requires us to complete a second phase 3 trials for eg-1962 or requires changes to the anticipated design of our phase 3 program for eg-1962 , such as changes in the required control arm of any such trial ; the outcome of planned interactions with the fda and other non-u.s. health authorities that may alter our proposed phase 3 program for eg-1962 that is required to meet the standards of a marketing authorization approval in asah ; the clinical development plans we establish for these product candidates ; the number and characteristics of product candidates that we develop or may acquire or in-license ; the cost of filing , prosecuting , defending and enforcing our patent claims and other intellectual property rights ; the cost of defending intellectual property disputes , including patent infringement actions brought by third parties against us or our product candidates ; the effect of competing technological and market developments ; the cost and timing of completion of both clinical and commercial-scale manufacturing activities , which may be outsourced ; and the cost of establishing sales , marketing and distribution capabilities for any product candidates for which we may receive regulatory approval in regions where we choose to commercialize our products on our own . please see the section titled “ risk factors ” elsewhere in this annual report for additional risks associated with our substantial capital requirements . until such time , if ever , that we generate product revenue , we expect to finance our cash needs through a combination of public or private equity offerings , debt financings and research collaboration and license agreements . we may be unable to raise capital or enter into such other arrangements when needed or on favorable terms or at all . our failure to raise capital or enter into such other arrangements as and when needed may have a negative impact on our financial condition and our ability to develop our product candidates . contractual obligations and commitments the following is a summary of our contractual obligations as of the date indicated : replace_table_token_9_th this table above does not include ( a ) any milestone payments which may become payable to third parties under our license agreements as the timing and likelihood of such payments are not known , or ( b ) contracts that are entered into in the ordinary course of business which are not material in the aggregate in any period presented above . purchase commitments we have no material non-cancelable purchase commitments with service providers as we have generally contracted on a cancelable , purchase order basis . page | 70 index milestone and royalty-based commitments pursuant to the evonik agreement , in exchange for the license , the company agreed to make milestone payments totaling up to $ 14.75 million upon the achievement of certain development , regulatory and sales milestones detailed in the evonik agreement . we paid $ 0.25 million upon execution of the evonik agreement . in august 2016 , we paid a milestone of $ 1.0 million after we dosed the first patient in the phase 3 clinical trial of eg-1962 . in addition , the evonik agreement calls for the company to pay royalties on sales of certain products based on a mid-single digit percentage of net sales . the evonik agreement provides for the reduction of royalties in certain circumstances . jobs act on april 5 , 2012 , the jobs act was enacted . section 107 of the jobs act provides that an “ emerging

liquidity and capital resources since our inception and through december 31 , 2016 , we have raised aggregate net proceeds of $ 185.5 million to fund our operations , primarily $ 82.8 million from the sale of common stock in our ipo , $ 87.5 million from the sale of preferred stock and $ 15.0 million from a loan . as of december 31 , 2016 , we had total cash and cash equivalents of $ 106.4 million as compared to $ 130.2 million as of december 31 , 2015. the $ 23.8 million decrease in total cash , net of proceeds from new debt of $ 10.8 million , was due primarily to funding of operations , which mainly consisted of research and development activities , general and administrative expenses and payments for debt principal reduction offset by proceeds from the issuance of debt . on october 6 , 2015 , we completed the ipo of our common stock for aggregate gross proceeds of approximately $ 92.5 million . we received approximately $ 82.8 million in net proceeds after deducting underwriting discounts and commissions and other offering costs of approximately $ 9.7 million . in connection with the ipo , all preferred stock was converted into common stock . there is no preferred stock outstanding as of december 31 , 2016 , nor are there any preferred stock dividends accrued or payable . hercules loan and security agreement on august 28 , 2014 , we entered into a loan and security agreement with hercules technology growth capital , inc. , ( the “ original loan agreement ” ) . the original loan agreement provided funding for an aggregate principal amount of up to $ 10.0 million in three separate term loans . the first term loan was funded on august 28 , 2014 in the amount of $ 3.0 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 since our inception and through december 31 , 2016 , we have raised aggregate net proceeds of $ 185.5 million to fund our operations , primarily $ 82.8 million from the sale of common stock in our ipo , $ 87.5 million from the sale of preferred stock and $ 15.0 million from a loan . as of december 31 , 2016 , we had total cash and cash equivalents of $ 106.4 million as compared to $ 130.2 million as of december 31 , 2015. the $ 23.8 million decrease in total cash , net of proceeds from new debt of $ 10.8 million , was due primarily to funding of operations , which mainly consisted of research and development activities , general and administrative expenses and payments for debt principal reduction offset by proceeds from the issuance of debt . on october 6 , 2015 , we completed the ipo of our common stock for aggregate gross proceeds of approximately $ 92.5 million . we received approximately $ 82.8 million in net proceeds after deducting underwriting discounts and commissions and other offering costs of approximately $ 9.7 million . in connection with the ipo , all preferred stock was converted into common stock . there is no preferred stock outstanding as of december 31 , 2016 , nor are there any preferred stock dividends accrued or payable . hercules loan and security agreement on august 28 , 2014 , we entered into a loan and security agreement with hercules technology growth capital , inc. , ( the “ original loan agreement ” ) . the original loan agreement provided funding for an aggregate principal amount of up to $ 10.0 million in three separate term loans . the first term loan was funded on august 28 , 2014 in the amount of $ 3.0 million .
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 Suspicious Activity Report : the european commission has granted orphan drug designation to eg-1962 for treatment of asah . in july 2016 , we commenced the phase 3 newton 2 study for eg-1962 . newton 2 is a multi-center , multi-national , randomized , double-blind , placebo-controlled , parallel-group study comparing the efficacy and safety of eg-1962 to standard of care oral nimodipine in adults with an asah . the primary endpoint of the newton 2 study is the proportion of subjects with a favorable clinical outcome ( a score of 6 – 8 on the gose ) at day 90. the key secondary endpoint is the subject 's score on moca . we expect the results of an interim analysis of newton 2 to be completed in early 2018. depending on the results of the interim analysis , the study may continue to full data readout , in which case we expect the results of the study to be available in late 2018. the final results of the newton 2 study , if positive , are expected to form the basis for a marketing application to the fda and other global health regulatory authorities for the approval of eg-1962 for the treatment of asah . in the united states , we plan to use the fda section 505 ( b ) ( 2 ) regulatory pathway . our phase 1/2 clinical study of eg-1962 in north america , which we refer to as our newton north america study , met its primary and secondary endpoints of safety , tolerability , defining the mtd and pharmacokinetics . the results of the principal exploratory efficacy endpoint from the 90-day follow-up demonstrated that 60 % ( 27 of 45 ) of patients treated with eg-1962 experienced a favorable clinical outcome ( a score of 6-8 on the gose ) versus 28 % ( 5 of 18 ) of patients treated with the standard of care oral nimodipine . at the final assessment , of the 45 patients treated with eg-1962 , 29 % ( 13 of 45 ) of patients achieved the highest clinical outcome score ( gose=8 , upper good recovery ) versus 6 % ( 1 of 18 ) patients treated with the standard of care oral nimodipine . a phase 1 study of the safety , pharmacokinetics and clinical outcomes of eg-1962 administered intracisternally , or directly into the basal cisterns of the brain is open for enrollment for patients with asah who do not receive an evd but remain at risk for delayed neurological complications following surgical repair of a ruptured aneurysm . this study is a multicenter , randomized , controlled , open-label study in which nine patients are expected to receive eg-1962 via intracisternal administration and three patients are expected to receive standard of care oral nimodipine . we expect data to be available from this study during 2017. in addition to eg-1962 , we are using our precisa development platform to develop additional product candidates targeting other acute , serious conditions where limited or no current approved therapies exist . we are developing our second product candidate , eg-1964 , as a prophylactic treatment in the management of csdh , to prevent recurrent bleeding on the surface of the brain . a csdh is a liquefied hematoma that has accumulated on the surface of the brain in an area referred to as the subdural space and is often caused by minor head trauma . following neurosurgical intervention to drain the hematoma , bleeding in the subdural space typically recurs in 3 % to 33 % of patients at which point another costly and risky surgical intervention is required . eg-1964 contains aprotinin , a serine protease inhibitor isolated from the lungs and pancreas which was approved to reduce bleeding after cardiac surgery . aprotinin works by slowing the breakdown of blood clots . we are in the process of formulating eg-1964 to deliver a high concentration of aprotinin directly to the subdural space by way of a single administration at the time of initial neurosurgical intervention with sustained drug exposure over 21 to 28 days . if approved , we expect that eg-1964 can become the standard of care as a prophylactic treatment in the management of csdh to prevent recurrent bleeding . we intend to complete formulation development activities and commence non-clinical studies of eg-1964 in 2017. based on the results of those studies , in 2018 , we may submit to the fda a request for authorization to investigate a new drug in human clinical studies , known as an ind , for eg-1964 . from our inception in 2009 , we have devoted substantially all of our efforts to business planning , engaging regulatory , manufacturing and other technical consultants , developing operating assets , planning and executing clinical trials and raising capital . we have never been profitable and have incurred net losses in each year since inception . our net losses were $ 38.8 million , $ 28.1 million and $ 12.2 million for the years ended december 31 , 2016 , 2015 and 2014 respectively . as of december 31 , 2016 , we had an accumulated deficit of approximately $ 101.0 million . substantially all of our net losses resulted from costs incurred in connection with our research and development programs and from general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years . our net losses may fluctuate significantly from quarter to quarter and year to year . story_separator_special_tag cash used in investing activities was $ 0.7 million , $ 1.3 million and $ 0.9 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which in each period relates entirely to purchases of property and equipment . net cash provided by financing activities net cash provided by financing activities of $ 9.1 million for the year ended december 31 , 2016 was primarily due to the receipt of net proceeds from the issuance of debt of $ 10.8 million less payments of our existing debt obligations of $ 1.5 million and deferred offering costs of $ 0.5 million . net cash provided by financing activities of $ 139.5 million for the year ended december 31 , 2015 was primarily due to the proceeds from the issuance of common stock of $ 82.8 million , preferred stock of $ 52.4 million and debt of $ 3.0 million . net cash provided by financing activities of $ 16.5 million for the year ended december 31 , 2014 was primarily due to the proceeds from sales of our preferred stock $ 14.9 million and debt of $ 3.0 million . operating capital requirements we expect that our primary uses of capital will continue to be third-party clinical research , development and manufacturing services , compensation and related expenses , laboratory and related supplies , legal and other regulatory expenses and general administrative costs . we believe that our existing cash and cash equivalents as of december 31 , 2016 , will be sufficient to meet our anticipated cash requirements through the full data readout of the newton 2 trial of eg-1962 for the treatment of asah which is anticipated to occur in late 2018. our forecast of the period of time through which our financial resources will be adequate to support our operations is a forward-looking statement that involves risks and uncertainties , and actual results could vary materially as a result of a number of factors . we have based this estimate on assumptions that may prove to be wrong , and we could utilize our available capital resources sooner than we currently expect . our future capital requirements are difficult to forecast and will depend on many factors , including : page | 69 index the initiation , progress , timing , costs and results of the clinical trials for our product candidates to meet regulatory approval , particularly whether the fda requires us to complete a second phase 3 trials for eg-1962 or requires changes to the anticipated design of our phase 3 program for eg-1962 , such as changes in the required control arm of any such trial ; the outcome of planned interactions with the fda and other non-u.s. health authorities that may alter our proposed phase 3 program for eg-1962 that is required to meet the standards of a marketing authorization approval in asah ; the clinical development plans we establish for these product candidates ; the number and characteristics of product candidates that we develop or may acquire or in-license ; the cost of filing , prosecuting , defending and enforcing our patent claims and other intellectual property rights ; the cost of defending intellectual property disputes , including patent infringement actions brought by third parties against us or our product candidates ; the effect of competing technological and market developments ; the cost and timing of completion of both clinical and commercial-scale manufacturing activities , which may be outsourced ; and the cost of establishing sales , marketing and distribution capabilities for any product candidates for which we may receive regulatory approval in regions where we choose to commercialize our products on our own . please see the section titled “ risk factors ” elsewhere in this annual report for additional risks associated with our substantial capital requirements . until such time , if ever , that we generate product revenue , we expect to finance our cash needs through a combination of public or private equity offerings , debt financings and research collaboration and license agreements . we may be unable to raise capital or enter into such other arrangements when needed or on favorable terms or at all . our failure to raise capital or enter into such other arrangements as and when needed may have a negative impact on our financial condition and our ability to develop our product candidates . contractual obligations and commitments the following is a summary of our contractual obligations as of the date indicated : replace_table_token_9_th this table above does not include ( a ) any milestone payments which may become payable to third parties under our license agreements as the timing and likelihood of such payments are not known , or ( b ) contracts that are entered into in the ordinary course of business which are not material in the aggregate in any period presented above . purchase commitments we have no material non-cancelable purchase commitments with service providers as we have generally contracted on a cancelable , purchase order basis . page | 70 index milestone and royalty-based commitments pursuant to the evonik agreement , in exchange for the license , the company agreed to make milestone payments totaling up to $ 14.75 million upon the achievement of certain development , regulatory and sales milestones detailed in the evonik agreement . we paid $ 0.25 million upon execution of the evonik agreement . in august 2016 , we paid a milestone of $ 1.0 million after we dosed the first patient in the phase 3 clinical trial of eg-1962 . in addition , the evonik agreement calls for the company to pay royalties on sales of certain products based on a mid-single digit percentage of net sales . the evonik agreement provides for the reduction of royalties in certain circumstances . jobs act on april 5 , 2012 , the jobs act was enacted . section 107 of the jobs act provides that an “ emerging

