results of operations overview revenues were $ 41.8 million in 2015 , an 18 % increase from $ 35.3 million in 2014 . biocatalyst product sales revenues , which consist primarily of sales of biocatalyst intermediates , apis and codex® biocatalyst panels and kits , were $ 11.4 million in 2015 , a decrease of 13 % compared with $ 13.1 million in 2014 . the decrease was primarily due to the timing of customer demand in 2015 as compared to 2014. biocatalyst research and development revenues , which include license , technology access and exclusivity fees , research services , milestone payments , royalties , and optimization and screening fees , totaled $ 25.6 million in 2015 , an increase of 71 % , 39 compared with $ 14.9 million in 2014 . the increase was primarily due to the achievement of the first milestone under the merck license agreement of $ 5.0 million , $ 1.5 million increase in milestone related revenue recognized under the gsk license agreement ( $ 6.5 million in 2015 compared to $ 5.0 million in the prior year ) , $ 3.1 million settlement relating to past-due payments and settlement of future payments associated with our royalty business with a non-core customer , and $ 1.5 million in research and development revenues relating to the project we initiated with the leading biopharmaceutical company in 2015. revenue sharing arrangement sales were $ 4.8 million in 2015 , a decrease of 34 % , compared with $ 7.3 million in 2014 . the decline resulted following the expiration of the formulation patent for argatroban in june 2014 , allowing for increased generic competition in the subsequent quarters after the expiration of the patent . research and development expenses were $ 20.7 million in 2015 , a decrease of 9 % from $ 22.8 million in 2014 . the decrease was primarily due to lower depreciation expense resulting from the disposal and impairment of certain equipment previously used in discontinued research and development activities and the sale of our hungarian subsidiary in 2014 , partially offset by an increase in employee-related expenses . selling , general and administrative expenses were $ 22.3 million in 2015 , an increase of 2 % compared to $ 21.9 million in 2014 . the increase was primarily due to increases in personnel-related expenses , including an increase in stock-based compensation , partially offset by decreases in legal and contractor expenses . net loss was $ 7.6 million , or a loss of $ 0.19 per share , in 2015 . this compares favorably to a net loss of $ 19.1 million , or a loss of $ 0.50 per share , in 2014 . the reduced loss is primarily related to higher revenue , lower cost of product revenues due to a favorable product sales mix in 2015 as well as lower research and development expense as noted above . cash and cash equivalents decreased to $ 23.3 million as of december 31 , 2015 compared to $ 26.5 million as of december 31 , 2014 . in addition , net cash used in operations was $ 0.4 million in 2015 , as compared to net cash provided by operations of $ 0.3 million in 2014 . we are actively collaborating with new and existing customers in the pharmaceutical and other markets and we believe that we can utilize our products and services , and develop new products and services , to increase our revenue and gross margins in future periods . we believe that , based on our current level of operations , our existing cash , cash equivalents and marketable securities will provide adequate funds for ongoing operations , planned capital expenditures and working capital requirements for at least the next 12 months . gsk platform technology transfer , collaboration and license agreement in july 2014 , we entered into the gsk codeevolver ® agreement . pursuant to the terms of the agreement , we granted gsk a non-exclusive license to use the codeevolver ® platform technology to develop novel enzymes for use in the manufacture of gsk 's pharmaceutical and health care products . we received a $ 6.0 million up-front license fee upon execution of the gsk codeevolver ® agreement and subsequently a $ 5.0 million non-creditable , non-refundable milestone payment upon achievement of the first milestone in 2014. in september 2015 , we achieved the second milestone and recognized the related milestone payment of $ 6.5 million . we are eligible to receive an additional contingent payment of $ 7.5 million upon the completion of the three-year technology transfer period . we also have the potential to receive additional contingent payments that range from $ 5.75 million to $ 38.5 million per project based on gsk 's successful application of the licensed technology . the contingent payments are not deemed substantive milestones due to the fact that the achievement of the event underlying the payment predominantly relates to gsk 's performance of future development and commercialization activities . for up to three years following the end of the technology transfer period , gsk can exercise an option , upon payment of certain additional fees , that would extend gsk 's license to include certain improvements to the codeevolver ® protein engineering technology platform that arise during such additional period . in addition , we are eligible to receive royalties based on net sales , if any , of a limited set of products developed by gsk using the codeevolver ® protein engineering technology platform . the up-front license fee of $ 6.0 million is being recognized ratably over the three-year technology transfer period . we recognized license fees of $ 2.0 million and $ 1.0 million , respectively , in 2015 and 2014 , as biocatalyst research and development revenue . as of december 31 , 2015 and 2014 , we had deferred revenue from gsk related to the up-front license fee of $ 3.0 story_separator_special_tag if future financings involve the issuance of equity securities , our existing stockholders would suffer dilution . if we raise debt financing , we may be subject to restrictive covenants that limit our ability to conduct our business . we may not be able to raise sufficient additional funds on terms that are favorable to us , if at all . if we fail to raise sufficient funds and fail to generate sufficient revenue to achieve planned gross margins and to control operating costs , our ability to fund our operations , take advantage of strategic opportunities , develop products or technologies , or otherwise respond to competitive pressures could be significantly limited . if this happens , we may be forced to delay or terminate research or development programs or the commercialization of products resulting from our technologies , curtail or cease operations or obtain funds through collaborative and licensing arrangements that may require us to relinquish commercial rights , or grant licenses on terms that are not favorable to us . if adequate funds are not available , we will not be able to successfully execute our business plan or continue our business . story_separator_special_tag style= `` line-height:120 % ; padding-top:12px ; font-size:10pt ; `` > the following table summarizes our significant contractual obligations at december 31 , 2015 ( in thousands ) : replace_table_token_14_th ( 1 ) represents future minimum lease payments under non-cancelable operating leases in effect as of december 31 , 2015 for our facilities in redwood city , california . the minimum lease payments above do not include common area maintenance charges or real estate taxes . in addition , amounts have not been reduced by future minimum sublease rentals to be received under non-cancellable subleases . ( 2 ) excludes $ 0.7 million of uncertain tax liabilities for which we can not make a reasonably reliable estimate of the period of cash settlement . off-balance sheet arrangements as of december 31 , 2015 , we had no off-balance sheet arrangements as defined in item 303 ( a ) ( 4 ) of regulation s-k as promulgated by the sec . critical accounting policies and estimates management 's discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements . the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the united states and include our accounts and the accounts of our wholly-owned subsidiaries . the preparation of our consolidated financial statements requires our management to make estimates , assumptions , and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements , and the reported amounts of revenues and expenses during the applicable periods . management bases its estimates , assumptions and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances . different assumptions and judgments would change the estimates used in the preparation of our consolidated financial statements , which , in turn , could change the results from those reported . our management evaluates its estimates , assumptions and judgments on an ongoing basis . the critical accounting policies requiring estimates , assumptions , and judgments that we believe have the most significant impact on our consolidated financial statements are described below . revenue recognition we recognize revenue from the sale of our biocatalyst products , biocatalyst research and development agreements and revenue sharing arrangements . revenue is recognized when the related costs are incurred and the four basic criteria of revenue recognition are met : ( 1 ) persuasive evidence of an arrangement exists ; ( 2 ) delivery has occurred or services have been rendered ; ( 3 ) the fee is fixed or determinable ; and ( 4 ) collectability is reasonably assured . where the revenue recognition criteria are not met , we defer the recognition of revenue by recording deferred revenue until such time that all criteria of revenue recognition are met . we account for revenues from multiple element arrangements , such as license and platform technology transfer agreements in which a licensee may purchase several deliverables , in accordance with financial accounting standards board ( “ fasb ” ) 47 accounting standards codification ( “ asc ” ) subtopic 605-25 , “ multiple element arrangements . ” for new or materially amended multiple element arrangements , we identify the deliverables at the inception of the arrangement and each deliverable within a multiple deliverable revenue arrangement is accounted for as a separate unit of accounting if both of the following criteria are met : ( 1 ) the delivered item or items have value to the customer on a standalone basis and ( 2 ) for an arrangement that includes a general right of return relative to the delivered item ( s ) , delivery or performance of the undelivered item ( s ) is considered probable and substantially in our control . revenue allocated to each element is then recognized based on when the basic four revenue recognition criteria are met for each element . where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a collaborative arrangement , they are recorded as deferred revenue and recognized as revenue ratably over the term of our estimated performance period under the agreement . we determine the estimated performance periods , and they are periodically reviewed based on the progress of the related program . the effect of any change made to an estimated performance period and , therefore , to revenue recognized , would occur on a prospective basis in the period that the change was made . biocatalyst product sales biocatalyst product sales consist of sales of biocatalyst intermediates , api and codex ® biocatalyst panels and kits . biocatalyst product sales are recognized once passage of title

cash flows the following is a summary of cash flows for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_13_th cash flows from operating activities cash used in operating activities was $ 0.4 million in 2015 , which resulted from a net loss of $ 7.6 million adjusted for non-cash depreciation and amortization of $ 5.4 million and stock-based compensation of $ 5.1 million , as well as changes in operating assets and liabilities . the net change in operating assets and liabilities included increases in accounts receivable of $ 3.5 million due primarily to an accrual of a settlement payment from a customer relating to past-due payments and a buy-out of future payments , increases in deferred revenue of $ 1.9 million due mainly to the codeevolver ® technology transfer to merck , and decreases in accounts payable of $ 1.3 million due to timing of payment of invoices . cash provided by operating activities was $ 0.3 million in 2014 , which resulted from a net loss of $ 19.1 million adjusted for non-cash depreciation and amortization of $ 6.7 million , stock-based compensation of $ 4.6 million and impairment and changes in fair values for assets held for use charges totaling $ 2.5 million , partially offset by $ 4.2 million received in up-frontfees under a collaborative arrangement and a gain on the sale of the hungarian subsidiary of $ 0.8 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 is a summary of cash flows for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_13_th cash flows from operating activities cash used in operating activities was $ 0.4 million in 2015 , which resulted from a net loss of $ 7.6 million adjusted for non-cash depreciation and amortization of $ 5.4 million and stock-based compensation of $ 5.1 million , as well as changes in operating assets and liabilities . the net change in operating assets and liabilities included increases in accounts receivable of $ 3.5 million due primarily to an accrual of a settlement payment from a customer relating to past-due payments and a buy-out of future payments , increases in deferred revenue of $ 1.9 million due mainly to the codeevolver ® technology transfer to merck , and decreases in accounts payable of $ 1.3 million due to timing of payment of invoices . cash provided by operating activities was $ 0.3 million in 2014 , which resulted from a net loss of $ 19.1 million adjusted for non-cash depreciation and amortization of $ 6.7 million , stock-based compensation of $ 4.6 million and impairment and changes in fair values for assets held for use charges totaling $ 2.5 million , partially offset by $ 4.2 million received in up-frontfees under a collaborative arrangement and a gain on the sale of the hungarian subsidiary of $ 0.8 million .
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 Suspicious Activity Report : results of operations overview revenues were $ 41.8 million in 2015 , an 18 % increase from $ 35.3 million in 2014 . biocatalyst product sales revenues , which consist primarily of sales of biocatalyst intermediates , apis and codex® biocatalyst panels and kits , were $ 11.4 million in 2015 , a decrease of 13 % compared with $ 13.1 million in 2014 . the decrease was primarily due to the timing of customer demand in 2015 as compared to 2014. biocatalyst research and development revenues , which include license , technology access and exclusivity fees , research services , milestone payments , royalties , and optimization and screening fees , totaled $ 25.6 million in 2015 , an increase of 71 % , 39 compared with $ 14.9 million in 2014 . the increase was primarily due to the achievement of the first milestone under the merck license agreement of $ 5.0 million , $ 1.5 million increase in milestone related revenue recognized under the gsk license agreement ( $ 6.5 million in 2015 compared to $ 5.0 million in the prior year ) , $ 3.1 million settlement relating to past-due payments and settlement of future payments associated with our royalty business with a non-core customer , and $ 1.5 million in research and development revenues relating to the project we initiated with the leading biopharmaceutical company in 2015. revenue sharing arrangement sales were $ 4.8 million in 2015 , a decrease of 34 % , compared with $ 7.3 million in 2014 . the decline resulted following the expiration of the formulation patent for argatroban in june 2014 , allowing for increased generic competition in the subsequent quarters after the expiration of the patent . research and development expenses were $ 20.7 million in 2015 , a decrease of 9 % from $ 22.8 million in 2014 . the decrease was primarily due to lower depreciation expense resulting from the disposal and impairment of certain equipment previously used in discontinued research and development activities and the sale of our hungarian subsidiary in 2014 , partially offset by an increase in employee-related expenses . selling , general and administrative expenses were $ 22.3 million in 2015 , an increase of 2 % compared to $ 21.9 million in 2014 . the increase was primarily due to increases in personnel-related expenses , including an increase in stock-based compensation , partially offset by decreases in legal and contractor expenses . net loss was $ 7.6 million , or a loss of $ 0.19 per share , in 2015 . this compares favorably to a net loss of $ 19.1 million , or a loss of $ 0.50 per share , in 2014 . the reduced loss is primarily related to higher revenue , lower cost of product revenues due to a favorable product sales mix in 2015 as well as lower research and development expense as noted above . cash and cash equivalents decreased to $ 23.3 million as of december 31 , 2015 compared to $ 26.5 million as of december 31 , 2014 . in addition , net cash used in operations was $ 0.4 million in 2015 , as compared to net cash provided by operations of $ 0.3 million in 2014 . we are actively collaborating with new and existing customers in the pharmaceutical and other markets and we believe that we can utilize our products and services , and develop new products and services , to increase our revenue and gross margins in future periods . we believe that , based on our current level of operations , our existing cash , cash equivalents and marketable securities will provide adequate funds for ongoing operations , planned capital expenditures and working capital requirements for at least the next 12 months . gsk platform technology transfer , collaboration and license agreement in july 2014 , we entered into the gsk codeevolver ® agreement . pursuant to the terms of the agreement , we granted gsk a non-exclusive license to use the codeevolver ® platform technology to develop novel enzymes for use in the manufacture of gsk 's pharmaceutical and health care products . we received a $ 6.0 million up-front license fee upon execution of the gsk codeevolver ® agreement and subsequently a $ 5.0 million non-creditable , non-refundable milestone payment upon achievement of the first milestone in 2014. in september 2015 , we achieved the second milestone and recognized the related milestone payment of $ 6.5 million . we are eligible to receive an additional contingent payment of $ 7.5 million upon the completion of the three-year technology transfer period . we also have the potential to receive additional contingent payments that range from $ 5.75 million to $ 38.5 million per project based on gsk 's successful application of the licensed technology . the contingent payments are not deemed substantive milestones due to the fact that the achievement of the event underlying the payment predominantly relates to gsk 's performance of future development and commercialization activities . for up to three years following the end of the technology transfer period , gsk can exercise an option , upon payment of certain additional fees , that would extend gsk 's license to include certain improvements to the codeevolver ® protein engineering technology platform that arise during such additional period . in addition , we are eligible to receive royalties based on net sales , if any , of a limited set of products developed by gsk using the codeevolver ® protein engineering technology platform . the up-front license fee of $ 6.0 million is being recognized ratably over the three-year technology transfer period . we recognized license fees of $ 2.0 million and $ 1.0 million , respectively , in 2015 and 2014 , as biocatalyst research and development revenue . as of december 31 , 2015 and 2014 , we had deferred revenue from gsk related to the up-front license fee of $ 3.0 story_separator_special_tag if future financings involve the issuance of equity securities , our existing stockholders would suffer dilution . if we raise debt financing , we may be subject to restrictive covenants that limit our ability to conduct our business . we may not be able to raise sufficient additional funds on terms that are favorable to us , if at all . if we fail to raise sufficient funds and fail to generate sufficient revenue to achieve planned gross margins and to control operating costs , our ability to fund our operations , take advantage of strategic opportunities , develop products or technologies , or otherwise respond to competitive pressures could be significantly limited . if this happens , we may be forced to delay or terminate research or development programs or the commercialization of products resulting from our technologies , curtail or cease operations or obtain funds through collaborative and licensing arrangements that may require us to relinquish commercial rights , or grant licenses on terms that are not favorable to us . if adequate funds are not available , we will not be able to successfully execute our business plan or continue our business . story_separator_special_tag style= `` line-height:120 % ; padding-top:12px ; font-size:10pt ; `` > the following table summarizes our significant contractual obligations at december 31 , 2015 ( in thousands ) : replace_table_token_14_th ( 1 ) represents future minimum lease payments under non-cancelable operating leases in effect as of december 31 , 2015 for our facilities in redwood city , california . the minimum lease payments above do not include common area maintenance charges or real estate taxes . in addition , amounts have not been reduced by future minimum sublease rentals to be received under non-cancellable subleases . ( 2 ) excludes $ 0.7 million of uncertain tax liabilities for which we can not make a reasonably reliable estimate of the period of cash settlement . off-balance sheet arrangements as of december 31 , 2015 , we had no off-balance sheet arrangements as defined in item 303 ( a ) ( 4 ) of regulation s-k as promulgated by the sec . critical accounting policies and estimates management 's discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements . the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the united states and include our accounts and the accounts of our wholly-owned subsidiaries . the preparation of our consolidated financial statements requires our management to make estimates , assumptions , and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements , and the reported amounts of revenues and expenses during the applicable periods . management bases its estimates , assumptions and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances . different assumptions and judgments would change the estimates used in the preparation of our consolidated financial statements , which , in turn , could change the results from those reported . our management evaluates its estimates , assumptions and judgments on an ongoing basis . the critical accounting policies requiring estimates , assumptions , and judgments that we believe have the most significant impact on our consolidated financial statements are described below . revenue recognition we recognize revenue from the sale of our biocatalyst products , biocatalyst research and development agreements and revenue sharing arrangements . revenue is recognized when the related costs are incurred and the four basic criteria of revenue recognition are met : ( 1 ) persuasive evidence of an arrangement exists ; ( 2 ) delivery has occurred or services have been rendered ; ( 3 ) the fee is fixed or determinable ; and ( 4 ) collectability is reasonably assured . where the revenue recognition criteria are not met , we defer the recognition of revenue by recording deferred revenue until such time that all criteria of revenue recognition are met . we account for revenues from multiple element arrangements , such as license and platform technology transfer agreements in which a licensee may purchase several deliverables , in accordance with financial accounting standards board ( “ fasb ” ) 47 accounting standards codification ( “ asc ” ) subtopic 605-25 , “ multiple element arrangements . ” for new or materially amended multiple element arrangements , we identify the deliverables at the inception of the arrangement and each deliverable within a multiple deliverable revenue arrangement is accounted for as a separate unit of accounting if both of the following criteria are met : ( 1 ) the delivered item or items have value to the customer on a standalone basis and ( 2 ) for an arrangement that includes a general right of return relative to the delivered item ( s ) , delivery or performance of the undelivered item ( s ) is considered probable and substantially in our control . revenue allocated to each element is then recognized based on when the basic four revenue recognition criteria are met for each element . where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a collaborative arrangement , they are recorded as deferred revenue and recognized as revenue ratably over the term of our estimated performance period under the agreement . we determine the estimated performance periods , and they are periodically reviewed based on the progress of the related program . the effect of any change made to an estimated performance period and , therefore , to revenue recognized , would occur on a prospective basis in the period that the change was made . biocatalyst product sales biocatalyst product sales consist of sales of biocatalyst intermediates , api and codex ® biocatalyst panels and kits . biocatalyst product sales are recognized once passage of title

