cb-839 inhibits glutaminase , an enzyme required by cancer cells to utilize glutamine effectively . we are currently conducting three phase 1 clinical trials of cb-839 in the united states in patients with solid tumors , leukemias , lymphomas and multiple myeloma . the purpose of these trials is to evaluate the safety of cb-839 both as a single agent and in combination with approved therapies and to seek preliminary evidence of efficacy . pending input from the fda on the results of our phase 1 trials and phase 2 trial protocols , we plan to initiate one or more phase 2 clinical trials of cb-839 in 2016. we currently hold all commercial rights to cb-839 . our second program in tumor metabolism is focused on the hexokinase ii enzyme . a defining characteristic of most cancer cells is their increased uptake of glucose . cancer cells use glucose in a different manner than normal cells , but an obligate first step in all glucose utilizing pathways is phosphorylation of glucose by the enzyme hexokinase . due to their higher glucose needs , cancer cells frequently increase the level of this critical enzyme , specifically the isoform hexokinase ii . we believe inhibitors of hexokinase ii will significantly impede the ability of cancer cells to survive and proliferate and may lead to new approaches in treating cancer . our new program in hexokinase ii inhibitors was in-licensed from transtech pharma and we seek to identify and advance a drug candidate into clinical development as quickly as possible . we will provide additional details on our development plans and timelines in the near future as we undertake pre-clinical studies to profile our portfolio of hexokinase ii inhibitors . the field of tumor immunology seeks to activate the body 's own immune system to attack and kill cancer cells . our preclinical program in tumor immunology is focused on developing selective inhibitors of the enzyme arginase . arginase depletes arginine , a nutrient that is critical for the activation , growth and survival of the body 's cancer-fighting immune cells . we believe that inhibitors of arginase can promote an anti-tumor immune response by restoring arginine levels , thereby allowing activation of the body 's cancer-fighting immune cells . we are currently optimizing arginase inhibitors with the aim of submitting an ind application to the fda in early 2016. since our inception in 2010 , we have devoted substantially all of our resources to identifying and developing cb-839 , advancing our preclinical programs , conducting clinical trials and providing general and administrative support for these operations . we have not recorded revenue from product sales , collaboration activities or any other source . we have funded our operations to date primarily from the issuance and sale of convertible preferred stock and the initial public offering , or ipo , of our common stock that occurred in october 2014. in connection with the ipo , we sold 8,000,000 shares of common stock for proceeds of $ 71.6 million net of underwriting discounts and commissions and offering expenses . we have never been profitable and have incurred net losses in each year since inception . our net losses were $ 21.7 million , $ 12.4 million and $ 8.0 million for 2014 , 2013 and 2012. as of december 31 , 2014 we had an accumulated deficit of $ 51.9 million . substantially all of our net losses have resulted from costs incurred in connection with our research and development programs and from general and administrative costs associated with our operations . 49 we expect to continue to incur significant expenses and increasing operating losses over at least the next several years . we expect our expenses will increase substantially in connection with our ongoing activities , as we : · advance product candidates through clinical trials ; · pursue regulatory approval of product candidates ; · operate as a public company ; · continue our preclinical programs and clinical development efforts ; · continue research activities for the discovery of new product candidates ; and · manufacture supplies for our preclinical studies and clinical trials . critical accounting polices and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our financial statements , which have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap . the preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported expenses incurred during the reporting periods . our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances , the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . we believe that the accounting policies discussed below are critical to understanding our historical and future performance , as these policies relate to the more significant areas involving management 's judgments and estimates . accrued research and development costs we record accrued expenses for estimated costs of our research and development activities conducted by third-party service providers , which include the conduct of preclinical studies and clinical trials and contract manufacturing activities . we record the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced , and include these costs in accrued liabilities in the balance sheet and within research and development expense in the statement of operations and comprehensive loss . story_separator_special_tag research and development research and development expenses increased $ 3.3 million , or 51 % , from $ 6.6 million for 2012 to $ 9.9 million for 2013. the increase was due to an increase of $ 2.1 million in external costs related to cb-839 development activities and manufacturing to support our phase 1 clinical trials , an increase of $ 0.7 million in connection with start-up activities to support our cb-839 phase 1 clinical trials , an increase of $ 0.5 million in personnel-related costs as a result of increased headcount and an increase of $ 0.2 million in professional services costs . these increases were partially offset by a decrease of $ 0.4 million in laboratory supplies costs . general and administrative general and administrative expenses increased $ 1.1 million , or 75 % , from $ 1.4 million for 2012 , to $ 2.5 million for 2013. the increase was due to an increase of $ 0.9 million in professional consulting expenses in connection with our market evaluation of cb-839 , our evaluation of potential partnership opportunities and accounting services . in addition , facility-related costs increased by $ 0.1 million due to our office expansion in the second half of 2013. liquidity and capital resources as of december 31 , 2014 , we had cash and cash equivalents totaling $ 102.0 million . in connection with our ipo that closed in october 2014 , we received cash proceeds of $ 71.6 million , net of underwriters ' discounts and commissions and expenses paid by us . prior to the ipo , our operations have been financed primarily by net proceeds from the sale of shares of our preferred stock . 53 our primary uses of cash are to fund operating expenses , primarily research and development expenditures . cash used to fund operating expenses is impacted by the timing of when we pay these expenses , as reflected in the change in our outstanding accounts payable and accrued expenses . we believe that our existing cash and cash equivalents as of december 31 , 2014 will be sufficient for us to meet our current operating plan for at least the next twelve months . however , 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 . in order to complete the process of obtaining regulatory approval for our product candidates and to build the sales , marketing and distribution infrastructure that we believe will be necessary to commercialize our product candidates , if approved , we will require substantial additional funding . we have based our projections of operating capital requirements on assumptions that may prove to be incorrect and we may use all of our available capital resources sooner than we expect . because of the numerous risks and uncertainties associated with research , development and commercialization of pharmaceutical products , we are unable to estimate the exact amount of our operating capital requirements . our future funding requirements will depend on many factors , including , but not limited to : the timing and costs of our planned clinical trials for our product candidates ; the timing and costs of our planned preclinical studies of our product candidates ; our success in establishing and scaling commercial manufacturing capabilities ; the number and characteristics of product candidates that we pursue ; the outcome , timing and costs of seeking regulatory approvals ; subject to receipt of regulatory approval , revenue received from commercial sales of our product candidates ; the terms and timing of any future collaborations , licensing , consulting or other arrangements that we may establish ; the amount and timing of any payments we may be required to make in connection with the licensing , filing , prosecution , maintenance , defense and enforcement of any patents or patent applications or other intellectual property rights ; and the extent to which we in-license or acquire other products and technologies . we plan to continue to fund our operations and capital funding needs through equity and or debt financing . we may also consider collaborations or selectively partnering for clinical development and commercialization . the sale of additional equity would result in additional dilution to our stockholders . the incurrence of debt financing would result in debt service obligations and the instruments governing such debt could provide for operating and financing covenants that would restrict our operations . if we are not able to secure adequate additional funding we may be forced to make reductions in spending , extend payment terms with suppliers , liquidate assets where possible , and or suspend or curtail planned programs . any of these actions could harm our business , results of operations and future prospects . the following table summarizes our cash flows for the periods indicated : replace_table_token_7_th story_separator_special_tag style= `` margin-top:6pt ; margin-bottom:0pt ; text-indent:4.54 % ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > we are an “ emerging growth company , ” as defined in the jobs act . under the jobs act , emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the jobs act until such time as those standards apply to private companies . we have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards , and , therefore , will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies . 55 recent accounting pronouncements in june 2014 , the financial accounting standards board , or fasb issued asu 2014-10 , development stage entities ( topic 915 ) : elimination of certain financial reporting requirements , including an amendment to

cash flows from operating activities cash used in operating activities for the year ended december 31 , 2014 was $ 19.2 million , consisting of a net loss of $ 21.7 million , which was offset by non-cash charges $ 0.4 million for depreciation and amortization expense and $ 0.7 million for stock-based compensation . the change in our net operating assets and liabilities was primarily due to a $ 1.5 million increase in prepaid expenses and other current assets primarily related to our prepayment of clinical trial activities and directors and officers liability insurance , a $ 2.6 million increase in accounts payable and accrued liabilities related to an increase in our research and development activities , and a $ 0.4 million increase in deferred rent . cash used in operating activities for 2013 was $ 11.8 million , consisting of a net loss of $ 12.4 million , which was offset in part by non-cash charges of $ 0.3 million for depreciation and amortization expense and $ 70,000 for stock-based compensation . the change 54 in our net operating assets and liabilities was due to a $ 0.4 million increase in our accounts payable and accrued liabilities related to an increase in our research and development activities and an increase of $ 0.3 million in prepaid expenses and other current assets related to our prepayment for clinical trial activities .


 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 from operating activities cash used in operating activities for the year ended december 31 , 2014 was $ 19.2 million , consisting of a net loss of $ 21.7 million , which was offset by non-cash charges $ 0.4 million for depreciation and amortization expense and $ 0.7 million for stock-based compensation . the change in our net operating assets and liabilities was primarily due to a $ 1.5 million increase in prepaid expenses and other current assets primarily related to our prepayment of clinical trial activities and directors and officers liability insurance , a $ 2.6 million increase in accounts payable and accrued liabilities related to an increase in our research and development activities , and a $ 0.4 million increase in deferred rent . cash used in operating activities for 2013 was $ 11.8 million , consisting of a net loss of $ 12.4 million , which was offset in part by non-cash charges of $ 0.3 million for depreciation and amortization expense and $ 70,000 for stock-based compensation . the change 54 in our net operating assets and liabilities was due to a $ 0.4 million increase in our accounts payable and accrued liabilities related to an increase in our research and development activities and an increase of $ 0.3 million in prepaid expenses and other current assets related to our prepayment for clinical trial activities .
```    
 Suspicious Activity Report : cb-839 inhibits glutaminase , an enzyme required by cancer cells to utilize glutamine effectively . we are currently conducting three phase 1 clinical trials of cb-839 in the united states in patients with solid tumors , leukemias , lymphomas and multiple myeloma . the purpose of these trials is to evaluate the safety of cb-839 both as a single agent and in combination with approved therapies and to seek preliminary evidence of efficacy . pending input from the fda on the results of our phase 1 trials and phase 2 trial protocols , we plan to initiate one or more phase 2 clinical trials of cb-839 in 2016. we currently hold all commercial rights to cb-839 . our second program in tumor metabolism is focused on the hexokinase ii enzyme . a defining characteristic of most cancer cells is their increased uptake of glucose . cancer cells use glucose in a different manner than normal cells , but an obligate first step in all glucose utilizing pathways is phosphorylation of glucose by the enzyme hexokinase . due to their higher glucose needs , cancer cells frequently increase the level of this critical enzyme , specifically the isoform hexokinase ii . we believe inhibitors of hexokinase ii will significantly impede the ability of cancer cells to survive and proliferate and may lead to new approaches in treating cancer . our new program in hexokinase ii inhibitors was in-licensed from transtech pharma and we seek to identify and advance a drug candidate into clinical development as quickly as possible . we will provide additional details on our development plans and timelines in the near future as we undertake pre-clinical studies to profile our portfolio of hexokinase ii inhibitors . the field of tumor immunology seeks to activate the body 's own immune system to attack and kill cancer cells . our preclinical program in tumor immunology is focused on developing selective inhibitors of the enzyme arginase . arginase depletes arginine , a nutrient that is critical for the activation , growth and survival of the body 's cancer-fighting immune cells . we believe that inhibitors of arginase can promote an anti-tumor immune response by restoring arginine levels , thereby allowing activation of the body 's cancer-fighting immune cells . we are currently optimizing arginase inhibitors with the aim of submitting an ind application to the fda in early 2016. since our inception in 2010 , we have devoted substantially all of our resources to identifying and developing cb-839 , advancing our preclinical programs , conducting clinical trials and providing general and administrative support for these operations . we have not recorded revenue from product sales , collaboration activities or any other source . we have funded our operations to date primarily from the issuance and sale of convertible preferred stock and the initial public offering , or ipo , of our common stock that occurred in october 2014. in connection with the ipo , we sold 8,000,000 shares of common stock for proceeds of $ 71.6 million net of underwriting discounts and commissions and offering expenses . we have never been profitable and have incurred net losses in each year since inception . our net losses were $ 21.7 million , $ 12.4 million and $ 8.0 million for 2014 , 2013 and 2012. as of december 31 , 2014 we had an accumulated deficit of $ 51.9 million . substantially all of our net losses have resulted from costs incurred in connection with our research and development programs and from general and administrative costs associated with our operations . 49 we expect to continue to incur significant expenses and increasing operating losses over at least the next several years . we expect our expenses will increase substantially in connection with our ongoing activities , as we : · advance product candidates through clinical trials ; · pursue regulatory approval of product candidates ; · operate as a public company ; · continue our preclinical programs and clinical development efforts ; · continue research activities for the discovery of new product candidates ; and · manufacture supplies for our preclinical studies and clinical trials . critical accounting polices and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our financial statements , which have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap . the preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements , as well as the reported expenses incurred during the reporting periods . our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances , the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources . actual results may differ from these estimates under different assumptions or conditions . we believe that the accounting policies discussed below are critical to understanding our historical and future performance , as these policies relate to the more significant areas involving management 's judgments and estimates . accrued research and development costs we record accrued expenses for estimated costs of our research and development activities conducted by third-party service providers , which include the conduct of preclinical studies and clinical trials and contract manufacturing activities . we record the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced , and include these costs in accrued liabilities in the balance sheet and within research and development expense in the statement of operations and comprehensive loss . story_separator_special_tag research and development research and development expenses increased $ 3.3 million , or 51 % , from $ 6.6 million for 2012 to $ 9.9 million for 2013. the increase was due to an increase of $ 2.1 million in external costs related to cb-839 development activities and manufacturing to support our phase 1 clinical trials , an increase of $ 0.7 million in connection with start-up activities to support our cb-839 phase 1 clinical trials , an increase of $ 0.5 million in personnel-related costs as a result of increased headcount and an increase of $ 0.2 million in professional services costs . these increases were partially offset by a decrease of $ 0.4 million in laboratory supplies costs . general and administrative general and administrative expenses increased $ 1.1 million , or 75 % , from $ 1.4 million for 2012 , to $ 2.5 million for 2013. the increase was due to an increase of $ 0.9 million in professional consulting expenses in connection with our market evaluation of cb-839 , our evaluation of potential partnership opportunities and accounting services . in addition , facility-related costs increased by $ 0.1 million due to our office expansion in the second half of 2013. liquidity and capital resources as of december 31 , 2014 , we had cash and cash equivalents totaling $ 102.0 million . in connection with our ipo that closed in october 2014 , we received cash proceeds of $ 71.6 million , net of underwriters ' discounts and commissions and expenses paid by us . prior to the ipo , our operations have been financed primarily by net proceeds from the sale of shares of our preferred stock . 53 our primary uses of cash are to fund operating expenses , primarily research and development expenditures . cash used to fund operating expenses is impacted by the timing of when we pay these expenses , as reflected in the change in our outstanding accounts payable and accrued expenses . we believe that our existing cash and cash equivalents as of december 31 , 2014 will be sufficient for us to meet our current operating plan for at least the next twelve months . however , 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 . in order to complete the process of obtaining regulatory approval for our product candidates and to build the sales , marketing and distribution infrastructure that we believe will be necessary to commercialize our product candidates , if approved , we will require substantial additional funding . we have based our projections of operating capital requirements on assumptions that may prove to be incorrect and we may use all of our available capital resources sooner than we expect . because of the numerous risks and uncertainties associated with research , development and commercialization of pharmaceutical products , we are unable to estimate the exact amount of our operating capital requirements . our future funding requirements will depend on many factors , including , but not limited to : the timing and costs of our planned clinical trials for our product candidates ; the timing and costs of our planned preclinical studies of our product candidates ; our success in establishing and scaling commercial manufacturing capabilities ; the number and characteristics of product candidates that we pursue ; the outcome , timing and costs of seeking regulatory approvals ; subject to receipt of regulatory approval , revenue received from commercial sales of our product candidates ; the terms and timing of any future collaborations , licensing , consulting or other arrangements that we may establish ; the amount and timing of any payments we may be required to make in connection with the licensing , filing , prosecution , maintenance , defense and enforcement of any patents or patent applications or other intellectual property rights ; and the extent to which we in-license or acquire other products and technologies . we plan to continue to fund our operations and capital funding needs through equity and or debt financing . we may also consider collaborations or selectively partnering for clinical development and commercialization . the sale of additional equity would result in additional dilution to our stockholders . the incurrence of debt financing would result in debt service obligations and the instruments governing such debt could provide for operating and financing covenants that would restrict our operations . if we are not able to secure adequate additional funding we may be forced to make reductions in spending , extend payment terms with suppliers , liquidate assets where possible , and or suspend or curtail planned programs . any of these actions could harm our business , results of operations and future prospects . the following table summarizes our cash flows for the periods indicated : replace_table_token_7_th story_separator_special_tag style= `` margin-top:6pt ; margin-bottom:0pt ; text-indent:4.54 % ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > we are an “ emerging growth company , ” as defined in the jobs act . under the jobs act , emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the jobs act until such time as those standards apply to private companies . we have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards , and , therefore , will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies . 55 recent accounting pronouncements in june 2014 , the financial accounting standards board , or fasb issued asu 2014-10 , development stage entities ( topic 915 ) : elimination of certain financial reporting requirements , including an amendment to

