the fda awards breakthrough therapy designations to expedite the development and review of investigational drugs that are intended to treat serious or life-threatening conditions when preliminary clinical evidence indicates that the treatment may offer a substantial improvement over currently available therapies on one or more clinically significant endpoints . in march 2018 , we completed the enrollment of 603 treated patients in the patency-2 trial at 39 centers in the u.s. and canada . we expect to report top-line data from the patency-2 trial in march 2019. if the patency-2 trial is successful , we further expect to submit a bla in 2019. we commenced business operations in june 2001 and incorporated in march 2006. our operations to date have been limited to organizing and staffing our company , business planning , raising capital , undertaking preclinical studies and clinical trials of vonapanitase , protecting our intellectual property and providing general and administrative support for these operations . to date , we have not generated any product revenue and have primarily financed our operations through the private placement of our equity securities , business development activities , convertible note financings , and our initial public offering , or ipo , completed in october 2014 . 75 as of december 31 , 2017 , we had received an aggregate of $ 197.2 million in net proceeds comprised of $ 115.5 million from the issuance of private equity securities , $ 7.7 million from the issuance of convertible notes , $ 10.0 million from business development activities , $ 0.2 million from government grants , $ 62.5 million from our ipo and $ 1.3 million from the sale of common stock under our at-the-market , or atm , program with cowen and company , llc . we have never been profitable and have incurred net losses in each year since inception . as of december 31 , 2017 , we had an accumulated deficit of $ 189.7 million and our net loss for the year ended december 31 , 2017 was $ 30.0 million . we expect to incur significant expenses and increasing operating losses for the foreseeable future . we expect our research and development expenses to increase as we continue the clinical trials of , and seek regulatory approval for , vonapanitase . if we obtain regulatory approval for vonapanitase , we expect to incur significant commercialization expenses related to product sales , marketing , manufacturing and distribution . furthermore , we expect that our general and administrative costs will increase as we grow and operate as a public company . as a result , we will need to generate significant revenue if we are to achieve profitability , and we may never be able to do so . we believe that our cash and cash equivalents and available-for-sale investments at december 31 , 2017 will be sufficient to fund our operating expenses and capital expenditure requirements into the fourth quarter of 2019. we believe that these funds will be sufficient to enable us to report top line data from the patency-2 trial , our second phase 3 trial of vonapanitase in radiocephalic fistulas , and to fund our ongoing development and chemistry , manufacturing and controls , or cmc , activities . we do not expect to generate revenue from product sales unless and until we successfully complete development and obtain regulatory approval for vonapanitase , which we expect will take a number of years and is subject to significant uncertainty . we have no manufacturing facilities and all of our manufacturing activities are contracted out to third parties . additionally , we currently use third-party clinical research organizations , or cros , to carry out our clinical development activities and we do not yet have a sales organization . if we obtain regulatory approval for vonapanitase , we expect to incur significant commercialization expenses related to product sales , marketing , manufacturing and distribution . accordingly , we may seek to further fund our operations through public or private equity or debt financings or other sources , including strategic collaborations . we may , however , be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . our failure to raise additional capital or enter into such other arrangements as and when needed would have a negative impact on our financial condition and our ability to develop vonapanitase or any additional product candidates , if developed . recent developments on june 22 , 2017 , we entered into a securities purchase agreement ( the “ purchase agreement ” ) with a syndicate of current and new institutional investors ( collectively , the “ investors ” ) , led by an affiliate of deerfield management company , l.p. , pursuant to which the company agreed to issue and sell to the investors an aggregate of 22,000 shares ( the “ preferred shares ” ) of the company 's series a convertible preferred stock , par value $ 0.001 per share ( the “ transaction ” ) , for a purchase price of $ 1,000 per share , or an aggregate purchase price of $ 22.0 million , all upon the terms and conditions set forth in the purchase agreement . we also entered into certain voting agreements and the fifth amended and restated investors ' rights agreement in connection on june 22 , 2017. we closed the transaction on august 2 , 2017. the rights , preferences and privileges of the series a preferred stock are set forth in a certificate of designation of preferences , rights and limitations of series a convertible preferred stock that we filed on august 1 , 2017 , with the secretary of state of the state of delaware . story_separator_special_tag during the year ended december 31 , 2017 , other expense , increased by $ 0.2 million as compared to the year ended december 31 , 2016 primarily due to foreign currency remeasurement gain for cash denominated in swiss francs and the change in the fair value associated with the forward foreign currency contracts we entered into in the second quarter of 2015. as of december 31 , 2016 , all forward foreign currency contracts had been settled and are no longer outstanding . comparison of the years ended december 31 , 2016 and 2015 the following table summarizes our results of operations for the years ended december 31 , 2016 and 2015 ( in thousands ) : 80 replace_table_token_9_th research and development expenses . the following table identifies research and development expenses on both an external and internal basis for the years ended december 31 , 2016 and 2015 ( in thousands ) : replace_table_token_10_th during the year ended december 31 , 2016 , our total research and development expenses increased by $ 6.5 million compared to the year ended december 31 , 2015 primarily due to $ 5.1 million in increased external expenses . the increase of $ 5.1 million in external expenses was primarily driven by $ 3.9 million in increased expenses for our manufacturing pre-validation and $ 1.2 million in increased expenses for our ongoing clinical trials . our internal research and development expenses increased by $ 1.4 million in the year ended december 31 , 2016 as compared to the year ended december 31 , 2015 due primarily to increased personnel costs . marketing , general and administrative expenses . during the year ended december 31 , 2016 , our total marketing , general and administrative expenses were $ 1.3 million higher as compared to the year ended december 31 , 2015 primarily due to additional overhead and personnel costs in the year ended december 31 , 2016 of $ 1.6 million to support our ongoing corporate activities and offset by $ 0.3 million in lower expenses associated with being a public company . investment income . during the year ended december 31 , 2016 , investment income increased by an immaterial amount . other expense , net . during the year ended december 31 , 2016 , other expense , net changed by $ 0.6 million as compared to the year ended december 31 , 2015 due to the change in the fair value associated with the forward foreign currency contracts we entered into in the second quarter of 2015 and the swiss francs denominated currency we held as of the period end . liquidity and capital resources overview since our inception and through the year ended december 31 , 2017 , we had received $ 197.2 million in net proceeds comprised of $ 115.5 million from the issuance of private equity securities , $ 7.7 million from the issuance of convertible notes , $ 10.0 million from business development activities , $ 0.2 million from government grants , $ 62.5 million from our ipo and $ 1.3 million from the sale of common stock under our at-the-market , or atm , program with cowen and company , llc . at december 31 , 2017 , our cash and cash equivalents and available-for-sale investments totaled $ 42.1 million . 81 series a preferred financing on august 2 , 2017 we received net proceeds of approximately $ 21.5 million from the issuance of series a convertible preferred stock to new and existing investors at a price per share of $ 1,000. in aggregate , we issued 22,000 shares of series a convertible preferred stock , each share of which is convertible into approximately 1,005 shares of our common stock at a conversion price of $ 0.9949 per share . operating capital requirements we expect to incur increasing operating losses for at least the next several years as we ( i ) conduct our clinical trials for vonapanitase , thereafter seeking marketing approval for vonapanitase assuming successful trial outcomes , and ( ii ) pursue development of vonapanitase for additional indications , including brachiocephalic arteriovenous fistulas and grafts . we may not be able to complete the development and initiate commercialization of vonapanitase if , among other things , our clinical trials are not successful , and the fda does not approve vonapanitase or does not approve vonapanitase when we expect . we believe that our cash and cash equivalents and available-for-sale investments as of december 31 , 2017 will be sufficient to fund our operations into the fourth quarter of 2019. we believe that these funds will be sufficient to enable us to report top line data from our second phase 3 trial of vonapanitase in radiocephalic fistulas , named patency-2 and to fund our ongoing development and cmc activities through this date . our forecast of the period of time through which our financial resources will be adequate to support our operations is a forward-looking statement and involves risks and uncertainties , and actual results could vary as a result of a number of factors . we have based this estimate on assumptions that may prove to be wrong and we could exhaust our available capital resources sooner than we currently expect . our future funding requirements , both near and long-term , will depend on many factors , including : the timing and costs of our phase 3 clinical trial of vonapanitase in radiocephalic fistulas ; the timing and costs of developing vonapanitase for additional indications , including pad ; the outcome , timing and costs of seeking regulatory approvals ; the costs of commercialization activities for vonapanitase in radiocephalic fistulas and other indications if we receive marketing approval , including the costs and timing of establishing product sales , marketing , distribution and manufacturing capabilities ; subject to receipt of marketing approval , revenue received from commercial sales of vonapanitase ; the terms and timing of any future collaborations , licensing ,

cash flows the following table summarizes our sources and uses of cash for the years ended december 31 , 2017 and 2016 ( in thousands ) : replace_table_token_11_th 82 comparison of the years ended december 31 , 2017 and 2016 net cash used in operating activities was $ 22.4 million for the year ended december 31 , 2017 compared to $ 23.7 million for the year ended december 31 , 2016. the decrease of $ 1.3 million in cash used in operating activities was primarily driven by a $ 2.7 million decrease in cash inflows related to changes in the components of working capital offset by an increase in our net loss of $ 1.4 million , as compared to the year ended december 31 , 2016. net cash used in investing activities was $ 16.1 million for the year ended december 31 , 2017 compared to $ 19.9 million provided in the year ended december 31 , 2016. the change of $ 36.0 million in cash used in investing activities was primarily driven by a decrease in cash inflows of $ 43.0 million due to decreased proceeds from maturities and sale of investments offset by a decrease in cash outflows of $ 6.8 million due to decreased purchases of available-for-sale investments and a decrease in cash outflows of $ 0.2 million due to decreased capital equipment purchases as compared to the year ended december 31 , 2016. net cash provided by financing activities for the year ended december 31 , 2017 increased by $ 22.8 million compared to the year ended december 31 , 2016 due to net proceeds of $ 21.5 million from our preferred equity financing in august 2017 and$ 1.3 million from the sale of common stock under our atm program .


 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 summarizes our sources and uses of cash for the years ended december 31 , 2017 and 2016 ( in thousands ) : replace_table_token_11_th 82 comparison of the years ended december 31 , 2017 and 2016 net cash used in operating activities was $ 22.4 million for the year ended december 31 , 2017 compared to $ 23.7 million for the year ended december 31 , 2016. the decrease of $ 1.3 million in cash used in operating activities was primarily driven by a $ 2.7 million decrease in cash inflows related to changes in the components of working capital offset by an increase in our net loss of $ 1.4 million , as compared to the year ended december 31 , 2016. net cash used in investing activities was $ 16.1 million for the year ended december 31 , 2017 compared to $ 19.9 million provided in the year ended december 31 , 2016. the change of $ 36.0 million in cash used in investing activities was primarily driven by a decrease in cash inflows of $ 43.0 million due to decreased proceeds from maturities and sale of investments offset by a decrease in cash outflows of $ 6.8 million due to decreased purchases of available-for-sale investments and a decrease in cash outflows of $ 0.2 million due to decreased capital equipment purchases as compared to the year ended december 31 , 2016. net cash provided by financing activities for the year ended december 31 , 2017 increased by $ 22.8 million compared to the year ended december 31 , 2016 due to net proceeds of $ 21.5 million from our preferred equity financing in august 2017 and$ 1.3 million from the sale of common stock under our atm program .
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 Suspicious Activity Report : the fda awards breakthrough therapy designations to expedite the development and review of investigational drugs that are intended to treat serious or life-threatening conditions when preliminary clinical evidence indicates that the treatment may offer a substantial improvement over currently available therapies on one or more clinically significant endpoints . in march 2018 , we completed the enrollment of 603 treated patients in the patency-2 trial at 39 centers in the u.s. and canada . we expect to report top-line data from the patency-2 trial in march 2019. if the patency-2 trial is successful , we further expect to submit a bla in 2019. we commenced business operations in june 2001 and incorporated in march 2006. our operations to date have been limited to organizing and staffing our company , business planning , raising capital , undertaking preclinical studies and clinical trials of vonapanitase , protecting our intellectual property and providing general and administrative support for these operations . to date , we have not generated any product revenue and have primarily financed our operations through the private placement of our equity securities , business development activities , convertible note financings , and our initial public offering , or ipo , completed in october 2014 . 75 as of december 31 , 2017 , we had received an aggregate of $ 197.2 million in net proceeds comprised of $ 115.5 million from the issuance of private equity securities , $ 7.7 million from the issuance of convertible notes , $ 10.0 million from business development activities , $ 0.2 million from government grants , $ 62.5 million from our ipo and $ 1.3 million from the sale of common stock under our at-the-market , or atm , program with cowen and company , llc . we have never been profitable and have incurred net losses in each year since inception . as of december 31 , 2017 , we had an accumulated deficit of $ 189.7 million and our net loss for the year ended december 31 , 2017 was $ 30.0 million . we expect to incur significant expenses and increasing operating losses for the foreseeable future . we expect our research and development expenses to increase as we continue the clinical trials of , and seek regulatory approval for , vonapanitase . if we obtain regulatory approval for vonapanitase , we expect to incur significant commercialization expenses related to product sales , marketing , manufacturing and distribution . furthermore , we expect that our general and administrative costs will increase as we grow and operate as a public company . as a result , we will need to generate significant revenue if we are to achieve profitability , and we may never be able to do so . we believe that our cash and cash equivalents and available-for-sale investments at december 31 , 2017 will be sufficient to fund our operating expenses and capital expenditure requirements into the fourth quarter of 2019. we believe that these funds will be sufficient to enable us to report top line data from the patency-2 trial , our second phase 3 trial of vonapanitase in radiocephalic fistulas , and to fund our ongoing development and chemistry , manufacturing and controls , or cmc , activities . we do not expect to generate revenue from product sales unless and until we successfully complete development and obtain regulatory approval for vonapanitase , which we expect will take a number of years and is subject to significant uncertainty . we have no manufacturing facilities and all of our manufacturing activities are contracted out to third parties . additionally , we currently use third-party clinical research organizations , or cros , to carry out our clinical development activities and we do not yet have a sales organization . if we obtain regulatory approval for vonapanitase , we expect to incur significant commercialization expenses related to product sales , marketing , manufacturing and distribution . accordingly , we may seek to further fund our operations through public or private equity or debt financings or other sources , including strategic collaborations . we may , however , be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . our failure to raise additional capital or enter into such other arrangements as and when needed would have a negative impact on our financial condition and our ability to develop vonapanitase or any additional product candidates , if developed . recent developments on june 22 , 2017 , we entered into a securities purchase agreement ( the “ purchase agreement ” ) with a syndicate of current and new institutional investors ( collectively , the “ investors ” ) , led by an affiliate of deerfield management company , l.p. , pursuant to which the company agreed to issue and sell to the investors an aggregate of 22,000 shares ( the “ preferred shares ” ) of the company 's series a convertible preferred stock , par value $ 0.001 per share ( the “ transaction ” ) , for a purchase price of $ 1,000 per share , or an aggregate purchase price of $ 22.0 million , all upon the terms and conditions set forth in the purchase agreement . we also entered into certain voting agreements and the fifth amended and restated investors ' rights agreement in connection on june 22 , 2017. we closed the transaction on august 2 , 2017. the rights , preferences and privileges of the series a preferred stock are set forth in a certificate of designation of preferences , rights and limitations of series a convertible preferred stock that we filed on august 1 , 2017 , with the secretary of state of the state of delaware . story_separator_special_tag during the year ended december 31 , 2017 , other expense , increased by $ 0.2 million as compared to the year ended december 31 , 2016 primarily due to foreign currency remeasurement gain for cash denominated in swiss francs and the change in the fair value associated with the forward foreign currency contracts we entered into in the second quarter of 2015. as of december 31 , 2016 , all forward foreign currency contracts had been settled and are no longer outstanding . comparison of the years ended december 31 , 2016 and 2015 the following table summarizes our results of operations for the years ended december 31 , 2016 and 2015 ( in thousands ) : 80 replace_table_token_9_th research and development expenses . the following table identifies research and development expenses on both an external and internal basis for the years ended december 31 , 2016 and 2015 ( in thousands ) : replace_table_token_10_th during the year ended december 31 , 2016 , our total research and development expenses increased by $ 6.5 million compared to the year ended december 31 , 2015 primarily due to $ 5.1 million in increased external expenses . the increase of $ 5.1 million in external expenses was primarily driven by $ 3.9 million in increased expenses for our manufacturing pre-validation and $ 1.2 million in increased expenses for our ongoing clinical trials . our internal research and development expenses increased by $ 1.4 million in the year ended december 31 , 2016 as compared to the year ended december 31 , 2015 due primarily to increased personnel costs . marketing , general and administrative expenses . during the year ended december 31 , 2016 , our total marketing , general and administrative expenses were $ 1.3 million higher as compared to the year ended december 31 , 2015 primarily due to additional overhead and personnel costs in the year ended december 31 , 2016 of $ 1.6 million to support our ongoing corporate activities and offset by $ 0.3 million in lower expenses associated with being a public company . investment income . during the year ended december 31 , 2016 , investment income increased by an immaterial amount . other expense , net . during the year ended december 31 , 2016 , other expense , net changed by $ 0.6 million as compared to the year ended december 31 , 2015 due to the change in the fair value associated with the forward foreign currency contracts we entered into in the second quarter of 2015 and the swiss francs denominated currency we held as of the period end . liquidity and capital resources overview since our inception and through the year ended december 31 , 2017 , we had received $ 197.2 million in net proceeds comprised of $ 115.5 million from the issuance of private equity securities , $ 7.7 million from the issuance of convertible notes , $ 10.0 million from business development activities , $ 0.2 million from government grants , $ 62.5 million from our ipo and $ 1.3 million from the sale of common stock under our at-the-market , or atm , program with cowen and company , llc . at december 31 , 2017 , our cash and cash equivalents and available-for-sale investments totaled $ 42.1 million . 81 series a preferred financing on august 2 , 2017 we received net proceeds of approximately $ 21.5 million from the issuance of series a convertible preferred stock to new and existing investors at a price per share of $ 1,000. in aggregate , we issued 22,000 shares of series a convertible preferred stock , each share of which is convertible into approximately 1,005 shares of our common stock at a conversion price of $ 0.9949 per share . operating capital requirements we expect to incur increasing operating losses for at least the next several years as we ( i ) conduct our clinical trials for vonapanitase , thereafter seeking marketing approval for vonapanitase assuming successful trial outcomes , and ( ii ) pursue development of vonapanitase for additional indications , including brachiocephalic arteriovenous fistulas and grafts . we may not be able to complete the development and initiate commercialization of vonapanitase if , among other things , our clinical trials are not successful , and the fda does not approve vonapanitase or does not approve vonapanitase when we expect . we believe that our cash and cash equivalents and available-for-sale investments as of december 31 , 2017 will be sufficient to fund our operations into the fourth quarter of 2019. we believe that these funds will be sufficient to enable us to report top line data from our second phase 3 trial of vonapanitase in radiocephalic fistulas , named patency-2 and to fund our ongoing development and cmc activities through this date . our forecast of the period of time through which our financial resources will be adequate to support our operations is a forward-looking statement and involves risks and uncertainties , and actual results could vary as a result of a number of factors . we have based this estimate on assumptions that may prove to be wrong and we could exhaust our available capital resources sooner than we currently expect . our future funding requirements , both near and long-term , will depend on many factors , including : the timing and costs of our phase 3 clinical trial of vonapanitase in radiocephalic fistulas ; the timing and costs of developing vonapanitase for additional indications , including pad ; the outcome , timing and costs of seeking regulatory approvals ; the costs of commercialization activities for vonapanitase in radiocephalic fistulas and other indications if we receive marketing approval , including the costs and timing of establishing product sales , marketing , distribution and manufacturing capabilities ; subject to receipt of marketing approval , revenue received from commercial sales of vonapanitase ; the terms and timing of any future collaborations , licensing ,

