we expect that our ability to continue to grow our adcetris sales , if at all , will depend primarily on our ability to establish or demonstrate to the medical community the value of adcetris and its potential advantages compared to existing and future therapeutics in its approved indications , including in the frontline hodgkin lymphoma and ptcl indications , and the extent to which physicians make prescribing decisions with respect to adcetris . other important factors affecting adcetris sales include the extent to which takeda obtains further regulatory approvals of adcetris in its territories , the incidence flow of patients eligible for treatment in adcetris ' approved indications , the extent to which coverage and adequate levels of reimbursement for adcetris are available from governments and other third-party payors , the impact of any healthcare reform measures that may be adopted in the future , including measures that could potentially result in more rigorous coverage criteria and additional downward pressure on the price that we receive for adcetris , increasing competition from competing therapies and the potential future approval of adcetris in any additional indications . in addition , as a result of these and other factors , our future adcetris product sales can be difficult to accurately predict from period to period . our ability to realize the anticipated benefits from our investment in padcev is subject to a number of risks and uncertainties , including our and astellas ' ability to successfully jointly launch , market and commercialize padcev in the u.s. in its approved indication , the extent to which we and astellas are able to obtain regulatory approvals of padcev in additional indications , including in the frontline metastatic urothelial cancer setting , and in territories outside the u.s. , our ability and astellas ' ability to successfully comply with rigorous post-marketing requirements , including the successful completion of the required confirmatory post-marketing study that we and astellas are subject to as a result of an accelerated approval by the fda , the acceptance of padcev by the medical community and patients , the extent to which physicians make prescribing decisions with respect to padcev , the incidence flow of patients eligible for treatment in padcev 's approved indication , the duration of therapy for patients receiving padcev , the extent to which coverage and adequate levels of reimbursement for padcev are available from governments and other third-party payors , the impact of any healthcare reform measures that may be adopted in the future , including measures that could potentially result in more rigorous coverage criteria and additional downward pressure on the price that we receive for padcev and potential competition from competing therapies . in addition , due to the lack of any historical sales data and these factors , padcev sales are currently difficult to predict from period to period . with respect to tucatinib , although we submitted an nda to the fda in december 2019 and submitted applications for regulatory approval in jurisdictions outside the u.s. , we can not predict whether our nda or applications will be accepted for filing or approved by the regulatory authorities in a timely manner or at all . even if approved for commercial sale , our ability to realize the anticipated benefits of our investment in tucatinib is subject to a number of risks and uncertainties , including our ability to successfully launch , market and commercialize any approved tucatinib indication , the acceptance of any approved tucatinib indication by the medical community and patients , competition from other therapies , and the extent to which coverage and reimbursement will be available from governments and other third-party payors . in addition , we have no prior experience as an organization launching or commercializing a product in markets outside the u.s. and canada , which could adversely affect our ability to maximize the commercial potential of any approved tucatinib indication . our ability to successfully launch and commercialize tucatinib in new markets will face additional risks and uncertainties , including our ability to build new commercial infrastructure and navigate unique country-by-country pricing and reimbursement requirements . the launch of tucatinib in new countries could be delayed due to a variety of factors , including supply constraints , delays in arranging a commercial infrastructure or delays in negotiating pricing and obtaining required reimbursement approvals . if we experience delays or unforeseen difficulties due to any of these factors , planned launches in the countries in question would be delayed , which could negatively impact anticipated revenue from tucatinib . in addition , if we are unable to obtain favorable pricing and reimbursement approvals in the countries that represent significant potential markets , our anticipated revenue from and growth prospects for tucatinib in europe and other regions could be negatively affected . the biopharmaceutical industry and the markets in which we operate are intensely competitive . many of our competitors are working to develop or have commercialized products similar to those we market or are developing . drug 76 prices are under significant scrutiny and we expect drug pricing and other health care costs to continue to be subject to intense political and societal pressures on a global basis . in addition to pricing actions and other measures being taken worldwide designed to reduce healthcare costs and limit the overall level of government expenditures , our sales and operations could also be affected by other risks of doing business internationally . we expect that amounts earned from our collaboration agreements , including royalties , will continue to be an important source of our revenues and cash flows . these revenues will be impacted by future development funding and the achievement of development , clinical and commercial success by our collaborators under our existing collaboration and license agreements , including our adcetris collaboration with takeda and our padcev collaboration with astellas , as well as by entering into potential new collaboration and license agreements . story_separator_special_tag sales royalties are based on a percentage of takeda 's net sales of adcetris , with rates that range from the mid-teens to the mid-twenties based on annual net sales tiers . takeda bears a portion of third-party royalty costs owed on its sales of adcetris . this amount is included in royalty revenues . cost of royalty revenues reflects amounts owed to our third-party licensors related to takeda 's sales of adcetris . these amounts are recognized in the period in which the related sales by takeda occur and are based on estimates if actual information is not yet available . since we do not take a substantive role or control the commercial sales of adcetris by takeda , estimating their net sales of adcetris may require significant judgment to the extent actual information is not yet available . business combinations , including acquired in-process research and development and goodwill . we account for business combinations using the acquisition method , recording the acquisition-date fair value of total consideration over the acquisition-date fair value of net assets acquired as goodwill . fair value is typically estimated using an income approach based on the present value of future discounted cash flows . the significant estimates in the discounted cash flow model primarily include the discount rate , rates of future revenue growth and or profitability of the acquired business . the discount rate considers the relevant risk associated with 80 business-specific characteristics and the uncertainty related to the ability to achieve the projected cash flows . specific to in-process research and development , significant estimates primarily include the number of potential patients and the market prices of future commercial products , costs required to conduct clinical trials and commercialize future products , and estimates for the probability of success and discount rate . these estimates and the resulting valuations require significant judgment . accrued liabilities . as part of the process of preparing financial statements , we estimate accrued liabilities . this process involves identifying services that have been performed on our behalf and estimating the level of services performed and the associated costs incurred for such services where we have not yet been invoiced or otherwise notified of actual cost . we record these estimates in our consolidated financial statements as of each balance sheet date . examples of estimated accrued liabilities include amounts due to contract research organizations and other costs in conjunction with clinical trials , amounts due in conjunction with manufacturing our product candidates , third-party royalties that accrue on our sales of adcetris and professional service fees , among other items . in accruing service fees , we estimate the time period over which services will be provided and the level of effort in each period . if the actual timing of the provision of services or the level of effort varies from the estimate , we will adjust the accrual accordingly . in the event that we do not identify costs that have been incurred or we under or overestimate the level of services performed or the costs of such services , our actual liabilities would differ from such estimates . the date on which some services commence , the level of services performed on or before a given date and the cost of such services are often subjective determinations . we make judgments based upon the facts and circumstances known to us at the time and in accordance with gaap . long-term incentive plans . we have long term incentive plans which provide eligible employees with the opportunity to receive performance-based incentive compensation , which may be comprised of cash , stock options , and or restricted stock units . the payment of cash and the grant or vesting of equity awards are contingent upon the achievement of pre-determined regulatory milestones . we record compensation expense over the estimated service period for each milestone when we believe the milestone is considered probable , which we assess at each reporting date . once a milestone is considered probable , we record compensation expense based on the portion of the service period elapsed to date with respect to that milestone , with a cumulative catch-up , net of estimated forfeitures , and recognize any remaining compensation expense , if any , over the remaining estimated service period . income taxes . we have net deferred tax assets which are fully offset by a valuation allowance due to our determination that it is more likely than not that the deferred tax assets will not be realized . with the exception of deferred tax assets that were applied to offset the tax liability on goodwill resulting from the cascadian acquisition , we believe that a valuation allowance is appropriate as we have a history of net operating losses . in the event we were to determine that we would be able to realize our net deferred tax assets in the future , an adjustment to the valuation allowance would be made , a portion of which would increase income ( or decrease losses ) in the period in which such a determination was made . we follow the guidance related to accounting for uncertainty in income taxes , which requires the recognition of an uncertain tax position when it is more likely than not to be sustainable upon audit by the applicable taxing authority . results of operations - years ended december 31 , 2019 , 2018 , and 2017 net product sales we sell adcetris in the u.s. and canada , and sell padcev in the u.s. percentage change ( dollars in thousands ) 2019 2018 2017 2019/2018 2018/2017 adcetris $ 627,733 $ 476,903 $ 307,562 32 % 55 % padcev 244 — — n/a n/a net product sales $ 627,977 $ 476,903 $ 307,562 32 % 55 % n/a : no amount in comparable period or not a meaningful comparison . 81 net product sales increase s in 2019 and 2018 as compared to prior

liquidity and capital resources replace_table_token_10_th 87 replace_table_token_11_th the change in net cash from operating activities from 2019 as compared to 2018 primarily was related to the change in our net loss , working capital fluctuations and changes in our non-cash expenses , all of which are highly variable . the change in net cash from investing activities from 2019 as compared to 2018 reflected differences between the proceeds received from sale and maturity of our investments and amounts reinvested , as well as payments for business combinations . cash used for investing activities also reflected payments for the purchases of property and equipment for all years presented . we paid $ 614.1 million ( or $ 598.2 million net of the cash acquired ) for the cascadian acquisition in march 2018 , and we received $ 91.9 million from selling a portion of our immunomedics common stock holdings during 2018. the change in net cash from financing activities included proceeds from stock option exercises and our employee stock purchase plan for all years presented . cash provided by financing activities in 2019 included $ 548.7 million net proceeds from our public offering in july 2019 , with the primary uses for ongoing commercialization of adcetris , our commercial launch activities for padcev , our research and development efforts to further expand the adcetris label and to advance our pipeline of product candidates , as well as for general corporate purposes , including working capital .


 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 replace_table_token_10_th 87 replace_table_token_11_th the change in net cash from operating activities from 2019 as compared to 2018 primarily was related to the change in our net loss , working capital fluctuations and changes in our non-cash expenses , all of which are highly variable . the change in net cash from investing activities from 2019 as compared to 2018 reflected differences between the proceeds received from sale and maturity of our investments and amounts reinvested , as well as payments for business combinations . cash used for investing activities also reflected payments for the purchases of property and equipment for all years presented . we paid $ 614.1 million ( or $ 598.2 million net of the cash acquired ) for the cascadian acquisition in march 2018 , and we received $ 91.9 million from selling a portion of our immunomedics common stock holdings during 2018. the change in net cash from financing activities included proceeds from stock option exercises and our employee stock purchase plan for all years presented . cash provided by financing activities in 2019 included $ 548.7 million net proceeds from our public offering in july 2019 , with the primary uses for ongoing commercialization of adcetris , our commercial launch activities for padcev , our research and development efforts to further expand the adcetris label and to advance our pipeline of product candidates , as well as for general corporate purposes , including working capital .
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 Suspicious Activity Report : we expect that our ability to continue to grow our adcetris sales , if at all , will depend primarily on our ability to establish or demonstrate to the medical community the value of adcetris and its potential advantages compared to existing and future therapeutics in its approved indications , including in the frontline hodgkin lymphoma and ptcl indications , and the extent to which physicians make prescribing decisions with respect to adcetris . other important factors affecting adcetris sales include the extent to which takeda obtains further regulatory approvals of adcetris in its territories , the incidence flow of patients eligible for treatment in adcetris ' approved indications , the extent to which coverage and adequate levels of reimbursement for adcetris are available from governments and other third-party payors , the impact of any healthcare reform measures that may be adopted in the future , including measures that could potentially result in more rigorous coverage criteria and additional downward pressure on the price that we receive for adcetris , increasing competition from competing therapies and the potential future approval of adcetris in any additional indications . in addition , as a result of these and other factors , our future adcetris product sales can be difficult to accurately predict from period to period . our ability to realize the anticipated benefits from our investment in padcev is subject to a number of risks and uncertainties , including our and astellas ' ability to successfully jointly launch , market and commercialize padcev in the u.s. in its approved indication , the extent to which we and astellas are able to obtain regulatory approvals of padcev in additional indications , including in the frontline metastatic urothelial cancer setting , and in territories outside the u.s. , our ability and astellas ' ability to successfully comply with rigorous post-marketing requirements , including the successful completion of the required confirmatory post-marketing study that we and astellas are subject to as a result of an accelerated approval by the fda , the acceptance of padcev by the medical community and patients , the extent to which physicians make prescribing decisions with respect to padcev , the incidence flow of patients eligible for treatment in padcev 's approved indication , the duration of therapy for patients receiving padcev , the extent to which coverage and adequate levels of reimbursement for padcev are available from governments and other third-party payors , the impact of any healthcare reform measures that may be adopted in the future , including measures that could potentially result in more rigorous coverage criteria and additional downward pressure on the price that we receive for padcev and potential competition from competing therapies . in addition , due to the lack of any historical sales data and these factors , padcev sales are currently difficult to predict from period to period . with respect to tucatinib , although we submitted an nda to the fda in december 2019 and submitted applications for regulatory approval in jurisdictions outside the u.s. , we can not predict whether our nda or applications will be accepted for filing or approved by the regulatory authorities in a timely manner or at all . even if approved for commercial sale , our ability to realize the anticipated benefits of our investment in tucatinib is subject to a number of risks and uncertainties , including our ability to successfully launch , market and commercialize any approved tucatinib indication , the acceptance of any approved tucatinib indication by the medical community and patients , competition from other therapies , and the extent to which coverage and reimbursement will be available from governments and other third-party payors . in addition , we have no prior experience as an organization launching or commercializing a product in markets outside the u.s. and canada , which could adversely affect our ability to maximize the commercial potential of any approved tucatinib indication . our ability to successfully launch and commercialize tucatinib in new markets will face additional risks and uncertainties , including our ability to build new commercial infrastructure and navigate unique country-by-country pricing and reimbursement requirements . the launch of tucatinib in new countries could be delayed due to a variety of factors , including supply constraints , delays in arranging a commercial infrastructure or delays in negotiating pricing and obtaining required reimbursement approvals . if we experience delays or unforeseen difficulties due to any of these factors , planned launches in the countries in question would be delayed , which could negatively impact anticipated revenue from tucatinib . in addition , if we are unable to obtain favorable pricing and reimbursement approvals in the countries that represent significant potential markets , our anticipated revenue from and growth prospects for tucatinib in europe and other regions could be negatively affected . the biopharmaceutical industry and the markets in which we operate are intensely competitive . many of our competitors are working to develop or have commercialized products similar to those we market or are developing . drug 76 prices are under significant scrutiny and we expect drug pricing and other health care costs to continue to be subject to intense political and societal pressures on a global basis . in addition to pricing actions and other measures being taken worldwide designed to reduce healthcare costs and limit the overall level of government expenditures , our sales and operations could also be affected by other risks of doing business internationally . we expect that amounts earned from our collaboration agreements , including royalties , will continue to be an important source of our revenues and cash flows . these revenues will be impacted by future development funding and the achievement of development , clinical and commercial success by our collaborators under our existing collaboration and license agreements , including our adcetris collaboration with takeda and our padcev collaboration with astellas , as well as by entering into potential new collaboration and license agreements . story_separator_special_tag sales royalties are based on a percentage of takeda 's net sales of adcetris , with rates that range from the mid-teens to the mid-twenties based on annual net sales tiers . takeda bears a portion of third-party royalty costs owed on its sales of adcetris . this amount is included in royalty revenues . cost of royalty revenues reflects amounts owed to our third-party licensors related to takeda 's sales of adcetris . these amounts are recognized in the period in which the related sales by takeda occur and are based on estimates if actual information is not yet available . since we do not take a substantive role or control the commercial sales of adcetris by takeda , estimating their net sales of adcetris may require significant judgment to the extent actual information is not yet available . business combinations , including acquired in-process research and development and goodwill . we account for business combinations using the acquisition method , recording the acquisition-date fair value of total consideration over the acquisition-date fair value of net assets acquired as goodwill . fair value is typically estimated using an income approach based on the present value of future discounted cash flows . the significant estimates in the discounted cash flow model primarily include the discount rate , rates of future revenue growth and or profitability of the acquired business . the discount rate considers the relevant risk associated with 80 business-specific characteristics and the uncertainty related to the ability to achieve the projected cash flows . specific to in-process research and development , significant estimates primarily include the number of potential patients and the market prices of future commercial products , costs required to conduct clinical trials and commercialize future products , and estimates for the probability of success and discount rate . these estimates and the resulting valuations require significant judgment . accrued liabilities . as part of the process of preparing financial statements , we estimate accrued liabilities . this process involves identifying services that have been performed on our behalf and estimating the level of services performed and the associated costs incurred for such services where we have not yet been invoiced or otherwise notified of actual cost . we record these estimates in our consolidated financial statements as of each balance sheet date . examples of estimated accrued liabilities include amounts due to contract research organizations and other costs in conjunction with clinical trials , amounts due in conjunction with manufacturing our product candidates , third-party royalties that accrue on our sales of adcetris and professional service fees , among other items . in accruing service fees , we estimate the time period over which services will be provided and the level of effort in each period . if the actual timing of the provision of services or the level of effort varies from the estimate , we will adjust the accrual accordingly . in the event that we do not identify costs that have been incurred or we under or overestimate the level of services performed or the costs of such services , our actual liabilities would differ from such estimates . the date on which some services commence , the level of services performed on or before a given date and the cost of such services are often subjective determinations . we make judgments based upon the facts and circumstances known to us at the time and in accordance with gaap . long-term incentive plans . we have long term incentive plans which provide eligible employees with the opportunity to receive performance-based incentive compensation , which may be comprised of cash , stock options , and or restricted stock units . the payment of cash and the grant or vesting of equity awards are contingent upon the achievement of pre-determined regulatory milestones . we record compensation expense over the estimated service period for each milestone when we believe the milestone is considered probable , which we assess at each reporting date . once a milestone is considered probable , we record compensation expense based on the portion of the service period elapsed to date with respect to that milestone , with a cumulative catch-up , net of estimated forfeitures , and recognize any remaining compensation expense , if any , over the remaining estimated service period . income taxes . we have net deferred tax assets which are fully offset by a valuation allowance due to our determination that it is more likely than not that the deferred tax assets will not be realized . with the exception of deferred tax assets that were applied to offset the tax liability on goodwill resulting from the cascadian acquisition , we believe that a valuation allowance is appropriate as we have a history of net operating losses . in the event we were to determine that we would be able to realize our net deferred tax assets in the future , an adjustment to the valuation allowance would be made , a portion of which would increase income ( or decrease losses ) in the period in which such a determination was made . we follow the guidance related to accounting for uncertainty in income taxes , which requires the recognition of an uncertain tax position when it is more likely than not to be sustainable upon audit by the applicable taxing authority . results of operations - years ended december 31 , 2019 , 2018 , and 2017 net product sales we sell adcetris in the u.s. and canada , and sell padcev in the u.s. percentage change ( dollars in thousands ) 2019 2018 2017 2019/2018 2018/2017 adcetris $ 627,733 $ 476,903 $ 307,562 32 % 55 % padcev 244 — — n/a n/a net product sales $ 627,977 $ 476,903 $ 307,562 32 % 55 % n/a : no amount in comparable period or not a meaningful comparison . 81 net product sales increase s in 2019 and 2018 as compared to prior

