in january , 2021 , we submitted a protocol amendment to the fda to shorten the duration of the determine study from 52 weeks to 28 weeks . subjects in the determine study are randomized to receive lenabasum 20 mg twice per day , lenabasum 5 mg twice per day , or placebo twice per day in a 2:1:2 ratio . the primary efficacy outcome , which will be measured at week 28 , is the american college of rheumatology/european league against rheumatism 2016 total improvement score , which is a weighted composite measure of improvement from baseline in six endpoints , including physician global assessment of disease activity , physician global assessment of extramuscular disease activity , patient global assessment of disease activity , health assessment questionnaire ( patient-reported disability ) , manual muscle testing , and muscle enzymes . change from baseline in the cutaneous dermatomyositis activity and severity index activity ( cdasi ) score is one of several secondary efficacy outcomes in the phase 3 study . last subject , last dose in the placebo-controlled part of the determine study has been completed in the first fiscal quarter of 2021 , with topline data expected in the second fiscal quarter of 2021. since our inception , we have devoted substantially all of our efforts to business planning , research and development , recruiting management and technical staff , acquiring operating assets and raising capital . our research and development activities have included conducting pre-clinical studies , developing manufacturing methods and the manufacturing of our drug lenabasum for clinical trials and conducting clinical studies in patients . in september 2018 , pursuant to a license agreement ( the ‘ jenrin agreement ” ) with jenrin discovery llc ( “ jenrin ” ) we acquired an exclusive worldwide license to develop , manufacture and market drug candidates from more than 600 compounds targeting the endocannabinoid system . the portfolio of compounds includes cannabinoid candidates targeting liver , lung , heart and kidney fibrotic diseases . on january 3 , 2019 , we entered into a strategic collaboration with kaken pharmaceutical co. , ltd. ( “ kaken ” ) for the development and commercialization in japan of our investigational drug lenabasum for the treatment of systemic sclerosis and dermatomyositis . under the terms of the agreement , kaken receives an exclusive license to commercialize and market lenabasum in japan for systemic sclerosis and dermatomyositis . in march 2019 , kaken made an upfront payment to us of $ 27 million . we are also eligible to receive up to $ 173 million upon achievement of certain regulatory , development and sales milestones as well as double- digit royalties from kaken . on january 30 , 2019 , we consummated an underwritten public offering of shares of our common stock pursuant to which we sold an aggregate of 6,198,500 shares of our common stock at a purchase price of $ 6.50 per share with gross proceeds to us totaling approximately $ 40.3 million , less estimated issuance costs incurred of approximately $ 2.6 million . 52 on february 11 , 2020 , we consummated an underwritten public offering of shares of our common stock pursuant to which we sold an aggregate of 7,666,667 shares of our common stock at a purchase price of $ 6.00 per share with gross proceeds to us totaling approximately $ 46.0 million , less estimated issuance costs incurred of approximately $ 3.0 million . on april 7 , 2020 , we entered into an open market sale agreement sm ( “ april 2020 sale agreement ” ) with jefferies llc ( “ jefferies ” ) pursuant to which jefferies is serving as our sales agent to sell up to $ 75,000,000 of shares of the company 's common stock through an “ at the market offering ” . as of december 31 , 2020 we sold 10,539,374 shares of our common stock under the april 2020 sale agreement for gross proceeds to us totaling $ 75,000,000 , less issuance costs incurred of approximately $ 2,250,000. on july 28 , 2020 , we entered into the loan agreement with our subsidiary , corbus pharmaceuticals , inc. , as borrower , us , as guarantor , each lender party thereto ( the “ lenders ” ) , k2 healthventures llc ( “ k2hv ” ) , an unrelated third party , as administrative agent for the lenders , and ankura trust company , llc , an unrelated third party , as collateral agent for the lenders , pursuant to which k2hv may provide us with term loans in an aggregate principal amount of up to a $ 50,000,000. on august 7 , 2020 , we entered into an open market sale agreement sm ( the “ august 2020 sale agreement ” ) with jefferies , as sales agent , pursuant to which we may issue and sell , from time to time , through jefferies , shares of our common stock . as of august 7 , 2020 , we are authorized to offer and sell up to $ 150 million of our common stock pursuant to the august 2020 sale agreement . as of december 31 , 2020 we have sold 15,546,151 shares of our common stock under the august 2020 sale agreement for gross proceeds totaling $ 21,404,000 , less issuance costs incurred of approximately $ 642,000. we expect the cash and cash equivalents of approximately $ 85.4 million at december 31 , 2020 , $ 58.9 million of proceeds raised from the august 2020 sale agreement from january 1 , 2021 through march 15 , 2021 , and the remaining $ 2.5 million of proceeds that we expect to receive under the 2018 cff award before the end of the first half of 2021 to be sufficient to meet our operating and capital requirements into 2024 , based on planned expenditures . story_separator_special_tag the $ 2,500,000 remainder of the 2018 cff award is payable to us incrementally upon the achievement of the remaining milestones related to the progress of the phase 2b clinical trial , as set forth in the investment agreement and we expect to receive the remainder before the end of the first half of 2021. revenue for the year ended december 31 , 2019 also included the recognition of revenue from licenses for the $ 27,000,000 upfront payment received from kaken in march 2019 for which we satisfied the combined performance obligation by june 30 , 2019 , upon which we recognized the $ 27,000,000 as revenue in the second quarter of 2019 . 57 we assessed the 2018 cff award and the kaken collaboration agreement for accounting under asc 606. to determine revenue recognition for arrangements that an entity determines are within the scope of asc 606 , the entity performs the following five steps : ( i ) identify the contract ( s ) with a customer ; ( ii ) identify the performance obligations in the contract ; ( iii ) determine the transaction price ; ( iv ) allocate the transaction price to the performance obligations in the contract ; and ( v ) recognize revenue when ( or as ) the entity satisfies a performance obligation . research and development . research and development expenses for the year ended december 31 , 2020 totaled approximately $ 98,267,000 , an increase of $ 8,662,000 over the $ 89,605,000 recorded for the year ended december 31 , 2019. the increase in fiscal 2020 as compared to fiscal 2019 was primarily attributable to increases of approximately $ 3,561,000 in clinical trial costs and $ 5,638,000 in compensation costs . these increases were partially offset by an approximate $ 537,000 decrease in stock-based compensation expense . during 2018 , the company formed a subsidiary in each of the united kingdom and australia and approximately 44 % and 46 % of research and development expenses recorded for the year ended december 31 , 2020 and december 31 , 2019 respectively was recorded in these entities . general and administrative . general and administrative expense for the year ended december 31 , 2020 totaled approximately $ 28,480,000 , an increase of $ 4,837,000 over the $ 23,643,000 recorded for the year ended december 31 , 2019. the increase in fiscal 2020 as compared to fiscal 2019 was primarily attributable to increases of approximately $ 3,119,000 in compensation costs , $ 1,014,000 stock-based compensation , $ 473,000 in insurance costs , and $ 376,000 in temporary help and recruiting costs . other income , net . other income , net for 2020 was approximately $ 11,541,000 as compared to approximately $ 5,651,000 recorded for 2019. the increase of $ 5,890,000 in 2020 as compared to 2019 was primarily attributable to approximately $ 9,574,000 increase in cash paid to us in 2020 from taxing authorities for refundable research and development tax credits that were earned on certain research and development expenses we incurred primarily outside of the united states , offset by $ 251,000 related to the derivative liability valuation associated with the loan agreement with k2hv and $ 850,000 related to a return of a state of massachusetts research and development tax credit . in prior year we received approximately $ 472,000 for a refundable research and development tax credit and in 2020 approximately $ 378,000 became due back to the state of massachusetts . the net increase was also offset by a $ 2,256,000 decrease to interest income . this was the result of approximately $ 1,100,000 lower interest income on excess cash and cash equivalents and $ 1,127,000 higher interest expense in 2020 as a result of entering into k2hv security and loan agreement . story_separator_special_tag or discontinuing certain clinical activities . we may seek to sell common stock , preferred stock or convertible debt securities , enter into a credit facility or another form of third-party funding or seek other debt financing . in addition , we may seek to raise cash through collaborative agreements or from government grants . the sale of equity and convertible debt securities may result in dilution to our stockholders and certain of those securities may have rights senior to those of our common shares . if we raise additional funds through the issuance of preferred stock , convertible debt securities or other debt financing , these securities or other debt could contain covenants that would restrict our operations . any other third-party funding arrangement could require us to relinquish valuable rights . the source , timing and availability of any future financing will depend principally upon market conditions , and , more specifically , on the progress of our clinical development programs . funding may not be available when needed , at all , or on terms acceptable to us . lack of necessary funds may require us , among other things , to delay , scale back or eliminate expenses including some or all of our planned clinical trials . 59 contractual obligations and commitments the following table presents information about our known contractual obligations as of december 31 , 2020. it does not reflect contractual obligations that may have arisen or may arise after that date . except for historical facts , the information in this section is forward-looking information . replace_table_token_2_th on february 26 , 2019 , we amended our lease ( “ february 2019 lease agreement ” ) pursuant to which an additional 30,023 square feet of office space ( “ new premises ” ) will be leased by us in the same building for an aggregate total of 62,756 square feet of leased office space ( “ total premises ” ) . the february 2019 lease agreement constitutes a modification as it extends the original lease term and increases the scope of the lease ( additional space provided under the amendment ) , which requires evaluation of the

liquidity and capital resources since inception , we have experienced negative cash flows from operations . we have financed our operations primarily through sales of equity-related securities . in addition , the majority of the costs of the sle clinical trial has been or is expected to be funded by nih grants , and our phase 2b cystic fibrosis trial was supported by the 2018 cff award . at december 31 , 2020 , our accumulated deficit since inception was approximately $ 304,093,000. at december 31 , 2020 , we had total current assets of approximately $ 92,075,000 and current liabilities of approximately $ 31,898,000 resulting in working capital of approximately $ 60,177,000. of our total cash and cash equivalents of $ 85.4 million at december 31 , 2020 , $ 84.4 million was held within the united states . net cash used in operating activities for the year ended december 31 , 2020 was approximately $ 99,686,000 which includes a net loss of approximately $ 111,269,000 , adjusted for non-cash expenses of approximately $ 14,789,000 , principally related to stock-based compensation expense of $ 12,458,000 , depreciation and amortization expense of $ 1,124,000 and operating lease right of use asset amortization of $ 570,000 , and approximately $ 3,205,000 of cash used by net working capital items , principally related to the decrease in accounts payable . cash used in investing activities for the year ended december 31 , 2020 totaled approximately $ 484,000 , which was largely related to payments for furniture and fixtures utilized in the build out of our office space in 2019 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources since inception , we have experienced negative cash flows from operations . we have financed our operations primarily through sales of equity-related securities . in addition , the majority of the costs of the sle clinical trial has been or is expected to be funded by nih grants , and our phase 2b cystic fibrosis trial was supported by the 2018 cff award . at december 31 , 2020 , our accumulated deficit since inception was approximately $ 304,093,000. at december 31 , 2020 , we had total current assets of approximately $ 92,075,000 and current liabilities of approximately $ 31,898,000 resulting in working capital of approximately $ 60,177,000. of our total cash and cash equivalents of $ 85.4 million at december 31 , 2020 , $ 84.4 million was held within the united states . net cash used in operating activities for the year ended december 31 , 2020 was approximately $ 99,686,000 which includes a net loss of approximately $ 111,269,000 , adjusted for non-cash expenses of approximately $ 14,789,000 , principally related to stock-based compensation expense of $ 12,458,000 , depreciation and amortization expense of $ 1,124,000 and operating lease right of use asset amortization of $ 570,000 , and approximately $ 3,205,000 of cash used by net working capital items , principally related to the decrease in accounts payable . cash used in investing activities for the year ended december 31 , 2020 totaled approximately $ 484,000 , which was largely related to payments for furniture and fixtures utilized in the build out of our office space in 2019 .
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 Suspicious Activity Report : in january , 2021 , we submitted a protocol amendment to the fda to shorten the duration of the determine study from 52 weeks to 28 weeks . subjects in the determine study are randomized to receive lenabasum 20 mg twice per day , lenabasum 5 mg twice per day , or placebo twice per day in a 2:1:2 ratio . the primary efficacy outcome , which will be measured at week 28 , is the american college of rheumatology/european league against rheumatism 2016 total improvement score , which is a weighted composite measure of improvement from baseline in six endpoints , including physician global assessment of disease activity , physician global assessment of extramuscular disease activity , patient global assessment of disease activity , health assessment questionnaire ( patient-reported disability ) , manual muscle testing , and muscle enzymes . change from baseline in the cutaneous dermatomyositis activity and severity index activity ( cdasi ) score is one of several secondary efficacy outcomes in the phase 3 study . last subject , last dose in the placebo-controlled part of the determine study has been completed in the first fiscal quarter of 2021 , with topline data expected in the second fiscal quarter of 2021. since our inception , we have devoted substantially all of our efforts to business planning , research and development , recruiting management and technical staff , acquiring operating assets and raising capital . our research and development activities have included conducting pre-clinical studies , developing manufacturing methods and the manufacturing of our drug lenabasum for clinical trials and conducting clinical studies in patients . in september 2018 , pursuant to a license agreement ( the ‘ jenrin agreement ” ) with jenrin discovery llc ( “ jenrin ” ) we acquired an exclusive worldwide license to develop , manufacture and market drug candidates from more than 600 compounds targeting the endocannabinoid system . the portfolio of compounds includes cannabinoid candidates targeting liver , lung , heart and kidney fibrotic diseases . on january 3 , 2019 , we entered into a strategic collaboration with kaken pharmaceutical co. , ltd. ( “ kaken ” ) for the development and commercialization in japan of our investigational drug lenabasum for the treatment of systemic sclerosis and dermatomyositis . under the terms of the agreement , kaken receives an exclusive license to commercialize and market lenabasum in japan for systemic sclerosis and dermatomyositis . in march 2019 , kaken made an upfront payment to us of $ 27 million . we are also eligible to receive up to $ 173 million upon achievement of certain regulatory , development and sales milestones as well as double- digit royalties from kaken . on january 30 , 2019 , we consummated an underwritten public offering of shares of our common stock pursuant to which we sold an aggregate of 6,198,500 shares of our common stock at a purchase price of $ 6.50 per share with gross proceeds to us totaling approximately $ 40.3 million , less estimated issuance costs incurred of approximately $ 2.6 million . 52 on february 11 , 2020 , we consummated an underwritten public offering of shares of our common stock pursuant to which we sold an aggregate of 7,666,667 shares of our common stock at a purchase price of $ 6.00 per share with gross proceeds to us totaling approximately $ 46.0 million , less estimated issuance costs incurred of approximately $ 3.0 million . on april 7 , 2020 , we entered into an open market sale agreement sm ( “ april 2020 sale agreement ” ) with jefferies llc ( “ jefferies ” ) pursuant to which jefferies is serving as our sales agent to sell up to $ 75,000,000 of shares of the company 's common stock through an “ at the market offering ” . as of december 31 , 2020 we sold 10,539,374 shares of our common stock under the april 2020 sale agreement for gross proceeds to us totaling $ 75,000,000 , less issuance costs incurred of approximately $ 2,250,000. on july 28 , 2020 , we entered into the loan agreement with our subsidiary , corbus pharmaceuticals , inc. , as borrower , us , as guarantor , each lender party thereto ( the “ lenders ” ) , k2 healthventures llc ( “ k2hv ” ) , an unrelated third party , as administrative agent for the lenders , and ankura trust company , llc , an unrelated third party , as collateral agent for the lenders , pursuant to which k2hv may provide us with term loans in an aggregate principal amount of up to a $ 50,000,000. on august 7 , 2020 , we entered into an open market sale agreement sm ( the “ august 2020 sale agreement ” ) with jefferies , as sales agent , pursuant to which we may issue and sell , from time to time , through jefferies , shares of our common stock . as of august 7 , 2020 , we are authorized to offer and sell up to $ 150 million of our common stock pursuant to the august 2020 sale agreement . as of december 31 , 2020 we have sold 15,546,151 shares of our common stock under the august 2020 sale agreement for gross proceeds totaling $ 21,404,000 , less issuance costs incurred of approximately $ 642,000. we expect the cash and cash equivalents of approximately $ 85.4 million at december 31 , 2020 , $ 58.9 million of proceeds raised from the august 2020 sale agreement from january 1 , 2021 through march 15 , 2021 , and the remaining $ 2.5 million of proceeds that we expect to receive under the 2018 cff award before the end of the first half of 2021 to be sufficient to meet our operating and capital requirements into 2024 , based on planned expenditures . story_separator_special_tag the $ 2,500,000 remainder of the 2018 cff award is payable to us incrementally upon the achievement of the remaining milestones related to the progress of the phase 2b clinical trial , as set forth in the investment agreement and we expect to receive the remainder before the end of the first half of 2021. revenue for the year ended december 31 , 2019 also included the recognition of revenue from licenses for the $ 27,000,000 upfront payment received from kaken in march 2019 for which we satisfied the combined performance obligation by june 30 , 2019 , upon which we recognized the $ 27,000,000 as revenue in the second quarter of 2019 . 57 we assessed the 2018 cff award and the kaken collaboration agreement for accounting under asc 606. to determine revenue recognition for arrangements that an entity determines are within the scope of asc 606 , the entity performs the following five steps : ( i ) identify the contract ( s ) with a customer ; ( ii ) identify the performance obligations in the contract ; ( iii ) determine the transaction price ; ( iv ) allocate the transaction price to the performance obligations in the contract ; and ( v ) recognize revenue when ( or as ) the entity satisfies a performance obligation . research and development . research and development expenses for the year ended december 31 , 2020 totaled approximately $ 98,267,000 , an increase of $ 8,662,000 over the $ 89,605,000 recorded for the year ended december 31 , 2019. the increase in fiscal 2020 as compared to fiscal 2019 was primarily attributable to increases of approximately $ 3,561,000 in clinical trial costs and $ 5,638,000 in compensation costs . these increases were partially offset by an approximate $ 537,000 decrease in stock-based compensation expense . during 2018 , the company formed a subsidiary in each of the united kingdom and australia and approximately 44 % and 46 % of research and development expenses recorded for the year ended december 31 , 2020 and december 31 , 2019 respectively was recorded in these entities . general and administrative . general and administrative expense for the year ended december 31 , 2020 totaled approximately $ 28,480,000 , an increase of $ 4,837,000 over the $ 23,643,000 recorded for the year ended december 31 , 2019. the increase in fiscal 2020 as compared to fiscal 2019 was primarily attributable to increases of approximately $ 3,119,000 in compensation costs , $ 1,014,000 stock-based compensation , $ 473,000 in insurance costs , and $ 376,000 in temporary help and recruiting costs . other income , net . other income , net for 2020 was approximately $ 11,541,000 as compared to approximately $ 5,651,000 recorded for 2019. the increase of $ 5,890,000 in 2020 as compared to 2019 was primarily attributable to approximately $ 9,574,000 increase in cash paid to us in 2020 from taxing authorities for refundable research and development tax credits that were earned on certain research and development expenses we incurred primarily outside of the united states , offset by $ 251,000 related to the derivative liability valuation associated with the loan agreement with k2hv and $ 850,000 related to a return of a state of massachusetts research and development tax credit . in prior year we received approximately $ 472,000 for a refundable research and development tax credit and in 2020 approximately $ 378,000 became due back to the state of massachusetts . the net increase was also offset by a $ 2,256,000 decrease to interest income . this was the result of approximately $ 1,100,000 lower interest income on excess cash and cash equivalents and $ 1,127,000 higher interest expense in 2020 as a result of entering into k2hv security and loan agreement . story_separator_special_tag or discontinuing certain clinical activities . we may seek to sell common stock , preferred stock or convertible debt securities , enter into a credit facility or another form of third-party funding or seek other debt financing . in addition , we may seek to raise cash through collaborative agreements or from government grants . the sale of equity and convertible debt securities may result in dilution to our stockholders and certain of those securities may have rights senior to those of our common shares . if we raise additional funds through the issuance of preferred stock , convertible debt securities or other debt financing , these securities or other debt could contain covenants that would restrict our operations . any other third-party funding arrangement could require us to relinquish valuable rights . the source , timing and availability of any future financing will depend principally upon market conditions , and , more specifically , on the progress of our clinical development programs . funding may not be available when needed , at all , or on terms acceptable to us . lack of necessary funds may require us , among other things , to delay , scale back or eliminate expenses including some or all of our planned clinical trials . 59 contractual obligations and commitments the following table presents information about our known contractual obligations as of december 31 , 2020. it does not reflect contractual obligations that may have arisen or may arise after that date . except for historical facts , the information in this section is forward-looking information . replace_table_token_2_th on february 26 , 2019 , we amended our lease ( “ february 2019 lease agreement ” ) pursuant to which an additional 30,023 square feet of office space ( “ new premises ” ) will be leased by us in the same building for an aggregate total of 62,756 square feet of leased office space ( “ total premises ” ) . the february 2019 lease agreement constitutes a modification as it extends the original lease term and increases the scope of the lease ( additional space provided under the amendment ) , which requires evaluation of the

