in october 2014 , we entered into a second amendment to the amended and restated loan and security agreement which extended the interest only period from october 1 , 2014 to may 1 , 2015 , after which equal monthly payments of principal and interest are due until the loan maturity date of september 30 , 2017. underwritten public offering . in may 2014 , we closed an underwritten public offering of 4,765,000 shares of common stock , at $ 5.25 per share , and in june 2014 , closed the full exercise of the over-allotment option granted to the representative of the underwriters to purchase an additional 714,750 shares of its common stock , with total gross proceeds of $ 28.8 million , before underwriting discounts and commissions and other offering expenses payable by us . agreement with morphotek . in june 2014 , we entered into a collaboration agreement with morphotek , inc. , or morphotek , to generate novel adcs based on a morphotek antibody linked to chemotherapeutic agents using proprietary adc technology . under the terms of the agreement , we received $ 200,000 during 2014 upon the completion and delivery of the agreed upon initial quantity of adc 's and we will receive future research fees , milestone payments and royalties on future net sales . additionally , we have the potential to receive up to $ 50 million upon the successful attainment of key milestones . agreement with lee 's pharmaceutical . i n october 2014 , we entered into a license agreement with china oncology focus limited , an affiliate of lee 's pharmaceutical holdings limited , or lee 's pharma , pursuant to which lee 's pharma licensed our fully human immune-oncology anti-pd-l1 monoclonal antibody sti-a1014 . under the terms of the agreement , lee 's pharma received exclusive rights to develop and commercialize the sti-a1014 for the greater chinese market , including mainland china , hong kong , macau , and taiwan . in turn , we received an up-front payment of $ 1.0 million recorded as deferred revenue at december 31 , 2014 , and will receive potential future milestone payments and royalties on future net sales . in total , we have the potential to receive more than $ 46 million upon the successful attainment of key milestones , excluding royalties , and retain all the rights to use data generated by lee 's pharma for territories outside of the greater chinese market . additionally , lee 's pharma purchased 400,000 shares of our common stock at a price of $ 9.00 per share , or an aggregate of $ 3.6 million , before commissions . joint venture agreement . i n december , 2014 , we entered into an agreement with nantbiocell , llc , or nantbiocell , a wholly owned subsidiary of nantworks , a private company owned by dr. patrick soon-shiong . under the terms of the agreement , we and nantbiocell intend to establish a new joint venture called the immunotherapy antibody jv , or jv , as an independent biotechnology company with $ 20.0 million initial joint funding expected mid-2015 , $ 12.0 million from nantbiocell and $ 8.0 from us representing a at 60:40 ownership between nantbiocell and us , respectively . the jv will focus on accelerating the development of multiple immuno-oncology monoclonal antibodies ( mabs ) for the treatment of cancer , including but not limited to anti-pd-1 , anti-pd-l1 , anti-ctla4 mabs , and other immune-check point antibodies as well as antibody drug conjugates ( adcs ) and bispecific antibodies . in connection with this agreement we entered into a securities purchase agreement with cambridge equities , lp , or cambridge , a limited partnership owned by dr. soon-shiong , pursuant to which we agreed to issue and sell to cambridge a 19.9 % equity stake or an aggregate of 7,188,062 shares of our common stock at a price of $ 5.80 per share for an aggregate purchase price of $ 41.7 million . in connection with the purchase agreement , cambridge received a warrant to purchase 1,724,138 shares of our common stock . the warrant is exercisable for a period of three years from the date of issuance at an initial exercise price of $ 5.80 per share and is subject to customary adjustments provisions for stock splits , stock dividends , recapitalizations and the like . agreement with conkwest incorporated . in december 2014 , we also entered into a collaboration agreement with conkwest incorporated , or conkwest , a privately-held life sciences company developing and commercializing the proprietary cancer-killing cell line neukoplast ( also known as nk-92 ) for the treatment of cancers and viral infections . jointly , we and conkwest will generate and 53 develop products for adoptive immunocellular therapy utilizing neukoplast cells and chimeric antigen receptors , or cars , derived from our g-mab antibody library . the product candidates , coined chimeric antigen receptor tumor-attacking neukoplast ( car.tnk ) , will be developed for the treatment of hematological malignancies as well as solid tumors . under the terms of the agreement , we and conkwest will establish an exclusive global strategic collaboration focused on accelerating the development of car.tnks , including cd19-car.tnk , pd-l1-car.tnk , psma-car.tnk , cd123-car.tnk , and other car.tnks for the treatment of hematological malignancies as well as solid tumors . both companies will jointly own and share development costs and revenues from any developed car.tnk products . in connection with this agreement we entered into a subscription and investment agreement with conkwest , as amended , pursuant to which conkwest issued and sold to us an aggregate of 3,034,473 shares of conkwest class a common stock for an aggregate purchase price of $ 10.0 million representing an equity stake in conkwest of approximately 9 % . related party agreements with wholly-owned subsidiary ark animal health , inc. license and development agreement . story_separator_special_tag cost of revenues relate to sales and services costs totaling $ 4. the costs generally include employee-related expenses including salary and benefits , direct materials and overhead costs including rent , depreciation , utilities , facility maintenance and insurance . research and development expenses . research and development expenses for the years ended december 31 , 2013 and 2012 were $ 9,017 and $ 3,830 , respectively . research and development expenses include the costs to identify , isolate and advance human antibody drug candidates derived from our libraries , costs to initiate and or conduct our bioequivalence , or be , registration trial related to cynviloq and prepare for our new drug application filing anticipated in 2015 , preclinical testing expenses and the expenses associated with fulfilling our development obligations related to the nih grant awards , collectively the nih grants . such expenses consist primarily of salaries and personnel related expenses , stock-based compensation expense , preclinical testing , clinical development expenses , laboratory supplies , consulting costs , depreciation and other expenses . the increase of $ 5,187 is primarily attributable to salaries and compensation related expense , preclinical testing , depreciation , consulting and lab supply costs incurred in connection with our expanded research and development activities , our be registration trial and receipt of the two nih grant awards in july 2011 and june 2012 , respectively . acquired in-process research and development expenses . acquired in-process research and development expenses for the years ended december 31 , 2013 and 2012 were $ 5,986 and $ 0 , respectively . acquired in-process research and development expenses include : ( i ) the costs associated with entering into a termination and release agreement with opko whereby we terminated the opko license in its entirety , ( ii ) the purchase price of tocosol , and ( iii ) the purchase price of the license rights to rtx . general and administrative expenses . general and administrative expenses for the years ended december 31 , 2013 and 2012 were $ 6,317 and $ 1,606 , respectively . general and administrative expenses consist primarily of salaries and personnel related expenses for executive , finance and administrative personnel , stock-based compensation expense , professional fees , infrastructure expenses , legal and accounting expenses and other general corporate expenses . the increase of $ 4,711 is primarily attributable to higher salaries and related compensation expenses , stock-based compensation , legal costs related general corporate and ip matters , consulting and business development expenses and higher compliance costs associated with our public reporting obligations . intangible amortization . intangible amortization for the years ended december 31 , 2013 and 2012 was $ 804 and $ 0 , respectively . the increase resulted primarily from the acquisition and amortization of intangible license rights from igdrasol , from the amortization of our exclusive irrevocable option agreement to acquire igdrasol , and from acquired technology and customer relationships from concortis . interest expense . interest expense for the years ended december 31 , 2013 and 2012 was $ 253 and $ 0 , respectively . the increase in interest expense resulted from borrowings under the equipment loan entered into in february 2013 and from borrowings under the loan and security agreement entered into in september 2013. interest income . interest income for the years ended december 31 , 2013 and 2012 was $ 10 and $ 7 , respectively . the increase in interest income resulted from higher average cash balances in 2013 as compared to 2012. we expect that continued low interest rates will significantly limit our interest income in the near term . net loss . net loss for the years ended december 31 , 2013 and 2012 was $ 21,911 and $ 4,845 , respectively . the increase in net loss is mainly attributable to the expanded research and development , in-process research and development , and general and administrative activities . 57 story_separator_special_tag ratios that may restrict our ability to operate our business . critical accounting policies our consolidated financial statements are prepared in accordance with generally accepted accounting principles . the preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses and related disclosures . we evaluate our estimates and assumptions on an ongoing basis . our estimates are based on historical experience and various other assumptions that we believe to be reasonable under the circumstances . our actual results could differ from these estimates . we believe the following accounting policies and estimates are most critical to aid in understanding and evaluating our reported financial results . cash and cash equivalents . we consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents . we minimize our credit risk associated with cash and cash equivalents by periodically evaluating the credit quality of our primary financial institution . the balance at times may exceed federally insured limits . as of december 31 , 2014 , we have not experienced any losses on such accounts . stock-based compensation . we account for stock-based compensation in accordance with authoritative guidance for stock-based compensation , which requires us to measure the cost of employee services received in exchange for equity incentive awards , including stock options , based on the grant date fair value of the award . the fair value is estimated using the black-scholes option pricing model . the resulting cost is recognized over the period during which the employee is required to provide services in exchange for the award , which is usually the vesting period . we recognize compensation expense over the vesting period using the straight-line method and classify these amounts in the consolidated statements of operations based on the department to which the related employee reports . to the extent that we issue future stock incentive awards to employees , our stock-based

liquidity and capital resources as of december 31 , 2014 , we had $ 71,902 in cash and cash equivalents primarily attributable to : ( i ) issuance of 7.2 million shares of our common stock for cash to cambridge equities in a private equity financing totaling $ 41,723 , ( ii ) issuance of 400,000 shares of our common stock for cash to lee 's pharmaceuticals in a private equity financing totaling $ 3,420 , ( iii ) the closing of our underwritten public offerings in october 2013 and may 2014 and conversion of outstanding promissory notes into our common stock for aggregate net proceeds of $ 59,847 , and ( iv ) net borrowings under our $ 12.5 million amended and restated loan and security agreement in march 2014. our working capital as of december 31 , 2014 was $ 64.4 million . cash flows from operating activities . net cash used for operating activities was $ 28,764 for 2014 and is primarily attributable to our net loss of $ 34,657 and our net reduction in working capital balances of $ 222 , which were offset by $ 6,115 in non-cash activities relating to stock-based compensation , acquired in-process research and development , depreciation and amortization expense and other non-cash activities . net cash used for operating activities was $ 16,489 for 2013 and primarily reflects a net loss of $ 21,911 , which was partially offset by $ 4,984 in non-cash activities relating primarily to stock-based compensation and depreciation expense . we expect to continue to incur substantial and increasing losses and have negative net cash flows from operating activities as we seek to expand and support our clinical and preclinical development and research activities . cash flows from investing activities . net cash used for investing activities was $ 10,591 for 2014 as compared to $ 503 for 2013. the net cash used related primarily to an investment in conkwest incorporated class a common stock and equipment acquired for research and development activities . we expect to increase our investment in equipment as we seek to expand and progress our research and development capabilities . cash flows from financing 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.
     ```liquidity and capital resources as of december 31 , 2014 , we had $ 71,902 in cash and cash equivalents primarily attributable to : ( i ) issuance of 7.2 million shares of our common stock for cash to cambridge equities in a private equity financing totaling $ 41,723 , ( ii ) issuance of 400,000 shares of our common stock for cash to lee 's pharmaceuticals in a private equity financing totaling $ 3,420 , ( iii ) the closing of our underwritten public offerings in october 2013 and may 2014 and conversion of outstanding promissory notes into our common stock for aggregate net proceeds of $ 59,847 , and ( iv ) net borrowings under our $ 12.5 million amended and restated loan and security agreement in march 2014. our working capital as of december 31 , 2014 was $ 64.4 million . cash flows from operating activities . net cash used for operating activities was $ 28,764 for 2014 and is primarily attributable to our net loss of $ 34,657 and our net reduction in working capital balances of $ 222 , which were offset by $ 6,115 in non-cash activities relating to stock-based compensation , acquired in-process research and development , depreciation and amortization expense and other non-cash activities . net cash used for operating activities was $ 16,489 for 2013 and primarily reflects a net loss of $ 21,911 , which was partially offset by $ 4,984 in non-cash activities relating primarily to stock-based compensation and depreciation expense . we expect to continue to incur substantial and increasing losses and have negative net cash flows from operating activities as we seek to expand and support our clinical and preclinical development and research activities . cash flows from investing activities . net cash used for investing activities was $ 10,591 for 2014 as compared to $ 503 for 2013. the net cash used related primarily to an investment in conkwest incorporated class a common stock and equipment acquired for research and development activities . we expect to increase our investment in equipment as we seek to expand and progress our research and development capabilities . cash flows from financing activities .
```    
 Suspicious Activity Report : in october 2014 , we entered into a second amendment to the amended and restated loan and security agreement which extended the interest only period from october 1 , 2014 to may 1 , 2015 , after which equal monthly payments of principal and interest are due until the loan maturity date of september 30 , 2017. underwritten public offering . in may 2014 , we closed an underwritten public offering of 4,765,000 shares of common stock , at $ 5.25 per share , and in june 2014 , closed the full exercise of the over-allotment option granted to the representative of the underwriters to purchase an additional 714,750 shares of its common stock , with total gross proceeds of $ 28.8 million , before underwriting discounts and commissions and other offering expenses payable by us . agreement with morphotek . in june 2014 , we entered into a collaboration agreement with morphotek , inc. , or morphotek , to generate novel adcs based on a morphotek antibody linked to chemotherapeutic agents using proprietary adc technology . under the terms of the agreement , we received $ 200,000 during 2014 upon the completion and delivery of the agreed upon initial quantity of adc 's and we will receive future research fees , milestone payments and royalties on future net sales . additionally , we have the potential to receive up to $ 50 million upon the successful attainment of key milestones . agreement with lee 's pharmaceutical . i n october 2014 , we entered into a license agreement with china oncology focus limited , an affiliate of lee 's pharmaceutical holdings limited , or lee 's pharma , pursuant to which lee 's pharma licensed our fully human immune-oncology anti-pd-l1 monoclonal antibody sti-a1014 . under the terms of the agreement , lee 's pharma received exclusive rights to develop and commercialize the sti-a1014 for the greater chinese market , including mainland china , hong kong , macau , and taiwan . in turn , we received an up-front payment of $ 1.0 million recorded as deferred revenue at december 31 , 2014 , and will receive potential future milestone payments and royalties on future net sales . in total , we have the potential to receive more than $ 46 million upon the successful attainment of key milestones , excluding royalties , and retain all the rights to use data generated by lee 's pharma for territories outside of the greater chinese market . additionally , lee 's pharma purchased 400,000 shares of our common stock at a price of $ 9.00 per share , or an aggregate of $ 3.6 million , before commissions . joint venture agreement . i n december , 2014 , we entered into an agreement with nantbiocell , llc , or nantbiocell , a wholly owned subsidiary of nantworks , a private company owned by dr. patrick soon-shiong . under the terms of the agreement , we and nantbiocell intend to establish a new joint venture called the immunotherapy antibody jv , or jv , as an independent biotechnology company with $ 20.0 million initial joint funding expected mid-2015 , $ 12.0 million from nantbiocell and $ 8.0 from us representing a at 60:40 ownership between nantbiocell and us , respectively . the jv will focus on accelerating the development of multiple immuno-oncology monoclonal antibodies ( mabs ) for the treatment of cancer , including but not limited to anti-pd-1 , anti-pd-l1 , anti-ctla4 mabs , and other immune-check point antibodies as well as antibody drug conjugates ( adcs ) and bispecific antibodies . in connection with this agreement we entered into a securities purchase agreement with cambridge equities , lp , or cambridge , a limited partnership owned by dr. soon-shiong , pursuant to which we agreed to issue and sell to cambridge a 19.9 % equity stake or an aggregate of 7,188,062 shares of our common stock at a price of $ 5.80 per share for an aggregate purchase price of $ 41.7 million . in connection with the purchase agreement , cambridge received a warrant to purchase 1,724,138 shares of our common stock . the warrant is exercisable for a period of three years from the date of issuance at an initial exercise price of $ 5.80 per share and is subject to customary adjustments provisions for stock splits , stock dividends , recapitalizations and the like . agreement with conkwest incorporated . in december 2014 , we also entered into a collaboration agreement with conkwest incorporated , or conkwest , a privately-held life sciences company developing and commercializing the proprietary cancer-killing cell line neukoplast ( also known as nk-92 ) for the treatment of cancers and viral infections . jointly , we and conkwest will generate and 53 develop products for adoptive immunocellular therapy utilizing neukoplast cells and chimeric antigen receptors , or cars , derived from our g-mab antibody library . the product candidates , coined chimeric antigen receptor tumor-attacking neukoplast ( car.tnk ) , will be developed for the treatment of hematological malignancies as well as solid tumors . under the terms of the agreement , we and conkwest will establish an exclusive global strategic collaboration focused on accelerating the development of car.tnks , including cd19-car.tnk , pd-l1-car.tnk , psma-car.tnk , cd123-car.tnk , and other car.tnks for the treatment of hematological malignancies as well as solid tumors . both companies will jointly own and share development costs and revenues from any developed car.tnk products . in connection with this agreement we entered into a subscription and investment agreement with conkwest , as amended , pursuant to which conkwest issued and sold to us an aggregate of 3,034,473 shares of conkwest class a common stock for an aggregate purchase price of $ 10.0 million representing an equity stake in conkwest of approximately 9 % . related party agreements with wholly-owned subsidiary ark animal health , inc. license and development agreement . story_separator_special_tag cost of revenues relate to sales and services costs totaling $ 4. the costs generally include employee-related expenses including salary and benefits , direct materials and overhead costs including rent , depreciation , utilities , facility maintenance and insurance . research and development expenses . research and development expenses for the years ended december 31 , 2013 and 2012 were $ 9,017 and $ 3,830 , respectively . research and development expenses include the costs to identify , isolate and advance human antibody drug candidates derived from our libraries , costs to initiate and or conduct our bioequivalence , or be , registration trial related to cynviloq and prepare for our new drug application filing anticipated in 2015 , preclinical testing expenses and the expenses associated with fulfilling our development obligations related to the nih grant awards , collectively the nih grants . such expenses consist primarily of salaries and personnel related expenses , stock-based compensation expense , preclinical testing , clinical development expenses , laboratory supplies , consulting costs , depreciation and other expenses . the increase of $ 5,187 is primarily attributable to salaries and compensation related expense , preclinical testing , depreciation , consulting and lab supply costs incurred in connection with our expanded research and development activities , our be registration trial and receipt of the two nih grant awards in july 2011 and june 2012 , respectively . acquired in-process research and development expenses . acquired in-process research and development expenses for the years ended december 31 , 2013 and 2012 were $ 5,986 and $ 0 , respectively . acquired in-process research and development expenses include : ( i ) the costs associated with entering into a termination and release agreement with opko whereby we terminated the opko license in its entirety , ( ii ) the purchase price of tocosol , and ( iii ) the purchase price of the license rights to rtx . general and administrative expenses . general and administrative expenses for the years ended december 31 , 2013 and 2012 were $ 6,317 and $ 1,606 , respectively . general and administrative expenses consist primarily of salaries and personnel related expenses for executive , finance and administrative personnel , stock-based compensation expense , professional fees , infrastructure expenses , legal and accounting expenses and other general corporate expenses . the increase of $ 4,711 is primarily attributable to higher salaries and related compensation expenses , stock-based compensation , legal costs related general corporate and ip matters , consulting and business development expenses and higher compliance costs associated with our public reporting obligations . intangible amortization . intangible amortization for the years ended december 31 , 2013 and 2012 was $ 804 and $ 0 , respectively . the increase resulted primarily from the acquisition and amortization of intangible license rights from igdrasol , from the amortization of our exclusive irrevocable option agreement to acquire igdrasol , and from acquired technology and customer relationships from concortis . interest expense . interest expense for the years ended december 31 , 2013 and 2012 was $ 253 and $ 0 , respectively . the increase in interest expense resulted from borrowings under the equipment loan entered into in february 2013 and from borrowings under the loan and security agreement entered into in september 2013. interest income . interest income for the years ended december 31 , 2013 and 2012 was $ 10 and $ 7 , respectively . the increase in interest income resulted from higher average cash balances in 2013 as compared to 2012. we expect that continued low interest rates will significantly limit our interest income in the near term . net loss . net loss for the years ended december 31 , 2013 and 2012 was $ 21,911 and $ 4,845 , respectively . the increase in net loss is mainly attributable to the expanded research and development , in-process research and development , and general and administrative activities . 57 story_separator_special_tag ratios that may restrict our ability to operate our business . critical accounting policies our consolidated financial statements are prepared in accordance with generally accepted accounting principles . the preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses and related disclosures . we evaluate our estimates and assumptions on an ongoing basis . our estimates are based on historical experience and various other assumptions that we believe to be reasonable under the circumstances . our actual results could differ from these estimates . we believe the following accounting policies and estimates are most critical to aid in understanding and evaluating our reported financial results . cash and cash equivalents . we consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents . we minimize our credit risk associated with cash and cash equivalents by periodically evaluating the credit quality of our primary financial institution . the balance at times may exceed federally insured limits . as of december 31 , 2014 , we have not experienced any losses on such accounts . stock-based compensation . we account for stock-based compensation in accordance with authoritative guidance for stock-based compensation , which requires us to measure the cost of employee services received in exchange for equity incentive awards , including stock options , based on the grant date fair value of the award . the fair value is estimated using the black-scholes option pricing model . the resulting cost is recognized over the period during which the employee is required to provide services in exchange for the award , which is usually the vesting period . we recognize compensation expense over the vesting period using the straight-line method and classify these amounts in the consolidated statements of operations based on the department to which the related employee reports . to the extent that we issue future stock incentive awards to employees , our stock-based

