and hoffmann-la roche inc. , collectively roche , $ 106.5 million from issuing shares of common stock in our ipo , $ 161.4 million was from the issuance of private securities and $ 12.0 million was from borrowings under a loan agreement . in 2013 , using proceeds from the roche license agreement , as described in more detail below , we repaid all outstanding borrowings under our loan agreement and paid an aggregate of $ 55.0 million in cash as partial consideration for the redemption of certain shares of our redeemable preferred stock . as of december 31 , 2015 , our consolidated cash , cash equivalents and marketable securities were $ 148.8 million , of which $ 1.0 million was held by chiasma ( israel ) ltd. , our wholly owned israeli subsidiary . 90 since inception , we have incurred significant operating losses . our net loss was $ 35.9 million for the year ended december 31 , 2015 , and $ 2.0 million for the year ended december 31 , 2014. as of december 31 , 2015 , we had an accumulated deficit of $ 117.4 million . we expect to continue to incur significant expenses and operating losses for at least the next several years as we continue to incur substantial expenses related to preparing for and proceeding with the commercial launch of octreotide capsules , if approved , additional clinical development of octreotide capsules and the development of additional product candidates . we expect to incur increasing operating losses over the next several years . these losses , combined with prior losses will continue to have an adverse effect on our cash resources , stockholders ' deficit and working capital . if we obtain regulatory approval of octreotide capsules and any future product candidates we may develop , we may incur significant sales , marketing , in-licensing and outsourced manufacturing expenses , as well as continued research and development expenses . in addition , we expect our research and development expenses to significantly increase in connection with our recently initiated phase 3 clinical trial for octreotide capsules for the treatment of acromegaly to support approval in the european union , clinical trials for octreotide capsules for the treatment of neuroendocrine tumors , or net , and other indications , and as we develop additional product candidates for our drug pipeline . because of the numerous risks and uncertainties associated with developing and commercializing pharmaceutical products , we are unable to predict the extent of any future losses or when we will become profitable , if at all . if approved , we anticipate commercial sales of octreotide capsules in mid-2016 at the earliest . until such time , if ever , as we can generate substantial product revenues , we expect to finance our cash needs through a combination of equity offerings , debt financings , as well as license and collaboration agreements with potential partners . we may be unable to raise capital when needed or on attractive terms , or to enter into collaborations agreements , which could force us to delay , limit , reduce or terminate our product development or future commercialization efforts . we will need to generate significant revenues to achieve profitability , which we may not be able to achieve . roche license agreement in december 2012 , we signed a license agreement with roche , which went into effect on january 2013. pursuant to the license agreement , we granted roche an exclusive , non-transferable license to all intellectual property related to octreotide capsules . under the terms of the license , roche obtained worldwide rights to research , develop , make , import , export , sell , market or distribute the commercial product . we retained certain responsibilities for research and development activities under a joint development plan . the agreement provided for an upfront payment to us of $ 65.0 million , future consideration of up to $ 530 million in development and commercial milestones and the right to receive tiered , double-digit royalties on net sales of octreotide capsules . during the year ended december 31 , 2013 , we received a total of $ 75.0 million from roche related to the license agreement , which included the upfront payment of $ 65.0 million and the first milestone payment of $ 10.0 million . we received an additional $ 10.0 million during january 2014 related to the second milestone payment . the two milestones were achieved during the year ended december 31 , 2013. during the year ended december 31 , 2013 , we recognized $ 73.1 million in revenue with $ 2.9 million recorded as deferred revenue and customer advances . during 2013 , we also received a payment of $ 1.0 million for reimbursement of certain research and development expenses for which the related costs had not yet been incurred and for which we recorded the amount as customer advances . in march 2013 , using proceeds from the roche license agreement , our board of directors approved the redemption of certain of our then outstanding shares of redeemable preferred stock . in consideration of this redemption , the holders of these shares received a cash payment of $ 55.0 million plus the issuance of newly authorized shares of preferred stock . 91 in april 2014 , we entered into an additional agreement with roche pursuant to which we were to receive an additional aggregate amount of $ 2.7 million , payable in three installments , covering certain development costs incurred by us . during 2014 , we received the first installment of $ 1.3 million . in july 2014 , roche terminated the license agreement and the april 2014 agreement . upon termination , roche returned all rights granted under the agreements . story_separator_special_tag we did not hold any mortgage asset-backed or auction-rate securities in our investment portfolio as of december 31 , 2015. our israeli subsidiary held $ 1.0 million of cash as of december 31 , 2015. all of our cash held outside of the united states is available for corporate use . plan of operations and future funding requirements our primary uses of capital are , and we expect will continue to be , seeking regulatory approval of octreotide capsules and preparation for commercial launch of octreotide capsules in the united states , if approved , manufacturing of octreotide capsules for market consumption and clinical trial uses , clinical trial costs ( including an additional phase 3 clinical trial to support european regulatory approval ) , compensation and related expenses , third-party clinical and nonclinical research and development services , laboratory and related supplies , legal and other regulatory expenses , and other general operating costs . we expect that our cash , cash equivalents and marketable securities as of december 31 , 2015 will fund our planned operating expenses and capital expenditure requirements through at least mid-2017 . during this period , we expect to seek regulatory approval for octreotide capsules in acromegaly in the united states and , if granted ; launch octreotide capsules in the united states ; initiate an additional phase 3 clinical trial of octreotide capsules to treat acromegaly to support european regulatory approval ; continue clinical development plans for the use of octreotide capsules in other indications , including net ; and conduct additional nonclinical studies to expand our product pipeline . we have based these estimates on assumptions that may prove to be wrong , and we could use our capital resources sooner than we currently expect . additionally , the process of testing product candidates in clinical trials is costly , and the timing of progress in these trials is uncertain . because our octreotide capsules and potential product candidates are in various stages of clinical and nonclinical development and the outcome of these efforts is uncertain , we can not estimate the actual amounts necessary to successfully complete the development and commercialization of octreotide capsules and any other product candidates we may develop or whether , or when , we may achieve profitability . our future capital requirements will depend on many factors , including : the costs and timing of future commercialization activities , including product manufacturing , marketing , sales and distribution , for octreotide capsules and any other future product candidates for which we receive marketing approval ; the costs , timing and outcome of regulatory review of octreotide capsules and any future product candidates ; proceeds , if any , received from commercial sales of octreotide capsules and any future product candidates for which we receive marketing approval ; the progress and results of our clinical trials of octreotide capsules ; the scope , progress , results , and costs of nonclinical development , laboratory testing and clinical trials for future product candidates we may develop ; the number and development requirements of other product candidates that we pursue ; the costs and timing of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending any intellectual property-related claims ; and the extent to which we acquire or in-license other products and technologies . 97 until such time , if ever , as we can generate substantial product sales , we expect to finance our cash needs through a combination of equity offerings , debt financings and license and collaboration arrangements . we are not currently eligible to file a shelf registration statement ; however , we believe that shelf registration statements can contribute , when used , to greater financing flexibility . to that end , we plan to file a shelf registration statement on form s-3 with the sec once we are eligible to do so . to the extent that we raise additional capital through future issuance of equity or debt , the ownership interest of our stockholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our existing common stockholders . if we raise additional funds through collaboration arrangements , we may have to relinquish valuable rights to our technologies , future revenue streams or drug candidates on terms that may not be favorable to us . if we are unable to raise additional funds through equity or debt financings when needed , we may be required to delay , limit , reduce or terminate our product development or future commercialization efforts or grant rights to develop and market product candidates that we would otherwise prefer to develop and market ourselves . story_separator_special_tag margin-bottom:0pt ; font-size:10pt ; font-family : times new roman `` > at the inception of a license agreement , we evaluate whether each milestone is substantive on the basis of the contingent nature of the milestone . this evaluation includes an assessment of whether : ( a ) the consideration is commensurate with either our performance to achieve the milestone or the enhancement of the value of the delivered items as a result of a specific outcome from our performance to achieve the milestone ; ( b ) the consideration relates solely to past performance ; and ( c ) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement . in making this assessment , we evaluate factors such as the clinical , regulatory , commercial and other risks that must be overcome to achieve the respective milestone , the level of effort and investment required , and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement . we recognize revenues related to substantive milestones in full in the period in which the substantive milestone is achieved . we recognize royalty revenue , if any , based

cash flows the following is a summary of cash flows for the years ended december 31 , 2015 and 2014 : replace_table_token_6_th operating activities net cash used in operating activities was $ 33.3 million in 2015 , and primarily consisted of $ 35.9 million in net loss , adjusted for non-cash items of $ 3.8 million ( primarily stock-based compensation and imputed interest related to our roche liability ) and was offset by working capital increases of $ 1.2 million . net cash used in operating activities was $ 6.4 million in 2014 , and primarily consisted of $ 2.0 million in net loss , adjusted for non-cash items of $ 1.1 million ( primarily stock-based compensation and depreciation ) and was offset by working capital increases of $ 5.5 million primarily decreases in current liabilities . the increase in our cash used was driven by increased activities related to filing of an nda for octreotide capsules in acromegaly in the united states , activities associated with the manufacturing process validation , increased financial consulting cost , compensation related expenses associated with our expanding us office as well as increased professional service fees . investing activities net cash used in investing activities was $ 109.1 million for the year ended december 31 , 2015 , compared to cash provided by investment activities of $ 85,000 for the year ended december 31 , 2014. the increase in cash used in investing activities in 2015 as compared to the prior year was primarily the result of the investment of our ipo funds through the acquisition of marketable securities . financing activities net cash provided by financing activities during the year ended december 31 , 2015 of $ 143.3 million was mainly due to proceeds from our ipo and the issuance of the second tranche of our series e redeemable convertible preferred stock together with common stock warrants , compared to cash provided by financing activities of $ 33.6 million for the year ended december 31 , 2014 resulting from the issuance of the first tranche of our series e redeemable convertible preferred stock and common stock warrants .


 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 is a summary of cash flows for the years ended december 31 , 2015 and 2014 : replace_table_token_6_th operating activities net cash used in operating activities was $ 33.3 million in 2015 , and primarily consisted of $ 35.9 million in net loss , adjusted for non-cash items of $ 3.8 million ( primarily stock-based compensation and imputed interest related to our roche liability ) and was offset by working capital increases of $ 1.2 million . net cash used in operating activities was $ 6.4 million in 2014 , and primarily consisted of $ 2.0 million in net loss , adjusted for non-cash items of $ 1.1 million ( primarily stock-based compensation and depreciation ) and was offset by working capital increases of $ 5.5 million primarily decreases in current liabilities . the increase in our cash used was driven by increased activities related to filing of an nda for octreotide capsules in acromegaly in the united states , activities associated with the manufacturing process validation , increased financial consulting cost , compensation related expenses associated with our expanding us office as well as increased professional service fees . investing activities net cash used in investing activities was $ 109.1 million for the year ended december 31 , 2015 , compared to cash provided by investment activities of $ 85,000 for the year ended december 31 , 2014. the increase in cash used in investing activities in 2015 as compared to the prior year was primarily the result of the investment of our ipo funds through the acquisition of marketable securities . financing activities net cash provided by financing activities during the year ended december 31 , 2015 of $ 143.3 million was mainly due to proceeds from our ipo and the issuance of the second tranche of our series e redeemable convertible preferred stock together with common stock warrants , compared to cash provided by financing activities of $ 33.6 million for the year ended december 31 , 2014 resulting from the issuance of the first tranche of our series e redeemable convertible preferred stock and common stock warrants .
```    
 Suspicious Activity Report : and hoffmann-la roche inc. , collectively roche , $ 106.5 million from issuing shares of common stock in our ipo , $ 161.4 million was from the issuance of private securities and $ 12.0 million was from borrowings under a loan agreement . in 2013 , using proceeds from the roche license agreement , as described in more detail below , we repaid all outstanding borrowings under our loan agreement and paid an aggregate of $ 55.0 million in cash as partial consideration for the redemption of certain shares of our redeemable preferred stock . as of december 31 , 2015 , our consolidated cash , cash equivalents and marketable securities were $ 148.8 million , of which $ 1.0 million was held by chiasma ( israel ) ltd. , our wholly owned israeli subsidiary . 90 since inception , we have incurred significant operating losses . our net loss was $ 35.9 million for the year ended december 31 , 2015 , and $ 2.0 million for the year ended december 31 , 2014. as of december 31 , 2015 , we had an accumulated deficit of $ 117.4 million . we expect to continue to incur significant expenses and operating losses for at least the next several years as we continue to incur substantial expenses related to preparing for and proceeding with the commercial launch of octreotide capsules , if approved , additional clinical development of octreotide capsules and the development of additional product candidates . we expect to incur increasing operating losses over the next several years . these losses , combined with prior losses will continue to have an adverse effect on our cash resources , stockholders ' deficit and working capital . if we obtain regulatory approval of octreotide capsules and any future product candidates we may develop , we may incur significant sales , marketing , in-licensing and outsourced manufacturing expenses , as well as continued research and development expenses . in addition , we expect our research and development expenses to significantly increase in connection with our recently initiated phase 3 clinical trial for octreotide capsules for the treatment of acromegaly to support approval in the european union , clinical trials for octreotide capsules for the treatment of neuroendocrine tumors , or net , and other indications , and as we develop additional product candidates for our drug pipeline . because of the numerous risks and uncertainties associated with developing and commercializing pharmaceutical products , we are unable to predict the extent of any future losses or when we will become profitable , if at all . if approved , we anticipate commercial sales of octreotide capsules in mid-2016 at the earliest . until such time , if ever , as we can generate substantial product revenues , we expect to finance our cash needs through a combination of equity offerings , debt financings , as well as license and collaboration agreements with potential partners . we may be unable to raise capital when needed or on attractive terms , or to enter into collaborations agreements , which could force us to delay , limit , reduce or terminate our product development or future commercialization efforts . we will need to generate significant revenues to achieve profitability , which we may not be able to achieve . roche license agreement in december 2012 , we signed a license agreement with roche , which went into effect on january 2013. pursuant to the license agreement , we granted roche an exclusive , non-transferable license to all intellectual property related to octreotide capsules . under the terms of the license , roche obtained worldwide rights to research , develop , make , import , export , sell , market or distribute the commercial product . we retained certain responsibilities for research and development activities under a joint development plan . the agreement provided for an upfront payment to us of $ 65.0 million , future consideration of up to $ 530 million in development and commercial milestones and the right to receive tiered , double-digit royalties on net sales of octreotide capsules . during the year ended december 31 , 2013 , we received a total of $ 75.0 million from roche related to the license agreement , which included the upfront payment of $ 65.0 million and the first milestone payment of $ 10.0 million . we received an additional $ 10.0 million during january 2014 related to the second milestone payment . the two milestones were achieved during the year ended december 31 , 2013. during the year ended december 31 , 2013 , we recognized $ 73.1 million in revenue with $ 2.9 million recorded as deferred revenue and customer advances . during 2013 , we also received a payment of $ 1.0 million for reimbursement of certain research and development expenses for which the related costs had not yet been incurred and for which we recorded the amount as customer advances . in march 2013 , using proceeds from the roche license agreement , our board of directors approved the redemption of certain of our then outstanding shares of redeemable preferred stock . in consideration of this redemption , the holders of these shares received a cash payment of $ 55.0 million plus the issuance of newly authorized shares of preferred stock . 91 in april 2014 , we entered into an additional agreement with roche pursuant to which we were to receive an additional aggregate amount of $ 2.7 million , payable in three installments , covering certain development costs incurred by us . during 2014 , we received the first installment of $ 1.3 million . in july 2014 , roche terminated the license agreement and the april 2014 agreement . upon termination , roche returned all rights granted under the agreements . story_separator_special_tag we did not hold any mortgage asset-backed or auction-rate securities in our investment portfolio as of december 31 , 2015. our israeli subsidiary held $ 1.0 million of cash as of december 31 , 2015. all of our cash held outside of the united states is available for corporate use . plan of operations and future funding requirements our primary uses of capital are , and we expect will continue to be , seeking regulatory approval of octreotide capsules and preparation for commercial launch of octreotide capsules in the united states , if approved , manufacturing of octreotide capsules for market consumption and clinical trial uses , clinical trial costs ( including an additional phase 3 clinical trial to support european regulatory approval ) , compensation and related expenses , third-party clinical and nonclinical research and development services , laboratory and related supplies , legal and other regulatory expenses , and other general operating costs . we expect that our cash , cash equivalents and marketable securities as of december 31 , 2015 will fund our planned operating expenses and capital expenditure requirements through at least mid-2017 . during this period , we expect to seek regulatory approval for octreotide capsules in acromegaly in the united states and , if granted ; launch octreotide capsules in the united states ; initiate an additional phase 3 clinical trial of octreotide capsules to treat acromegaly to support european regulatory approval ; continue clinical development plans for the use of octreotide capsules in other indications , including net ; and conduct additional nonclinical studies to expand our product pipeline . we have based these estimates on assumptions that may prove to be wrong , and we could use our capital resources sooner than we currently expect . additionally , the process of testing product candidates in clinical trials is costly , and the timing of progress in these trials is uncertain . because our octreotide capsules and potential product candidates are in various stages of clinical and nonclinical development and the outcome of these efforts is uncertain , we can not estimate the actual amounts necessary to successfully complete the development and commercialization of octreotide capsules and any other product candidates we may develop or whether , or when , we may achieve profitability . our future capital requirements will depend on many factors , including : the costs and timing of future commercialization activities , including product manufacturing , marketing , sales and distribution , for octreotide capsules and any other future product candidates for which we receive marketing approval ; the costs , timing and outcome of regulatory review of octreotide capsules and any future product candidates ; proceeds , if any , received from commercial sales of octreotide capsules and any future product candidates for which we receive marketing approval ; the progress and results of our clinical trials of octreotide capsules ; the scope , progress , results , and costs of nonclinical development , laboratory testing and clinical trials for future product candidates we may develop ; the number and development requirements of other product candidates that we pursue ; the costs and timing of preparing , filing and prosecuting patent applications , maintaining and enforcing our intellectual property rights and defending any intellectual property-related claims ; and the extent to which we acquire or in-license other products and technologies . 97 until such time , if ever , as we can generate substantial product sales , we expect to finance our cash needs through a combination of equity offerings , debt financings and license and collaboration arrangements . we are not currently eligible to file a shelf registration statement ; however , we believe that shelf registration statements can contribute , when used , to greater financing flexibility . to that end , we plan to file a shelf registration statement on form s-3 with the sec once we are eligible to do so . to the extent that we raise additional capital through future issuance of equity or debt , the ownership interest of our stockholders will be diluted , and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our existing common stockholders . if we raise additional funds through collaboration arrangements , we may have to relinquish valuable rights to our technologies , future revenue streams or drug candidates on terms that may not be favorable to us . if we are unable to raise additional funds through equity or debt financings when needed , we may be required to delay , limit , reduce or terminate our product development or future commercialization efforts or grant rights to develop and market product candidates that we would otherwise prefer to develop and market ourselves . story_separator_special_tag margin-bottom:0pt ; font-size:10pt ; font-family : times new roman `` > at the inception of a license agreement , we evaluate whether each milestone is substantive on the basis of the contingent nature of the milestone . this evaluation includes an assessment of whether : ( a ) the consideration is commensurate with either our performance to achieve the milestone or the enhancement of the value of the delivered items as a result of a specific outcome from our performance to achieve the milestone ; ( b ) the consideration relates solely to past performance ; and ( c ) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement . in making this assessment , we evaluate factors such as the clinical , regulatory , commercial and other risks that must be overcome to achieve the respective milestone , the level of effort and investment required , and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement . we recognize revenues related to substantive milestones in full in the period in which the substantive milestone is achieved . we recognize royalty revenue , if any , based

