we also have collaborations for our adc technology with a number of biotechnology and pharmaceutical companies , including abbvie biotechnology ltd. ( formerly part of abbott laboratories ) , or abbvie ; bayer pharma ag , or bayer ; celldex therapeutics , inc. , or celldex ; daiichi sankyo co. , ltd. , or daiichi sankyo ; genentech , inc. , a member of the roche group , or genentech ; glaxosmithkline llc , or gsk ; pfizer , inc. , or pfizer , psma development company llc , a subsidiary of progenics pharmaceuticals inc. , or progenics ; and takeda ; as well as adc co-development agreements with agensys , inc. , an affiliate of astellas pharma , inc. , or agensys , genmab a/s , or genmab , and oxford biotherapeutics ltd. , or obt . 48 the commercial potential of adcetris and the ability to realize that potential by us and takeda remains uncertain . our success in effectively commercializing adcetris will continue to require , among other things , effective sales , marketing , manufacturing , distribution , information systems and pricing strategies , our ability to demonstrate in the medical community the safety and efficacy of adcetris and its potential advantages , and our ability to comply with applicable laws and regulations . our success could be unfavorably impacted by adverse events or competition . the u.s. food and drug administration , or fda , granted accelerated approval of adcetris which means that we are , among other things , obligated to conduct specific post-approval clinical studies to confirm patient benefit as a condition of that approval . similarly , takeda is required to conduct post-approval confirmatory studies as a condition to the conditional marketing authorization of adcetris by the european commission and regulatory authorities in other countries . in addition , we currently expect that future adcetris sales growth , if any , will depend primarily on our ability to expand adcetris ' labeled indications of use . accordingly , we are exploring the use of adcetris in earlier lines of therapy in patients with hodgkin lymphoma and mtcl , and in other cd30-positive malignancies . in order to do this , we are required to conduct additional extensive clinical studies and , if these studies are successful , we intend to seek additional regulatory approvals . we and takeda are conducting four phase 3 clinical trials of adcetris , one in hodgkin lymphoma patients at high risk of relapse following autologous stem cell transplant , or asct , called the aethera trial , one in relapsed cutaneous t-cell lymphoma , or ctcl , called the alcanza trial , one in front-line advanced classical hodgkin lymphoma , called the echelon-1 trial , and one in front-line mtcl , including salcl , called the echelon-2 trial . based on current estimates of progression events from pooled , blinded data from the ongoing aethera trial , the aethera trial was amended to enable a time point-driven progression-free survival analysis after patients have completed all required scans , which is one year after the completion of treatment and which is anticipated to occur in the second half of 2014. the aethera trial is not being conducted under a special protocol assessment , or spa , agreement from the fda and has not been designated as a confirmatory trial to convert either accelerated approval or conditional marketing authorization to regular approval ; however , this trial will provide drug safety data analyses that fulfills one of our post-approval requirements with both the fda and the european medicines agency , or ema . we have entered into spa agreements with the fda for the alcanza , echelon-1 and echelon-2 clinical trials . an spa is an agreement with the fda regarding the design of the clinical trial , including size and clinical endpoints , to support an efficacy claim in a biologics license application , or bla , submission to the fda if the trial achieves its primary endpoints . the primary end point in the echelon-1 and echelon-2 trials is progression-free survival per independent review facility assessment in patients treated with adcetris compared to that achieved with therapy in the control arm . the primary endpoint in the alcanza trial is overall response rate , lasting at least four months , in patients treated with adcetris compared to that achieved with therapy in the control arm . we have an agreement with ventana medical systems , inc. , a member of the roche group , or ventana , under which ventana is working to develop , manufacture and commercialize a molecular companion diagnostic test with the goal of identifying patients who might respond to treatment with adcetris based on cd30 expression levels in their tissue specimens . a molecular companion diagnostic is not required for the current approved indications for adcetris ; however , we are utilizing a molecular companion diagnostic to screen patients for inclusion in our echelon-2 and alcanza trials , and we expect that a molecular companion diagnostic may be required by regulatory authorities to support regulatory approval of adcetris in other cd30-positive malignancies . all of these activities will require substantial amounts of capital and may not ultimately prove successful . our product candidates are in relatively early stages of development . these product candidates will require significant further development , financial resources and personnel to obtain regulatory approval and develop into commercially viable products , if at all . accordingly , over the next several years , we expect that we will incur substantial expenses , primarily as a result of activities related to the commercialization and continued development of adcetris . we will also continue to invest in research , development and manufacturing of our product candidates . story_separator_special_tag examples of estimated accrued liabilities include fees due to contract research organizations and other costs in conjunction with clinical trials , fees due in conjunction with manufacturing adcetris and 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 . research and development . research and development expenses consist of salaries , benefits and other headcount related costs of our research and development staff , preclinical activities , clinical trials , lab supplies , drug manufacturing costs for our product candidates , and for adcetris when used in research and clinical trials , contract and outside service fees and facilities and overhead expenses . clinical trial expenses are a significant component of research and development expenses , and we outsource a significant portion of these costs to third parties . our third party clinical trial expenses include investigator fees , site costs , clinical research organization costs , and costs for central laboratory testing and data management . research and development activities are expensed as incurred . costs associated with activities performed under research and development co-development collaborations are reflected in research and development expense . non-refundable advance payments for goods or services that will be used or rendered for future research and development activities are capitalized and recognized as expense as the related goods are delivered or the related services are performed . technology in-licensing fees , including milestones and maintenance fees , and other costs to acquire technologies for product candidates that have not yet received regulatory approval that are utilized in research and development and that are not expected to have alternative future use are expensed when incurred . share-based compensation . share-based compensation cost is based on the fair value of the award on the date of grant . we use the black-scholes option pricing model to determine the fair value of options on the date of grant which requires certain estimates to be made by management , including the expected forfeiture rate and expected term of the options . we also make decisions regarding the method of calculating the expected stock price volatility and the risk free interest rate used in the model . fluctuations that affect these estimates could have an impact on the resulting compensation cost . we charge this estimated fair value to expense over the vesting period of the arrangement using the graded-vesting attribution method for stock options which vest ratably over the vesting period . the fair value of each restricted stock unit , or rsu , equals the closing price of our common stock on the date of grant . rsus granted to date vest 100 % at a single point in time , generally on the two-year or three-year anniversary of the grant date . we therefore amortize the value of rsus , net of estimated forfeitures , to expense on a straight-line basis over the vesting period of the award . we began issuing rsus in 2011. 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 assets will not be realized . we believe that a full 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 deferred tax asset would be made , a portion of which would increase income ( or decrease losses ) in the period in which such a determination was made . inventories . we consider regulatory approval of product candidates to be uncertain . accordingly , we charge manufacturing costs to research and development expense until such time as a product has received 54 regulatory approval for commercial sale . we began capitalizing adcetris production costs into inventory following its accelerated approval by the fda in august 2011. adcetris inventory that is deployed into clinical , research or development use is charged to research and development expense when it is no longer available for use in commercial sales . production costs for our other product candidates continue to be charged to research and development expense . we value our inventories at the lower of cost or market value . cost is determined on a specific identification basis . inventory includes the cost of materials , third-party contract manufacturing and overhead associated with the production of adcetris . we would write-down inventory cost to net realizable value if we were to determine that we had any excess , obsolete or unsalable inventory . on an ongoing basis , we evaluate our estimates , including those related to revenue recognition , investments , accrued expenses , research and development , share-based compensation , income taxes and inventories . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances , the results of which form our basis for making judgments about the carrying values of assets and

liquidity and capital resources replace_table_token_13_th net cash used in operating activities was $ 1.1 million during 2013 compared to $ 10.9 million provided by operating activities during 2012. this change resulted from our increased net loss in 2013 and working capital fluctuations , particularly fluctuations resulting from payments received in advance of collaboration and license agreement revenue recognition . the change in net cash provided by ( used in ) operating activities in 2012 as compared to 2011 reflects a reduction in our net loss , cash collected from sales of adcetris and amounts received from our product and adc collaborations . net cash used in investing activities decreased during 2013 compared to 2012 reflecting higher amounts of cash invested during 2012 , partially offset by an increase in the costs incurred in 2013 for tenant improvements and laboratory equipment as we expanded our facilities . cash flow from investment activities also reflects sales and maturities of investment securities . net cash provided by ( used in ) investing activities increased during 2012 compared to 2011 reflecting higher amounts of cash invested during 2012 , and an increase in the cost incurred in 2011 for technology access fees related to adcetris . investing activities primarily reflect the investment of cash and sales and maturities of those investments . net cash provided by financing activities resulted from the proceeds of stock option exercises and our employee stock purchase plan . net cash provided by financing activities in 2011 also includes proceeds from an underwritten public offering of common stock . we have financed the majority of our operations through the issuance of equity securities , by amounts received pursuant to product collaborations , our adc collaborations and , more recently , through collections from commercial sales of adcetris . to a lesser degree , we have also financed our operations through royalty revenues and interest earned on cash , cash equivalents and investment securities .


 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_13_th net cash used in operating activities was $ 1.1 million during 2013 compared to $ 10.9 million provided by operating activities during 2012. this change resulted from our increased net loss in 2013 and working capital fluctuations , particularly fluctuations resulting from payments received in advance of collaboration and license agreement revenue recognition . the change in net cash provided by ( used in ) operating activities in 2012 as compared to 2011 reflects a reduction in our net loss , cash collected from sales of adcetris and amounts received from our product and adc collaborations . net cash used in investing activities decreased during 2013 compared to 2012 reflecting higher amounts of cash invested during 2012 , partially offset by an increase in the costs incurred in 2013 for tenant improvements and laboratory equipment as we expanded our facilities . cash flow from investment activities also reflects sales and maturities of investment securities . net cash provided by ( used in ) investing activities increased during 2012 compared to 2011 reflecting higher amounts of cash invested during 2012 , and an increase in the cost incurred in 2011 for technology access fees related to adcetris . investing activities primarily reflect the investment of cash and sales and maturities of those investments . net cash provided by financing activities resulted from the proceeds of stock option exercises and our employee stock purchase plan . net cash provided by financing activities in 2011 also includes proceeds from an underwritten public offering of common stock . we have financed the majority of our operations through the issuance of equity securities , by amounts received pursuant to product collaborations , our adc collaborations and , more recently , through collections from commercial sales of adcetris . to a lesser degree , we have also financed our operations through royalty revenues and interest earned on cash , cash equivalents and investment securities .
```    
 Suspicious Activity Report : we also have collaborations for our adc technology with a number of biotechnology and pharmaceutical companies , including abbvie biotechnology ltd. ( formerly part of abbott laboratories ) , or abbvie ; bayer pharma ag , or bayer ; celldex therapeutics , inc. , or celldex ; daiichi sankyo co. , ltd. , or daiichi sankyo ; genentech , inc. , a member of the roche group , or genentech ; glaxosmithkline llc , or gsk ; pfizer , inc. , or pfizer , psma development company llc , a subsidiary of progenics pharmaceuticals inc. , or progenics ; and takeda ; as well as adc co-development agreements with agensys , inc. , an affiliate of astellas pharma , inc. , or agensys , genmab a/s , or genmab , and oxford biotherapeutics ltd. , or obt . 48 the commercial potential of adcetris and the ability to realize that potential by us and takeda remains uncertain . our success in effectively commercializing adcetris will continue to require , among other things , effective sales , marketing , manufacturing , distribution , information systems and pricing strategies , our ability to demonstrate in the medical community the safety and efficacy of adcetris and its potential advantages , and our ability to comply with applicable laws and regulations . our success could be unfavorably impacted by adverse events or competition . the u.s. food and drug administration , or fda , granted accelerated approval of adcetris which means that we are , among other things , obligated to conduct specific post-approval clinical studies to confirm patient benefit as a condition of that approval . similarly , takeda is required to conduct post-approval confirmatory studies as a condition to the conditional marketing authorization of adcetris by the european commission and regulatory authorities in other countries . in addition , we currently expect that future adcetris sales growth , if any , will depend primarily on our ability to expand adcetris ' labeled indications of use . accordingly , we are exploring the use of adcetris in earlier lines of therapy in patients with hodgkin lymphoma and mtcl , and in other cd30-positive malignancies . in order to do this , we are required to conduct additional extensive clinical studies and , if these studies are successful , we intend to seek additional regulatory approvals . we and takeda are conducting four phase 3 clinical trials of adcetris , one in hodgkin lymphoma patients at high risk of relapse following autologous stem cell transplant , or asct , called the aethera trial , one in relapsed cutaneous t-cell lymphoma , or ctcl , called the alcanza trial , one in front-line advanced classical hodgkin lymphoma , called the echelon-1 trial , and one in front-line mtcl , including salcl , called the echelon-2 trial . based on current estimates of progression events from pooled , blinded data from the ongoing aethera trial , the aethera trial was amended to enable a time point-driven progression-free survival analysis after patients have completed all required scans , which is one year after the completion of treatment and which is anticipated to occur in the second half of 2014. the aethera trial is not being conducted under a special protocol assessment , or spa , agreement from the fda and has not been designated as a confirmatory trial to convert either accelerated approval or conditional marketing authorization to regular approval ; however , this trial will provide drug safety data analyses that fulfills one of our post-approval requirements with both the fda and the european medicines agency , or ema . we have entered into spa agreements with the fda for the alcanza , echelon-1 and echelon-2 clinical trials . an spa is an agreement with the fda regarding the design of the clinical trial , including size and clinical endpoints , to support an efficacy claim in a biologics license application , or bla , submission to the fda if the trial achieves its primary endpoints . the primary end point in the echelon-1 and echelon-2 trials is progression-free survival per independent review facility assessment in patients treated with adcetris compared to that achieved with therapy in the control arm . the primary endpoint in the alcanza trial is overall response rate , lasting at least four months , in patients treated with adcetris compared to that achieved with therapy in the control arm . we have an agreement with ventana medical systems , inc. , a member of the roche group , or ventana , under which ventana is working to develop , manufacture and commercialize a molecular companion diagnostic test with the goal of identifying patients who might respond to treatment with adcetris based on cd30 expression levels in their tissue specimens . a molecular companion diagnostic is not required for the current approved indications for adcetris ; however , we are utilizing a molecular companion diagnostic to screen patients for inclusion in our echelon-2 and alcanza trials , and we expect that a molecular companion diagnostic may be required by regulatory authorities to support regulatory approval of adcetris in other cd30-positive malignancies . all of these activities will require substantial amounts of capital and may not ultimately prove successful . our product candidates are in relatively early stages of development . these product candidates will require significant further development , financial resources and personnel to obtain regulatory approval and develop into commercially viable products , if at all . accordingly , over the next several years , we expect that we will incur substantial expenses , primarily as a result of activities related to the commercialization and continued development of adcetris . we will also continue to invest in research , development and manufacturing of our product candidates . story_separator_special_tag examples of estimated accrued liabilities include fees due to contract research organizations and other costs in conjunction with clinical trials , fees due in conjunction with manufacturing adcetris and 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 . research and development . research and development expenses consist of salaries , benefits and other headcount related costs of our research and development staff , preclinical activities , clinical trials , lab supplies , drug manufacturing costs for our product candidates , and for adcetris when used in research and clinical trials , contract and outside service fees and facilities and overhead expenses . clinical trial expenses are a significant component of research and development expenses , and we outsource a significant portion of these costs to third parties . our third party clinical trial expenses include investigator fees , site costs , clinical research organization costs , and costs for central laboratory testing and data management . research and development activities are expensed as incurred . costs associated with activities performed under research and development co-development collaborations are reflected in research and development expense . non-refundable advance payments for goods or services that will be used or rendered for future research and development activities are capitalized and recognized as expense as the related goods are delivered or the related services are performed . technology in-licensing fees , including milestones and maintenance fees , and other costs to acquire technologies for product candidates that have not yet received regulatory approval that are utilized in research and development and that are not expected to have alternative future use are expensed when incurred . share-based compensation . share-based compensation cost is based on the fair value of the award on the date of grant . we use the black-scholes option pricing model to determine the fair value of options on the date of grant which requires certain estimates to be made by management , including the expected forfeiture rate and expected term of the options . we also make decisions regarding the method of calculating the expected stock price volatility and the risk free interest rate used in the model . fluctuations that affect these estimates could have an impact on the resulting compensation cost . we charge this estimated fair value to expense over the vesting period of the arrangement using the graded-vesting attribution method for stock options which vest ratably over the vesting period . the fair value of each restricted stock unit , or rsu , equals the closing price of our common stock on the date of grant . rsus granted to date vest 100 % at a single point in time , generally on the two-year or three-year anniversary of the grant date . we therefore amortize the value of rsus , net of estimated forfeitures , to expense on a straight-line basis over the vesting period of the award . we began issuing rsus in 2011. 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 assets will not be realized . we believe that a full 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 deferred tax asset would be made , a portion of which would increase income ( or decrease losses ) in the period in which such a determination was made . inventories . we consider regulatory approval of product candidates to be uncertain . accordingly , we charge manufacturing costs to research and development expense until such time as a product has received 54 regulatory approval for commercial sale . we began capitalizing adcetris production costs into inventory following its accelerated approval by the fda in august 2011. adcetris inventory that is deployed into clinical , research or development use is charged to research and development expense when it is no longer available for use in commercial sales . production costs for our other product candidates continue to be charged to research and development expense . we value our inventories at the lower of cost or market value . cost is determined on a specific identification basis . inventory includes the cost of materials , third-party contract manufacturing and overhead associated with the production of adcetris . we would write-down inventory cost to net realizable value if we were to determine that we had any excess , obsolete or unsalable inventory . on an ongoing basis , we evaluate our estimates , including those related to revenue recognition , investments , accrued expenses , research and development , share-based compensation , income taxes and inventories . we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances , the results of which form our basis for making judgments about the carrying values of assets and

