﻿ in 2019 , we completed a small , first-in-human , clinical-proof-of-concept , open-label phase 2a study of pti-125 in the u.s. , with substantial support from the national institute on aging ( nia ) , a division of the nih . treatment with pti-125 for 28 days significantly improved key biomarkers of alzheimer 's pathology , neurodegeneration and neuroinflammation ( p < 0.001 ) . biomarkers effects were seen in all patients in both csf and plasma . to our knowledge , no other drug candidate has improved an entire panel of biomarkers of in patients with alzheimer 's disease . ﻿ a confirmatory , randomized , placebo-controlled , multi-center phase 2b study of pti-125 in alzheimer 's disease is on-going as of march 2020. we expect to announce phase 2b results in approximately mid- 2020 . ﻿ our diagnostic effort , called savadx , is an early-stage program focused on detecting alzheimer 's disease from a small sample of blood , possibly years before the overt appearance of clinical symptoms . we are developing savadx as a fast , accurate and quantitative blood-based investigational biomarker/diagnostic to detect and monitor alzheimer 's disease . t he goal is to make the detection of alzheimer 's disease as simple as getting a blood test . ﻿ alzheimer 's disease is a progressive neurodegenerative disorder that affects cognition , function and behavior . an estimated 5.8 million americans are living with alzheimer 's disease in 20 20 , according to the alzheimer 's association , a non-profit organization . t here are no disease -modifying drug therapies to treat the disease . 63 ﻿ pti-125 and savadx were both discovered and designed in-house and were characterized by our academic collaborators during research activities that were conducted from approximately 2008 to date . we own exclusive , worldwide rights to these drug assets and related technologies , without royalty obligations to any third party . our patent protection in this area currently runs through 2034 . ﻿ financial overview ﻿ we have yet to generate any revenues from product sales . we have an accumulated deficit of $ 168.6 million at december 31 , 2019. these losses have resulted principally from costs incurred in connection with research and development activities , salaries and other personnel-related costs and general corporate expenses . research and development activities include costs of preclinical and clinical studies as well as clinical supplies associated with our product candidates . salaries and other personnel-related costs include non-cash stock-based compensation associated with options and other equity awards granted to employees and non-employees . our operating results may fluctuate substantially from period to period as a result of the timing of preclinical activities , enrollment rates of clinical studies for our product candidates and our need for clinical supplies . ﻿ we believe that our cash and cash equivalents at december 31 , 2019 , will enable us to fund our operating expenses for at least the next 12 months . in addition , we may seek in the future to fund our operations through additional public or private equity or debt financings or other sources . however , we may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . if we are unable to obtain financing or reach profitability , the related lack of liquidity will have a material adverse effect on our operations and future prospects . ﻿ we expect to continue to use significant cash resources in our operations for the next several years . our cash requirements for operating activities and capital expenditures may increase substantially in the future as we : ﻿ · conduct preclinical and clinical studies for our product candidates ; ﻿ · seek regulatory approvals for our product candidates ; ﻿ · develop , formulate , manufacture and commercialize our product candidates ; ﻿ · implement additional internal systems and develop new infrastructure ; ﻿ · acquire or in-license additional products or technologies , or expand the use of our technology ; ﻿ · maintain , defend and expand the scope of our intellectual property ; and ﻿ · hire additional personnel . ﻿ product revenue will depend on our ability to receive regulatory approvals for , and successfully market , our product candidates . if our development efforts result in regulatory approval and successful commercialization of our product candidates , we will generate revenue from direct sales of our drugs and or , if we license our drugs to future collaborators , from the receipt of license fees and royalties from sales of licensed products . we conduct our research and development programs through a combination of internal and collaborative programs . we rely on arrangements with universities , our collaborators , cros and clinical research sites for a significant portion of our product development efforts . ﻿ 64 the following table summarizes expenses which have been reduced for reimbursements received for nih grants ( in thousands ) : ﻿ ﻿ replace_table_token_1_th ﻿ research and development expenses include compensation , contractor fees and supplies as well as allocated common costs . contractor fees and supplies generally include expenses for preclinical studies and clinical studies and costs for formulation and manufacturing activities . other common costs include the allocation of common costs such as facilities . during the year ended december 31 , 2019 and 2018 , we received $ 4.7 million and $ 3.0 million from research grants from the nih . these reimbursements were recorded as a reduction to our research and development expenses . ﻿ our technology has been applied across certain of our portfolio of product candidates . story_separator_special_tag 2019-12 , income taxes ( topic 740 ) simplifying accounting for income taxes as part of its initiative to reduce complexity in the accounting standards . the guidance amended certain disclosure requirements that had become redundant , outdated or superseded . additionally , this guidance amends accounting for the interim period effects of changes in tax laws or rates , and simplifies aspects of the accounting for franchise taxes . the guidance is effective for annual periods beginning after december 15 , 2020 , and is applicable for the company in fiscal 2021. early adoption is permitted . the company does not anticipate that this guidance will have a material impact on its consolidated financial statements . 66 ﻿ in november 2018 , the fasb issued asu no . 2018-18 , collaborative arrangements ( topic 808 ) : clarifying the interaction between topic 808 and topic 606. the amendments in this update provide guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for within the revenue recognition standard . the amendments in this update are effective for interim and annual periods for the company beginning on january 1 , 2020. the company does not anticipate that this guidance will have a material impact on its consolidated financial statements . ﻿ in august 2018 , the fasb issued asu no . 2018-13 , fair value measurement ( topic 820 ) - disclosure framework - changes to the disclosure requirements for fair value measurement ( asu 2018-13 ) , which is designed to improve the effectiveness of disclosures by removing , modifying and adding disclosures related to fair value measurements . asu 2018-13 is effective for fiscal years beginning after december 15 , 2019 , including interim periods within those fiscal years . the company is currently evaluating the impact of asu 2018-13 on its consolidated financial statements . ﻿ results of operations ﻿ research and development expense ﻿ research and development expense consist primarily of costs of drug development work associated with our product candidates , including : ﻿ · preclinical testing , ﻿ · clinical studies , ﻿ · clinical supplies and related formulation and design costs , and ﻿ · compensation and other personnel-related expenses . ﻿ research and development expenses decreased to $ 1.6 million in 2019 from $ 3.0 million in 2018 , representing a 47 % decrease . this decrease was attributable to reimbursements of $ 4.7 million received from research grants in 2019 from the nih and recorded as a reduction to research and development expense , as compared to $ 3.0 million in recorded reimbursements in 2018 , and decreased non-cash stock-related compensation expenses of $ 0.5 million in 2019 compared to $ 1.0 million in 2018 , offset by $ 0.8 million in increased research and development expenses compared to the prior year due to costs incurred for our phase 2 clinical programs . ﻿ we expect research and development expense to fluctuate in future periods as we continue our development efforts . we expect our development efforts to result in our product candidates progressing through various stages of clinical studies . our research and development expenses may fluctuate from period to period due to the timing and scope of our development activities and the results of clinical studies and preclinical studies . ﻿ general and administrative expense ﻿ general and administrative expenses consist of personnel costs , allocated expenses and other expenses for outside professional services , including legal , human resources , audit and accounting services . personnel costs consist of salaries , bonus , benefits and stock-based compensation . allocated expenses consist primarily of facility costs . we incur expenses associated with operating as a public company , including expenses related to compliance with the rules and regulations of the sec and nasdaq , additional insurance expenses , additional audit expenses , investor relations activities , sox compliance expenses and other administrative expenses and professional services . general and administrative expense decreased to $ 3.4 million in 2019 from $ 3.7 million in 2018 , representing an 8 % decrease . this was due primarily to decreases in non-cash stock-based compensation expenses offsetting an increase in compensation costs from the hiring of a chief financial officer in october 2018 . ﻿ general and administrative expenses included non-cash stock-based compensation expenses of $ 0.8 million in 2019 compared to $ 1.4 million in 2018. we expect other general and administrative expense for 2020 will be consistent with 2019 . ﻿ 67 interest income ﻿ interest and other income , net , was $ 328,000 in 2019 compared to $ 105,000 in 2018. the increase was due primarily to higher cash balances from our august 2018 stock offering as well as fluctuations in interest rates . ﻿ story_separator_special_tag roman ; font-size : 10pt `` > 68 net cash used in operating activities was $ 2.5 million for 2019 , resulting primarily from a $ 4.6 million net loss incurred partially offset by $ 1.3 million of stock-based compensation expense and $ 0.8 million from changes in operating assets and liabilities . ﻿ net cash used in operating activities was $ 4.8 million for 2018 , resulting primarily from a $ 6.6 million net loss incurred partially offset by $ 2.4 million of stock-based compensation expense . net cash used in operating activities also included $ 0.7 million of cash used from changes in operating assets and liabilities . ﻿ cash used in investing activities was $ 18,000 for 2019 from purchases of computer equipment . there was no cash from investing activities in 2018 . ﻿ net cash provided by financing activities was $ 5.8 million consisting of $ 5.9 million proceeds from exercise of common stock warrants partially offset by $ 0.1 million in offering expenses related the 2018 sale of common stock and warrants . ﻿ net cash provided by financing activities was $ 14.1 million in 2018 consisting of net proceeds from the

liquidity and capital resources ﻿ since inception , we have financed our operations primarily through public and private stock offerings , payments received under collaborative agreements and interest earned on our investments . we intend to continue to use our capital resources to fund research and development activities , capital expenditures , working capital requirements and other general corporate purposes . as of december 31 , 2019 , cash and cash equivalents totaled $ 23.1 million . ﻿ 2018 registered direct offering ﻿ on august 17 , 2018 , we completed a common stock offering pursuant to which certain investors purchased 8.9 million shares of common stock and warrants at a price of $ 1.275 per share . net proceeds of the offering were approximately $ 10 . 1 million after deducting offering expenses . the warrants are exercisable for 8.9 million shares of common stock at $ 1.25 per share . subject to certain ownership limitations described in the warrants , the warrants were immediately exercisable and will remain exercisable until february 17 , 2021. the warrants will be exercisable on a “ cashless ” basis in certain circumstances , including while there is no effective registration statement registering the shares of common stock issuable upon exercise of the warrants at any time until the expiry of the 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.
     ```liquidity and capital resources ﻿ since inception , we have financed our operations primarily through public and private stock offerings , payments received under collaborative agreements and interest earned on our investments . we intend to continue to use our capital resources to fund research and development activities , capital expenditures , working capital requirements and other general corporate purposes . as of december 31 , 2019 , cash and cash equivalents totaled $ 23.1 million . ﻿ 2018 registered direct offering ﻿ on august 17 , 2018 , we completed a common stock offering pursuant to which certain investors purchased 8.9 million shares of common stock and warrants at a price of $ 1.275 per share . net proceeds of the offering were approximately $ 10 . 1 million after deducting offering expenses . the warrants are exercisable for 8.9 million shares of common stock at $ 1.25 per share . subject to certain ownership limitations described in the warrants , the warrants were immediately exercisable and will remain exercisable until february 17 , 2021. the warrants will be exercisable on a “ cashless ” basis in certain circumstances , including while there is no effective registration statement registering the shares of common stock issuable upon exercise of the warrants at any time until the expiry of the warrants .
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 Suspicious Activity Report : ﻿ in 2019 , we completed a small , first-in-human , clinical-proof-of-concept , open-label phase 2a study of pti-125 in the u.s. , with substantial support from the national institute on aging ( nia ) , a division of the nih . treatment with pti-125 for 28 days significantly improved key biomarkers of alzheimer 's pathology , neurodegeneration and neuroinflammation ( p < 0.001 ) . biomarkers effects were seen in all patients in both csf and plasma . to our knowledge , no other drug candidate has improved an entire panel of biomarkers of in patients with alzheimer 's disease . ﻿ a confirmatory , randomized , placebo-controlled , multi-center phase 2b study of pti-125 in alzheimer 's disease is on-going as of march 2020. we expect to announce phase 2b results in approximately mid- 2020 . ﻿ our diagnostic effort , called savadx , is an early-stage program focused on detecting alzheimer 's disease from a small sample of blood , possibly years before the overt appearance of clinical symptoms . we are developing savadx as a fast , accurate and quantitative blood-based investigational biomarker/diagnostic to detect and monitor alzheimer 's disease . t he goal is to make the detection of alzheimer 's disease as simple as getting a blood test . ﻿ alzheimer 's disease is a progressive neurodegenerative disorder that affects cognition , function and behavior . an estimated 5.8 million americans are living with alzheimer 's disease in 20 20 , according to the alzheimer 's association , a non-profit organization . t here are no disease -modifying drug therapies to treat the disease . 63 ﻿ pti-125 and savadx were both discovered and designed in-house and were characterized by our academic collaborators during research activities that were conducted from approximately 2008 to date . we own exclusive , worldwide rights to these drug assets and related technologies , without royalty obligations to any third party . our patent protection in this area currently runs through 2034 . ﻿ financial overview ﻿ we have yet to generate any revenues from product sales . we have an accumulated deficit of $ 168.6 million at december 31 , 2019. these losses have resulted principally from costs incurred in connection with research and development activities , salaries and other personnel-related costs and general corporate expenses . research and development activities include costs of preclinical and clinical studies as well as clinical supplies associated with our product candidates . salaries and other personnel-related costs include non-cash stock-based compensation associated with options and other equity awards granted to employees and non-employees . our operating results may fluctuate substantially from period to period as a result of the timing of preclinical activities , enrollment rates of clinical studies for our product candidates and our need for clinical supplies . ﻿ we believe that our cash and cash equivalents at december 31 , 2019 , will enable us to fund our operating expenses for at least the next 12 months . in addition , we may seek in the future to fund our operations through additional public or private equity or debt financings or other sources . however , we may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . if we are unable to obtain financing or reach profitability , the related lack of liquidity will have a material adverse effect on our operations and future prospects . ﻿ we expect to continue to use significant cash resources in our operations for the next several years . our cash requirements for operating activities and capital expenditures may increase substantially in the future as we : ﻿ · conduct preclinical and clinical studies for our product candidates ; ﻿ · seek regulatory approvals for our product candidates ; ﻿ · develop , formulate , manufacture and commercialize our product candidates ; ﻿ · implement additional internal systems and develop new infrastructure ; ﻿ · acquire or in-license additional products or technologies , or expand the use of our technology ; ﻿ · maintain , defend and expand the scope of our intellectual property ; and ﻿ · hire additional personnel . ﻿ product revenue will depend on our ability to receive regulatory approvals for , and successfully market , our product candidates . if our development efforts result in regulatory approval and successful commercialization of our product candidates , we will generate revenue from direct sales of our drugs and or , if we license our drugs to future collaborators , from the receipt of license fees and royalties from sales of licensed products . we conduct our research and development programs through a combination of internal and collaborative programs . we rely on arrangements with universities , our collaborators , cros and clinical research sites for a significant portion of our product development efforts . ﻿ 64 the following table summarizes expenses which have been reduced for reimbursements received for nih grants ( in thousands ) : ﻿ ﻿ replace_table_token_1_th ﻿ research and development expenses include compensation , contractor fees and supplies as well as allocated common costs . contractor fees and supplies generally include expenses for preclinical studies and clinical studies and costs for formulation and manufacturing activities . other common costs include the allocation of common costs such as facilities . during the year ended december 31 , 2019 and 2018 , we received $ 4.7 million and $ 3.0 million from research grants from the nih . these reimbursements were recorded as a reduction to our research and development expenses . ﻿ our technology has been applied across certain of our portfolio of product candidates . story_separator_special_tag 2019-12 , income taxes ( topic 740 ) simplifying accounting for income taxes as part of its initiative to reduce complexity in the accounting standards . the guidance amended certain disclosure requirements that had become redundant , outdated or superseded . additionally , this guidance amends accounting for the interim period effects of changes in tax laws or rates , and simplifies aspects of the accounting for franchise taxes . the guidance is effective for annual periods beginning after december 15 , 2020 , and is applicable for the company in fiscal 2021. early adoption is permitted . the company does not anticipate that this guidance will have a material impact on its consolidated financial statements . 66 ﻿ in november 2018 , the fasb issued asu no . 2018-18 , collaborative arrangements ( topic 808 ) : clarifying the interaction between topic 808 and topic 606. the amendments in this update provide guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for within the revenue recognition standard . the amendments in this update are effective for interim and annual periods for the company beginning on january 1 , 2020. the company does not anticipate that this guidance will have a material impact on its consolidated financial statements . ﻿ in august 2018 , the fasb issued asu no . 2018-13 , fair value measurement ( topic 820 ) - disclosure framework - changes to the disclosure requirements for fair value measurement ( asu 2018-13 ) , which is designed to improve the effectiveness of disclosures by removing , modifying and adding disclosures related to fair value measurements . asu 2018-13 is effective for fiscal years beginning after december 15 , 2019 , including interim periods within those fiscal years . the company is currently evaluating the impact of asu 2018-13 on its consolidated financial statements . ﻿ results of operations ﻿ research and development expense ﻿ research and development expense consist primarily of costs of drug development work associated with our product candidates , including : ﻿ · preclinical testing , ﻿ · clinical studies , ﻿ · clinical supplies and related formulation and design costs , and ﻿ · compensation and other personnel-related expenses . ﻿ research and development expenses decreased to $ 1.6 million in 2019 from $ 3.0 million in 2018 , representing a 47 % decrease . this decrease was attributable to reimbursements of $ 4.7 million received from research grants in 2019 from the nih and recorded as a reduction to research and development expense , as compared to $ 3.0 million in recorded reimbursements in 2018 , and decreased non-cash stock-related compensation expenses of $ 0.5 million in 2019 compared to $ 1.0 million in 2018 , offset by $ 0.8 million in increased research and development expenses compared to the prior year due to costs incurred for our phase 2 clinical programs . ﻿ we expect research and development expense to fluctuate in future periods as we continue our development efforts . we expect our development efforts to result in our product candidates progressing through various stages of clinical studies . our research and development expenses may fluctuate from period to period due to the timing and scope of our development activities and the results of clinical studies and preclinical studies . ﻿ general and administrative expense ﻿ general and administrative expenses consist of personnel costs , allocated expenses and other expenses for outside professional services , including legal , human resources , audit and accounting services . personnel costs consist of salaries , bonus , benefits and stock-based compensation . allocated expenses consist primarily of facility costs . we incur expenses associated with operating as a public company , including expenses related to compliance with the rules and regulations of the sec and nasdaq , additional insurance expenses , additional audit expenses , investor relations activities , sox compliance expenses and other administrative expenses and professional services . general and administrative expense decreased to $ 3.4 million in 2019 from $ 3.7 million in 2018 , representing an 8 % decrease . this was due primarily to decreases in non-cash stock-based compensation expenses offsetting an increase in compensation costs from the hiring of a chief financial officer in october 2018 . ﻿ general and administrative expenses included non-cash stock-based compensation expenses of $ 0.8 million in 2019 compared to $ 1.4 million in 2018. we expect other general and administrative expense for 2020 will be consistent with 2019 . ﻿ 67 interest income ﻿ interest and other income , net , was $ 328,000 in 2019 compared to $ 105,000 in 2018. the increase was due primarily to higher cash balances from our august 2018 stock offering as well as fluctuations in interest rates . ﻿ story_separator_special_tag roman ; font-size : 10pt `` > 68 net cash used in operating activities was $ 2.5 million for 2019 , resulting primarily from a $ 4.6 million net loss incurred partially offset by $ 1.3 million of stock-based compensation expense and $ 0.8 million from changes in operating assets and liabilities . ﻿ net cash used in operating activities was $ 4.8 million for 2018 , resulting primarily from a $ 6.6 million net loss incurred partially offset by $ 2.4 million of stock-based compensation expense . net cash used in operating activities also included $ 0.7 million of cash used from changes in operating assets and liabilities . ﻿ cash used in investing activities was $ 18,000 for 2019 from purchases of computer equipment . there was no cash from investing activities in 2018 . ﻿ net cash provided by financing activities was $ 5.8 million consisting of $ 5.9 million proceeds from exercise of common stock warrants partially offset by $ 0.1 million in offering expenses related the 2018 sale of common stock and warrants . ﻿ net cash provided by financing activities was $ 14.1 million in 2018 consisting of net proceeds from the

