preclinical studies of sp-2577 in certain ewing sarcoma animal models show a significant tumor reduction as well as a significant survival benefit compared to untreated animals . our ongoing phase 1/2 clinical trial is designed 50 as a single agent dose escalation followed by a dose expansion study . the trial can enroll up to 50 relapsed or refractory ewing sarcoma patients . the primary objectives of the study are to assess the safety and tolerability of sp-2577 . secondary objectives include assessing preliminary efficacy of sp-2577 . as lsd1 can associate with over 60 regulatory proteins other than ews-fli , we believe that lsd1 may also play a critical role in progression of various other cancer types . these include both solid tumors and hematologic malignancies . in the second quarter of 2019 , we initiated a second company-sponsored phase 1 trial to study sp-2577 in advanced solid tumors . the advanced solid tumor ( “ ast ” ) trial is a single agent dose escalation , dose expansion study enrolling patients with advanced malignancies , excluding ewing sarcoma or central nervous system tumors . in addition , recent data from “ lsd1 ablation stimulates anti-tumor immunity and enables checkpoint blockade ” by w. sheng , et al . and “ inhibition of histone lysine-specific demethylase 1 elicits breast tumor immunity and enhances antitumor efficacy of immune checkpoint blockade ” by y. qin , et al . suggests that lsd1 plays a role in tumor immune activity and can sensitize tumors to checkpoint inhibitors . these recent works have sparked interest in combining lsd1 inhibitors with checkpoint inhibitors . we are conducting preclinical work with sp-2577 in this area . we have no products approved for commercial sale and have not generated any revenue from product sales . we have never been profitable and have incurred operating losses in each year since inception . we had an accumulated deficit of $ 19,428,954 as of december 31 , 2020. substantially all of our operating losses resulted from expenses incurred in connection with our research and development programs and from general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years as we initiate and continue the clinical development of , and seek regulatory approval for , our product candidates , add personnel necessary to continue to operate as a public company , and work to develop an advanced clinical pipeline of product candidates . we expect that our operating losses will fluctuate significantly from quarter-to-quarter and year-to-year due to timing of clinical development programs and efforts to achieve regulatory approval . as of december 31 , 2020 , we had cash and cash equivalents of $ 11.1 million . as of december 31 , 2020 , we have received an aggregate of $ 10.4 million from the cprit grant . a portion of the remaining $ 8.3 million cprit grant was for a castration-resistant prostate study ( approximately $ 2.6 million ) . we elected not to pursue the study , and accordingly this amount will no longer be available . in february 2021 , we received $ 0.9 million from cprit and there was $ 4.8 million of funds available for us to draw upon meeting certain requirements . we believe that as of december 31 , 2020 , cprit fund matching requirements had been fully met . additionally , on march 8 , 2021 we completed a public offering of our shares , with net proceeds of $ 21.1 million . we believe that our cash and cash equivalents currently on hand are sufficient to fund our anticipated operating and capital requirements through at least 12 months from the date this report is filed , however we will continue to require substantial additional capital to continue our clinical development activities and may need such additional capital sooner than 12 months . accordingly , we will need to raise substantial additional capital to continue to fund our operations . the amount and timing of our future funding requirements will depend on many factors , including the pace and results of our development , regulatory approvals and authorizations , commercialization efforts and market conditions . failure to raise capital as and when needed , on favorable terms or at all , would have a negative impact on our financial condition and our ability to develop and commercialize our product candidates . we intend to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments . we may also consider new collaborations or selectively partnering our technology . however , we can not provide any assurance that we will be successful in accomplishing any of our plans to obtain additional capital or be able to do so on terms acceptable to us . recent events on march 8 , 2021 , we completed a public offering of 16,806,722 shares of our common stock , including 2,192,181 shares sold pursuant to the exercise in full of the underwriters ' option to purchase additional shares , at the public offering price of $ 1.3685 per share . the aggregate gross proceeds of the offering , before deducting underwriting discounts and commissions and other offering expense , were approximately $ 23 million . 51 from january 1 , 2020 through march 9 , 2021 , we received approximately $ 1.5 million from warrants exercised for cash . on february 11 , 2021 , we completed an at the marketing offering ( `` atm offering `` ) with total gross proceeds of approximately $ 6.3 million . total common shares sold by the atm offering were 2,820,490 , with an average selling price of $ 2.24 per share . story_separator_special_tag during the fourth quarter of 2020 and first quarter of 2021 , we received $ 1.7million from the cancer prevention research institute of texas . we estimate we will have approximately $ 37 million cash availability when we issue the form 10-k annual report for the year ended december 31 , 2020 results of operations the following table sets forth the consolidated results of our operations for the year ended december 31 , 2020 compared to the year ended december 31 , 2019. replace_table_token_2_th grant revenue grant revenue , which was derived solely from the cprit grant , was $ 5.2 million during the year ended december 31 , 2020 compared to $ 3.5 million during the year ended december 31 , 2019. the increase in revenue from the cprit grant was due to an increase in overall expenses which resulted in an increase in the amount of expenses reimbursable under the grant . given the nature of the development process , grant revenue will fluctuate depending on the stage of development and the timing of expenses . research and development expenses research and development expenses were $ 6.9 million during the year ended december 31 , 2020 compared to $ 4.0 million during the year ended december 31 , 2019. this increase of $ 2.9 million was principally due to the manufacturing of our active pharmaceutical ingredient in preparation of forecasted increased enrollment and clinical trial activity and higher personnel and consulting fees offsetting lower clinical trial spending . general and administrative expense general and administrative expenses were $ 6.1 million for the year ended december 31 , 2020 compared to $ 7.7 million for the year ended december 31 , 2019 , a decrease of $ 1.6 million . during the current period lower professional fees and non-recurring costs associated with our july 2019 merger and transformation into a public company more than offset significantly higher personnel related expenses and increased director & officers insurance costs . change in fair value of warrant liability the change in fair value of warrant liability was primarily due to the fluctuation of the price of our common stock which was $ 0.91 per share on december 31 , 2020 compared to $ 3.78 per share on december 31 , 2019 . 52 liquidity and capital resources overview since inception , we have incurred operating losses and we anticipate that we will continue to incur losses for the foreseeable future . to date , we have generated revenue from the cprit grant , and have not generated any cash inflows from product sales . we do not know when , or if , we will generate any revenue from product sales . we do not expect to generate any revenue from product sales unless and until we obtain regulatory approval for and commercializes any of our product candidates . at the same time , we expect our expenses to increase in connection with our ongoing development and manufacturing activities , particularly as we continue the research , development , manufacture and clinical trials of , and seek regulatory approval for our product candidates . resulting from the capital raise activity during the fourth quarter of 2020 and the first quarter of 2021 , we presently have sufficient cash and cash equivalents to enable us to fund our anticipated level of operations and meet our obligations as they become due during the twelve months following the date of issuance of this annual report on form 10-k. as of december 31 , 2020 , we had $ 13.0 million of working capital and our cash and cash equivalents totaled $ 11.1 million , which were held in bank deposit accounts . our cash and cash equivalents balance increased during the year ended december 31 , 2020 , primarily due to the capital received from financing activities partially offset by our net loss incurred . story_separator_special_tag style= `` color : # 0000ff ; font-family : 'arial ' , sans-serif ; font-size:9pt ; font-weight:400 ; line-height:120 % ; text-decoration : underline `` > commercialization efforts or grant rights to develop and market product candidates to third parties that we would otherwise prefer to develop and market itself . successful development of product candidates is highly uncertain and may not result in approved products . completion dates and completion costs can vary significantly for each product candidate and are difficult to predict . we anticipate that we will make determinations as to which programs to pursue and how much funding to direct to each program on an ongoing basis in response to the scientific and clinical success of each product candidate and ongoing assessments as to each product candidate 's commercial potential . we will need to raise additional capital and may seek to do so through public or private equity or debt financings , government or other third-party funding , marketing and distribution arrangements and other collaborations , strategic alliances and licensing arrangements or a combination of these approaches . however , we may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . our failure to raise capital or enter into such other arrangements as and when needed would have a negative impact on our financial condition and our ability to develop our product candidates . critical accounting policies and significant judgments and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which have been prepared in accordance with gaap . the preparation of these consolidated financial statements requires us to make estimates , judgments and assumptions that affect the reported amounts of assets and liabilities , disclosure of contingent assets and liabilities as of the date of the consolidated balance sheet and the reported amounts of expenses during the reporting period . in accordance with gaap , we base our estimates on historical experience and on various other assumptions

cash flows replace_table_token_3_th operating activities cash used in operating activities was $ 10.3 million for the year ended december 31 , 2020 , as compared to $ 11.6 million for the year ended december 31 , 2019. our receivable from cprit increased $ 3.9 million in the current period reflecting unreimbursed cprit allowable cash spending . investing activities net cash provided by investing activities during the year ended december 31 , 2019 was related to $ 5.6 million net cash received from flex pharma merger and the sale of the hotshot business . financing activities 53 replace_table_token_4_th net cash provided by financing activities was $ 17.7 million and $ 3.6 million for the years ended december 31 , 2020 and 2019. an increase of $ 14.1 million resulting primarily from the sale of our common and preferred shares during february and august 2020 and the exercise of warrants during the fourth quarter 2020. during the year ended december 31 , 2019 , we made dividend payments of $ 0.13 million to preferred unit holders , whereas no such payments during the year ended december 31 , 2020 . principal payments on the insurance financing note were $ 0.97 million during the year ended december 31 , 2020 compared to $ 0.42 for the year ended december 31 , 2019. future capital requirements we expectto continue to incur additional costs associated with operating as a public company .


 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 replace_table_token_3_th operating activities cash used in operating activities was $ 10.3 million for the year ended december 31 , 2020 , as compared to $ 11.6 million for the year ended december 31 , 2019. our receivable from cprit increased $ 3.9 million in the current period reflecting unreimbursed cprit allowable cash spending . investing activities net cash provided by investing activities during the year ended december 31 , 2019 was related to $ 5.6 million net cash received from flex pharma merger and the sale of the hotshot business . financing activities 53 replace_table_token_4_th net cash provided by financing activities was $ 17.7 million and $ 3.6 million for the years ended december 31 , 2020 and 2019. an increase of $ 14.1 million resulting primarily from the sale of our common and preferred shares during february and august 2020 and the exercise of warrants during the fourth quarter 2020. during the year ended december 31 , 2019 , we made dividend payments of $ 0.13 million to preferred unit holders , whereas no such payments during the year ended december 31 , 2020 . principal payments on the insurance financing note were $ 0.97 million during the year ended december 31 , 2020 compared to $ 0.42 for the year ended december 31 , 2019. future capital requirements we expectto continue to incur additional costs associated with operating as a public company .
```    
 Suspicious Activity Report : preclinical studies of sp-2577 in certain ewing sarcoma animal models show a significant tumor reduction as well as a significant survival benefit compared to untreated animals . our ongoing phase 1/2 clinical trial is designed 50 as a single agent dose escalation followed by a dose expansion study . the trial can enroll up to 50 relapsed or refractory ewing sarcoma patients . the primary objectives of the study are to assess the safety and tolerability of sp-2577 . secondary objectives include assessing preliminary efficacy of sp-2577 . as lsd1 can associate with over 60 regulatory proteins other than ews-fli , we believe that lsd1 may also play a critical role in progression of various other cancer types . these include both solid tumors and hematologic malignancies . in the second quarter of 2019 , we initiated a second company-sponsored phase 1 trial to study sp-2577 in advanced solid tumors . the advanced solid tumor ( “ ast ” ) trial is a single agent dose escalation , dose expansion study enrolling patients with advanced malignancies , excluding ewing sarcoma or central nervous system tumors . in addition , recent data from “ lsd1 ablation stimulates anti-tumor immunity and enables checkpoint blockade ” by w. sheng , et al . and “ inhibition of histone lysine-specific demethylase 1 elicits breast tumor immunity and enhances antitumor efficacy of immune checkpoint blockade ” by y. qin , et al . suggests that lsd1 plays a role in tumor immune activity and can sensitize tumors to checkpoint inhibitors . these recent works have sparked interest in combining lsd1 inhibitors with checkpoint inhibitors . we are conducting preclinical work with sp-2577 in this area . we have no products approved for commercial sale and have not generated any revenue from product sales . we have never been profitable and have incurred operating losses in each year since inception . we had an accumulated deficit of $ 19,428,954 as of december 31 , 2020. substantially all of our operating losses resulted from expenses incurred in connection with our research and development programs and from general and administrative costs associated with our operations . we expect to continue to incur significant expenses and increasing operating losses for at least the next several years as we initiate and continue the clinical development of , and seek regulatory approval for , our product candidates , add personnel necessary to continue to operate as a public company , and work to develop an advanced clinical pipeline of product candidates . we expect that our operating losses will fluctuate significantly from quarter-to-quarter and year-to-year due to timing of clinical development programs and efforts to achieve regulatory approval . as of december 31 , 2020 , we had cash and cash equivalents of $ 11.1 million . as of december 31 , 2020 , we have received an aggregate of $ 10.4 million from the cprit grant . a portion of the remaining $ 8.3 million cprit grant was for a castration-resistant prostate study ( approximately $ 2.6 million ) . we elected not to pursue the study , and accordingly this amount will no longer be available . in february 2021 , we received $ 0.9 million from cprit and there was $ 4.8 million of funds available for us to draw upon meeting certain requirements . we believe that as of december 31 , 2020 , cprit fund matching requirements had been fully met . additionally , on march 8 , 2021 we completed a public offering of our shares , with net proceeds of $ 21.1 million . we believe that our cash and cash equivalents currently on hand are sufficient to fund our anticipated operating and capital requirements through at least 12 months from the date this report is filed , however we will continue to require substantial additional capital to continue our clinical development activities and may need such additional capital sooner than 12 months . accordingly , we will need to raise substantial additional capital to continue to fund our operations . the amount and timing of our future funding requirements will depend on many factors , including the pace and results of our development , regulatory approvals and authorizations , commercialization efforts and market conditions . failure to raise capital as and when needed , on favorable terms or at all , would have a negative impact on our financial condition and our ability to develop and commercialize our product candidates . we intend to obtain additional capital through the sale of equity securities in one or more offerings or through issuances of debt instruments . we may also consider new collaborations or selectively partnering our technology . however , we can not provide any assurance that we will be successful in accomplishing any of our plans to obtain additional capital or be able to do so on terms acceptable to us . recent events on march 8 , 2021 , we completed a public offering of 16,806,722 shares of our common stock , including 2,192,181 shares sold pursuant to the exercise in full of the underwriters ' option to purchase additional shares , at the public offering price of $ 1.3685 per share . the aggregate gross proceeds of the offering , before deducting underwriting discounts and commissions and other offering expense , were approximately $ 23 million . 51 from january 1 , 2020 through march 9 , 2021 , we received approximately $ 1.5 million from warrants exercised for cash . on february 11 , 2021 , we completed an at the marketing offering ( `` atm offering `` ) with total gross proceeds of approximately $ 6.3 million . total common shares sold by the atm offering were 2,820,490 , with an average selling price of $ 2.24 per share . story_separator_special_tag during the fourth quarter of 2020 and first quarter of 2021 , we received $ 1.7million from the cancer prevention research institute of texas . we estimate we will have approximately $ 37 million cash availability when we issue the form 10-k annual report for the year ended december 31 , 2020 results of operations the following table sets forth the consolidated results of our operations for the year ended december 31 , 2020 compared to the year ended december 31 , 2019. replace_table_token_2_th grant revenue grant revenue , which was derived solely from the cprit grant , was $ 5.2 million during the year ended december 31 , 2020 compared to $ 3.5 million during the year ended december 31 , 2019. the increase in revenue from the cprit grant was due to an increase in overall expenses which resulted in an increase in the amount of expenses reimbursable under the grant . given the nature of the development process , grant revenue will fluctuate depending on the stage of development and the timing of expenses . research and development expenses research and development expenses were $ 6.9 million during the year ended december 31 , 2020 compared to $ 4.0 million during the year ended december 31 , 2019. this increase of $ 2.9 million was principally due to the manufacturing of our active pharmaceutical ingredient in preparation of forecasted increased enrollment and clinical trial activity and higher personnel and consulting fees offsetting lower clinical trial spending . general and administrative expense general and administrative expenses were $ 6.1 million for the year ended december 31 , 2020 compared to $ 7.7 million for the year ended december 31 , 2019 , a decrease of $ 1.6 million . during the current period lower professional fees and non-recurring costs associated with our july 2019 merger and transformation into a public company more than offset significantly higher personnel related expenses and increased director & officers insurance costs . change in fair value of warrant liability the change in fair value of warrant liability was primarily due to the fluctuation of the price of our common stock which was $ 0.91 per share on december 31 , 2020 compared to $ 3.78 per share on december 31 , 2019 . 52 liquidity and capital resources overview since inception , we have incurred operating losses and we anticipate that we will continue to incur losses for the foreseeable future . to date , we have generated revenue from the cprit grant , and have not generated any cash inflows from product sales . we do not know when , or if , we will generate any revenue from product sales . we do not expect to generate any revenue from product sales unless and until we obtain regulatory approval for and commercializes any of our product candidates . at the same time , we expect our expenses to increase in connection with our ongoing development and manufacturing activities , particularly as we continue the research , development , manufacture and clinical trials of , and seek regulatory approval for our product candidates . resulting from the capital raise activity during the fourth quarter of 2020 and the first quarter of 2021 , we presently have sufficient cash and cash equivalents to enable us to fund our anticipated level of operations and meet our obligations as they become due during the twelve months following the date of issuance of this annual report on form 10-k. as of december 31 , 2020 , we had $ 13.0 million of working capital and our cash and cash equivalents totaled $ 11.1 million , which were held in bank deposit accounts . our cash and cash equivalents balance increased during the year ended december 31 , 2020 , primarily due to the capital received from financing activities partially offset by our net loss incurred . story_separator_special_tag style= `` color : # 0000ff ; font-family : 'arial ' , sans-serif ; font-size:9pt ; font-weight:400 ; line-height:120 % ; text-decoration : underline `` > commercialization efforts or grant rights to develop and market product candidates to third parties that we would otherwise prefer to develop and market itself . successful development of product candidates is highly uncertain and may not result in approved products . completion dates and completion costs can vary significantly for each product candidate and are difficult to predict . we anticipate that we will make determinations as to which programs to pursue and how much funding to direct to each program on an ongoing basis in response to the scientific and clinical success of each product candidate and ongoing assessments as to each product candidate 's commercial potential . we will need to raise additional capital and may seek to do so through public or private equity or debt financings , government or other third-party funding , marketing and distribution arrangements and other collaborations , strategic alliances and licensing arrangements or a combination of these approaches . however , we may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all . our failure to raise capital or enter into such other arrangements as and when needed would have a negative impact on our financial condition and our ability to develop our product candidates . critical accounting policies and significant judgments and estimates our management 's discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements , which have been prepared in accordance with gaap . the preparation of these consolidated financial statements requires us to make estimates , judgments and assumptions that affect the reported amounts of assets and liabilities , disclosure of contingent assets and liabilities as of the date of the consolidated balance sheet and the reported amounts of expenses during the reporting period . in accordance with gaap , we base our estimates on historical experience and on various other assumptions

