the phase 1b segment of the trial was designed to confirm the trilaciclib dose to be used in the randomized , placebo-controlled phase 2a segment of the trial . the goals of the trial are to evaluate the safety , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with the existing second/third-line chemotherapy standard of care regimen of topotecan and to confirm the dose to be used in future trials . all patients in the phase 1b segment were administered three-week cycles of trilaciclib plus topotecan until the progression of disease . trilaciclib was administered as an iv infusion prior to every dose of topotecan . trilaciclib doses of 200 to 280 mg/m 2 and topotecan doses of 0.75 to 1.5 mg/m 2 were tested across 7 cohorts in the completed phase 1b open-label segment of the trial . upon completion of the phase 1b segment of the trial , the doses chosen for the randomized , placebo-controlled phase 2a segment of this trial are trilaciclib 240 mg/m 2 + topotecan 0.75 mg/m 2 and trilaciclib 240 mg/m 2 + topotecan 1.5 mg/m 2 . in the phase 1b segment we treated 32 patients with trilaciclib and topotecan without any episodes of febrile neutropenia or treatment related saes . preliminary results from the phase 1b were reported at the iasclc world conference on lung cancer in december 2016 , and based on these results the phase 2a segment of the trial was initiated in the first quarter of 2017 and consists of a double blind-design with approximately 90 patients randomized on a 2:1 basis to receive trilaciclib plus topotecan , or placebo plus topotecan . we plan to complete enrollment in this trial in the second quarter of 2018. we expect to update the data from the phase 1b segment of the trial and to report preliminary data from the phase 2a segment of the trial in the fourth quarter of 2018. ongoing phase 2 clinical trial in triple negative breast cancer ( tnbc ) in january 2017 , we initiated an open label , randomized , phase 2 trial that is expected to enroll approximately 90 patients with first , second or third-line metastatic tnbc across multiple sites in the united states and europe . the goals of the clinical trial are to evaluate the safety , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with the existing chemotherapy standard of care regimen of gemcitabine and carboplatin . we expect to fully enroll this trial in the second-quarter of 2018 and report preliminary data in the fourth-quarter of 2018. ongoing phase 2 clinical trial in first-line treatment of sclc with a checkpoint inhibitor in december 2016 , we entered into a non-exclusive agreement with genentech to evaluate the combination of genentech 's immune checkpoint , anti-pd-l1 antibody tecentriq with trilaciclib . our first trial under the agreement is in first-line treatment for patients with extensive stage sclc receiving carboplatin and etoposide . we initiated enrollment in this randomized , double-blinded , placebo-controlled phase 2 trial in the second quarter of 2017. the goals of the clinical trial are to evaluate the safety , overall survival , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with a checkpoint inhibitor tecentriq and chemotherapy . we completed enrollment in the first quarter of 2018. g1t38 : our potential best-in-class cdk4/6 inhibitor for patients with cdk4/6-dependent tumors g1t38 , our second clinical-stage candidate , is a potential best-in-class oral cdk4/6 inhibitor , to be used in combination with other targeted therapies to treat multiple cancers . we rationally designed g1t38 to improve upon and address the shortcomings of the approved cdk4/6 inhibitors ibrance® , kisqali® and verzenio® . our preclinical data and early human clinical data indicate the potential for continuous daily dosing , less dose-limiting neutropenia , and improved tolerability . a phase 1 trial of g1t38 in 75 healthy volunteers showed a favorable safety profile , and we initiated a phase 1b/2a trial in er+ , her2- breast cancer in january 2017. our plans for g1t38 include combinations in other cancers , such as non-small cell lung cancer , or nsclc , where we expect to begin a phase 1b/2 trial in march 2018 in combination with the epidermal growth factor receptor ( egfr ) inhibitor , tagrisso® . we believe that g1t38 has the potential to be the backbone therapy of multiple combination targeted therapy regimens . 54 completed phase 1 clinical trial in the fourth quarter of 2016 , we completed a phase 1 clinical trial of g1t38 in 75 healthy volunteers in the netherlands . this was a single ascending dose , placebo-controlled trial testing doses of 3 to 600 mg. in addition , g1t38 was dosed at 200 and 300 mg twice a day , 300 mg with and without food , and 300 mg as an oral solution . the goals of the clinical trial were to obtain pk and safety data to inform appropriate starting dose ( s ) for studies in patients . there were no dlts , saes , or grade 3/4 aes reported in this study . the most common grade 1/2 aes were gastrointestinal in nature ( such as diarrhea , nausea or vomiting ) . a fed/fasted cohort demonstrated that taking g1t38 after a meal did not result in any nausea and that food had no effect on pk . therefore , we plan to dose g1t38 with food in all upcoming studies . ongoing phase 1b/2a clinical trial in er+ , her2- breast cancer in january 2017 , we initiated a phase 1b/2a trial in er+ , her2- breast cancer patients in combination with faslodex® , an fda-approved serd . the trial is expected to enroll up to 100 patients in europe . story_separator_special_tag this free-standing instrument was exercised on december 10 , 2015 when the right to require the purchase of the second tranche shares by the holders of the outstanding shares of series b preferred stock was exercised , resulting in an outstanding liability of zero on december 31 , 2017 and 2016. stock-based compensation we account for stock-based compensation awards in accordance with financial accounting standards board ( fasb ) accounting standards codification ( asc ) topic 718 , compensation—stock compensation , or asc 718. asc 718 requires all stock-based 58 payments to employees , including grants of employee stock options , to be recognized in the statement of operations based on their fair values . our stock-based compensation awards have historically consisted of stock options . we recognize compensation costs related to stock options granted to employees based on the estimated fair value of the awards on the date of grant , net of estimated forfeitures . we estimate the grant date fair value , and the resulting stock-based compensation expense , using the black-scholes option-pricing model . the grant date fair value of the stock-based awards is generally recognized on a straight-line basis over the requisite service period , which is generally the vesting period of the respective awards . we recognize compensation costs related to stock options granted to non-employees based on the estimated fair value of the awards on the date of grant in the same manner as we do options for employees ; however , the fair value of the stock options granted to non-employees is re-measured each reporting period until the service is complete , and the resulting increase or decrease in value , if any , is recognized as expense or income , respectively , during the period the related services are rendered . we recorded non-cash stock-based compensation expense for employee and non-employee stock option grants of $ 3.4 million , $ 1.4 million and $ 0.4 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . we calculate the fair value of stock options using the black-scholes option-pricing model . the black-scholes option-pricing model requires the use of subjective assumptions , including the expected volatility of our common stock , the assumed dividend yield , the expected term of our stock options , the risk-free interest rate for a period that approximates the expected term of our stock options , and the fair value of the underlying common stock on the date of grant . in applying these assumptions , we considered the following factors : we do not have sufficient history to estimate the volatility of our common stock ; we calculate expected volatility based on reported data for selected similar publicly traded companies for which the historical information is available ; we plan to continue to use the guideline peer group volatility information until the historical volatility of our common stock is sufficient to measure expected volatility for future option grants ; the assumed dividend yield of zero is based on our expectation of not paying dividends for the foreseeable future ; our estimates of expected term used in the black-scholes option-pricing model were based on the estimated time from the grant date to the date of exercise ; we determine the risk-free interest rate by reference to implied yields available from u.s. treasury securities with a remaining term equal to the expected life assumed at the date of grant ; and we estimate forfeitures based on our historical analysis of actual stock option forfeitures . to date , we have had minimal forfeitures , accordingly , we have assumed no forfeiture rate . see “ note 8 – stock option plan ” to the accompanying audited financial statements included in item 15 of this annual report for the weighted average assumptions used in the black-scholes option-pricing model for awards granted in the years ended december 31 , 2017 , 2016 and 2015. prior to our initial public offering , the fair value of our common shares underlying our stock options was estimated on each grant date by our board of directors . in order to determine the fair value of our common shares underlying granted stock options , our board of directors considered , among other things , timely valuations of our common shares prepared by an unrelated third-party valuation firm in accordance with the guidance provided by the american institute of certified public accountants practice guide , valuation of privately-held-company equity securities issued as compensation . given the absence of a public trading market for our common shares , our board of directors exercised reasonable judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of our common shares , including ( 1 ) our business , financial condition and results of operations , including related industry trends affecting our operations ; ( 2 ) our forecasted operating performance and projected future cash flows ; ( 3 ) the illiquid nature of our common shares ; ( 4 ) liquidation preferences and other rights and privileges of our common shares ; ( 5 ) market multiples of our most comparable public peers and ( 6 ) market conditions affecting our industry . in connection with our 2015 audit , we reassessed the determination of the fair value of the common shares underlying 1,607,119 stock options granted throughout 2015. as a result , we determined that the fair value of the common shares in 2015 increased from $ 0.30 per common share at january 31 , 2015 to $ 3.72 per common share at december 31 , 2015 , which was higher than the fair value per share as initially determined by the board of directors on the respective grant dates of february 27 , 2015 , july 15 , 2015 and september 7 , 2015. the use of this higher share price increased both recognized and unrecognized share-based compensation expense . 59 in

liquidity and capital resources we have incurred significant operating losses since our inception . we incurred net losses of $ 60.1 million for the year ended december 31 , 2017 , $ 30.3 million for the year ended december 31 , 2016 , and $ 20.3 million for the year ended december 31 , 2015. as of december 31 , 2017 , we had an accumulated deficit of $ 129.1 million . our product candidates span a range from preclinical development to phase 2 clinical trials , and it may be several years , if ever , before we have a product candidate ready for commercialization . to date , we have financed our operations primarily through sales of our preferred and common stock . we expect to continue to incur significant expenses and increasing operating losses for the foreseeable future . as of december 31 , 2017 , we had cash , cash equivalents and short-term investments of $ 103.8 million . we believe that our existing cash and cash equivalents will be sufficient to fund our projected cash needs for greater than 12 months following the filing of this annual report . in order to complete the process of obtaining regulatory approval for our product candidates and to build the sales , marketing and distribution infrastructure that we believe will be necessary to commercialize our product candidates , if approved , we will require substantial additional funding .


 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 we have incurred significant operating losses since our inception . we incurred net losses of $ 60.1 million for the year ended december 31 , 2017 , $ 30.3 million for the year ended december 31 , 2016 , and $ 20.3 million for the year ended december 31 , 2015. as of december 31 , 2017 , we had an accumulated deficit of $ 129.1 million . our product candidates span a range from preclinical development to phase 2 clinical trials , and it may be several years , if ever , before we have a product candidate ready for commercialization . to date , we have financed our operations primarily through sales of our preferred and common stock . we expect to continue to incur significant expenses and increasing operating losses for the foreseeable future . as of december 31 , 2017 , we had cash , cash equivalents and short-term investments of $ 103.8 million . we believe that our existing cash and cash equivalents will be sufficient to fund our projected cash needs for greater than 12 months following the filing of this annual report . in order to complete the process of obtaining regulatory approval for our product candidates and to build the sales , marketing and distribution infrastructure that we believe will be necessary to commercialize our product candidates , if approved , we will require substantial additional funding .
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 Suspicious Activity Report : the phase 1b segment of the trial was designed to confirm the trilaciclib dose to be used in the randomized , placebo-controlled phase 2a segment of the trial . the goals of the trial are to evaluate the safety , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with the existing second/third-line chemotherapy standard of care regimen of topotecan and to confirm the dose to be used in future trials . all patients in the phase 1b segment were administered three-week cycles of trilaciclib plus topotecan until the progression of disease . trilaciclib was administered as an iv infusion prior to every dose of topotecan . trilaciclib doses of 200 to 280 mg/m 2 and topotecan doses of 0.75 to 1.5 mg/m 2 were tested across 7 cohorts in the completed phase 1b open-label segment of the trial . upon completion of the phase 1b segment of the trial , the doses chosen for the randomized , placebo-controlled phase 2a segment of this trial are trilaciclib 240 mg/m 2 + topotecan 0.75 mg/m 2 and trilaciclib 240 mg/m 2 + topotecan 1.5 mg/m 2 . in the phase 1b segment we treated 32 patients with trilaciclib and topotecan without any episodes of febrile neutropenia or treatment related saes . preliminary results from the phase 1b were reported at the iasclc world conference on lung cancer in december 2016 , and based on these results the phase 2a segment of the trial was initiated in the first quarter of 2017 and consists of a double blind-design with approximately 90 patients randomized on a 2:1 basis to receive trilaciclib plus topotecan , or placebo plus topotecan . we plan to complete enrollment in this trial in the second quarter of 2018. we expect to update the data from the phase 1b segment of the trial and to report preliminary data from the phase 2a segment of the trial in the fourth quarter of 2018. ongoing phase 2 clinical trial in triple negative breast cancer ( tnbc ) in january 2017 , we initiated an open label , randomized , phase 2 trial that is expected to enroll approximately 90 patients with first , second or third-line metastatic tnbc across multiple sites in the united states and europe . the goals of the clinical trial are to evaluate the safety , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with the existing chemotherapy standard of care regimen of gemcitabine and carboplatin . we expect to fully enroll this trial in the second-quarter of 2018 and report preliminary data in the fourth-quarter of 2018. ongoing phase 2 clinical trial in first-line treatment of sclc with a checkpoint inhibitor in december 2016 , we entered into a non-exclusive agreement with genentech to evaluate the combination of genentech 's immune checkpoint , anti-pd-l1 antibody tecentriq with trilaciclib . our first trial under the agreement is in first-line treatment for patients with extensive stage sclc receiving carboplatin and etoposide . we initiated enrollment in this randomized , double-blinded , placebo-controlled phase 2 trial in the second quarter of 2017. the goals of the clinical trial are to evaluate the safety , overall survival , myelopreservation , pk , and anti-tumor activity of trilaciclib in combination with a checkpoint inhibitor tecentriq and chemotherapy . we completed enrollment in the first quarter of 2018. g1t38 : our potential best-in-class cdk4/6 inhibitor for patients with cdk4/6-dependent tumors g1t38 , our second clinical-stage candidate , is a potential best-in-class oral cdk4/6 inhibitor , to be used in combination with other targeted therapies to treat multiple cancers . we rationally designed g1t38 to improve upon and address the shortcomings of the approved cdk4/6 inhibitors ibrance® , kisqali® and verzenio® . our preclinical data and early human clinical data indicate the potential for continuous daily dosing , less dose-limiting neutropenia , and improved tolerability . a phase 1 trial of g1t38 in 75 healthy volunteers showed a favorable safety profile , and we initiated a phase 1b/2a trial in er+ , her2- breast cancer in january 2017. our plans for g1t38 include combinations in other cancers , such as non-small cell lung cancer , or nsclc , where we expect to begin a phase 1b/2 trial in march 2018 in combination with the epidermal growth factor receptor ( egfr ) inhibitor , tagrisso® . we believe that g1t38 has the potential to be the backbone therapy of multiple combination targeted therapy regimens . 54 completed phase 1 clinical trial in the fourth quarter of 2016 , we completed a phase 1 clinical trial of g1t38 in 75 healthy volunteers in the netherlands . this was a single ascending dose , placebo-controlled trial testing doses of 3 to 600 mg. in addition , g1t38 was dosed at 200 and 300 mg twice a day , 300 mg with and without food , and 300 mg as an oral solution . the goals of the clinical trial were to obtain pk and safety data to inform appropriate starting dose ( s ) for studies in patients . there were no dlts , saes , or grade 3/4 aes reported in this study . the most common grade 1/2 aes were gastrointestinal in nature ( such as diarrhea , nausea or vomiting ) . a fed/fasted cohort demonstrated that taking g1t38 after a meal did not result in any nausea and that food had no effect on pk . therefore , we plan to dose g1t38 with food in all upcoming studies . ongoing phase 1b/2a clinical trial in er+ , her2- breast cancer in january 2017 , we initiated a phase 1b/2a trial in er+ , her2- breast cancer patients in combination with faslodex® , an fda-approved serd . the trial is expected to enroll up to 100 patients in europe . story_separator_special_tag this free-standing instrument was exercised on december 10 , 2015 when the right to require the purchase of the second tranche shares by the holders of the outstanding shares of series b preferred stock was exercised , resulting in an outstanding liability of zero on december 31 , 2017 and 2016. stock-based compensation we account for stock-based compensation awards in accordance with financial accounting standards board ( fasb ) accounting standards codification ( asc ) topic 718 , compensation—stock compensation , or asc 718. asc 718 requires all stock-based 58 payments to employees , including grants of employee stock options , to be recognized in the statement of operations based on their fair values . our stock-based compensation awards have historically consisted of stock options . we recognize compensation costs related to stock options granted to employees based on the estimated fair value of the awards on the date of grant , net of estimated forfeitures . we estimate the grant date fair value , and the resulting stock-based compensation expense , using the black-scholes option-pricing model . the grant date fair value of the stock-based awards is generally recognized on a straight-line basis over the requisite service period , which is generally the vesting period of the respective awards . we recognize compensation costs related to stock options granted to non-employees based on the estimated fair value of the awards on the date of grant in the same manner as we do options for employees ; however , the fair value of the stock options granted to non-employees is re-measured each reporting period until the service is complete , and the resulting increase or decrease in value , if any , is recognized as expense or income , respectively , during the period the related services are rendered . we recorded non-cash stock-based compensation expense for employee and non-employee stock option grants of $ 3.4 million , $ 1.4 million and $ 0.4 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . we calculate the fair value of stock options using the black-scholes option-pricing model . the black-scholes option-pricing model requires the use of subjective assumptions , including the expected volatility of our common stock , the assumed dividend yield , the expected term of our stock options , the risk-free interest rate for a period that approximates the expected term of our stock options , and the fair value of the underlying common stock on the date of grant . in applying these assumptions , we considered the following factors : we do not have sufficient history to estimate the volatility of our common stock ; we calculate expected volatility based on reported data for selected similar publicly traded companies for which the historical information is available ; we plan to continue to use the guideline peer group volatility information until the historical volatility of our common stock is sufficient to measure expected volatility for future option grants ; the assumed dividend yield of zero is based on our expectation of not paying dividends for the foreseeable future ; our estimates of expected term used in the black-scholes option-pricing model were based on the estimated time from the grant date to the date of exercise ; we determine the risk-free interest rate by reference to implied yields available from u.s. treasury securities with a remaining term equal to the expected life assumed at the date of grant ; and we estimate forfeitures based on our historical analysis of actual stock option forfeitures . to date , we have had minimal forfeitures , accordingly , we have assumed no forfeiture rate . see “ note 8 – stock option plan ” to the accompanying audited financial statements included in item 15 of this annual report for the weighted average assumptions used in the black-scholes option-pricing model for awards granted in the years ended december 31 , 2017 , 2016 and 2015. prior to our initial public offering , the fair value of our common shares underlying our stock options was estimated on each grant date by our board of directors . in order to determine the fair value of our common shares underlying granted stock options , our board of directors considered , among other things , timely valuations of our common shares prepared by an unrelated third-party valuation firm in accordance with the guidance provided by the american institute of certified public accountants practice guide , valuation of privately-held-company equity securities issued as compensation . given the absence of a public trading market for our common shares , our board of directors exercised reasonable judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of our common shares , including ( 1 ) our business , financial condition and results of operations , including related industry trends affecting our operations ; ( 2 ) our forecasted operating performance and projected future cash flows ; ( 3 ) the illiquid nature of our common shares ; ( 4 ) liquidation preferences and other rights and privileges of our common shares ; ( 5 ) market multiples of our most comparable public peers and ( 6 ) market conditions affecting our industry . in connection with our 2015 audit , we reassessed the determination of the fair value of the common shares underlying 1,607,119 stock options granted throughout 2015. as a result , we determined that the fair value of the common shares in 2015 increased from $ 0.30 per common share at january 31 , 2015 to $ 3.72 per common share at december 31 , 2015 , which was higher than the fair value per share as initially determined by the board of directors on the respective grant dates of february 27 , 2015 , july 15 , 2015 and september 7 , 2015. the use of this higher share price increased both recognized and unrecognized share-based compensation expense . 59 in

