the extent to which the coronavirus impacts us will depend on future developments , which are highly uncertain and can not be predicted , including new information which may emerge concerning the severity of the coronavirus and the actions to contain the coronavirus or treat its impact , among others . our ability to enroll our clinical trials will be dependent on many factors , including the progression of the pandemic and its impact on patients and the investigators at our clinical trial sites . we are actively working with sites and investigators to mitigate these risks . over the coming weeks and months , we will continue to carefully monitor the situation with respect to each of our clinical trials and follow guidance from local and federal health authorities . phenylketonuria our most advanced product candidate is synb1618 , an oral therapy intended for the treatment of pku , a rare metabolic disease in which phe accumulates in the body as a result of genetic defects . elevated levels of phe are toxic to the brain and can lead to neurological dysfunction . synb1618 is designed to function in the gut of patients to reduce excess phe , with the goal of lowering levels in the blood and other tissues . synb1618 has received both fast track designation and orphan drug designation for pku from the u.s. food and drug administration ( fda ) . we initiated a phase 1/2a clinical trial of an early liquid formulation of synb1618 in april 2018 and announced top-line data from healthy volunteers evaluated in this study in september 2018. in july 2019 , we announced data that demonstrated that synb1618 was safe and well-tolerated and achieved proof-of-mechanism of strain activity in both healthy volunteers and patients with pku . synb1618 is a member of a family of synb strains which consume phe . we have additional phe consuming strains for pku in preclinical development . we have evaluated a lyophilized formulation of synb1618 in a bridging study in healthy volunteers . the study of this more patient- and commercialization-appropriate presentation of synb1618 demonstrated improved tolerability over the early liquid formulation . the next step for synb1618 is to conduct a phase 2 clinical trial . the phase 2 trial , referred to as the synpheny-1 study , is designed to evaluate safety and tolerability of a solid formulation of synb1618 as well as its potential to lower blood phe levels in adult pku patients . we continue to evaluate our clinical program progress as a result of the ongoing covid-19 pandemic . the synpheny-1 study is designed to be flexible , with subjects physically coming to the clinic or participating from the patient 's home utilizing home healthcare services . we initiated this study in the third quarter of 2020. enteric hyperoxaluria enteric hyperoxaluria is an acquired metabolic disorder with no approved treatment options . it is caused by increased absorption of dietary oxalate , which is present in many common foods including leafy greens , nuts , and chocolate . enteric hyperoxaluria often occurs as a result of a primary insult to the bowel , such as inflammatory bowel disease , short bowel syndrome , or surgical procedures such as roux-en-y bariatric weight-loss surgery . the disorder may cause dangerously high levels of urinary oxalate and progressive kidney damage . the disorder can lead to high levels of urinary oxalate , which causes progressive kidney damage , kidney stone formation , and nephrocalcinosis . in may 2020 , we announced the nomination of a clinical candidate for enteric hyperoxaluria , synb8802 . we initiated a phase 1 clinical trial of synb8802 in the fourth quarter of 2020. synb8802 will be assessed for safety and tolerability , strain kinetics , changes in plasma and urine biomarkers of strain activity , and the potential to reduce urinary oxalate in the phase 1 clinical study . the study has two parts : part a is a multiple ascending dose study in healthy volunteers in whom we will induce temporary hyperoxaluria via diet ; part b is a placebo controlled , cross-over design study in patients with enteric hyperoxaluria following roux-n-y gastric bypass surgery . oncology we have also developed a portfolio of synthetic biotic medicines to treat certain cancers which are designed to modify the tumor microenvironment , activate the immune system and result in tumor reduction . these synthetic biotic medicines could be used in combination with other cancer therapies such as checkpoint inhibitors . our first synthetic biotic clinical immuno-oncology ( “ io ” ) candidate is synb1891 , an intratumorally administered synthetic biotic medicine engineered to act as a dual innate and adaptive 66 immune activator . synb1891 has been designed to activate the immune response in tumors via the e.coli nissle chassis and production of cyclic di-amp , an activator of the stimulator of interferon genes , also referred to as the sting pathway . in january 2020 , we treated the first subject in a phase 1 clinical trial of synb1891 in patients with advanced solid tumors and lymphoma . the clinical trial is designed to identify a maximum tolerated dose ( mtd ) of synb1891 delivered as a monotherapy . once an mtd is identified , we will evaluate treatment of patients with a combination of synb1891 and the checkpoint inhibitor atezolizumab ( tecentriq ) , provided through a supply agreement with roche . despite the covid-19 pandemic , the phase 1 clinical trial has remained open and currently enrolled patients are continuing on trial . new patient enrollment in the study is also continuing . we released interim data from the ongoing monotherapy arm of this trial in december of 2020 which demonstrated target engagement and the production of biomarkers consistent with sting activation . in december of 2020 we also initiated the combination arm of the phase 1 clinical trial . story_separator_special_tag 70 research and development services if an arrangement is determined to contain a promise or obligation for us to perform research and development services , we must determine whether these services are distinct from the other promises in the arrangement . in assessing whether the services are distinct from the other promises , we consider the capabilities of the customer to perform these same services . in addition , we consider whether the customer can benefit from a promise for its intended purpose without the receipt of the remaining promise , whether the value of the promise is dependent on the unsatisfied promise , whether there are other vendors that could provide the remaining promise , and whether it is separately identifiable from the remaining promise . for research and development services that are combined with other promises , we utilize judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and , if over time , the appropriate method of measuring progress for purposes of recognizing revenue . we evaluate the measure of progress each reporting period and , if necessary , adjusts the measure of performance and related revenue recognition . customer options if an arrangement is determined to contain customer options that allow the customer to acquire additional goods or services , the goods and services underlying the customer options are not considered to be performance obligations at the outset of the arrangement , as they are contingent upon option exercise . we evaluate the customer options for material rights , that is , the option to acquire additional goods or services for free or at a discount . if the customer options are determined to represent a material right , the material right is recognized as a separate performance obligation at the outset of the arrangement . we allocate the transaction price to material rights based on an alternative approach when the goods or services are both ( i ) similar to the original goods and services in the contract and ( ii ) provided in accordance with the terms of the original contract . under this alternative , we allocate the total amount of consideration expected to be received from the customer to the total goods or services expected to be provided to the customer . amounts allocated to a material right are not recognized as revenue until the option is exercised and the performance obligation is satisfied . milestone payments at the inception of each arrangement that includes milestone payments , we evaluate whether a significant reversal of cumulative revenue provided in conjunction with achieving the milestones is probable and estimate the amount to be included in the transaction price using the most likely amount method . if it is probable that a significant reversal of cumulative revenue would not occur , the associated milestone value is included in the transaction price . milestone payments that are not within our control or the licensee , such as regulatory approvals , are not considered probable of being achieved until those approvals are received . for other milestones , we evaluate factors such as the scientific , clinical , regulatory , commercial , and other risks that must be overcome to achieve the particular milestone in making this assessment . there is considerable judgment involved in determining whether it is probable that a significant reversal of cumulative revenue would not occur . at the end of each subsequent reporting period , we reevaluate the probability of achievement of all milestones subject to constraint and , if necessary , adjusts our estimate of the overall transaction price . any such adjustments are recorded on a cumulative catch-up basis , which would affect revenues and earnings in the period of adjustment . royalties for arrangements that include sales-based royalties , including milestone payments based on a level of sales , and the license is deemed to be the predominant item to which the royalties relate , we recognize revenue at the later of ( i ) when the related sales occur , or ( ii ) when the performance obligation to which some or all of the royalty has been allocated has been satisfied ( or partially satisfied ) . to date , we have not recognized any royalty revenue resulting from any of our licensing arrangements . contract costs we recognize as an asset the incremental costs of obtaining a contract with a customer if the costs are expected to be recovered . as a practical expedient , we recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less . to date , we have not incurred any incremental costs of obtaining a contract with a customer . research and development expense all research and development expenses are expensed as incurred . research and development expenses comprise costs incurred in performing research and development activities , including compensation , benefits and other employee costs ; equity‑based compensation expense ; laboratory and clinical supplies and other direct expenses ; facilities expenses ; overhead expenses ; fees for contractual services , including preclinical studies , clinical trials , clinical manufacturing and raw materials ; and other external expenses . nonrefundable advance payments for research and development activities are capitalized and expensed over the related service period or as goods are received and services are performed . when third-party service providers ' billing terms do not coincide with our period-end , we are required to make estimates of our obligations to those third parties , including clinical trial costs , contractual service costs and costs for supply of our drug candidates , incurred in a given accounting period and record accruals at the end of the period . we base our estimates on the completion status of the research and development programs

liquidity and capital resources we have incurred losses since our inception on march 14 , 2014 and , as of december 31 , 2020 , we had an accumulated deficit of approximately $ 230.3 million . we have financed our operations to date primarily through the sale of preferred stock , common stock , preferred units , warrants , payments received under our prior abbvie collaboration agreement , interest earned on investments , and cash received in the merger . during the year ended december 31 , 2020 , we received net proceeds of $ 13.5 million from the sale of 5,866,258 shares of our common stock in the atm offering program . in june 2019 , we issued to ginkgo 6,340,771 shares of common stock and accompanying pre-funded warrants ( the “ pre-funded warrants ” ) to purchase an aggregate of 2,548,117 shares of common stock , at a combined purchase price per share and pre-funded warrant of $ 9.00. the pre-funded warrants have an exercise price of $ 9.00 per share , with $ 8.99 of such exercise price paid at the closing of the offering . the net proceeds to us were approximately $ 79.9 million . at december 31 , 2020 , we had approximately $ 100.4 million in cash , cash equivalents , and short-term marketable securities . our cash and cash equivalents include amounts held in money market funds , stated at cost plus unrealized gain and loss , which approximates fair market value .


 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 losses since our inception on march 14 , 2014 and , as of december 31 , 2020 , we had an accumulated deficit of approximately $ 230.3 million . we have financed our operations to date primarily through the sale of preferred stock , common stock , preferred units , warrants , payments received under our prior abbvie collaboration agreement , interest earned on investments , and cash received in the merger . during the year ended december 31 , 2020 , we received net proceeds of $ 13.5 million from the sale of 5,866,258 shares of our common stock in the atm offering program . in june 2019 , we issued to ginkgo 6,340,771 shares of common stock and accompanying pre-funded warrants ( the “ pre-funded warrants ” ) to purchase an aggregate of 2,548,117 shares of common stock , at a combined purchase price per share and pre-funded warrant of $ 9.00. the pre-funded warrants have an exercise price of $ 9.00 per share , with $ 8.99 of such exercise price paid at the closing of the offering . the net proceeds to us were approximately $ 79.9 million . at december 31 , 2020 , we had approximately $ 100.4 million in cash , cash equivalents , and short-term marketable securities . our cash and cash equivalents include amounts held in money market funds , stated at cost plus unrealized gain and loss , which approximates fair market value .
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 Suspicious Activity Report : the extent to which the coronavirus impacts us will depend on future developments , which are highly uncertain and can not be predicted , including new information which may emerge concerning the severity of the coronavirus and the actions to contain the coronavirus or treat its impact , among others . our ability to enroll our clinical trials will be dependent on many factors , including the progression of the pandemic and its impact on patients and the investigators at our clinical trial sites . we are actively working with sites and investigators to mitigate these risks . over the coming weeks and months , we will continue to carefully monitor the situation with respect to each of our clinical trials and follow guidance from local and federal health authorities . phenylketonuria our most advanced product candidate is synb1618 , an oral therapy intended for the treatment of pku , a rare metabolic disease in which phe accumulates in the body as a result of genetic defects . elevated levels of phe are toxic to the brain and can lead to neurological dysfunction . synb1618 is designed to function in the gut of patients to reduce excess phe , with the goal of lowering levels in the blood and other tissues . synb1618 has received both fast track designation and orphan drug designation for pku from the u.s. food and drug administration ( fda ) . we initiated a phase 1/2a clinical trial of an early liquid formulation of synb1618 in april 2018 and announced top-line data from healthy volunteers evaluated in this study in september 2018. in july 2019 , we announced data that demonstrated that synb1618 was safe and well-tolerated and achieved proof-of-mechanism of strain activity in both healthy volunteers and patients with pku . synb1618 is a member of a family of synb strains which consume phe . we have additional phe consuming strains for pku in preclinical development . we have evaluated a lyophilized formulation of synb1618 in a bridging study in healthy volunteers . the study of this more patient- and commercialization-appropriate presentation of synb1618 demonstrated improved tolerability over the early liquid formulation . the next step for synb1618 is to conduct a phase 2 clinical trial . the phase 2 trial , referred to as the synpheny-1 study , is designed to evaluate safety and tolerability of a solid formulation of synb1618 as well as its potential to lower blood phe levels in adult pku patients . we continue to evaluate our clinical program progress as a result of the ongoing covid-19 pandemic . the synpheny-1 study is designed to be flexible , with subjects physically coming to the clinic or participating from the patient 's home utilizing home healthcare services . we initiated this study in the third quarter of 2020. enteric hyperoxaluria enteric hyperoxaluria is an acquired metabolic disorder with no approved treatment options . it is caused by increased absorption of dietary oxalate , which is present in many common foods including leafy greens , nuts , and chocolate . enteric hyperoxaluria often occurs as a result of a primary insult to the bowel , such as inflammatory bowel disease , short bowel syndrome , or surgical procedures such as roux-en-y bariatric weight-loss surgery . the disorder may cause dangerously high levels of urinary oxalate and progressive kidney damage . the disorder can lead to high levels of urinary oxalate , which causes progressive kidney damage , kidney stone formation , and nephrocalcinosis . in may 2020 , we announced the nomination of a clinical candidate for enteric hyperoxaluria , synb8802 . we initiated a phase 1 clinical trial of synb8802 in the fourth quarter of 2020. synb8802 will be assessed for safety and tolerability , strain kinetics , changes in plasma and urine biomarkers of strain activity , and the potential to reduce urinary oxalate in the phase 1 clinical study . the study has two parts : part a is a multiple ascending dose study in healthy volunteers in whom we will induce temporary hyperoxaluria via diet ; part b is a placebo controlled , cross-over design study in patients with enteric hyperoxaluria following roux-n-y gastric bypass surgery . oncology we have also developed a portfolio of synthetic biotic medicines to treat certain cancers which are designed to modify the tumor microenvironment , activate the immune system and result in tumor reduction . these synthetic biotic medicines could be used in combination with other cancer therapies such as checkpoint inhibitors . our first synthetic biotic clinical immuno-oncology ( “ io ” ) candidate is synb1891 , an intratumorally administered synthetic biotic medicine engineered to act as a dual innate and adaptive 66 immune activator . synb1891 has been designed to activate the immune response in tumors via the e.coli nissle chassis and production of cyclic di-amp , an activator of the stimulator of interferon genes , also referred to as the sting pathway . in january 2020 , we treated the first subject in a phase 1 clinical trial of synb1891 in patients with advanced solid tumors and lymphoma . the clinical trial is designed to identify a maximum tolerated dose ( mtd ) of synb1891 delivered as a monotherapy . once an mtd is identified , we will evaluate treatment of patients with a combination of synb1891 and the checkpoint inhibitor atezolizumab ( tecentriq ) , provided through a supply agreement with roche . despite the covid-19 pandemic , the phase 1 clinical trial has remained open and currently enrolled patients are continuing on trial . new patient enrollment in the study is also continuing . we released interim data from the ongoing monotherapy arm of this trial in december of 2020 which demonstrated target engagement and the production of biomarkers consistent with sting activation . in december of 2020 we also initiated the combination arm of the phase 1 clinical trial . story_separator_special_tag 70 research and development services if an arrangement is determined to contain a promise or obligation for us to perform research and development services , we must determine whether these services are distinct from the other promises in the arrangement . in assessing whether the services are distinct from the other promises , we consider the capabilities of the customer to perform these same services . in addition , we consider whether the customer can benefit from a promise for its intended purpose without the receipt of the remaining promise , whether the value of the promise is dependent on the unsatisfied promise , whether there are other vendors that could provide the remaining promise , and whether it is separately identifiable from the remaining promise . for research and development services that are combined with other promises , we utilize judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and , if over time , the appropriate method of measuring progress for purposes of recognizing revenue . we evaluate the measure of progress each reporting period and , if necessary , adjusts the measure of performance and related revenue recognition . customer options if an arrangement is determined to contain customer options that allow the customer to acquire additional goods or services , the goods and services underlying the customer options are not considered to be performance obligations at the outset of the arrangement , as they are contingent upon option exercise . we evaluate the customer options for material rights , that is , the option to acquire additional goods or services for free or at a discount . if the customer options are determined to represent a material right , the material right is recognized as a separate performance obligation at the outset of the arrangement . we allocate the transaction price to material rights based on an alternative approach when the goods or services are both ( i ) similar to the original goods and services in the contract and ( ii ) provided in accordance with the terms of the original contract . under this alternative , we allocate the total amount of consideration expected to be received from the customer to the total goods or services expected to be provided to the customer . amounts allocated to a material right are not recognized as revenue until the option is exercised and the performance obligation is satisfied . milestone payments at the inception of each arrangement that includes milestone payments , we evaluate whether a significant reversal of cumulative revenue provided in conjunction with achieving the milestones is probable and estimate the amount to be included in the transaction price using the most likely amount method . if it is probable that a significant reversal of cumulative revenue would not occur , the associated milestone value is included in the transaction price . milestone payments that are not within our control or the licensee , such as regulatory approvals , are not considered probable of being achieved until those approvals are received . for other milestones , we evaluate factors such as the scientific , clinical , regulatory , commercial , and other risks that must be overcome to achieve the particular milestone in making this assessment . there is considerable judgment involved in determining whether it is probable that a significant reversal of cumulative revenue would not occur . at the end of each subsequent reporting period , we reevaluate the probability of achievement of all milestones subject to constraint and , if necessary , adjusts our estimate of the overall transaction price . any such adjustments are recorded on a cumulative catch-up basis , which would affect revenues and earnings in the period of adjustment . royalties for arrangements that include sales-based royalties , including milestone payments based on a level of sales , and the license is deemed to be the predominant item to which the royalties relate , we recognize revenue at the later of ( i ) when the related sales occur , or ( ii ) when the performance obligation to which some or all of the royalty has been allocated has been satisfied ( or partially satisfied ) . to date , we have not recognized any royalty revenue resulting from any of our licensing arrangements . contract costs we recognize as an asset the incremental costs of obtaining a contract with a customer if the costs are expected to be recovered . as a practical expedient , we recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less . to date , we have not incurred any incremental costs of obtaining a contract with a customer . research and development expense all research and development expenses are expensed as incurred . research and development expenses comprise costs incurred in performing research and development activities , including compensation , benefits and other employee costs ; equity‑based compensation expense ; laboratory and clinical supplies and other direct expenses ; facilities expenses ; overhead expenses ; fees for contractual services , including preclinical studies , clinical trials , clinical manufacturing and raw materials ; and other external expenses . nonrefundable advance payments for research and development activities are capitalized and expensed over the related service period or as goods are received and services are performed . when third-party service providers ' billing terms do not coincide with our period-end , we are required to make estimates of our obligations to those third parties , including clinical trial costs , contractual service costs and costs for supply of our drug candidates , incurred in a given accounting period and record accruals at the end of the period . we base our estimates on the completion status of the research and development programs

