the trial met its primary endpoint by demonstrating that treatment with 5mg of ccx140 given orally once daily added to a standard of care angiotensin converting enzyme , or ace , inhibitor or angiotensin ii receptor blocker , or arb treatment resulted in a statistically significant improvement in urinary albumin to creatinine ratio , or uacr , beyond that achieved with standard of care alone . we are preparing to conduct an end-of-phase ii meeting with the u.s. food and drug administration , or fda . other inflammatory and autoimmune diseases : th-17 cell-driven inflammation and ccr6  th-17 driven cells have been implicated in a variety of autoimmune and inflammatory diseases such as psoriasis , rheumatoid arthritis , and asthma . th-17 cells express high levels of the chemokine receptor known as ccr6 , which induces their migration to and activation within disease sites . we have a preclinical program in the inhibition of ccr6 which has produced several unique ccr6 inhibitor leads that are now being optimized through medicinal chemistry approaches , which we plan to advance to a clinical candidate . vercirnon ( also known as traficet-en , or ccx282 ) is an inhibitor of the chemokine receptor known as ccr9 , and being developed as an orally administered therapy for the treatment of patients with moderate-to-severe crohn 's disease . vercirnon is ready to continue development in phase iii with a partner , should an alliance partner be identified for this program . ccx507 is our second generation ccr9 inhibitor for the treatment of inflammatory bowel disease , or ibd . ccx507 has successfully completed phase i clinical development , which demonstrated that ccx507 was safe and well-tolerated , and blocked ccr9 on circulating leukocytes . we also presented preclinical data with ccx507 in combination with an anti- a 4ß7 or anti-tnf antibody showing combined treatment reduced the severity of colitis better than monotherapy with either drug alone . all of our drug candidates are wholly owned and being developed independently by us . our strategy also includes identification of next generation compounds related to our drug candidates , all of which have been internally discovered . since commencing our operations in 1997 , our efforts have focused on research , development and the advancement of our drug candidates into and through clinical trials . as a result , we have incurred significant losses . we have funded our operations primarily through the sale of convertible preferred and common stock , contract revenue under our collaborations , government contracts and grants and borrowings under equipment financing arrangements . in february 2012 , we completed our initial public offering , or ipo , pursuant to which we received net proceeds of $ 45.0 million , after underwriting discounts , commissions and offering expenses . we also received gross proceeds of $ 12.0 million from concurrent private placements of common stock at the ipo price of $ 10.00 per share . in addition , the outstanding principal amount of $ 10.0 million and accrued interest under a convertible note we had issued to bio-techne corporation ( formerly techne corporation ) , or bio-techne , one of our principal stockholders , automatically converted into shares of our common stock in connection with our ipo at a conversion price equal to the ipo price . in april 2013 , we completed a follow-on public offering of 5,750,000 shares of our common stock at $ 12.00 per share . we received net proceeds of $ 64.4 million , after deducting underwriting discounts , commissions and offering expenses . as of december 31 , 2015 , we had an accumulated deficit of $ 267.1 million . we expect to continue to incur net losses as we develop our drug candidates , expand clinical trials for our drug candidates currently in clinical development , expand our research and development activities , expand our systems and facilities , seek regulatory approvals and engage in commercialization preparation activities in anticipation of fda approval of our drug candidates . in addition , if a product is approved for commercialization , we will need to expand our organization . significant capital is required to launch a product and many expenses are incurred before revenues are received . we are unable to predict the extent of any future losses or when we will become profitable , if at all . 65 jobs act in april 2012 , the jobs act was enacted . section 107 of the jobs act provides that an emerging growth company can utilize the extended transition period provided in section 7 ( a ) ( 2 ) ( b ) of the securities act for implementing new or revised accounting standards . in other words , an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies . we have elected to delay such adoption of new or revised accounting standards , and as a result , we may not implement new or revised accounting standards on the relevant dates on which adoption of such standards is required for other companies . subject to certain conditions set forth in the jobs act , as an emerging growth company , we intend to rely on certain of these exemptions , including without limitation , providing an auditor 's attestation report on our system of internal controls over financial reporting pursuant to section 404 and implementing any requirement that may be adopted regarding mandatory audit firm rotation or a supplement to the auditor 's report providing additional information about the audit and the financial statements ( auditor discussion and analysis ) . story_separator_special_tag the following table summarizes our research and development expenses by project ( in thousands ) : replace_table_token_8_th we track specific project expenses that are directly attributable to our preclinical and clinical development candidates that have been nominated and selected for further development . such project specific expenses include third-party contract costs relating to formulation , manufacturing , preclinical studies and clinical trial activities . unlike our early stage research and drug discovery programs , we allocate research and development salaries , benefits or indirect costs to our development candidates and we have included such costs in the project specific expenses . all remaining research and development expenses are reflected in other which represents early stage drug discovery programs . such expenses include unallocated employee salaries and related benefits , stock-based compensation , consulting and contracted services to supplement our in-house laboratory activities , laboratory consumables and allocated facility costs associated with these earlier stage programs . at any given time , we typically have several active early stage research and drug discovery projects . our internal resources , employees and infrastructure are not directly tied to any individual research or drug discovery 69 project and are typically deployed across multiple projects . as such , we do not maintain information regarding these costs incurred for our early stage research and drug discovery programs on a project specific basis . we expect our research and development expenses to increase as we advance our development programs further and increase the number and size of our clinical trials . the process of conducting preclinical studies and clinical trials necessary to obtain regulatory approval is costly and time consuming . we or our partners may never succeed in achieving marketing approval for any of our drug candidates . the probability of success for each drug candidate may be affected by numerous factors , including preclinical data , clinical data , competition , manufacturing capability and commercial viability . our strategy includes entering into additional partnerships with third parties for the development and commercialization of some of our independent drug candidates . most of our product development programs are at an early-to-mid-stage ; therefore the successful development of our drug candidates is highly uncertain and may not result in approved products . completion dates and completion costs can vary significantly for each drug candidate and are difficult to predict for each product . given the uncertainty associated with clinical trial enrollments and the risks inherent in the development process , we are unable to determine the duration and completion costs of the current or future clinical trials of our drug candidates or if , or to what extent , we will generate revenues from the commercialization and sale of any of our drug candidates . we anticipate 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 drug candidate , as well as ongoing assessment as to each drug candidate 's commercial potential . we will need to raise additional capital or may seek additional strategic alliances in the future in order to complete the development and commercialization of our drug candidates , including ccx168 , ccx140 , and vercirnon . general and administrative expenses total general and administrative expenses were as follows ( in thousands ) : replace_table_token_9_th general and administrative expenses consist primarily of salaries and related benefits , including stock-based compensation and travel expenses , in executive , finance , business and corporate development and other administrative functions . other general and administrative expenses include allocated facility-related costs not otherwise included in research and development expenses , legal costs of pursuing patent protection of our intellectual property , and professional fees for auditing , tax , and legal services . the increase from 2014 to 2015 was primarily due to increases in stock based compensation expense for stock option grants and restricted stock unit awards , intellectual property related expenses , and professional fees . further , travel expenses and professional fees relating to our business development efforts also contributed to the increase . the increase from 2013 to 2014 was primarily due to an increase in employment-related expenses , including stock-based compensation expense for stock option grants and restricted stock unit awards , intellectual property-related expenses , and professional service expenses relating to corporate governance and our business development efforts . we expect that general and administrative expenses will increase in the future as we expand our operating activities and incur additional costs associated with being a public company . these public company related increases will likely include , but not be limited to , investor and public relations expenses , legal and accounting related fees , and expenses associated with preparing to meet the requirements pursuant to the sarbanes-oxley act of 2002 . 70 other income ( expense ) other income ( expense ) primarily consists of interest income earned on our marketable securities and interest expense incurred on our equipment financing obligations . total other income , net , as compared to prior years was as follows ( in thousands ) : replace_table_token_10_th the decrease in total other income , net from 2014 to 2015 was primarily due to a decrease in interest income earned on lower cash balances , which was partially offset by a decrease in interest expense as a result of full repayment of our equipment financing debt in the fourth quarter of 2014. the increase in total other income , net from 2013 to 2014 was primarily due to a decrease in interest expense as a result of repayment of our equipment financing debt in 2014 , and a shift in the composition of the portfolio to treasuries and other government sponsored agency securities in 2014. story_separator_special_tag style= `` border-collapse : collapse `` width= `` 100 % `` > the extent to which we acquire or invest in businesses , products or

liquidity and capital resources as of december 31 , 2015 , we had approximately $ 76.3 million in cash , cash equivalents and investments . the following table shows a summary of our cash flows for each of the three years ended december 31 , 2015 , 2014 , and 2013 ( in thousands ) : replace_table_token_11_th operating activities . net cash used by operating activities increased to $ 39.3 million for the year ended december 31 , 2015 , from $ 34.3 million for the same period in 2014 due primarily to changes in working capital items and a higher net loss . net cash used by operating activities increased to $ 34.3 million for the year ended december 31 , 2014 , from $ 33.3 million for the same period in 2013 due primarily to a higher net loss in 2014. investing activities . net cash provided by or used in investing activities for periods presented primarily relate to the purchase , sale and maturity of investments used to fund the day-to-day needs of our business . following our february 2012 ipo and the follow-on public offering in april 2013 , we invested the majority of our net proceeds received in short-term and long-term investments .


 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 as of december 31 , 2015 , we had approximately $ 76.3 million in cash , cash equivalents and investments . the following table shows a summary of our cash flows for each of the three years ended december 31 , 2015 , 2014 , and 2013 ( in thousands ) : replace_table_token_11_th operating activities . net cash used by operating activities increased to $ 39.3 million for the year ended december 31 , 2015 , from $ 34.3 million for the same period in 2014 due primarily to changes in working capital items and a higher net loss . net cash used by operating activities increased to $ 34.3 million for the year ended december 31 , 2014 , from $ 33.3 million for the same period in 2013 due primarily to a higher net loss in 2014. investing activities . net cash provided by or used in investing activities for periods presented primarily relate to the purchase , sale and maturity of investments used to fund the day-to-day needs of our business . following our february 2012 ipo and the follow-on public offering in april 2013 , we invested the majority of our net proceeds received in short-term and long-term investments .
```    
 Suspicious Activity Report : the trial met its primary endpoint by demonstrating that treatment with 5mg of ccx140 given orally once daily added to a standard of care angiotensin converting enzyme , or ace , inhibitor or angiotensin ii receptor blocker , or arb treatment resulted in a statistically significant improvement in urinary albumin to creatinine ratio , or uacr , beyond that achieved with standard of care alone . we are preparing to conduct an end-of-phase ii meeting with the u.s. food and drug administration , or fda . other inflammatory and autoimmune diseases : th-17 cell-driven inflammation and ccr6  th-17 driven cells have been implicated in a variety of autoimmune and inflammatory diseases such as psoriasis , rheumatoid arthritis , and asthma . th-17 cells express high levels of the chemokine receptor known as ccr6 , which induces their migration to and activation within disease sites . we have a preclinical program in the inhibition of ccr6 which has produced several unique ccr6 inhibitor leads that are now being optimized through medicinal chemistry approaches , which we plan to advance to a clinical candidate . vercirnon ( also known as traficet-en , or ccx282 ) is an inhibitor of the chemokine receptor known as ccr9 , and being developed as an orally administered therapy for the treatment of patients with moderate-to-severe crohn 's disease . vercirnon is ready to continue development in phase iii with a partner , should an alliance partner be identified for this program . ccx507 is our second generation ccr9 inhibitor for the treatment of inflammatory bowel disease , or ibd . ccx507 has successfully completed phase i clinical development , which demonstrated that ccx507 was safe and well-tolerated , and blocked ccr9 on circulating leukocytes . we also presented preclinical data with ccx507 in combination with an anti- a 4ß7 or anti-tnf antibody showing combined treatment reduced the severity of colitis better than monotherapy with either drug alone . all of our drug candidates are wholly owned and being developed independently by us . our strategy also includes identification of next generation compounds related to our drug candidates , all of which have been internally discovered . since commencing our operations in 1997 , our efforts have focused on research , development and the advancement of our drug candidates into and through clinical trials . as a result , we have incurred significant losses . we have funded our operations primarily through the sale of convertible preferred and common stock , contract revenue under our collaborations , government contracts and grants and borrowings under equipment financing arrangements . in february 2012 , we completed our initial public offering , or ipo , pursuant to which we received net proceeds of $ 45.0 million , after underwriting discounts , commissions and offering expenses . we also received gross proceeds of $ 12.0 million from concurrent private placements of common stock at the ipo price of $ 10.00 per share . in addition , the outstanding principal amount of $ 10.0 million and accrued interest under a convertible note we had issued to bio-techne corporation ( formerly techne corporation ) , or bio-techne , one of our principal stockholders , automatically converted into shares of our common stock in connection with our ipo at a conversion price equal to the ipo price . in april 2013 , we completed a follow-on public offering of 5,750,000 shares of our common stock at $ 12.00 per share . we received net proceeds of $ 64.4 million , after deducting underwriting discounts , commissions and offering expenses . as of december 31 , 2015 , we had an accumulated deficit of $ 267.1 million . we expect to continue to incur net losses as we develop our drug candidates , expand clinical trials for our drug candidates currently in clinical development , expand our research and development activities , expand our systems and facilities , seek regulatory approvals and engage in commercialization preparation activities in anticipation of fda approval of our drug candidates . in addition , if a product is approved for commercialization , we will need to expand our organization . significant capital is required to launch a product and many expenses are incurred before revenues are received . we are unable to predict the extent of any future losses or when we will become profitable , if at all . 65 jobs act in april 2012 , the jobs act was enacted . section 107 of the jobs act provides that an emerging growth company can utilize the extended transition period provided in section 7 ( a ) ( 2 ) ( b ) of the securities act for implementing new or revised accounting standards . in other words , an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies . we have elected to delay such adoption of new or revised accounting standards , and as a result , we may not implement new or revised accounting standards on the relevant dates on which adoption of such standards is required for other companies . subject to certain conditions set forth in the jobs act , as an emerging growth company , we intend to rely on certain of these exemptions , including without limitation , providing an auditor 's attestation report on our system of internal controls over financial reporting pursuant to section 404 and implementing any requirement that may be adopted regarding mandatory audit firm rotation or a supplement to the auditor 's report providing additional information about the audit and the financial statements ( auditor discussion and analysis ) . story_separator_special_tag the following table summarizes our research and development expenses by project ( in thousands ) : replace_table_token_8_th we track specific project expenses that are directly attributable to our preclinical and clinical development candidates that have been nominated and selected for further development . such project specific expenses include third-party contract costs relating to formulation , manufacturing , preclinical studies and clinical trial activities . unlike our early stage research and drug discovery programs , we allocate research and development salaries , benefits or indirect costs to our development candidates and we have included such costs in the project specific expenses . all remaining research and development expenses are reflected in other which represents early stage drug discovery programs . such expenses include unallocated employee salaries and related benefits , stock-based compensation , consulting and contracted services to supplement our in-house laboratory activities , laboratory consumables and allocated facility costs associated with these earlier stage programs . at any given time , we typically have several active early stage research and drug discovery projects . our internal resources , employees and infrastructure are not directly tied to any individual research or drug discovery 69 project and are typically deployed across multiple projects . as such , we do not maintain information regarding these costs incurred for our early stage research and drug discovery programs on a project specific basis . we expect our research and development expenses to increase as we advance our development programs further and increase the number and size of our clinical trials . the process of conducting preclinical studies and clinical trials necessary to obtain regulatory approval is costly and time consuming . we or our partners may never succeed in achieving marketing approval for any of our drug candidates . the probability of success for each drug candidate may be affected by numerous factors , including preclinical data , clinical data , competition , manufacturing capability and commercial viability . our strategy includes entering into additional partnerships with third parties for the development and commercialization of some of our independent drug candidates . most of our product development programs are at an early-to-mid-stage ; therefore the successful development of our drug candidates is highly uncertain and may not result in approved products . completion dates and completion costs can vary significantly for each drug candidate and are difficult to predict for each product . given the uncertainty associated with clinical trial enrollments and the risks inherent in the development process , we are unable to determine the duration and completion costs of the current or future clinical trials of our drug candidates or if , or to what extent , we will generate revenues from the commercialization and sale of any of our drug candidates . we anticipate 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 drug candidate , as well as ongoing assessment as to each drug candidate 's commercial potential . we will need to raise additional capital or may seek additional strategic alliances in the future in order to complete the development and commercialization of our drug candidates , including ccx168 , ccx140 , and vercirnon . general and administrative expenses total general and administrative expenses were as follows ( in thousands ) : replace_table_token_9_th general and administrative expenses consist primarily of salaries and related benefits , including stock-based compensation and travel expenses , in executive , finance , business and corporate development and other administrative functions . other general and administrative expenses include allocated facility-related costs not otherwise included in research and development expenses , legal costs of pursuing patent protection of our intellectual property , and professional fees for auditing , tax , and legal services . the increase from 2014 to 2015 was primarily due to increases in stock based compensation expense for stock option grants and restricted stock unit awards , intellectual property related expenses , and professional fees . further , travel expenses and professional fees relating to our business development efforts also contributed to the increase . the increase from 2013 to 2014 was primarily due to an increase in employment-related expenses , including stock-based compensation expense for stock option grants and restricted stock unit awards , intellectual property-related expenses , and professional service expenses relating to corporate governance and our business development efforts . we expect that general and administrative expenses will increase in the future as we expand our operating activities and incur additional costs associated with being a public company . these public company related increases will likely include , but not be limited to , investor and public relations expenses , legal and accounting related fees , and expenses associated with preparing to meet the requirements pursuant to the sarbanes-oxley act of 2002 . 70 other income ( expense ) other income ( expense ) primarily consists of interest income earned on our marketable securities and interest expense incurred on our equipment financing obligations . total other income , net , as compared to prior years was as follows ( in thousands ) : replace_table_token_10_th the decrease in total other income , net from 2014 to 2015 was primarily due to a decrease in interest income earned on lower cash balances , which was partially offset by a decrease in interest expense as a result of full repayment of our equipment financing debt in the fourth quarter of 2014. the increase in total other income , net from 2013 to 2014 was primarily due to a decrease in interest expense as a result of repayment of our equipment financing debt in 2014 , and a shift in the composition of the portfolio to treasuries and other government sponsored agency securities in 2014. story_separator_special_tag style= `` border-collapse : collapse `` width= `` 100 % `` > the extent to which we acquire or invest in businesses , products or

