guidelines for the management of very high triglyceride levels suggest that reducing triglyceride levels is the primary goal in patients to reduce the risk of acute pancreatitis . the effect of vascepa on cardiovascular mortality and morbidity , or the risk for pancreatitis , in patients with hypertriglyceridemia has not been determined . the potential efficacy and safety of vascepa ( known in its development stage as amr 101 ) was studied in two phase 3 clinical trials , the marine trial and the anchor trial . at a daily dose of 4 grams of vascepa , the dose at which vascepa is fda approved , these trials showed favorable clinical results in their respective patient populations in reducing triglyceride levels without increasing ldl-c levels in the marine trial and with a statistically significant decrease in ldl-c levels in the anchor trial , in each case , relative to placebo . these trials also showed favorable results , particularly with the 4-gram dose of vascepa , in other important lipid and inflammation biomarkers , including apolipoprotein b ( apo b ) , non-high-density lipoprotein cholesterol ( non-hdl-c ) , total-cholesterol ( tc ) , very low-density lipoprotein cholesterol ( vldl-c ) , lipoprotein-associated 61 phospholipase a2 ( lp-pla2 ) , and high sensitivity c-reactive protein ( hs-crp ) . in these trials , the most commonly reported adverse reaction ( incidence > 2 % and greater than placebo ) in vascepa-treated patients was arthralgia ( joint pain ) ( 2.3 % for vascepa vs. 1.0 % for placebo ) . we are also developing vascepa for the treatment of patients with high ( tg ³ 200 mg/dl and < 500 mg/dl ) triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol , or ldl-c , levels which we refer to as mixed dyslipidemia . we refer to this second proposed indication for vascepa as the anchor indication . the fda has stated that it views the proposed anchor indication as ostensibly and impliedly an indication to reduce cardiovascular risk . in addition , in december 2011 , we announced commencement of patient dosing in our cardiovascular outcomes study of vascepa , titled reduce-it ( reduction of cardiovascular events with epaintervention trial ) . the reduce-it study is designed to evaluate the efficacy of vascepa in reducing major cardiovascular events in a high risk patient population on statin therapy . we have a pending supplemental new drug application , or snda , with the fda that seeks marketing approval of vascepa for use in the anchor indication . on october 16 , 2013 , the fda convened an advisory committee to review our snda . this advisory committee was not asked by the fda to evaluate whether vascepa is effective in lowering triglycerides in the studied population , the anchor indication as specified in the snda . rather , the advisory panel was asked whether vascepa has been demonstrated to improve cardiovascular outcomes or whether approval of the anchor indication should wait for successful completion of the reduce-it study , the first prospective study of cardiovascular outcomes in patients who have high triglyceride levels despite statin therapy . the advisory committee voted 9 to 2 against recommending approval of the anchor indication based on information presented at the meeting . the fda considers the recommendation of advisory committees , but final decisions on the approval of new drug applications are made by the fda . the anchor trial clinical study was conducted under a special protocol assessment , or spa , agreement with the fda . the law governing spa agreements requires that if the results of the trial conducted under the spa substantiate the hypothesis of the protocol covered by the spa , the fda must use the data from the protocol as part of the primary basis for approval of the product . a spa agreement is not a guarantee of fda approval of the related new drug application . a spa agreement is generally binding upon the fda except in limited circumstances , such as if the fda identifies a substantial scientific issue essential to determining safety or efficacy of the drug after the study begins that rises to the level of a public health concern , or if the study sponsor fails to follow the protocol that was agreed upon with the fda . on october 29 , 2013 , the fda rescinded the anchor study spa agreement because the fda determined that a substantial scientific issue essential to determining the effectiveness of vascepa in the studied population was identified after testing began . as a basis for this determination , the fda communicated that it determined that the cumulative results from outcome studies of other triglyceride-lowering drugs failed to support the hypothesis that a triglyceride-lowering drug significantly reduces the risk for cardiovascular events among the population studied in the anchor trial . thus , the fda stated that while information we submitted supports testing the hypothesis that vascepa 4 grams/day versus placebo reduces major adverse cardiovascular events in statin-treated subjects with residually high triglyceride levels , as is being studied in the vascepa reduce-it cardiovascular outcomes study , the fda no longer considers a change in serum triglyceride levels as sufficient to establish the effectiveness of a drug intended to reduce cardiovascular risk in subjects with serum triglyceride levels below 500 mg/dl . in november 2013 , we submitted to the fda a request for reconsideration of its decision to rescind the anchor spa agreement . on january 17 , 2014 , we were notified by the fda that it does not intend to reinstate the anchor spa agreement . our plan is to continue appealing the rescission decision to successively higher administrative levels within the fda in accordance with fda dispute resolution guidance . story_separator_special_tag in accordance with gaap , until we have the ability to reliably estimate returns of vascepa from our distributors , revenue will be recognized based on the resale of vascepa for the purposes of filling patient prescriptions , and not based on sales from us to such distributors . consistent with industry practice , once we achieve sufficient history such that we can reliably estimate returns based on sales to our distributors , we anticipate that our revenues will be recognized based on sales to our distributors . we currently defer vascepa revenue recognition until the earlier of the product being resold for purposes of filling patient prescriptions ; and the expiration of the right of return ( twelve months after the expiration date of the product ) . we also defer the related cost of product sales and record such amounts as finished goods inventory held by others until revenue related to such product sales is recognized . as of december 31 , 2013 , we had experienced deminimus product returns . we have written contracts with our distributors , and delivery occurs when a distributor receives vascepa . we evaluate the creditworthiness of each of our distributors to determine whether revenues can be recognized upon 66 delivery , subject to satisfaction of the other requirements , or whether recognition is required to be delayed until receipt of payment . in order to conclude that the price is fixed or determinable , we must be able to ( i ) calculate our gross product revenues from the sales to distributors and ( ii ) reasonably estimate our net product revenues . we calculate gross product revenues based on the wholesale acquisition cost that we charge our distributors for vascepa . we estimate our net product revenues by deducting from our gross product revenues ( a ) trade allowances , such as invoice discounts for prompt payment and distributor fees , ( b ) estimated government and private payor rebates , chargebacks and discounts , such as medicaid reimbursements , ( c ) reserves for expected product returns and ( d ) estimated costs of incentives offered to certain indirect customers , including patients . derivative financial liabilities derivative financial liabilities are initially recorded at fair value . they are subsequently held at fair value , with gains and losses arising for changes in fair value recognized in the statement of operations . the fair value of derivative financial liabilities is determined using valuation techniques ; typically we use the black-scholes option pricing model . we use our judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at each balance sheet date . fluctuations in the assumptions used in the valuation model would result in adjustments to the fair value of the warrant derivative liability reflected on our balance sheet and , therefore , our statement of operations . if we issue shares to discharge the liability , the derivative financial liability is derecognized and common stock and additional paid-in capital are recognized on the issuance of those shares . for options and warrants treated as derivative financial liabilities , at settlement date the carrying value of the options and warrants are transferred to equity . the cash proceeds received from shareholders for additional shares are recorded in common stock and additional paid-in capital . we recorded a financial derivative related to the change in control provision associated with our december 2012 debt financing . during 2013 , we recorded a derivative liability related to our forward foreign exchange contracts , which was extinguished prior to december 31 , 2013. the fair value of these derivatives could fluctuate based on changes in the assumptions used in the valuation models . inventory prior to july 26 , 2012 , when we received approval from the fda to market and sell vascepa in the united states for the marine indication , vascepa was considered a product candidate under development . all supply of vascepa purchased prior to july 26 , 2012 was not capitalized and instead charged as a component of research and development expense in the period received . after vascepa was approved , we began to capitalize inventory purchased from nisshin , the api supplier approved in the nda . prior to april 2013 , only nisshin was an fda-approved supplier of api for vascepa . in april 2013 , the fda approved our sndas covering chemport and basf as additional vascepa api suppliers . all supply from chemport and basf prior to fda approval of these api suppliers was not capitalized and instead charged as a component of research and development expense in the period received . subsequent to the approval of these suppliers , we capitalize api purchases from them . we are working with slanmhor to pursue fda approval for slanmhor to manufacture vascepa api and submitted an snda in august 2013. until an api supplier is approved , all vascepa api purchased from such supplier is included as a component of research and development expense . upon snda approval of each additional supplier , we capitalize subsequent vascepa api purchases from such supplier as inventory . purchases of vascepa api received and expensed before such regulatory approvals are not subsequently capitalized , and all such purchases are quarantined and not used for commercial supply until such time as the snda for the supplier that produced the api is approved . additionally , the determination of the classification of our inventory requires the use of estimates in order to determine the portion of inventories anticipated to be utilized within twelve months of the balance sheet date . income taxes deferred tax assets and liabilities are recognized for the future tax consequences of differences between the carrying amounts and tax bases of assets and liabilities and operating loss carryforwards and other attributes using enacted rates expected to be in effect when those differences reverse . valuation allowances are provided

liquidity and capital resources our sources of liquidity as of december 31 , 2013 include cash and cash equivalents of $ 191.5 million . our projected uses of cash include commercialization of vascepa for the marine indication , preparations for commercialization of vascepa for the anchor indication , if approved , the continued funding of the reduce-it cardiovascular outcomes study , working capital and other general corporate activities . our cash flows from operating , investing and financing activities , as reflected in the consolidated statements of cash flows , are summarized in the following table ( in millions ) : replace_table_token_11_th in july 2013 , we sold 21.7 million shares of our common shares , par value £0.50 per share , at a price of $ 5.60 per share , resulting in net proceeds of approximately $ 121.2 million after deducting underwriting commissions and expenses payable by us associated with this transaction . on december 6 , 2012 we entered into a financing agreement with biopharma . under this agreement , we granted to biopharma a security interest in future receivables and all related rights to vascepa , in exchange for $ 100 million received at the closing of the agreement which closing occurred in december 2012. we have agreed to repay biopharma up to $ 150 million of future revenue and receivables . the first repayment under the agreement was a repayment of $ 0.8 million of interest in november 2013 , reflective of the option reduction described below . additional quarterly repayments are due thereafter in accordance with the following schedule : $ 2.5 million of interest in the first quarter of 2014 ; $ 8.0 million per quarter in each of the next four quarters , $ 10.0 million per quarter in each of the next four quarters , $ 15.0 million per quarter in each of the next four quarters and a final payment of $ 13.0 million due in may 2017. the quarterly repayments through the third quarter of september 2014 represent interest only .


 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 our sources of liquidity as of december 31 , 2013 include cash and cash equivalents of $ 191.5 million . our projected uses of cash include commercialization of vascepa for the marine indication , preparations for commercialization of vascepa for the anchor indication , if approved , the continued funding of the reduce-it cardiovascular outcomes study , working capital and other general corporate activities . our cash flows from operating , investing and financing activities , as reflected in the consolidated statements of cash flows , are summarized in the following table ( in millions ) : replace_table_token_11_th in july 2013 , we sold 21.7 million shares of our common shares , par value £0.50 per share , at a price of $ 5.60 per share , resulting in net proceeds of approximately $ 121.2 million after deducting underwriting commissions and expenses payable by us associated with this transaction . on december 6 , 2012 we entered into a financing agreement with biopharma . under this agreement , we granted to biopharma a security interest in future receivables and all related rights to vascepa , in exchange for $ 100 million received at the closing of the agreement which closing occurred in december 2012. we have agreed to repay biopharma up to $ 150 million of future revenue and receivables . the first repayment under the agreement was a repayment of $ 0.8 million of interest in november 2013 , reflective of the option reduction described below . additional quarterly repayments are due thereafter in accordance with the following schedule : $ 2.5 million of interest in the first quarter of 2014 ; $ 8.0 million per quarter in each of the next four quarters , $ 10.0 million per quarter in each of the next four quarters , $ 15.0 million per quarter in each of the next four quarters and a final payment of $ 13.0 million due in may 2017. the quarterly repayments through the third quarter of september 2014 represent interest only .
```    
 Suspicious Activity Report : guidelines for the management of very high triglyceride levels suggest that reducing triglyceride levels is the primary goal in patients to reduce the risk of acute pancreatitis . the effect of vascepa on cardiovascular mortality and morbidity , or the risk for pancreatitis , in patients with hypertriglyceridemia has not been determined . the potential efficacy and safety of vascepa ( known in its development stage as amr 101 ) was studied in two phase 3 clinical trials , the marine trial and the anchor trial . at a daily dose of 4 grams of vascepa , the dose at which vascepa is fda approved , these trials showed favorable clinical results in their respective patient populations in reducing triglyceride levels without increasing ldl-c levels in the marine trial and with a statistically significant decrease in ldl-c levels in the anchor trial , in each case , relative to placebo . these trials also showed favorable results , particularly with the 4-gram dose of vascepa , in other important lipid and inflammation biomarkers , including apolipoprotein b ( apo b ) , non-high-density lipoprotein cholesterol ( non-hdl-c ) , total-cholesterol ( tc ) , very low-density lipoprotein cholesterol ( vldl-c ) , lipoprotein-associated 61 phospholipase a2 ( lp-pla2 ) , and high sensitivity c-reactive protein ( hs-crp ) . in these trials , the most commonly reported adverse reaction ( incidence > 2 % and greater than placebo ) in vascepa-treated patients was arthralgia ( joint pain ) ( 2.3 % for vascepa vs. 1.0 % for placebo ) . we are also developing vascepa for the treatment of patients with high ( tg ³ 200 mg/dl and < 500 mg/dl ) triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol , or ldl-c , levels which we refer to as mixed dyslipidemia . we refer to this second proposed indication for vascepa as the anchor indication . the fda has stated that it views the proposed anchor indication as ostensibly and impliedly an indication to reduce cardiovascular risk . in addition , in december 2011 , we announced commencement of patient dosing in our cardiovascular outcomes study of vascepa , titled reduce-it ( reduction of cardiovascular events with epaintervention trial ) . the reduce-it study is designed to evaluate the efficacy of vascepa in reducing major cardiovascular events in a high risk patient population on statin therapy . we have a pending supplemental new drug application , or snda , with the fda that seeks marketing approval of vascepa for use in the anchor indication . on october 16 , 2013 , the fda convened an advisory committee to review our snda . this advisory committee was not asked by the fda to evaluate whether vascepa is effective in lowering triglycerides in the studied population , the anchor indication as specified in the snda . rather , the advisory panel was asked whether vascepa has been demonstrated to improve cardiovascular outcomes or whether approval of the anchor indication should wait for successful completion of the reduce-it study , the first prospective study of cardiovascular outcomes in patients who have high triglyceride levels despite statin therapy . the advisory committee voted 9 to 2 against recommending approval of the anchor indication based on information presented at the meeting . the fda considers the recommendation of advisory committees , but final decisions on the approval of new drug applications are made by the fda . the anchor trial clinical study was conducted under a special protocol assessment , or spa , agreement with the fda . the law governing spa agreements requires that if the results of the trial conducted under the spa substantiate the hypothesis of the protocol covered by the spa , the fda must use the data from the protocol as part of the primary basis for approval of the product . a spa agreement is not a guarantee of fda approval of the related new drug application . a spa agreement is generally binding upon the fda except in limited circumstances , such as if the fda identifies a substantial scientific issue essential to determining safety or efficacy of the drug after the study begins that rises to the level of a public health concern , or if the study sponsor fails to follow the protocol that was agreed upon with the fda . on october 29 , 2013 , the fda rescinded the anchor study spa agreement because the fda determined that a substantial scientific issue essential to determining the effectiveness of vascepa in the studied population was identified after testing began . as a basis for this determination , the fda communicated that it determined that the cumulative results from outcome studies of other triglyceride-lowering drugs failed to support the hypothesis that a triglyceride-lowering drug significantly reduces the risk for cardiovascular events among the population studied in the anchor trial . thus , the fda stated that while information we submitted supports testing the hypothesis that vascepa 4 grams/day versus placebo reduces major adverse cardiovascular events in statin-treated subjects with residually high triglyceride levels , as is being studied in the vascepa reduce-it cardiovascular outcomes study , the fda no longer considers a change in serum triglyceride levels as sufficient to establish the effectiveness of a drug intended to reduce cardiovascular risk in subjects with serum triglyceride levels below 500 mg/dl . in november 2013 , we submitted to the fda a request for reconsideration of its decision to rescind the anchor spa agreement . on january 17 , 2014 , we were notified by the fda that it does not intend to reinstate the anchor spa agreement . our plan is to continue appealing the rescission decision to successively higher administrative levels within the fda in accordance with fda dispute resolution guidance . story_separator_special_tag in accordance with gaap , until we have the ability to reliably estimate returns of vascepa from our distributors , revenue will be recognized based on the resale of vascepa for the purposes of filling patient prescriptions , and not based on sales from us to such distributors . consistent with industry practice , once we achieve sufficient history such that we can reliably estimate returns based on sales to our distributors , we anticipate that our revenues will be recognized based on sales to our distributors . we currently defer vascepa revenue recognition until the earlier of the product being resold for purposes of filling patient prescriptions ; and the expiration of the right of return ( twelve months after the expiration date of the product ) . we also defer the related cost of product sales and record such amounts as finished goods inventory held by others until revenue related to such product sales is recognized . as of december 31 , 2013 , we had experienced deminimus product returns . we have written contracts with our distributors , and delivery occurs when a distributor receives vascepa . we evaluate the creditworthiness of each of our distributors to determine whether revenues can be recognized upon 66 delivery , subject to satisfaction of the other requirements , or whether recognition is required to be delayed until receipt of payment . in order to conclude that the price is fixed or determinable , we must be able to ( i ) calculate our gross product revenues from the sales to distributors and ( ii ) reasonably estimate our net product revenues . we calculate gross product revenues based on the wholesale acquisition cost that we charge our distributors for vascepa . we estimate our net product revenues by deducting from our gross product revenues ( a ) trade allowances , such as invoice discounts for prompt payment and distributor fees , ( b ) estimated government and private payor rebates , chargebacks and discounts , such as medicaid reimbursements , ( c ) reserves for expected product returns and ( d ) estimated costs of incentives offered to certain indirect customers , including patients . derivative financial liabilities derivative financial liabilities are initially recorded at fair value . they are subsequently held at fair value , with gains and losses arising for changes in fair value recognized in the statement of operations . the fair value of derivative financial liabilities is determined using valuation techniques ; typically we use the black-scholes option pricing model . we use our judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at each balance sheet date . fluctuations in the assumptions used in the valuation model would result in adjustments to the fair value of the warrant derivative liability reflected on our balance sheet and , therefore , our statement of operations . if we issue shares to discharge the liability , the derivative financial liability is derecognized and common stock and additional paid-in capital are recognized on the issuance of those shares . for options and warrants treated as derivative financial liabilities , at settlement date the carrying value of the options and warrants are transferred to equity . the cash proceeds received from shareholders for additional shares are recorded in common stock and additional paid-in capital . we recorded a financial derivative related to the change in control provision associated with our december 2012 debt financing . during 2013 , we recorded a derivative liability related to our forward foreign exchange contracts , which was extinguished prior to december 31 , 2013. the fair value of these derivatives could fluctuate based on changes in the assumptions used in the valuation models . inventory prior to july 26 , 2012 , when we received approval from the fda to market and sell vascepa in the united states for the marine indication , vascepa was considered a product candidate under development . all supply of vascepa purchased prior to july 26 , 2012 was not capitalized and instead charged as a component of research and development expense in the period received . after vascepa was approved , we began to capitalize inventory purchased from nisshin , the api supplier approved in the nda . prior to april 2013 , only nisshin was an fda-approved supplier of api for vascepa . in april 2013 , the fda approved our sndas covering chemport and basf as additional vascepa api suppliers . all supply from chemport and basf prior to fda approval of these api suppliers was not capitalized and instead charged as a component of research and development expense in the period received . subsequent to the approval of these suppliers , we capitalize api purchases from them . we are working with slanmhor to pursue fda approval for slanmhor to manufacture vascepa api and submitted an snda in august 2013. until an api supplier is approved , all vascepa api purchased from such supplier is included as a component of research and development expense . upon snda approval of each additional supplier , we capitalize subsequent vascepa api purchases from such supplier as inventory . purchases of vascepa api received and expensed before such regulatory approvals are not subsequently capitalized , and all such purchases are quarantined and not used for commercial supply until such time as the snda for the supplier that produced the api is approved . additionally , the determination of the classification of our inventory requires the use of estimates in order to determine the portion of inventories anticipated to be utilized within twelve months of the balance sheet date . income taxes deferred tax assets and liabilities are recognized for the future tax consequences of differences between the carrying amounts and tax bases of assets and liabilities and operating loss carryforwards and other attributes using enacted rates expected to be in effect when those differences reverse . valuation allowances are provided

