we are also conducting a companion clinical trial with evk-001 in male subjects with symptoms associated with acute and recurrent diabetic gastroparesis to assess the safety and efficacy of evk-001 in men . the male companion trial was initiated in may 2014 and is designed similarly to the phase 3 trial in women . this trial was requested by the fda , but is not required for submission of the evk-001 nda for women , however , we expect to include safety data from this trial in the nda submission . we have no products approved for sale , and we have not generated any revenue from product sales or other arrangements . we have primarily funded our operations through the sale of our convertible preferred stock , borrowings under our loan and security agreements and the sale of shares of our common stock on the nasdaq capital market . we have incurred losses in each year since our inception . our net losses were $ 12.1 million and $ 13.2 million for the years ended december 31 , 2015 and 2014 , respectively . as of december 31 , 2015 and 2014 , we had an accumulated deficit of $ 48.1 million and $ 35.9 million , respectively . substantially all of our operating losses resulted from expenses incurred in connection with advancing evk-001 through development activities and general and administrative costs associated with our operations . we expect to continue to incur significant expenses as we complete our phase 3 clinical trial , continue our nda preparation and move forward with pre-commercial launch activities for at least the next two years . we may never become profitable , or if we do , we may not be able to sustain profitability on a recurring basis . 43 as of december 31 , 2015 we had cash and cash equivalents of $ 8.7 million . we expect to be able to fund our operations throug h october 2016 , but we will need to raise additional capital to fund any additional development requirements requested by the fda , as well as for nda preparation and pre-commercial activities , including marketing and manufacturing of evk-001 . as more full y described in note 6 to the financial statements , in november 2014 we entered into a sales a greement , or the sales agreement , with mlv & co. llc , which was subsequently acquired by fbr & co. , or fbr , pursuant to which we may sell from time to time , at our option , up to an aggregate of $ 6.6 million worth of shares of common stock through fbr , as sales agent . as of december 31 , 2015 , we had sold 1,048,507 shares of our common stock pursuant to the sales agreement , and received proceeds of approximately $ 4.9 million , net of commissions and fees . as of february 29 , 2016 , due to sec regulations , we are unable to sell any further shares of our common stock under the sales agreement due to current capacity restrictions . though we may have such capability in the future , we may not be able to raise additional capital on terms acceptable to us , or at all . any failure to raise capital as and when needed could have a material adverse effect on our results of operations , financial condition , cash flows and our ability to execute on our business plan . in its report on our financial statements for the year ended december 31 , 201 5 , our independent registered public accounting firm included an explanatory paragraph expressing substantial doubt regarding our abilit y to continue as a going concern . technology acquisition agreement in june 2007 , we acquired all worldwide rights , data , patents and other related assets associated with evk-001 from questcor pursuant to an asset purchase agreement . we paid questcor $ 650,000 in the form of an upfront payment and $ 500,000 in may 2014 as a milestone payment based upon the initiation of the first patient dosing in our phase 3 clinical trial for evk-001 . in august 2014 , mallinckrodt acquired questcor . as a result of that acquisition , questcor transferred its rights included in the asset purchase agreement with us to mallinckrodt . in addition to the payments we made to questcor , we may also be required to make additional milestone payments to mallinckrodt totaling up to $ 51.5 million . these milestones include up to $ 4.5 million in payments if evk-001 achieves the following development targets : ● $ 1.5 million upon the fda 's acceptance for review of an nda for evk-001 ; and ● $ 3 million upon the fda 's approval of evk-001 . the remaining $ 47 million in milestone payments depend on evk-001 's commercial success and will only apply if evk-001 receives regulatory approval . in addition , we will be required to pay to mallinckrodt a low single digit royalty on net sales of evk-001 . our obligation to pay such royalties will terminate upon the expiration of the last patent right covering evk-001 , which is expected to occur in 2030. financial operations overview research and development expenses we expense all research and development expenses as they are incurred . research and development expenses primarily include : ● clinical trial and regulatory-related costs ; ● expenses incurred under agreements with cros , investigative sites and consultants that conduct our clinical trials ; ● manufacturing and stability testing costs and related supplies and materials ; and ● employee-related expenses , including salaries , benefits , travel and stock-based compensation expense . all of our research and development expenses to date have been incurred in connection with evk-001 . story_separator_special_tag however , we currently estimate the costs of our phase 3 clinical trial in women and our companion clinical trial in men of evk-001 will be approximately $ 16.5 million , of which , through december 31 , 2015 , $ 13.7 million have been incurred related to those clinical activities . accordingly , we will continue to require substantial additional capital beyond our current cash and cash equivalents to continue our clinical development and potential commercialization activities . the amount and timing of our future funding requirements will depend on many factors , including the pace and results of our clinical development efforts . we anticipate that we will seek to fund our operations through public or private equity or debt financings or other sources , such as potential collaboration arrangements . our failure to raise capital as and when needed would have a negative impact on our financial condition , results of operations , cash flows and our ability to pursue our business strategies . on november 13 , 2014 , we entered into the sales agreement with mlv , pursuant to which we may sell from time to time , at our option , up to an aggregate of $ 6.6 million worth of shares of common stock through mlv , as sales agent . during september 2015 , fbr acquired mlv and assumed its rights and obligations under the sales agreement . the sales of shares of our common stock made through this equity program are made in “ at-the-market ” offerings as defined in rule 415 of the securities act . through december 31 , 2015 , we have sold 1,048,507 shares of common stock at a weighted average price per share of $ 4.78 pursuant to the sales agreement and received proceeds of approximately $ 4.9 million , net of commissions and fees . we incurred approximately $ 138,000 of legal , accounting and filing fees related to our form s-3 filed in november 2014. such costs were capitalized and included in other current assets at december 31 , 2014 , and have been reclassified to additional paid-in capital as a further offset to the net proceeds . we intend to use the net proceeds to continue to fund our ongoing phase 3 clinical trial and for general corporate purposes . future sales will depend on a variety of factors including , but not limited to , market conditions , the trading price of our common stock and our capital needs . although sales of our common stock have taken place pursuant to the sales agreement , there can be no assurance that fbr will be successful in consummating future sales based on prevailing market conditions or in the quantities or at the prices that we deem appropriate . under current sec regulations , at any time during which the aggregate market value of our common stock held by non-affiliates , or public float , is less than $ 75 million , the amount we can raise through primary public offerings of securities in any twelve-month period using shelf registration statements , including sales under the sales agreement , is limited to an aggregate of one-third of our public float . as of february 29 , 2016 , our public float was 4.1 million shares , the value of which was $ 14.6 million based upon the closing price of our common stock of $ 3.57 on february 22 , 2016. the value of one-third of our public float calculated on the same basis was $ 4.8 million . as of february 29 , 2016 , we are unable to sell any further shares of common stock pursuant to the sales agreement due to current capacity restrictions . in addition , we will not be able to make future sales of our common stock pursuant to the sales agreement unless certain conditions are met , which include the accuracy of representations and warranties made to fbr under the sales agreement . furthermore , fbr is permitted to terminate the sales agreement in its sole discretion upon ten days ' notice , or at any time in certain circumstances , including the occurrence of an event that would be reasonably likely to have a material adverse effect on our assets , business , operations , earnings , properties , condition ( financial or otherwise ) , prospects , stockholders ' equity or results of operations . we have no obligation to sell the remaining shares available for sale pursuant to the sales agreement . our recurring losses from operations raise substantial doubt about our ability to continue as a going concern , and as a result , our independent registered public accounting firm included an explanatory paragraph in its report on our financial statements as of and for the year ended december 31 , 2015 with respect to this uncertainty . this going concern opinion could materially limit our ability to raise additional funds through the issuance of new debt or equity securities or otherwise . future reports on our financial statements may also include an explanatory paragraph with respect to our ability to continue as a going concern . we have incurred significant losses since our inception and have never been profitable , and it is possible we will never achieve profitability . we have devoted our 49 resources t o developing our product candidate , but it can not be marketed until regulatory approvals have been obtained . based upon our currently expected level of operating expenditures , we expect to be able to fund our operations through october 201 6 . this period co uld be shortened if there are any significant increases in planned spending on our evk-001 development program or more rapid progress of our ongoing phase 3 clinical trial than anticipated . there is no assurance that other financing will be available when needed to allow us to continue as a going concern . the perception that we may

liquidity and capital resources since our inception in 2007 , we have funded our operations primarily from the sale of equity securities and borrowings under loan and security agreements . prior to our ipo , we received $ 17.7 million in net proceeds from the sale of our series a convertible preferred stock and advances of $ 5.5 million under the loan and security agreements . during 2013 , we completed our ipo and raised approximately $ 25.1 million , net of offering costs and commissions . during 2015 , we received net proceeds of approximately $ 5.0 million from the sale of common stock through our sales agreement with fbr and , to a lesser extent , our employee stock purchase plan , or espp . we have incurred losses since inception and have negative cash flows from operating activities . as of december 31 , 2015 , we had approximately $ 8.7 million in cash and cash equivalents and working capital of approximately $ 7.7 million . in june 2012 , we entered into a $ 3 million loan and security agreement with svb , collateralized by our personal property and containing only non-financial covenants . by january 2013 , we had been advanced the entire $ 3 million to fund working capital . interest on advances under the agreement was at a fixed interest rate equal to 4.50 % . advances under the loan and security agreement had an interest-only period through december 31 , 2013 , and had a 24-month payback period that commenced in january 2014. in connection with the loan and security agreement , we issued a warrant to svb , which is immediately exercisable for an aggregate of 12,000 shares of our common stock , at an exercise price of $ 7.50 per share . through may 1 , 2014 , we repaid approximately $ 603,000 of principal on the svb loan . on may 23 , 2014 , we repaid the outstanding principal and accrued interest of approximately $ 2.4 million to svb . with such payoff , the loan and security agreement with svb and the documents entered into in connection therewith were deemed to be terminated .


 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 since our inception in 2007 , we have funded our operations primarily from the sale of equity securities and borrowings under loan and security agreements . prior to our ipo , we received $ 17.7 million in net proceeds from the sale of our series a convertible preferred stock and advances of $ 5.5 million under the loan and security agreements . during 2013 , we completed our ipo and raised approximately $ 25.1 million , net of offering costs and commissions . during 2015 , we received net proceeds of approximately $ 5.0 million from the sale of common stock through our sales agreement with fbr and , to a lesser extent , our employee stock purchase plan , or espp . we have incurred losses since inception and have negative cash flows from operating activities . as of december 31 , 2015 , we had approximately $ 8.7 million in cash and cash equivalents and working capital of approximately $ 7.7 million . in june 2012 , we entered into a $ 3 million loan and security agreement with svb , collateralized by our personal property and containing only non-financial covenants . by january 2013 , we had been advanced the entire $ 3 million to fund working capital . interest on advances under the agreement was at a fixed interest rate equal to 4.50 % . advances under the loan and security agreement had an interest-only period through december 31 , 2013 , and had a 24-month payback period that commenced in january 2014. in connection with the loan and security agreement , we issued a warrant to svb , which is immediately exercisable for an aggregate of 12,000 shares of our common stock , at an exercise price of $ 7.50 per share . through may 1 , 2014 , we repaid approximately $ 603,000 of principal on the svb loan . on may 23 , 2014 , we repaid the outstanding principal and accrued interest of approximately $ 2.4 million to svb . with such payoff , the loan and security agreement with svb and the documents entered into in connection therewith were deemed to be terminated .
```    
 Suspicious Activity Report : we are also conducting a companion clinical trial with evk-001 in male subjects with symptoms associated with acute and recurrent diabetic gastroparesis to assess the safety and efficacy of evk-001 in men . the male companion trial was initiated in may 2014 and is designed similarly to the phase 3 trial in women . this trial was requested by the fda , but is not required for submission of the evk-001 nda for women , however , we expect to include safety data from this trial in the nda submission . we have no products approved for sale , and we have not generated any revenue from product sales or other arrangements . we have primarily funded our operations through the sale of our convertible preferred stock , borrowings under our loan and security agreements and the sale of shares of our common stock on the nasdaq capital market . we have incurred losses in each year since our inception . our net losses were $ 12.1 million and $ 13.2 million for the years ended december 31 , 2015 and 2014 , respectively . as of december 31 , 2015 and 2014 , we had an accumulated deficit of $ 48.1 million and $ 35.9 million , respectively . substantially all of our operating losses resulted from expenses incurred in connection with advancing evk-001 through development activities and general and administrative costs associated with our operations . we expect to continue to incur significant expenses as we complete our phase 3 clinical trial , continue our nda preparation and move forward with pre-commercial launch activities for at least the next two years . we may never become profitable , or if we do , we may not be able to sustain profitability on a recurring basis . 43 as of december 31 , 2015 we had cash and cash equivalents of $ 8.7 million . we expect to be able to fund our operations throug h october 2016 , but we will need to raise additional capital to fund any additional development requirements requested by the fda , as well as for nda preparation and pre-commercial activities , including marketing and manufacturing of evk-001 . as more full y described in note 6 to the financial statements , in november 2014 we entered into a sales a greement , or the sales agreement , with mlv & co. llc , which was subsequently acquired by fbr & co. , or fbr , pursuant to which we may sell from time to time , at our option , up to an aggregate of $ 6.6 million worth of shares of common stock through fbr , as sales agent . as of december 31 , 2015 , we had sold 1,048,507 shares of our common stock pursuant to the sales agreement , and received proceeds of approximately $ 4.9 million , net of commissions and fees . as of february 29 , 2016 , due to sec regulations , we are unable to sell any further shares of our common stock under the sales agreement due to current capacity restrictions . though we may have such capability in the future , we may not be able to raise additional capital on terms acceptable to us , or at all . any failure to raise capital as and when needed could have a material adverse effect on our results of operations , financial condition , cash flows and our ability to execute on our business plan . in its report on our financial statements for the year ended december 31 , 201 5 , our independent registered public accounting firm included an explanatory paragraph expressing substantial doubt regarding our abilit y to continue as a going concern . technology acquisition agreement in june 2007 , we acquired all worldwide rights , data , patents and other related assets associated with evk-001 from questcor pursuant to an asset purchase agreement . we paid questcor $ 650,000 in the form of an upfront payment and $ 500,000 in may 2014 as a milestone payment based upon the initiation of the first patient dosing in our phase 3 clinical trial for evk-001 . in august 2014 , mallinckrodt acquired questcor . as a result of that acquisition , questcor transferred its rights included in the asset purchase agreement with us to mallinckrodt . in addition to the payments we made to questcor , we may also be required to make additional milestone payments to mallinckrodt totaling up to $ 51.5 million . these milestones include up to $ 4.5 million in payments if evk-001 achieves the following development targets : ● $ 1.5 million upon the fda 's acceptance for review of an nda for evk-001 ; and ● $ 3 million upon the fda 's approval of evk-001 . the remaining $ 47 million in milestone payments depend on evk-001 's commercial success and will only apply if evk-001 receives regulatory approval . in addition , we will be required to pay to mallinckrodt a low single digit royalty on net sales of evk-001 . our obligation to pay such royalties will terminate upon the expiration of the last patent right covering evk-001 , which is expected to occur in 2030. financial operations overview research and development expenses we expense all research and development expenses as they are incurred . research and development expenses primarily include : ● clinical trial and regulatory-related costs ; ● expenses incurred under agreements with cros , investigative sites and consultants that conduct our clinical trials ; ● manufacturing and stability testing costs and related supplies and materials ; and ● employee-related expenses , including salaries , benefits , travel and stock-based compensation expense . all of our research and development expenses to date have been incurred in connection with evk-001 . story_separator_special_tag however , we currently estimate the costs of our phase 3 clinical trial in women and our companion clinical trial in men of evk-001 will be approximately $ 16.5 million , of which , through december 31 , 2015 , $ 13.7 million have been incurred related to those clinical activities . accordingly , we will continue to require substantial additional capital beyond our current cash and cash equivalents to continue our clinical development and potential commercialization activities . the amount and timing of our future funding requirements will depend on many factors , including the pace and results of our clinical development efforts . we anticipate that we will seek to fund our operations through public or private equity or debt financings or other sources , such as potential collaboration arrangements . our failure to raise capital as and when needed would have a negative impact on our financial condition , results of operations , cash flows and our ability to pursue our business strategies . on november 13 , 2014 , we entered into the sales agreement with mlv , pursuant to which we may sell from time to time , at our option , up to an aggregate of $ 6.6 million worth of shares of common stock through mlv , as sales agent . during september 2015 , fbr acquired mlv and assumed its rights and obligations under the sales agreement . the sales of shares of our common stock made through this equity program are made in “ at-the-market ” offerings as defined in rule 415 of the securities act . through december 31 , 2015 , we have sold 1,048,507 shares of common stock at a weighted average price per share of $ 4.78 pursuant to the sales agreement and received proceeds of approximately $ 4.9 million , net of commissions and fees . we incurred approximately $ 138,000 of legal , accounting and filing fees related to our form s-3 filed in november 2014. such costs were capitalized and included in other current assets at december 31 , 2014 , and have been reclassified to additional paid-in capital as a further offset to the net proceeds . we intend to use the net proceeds to continue to fund our ongoing phase 3 clinical trial and for general corporate purposes . future sales will depend on a variety of factors including , but not limited to , market conditions , the trading price of our common stock and our capital needs . although sales of our common stock have taken place pursuant to the sales agreement , there can be no assurance that fbr will be successful in consummating future sales based on prevailing market conditions or in the quantities or at the prices that we deem appropriate . under current sec regulations , at any time during which the aggregate market value of our common stock held by non-affiliates , or public float , is less than $ 75 million , the amount we can raise through primary public offerings of securities in any twelve-month period using shelf registration statements , including sales under the sales agreement , is limited to an aggregate of one-third of our public float . as of february 29 , 2016 , our public float was 4.1 million shares , the value of which was $ 14.6 million based upon the closing price of our common stock of $ 3.57 on february 22 , 2016. the value of one-third of our public float calculated on the same basis was $ 4.8 million . as of february 29 , 2016 , we are unable to sell any further shares of common stock pursuant to the sales agreement due to current capacity restrictions . in addition , we will not be able to make future sales of our common stock pursuant to the sales agreement unless certain conditions are met , which include the accuracy of representations and warranties made to fbr under the sales agreement . furthermore , fbr is permitted to terminate the sales agreement in its sole discretion upon ten days ' notice , or at any time in certain circumstances , including the occurrence of an event that would be reasonably likely to have a material adverse effect on our assets , business , operations , earnings , properties , condition ( financial or otherwise ) , prospects , stockholders ' equity or results of operations . we have no obligation to sell the remaining shares available for sale pursuant to the sales agreement . our recurring losses from operations raise substantial doubt about our ability to continue as a going concern , and as a result , our independent registered public accounting firm included an explanatory paragraph in its report on our financial statements as of and for the year ended december 31 , 2015 with respect to this uncertainty . this going concern opinion could materially limit our ability to raise additional funds through the issuance of new debt or equity securities or otherwise . future reports on our financial statements may also include an explanatory paragraph with respect to our ability to continue as a going concern . we have incurred significant losses since our inception and have never been profitable , and it is possible we will never achieve profitability . we have devoted our 49 resources t o developing our product candidate , but it can not be marketed until regulatory approvals have been obtained . based upon our currently expected level of operating expenditures , we expect to be able to fund our operations through october 201 6 . this period co uld be shortened if there are any significant increases in planned spending on our evk-001 development program or more rapid progress of our ongoing phase 3 clinical trial than anticipated . there is no assurance that other financing will be available when needed to allow us to continue as a going concern . the perception that we may

