further , any forward-looking statements speak only as of the date on which it is made , and we undertake no obligation to update or revise any forward-looking statements , whether as a result of new information , future events or otherwise , unless required by law . new factors emerge from time to time , and it is not possible for us to predict which factors will arise . in addition , we can not assess the impact of each factor on our business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . overview we are a clinical-stage vaccine company focused on the discovery , development and commercialization of recombinant nanoparticle vaccines and adjuvants . using innovative proprietary recombinant nanoparticle vaccine technology , we produce vaccine candidates to efficiently and effectively respond to both known and newly emerging diseases . our vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important proteins . our product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus ( “ rsv ” ) , seasonal influenza , pandemic influenza and the ebola virus ( “ ebov ” ) . we have additional pre-clinical stage programs in a variety of infectious diseases , including middle east respiratory syndrome ( “ mers ” ) . further , cpl biologics private limited ( “ cplb ” ) , our joint venture company with cadila pharmaceuticals limited ( “ cadila ” ) in india , is actively developing a number of vaccine candidates that were genetically engineered by novavax , including its seasonal vlp influenza vaccine candidate that completed enrollment of a phase 3 clinical trial in india in 2014 , and its rabies vaccine that completed its phase 1/2 clinical trial in india in 2014. cplb is owned 20 % by us and 80 % by cadila . cplb operates a manufacturing facility in india for the production of vaccines 38 we are also developing proprietary technology for the production of immune stimulating saponin-based adjuvants , through our swedish wholly-owned subsidiary , novavax ab . our matrix adjuvant technology utilizes selected quillaja fractions , which form separate matrix structures , to develop modern , multi-purpose immune-modulating adjuvant products for a broad range of potential vaccine applications . our lead adjuvant for human applications , matrix-m , has been successfully tested in a phase 1/2 clinical trial for our pandemic influenza h7n9 vaccine candidate , conducted under our contract with hhs barda , and we are currently testing matrix-m in conjunction with our ebov vaccine candidate in a phase 1 clinical trial . genocea biosciences , inc. ( “ genocea ” ) has licensed rights to our matrix technology and is conducting clinical trials with its herpes simplex 2 vaccine candidate using matrix-m. clinical product pipeline a current summary of our significant research and development programs and status of related products in development follows : replace_table_token_6_th respiratory syncytial virus ( rsv ) rsv is a major respiratory pathogen with a significant burden of disease in the very young and in the elderly . in healthy adults , rsv infections are generally mild to moderate in severity , but are typically more severe in infants and young children , as well as adults over the age of 60 . 10 globally , rsv is a common cause of childhood respiratory infection , with a disease burden of 64 million cases and approximately 160,000 deaths annually . 11 severe rsv disease results in 3.4 million hospital admissions per year globally 12 and disproportionately affects infants below six months of age . in infants , toddlers and young pre-school and school-age children , rsv infections result in the need for frequent medical care , including emergency room and office visits and are associated with increased recurrent wheezing that can persist for years . in the u.s. , nearly all children become infected with rsv before they are two years of age , and it has been associated with 20 % of hospitalizations and 15 % of office visits for acute respiratory infection in young children 13 . it is also estimated that between 11,000 and 17,000 elderly and high risk adults die of rsv infection or its complications annually in the u.s. , and up to 180,000 are hospitalized for serious respiratory symptoms . 14 currently , there is no approved rsv vaccine available for any of these populations , so an rsv vaccine has the potential to protect millions of persons from this far-reaching unmet medical need . 10 dawson-caswell , d , et al . , ( 2011 ) am fam physician . 83:143 - 146 11 nair , h. , et al . , ( 2010 ) lancet . 375:1545 - 1555 12 who , ( 2014 ) “ rsv vaccine status ; ” www.who.int/immunization/research/meetings_workshops/who_pdvac_rsv.pdf 39 we are developing our respiratory syncytial virus fusion ( f ) protein nanoparticle vaccine candidate ( “ rsv f vaccine ” ) for the benefit of three susceptible target populations : the elderly , infants ( receiving protection through antibodies transferred from their mothers who would be immunized during the last trimester of pregnancy ) and pediatrics . rsv elderly program in october 2014 , we initiated enrollment in a phase 2 dose-confirmation clinical trial of our rsv f vaccine in 1,600 elderly adults ( > 60 years of age ) . recruitment was completed in november , and the preliminary data from this trial are expected in the third quarter of 2015. we believe these data will inform the next steps in the development of our rsv elderly program . data from our earlier phase 1 clinical trial in the elderly , initiated in october 2012 , corroborates our previous clinical experiences with our rsv f vaccine candidate . story_separator_special_tag five strains of ebov have been identified , the most recent of which , the 2014 guinea-based ebov strain , is associated with a case fatality rate of 50 % to 90 % . there are currently no licensed treatments proven to neutralize the virus , but a range of blood , immunological and drug therapies are under development . despite the development of such therapies , current vaccine approaches target either a previous strain of the virus or were initially developed to be delivered by genetic vectors . our ebov glycoprotein ( “ gp ” ) vaccine candidate , which was modeled using the 2014 guinea-based ebov strain , has been successfully tested in rodent , rabbit , and non-human primate pre-clinical models . we have also tested the vaccine with our matrix-m adjuvant , which appears to significantly contribute to enhanced immunogenicity and dose-sparing . we initiated large-scale gmp production of our ebov gp vaccine candidate in the fourth quarter of 2014. in february 2015 , we announced the initiation of enrollment in a phase 1 clinical trial of our ebov gp vaccine candidate in 150 healthy adults to evaluate the safety and immunogenicity of this vaccine candidate in ascending doses , with and without our matrix-m adjuvant . we expect preliminary data from this trial to be available in mid-2015 . in addition , we announced successful preliminary data from a non-human primate challenge study of our ebov gp vaccine candidate in which the challenge was lethal for the control animal , whereas 100 % of the immunized animals were protected . plans to demonstrate the safety and efficacy in a large-scale global clinical trial will be developed based on the results of our phase 1 clinical trial and in collaboration with global regulatory authorities and world health agencies . combination respiratory ( influenza and rsv ) given the ongoing development of our quadrivalent seasonal influenza vlp vaccine candidate and our rsv f vaccine candidate , we see an important opportunity to develop a combination respiratory vaccine candidate . this opportunity presents itself most evidently in the elderly , although we have not ruled out developing a combination respiratory vaccine for the non-elderly . early pre-clinical development efforts have given us confidence that such a combination vaccine is viable and in animal models , provides acceptable immunogenicity . we intend to explore this development opportunity by conducting a phase 1 clinical trial in such a combination vaccine in 2015. cplb programs ( india ) seasonal influenza cplb completed enrollment of its on-going phase 3 clinical trial of its seasonal vlp influenza vaccine candidate in the second half of 2014. assuming positive safety and immunogenicity data from this phase 3 clinical trial , cplb plans to file for regulatory market authorization , the indian equivalent of a bla , for its seasonal vlp vaccine candidate . rabies cplb is developing a rabies g protein vaccine candidate that we genetically engineered and completed enrollment of an ongoing phase 1/2 clinical trial in india in 2014. the objective is to develop a recombinant vaccine that can be administered both as a pre-exposure prophylaxis for residents of certain higher-risk geographies and travelers to such locations , and as a post-exposure prophylaxis using fewer doses than the current standard of care . in october 2014 , cplb presented clinical results from stage i of the phase 1/2 clinical trial , demonstrating that all vaccine recipients , at various doses levels and schedules , showed seroprotective antibody levels at day 14 that were sustained through day 180. the vaccine candidate , which was found to be safe and well-tolerated , also induced seroprotective levels with two-dose and three-dose regimens . assuming positive clinical data from stage ii of the phase 1/2 clinical trial , cplb would plan to initiate a phase 3 clinical trial . 44 discovery programs our vaccine platform technology provides an efficient system to rapidly develop antigens to selected targets , refine manufacturing processes and optimize development across multiple vaccine candidates . we pay close attention to global reports of emerging diseases for which there do not appear to be immediate cures and where a vaccine protocol could offer potential protection . in addition to our response to the a ( h7n9 ) influenza strain ( as previously discussed ) , we have been monitoring reports concerning mers , a novel coronavirus first identified in september 2012 by an egyptian virologist . mers became an emerging threat in 2013 , with the who currently reporting more than 850 confirmed cases of infection and more than 350 deaths . the mers virus is a part of the coronavirus family that includes the severe acute respiratory syndrome coronavirus ( “ sars ” ) . because of the public health priority given to mers , within weeks of getting the virus ' sequence , we successfully produced a vaccine candidate designed to provide protection against mers . this vaccine candidate , which was made using our recombinant nanoparticle vaccine technology , is based on the major surface spike protein , which we had earlier identified as the antigen of choice in our work with a sars vaccine candidate . in april 2014 , in collaboration with the university of maryland , school of medicine , we published results that showed our investigational vaccine candidates against both mers and sars blocked infection in laboratory studies . although the development of a mers vaccine candidate currently remains a pre-clinical program , we believe that our mers vaccine candidate offers a viable option to interested global public health authorities . sales of common stock in june 2014 , we completed a public offering of 28,750,000 shares of our common stock , including 3,750,000 shares of common stock that were issued upon the exercise in full of the option to purchase additional shares granted to the underwriters , at a price of $ 4.00 per share resulting in net proceeds of approximately $ 108 million . in

liquidity matters and capital resources our future capital requirements depend on numerous factors including , but not limited to , the commitments and progress of our research and development programs , the progress of pre-clinical and clinical testing , the time and costs involved in obtaining regulatory approvals , the costs of filing , prosecuting , defending and enforcing patent claims and other intellectual property rights and manufacturing costs . we plan to continue to have multiple vaccines and products in various stages of development , and we believe our operating expenses and capital requirements will fluctuate depending upon the timing of certain events , such as the scope , initiation , rate and progress of our pre-clinical studies and clinical trials and other research and development activities . 52 as of december 31 , 2014 , we had $ 168.1 million in cash and cash equivalents and marketable securities as compared to $ 133.1 million as of december 31 , 2013. these amounts consisted of $ 32.3 million in cash and cash equivalents and $ 135.7 million in marketable securities as of december 31 , 2014 as compared to $ 119.5 million in cash and cash equivalents and $ 13.6 million in marketable securities at december 31 , 2013. the following table summarizes cash flows for 2014 and 2013 ( in thousands ) : replace_table_token_12_th net cash used in operating activities increased to $ 67.0 million for 2014 as compared to $ 45.4 million for 2013. the increase in cash usage was primarily due to increased costs relating to our rsv f vaccine candidate , higher employee-related costs and timing of vendor payments . during 2014 and 2013 , our investing activities consisted primarily of purchases and sales , maturities and redemptions of marketable securities and capital expenditures . in 2014 , we primarily purchased marketable securities to increase our rate of return on our marketable securities relative to returns available to money market funds . capital expenditures for 2014 and 2013 were $ 7.3 million and $ 5.8 million , respectively .


 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 matters and capital resources our future capital requirements depend on numerous factors including , but not limited to , the commitments and progress of our research and development programs , the progress of pre-clinical and clinical testing , the time and costs involved in obtaining regulatory approvals , the costs of filing , prosecuting , defending and enforcing patent claims and other intellectual property rights and manufacturing costs . we plan to continue to have multiple vaccines and products in various stages of development , and we believe our operating expenses and capital requirements will fluctuate depending upon the timing of certain events , such as the scope , initiation , rate and progress of our pre-clinical studies and clinical trials and other research and development activities . 52 as of december 31 , 2014 , we had $ 168.1 million in cash and cash equivalents and marketable securities as compared to $ 133.1 million as of december 31 , 2013. these amounts consisted of $ 32.3 million in cash and cash equivalents and $ 135.7 million in marketable securities as of december 31 , 2014 as compared to $ 119.5 million in cash and cash equivalents and $ 13.6 million in marketable securities at december 31 , 2013. the following table summarizes cash flows for 2014 and 2013 ( in thousands ) : replace_table_token_12_th net cash used in operating activities increased to $ 67.0 million for 2014 as compared to $ 45.4 million for 2013. the increase in cash usage was primarily due to increased costs relating to our rsv f vaccine candidate , higher employee-related costs and timing of vendor payments . during 2014 and 2013 , our investing activities consisted primarily of purchases and sales , maturities and redemptions of marketable securities and capital expenditures . in 2014 , we primarily purchased marketable securities to increase our rate of return on our marketable securities relative to returns available to money market funds . capital expenditures for 2014 and 2013 were $ 7.3 million and $ 5.8 million , respectively .
```    
 Suspicious Activity Report : further , any forward-looking statements speak only as of the date on which it is made , and we undertake no obligation to update or revise any forward-looking statements , whether as a result of new information , future events or otherwise , unless required by law . new factors emerge from time to time , and it is not possible for us to predict which factors will arise . in addition , we can not assess the impact of each factor on our business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements . overview we are a clinical-stage vaccine company focused on the discovery , development and commercialization of recombinant nanoparticle vaccines and adjuvants . using innovative proprietary recombinant nanoparticle vaccine technology , we produce vaccine candidates to efficiently and effectively respond to both known and newly emerging diseases . our vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important proteins . our product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus ( “ rsv ” ) , seasonal influenza , pandemic influenza and the ebola virus ( “ ebov ” ) . we have additional pre-clinical stage programs in a variety of infectious diseases , including middle east respiratory syndrome ( “ mers ” ) . further , cpl biologics private limited ( “ cplb ” ) , our joint venture company with cadila pharmaceuticals limited ( “ cadila ” ) in india , is actively developing a number of vaccine candidates that were genetically engineered by novavax , including its seasonal vlp influenza vaccine candidate that completed enrollment of a phase 3 clinical trial in india in 2014 , and its rabies vaccine that completed its phase 1/2 clinical trial in india in 2014. cplb is owned 20 % by us and 80 % by cadila . cplb operates a manufacturing facility in india for the production of vaccines 38 we are also developing proprietary technology for the production of immune stimulating saponin-based adjuvants , through our swedish wholly-owned subsidiary , novavax ab . our matrix adjuvant technology utilizes selected quillaja fractions , which form separate matrix structures , to develop modern , multi-purpose immune-modulating adjuvant products for a broad range of potential vaccine applications . our lead adjuvant for human applications , matrix-m , has been successfully tested in a phase 1/2 clinical trial for our pandemic influenza h7n9 vaccine candidate , conducted under our contract with hhs barda , and we are currently testing matrix-m in conjunction with our ebov vaccine candidate in a phase 1 clinical trial . genocea biosciences , inc. ( “ genocea ” ) has licensed rights to our matrix technology and is conducting clinical trials with its herpes simplex 2 vaccine candidate using matrix-m. clinical product pipeline a current summary of our significant research and development programs and status of related products in development follows : replace_table_token_6_th respiratory syncytial virus ( rsv ) rsv is a major respiratory pathogen with a significant burden of disease in the very young and in the elderly . in healthy adults , rsv infections are generally mild to moderate in severity , but are typically more severe in infants and young children , as well as adults over the age of 60 . 10 globally , rsv is a common cause of childhood respiratory infection , with a disease burden of 64 million cases and approximately 160,000 deaths annually . 11 severe rsv disease results in 3.4 million hospital admissions per year globally 12 and disproportionately affects infants below six months of age . in infants , toddlers and young pre-school and school-age children , rsv infections result in the need for frequent medical care , including emergency room and office visits and are associated with increased recurrent wheezing that can persist for years . in the u.s. , nearly all children become infected with rsv before they are two years of age , and it has been associated with 20 % of hospitalizations and 15 % of office visits for acute respiratory infection in young children 13 . it is also estimated that between 11,000 and 17,000 elderly and high risk adults die of rsv infection or its complications annually in the u.s. , and up to 180,000 are hospitalized for serious respiratory symptoms . 14 currently , there is no approved rsv vaccine available for any of these populations , so an rsv vaccine has the potential to protect millions of persons from this far-reaching unmet medical need . 10 dawson-caswell , d , et al . , ( 2011 ) am fam physician . 83:143 - 146 11 nair , h. , et al . , ( 2010 ) lancet . 375:1545 - 1555 12 who , ( 2014 ) “ rsv vaccine status ; ” www.who.int/immunization/research/meetings_workshops/who_pdvac_rsv.pdf 39 we are developing our respiratory syncytial virus fusion ( f ) protein nanoparticle vaccine candidate ( “ rsv f vaccine ” ) for the benefit of three susceptible target populations : the elderly , infants ( receiving protection through antibodies transferred from their mothers who would be immunized during the last trimester of pregnancy ) and pediatrics . rsv elderly program in october 2014 , we initiated enrollment in a phase 2 dose-confirmation clinical trial of our rsv f vaccine in 1,600 elderly adults ( > 60 years of age ) . recruitment was completed in november , and the preliminary data from this trial are expected in the third quarter of 2015. we believe these data will inform the next steps in the development of our rsv elderly program . data from our earlier phase 1 clinical trial in the elderly , initiated in october 2012 , corroborates our previous clinical experiences with our rsv f vaccine candidate . story_separator_special_tag five strains of ebov have been identified , the most recent of which , the 2014 guinea-based ebov strain , is associated with a case fatality rate of 50 % to 90 % . there are currently no licensed treatments proven to neutralize the virus , but a range of blood , immunological and drug therapies are under development . despite the development of such therapies , current vaccine approaches target either a previous strain of the virus or were initially developed to be delivered by genetic vectors . our ebov glycoprotein ( “ gp ” ) vaccine candidate , which was modeled using the 2014 guinea-based ebov strain , has been successfully tested in rodent , rabbit , and non-human primate pre-clinical models . we have also tested the vaccine with our matrix-m adjuvant , which appears to significantly contribute to enhanced immunogenicity and dose-sparing . we initiated large-scale gmp production of our ebov gp vaccine candidate in the fourth quarter of 2014. in february 2015 , we announced the initiation of enrollment in a phase 1 clinical trial of our ebov gp vaccine candidate in 150 healthy adults to evaluate the safety and immunogenicity of this vaccine candidate in ascending doses , with and without our matrix-m adjuvant . we expect preliminary data from this trial to be available in mid-2015 . in addition , we announced successful preliminary data from a non-human primate challenge study of our ebov gp vaccine candidate in which the challenge was lethal for the control animal , whereas 100 % of the immunized animals were protected . plans to demonstrate the safety and efficacy in a large-scale global clinical trial will be developed based on the results of our phase 1 clinical trial and in collaboration with global regulatory authorities and world health agencies . combination respiratory ( influenza and rsv ) given the ongoing development of our quadrivalent seasonal influenza vlp vaccine candidate and our rsv f vaccine candidate , we see an important opportunity to develop a combination respiratory vaccine candidate . this opportunity presents itself most evidently in the elderly , although we have not ruled out developing a combination respiratory vaccine for the non-elderly . early pre-clinical development efforts have given us confidence that such a combination vaccine is viable and in animal models , provides acceptable immunogenicity . we intend to explore this development opportunity by conducting a phase 1 clinical trial in such a combination vaccine in 2015. cplb programs ( india ) seasonal influenza cplb completed enrollment of its on-going phase 3 clinical trial of its seasonal vlp influenza vaccine candidate in the second half of 2014. assuming positive safety and immunogenicity data from this phase 3 clinical trial , cplb plans to file for regulatory market authorization , the indian equivalent of a bla , for its seasonal vlp vaccine candidate . rabies cplb is developing a rabies g protein vaccine candidate that we genetically engineered and completed enrollment of an ongoing phase 1/2 clinical trial in india in 2014. the objective is to develop a recombinant vaccine that can be administered both as a pre-exposure prophylaxis for residents of certain higher-risk geographies and travelers to such locations , and as a post-exposure prophylaxis using fewer doses than the current standard of care . in october 2014 , cplb presented clinical results from stage i of the phase 1/2 clinical trial , demonstrating that all vaccine recipients , at various doses levels and schedules , showed seroprotective antibody levels at day 14 that were sustained through day 180. the vaccine candidate , which was found to be safe and well-tolerated , also induced seroprotective levels with two-dose and three-dose regimens . assuming positive clinical data from stage ii of the phase 1/2 clinical trial , cplb would plan to initiate a phase 3 clinical trial . 44 discovery programs our vaccine platform technology provides an efficient system to rapidly develop antigens to selected targets , refine manufacturing processes and optimize development across multiple vaccine candidates . we pay close attention to global reports of emerging diseases for which there do not appear to be immediate cures and where a vaccine protocol could offer potential protection . in addition to our response to the a ( h7n9 ) influenza strain ( as previously discussed ) , we have been monitoring reports concerning mers , a novel coronavirus first identified in september 2012 by an egyptian virologist . mers became an emerging threat in 2013 , with the who currently reporting more than 850 confirmed cases of infection and more than 350 deaths . the mers virus is a part of the coronavirus family that includes the severe acute respiratory syndrome coronavirus ( “ sars ” ) . because of the public health priority given to mers , within weeks of getting the virus ' sequence , we successfully produced a vaccine candidate designed to provide protection against mers . this vaccine candidate , which was made using our recombinant nanoparticle vaccine technology , is based on the major surface spike protein , which we had earlier identified as the antigen of choice in our work with a sars vaccine candidate . in april 2014 , in collaboration with the university of maryland , school of medicine , we published results that showed our investigational vaccine candidates against both mers and sars blocked infection in laboratory studies . although the development of a mers vaccine candidate currently remains a pre-clinical program , we believe that our mers vaccine candidate offers a viable option to interested global public health authorities . sales of common stock in june 2014 , we completed a public offering of 28,750,000 shares of our common stock , including 3,750,000 shares of common stock that were issued upon the exercise in full of the option to purchase additional shares granted to the underwriters , at a price of $ 4.00 per share resulting in net proceeds of approximately $ 108 million . in

