the initial launch of the new commercialization strategy resulted in the following during 2015 : · grew lymphoseek sales by 142 % year over year , based on lymphoseek sales to navidea of $ 10.3 million for 2015 ; · ended the year at an annualized sales run rate for lymphoseek of over $ 15 million in revenue to navidea , which does not reflect the opportunity for additional growth in existing and expansion sales territories throughout 2016 ; and · achieved an increase of approximately 60 % in “ average daily doses sold ” from the end of 2014 through the end of 2015. we enter 2016 with positive momentum behind our new commercialization strategy . we expect our sales team 's strong contributions to continue to accelerate product revenues throughout the year . in addition , european sales revenues are expected to be generated from commercialization efforts with spepharm ag , an affiliate of norgine bv , to begin in the fourth quarter of 2016 . 36 in parallel , our r & d team is aggressively advancing our immunodiagnostics pipeline focused on significantly larger market opportunities including ra , which has a prevalence of approximately 3.8 million p atients in the u.s. and europe . the company continues to work toward a more focused development program using its manocept platform in immunodiagnostics , including the fda label expansion for lymphoseek into ra and ks . importantly , the costs of these development programs will be defrayed by nih grants awarded to the company in 2015 totaling over $ 3.8 million . in the near term , the company intends to : · meet with the fda before the end of march 2016 to share preclinical results on the intravenous route of administration ( ivroa ) and discuss and agree on the phase 1 and 2 clinical plan for our ra immunodiagnostic program . this is a follow-up meeting to the one that took place in may 2015 , where the company and the fda confirmed requirements for a preclinical submission package for the use of lymphoseek in ivroa ; · finalize preparations to initiate a phase 1 pilot trial evaluating subcutaneous injection of lymphoseek in active ra subjects in the first half of 2016. initiate a subsequent phase 1/2 registrational trial of iv-administered lymphoseek for the ra immunodiagnostic application during the second half of 2016 ; · expand patient enrollment in the fda/ema mandated pediatric trial for children with melanoma , rhabdomyosarcoma , or other solid tumors who are undergoing lymph node mapping and who meet special criteria for pediatric sentinel node biopsy . since the first patient was dosed in december 2015 , two new sites have been added including cincinnati children 's hospital medical center ; · enroll first patient at the md anderson cancer center in the company 's multi–center cervical cancer study ; · initiate patient enrollment in an investigator-initiated endometrial cancer study directed by dr. michael mchale at uc san diego health system ; and · expand patient enrollment in the cardiovascular immunodiagnostic study , an investigator-initiated study in collaboration with massachusetts general hospital . based on encouraging findings in the first patients dosed , we are very excited by the potential and are seeking to accelerate and expand this funded program using a protocol for ivroa . substantial progress on the manocept platform has resulted in several promising opportunities , including our r-nav venture which began in july 2014 , the formation of macrophage therapeutics , inc. in january 2015 , and macrophage therapeutics ' research collaboration agreement with bind therapeutics , inc. executed in june 2015 , which we believe may further expand the company 's pipeline . our progress in moving forward the manocept pipeline was made possible in large part by the may 2014 decision to refocus the company 's resources to better align the funding of our pipeline programs with the expected growth in lymphoseek revenue . this realignment has resulted in the near-term reduction of expenditures on the two neurological product candidates , nav4694 and nav5001 . in april 2015 , the company entered into an agreement with alseres to terminate the nav5001 sub-license agreement . the company is currently engaged in discussions related to the potential partnering or divestiture of nav4694 . our outlook following the u.s. approval of lymphoseek in march 2013 , the company undertook the initial stages of product launch in the u.s. with our commercialization partner , cardinal health , in may 2013. in october 2014 , we received approval from fda for a significantly expanded product label for lymphoseek . during the second quarter of 2015 , we successfully deployed navidea 's direct sales personnel as part of our effort to accelerate lymphoseek revenue growth in the remainder of 2015 and beyond . our strategy for increasing lymphoseek revenue focuses on a new brand strategy reflective of the expanded product label that allows the delivery of a compelling clinical value proposition message targeting the oncology treatment team including surgical oncologists and nuclear medicine physicians , focusing on areas where the concentration of cancer diagnosis occurs to increase the total number of hospitals using lymphoseek , and increasing the number of doses utilized per account , while continuing to evolve the brand . 37 our operating expenses in re cent years have been focused primarily on support of lymphoseek , our manocept platform , and nav4694 and nav5001 product development . we incurred approximately $ 12.8 million , $ 16.8 million and $ 23.7 million in total on research and development activities d uring the years ended december 31 , 2015 , 2014 and 2013 , respectively . story_separator_special_tag 2015 crg agreed to a reduction of that target and we were able to meet that reduced target , thereby complying with the covenant . as of the time of filing this report , it appears likely that we will need to draw on the platinum line of 40 credit on order to maintain compliance with the $ 5 million liquidity covenant of the crg loan agreement beginning in the se cond quarter of 2016 . our inability to meet the liquidity covenant would be an event of default under the crg loan agreement . in addition , if we are unable to reach the 2016 annual lymphoseek sales revenue target of $ 22.5 million , this would also be an e vent of default under the crg loan agreement ; however , potential shortfalls to this revenue covenant are curable by the company depositing 2.5 times the amount of the shortfall in a bank account controlled by crg . the events of default under the crg loan agreement also include a failure of platinum to perform its funding obligations und er the platinum loan agreement at any time as to which the company had negative ebitda for the most recent fiscal quarter , as a result either of platinum 's repudiation of it s obligations under the platinum loan agreement , or the occurrence of an insolvency event with respect to platinum . our ability to comply with these provisions may be affected by changes in our business condition or results of our operations , or other eve nts beyond our control . the breach of any of these covenants would result in a default under the crg loan agreement , permitting crg to accelerate the maturity of our indebtedness , increase the interest rate to the default rate of 18 % per annum , and invoke other remedies available to it under the loan agreement and the related security agreement , including sale of the assets securing the debt , which could raise substantial doubt about the company 's ability to continue as a going concern . such actions by cr g could materially adversely affect our operations , results of operations and financial condition , including causing us to substantially curtail our product development activities . see risk factors . in addition , the platinum loan agreement carries standard non-financial covenants typical for commercial loan agreements , many of which are similar to those contained in the crg loan agreement , that impose significant requirements on us . our ability to comply with these provisions may be affected by changes in our business condition or results of our operations , or other events beyond our control . the breach of any of these covenants would result in a default under the platinum loan agreement , permitting platinum to terminate our ability to obtain additional draws under the platinum loan agreement and accelerate the maturity of the debt , subject to the limitations of the subordination agreement with crg . such actions by platinum could materially adversely affect our operations , results of operations and financial condition , including causing us to substantially curtail our product development activities . as of the time of filing of this report , we are in compliance with all covenants under the platinum loan agreement . see risk factors . as of december 31 , 2015 , $ 27.3 million was still immediately available under the platinum credit facility , which was reaffirmed by platinum in march 2016. we believe that our current cash balance , our credit facility with platinum , our projected revenue derived from sales of lymphoseek , our ability to control expenses , the potential for partnership funding , the potential to access debt or royalty instruments , and the potential to access capital markets through our shelf registration ( though we have no current intention to raise additional equity capital using the shelf registration ) , provide us with adequate financial resources to continue to fund our business plan for the foreseeable future and enable us to reach cash flow breakeven from operations in the second half of 2016. operating activities . cash used in operations decreased $ 10.0 million to $ 19.1 million during 2015 compared to $ 29.1 million used in 2014. accounts and other receivables increased to $ 3.7 million at december 31 , 2015 from $ 894,000 at december 31 , 2014 , primarily due to increased receivables due from cardinal health resulting from the increase in sales of lymphoseek of $ 1.7 million coupled with $ 1.2 million of royalties due from devicor associated with the 2011 sale of the gds business . inventory levels decreased to $ 653,000 at december 31 , 2015 from $ 932,000 at december 31 , 2014 , primarily due to finished goods inventory sold and materials inventory consumed for process development , offset by materials and finished goods inventory produced . we expect inventory levels to increase during 2016 as we produce additional lymphoseek inventory to build our safety stock levels and meet increasing demand . prepaid expenses and other current assets decreased to $ 1.1 million at december 31 , 2015 from $ 1.3 million at december 31 , 2014 , primarily due the application of a prepaid deposit to a new lot of materials inventory , partially offset by incremental insurance premiums related to policy renewals . accounts payable increased to $ 1.8 million at december 31 , 2015 from $ 1.5 million at december 31 , 2014 , primarily due to net increased payables due to nav4694 , lymphoseek , investor relations , legal and professional services vendors , offset by net decreased payables due to regulatory , commercial , and medical education vendors . accrued liabilities and other current liabilities decreased to $ 3.0 million at december 31 , 2015 from $ 3.2 million at december 31 , 2014. decreased accruals for termination , legal and professional services , interest , and

oxford debt in march 2014 , we executed a loan and security agreement ( the oxford loan agreement ) with oxford finance , llc ( oxford ) , providing for a loan to the company of $ 30 million . pursuant to the oxford loan agreement , we issued oxford : ( 1 ) term notes in the aggregate principal amount of $ 30 million , bearing interest at 8.5 % ( the oxford notes ) , and ( 2 ) series kk warrants to purchase an aggregate of 391,032 shares of our common stock at an exercise price of $ 1.918 per share , expiring in march 2021 ( the series kk warrants ) . we began making monthly payments of interest only on april 1 , 2014 , and monthly payments of principal and interest beginning april 1 , 2015. in may 2015 , in connection with the consummation of the crg loan agreement , the company repaid all 44 amounts outstanding under the oxford loan agreement . the payoff amount of $ 31 . 7 million included payments of $ 289,000 as a pre-payment fee and $ 2.4 million as an end-of-term final payment fee . the series kk warrants remained outstandi ng as of december 31 , 2015. gecc/midcap debt in june 2013 , we executed a loan and security agreement ( the gecc/midcap loan agreement ) with general electric capital corporation ( gecc ) and midcap financial sbic , lp ( midcap ) , pursuant to which we issued gecc and midcap : ( 1 ) term notes in the aggregate principal amount of $ 25,000,000 ( the gecc/midcap notes ) , and ( 2 ) series hh warrants to purchase an aggregate of 301,205 shares of our common stock at an exercise price of $ 2.49 per share , expiring in june 2023 ( the series hh warrants ) . in march 2014 , in connection with the consummation of the oxford loan agreement , we repaid all amounts outstanding under the gecc/midcap loan agreement upon the receipt by gecc/midcap of a payoff amount of $ 26.7 million , including $ 500,000 as a pre-payment fee and $ 1,000,000 as an end-of-term final payment fee .


 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.
     ```oxford debt in march 2014 , we executed a loan and security agreement ( the oxford loan agreement ) with oxford finance , llc ( oxford ) , providing for a loan to the company of $ 30 million . pursuant to the oxford loan agreement , we issued oxford : ( 1 ) term notes in the aggregate principal amount of $ 30 million , bearing interest at 8.5 % ( the oxford notes ) , and ( 2 ) series kk warrants to purchase an aggregate of 391,032 shares of our common stock at an exercise price of $ 1.918 per share , expiring in march 2021 ( the series kk warrants ) . we began making monthly payments of interest only on april 1 , 2014 , and monthly payments of principal and interest beginning april 1 , 2015. in may 2015 , in connection with the consummation of the crg loan agreement , the company repaid all 44 amounts outstanding under the oxford loan agreement . the payoff amount of $ 31 . 7 million included payments of $ 289,000 as a pre-payment fee and $ 2.4 million as an end-of-term final payment fee . the series kk warrants remained outstandi ng as of december 31 , 2015. gecc/midcap debt in june 2013 , we executed a loan and security agreement ( the gecc/midcap loan agreement ) with general electric capital corporation ( gecc ) and midcap financial sbic , lp ( midcap ) , pursuant to which we issued gecc and midcap : ( 1 ) term notes in the aggregate principal amount of $ 25,000,000 ( the gecc/midcap notes ) , and ( 2 ) series hh warrants to purchase an aggregate of 301,205 shares of our common stock at an exercise price of $ 2.49 per share , expiring in june 2023 ( the series hh warrants ) . in march 2014 , in connection with the consummation of the oxford loan agreement , we repaid all amounts outstanding under the gecc/midcap loan agreement upon the receipt by gecc/midcap of a payoff amount of $ 26.7 million , including $ 500,000 as a pre-payment fee and $ 1,000,000 as an end-of-term final payment fee .
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 Suspicious Activity Report : the initial launch of the new commercialization strategy resulted in the following during 2015 : · grew lymphoseek sales by 142 % year over year , based on lymphoseek sales to navidea of $ 10.3 million for 2015 ; · ended the year at an annualized sales run rate for lymphoseek of over $ 15 million in revenue to navidea , which does not reflect the opportunity for additional growth in existing and expansion sales territories throughout 2016 ; and · achieved an increase of approximately 60 % in “ average daily doses sold ” from the end of 2014 through the end of 2015. we enter 2016 with positive momentum behind our new commercialization strategy . we expect our sales team 's strong contributions to continue to accelerate product revenues throughout the year . in addition , european sales revenues are expected to be generated from commercialization efforts with spepharm ag , an affiliate of norgine bv , to begin in the fourth quarter of 2016 . 36 in parallel , our r & d team is aggressively advancing our immunodiagnostics pipeline focused on significantly larger market opportunities including ra , which has a prevalence of approximately 3.8 million p atients in the u.s. and europe . the company continues to work toward a more focused development program using its manocept platform in immunodiagnostics , including the fda label expansion for lymphoseek into ra and ks . importantly , the costs of these development programs will be defrayed by nih grants awarded to the company in 2015 totaling over $ 3.8 million . in the near term , the company intends to : · meet with the fda before the end of march 2016 to share preclinical results on the intravenous route of administration ( ivroa ) and discuss and agree on the phase 1 and 2 clinical plan for our ra immunodiagnostic program . this is a follow-up meeting to the one that took place in may 2015 , where the company and the fda confirmed requirements for a preclinical submission package for the use of lymphoseek in ivroa ; · finalize preparations to initiate a phase 1 pilot trial evaluating subcutaneous injection of lymphoseek in active ra subjects in the first half of 2016. initiate a subsequent phase 1/2 registrational trial of iv-administered lymphoseek for the ra immunodiagnostic application during the second half of 2016 ; · expand patient enrollment in the fda/ema mandated pediatric trial for children with melanoma , rhabdomyosarcoma , or other solid tumors who are undergoing lymph node mapping and who meet special criteria for pediatric sentinel node biopsy . since the first patient was dosed in december 2015 , two new sites have been added including cincinnati children 's hospital medical center ; · enroll first patient at the md anderson cancer center in the company 's multi–center cervical cancer study ; · initiate patient enrollment in an investigator-initiated endometrial cancer study directed by dr. michael mchale at uc san diego health system ; and · expand patient enrollment in the cardiovascular immunodiagnostic study , an investigator-initiated study in collaboration with massachusetts general hospital . based on encouraging findings in the first patients dosed , we are very excited by the potential and are seeking to accelerate and expand this funded program using a protocol for ivroa . substantial progress on the manocept platform has resulted in several promising opportunities , including our r-nav venture which began in july 2014 , the formation of macrophage therapeutics , inc. in january 2015 , and macrophage therapeutics ' research collaboration agreement with bind therapeutics , inc. executed in june 2015 , which we believe may further expand the company 's pipeline . our progress in moving forward the manocept pipeline was made possible in large part by the may 2014 decision to refocus the company 's resources to better align the funding of our pipeline programs with the expected growth in lymphoseek revenue . this realignment has resulted in the near-term reduction of expenditures on the two neurological product candidates , nav4694 and nav5001 . in april 2015 , the company entered into an agreement with alseres to terminate the nav5001 sub-license agreement . the company is currently engaged in discussions related to the potential partnering or divestiture of nav4694 . our outlook following the u.s. approval of lymphoseek in march 2013 , the company undertook the initial stages of product launch in the u.s. with our commercialization partner , cardinal health , in may 2013. in october 2014 , we received approval from fda for a significantly expanded product label for lymphoseek . during the second quarter of 2015 , we successfully deployed navidea 's direct sales personnel as part of our effort to accelerate lymphoseek revenue growth in the remainder of 2015 and beyond . our strategy for increasing lymphoseek revenue focuses on a new brand strategy reflective of the expanded product label that allows the delivery of a compelling clinical value proposition message targeting the oncology treatment team including surgical oncologists and nuclear medicine physicians , focusing on areas where the concentration of cancer diagnosis occurs to increase the total number of hospitals using lymphoseek , and increasing the number of doses utilized per account , while continuing to evolve the brand . 37 our operating expenses in re cent years have been focused primarily on support of lymphoseek , our manocept platform , and nav4694 and nav5001 product development . we incurred approximately $ 12.8 million , $ 16.8 million and $ 23.7 million in total on research and development activities d uring the years ended december 31 , 2015 , 2014 and 2013 , respectively . story_separator_special_tag 2015 crg agreed to a reduction of that target and we were able to meet that reduced target , thereby complying with the covenant . as of the time of filing this report , it appears likely that we will need to draw on the platinum line of 40 credit on order to maintain compliance with the $ 5 million liquidity covenant of the crg loan agreement beginning in the se cond quarter of 2016 . our inability to meet the liquidity covenant would be an event of default under the crg loan agreement . in addition , if we are unable to reach the 2016 annual lymphoseek sales revenue target of $ 22.5 million , this would also be an e vent of default under the crg loan agreement ; however , potential shortfalls to this revenue covenant are curable by the company depositing 2.5 times the amount of the shortfall in a bank account controlled by crg . the events of default under the crg loan agreement also include a failure of platinum to perform its funding obligations und er the platinum loan agreement at any time as to which the company had negative ebitda for the most recent fiscal quarter , as a result either of platinum 's repudiation of it s obligations under the platinum loan agreement , or the occurrence of an insolvency event with respect to platinum . our ability to comply with these provisions may be affected by changes in our business condition or results of our operations , or other eve nts beyond our control . the breach of any of these covenants would result in a default under the crg loan agreement , permitting crg to accelerate the maturity of our indebtedness , increase the interest rate to the default rate of 18 % per annum , and invoke other remedies available to it under the loan agreement and the related security agreement , including sale of the assets securing the debt , which could raise substantial doubt about the company 's ability to continue as a going concern . such actions by cr g could materially adversely affect our operations , results of operations and financial condition , including causing us to substantially curtail our product development activities . see risk factors . in addition , the platinum loan agreement carries standard non-financial covenants typical for commercial loan agreements , many of which are similar to those contained in the crg loan agreement , that impose significant requirements on us . our ability to comply with these provisions may be affected by changes in our business condition or results of our operations , or other events beyond our control . the breach of any of these covenants would result in a default under the platinum loan agreement , permitting platinum to terminate our ability to obtain additional draws under the platinum loan agreement and accelerate the maturity of the debt , subject to the limitations of the subordination agreement with crg . such actions by platinum could materially adversely affect our operations , results of operations and financial condition , including causing us to substantially curtail our product development activities . as of the time of filing of this report , we are in compliance with all covenants under the platinum loan agreement . see risk factors . as of december 31 , 2015 , $ 27.3 million was still immediately available under the platinum credit facility , which was reaffirmed by platinum in march 2016. we believe that our current cash balance , our credit facility with platinum , our projected revenue derived from sales of lymphoseek , our ability to control expenses , the potential for partnership funding , the potential to access debt or royalty instruments , and the potential to access capital markets through our shelf registration ( though we have no current intention to raise additional equity capital using the shelf registration ) , provide us with adequate financial resources to continue to fund our business plan for the foreseeable future and enable us to reach cash flow breakeven from operations in the second half of 2016. operating activities . cash used in operations decreased $ 10.0 million to $ 19.1 million during 2015 compared to $ 29.1 million used in 2014. accounts and other receivables increased to $ 3.7 million at december 31 , 2015 from $ 894,000 at december 31 , 2014 , primarily due to increased receivables due from cardinal health resulting from the increase in sales of lymphoseek of $ 1.7 million coupled with $ 1.2 million of royalties due from devicor associated with the 2011 sale of the gds business . inventory levels decreased to $ 653,000 at december 31 , 2015 from $ 932,000 at december 31 , 2014 , primarily due to finished goods inventory sold and materials inventory consumed for process development , offset by materials and finished goods inventory produced . we expect inventory levels to increase during 2016 as we produce additional lymphoseek inventory to build our safety stock levels and meet increasing demand . prepaid expenses and other current assets decreased to $ 1.1 million at december 31 , 2015 from $ 1.3 million at december 31 , 2014 , primarily due the application of a prepaid deposit to a new lot of materials inventory , partially offset by incremental insurance premiums related to policy renewals . accounts payable increased to $ 1.8 million at december 31 , 2015 from $ 1.5 million at december 31 , 2014 , primarily due to net increased payables due to nav4694 , lymphoseek , investor relations , legal and professional services vendors , offset by net decreased payables due to regulatory , commercial , and medical education vendors . accrued liabilities and other current liabilities decreased to $ 3.0 million at december 31 , 2015 from $ 3.2 million at december 31 , 2014. decreased accruals for termination , legal and professional services , interest , and

