if successful , we plan to advance this product candidate into pivotal multi-center phase iii trials and reference the nda for iluvien for dme ( including the clinical data from the fame study and the manufacturing and stability data ) in potential posterior uveitis regulatory filings . we also plan to use a new inserter , with a smaller gauge needle than that used in the fame study , in any future posterior uveitis phase iii trials . under our restated pfizer agreement , we granted pfizer an exclusive option under various circumstances to license the development and commercialization worldwide of an injectable , bioerodible sustained release insert delivering latanoprost ( latanoprost product ) for the treatment of human ophthalmic disease or conditions other than uveitis . an investigator-sponsored phase i/ii dose-escalation study has been initiated to assess the safety and efficacy of this insert , which utilizes a fourth generation of our durasert technology , in patients with elevated iop . we are currently developing a prototype of this implant that contains biosilicon to assist in the delivery of latanoprost . if successful , we plan to advance the new prototype into a multi-center phase ii trial . 45 in august 2011 , we entered into an evaluation agreement with ( hss ) to investigate our durasert drug delivery technologies in orthopedics . approved products . our two fda-approved products utilize two earlier generations of our durasert technology system , second-generation retisert for the treatment of posterior uveitis , and first-generation vitrasert for the treatment of aids-related cytomegalovirus ( cmv ) retinitis . we have licensed both of these products and the technologies underlying them to bausch & lomb . retisert delivers fac to provide sustained release treatment for approximately two and a half years , and vitrasert delivers ganciclovir to provide sustained release treatment for six to nine months . biosilicon . biosilicon , the second key technology system we are targeting for sustained drug delivery , utilizes fully-erodible , nanostructured , porous material . our primary focus is on tethadur , which utilizes biosilicon to deliver large biologic molecules , including peptides and proteins , on a sustained basis . our biosilicon technology is also designed to deliver smaller molecules . equity financings in january 2011 , we sold 2,210,000 units at a price of $ 5.00 per unit for gross proceeds of $ 11.1 million . each unit consisted of ( i ) one share of common stock and ( ii ) one warrant to purchase 0.25 share of common stock at $ 5.00 per share . license and collaboration agreements alimera upon execution of the restated alimera agreement in march 2008 , we received consideration of $ 12.0 million in cash and alimera cancelled $ 5.7 million of accrued development cost liabilities , including related penalties and accrued interest , owed by us to alimera as of march 14 , 2008. in addition , we received a $ 15.0 million conditional note ( subject to acceleration upon the occurrence of certain defined liquidity events ) , alimera agreed to pay us a $ 25.0 million milestone payment upon fda approval of iluvien for dme and alimera assumed all financial responsibility for the development of licensed products under the restated alimera agreement , which had previously been shared equally , including reimbursement of approved development costs incurred by us in support of the ongoing clinical studies of iluvien and anticipated regulatory submissions . in exchange , we decreased our share in any future profits , as defined , on sales of iluvien by alimera from 50 % to 20 % , subject to an offset of 20 % of pre-profitability commercialization costs , as defined , incurred by alimera . in the event alimera sublicenses commercialization , we are entitled to receive 20 % of royalties and 33 % of non-royalty consideration received by alimera , less certain permitted deductions . alimera has indicated that it intends to commercialize iluvien , if approved , through a direct sales force in the united states and to seek marketing collaboration partners for the commercialization of iluvien outside of the united states . pursuant to the restated alimera agreement , a total of $ 18.3 million of deferred revenue was recognized as revenue on a straight-line basis over the 21.5 month performance obligation period from the amendment effective date through december 31 , 2009. following consummation of the restated alimera agreement , we received conditional note interest payments and reimbursements of approved development and patent maintenance costs totaling $ 247,000 , $ 1.5 million and $ 1.9 million during the years ended june 30 , 2011 , 2010 and 2009 , respectively . in addition , on april 27 , 2010 , following consummation of its initial public offering , alimera paid the $ 15.0 million conditional note in full . cash consideration received from alimera during the performance period was recognized as revenue ratably over the performance period , including immediate revenue recognition catch-up for the pro rata period from the amendment effective date to the date of each receipt . cash consideration received subsequent to december 31 , 2009 has been recognized as revenue upon receipt or at such earlier date , if applicable , on which any such amount is both fixed and determinable and reasonably assured of collection . 46 pfizer under the original pfizer agreement , beginning in calendar year 2008 pfizer paid us $ 500,000 quarterly in consideration of our costs in performing the research program . because we were unable to define the period of our performance obligations under this agreement , all payments received from pfizer , totaling $ 7.75 million , were classified in non-current deferred revenue . in june 2011 , we entered into the restated pfizer agreement to focus solely on the development of a sustained-release bioerodible implant designed to deliver latanoprost by subconjuntival injection . story_separator_special_tag for fiscal 2010 , we recognized $ 342,000 in retisert royalty income and $ 1.2 million of retisert royalties otherwise payable to us was retained by bausch & 51 lomb as the result of a 2005 advance payment from bausch & lomb , thereby completing an advance royalty agreement . retisert royalty income for fiscal 2011 represented a 19.3 % decrease compared to the aggregate of fiscal 2010 royalty income and amounts retained by bausch & lomb . for fiscal 2012 , we expect retisert royalty income to continue its historical downward trend . research and development research and development decreased by $ 130,000 , or 2 % , to $ 6.9 million for fiscal 2011 from $ 7.0 million for fiscal 2010. this decrease was primarily attributable to a federal therapeutic discovery grant , partially offset by a small increase in research and development costs . we may significantly increase our research and development expense in fiscal 2012 , primarily dependent upon whether we initiate clinical trials and other product development activities that we fund internally . general and administrative general and administrative costs increased by $ 1.1 million , or 16 % , to $ 8.1 million for fiscal 2011 from $ 7.0 million for fiscal 2010 , primarily attributable to increased stock-based compensation and professional fees . change in fair value of derivatives change in fair value of derivatives represented income of $ 1.1 million for fiscal 2011 compared to expense of $ 339,000 for fiscal 2010. detachable warrants issued in share offerings denominated in a $ were recorded as derivative liabilities , subject to revaluation at subsequent reporting dates . the change in fair value of derivatives for fiscal 2011 , determined using the black-scholes valuation model , was predominantly due to the expiration of approximately 3.7 million , or 95 % , of the a $ -denominated warrants during the year . the corresponding net expense in fiscal 2010 was primarily due to a substantial increase in the market price of our shares in fiscal 2010 ( resulting in a smaller spread between the market price and the us $ -equivalent exercise prices of the warrants ) , partially offset by the decrease in the weighted average remaining life of the underlying warrants during the period . we are required to re-value these warrants at each subsequent balance sheet date , and changes in their fair values will result in adjustments to our recorded derivative liabilities ( $ 170,000 at june 30 , 2011 ) and a corresponding income or expense in our statement of operations . although fluctuations in the fair value of the warrants will continue to impact our future quarterly and annual operating results until the last-to-expire of these warrants in july 2012 , we expect the significantly lower number of outstanding warrants and short remaining duration to result in less significant income and expense fluctuations as compared to the prior two years . income tax ( expense ) benefit income tax benefit of $ 218,000 in fiscal 2011 compares to $ 23,000 of income tax expense for fiscal 2010 , primarily attributable to a net reduction of deferred tax liabilities . 52 years ended june 30 , 2010 and 2009 replace_table_token_17_th revenues revenues increased by approximately $ 10.9 million , or 90 % , to $ 23.1 million for fiscal 2010 from $ 12.2 million for fiscal 2009. in each fiscal year , revenues were almost entirely attributable to our collaboration agreement with alimera , consisting of ( i ) the portion of the upfront license consideration that we recognized in the given year ; and ( ii ) the aggregate of conditional note payments and reimbursement of our development costs received from alimera that we recognized in the given fiscal year . for fiscal 2010 , the alimera-related revenues included payment in full by alimera of the $ 15.0 million conditional note plus interest . during fiscal 2010 , $ 1.2 million of retisert royalties otherwise payable were retained by bausch & lomb , thereby completing the advance royalty agreement , and $ 342,000 were recorded as royalty income compared to $ 1.6 million retained by bausch & lomb in fiscal 2009 and $ 0 recorded as royalty income . the fiscal 2010 total of royalty income and amounts otherwise payable of approximately $ 1.5 million compared to approximately $ 1.6 million of royalties otherwise payable for fiscal 2009 , a decrease of 6.1 % . research and development research and development decreased by approximately $ 1.0 million , or 13 % , to $ 7.0 million for fiscal 2010 from $ 8.0 million for fiscal 2009. this decrease was primarily attributable to an approximate $ 1.1 million reduction of u.k.-based research and development costs , primarily related to third party costs of our brachysil clinical program and third party biosilicon manufacturing development for the period prior to consummation of our intrinsiq supply agreement . approximately $ 82,000 of the total decrease was attributable to the relative strengthening of the u.s. dollar against the pound sterling . general and administrative general and administrative costs decreased by approximately $ 1.8 million , or 21 % , to approximately $ 7.0 million for fiscal 2010 from $ 8.8 million for fiscal 2009. this net decrease was primarily attributable to the following factors : the absence of a $ 1.3 million provision for losses in fiscal 2009 on a note receivable , 53 the elimination of approximately $ 400,000 of legal fees and consulting services incurred in fiscal 2009 directly related to the june 2008 reincorporation , an approximate $ 500,000 reduction in u.s. salaries and benefits , primarily related to fiscal 2009 salary and severance agreement costs of a former executive officer , partially offset by : an approximate $ 480,000 increase in stock-based compensation . change in fair value of derivatives change in fair value of derivatives represented an expense of $ 339,000 for fiscal 2010 compared to income of $

liquidity and capital resources during fiscal 2009 to 2011 , we financed our operations primarily from license fees , research and development funding and contingent cash payments from our collaboration partners and , to a lesser degree , from a january 2011 registered direct offering of our equity securities . at june 30 , 2011 , our principal sources of liquidity consisted of cash , cash equivalents and marketable securities totaling $ 24.1 million . our cash equivalents are invested in institutional money market funds and our marketable securities are invested in investment-grade corporate debt , government agency securities and commercial paper with maturities at june 30 , 2011 ranging from one to nine months . with the exception of fiscal 2010 , we have incurred operating losses since inception and , at june 30 , 2011 , we had a total accumulated deficit of $ 226.9 million . we generally expect negative cash flows from operations on a quarterly basis at least until such time as one or more of our product candidates achieves regulatory approval and achieves sufficient sales . we believe we can fund our operations as currently conducted into at least calendar year 2013. whether we will require , or desire , to raise additional capital will be influenced by many factors , including , but not limited to : the timely development and regulatory approval and successful commercialization of iluvien and receipt of milestone , royalty and other payments ; the scope and extent of our internally funded operations and programs , including the clinical trials for the latanoprost product and the posterior uveitis insert , any new product candidates and any new business opportunities ; our ability to establish and maintain strategic arrangements for products and product candidates


 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 during fiscal 2009 to 2011 , we financed our operations primarily from license fees , research and development funding and contingent cash payments from our collaboration partners and , to a lesser degree , from a january 2011 registered direct offering of our equity securities . at june 30 , 2011 , our principal sources of liquidity consisted of cash , cash equivalents and marketable securities totaling $ 24.1 million . our cash equivalents are invested in institutional money market funds and our marketable securities are invested in investment-grade corporate debt , government agency securities and commercial paper with maturities at june 30 , 2011 ranging from one to nine months . with the exception of fiscal 2010 , we have incurred operating losses since inception and , at june 30 , 2011 , we had a total accumulated deficit of $ 226.9 million . we generally expect negative cash flows from operations on a quarterly basis at least until such time as one or more of our product candidates achieves regulatory approval and achieves sufficient sales . we believe we can fund our operations as currently conducted into at least calendar year 2013. whether we will require , or desire , to raise additional capital will be influenced by many factors , including , but not limited to : the timely development and regulatory approval and successful commercialization of iluvien and receipt of milestone , royalty and other payments ; the scope and extent of our internally funded operations and programs , including the clinical trials for the latanoprost product and the posterior uveitis insert , any new product candidates and any new business opportunities ; our ability to establish and maintain strategic arrangements for products and product candidates
```    
 Suspicious Activity Report : if successful , we plan to advance this product candidate into pivotal multi-center phase iii trials and reference the nda for iluvien for dme ( including the clinical data from the fame study and the manufacturing and stability data ) in potential posterior uveitis regulatory filings . we also plan to use a new inserter , with a smaller gauge needle than that used in the fame study , in any future posterior uveitis phase iii trials . under our restated pfizer agreement , we granted pfizer an exclusive option under various circumstances to license the development and commercialization worldwide of an injectable , bioerodible sustained release insert delivering latanoprost ( latanoprost product ) for the treatment of human ophthalmic disease or conditions other than uveitis . an investigator-sponsored phase i/ii dose-escalation study has been initiated to assess the safety and efficacy of this insert , which utilizes a fourth generation of our durasert technology , in patients with elevated iop . we are currently developing a prototype of this implant that contains biosilicon to assist in the delivery of latanoprost . if successful , we plan to advance the new prototype into a multi-center phase ii trial . 45 in august 2011 , we entered into an evaluation agreement with ( hss ) to investigate our durasert drug delivery technologies in orthopedics . approved products . our two fda-approved products utilize two earlier generations of our durasert technology system , second-generation retisert for the treatment of posterior uveitis , and first-generation vitrasert for the treatment of aids-related cytomegalovirus ( cmv ) retinitis . we have licensed both of these products and the technologies underlying them to bausch & lomb . retisert delivers fac to provide sustained release treatment for approximately two and a half years , and vitrasert delivers ganciclovir to provide sustained release treatment for six to nine months . biosilicon . biosilicon , the second key technology system we are targeting for sustained drug delivery , utilizes fully-erodible , nanostructured , porous material . our primary focus is on tethadur , which utilizes biosilicon to deliver large biologic molecules , including peptides and proteins , on a sustained basis . our biosilicon technology is also designed to deliver smaller molecules . equity financings in january 2011 , we sold 2,210,000 units at a price of $ 5.00 per unit for gross proceeds of $ 11.1 million . each unit consisted of ( i ) one share of common stock and ( ii ) one warrant to purchase 0.25 share of common stock at $ 5.00 per share . license and collaboration agreements alimera upon execution of the restated alimera agreement in march 2008 , we received consideration of $ 12.0 million in cash and alimera cancelled $ 5.7 million of accrued development cost liabilities , including related penalties and accrued interest , owed by us to alimera as of march 14 , 2008. in addition , we received a $ 15.0 million conditional note ( subject to acceleration upon the occurrence of certain defined liquidity events ) , alimera agreed to pay us a $ 25.0 million milestone payment upon fda approval of iluvien for dme and alimera assumed all financial responsibility for the development of licensed products under the restated alimera agreement , which had previously been shared equally , including reimbursement of approved development costs incurred by us in support of the ongoing clinical studies of iluvien and anticipated regulatory submissions . in exchange , we decreased our share in any future profits , as defined , on sales of iluvien by alimera from 50 % to 20 % , subject to an offset of 20 % of pre-profitability commercialization costs , as defined , incurred by alimera . in the event alimera sublicenses commercialization , we are entitled to receive 20 % of royalties and 33 % of non-royalty consideration received by alimera , less certain permitted deductions . alimera has indicated that it intends to commercialize iluvien , if approved , through a direct sales force in the united states and to seek marketing collaboration partners for the commercialization of iluvien outside of the united states . pursuant to the restated alimera agreement , a total of $ 18.3 million of deferred revenue was recognized as revenue on a straight-line basis over the 21.5 month performance obligation period from the amendment effective date through december 31 , 2009. following consummation of the restated alimera agreement , we received conditional note interest payments and reimbursements of approved development and patent maintenance costs totaling $ 247,000 , $ 1.5 million and $ 1.9 million during the years ended june 30 , 2011 , 2010 and 2009 , respectively . in addition , on april 27 , 2010 , following consummation of its initial public offering , alimera paid the $ 15.0 million conditional note in full . cash consideration received from alimera during the performance period was recognized as revenue ratably over the performance period , including immediate revenue recognition catch-up for the pro rata period from the amendment effective date to the date of each receipt . cash consideration received subsequent to december 31 , 2009 has been recognized as revenue upon receipt or at such earlier date , if applicable , on which any such amount is both fixed and determinable and reasonably assured of collection . 46 pfizer under the original pfizer agreement , beginning in calendar year 2008 pfizer paid us $ 500,000 quarterly in consideration of our costs in performing the research program . because we were unable to define the period of our performance obligations under this agreement , all payments received from pfizer , totaling $ 7.75 million , were classified in non-current deferred revenue . in june 2011 , we entered into the restated pfizer agreement to focus solely on the development of a sustained-release bioerodible implant designed to deliver latanoprost by subconjuntival injection . story_separator_special_tag for fiscal 2010 , we recognized $ 342,000 in retisert royalty income and $ 1.2 million of retisert royalties otherwise payable to us was retained by bausch & 51 lomb as the result of a 2005 advance payment from bausch & lomb , thereby completing an advance royalty agreement . retisert royalty income for fiscal 2011 represented a 19.3 % decrease compared to the aggregate of fiscal 2010 royalty income and amounts retained by bausch & lomb . for fiscal 2012 , we expect retisert royalty income to continue its historical downward trend . research and development research and development decreased by $ 130,000 , or 2 % , to $ 6.9 million for fiscal 2011 from $ 7.0 million for fiscal 2010. this decrease was primarily attributable to a federal therapeutic discovery grant , partially offset by a small increase in research and development costs . we may significantly increase our research and development expense in fiscal 2012 , primarily dependent upon whether we initiate clinical trials and other product development activities that we fund internally . general and administrative general and administrative costs increased by $ 1.1 million , or 16 % , to $ 8.1 million for fiscal 2011 from $ 7.0 million for fiscal 2010 , primarily attributable to increased stock-based compensation and professional fees . change in fair value of derivatives change in fair value of derivatives represented income of $ 1.1 million for fiscal 2011 compared to expense of $ 339,000 for fiscal 2010. detachable warrants issued in share offerings denominated in a $ were recorded as derivative liabilities , subject to revaluation at subsequent reporting dates . the change in fair value of derivatives for fiscal 2011 , determined using the black-scholes valuation model , was predominantly due to the expiration of approximately 3.7 million , or 95 % , of the a $ -denominated warrants during the year . the corresponding net expense in fiscal 2010 was primarily due to a substantial increase in the market price of our shares in fiscal 2010 ( resulting in a smaller spread between the market price and the us $ -equivalent exercise prices of the warrants ) , partially offset by the decrease in the weighted average remaining life of the underlying warrants during the period . we are required to re-value these warrants at each subsequent balance sheet date , and changes in their fair values will result in adjustments to our recorded derivative liabilities ( $ 170,000 at june 30 , 2011 ) and a corresponding income or expense in our statement of operations . although fluctuations in the fair value of the warrants will continue to impact our future quarterly and annual operating results until the last-to-expire of these warrants in july 2012 , we expect the significantly lower number of outstanding warrants and short remaining duration to result in less significant income and expense fluctuations as compared to the prior two years . income tax ( expense ) benefit income tax benefit of $ 218,000 in fiscal 2011 compares to $ 23,000 of income tax expense for fiscal 2010 , primarily attributable to a net reduction of deferred tax liabilities . 52 years ended june 30 , 2010 and 2009 replace_table_token_17_th revenues revenues increased by approximately $ 10.9 million , or 90 % , to $ 23.1 million for fiscal 2010 from $ 12.2 million for fiscal 2009. in each fiscal year , revenues were almost entirely attributable to our collaboration agreement with alimera , consisting of ( i ) the portion of the upfront license consideration that we recognized in the given year ; and ( ii ) the aggregate of conditional note payments and reimbursement of our development costs received from alimera that we recognized in the given fiscal year . for fiscal 2010 , the alimera-related revenues included payment in full by alimera of the $ 15.0 million conditional note plus interest . during fiscal 2010 , $ 1.2 million of retisert royalties otherwise payable were retained by bausch & lomb , thereby completing the advance royalty agreement , and $ 342,000 were recorded as royalty income compared to $ 1.6 million retained by bausch & lomb in fiscal 2009 and $ 0 recorded as royalty income . the fiscal 2010 total of royalty income and amounts otherwise payable of approximately $ 1.5 million compared to approximately $ 1.6 million of royalties otherwise payable for fiscal 2009 , a decrease of 6.1 % . research and development research and development decreased by approximately $ 1.0 million , or 13 % , to $ 7.0 million for fiscal 2010 from $ 8.0 million for fiscal 2009. this decrease was primarily attributable to an approximate $ 1.1 million reduction of u.k.-based research and development costs , primarily related to third party costs of our brachysil clinical program and third party biosilicon manufacturing development for the period prior to consummation of our intrinsiq supply agreement . approximately $ 82,000 of the total decrease was attributable to the relative strengthening of the u.s. dollar against the pound sterling . general and administrative general and administrative costs decreased by approximately $ 1.8 million , or 21 % , to approximately $ 7.0 million for fiscal 2010 from $ 8.8 million for fiscal 2009. this net decrease was primarily attributable to the following factors : the absence of a $ 1.3 million provision for losses in fiscal 2009 on a note receivable , 53 the elimination of approximately $ 400,000 of legal fees and consulting services incurred in fiscal 2009 directly related to the june 2008 reincorporation , an approximate $ 500,000 reduction in u.s. salaries and benefits , primarily related to fiscal 2009 salary and severance agreement costs of a former executive officer , partially offset by : an approximate $ 480,000 increase in stock-based compensation . change in fair value of derivatives change in fair value of derivatives represented an expense of $ 339,000 for fiscal 2010 compared to income of $

