anabolic agents , like forteo ( teriparatide ) , are used to increase bone mineral density , or bmd , and to reduce the risk of fracture . we believe abaloparatide has the potential to increase bmd and bone quality to a greater degree , at more sites , at a faster rate , and in more patients , than other approved drugs for the treatment of osteoporosis . we are developing two formulations of abaloparatide : abaloparatide-sc is an injectable subcutaneous formulation of abaloparatide . our phase 3 study of abalopartatide-sc is designed to evaluate whether abaloparatide-sc is superior to placebo for prevention of vertebral fracture . the study is also designed to evaluate whether abaloparatide-sc is superior to open-label teriparatide for greater bmd improvement at major skeletal sites and for a lower occurrence of hypercalcemia , a condition in which the calcium level in a patient 's blood is above normal . on december 21 , 2014 , we announced positive top-line data from the phase 3 clinical trial ( active ) of the investigational drug abaloparatide-sc , or the active trial , evaluating the investigational drug abaloparatide-sc for potential use in the reduction of fractures in postmenopausal osteoporosis . on the primary endpoint , abaloparatide-sc ( n=690 , fracture rate 0.72 % ) achieved a statistically significant 83 % reduction of incident vertebral fractures ( defined as new and worsening vertebral fractures ) as compared 81 to the placebo-treated group ( n=711 , fracture rate 4.36 % ) ( p < 0.0001 ) . the active trial included an open-label teriparatide [ rdna origin ] injection treatment group ( n=717 , fracture rate 0.98 % ) that showed a statistically significant 78 % reduction of incident vertebral fractures as compared to the placebo-treated group ( p < 0.0001 ) . on the secondary endpoints , as compared to placebo , abaloparatide-sc achieved : a statistically significant fracture-rate reduction of 43 % in the adjudicated non-vertebral fracture subset of patients ; a statistically significant reduction of 45 % in the adjudicated clinical fracture group , which includes both vertebral and non-vertebral fractures ; and a statistically significant difference in the time to first incident of nonvertebral fracture in both the adjudicated non-vertebral fracture ( p=0.0489 ) and the clinical fracture subset of patients ( p=0.0112 ) . the open-label teriparatide injection treatment group , as compared to placebo , achieved a fracture-rate reduction of 28 % in the adjudicated non-vertebral fracture subset of patients and a reduction of 29 % in the adjudicated clinical fracture group ; these differences were not statistically significantly different as compared to the placebo group . the fracture-rate reduction observed in the abaloparatide-sc treatment group , as compared to open-label teriparatide , was not statistically significant . in january 2015 , the u.s. food and drug administration , or fda , provided us with comments on the draft statistical analysis plan , or sap , that was used for the analysis of the top-line data from the phase 3 clinical trial . in its correspondence , the fda recommended that the primary endpoint of incident vertebral fracture reduction be performed excluding worsening vertebral fractures and including only new vertebral fractures . using the fda-recommended analysis , on the primary endpoint of reduction of new vertebral fractures ( excluding worsening ) , abaloparatide-sc ( n=690 , fracture rate 0.58 % ) achieved a statistically significant 86 % reduction as compared to the placebo-treated group ( n=711 , fracture rate 4.22 % ) ( p < 0.0001 ) . the open-label teriparatide injection treatment group ( n=717 , fracture rate 0.84 % ) showed a statistically significant 80 % reduction of new vertebral fractures ( excluding worsening ) as compared to the placebo-treated group ( p < 0.0001 ) . the fda also recommended , for the secondary endpoint of non-vertebral fractures , that our definition was generally acceptable provided that sternal ( breast bone ) and patellar ( knee cap ) fractures were excluded . in the original top-line data announced for the secondary endpoint of non-vertebral fracture reduction noted above , we had excluded sternum and patella fractures , and abaloparatide-sc ( n=824 , kaplan-meier estimated , or km , fracture rate 2.7 % ) achieved a statistically significant reduction compared to the placebo-treated group ( n=821 , km fracture rate 4.7 % ) , and the hazard ratio for abaloparatide vs. placebo was 0.57 ( p=0.0489 ) ; the open label teriparatide injection treatment group ( n=818 , km fracture rate 3.3 % ) had a hazard ratio of 0.72 ( p=ns ) compared to the placebo-treated group . the fda also recommended , for the secondary endpoint of bone mineral density , or bmd , that we use an analysis of covariance , or ancova , approach with the last observation carried forward for missing data . the mixed-effect model for repeated measures , or mmrm , method , which was used in the bmd secondary endpoint in the top-line data announced in december 2014 , is to be applied for sensitivity analysis . our phase 3 study includes a 6-month extension period in order to obtain 24-months of fracture data , as requested by the fda . patients from the abaloparatide and placebo groups from our phase 3 clinical trial are eligible to continue in an extension study , in which they are receiving an approved alendronate therapy for osteoporosis management . story_separator_special_tag we estimate the fair value of each option using the black-scholes option pricing model that takes into account the fair value of our common stock , the exercise price , the expected life of the option , the expected volatility of our common stock , expected dividends on our common stock , and the risk-free interest rate over the expected life of the option . due to the limited trading history of our common stock since our june 2014 initial public offering , we use the simplified method described in the sec 's staff accounting bulletin no . 107 , share-based payment , to determine the expected life of the option grants . the estimate of expected volatility is based on a review of the historical volatility of similar publicly held companies in the biotechnology field over a period commensurate with the option 's expected term . we have never declared or paid any cash dividends on our common stock and we do not expect to do so in the foreseeable future . accordingly , we use an expected dividend yield of zero . the risk-free rate is based on the u.s. treasury yield curve in effect at the time of grant valuation for a period commensurate with the option 's expected term . these assumptions are highly subjective and changes in them could significantly impact the value of the option and hence the related compensation expense . we apply an estimated forfeiture rate to current period expense to recognize compensation expense only for those awards expected to vest . we estimate forfeitures based upon historical data , adjusted for known trends , and will adjust the estimate of forfeitures if actual forfeitures differ or are expected to differ from such estimates . subsequent changes in estimated forfeitures are recognized through a cumulative adjustment in the period of change and also will impact the amount of stock-based compensation expense in future periods . 87 stock-based compensation expense recognized for options granted to consultants is also based upon the fair value of the options issued , as determined by the black-scholes option pricing model . however , the unvested portion of such option grants is re-measured at each reporting period , until such time as the option is fully vested . fair value measurements we define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date . we determine fair value based on the assumptions market participants use when pricing the asset or liability . we also use the fair value hierarchy that prioritizes the information used to develop these assumptions . the fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets ( level 1 ) and the lowest priority to unobservable inputs ( level 3 ) . our financial assets and liabilities are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement . the three levels of the fair value hierarchy , and its applicability to our financial assets , are described below : level 1 unadjusted quoted prices in active markets that are accessible at the measurement date of identical , unrestricted assets . level 2 quoted prices for similar assets , or inputs that are observable , either directly or indirectly , for substantially the full term through corroboration with observable market data . level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to the security . level 3 pricing inputs are unobservable for the asset , that is , inputs that reflect the reporting entity 's own assumptions about the assumptions market participants would use in pricing the asset . level 3 includes private investments that are supported by little or no market activity . as of december 31 , 2014 , we held financial assets that were measured using level 1 and level 2 inputs . as of december 31 , 2013 , we held financial assets and liabilities that were measured using level 1 , level 2 and level 3 inputs . assets measured using level 1 inputs include money market funds , which are valued using quoted market prices with no valuation adjustments applied . assets measured using level 2 inputs include marketable securities that consist primarily of domestic corporate debt securities ( direct issuance bonds , corporate bonds , etc . ) and are valued using third-party pricing resources , which generally use interest rates and yield curves observable at commonly quoted intervals of similar assets as observable inputs for pricing . prior to our initial public offering , assets and liabilities measured using level 3 inputs included our stock asset , stock liability , other liability and warrant liability . the stock asset represented the prepaid balance and the stock liability represented the accrued balance of the research and development expense related to the stock dividends to be issued to nordic in shares of our series a-6 convertible preferred stock ( or in shares of common stock upon listing our common stock on a national exchange ) which is being recognized ratably over the estimated per patient treatment period under the three work statements executed with nordic , or the nordic work statements . the other liability represented the liability to issue shares of our series a-6 convertible preferred stock for services rendered in connection with the nordic work statements . the liability was calculated based upon the number of shares earned by nordic through the performance of clinical trial services multiplied by the estimated fair value of our series a-6 convertible preferred stock at each reporting date . the fair values of the stock asset , stock liability and other liability were based upon the fair value of our series a-6 convertible preferred stock as determined using the probability-weighted expected return method , or

cash flows from financing activities net cash provided by financing activities for the year ended december 31 , 2014 was $ 142.6 million , as compared to $ 34.7 million of net cash provided by financing activities for the year ended december 31 , 2013. net cash provided by financing activities during the year ended december 31 , 2014 consisted of $ 50.4 million of net proceeds from our initial public offering , $ 53.4 million of net proceeds from our additional public offering that closed october 7 , 2014 , $ 27.4 million of net proceeds from the issuance of our series b-2 convertible preferred stock in february and march of 2014 , and $ 24.6 million of net proceeds from our new credit facility , partially offset by payments under our original credit facility of $ 13.2 million . net cash provided by financing activities for the year ended december 31 , 2013 consisted of $ 42.9 million of net proceeds from the issuance of our series b convertible preferred stock in april and may of 2013 , partially offset by payments under our credit facility of $ 8.2 million . net cash provided by financing activities for the year ended december 31 , 2012 consists of $ 12.5 million of proceeds from our credit facility and $ 0.3 million of net proceeds from stock option exercises , offset by $ 3.5 million of payments on our credit facility . financings sales of common stock on june 11 , 2014 , we completed our initial public offering whereby we sold 6,500,000 shares of our common stock at a price of $ 8.00 per share . the shares began trading on the nasdaq global market on june 6 , 2014. in connection with the completion of the offering , all outstanding shares of our convertible preferred stock converted into 19,465,132 shares of common stock , and 2,862,654 shares of common stock were issued in satisfaction of accumulated dividends accrued on the preferred stock .


 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.
     ```cash flows from financing activities net cash provided by financing activities for the year ended december 31 , 2014 was $ 142.6 million , as compared to $ 34.7 million of net cash provided by financing activities for the year ended december 31 , 2013. net cash provided by financing activities during the year ended december 31 , 2014 consisted of $ 50.4 million of net proceeds from our initial public offering , $ 53.4 million of net proceeds from our additional public offering that closed october 7 , 2014 , $ 27.4 million of net proceeds from the issuance of our series b-2 convertible preferred stock in february and march of 2014 , and $ 24.6 million of net proceeds from our new credit facility , partially offset by payments under our original credit facility of $ 13.2 million . net cash provided by financing activities for the year ended december 31 , 2013 consisted of $ 42.9 million of net proceeds from the issuance of our series b convertible preferred stock in april and may of 2013 , partially offset by payments under our credit facility of $ 8.2 million . net cash provided by financing activities for the year ended december 31 , 2012 consists of $ 12.5 million of proceeds from our credit facility and $ 0.3 million of net proceeds from stock option exercises , offset by $ 3.5 million of payments on our credit facility . financings sales of common stock on june 11 , 2014 , we completed our initial public offering whereby we sold 6,500,000 shares of our common stock at a price of $ 8.00 per share . the shares began trading on the nasdaq global market on june 6 , 2014. in connection with the completion of the offering , all outstanding shares of our convertible preferred stock converted into 19,465,132 shares of common stock , and 2,862,654 shares of common stock were issued in satisfaction of accumulated dividends accrued on the preferred stock .
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 Suspicious Activity Report : anabolic agents , like forteo ( teriparatide ) , are used to increase bone mineral density , or bmd , and to reduce the risk of fracture . we believe abaloparatide has the potential to increase bmd and bone quality to a greater degree , at more sites , at a faster rate , and in more patients , than other approved drugs for the treatment of osteoporosis . we are developing two formulations of abaloparatide : abaloparatide-sc is an injectable subcutaneous formulation of abaloparatide . our phase 3 study of abalopartatide-sc is designed to evaluate whether abaloparatide-sc is superior to placebo for prevention of vertebral fracture . the study is also designed to evaluate whether abaloparatide-sc is superior to open-label teriparatide for greater bmd improvement at major skeletal sites and for a lower occurrence of hypercalcemia , a condition in which the calcium level in a patient 's blood is above normal . on december 21 , 2014 , we announced positive top-line data from the phase 3 clinical trial ( active ) of the investigational drug abaloparatide-sc , or the active trial , evaluating the investigational drug abaloparatide-sc for potential use in the reduction of fractures in postmenopausal osteoporosis . on the primary endpoint , abaloparatide-sc ( n=690 , fracture rate 0.72 % ) achieved a statistically significant 83 % reduction of incident vertebral fractures ( defined as new and worsening vertebral fractures ) as compared 81 to the placebo-treated group ( n=711 , fracture rate 4.36 % ) ( p < 0.0001 ) . the active trial included an open-label teriparatide [ rdna origin ] injection treatment group ( n=717 , fracture rate 0.98 % ) that showed a statistically significant 78 % reduction of incident vertebral fractures as compared to the placebo-treated group ( p < 0.0001 ) . on the secondary endpoints , as compared to placebo , abaloparatide-sc achieved : a statistically significant fracture-rate reduction of 43 % in the adjudicated non-vertebral fracture subset of patients ; a statistically significant reduction of 45 % in the adjudicated clinical fracture group , which includes both vertebral and non-vertebral fractures ; and a statistically significant difference in the time to first incident of nonvertebral fracture in both the adjudicated non-vertebral fracture ( p=0.0489 ) and the clinical fracture subset of patients ( p=0.0112 ) . the open-label teriparatide injection treatment group , as compared to placebo , achieved a fracture-rate reduction of 28 % in the adjudicated non-vertebral fracture subset of patients and a reduction of 29 % in the adjudicated clinical fracture group ; these differences were not statistically significantly different as compared to the placebo group . the fracture-rate reduction observed in the abaloparatide-sc treatment group , as compared to open-label teriparatide , was not statistically significant . in january 2015 , the u.s. food and drug administration , or fda , provided us with comments on the draft statistical analysis plan , or sap , that was used for the analysis of the top-line data from the phase 3 clinical trial . in its correspondence , the fda recommended that the primary endpoint of incident vertebral fracture reduction be performed excluding worsening vertebral fractures and including only new vertebral fractures . using the fda-recommended analysis , on the primary endpoint of reduction of new vertebral fractures ( excluding worsening ) , abaloparatide-sc ( n=690 , fracture rate 0.58 % ) achieved a statistically significant 86 % reduction as compared to the placebo-treated group ( n=711 , fracture rate 4.22 % ) ( p < 0.0001 ) . the open-label teriparatide injection treatment group ( n=717 , fracture rate 0.84 % ) showed a statistically significant 80 % reduction of new vertebral fractures ( excluding worsening ) as compared to the placebo-treated group ( p < 0.0001 ) . the fda also recommended , for the secondary endpoint of non-vertebral fractures , that our definition was generally acceptable provided that sternal ( breast bone ) and patellar ( knee cap ) fractures were excluded . in the original top-line data announced for the secondary endpoint of non-vertebral fracture reduction noted above , we had excluded sternum and patella fractures , and abaloparatide-sc ( n=824 , kaplan-meier estimated , or km , fracture rate 2.7 % ) achieved a statistically significant reduction compared to the placebo-treated group ( n=821 , km fracture rate 4.7 % ) , and the hazard ratio for abaloparatide vs. placebo was 0.57 ( p=0.0489 ) ; the open label teriparatide injection treatment group ( n=818 , km fracture rate 3.3 % ) had a hazard ratio of 0.72 ( p=ns ) compared to the placebo-treated group . the fda also recommended , for the secondary endpoint of bone mineral density , or bmd , that we use an analysis of covariance , or ancova , approach with the last observation carried forward for missing data . the mixed-effect model for repeated measures , or mmrm , method , which was used in the bmd secondary endpoint in the top-line data announced in december 2014 , is to be applied for sensitivity analysis . our phase 3 study includes a 6-month extension period in order to obtain 24-months of fracture data , as requested by the fda . patients from the abaloparatide and placebo groups from our phase 3 clinical trial are eligible to continue in an extension study , in which they are receiving an approved alendronate therapy for osteoporosis management . story_separator_special_tag we estimate the fair value of each option using the black-scholes option pricing model that takes into account the fair value of our common stock , the exercise price , the expected life of the option , the expected volatility of our common stock , expected dividends on our common stock , and the risk-free interest rate over the expected life of the option . due to the limited trading history of our common stock since our june 2014 initial public offering , we use the simplified method described in the sec 's staff accounting bulletin no . 107 , share-based payment , to determine the expected life of the option grants . the estimate of expected volatility is based on a review of the historical volatility of similar publicly held companies in the biotechnology field over a period commensurate with the option 's expected term . we have never declared or paid any cash dividends on our common stock and we do not expect to do so in the foreseeable future . accordingly , we use an expected dividend yield of zero . the risk-free rate is based on the u.s. treasury yield curve in effect at the time of grant valuation for a period commensurate with the option 's expected term . these assumptions are highly subjective and changes in them could significantly impact the value of the option and hence the related compensation expense . we apply an estimated forfeiture rate to current period expense to recognize compensation expense only for those awards expected to vest . we estimate forfeitures based upon historical data , adjusted for known trends , and will adjust the estimate of forfeitures if actual forfeitures differ or are expected to differ from such estimates . subsequent changes in estimated forfeitures are recognized through a cumulative adjustment in the period of change and also will impact the amount of stock-based compensation expense in future periods . 87 stock-based compensation expense recognized for options granted to consultants is also based upon the fair value of the options issued , as determined by the black-scholes option pricing model . however , the unvested portion of such option grants is re-measured at each reporting period , until such time as the option is fully vested . fair value measurements we define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date . we determine fair value based on the assumptions market participants use when pricing the asset or liability . we also use the fair value hierarchy that prioritizes the information used to develop these assumptions . the fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets ( level 1 ) and the lowest priority to unobservable inputs ( level 3 ) . our financial assets and liabilities are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement . the three levels of the fair value hierarchy , and its applicability to our financial assets , are described below : level 1 unadjusted quoted prices in active markets that are accessible at the measurement date of identical , unrestricted assets . level 2 quoted prices for similar assets , or inputs that are observable , either directly or indirectly , for substantially the full term through corroboration with observable market data . level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to the security . level 3 pricing inputs are unobservable for the asset , that is , inputs that reflect the reporting entity 's own assumptions about the assumptions market participants would use in pricing the asset . level 3 includes private investments that are supported by little or no market activity . as of december 31 , 2014 , we held financial assets that were measured using level 1 and level 2 inputs . as of december 31 , 2013 , we held financial assets and liabilities that were measured using level 1 , level 2 and level 3 inputs . assets measured using level 1 inputs include money market funds , which are valued using quoted market prices with no valuation adjustments applied . assets measured using level 2 inputs include marketable securities that consist primarily of domestic corporate debt securities ( direct issuance bonds , corporate bonds , etc . ) and are valued using third-party pricing resources , which generally use interest rates and yield curves observable at commonly quoted intervals of similar assets as observable inputs for pricing . prior to our initial public offering , assets and liabilities measured using level 3 inputs included our stock asset , stock liability , other liability and warrant liability . the stock asset represented the prepaid balance and the stock liability represented the accrued balance of the research and development expense related to the stock dividends to be issued to nordic in shares of our series a-6 convertible preferred stock ( or in shares of common stock upon listing our common stock on a national exchange ) which is being recognized ratably over the estimated per patient treatment period under the three work statements executed with nordic , or the nordic work statements . the other liability represented the liability to issue shares of our series a-6 convertible preferred stock for services rendered in connection with the nordic work statements . the liability was calculated based upon the number of shares earned by nordic through the performance of clinical trial services multiplied by the estimated fair value of our series a-6 convertible preferred stock at each reporting date . the fair values of the stock asset , stock liability and other liability were based upon the fair value of our series a-6 convertible preferred stock as determined using the probability-weighted expected return method , or

