” overview we are a clinical stage biopharmaceutical company pioneering a novel disease-modifying therapeutic approach to treat what we believe to be a key underlying cause of alzheimer 's and other degenerative diseases . our approach is based on the seminal discovery of the presence of porphyromonas gingivalis , or p. gingivalis , and its secreted toxic virulence factor proteases , called gingipains , in the brains of greater than 90 % of more than 100 alzheimer 's patients observed across multiple studies to date . additionally , we have observed that p. gingivalis infection causes alzheimer 's pathology in animal models , and these effects have been successfully treated with a gingipain inhibitor in preclinical studies . our proprietary lead drug candidate , atuzaginstat ( cor388 ) , is an orally administered , brain-penetrating small molecule gingipain inhibitor . atuzaginstat was well-tolerated with no concerning safety signals in our phase 1a and phase 1b clinical trials conducted to date , which enrolled a total of 67 subjects , including nine patients with mild to moderate alzheimer 's disease . we initiated a global phase 2/3 clinical trial of atuzaginstat , called the gain trial , in mild to moderate alzheimer 's patients in april 2019 in the united states and in september 2019 in europe and expect top-line results by the end of 2021. partial clinical hold on february 12 , 2021 the company received a letter from the fda stating that a partial clinical hold has been placed on atuzaginstat ( cor388 ) impacting the open-label extension ( ole ) phase of the company 's ongoing phase 2/3 study , the gain trial . under the hold , no new participants will be enrolled in the ole and currently enrolled ole participants will be discontinued . participants in the fully enrolled ( n=643 ) double-blind , placebo-controlled randomized phase of the gain trial will continue to receive study drug at their assigned dose . the partial clinical hold was initiated following the review of hepatic adverse events in the atuzaginstat trial by the fda . these events have been reversible and without any known long-term adverse effects for the participants . cortexyme will continue to collaborate with the fda on the overall development program for atuzaginstat . for additional information on the various risks posed by the partial clinical hold , please read item 1a . risk factors included in this report . business update regarding covid-19 the current covid-19 pandemic has presented a substantial public health and economic challenge around the world and is affecting our employees , patients , communities and business operations , as well as the u.s. economy and financial markets . the full extent to which the covid-19 pandemic will directly or indirectly impact our business , results of operations and financial condition will depend on future developments that are highly uncertain and can not be accurately predicted , including new information that may emerge concerning covid-19 , the actions taken to contain it or treat its impact and the economic impact on local , regional , national and international markets . to date , our employees , vendors and clinical trial sites have been able to advance our gain clinical trial , complete enrollment and continue the open label extension for eligible patients completing the gain trial . at this time the impact of the covid-19 pandemic has not resulted in changes to our previously stated analysis timelines for the gain trial . we are continuing to assess the potential impact of the covid-19 pandemic on our business and operations , including our expenses , preclinical operations and clinical trials . our office-based employees have been working primarily from home since mid-march 2020 , while ensuring essential staffing levels in our operations remain in place , including maintaining key personnel in our lab facility . we have developed plans to enable all employees to voluntarily return to work in our offices and lab facility which include safety protocols , such as face coverings , social distancing , frequent cleaning , and covid-19 testing . we continue to assess the risks which take into account 61 applicable public health authority and local government guidelines and are designed to ensure community and employee safety . however , the effects of the covid-19 pandemic continue to rapidly evolve and even if our employees more broadly return to work in our offices and lab facility , we may have to resume a more restrictive remote work model , whether as a result of spikes or surges in covid-19 infection or hospitalization rates or public authority mandates . we are not currently experiencing any significant supply chain disruptions and have drug supply for the full gain trial on hand . we have diversified our vendor relationships geographically for both starting materials and manufacturing . however , in the future , the ongoing covid-19 pandemic , may result in the inability of some of our suppliers to deliver drug supplies on a timely basis . we have taken and continues to take proactive measures to maintain the integrity of its ongoing clinical trial . to potentially mitigate some of the risks of covid-19 and based on interest and the ability to maintain milestone timelines , we enrolled approximately an additional 70 subjects in the gain trial . despite these efforts , the covid-19 pandemic could impact timelines , subject follow up visits and study completion . we will continue to monitor the covid-19 situation and its impact on the ability to continue the development of , and seek regulatory approvals for , our product candidates . for additional information on the various risks posed by the covid-19 pandemic , please read item 1a . story_separator_special_tag our ability to use our remaining nols may be further limited if we experience an ownership change in connection with this offering , future offerings or as a result of future changes in our stock ownership . 65 results of operations comparison of the years ended december 31 , 2020 and 2019 the following table summarizes our results of operations for the periods indicated ( dollars in thousands ) : replace_table_token_2_th research and development expenses the following table summarizes our research and development expenses : replace_table_token_3_th for the year ended december 31 , 2020 research and development expenses increased $ 31.1 million or 102.9 % , from 2019. this was primarily due to an increase of $ 18.7 million in expenses for our lead product candidate , atuzaginstat , which is in our phase 2/3 gain clinical trial . this increase is attributed to expenses of $ 10.1 million in clinical trial expense , $ 7.0 million in drug manufacturing costs as we scaled production of atuzaginstat and other clinical costs of approximately $ 1.6 million in support of advancing atuzaginstat 's development through the study . personnel-related expenses , including stock-based compensation , increased by $ 9.4 million due to an increase in headcount as we scaled the gain clinical trial and our clinical manufacturing operating relationships and capabilities during 2020. in addition , we had an increase of $ 2.5 million in research and development expenses related to other preclinical programs currently in development and $ 0.4 million increase in our facilities costs . we expect our gain trial related expenses to decrease in 2021 as the trial concludes with top-line results being reported by the end of 2021. this decrease will be offset to some extent as we start our phase 2 peak trial and advance other pipeline indications through pre-clinical and the clinical trial process . general and administrative expenses for the year ended december 31 , 2020 , general and administrative expenses increased $ 8.6 million , or 96.4 % , from 2019 primarily due to an increase of $ 7.7 million in personnel costs , including stock-based compensation of $ 6.1 million , as a result of an increase in our employee headcount and an increase of $ 1.3 million in insurance , legal , accounting , investor relations and other compliance cost associated with becoming a public company offset by a decrease in travel and entertainment expense of $ 0.4 million due to travel restrictions related to covid-19 . interest income for the year ended december 31 , 2020 , interest income decreased $ 0.1 million or 6.6 % due to a decrease in interest rate yields on the portfolio during the year . 66 story_separator_special_tag roman ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > payments due by period less than one year 1 to 3 years 3 to 5 years more than 5 years total operating and finance leases $ 245 $ 211 $ — $ — $ 456 the terms of certain third party contract organizations for clinical trials , non-clinical studies and testing , manufacturing , and other services and products for operating purposes require us to pay potential future payments based on milestone achievement by the vendor . the amount and timing of the payments under these contracts varies based upon the timing of the services performed . we have not included in this disclosure any such contingent payment obligations as the amount , timing and likelihood of such payments are not known . 68 off-balance sheet arrangements since our inception , we have not engaged in any off-balance sheet arrangements , as defined in the rules and regulations of the securities and exchange commission . indemnification as permitted under delaware law and in accordance with our bylaws , we indemnify our officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity . we are also party to indemnification agreements with our officers and directors . we believe the fair value of the indemnification rights and agreements is minimal . accordingly , we have not recorded any liabilities for these indemnification rights and agreements as of december 31 , 2020 and december 31 , 2019. recent accounting pronouncements adopted in august 2018 , the fasb issued asu 2018-13 , fair value measurement ( topic 820 ) : disclosure framework—changes to the disclosure requirements for fair value measurement . the new guidance changes disclosure requirements related to fair value measurements as part of the disclosure framework project . the disclosure framework project aims to improve the effectiveness of disclosures in the notes to the financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements . the company adopted this effective january 1 , 2020. the adoption of this pronouncement did not have a material impact on its financial statements or disclosures . in august 2018 , the fasb issued asu no . 2018-15 , intangibles—goodwill and other—internal-use software ( subtopic 350-40 ) ” : customer 's accounting for implementation costs incurred in a cloud computing arrangement that is a service contract ( “ asu 2018-15 ” ) , which clarifies the accounting for implementation costs in cloud computing arrangements . the company adopted the standard prospectively on january 1 , 2020. the adoption of this pronouncement did not have a material impact on its financial statements . recent accounting pronouncements not yet adopted the following are new accounting pronouncements that the company is evaluating for future impacts on its financial statements : financial instruments—credit losses : in june 2016 , the fasb issued asu 2016-13 , financial instruments—credit losses ( topic 326 ) : measurement of credit losses on financial instruments which amends the principles around the recognition of credit losses by mandating entities incorporate an estimate of current expected credit losses when determining the value of certain assets . the guidance also amends

liquidity and capital resources we have incurred cumulative net losses and negative cash flows from operations since our inception and anticipate we will continue to incur net losses for the foreseeable future . as of december 31 , 2020 , we had an accumulated deficit of $ 146.7 million . as of december 31 , 2020 , we had cash , cash equivalents and investments of $ 184.3 million . based on our existing business plan , we believe that our existing cash , cash equivalents and investments will be sufficient to fund our anticipated level of operations through at least 2023. we will continue to require additional capital to develop our drug candidates and fund operations for the foreseeable future . we may seek to raise capital through private or public equity or debt financings , collaborative or other arrangements with other companies , or through other sources of financing . adequate additional funding may not be available to us on acceptable terms or at all . our failure to raise capital as and when needed could have a negative impact on our financial condition and our ability to pursue our business strategies . we anticipate that we will need to raise substantial additional capital , the requirements of which will depend on many factors , including : the progress , costs , trial design , results of and timing of our phase 2/3 gain trial and other clinical trials of atuzaginstat , including our phase 2 peak trial for parkinson 's disease and for potential additional indications that we may pursue beyond alzheimer 's and parkinson 's disease ; the willingness of the fda or ema to accept our phase 2/3 gain trial , as well as data from our completed and planned clinical and preclinical studies and other work , as the basis for review and approval of atuzaginstat for alzheimer 's disease ; the outcome , costs and timing of seeking and obtaining fda , ema and any other regulatory approvals ; the number and characteristics of drug candidates that we pursue ; our ability to manufacture sufficient quantities of our drug candidates ; our need to expand our research and development activities


 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 we have incurred cumulative net losses and negative cash flows from operations since our inception and anticipate we will continue to incur net losses for the foreseeable future . as of december 31 , 2020 , we had an accumulated deficit of $ 146.7 million . as of december 31 , 2020 , we had cash , cash equivalents and investments of $ 184.3 million . based on our existing business plan , we believe that our existing cash , cash equivalents and investments will be sufficient to fund our anticipated level of operations through at least 2023. we will continue to require additional capital to develop our drug candidates and fund operations for the foreseeable future . we may seek to raise capital through private or public equity or debt financings , collaborative or other arrangements with other companies , or through other sources of financing . adequate additional funding may not be available to us on acceptable terms or at all . our failure to raise capital as and when needed could have a negative impact on our financial condition and our ability to pursue our business strategies . we anticipate that we will need to raise substantial additional capital , the requirements of which will depend on many factors , including : the progress , costs , trial design , results of and timing of our phase 2/3 gain trial and other clinical trials of atuzaginstat , including our phase 2 peak trial for parkinson 's disease and for potential additional indications that we may pursue beyond alzheimer 's and parkinson 's disease ; the willingness of the fda or ema to accept our phase 2/3 gain trial , as well as data from our completed and planned clinical and preclinical studies and other work , as the basis for review and approval of atuzaginstat for alzheimer 's disease ; the outcome , costs and timing of seeking and obtaining fda , ema and any other regulatory approvals ; the number and characteristics of drug candidates that we pursue ; our ability to manufacture sufficient quantities of our drug candidates ; our need to expand our research and development activities
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 Suspicious Activity Report : ” overview we are a clinical stage biopharmaceutical company pioneering a novel disease-modifying therapeutic approach to treat what we believe to be a key underlying cause of alzheimer 's and other degenerative diseases . our approach is based on the seminal discovery of the presence of porphyromonas gingivalis , or p. gingivalis , and its secreted toxic virulence factor proteases , called gingipains , in the brains of greater than 90 % of more than 100 alzheimer 's patients observed across multiple studies to date . additionally , we have observed that p. gingivalis infection causes alzheimer 's pathology in animal models , and these effects have been successfully treated with a gingipain inhibitor in preclinical studies . our proprietary lead drug candidate , atuzaginstat ( cor388 ) , is an orally administered , brain-penetrating small molecule gingipain inhibitor . atuzaginstat was well-tolerated with no concerning safety signals in our phase 1a and phase 1b clinical trials conducted to date , which enrolled a total of 67 subjects , including nine patients with mild to moderate alzheimer 's disease . we initiated a global phase 2/3 clinical trial of atuzaginstat , called the gain trial , in mild to moderate alzheimer 's patients in april 2019 in the united states and in september 2019 in europe and expect top-line results by the end of 2021. partial clinical hold on february 12 , 2021 the company received a letter from the fda stating that a partial clinical hold has been placed on atuzaginstat ( cor388 ) impacting the open-label extension ( ole ) phase of the company 's ongoing phase 2/3 study , the gain trial . under the hold , no new participants will be enrolled in the ole and currently enrolled ole participants will be discontinued . participants in the fully enrolled ( n=643 ) double-blind , placebo-controlled randomized phase of the gain trial will continue to receive study drug at their assigned dose . the partial clinical hold was initiated following the review of hepatic adverse events in the atuzaginstat trial by the fda . these events have been reversible and without any known long-term adverse effects for the participants . cortexyme will continue to collaborate with the fda on the overall development program for atuzaginstat . for additional information on the various risks posed by the partial clinical hold , please read item 1a . risk factors included in this report . business update regarding covid-19 the current covid-19 pandemic has presented a substantial public health and economic challenge around the world and is affecting our employees , patients , communities and business operations , as well as the u.s. economy and financial markets . the full extent to which the covid-19 pandemic will directly or indirectly impact our business , results of operations and financial condition will depend on future developments that are highly uncertain and can not be accurately predicted , including new information that may emerge concerning covid-19 , the actions taken to contain it or treat its impact and the economic impact on local , regional , national and international markets . to date , our employees , vendors and clinical trial sites have been able to advance our gain clinical trial , complete enrollment and continue the open label extension for eligible patients completing the gain trial . at this time the impact of the covid-19 pandemic has not resulted in changes to our previously stated analysis timelines for the gain trial . we are continuing to assess the potential impact of the covid-19 pandemic on our business and operations , including our expenses , preclinical operations and clinical trials . our office-based employees have been working primarily from home since mid-march 2020 , while ensuring essential staffing levels in our operations remain in place , including maintaining key personnel in our lab facility . we have developed plans to enable all employees to voluntarily return to work in our offices and lab facility which include safety protocols , such as face coverings , social distancing , frequent cleaning , and covid-19 testing . we continue to assess the risks which take into account 61 applicable public health authority and local government guidelines and are designed to ensure community and employee safety . however , the effects of the covid-19 pandemic continue to rapidly evolve and even if our employees more broadly return to work in our offices and lab facility , we may have to resume a more restrictive remote work model , whether as a result of spikes or surges in covid-19 infection or hospitalization rates or public authority mandates . we are not currently experiencing any significant supply chain disruptions and have drug supply for the full gain trial on hand . we have diversified our vendor relationships geographically for both starting materials and manufacturing . however , in the future , the ongoing covid-19 pandemic , may result in the inability of some of our suppliers to deliver drug supplies on a timely basis . we have taken and continues to take proactive measures to maintain the integrity of its ongoing clinical trial . to potentially mitigate some of the risks of covid-19 and based on interest and the ability to maintain milestone timelines , we enrolled approximately an additional 70 subjects in the gain trial . despite these efforts , the covid-19 pandemic could impact timelines , subject follow up visits and study completion . we will continue to monitor the covid-19 situation and its impact on the ability to continue the development of , and seek regulatory approvals for , our product candidates . for additional information on the various risks posed by the covid-19 pandemic , please read item 1a . story_separator_special_tag our ability to use our remaining nols may be further limited if we experience an ownership change in connection with this offering , future offerings or as a result of future changes in our stock ownership . 65 results of operations comparison of the years ended december 31 , 2020 and 2019 the following table summarizes our results of operations for the periods indicated ( dollars in thousands ) : replace_table_token_2_th research and development expenses the following table summarizes our research and development expenses : replace_table_token_3_th for the year ended december 31 , 2020 research and development expenses increased $ 31.1 million or 102.9 % , from 2019. this was primarily due to an increase of $ 18.7 million in expenses for our lead product candidate , atuzaginstat , which is in our phase 2/3 gain clinical trial . this increase is attributed to expenses of $ 10.1 million in clinical trial expense , $ 7.0 million in drug manufacturing costs as we scaled production of atuzaginstat and other clinical costs of approximately $ 1.6 million in support of advancing atuzaginstat 's development through the study . personnel-related expenses , including stock-based compensation , increased by $ 9.4 million due to an increase in headcount as we scaled the gain clinical trial and our clinical manufacturing operating relationships and capabilities during 2020. in addition , we had an increase of $ 2.5 million in research and development expenses related to other preclinical programs currently in development and $ 0.4 million increase in our facilities costs . we expect our gain trial related expenses to decrease in 2021 as the trial concludes with top-line results being reported by the end of 2021. this decrease will be offset to some extent as we start our phase 2 peak trial and advance other pipeline indications through pre-clinical and the clinical trial process . general and administrative expenses for the year ended december 31 , 2020 , general and administrative expenses increased $ 8.6 million , or 96.4 % , from 2019 primarily due to an increase of $ 7.7 million in personnel costs , including stock-based compensation of $ 6.1 million , as a result of an increase in our employee headcount and an increase of $ 1.3 million in insurance , legal , accounting , investor relations and other compliance cost associated with becoming a public company offset by a decrease in travel and entertainment expense of $ 0.4 million due to travel restrictions related to covid-19 . interest income for the year ended december 31 , 2020 , interest income decreased $ 0.1 million or 6.6 % due to a decrease in interest rate yields on the portfolio during the year . 66 story_separator_special_tag roman ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > payments due by period less than one year 1 to 3 years 3 to 5 years more than 5 years total operating and finance leases $ 245 $ 211 $ — $ — $ 456 the terms of certain third party contract organizations for clinical trials , non-clinical studies and testing , manufacturing , and other services and products for operating purposes require us to pay potential future payments based on milestone achievement by the vendor . the amount and timing of the payments under these contracts varies based upon the timing of the services performed . we have not included in this disclosure any such contingent payment obligations as the amount , timing and likelihood of such payments are not known . 68 off-balance sheet arrangements since our inception , we have not engaged in any off-balance sheet arrangements , as defined in the rules and regulations of the securities and exchange commission . indemnification as permitted under delaware law and in accordance with our bylaws , we indemnify our officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity . we are also party to indemnification agreements with our officers and directors . we believe the fair value of the indemnification rights and agreements is minimal . accordingly , we have not recorded any liabilities for these indemnification rights and agreements as of december 31 , 2020 and december 31 , 2019. recent accounting pronouncements adopted in august 2018 , the fasb issued asu 2018-13 , fair value measurement ( topic 820 ) : disclosure framework—changes to the disclosure requirements for fair value measurement . the new guidance changes disclosure requirements related to fair value measurements as part of the disclosure framework project . the disclosure framework project aims to improve the effectiveness of disclosures in the notes to the financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements . the company adopted this effective january 1 , 2020. the adoption of this pronouncement did not have a material impact on its financial statements or disclosures . in august 2018 , the fasb issued asu no . 2018-15 , intangibles—goodwill and other—internal-use software ( subtopic 350-40 ) ” : customer 's accounting for implementation costs incurred in a cloud computing arrangement that is a service contract ( “ asu 2018-15 ” ) , which clarifies the accounting for implementation costs in cloud computing arrangements . the company adopted the standard prospectively on january 1 , 2020. the adoption of this pronouncement did not have a material impact on its financial statements . recent accounting pronouncements not yet adopted the following are new accounting pronouncements that the company is evaluating for future impacts on its financial statements : financial instruments—credit losses : in june 2016 , the fasb issued asu 2016-13 , financial instruments—credit losses ( topic 326 ) : measurement of credit losses on financial instruments which amends the principles around the recognition of credit losses by mandating entities incorporate an estimate of current expected credit losses when determining the value of certain assets . the guidance also amends

