text: Cash flows for the year ended December 31, 2019, 2018 and 2017
text: Operating Activities: Net cash used in operating activities was $9.9 million for the year ended December 31, 2019 and is comprised of $16.5 million in net loss, $4.5 million change in deferred income taxes and $0.7 million loss from the sale of the investment in JVP offset by $1.0 million in stock based compensation, $2.0 million in depreciation and amortization and $7.1 million, primarily changes in net operating assets and liabilities.
text: Net cash provided by operating activities was $25.6 million for the year ended December 31, 2018 and is comprised of $20.7 million in net income, $1.6 million in stock-based compensation, $1.8 million in depreciation and amortization, $3.4 million change in warrant liability and a change in deferred income taxes of $2.5 million, offset by a $4.4 million change in net operating assets and liabilities.
text: Net cash provided by operating activities was $16.6 million for the year ended December 31, 2017 and is comprised of $22.8 million in net income, $0.8 million in stock-based compensation, $0.8 million in depreciation and amortization, $0.6 million change in net operating assets and liabilities, offset by $2.2 million change in the warrant liability and a change in deferred income taxes of $6.2 million.
text: Investing Activities: During the year ended December 31, 2019, cash used in investing activities of $3.8 million was related to purchases of marketable securities of $24.5 million, purchases of property and equipment of $0.4 million and purchase of additional investment in JVP of $0.7 million offset by redemptions of marketable securities of $18.3 million and $3.5 million from the sale of our interest in JVP.
text: During the year ended December 31, 2018, cash used in investing activities of $13.2 million was related to purchase of investments of $11.3 million, the purchase of assets under the May 2018 Patent Assignment Agreement of $1.0 million and a $0.9 million investment in the JVP fund.
text: During the year ended December 31, 2017, cash used in investing activities of $2.0 million was related to the purchase of assets under the first Patent Assignment Agreement, offset by $0.1 million in cash distribution received from our investment in the JVP fund.
text: Financing Activities: During the year ended December 31, 2019, we did not have any activity related to financing.
text: During the year ended December 31, 2018, net cash used in financing activities of $21.6 million was primarily from the redemption of Series A-1 Preferred Stock totaling $19.9 million, $2.0 million related to the share repurchase program, offset by $0.3 million of proceeds received from the exercise of stock options.
text: During the year ended December 31, 2017, net cash provided by financing activities of $12.8 million was primarily from the issuance of Series A-1 Preferred Stock totaling $14.4 million and a Common Share offering for $12.0 million, offset by redeeming and retiring Series A Preferred Stock Financing of $13.8 million.

Table:
For the Years Ended December 31,
2019
2018
2017
(in thousands)
Net cash provided by (used in) operating activities
$(9,885)
$25,601
$16,586
Net cash used in investing activities
$(3,822)
(13,203)
(1,873)
Net cash provided by (used in) financing activities
$—
(21,556)
12,778

Questions:
question: What is the percentage change in the net cash provided by operating activities between 2017 and 2018?
answer: 54.35
derivation: (25,601 - 16,586)/16,586 
scale: percent
question: What is the average net cash provided by (used in) financing activities between 2017 and 2018?
answer: -4389
derivation: (12,778 +(- 21,556))/2 
scale: thousand
question: What is the percentage change in net cash used in investing activities between 2018 and 2019?
answer: -71.05
derivation: (3,822 - 13,203)/13,203 
scale: percent