Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 13, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | BRAINSTORM CELL THERAPEUTICS INC. | |
Entity Central Index Key | 1,137,883 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | BCLI | |
Entity Common Stock, Shares Outstanding | 18,842,726 |
INTERIM CONDENSED CONSOLIDATED
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 2,464 | $ 547 |
Short-term deposit (Note 4) | 8,083 | 9,443 |
Account receivable | 318 | 306 |
Prepaid expenses and other current assets | 86 | 148 |
Total current assets | 10,951 | 10,444 |
Long-Term Assets: | ||
Prepaid expenses and other long-term assets | 26 | 25 |
Property and Equipment, Net | 358 | 297 |
Total Long-Term Assets | 384 | 322 |
Total assets | 11,335 | 10,766 |
Current Liabilities: | ||
Accounts payables | 275 | 345 |
Accrued expenses | 204 | 152 |
Deferred grant income (Note 5) | 5,250 | 0 |
Other accounts payable | 411 | 367 |
Total current liabilities | 6,140 | 864 |
Stockholders' Equity: | ||
Common stock of $0.00005 par value - Authorized: 100,000,000 shares at September 30, 2017 and December 31, 2016 respectively; Issued and outstanding: 18,842,726 and 18,687,987 shares at September 30, 2017 and December 31, 2016 respectively. | 11 | 11 |
Additional paid-in-capital | 85,535 | 85,014 |
Accumulated deficit | (80,351) | (75,123) |
Total stockholders' equity | 5,195 | 9,902 |
Total liabilities and stockholders' equity | $ 11,335 | $ 10,766 |
INTERIM CONDENSED CONSOLIDATED3
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Common stock, par value (in dollars per share) | $ 0.00005 | $ 0.00005 |
Common stock, shares Authorized | 100,000,000 | 100,000,000 |
Common stock, shares Issued | 18,842,726 | 18,687,987 |
Common stock, shares outstanding | 18,842,726 | 18,687,987 |
INTERIM CONDENSED CONSOLIDATED4
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Operating expenses: | ||||
Research and development, net | $ 1,168 | $ 790 | $ 2,544 | $ 1,927 |
General and administrative | 1,224 | 848 | 2,693 | 2,506 |
Operating loss | (2,392) | (1,638) | (5,237) | (4,433) |
Financial expense (income), net | 11 | (32) | (9) | (75) |
Net loss | $ (2,403) | $ (1,606) | $ (5,228) | $ (4,358) |
Basic and diluted net profit (loss) per share | $ (0.13) | $ (0.09) | $ (0.28) | $ (0.23) |
Weighted average number of shares outstanding used in computing basic and diluted net loss per share | 18,783,997 | 18,656,615 | 18,737,307 | 18,654,826 |
INTERIM CONDENSED STATEMENTS OF
INTERIM CONDENSED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | |
Balance at Dec. 31, 2015 | $ 14,128 | $ 11 | $ 84,258 | $ (70,141) | |
Balance (in shares) at Dec. 31, 2015 | 18,643,288 | ||||
Stock-based compensation related to warrants and stock granted to service providers | 121 | [1] | 121 | 0 | |
Stock-based compensation related to warrants and stock granted to service providers (in shares) | 36,033 | ||||
Stock-based compensation related to stock and options granted to directors and employees | 635 | $ 0 | 635 | 0 | |
Stock-based compensation related to stock and options granted to directors and employees (in shares) | 8,666 | ||||
Net loss | (4,982) | $ 0 | 0 | (4,982) | |
Balance at Dec. 31, 2016 | 9,902 | $ 11 | 85,014 | (75,123) | |
Balance (in shares) at Dec. 31, 2016 | 18,687,987 | ||||
Stock-based compensation related to warrants and stock granted to service providers | 18 | [1] | 18 | ||
Stock-based compensation related to warrants and stock granted to service providers (in shares) | 4,327 | ||||
Stock-based compensation related to stock and options granted to directors and employees | 398 | [1] | 398 | 0 | |
Stock-based compensation related to stock and options granted to directors and employees (in shares) | 105,301 | ||||
Exercise of options | 30 | [1] | 30 | ||
Exercise of options (in shares) | 11,777 | ||||
Exercise of warrants | 75 | [1] | 75 | ||
Exercise of warrants (in shares) | 33,334 | ||||
Net loss | (5,228) | $ 0 | 0 | (5,228) | |
Balance at Sep. 30, 2017 | $ 5,195 | $ 11 | $ 85,535 | $ (80,351) | |
Balance (in shares) at Sep. 30, 2017 | 18,842,726 | ||||
[1] | Represents an amount less than $1. |
INTERIM CONDENSED CONSOLIDATED6
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||||
Net loss | $ (2,403) | $ (1,606) | $ (5,228) | $ (4,358) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation | 23 | 17 | 57 | 55 |
Expenses related to shares and options granted to service providers | 18 | 90 | 18 | 121 |
Amortization of deferred stock-based compensation related to options granted to employees and directors | 215 | 171 | 398 | 636 |
Decrease (increase) in accounts receivable and prepaid expenses | 561 | 1,140 | 50 | 641 |
Increase (decrease) in trade payables | 48 | (3) | (70) | (817) |
Deferred grant income | 5,250 | 0 | 5,250 | 0 |
Increase (decrease) in other accounts payable and accrued expenses | 131 | (84) | 96 | (940) |
Total net cash provided by (used in) operating activities | 3,843 | (275) | 571 | (4,662) |
Cash flows from investing activities: | ||||
Purchase of property and equipment | (86) | (11) | (118) | (96) |
Changes in short-term deposit | (7,150) | 299 | 1,360 | 5,289 |
Investment in lease deposit | (2) | (2) | (1) | (4) |
Total net cash provided by (used in) investing activities | (7,238) | 286 | 1,241 | 5,189 |
Cash flows from financing activities: | ||||
Proceeds from exercise of options | 75 | 0 | 105 | 0 |
Total net cash provided by financing activities | 75 | 0 | 105 | 0 |
Increase (decrease) in cash and cash equivalents | (3,320) | 11 | 1,917 | 527 |
Cash and cash equivalents at the beginning of the period | 5,784 | 944 | 547 | 428 |
Cash and cash equivalents at end of the period | $ 2,464 | $ 955 | $ 2,464 | $ 955 |
GENERAL
GENERAL | 9 Months Ended |
Sep. 30, 2017 | |
General and Going Concern Disclosure [Abstract] | |
Business Description and Basis of Presentation [Text Block] | GENERAL A. Brainstorm Cell Therapeutics Inc. (formerly: Golden Hand Resources Inc. - the "Company") was incorporated in the State of Washington on September 22, 2000. The Company currently holds two wholly owned subsidiaries; Brainstorm Cell Therapeutics Ltd. ("BCT"), an Israeli Company which currently conducts all of the research and development activities of the Company, and Brainstorm Cell Therapeutics UK Ltd. (“Brainstorm UK”). Brainstorm UK acts on behalf of the parent Company in the EU. Brainstorm UK is currently inactive. The Common Stock is publicly traded on the NASDAQ Capital Market under the symbol “BCLI”. B. The Company, through BCT, holds rights to commercialize certain stem cell technology developed by Ramot of Tel Aviv University Ltd. ("Ramot") (see Note 3). Using this technology the Company has been developing novel adult stem cell therapies for debilitating neurodegenerative disorders such as Amytrophic Lateral Scelorosis (ALS, also known as Lou Gherig Disease), Multiple Sclerosis (MS) and Parkinson’s disease. The Company developed a proprietary process, called NurOwn, for the propagation of Mesenchymal Stem Cells and their differentiation into neurotrophic factor secreting cells. These cells are then transplanted at or near the site of damage, offering the hope of more effectively treating neurodegenerative diseases. The process is currently autologous, or self-transplanted. C. NurOwn is in clinical development for the treatment of ALS. The Company has completed two single dose clinical trials of NurOwn in Israel, a Phase 1/2 trial with 12 patients and a Phase 2a trial with additional 12 patients. In July 2016 the Company announced the results of its Phase 2 trial which was conducted in three major medical centers in the US. This single dose trial included 48 patients randomized in a 3:1 ratio to receive NuOwn or placebo. Future development of NurOwn for ALS will require additional clinical trials typically required to provide an adequate basis for regulatory approval and product labeling. These additional trials will include the administration of repeated doses to ALS patients enrolled in these trials. D. On September 15, 2014 the Company completed a reverse stock split of the Company’s shares of Common Stock by a ratio 1-for-15. The Company adjusted all ordinary shares, options, warrants, per share data and exercise prices included in these financial statements for all periods presented to reflect the reverse stock split. On August 26, 2015 the shareholders of the Company approved a reduction of the number of authorized shares of Common Stock of the Company from 800,000,000 100,000,000 GOING CONCERN: To date the Company has not generated revenues from its activities and has incurred substantial operating losses. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through utilization of its current financial resources and through additional raises of capital. Such conditions raise substantial doubts about the Company's ability to continue as a going concern. Management’s plan includes raising funds from outside potential investors. However, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to meet its objectives. These financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern. |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES A. Unaudited Interim Financial Statements The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of U.S. Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed). For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Operating results for the three months ended September 30, 2017, are not necessarily indicative of the results that may be expected for the year ended December 31, 2017. B. Significant Accounting Policies Non royalty bearing Grants from the California Institute for Regenerative Medicine (CIRM) for funding research and development projects are recognized at the time the Company is entitled to such grants, on the basis of the costs incurred and applied as a deduction from research and development expenses. The other significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements. Recent Accounting Standards In May 2014, the Financial Accounting Standards Board issued a new standard to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. generally accepted accounting principles. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard is effective for us beginning in the first quarter of 2018; early adoption is prohibited. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. As the Company has not incurred revenues to date, it is unable to determine to expected impact of the new standard on its consolidated financial statements. In January 2016, the FASB issued an amended standard requiring change to recognition and measurement of certain financial assets and liabilities. The standard primarily affects equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. This standard is effective beginning in the first quarter of 2018. Certain provisions allow for early adoption. The Company do not expect that the adoption of this standard will have a significant impact on the financial position or results of operations. In February 2016, the FASB issued a new lease accounting standard requiring that the Company recognize lease assets and liabilities on the balance sheet. This standard is effective beginning in the first quarter of 2019; early adoption is permitted. The Company has not yet determined the impact of the new standard on its consolidated financial statements. In June 2016, the FASB issued a new standard requiring measurement and recognition of expected credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. This standard is effective for us in the first quarter of 2020; early adoption is permitted beginning in the first quarter of 2019 and we are evaluating whether we will early adopt. It is required to be applied on a modified-retrospective approach with certain elements being adopted prospectively. The Company does not expect that the adoption of this standard will have a significant impact on the financial position or results of operations. In May 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting,” which clarifies when a change to terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the vesting condition, fair value or the award classification is not the same both before and after a change to the terms and conditions of the award. The new guidance is effective on a prospective basis beginning on January 1, 2018 and early adoption is permitted. The Company does not expect the adoption of this standard to have an impact on its consolidated financial statements. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
RESEARCH AND LICENSE AGREEMENT
RESEARCH AND LICENSE AGREEMENT | 9 Months Ended |
Sep. 30, 2017 | |
Research and License Agreement [Abstract] | |
Research and License Agreement [Text Block] | RESEARCH AND LICENSE AGREEMENT The Company has a Research and License Agreement, as amended and restated, with Ramot. The Company obtained a waiver and release from Ramot pursuant to which Ramot agreed to an amended payment schedule regarding the Company's payment obligations under the Research and License Agreement and waived all claims against the Company resulting from the Company's previous defaults and non-payment under the Research and License Agreement. The waiver and release amended and restated the original payment schedule under the original agreement providing for payments during the initial research period and additional payments for any extended research period. The Company is to pay Ramot royalties on Net Sales on a Licensed Product by Licensed Product and jurisdiction by jurisdiction basis as follows: a) So long as the making, producing, manufacturing, using, marketing, selling, importing or exporting of such Licensed Product is covered by a Valid Claim or is covered by Orphan Drug Status in such jurisdiction 5 b) In the event the making, producing, manufacturing, using, marketing, selling, importing or exporting of such Licensed Product is not covered by a Valid Claim and not covered by Orphan Drug status in such jurisdiction 3 15 |
SHORT TERM INVESTMENTS
SHORT TERM INVESTMENTS | 9 Months Ended |
Sep. 30, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Short Term Investments [Text Block] | SHORT TERM INVESTMENTS Short term investments on September 30, 2017 and December 31, 2016 include bank deposits bearing annual interest rates varying from 0.15 1.90 10 5 |
DEFERRED GRANT INCOME
DEFERRED GRANT INCOME | 9 Months Ended |
Sep. 30, 2017 | |
Deferred Grant Income [Abstract] | |
Deferred Grant Income [Text Block] | DEFERRED GRANT INCOME In July 2017 the Company received an award in the amount of $ 15,912 5,250 15,912 |
STOCK CAPITAL
STOCK CAPITAL | 9 Months Ended |
Sep. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 6 - STOCK CAPITAL A. The rights of Common Stock are as follows: Holders of Common Stock have the right to receive notice to participate and vote in general meetings of the Company, the right to a share in the excess of assets upon liquidation of the Company and the right to receive dividends, if declared. The Common Stock is publicly traded on the NASDAQ Capital Market under the symbol BCLI. B. Issuance of shares, warrants and options: 1. Private placements and public offering: In July 2007, the Company entered into an investment agreement, that was amended in August 2009 with ACCBT Corp. a company under the control of the Company’s current Chief Executive Officer, according to which for an aggregate consideration of approximately $5 million the Company issued 2,777,777 shares of Common Stock and a warrant to purchase 672,222 shares of Common Stock at an exercise price of $3 per share and a warrant to purchase 1,344,444 shares of common stock at an exercise price of $4.35 per share. The warrants are exercisable, through November 5, 2017. Our current Chief Executive Officer has served as the President of the Company since July 2007 and in addition has as Chief Executive Officer from August 2013 until June 2014. On September 28, 2015 he was reappointed and currently serves as Chief Executive Officer of the Company. On September 28, 2015 the Company granted to its Chief Executive Officer an option to purchase 369,619 shares of Common Stock at an exercise price of $2.45 per share. The option vested over 12 months until fully vested on August 28, 2016. On July 26, 2017, the Company granted to its Chief Executive Officer 31,185 shares of restricted common stock, which vests as to twenty-five percent (25%) of the award on each of the first, second, third and fourth anniversary of the date of grant, provided grantee remains continuously employed by the Company from the date of grant through each applicable vesting date, and is subject to accelerated vesting upon a Change of Control (as defined in an agreement with grantee) of the Company. In the event of grantee’s termination of employment, any portion of the grant that is not yet vested (after taking into account any accelerated vesting) shall automatically be immediately forfeited to the Company, without the payment of any consideration to grantee. On July 26, 2017, the Company granted to its Chief Executive Officer an option to purchase up to 41,580 shares of Common Stock at an exercise price per share of $4.81. The option is fully vested and exercisable as of the date of grant and shall remain exercisable until the 2nd anniversary of the date of grant, regardless of whether grantee remains employed by the Company. In February 2010, the Company issued to three investors an aggregate 399,999 shares of Common Stock and warrants to purchase an aggregate of 199,998 shares of Common Stock with an exercise price of $7.50 per share for aggregate proceeds of $1.5 million. On July 17, 2012, the Company raised a $5.7 million of gross proceeds through a public offering (“2012 Public Offering”) of its common stock and warrants to purchase common stock. The Company issued a total of 1,321,265 shares of common stock ($4.35 per share), and thirty month warrants to purchase 990,949 shares of Common Stock at an exercise price of $4.35 per share. After deducting closing costs and fees, the Company received net proceeds of approximately $4.9 million. The Company paid to the placement agent, a cash fee and a corporate finance fee equal to 7% of the gross proceeds of the offering. In addition, the Company issued to the placement agent a two year warrant to purchase up to 32,931 shares of Common Stock, with an exercise price equal to $5.22. On February 7, 2013, the Company issued 55,556 units to a private investor for total proceeds of $250. Each unit consisted of one share of Common Stock and a warrant to purchase one share of Common Stock at $7.5 per share exercisable for 32 months. On October 7, 2015 the warrants were cancelled. On August 16, 2013, the Company raised $4 million, gross, through a registered public offering (“2013 Public Offering”) of its Common Stock and the issuance of warrants to purchase Common Stock. The Company issued a total of 1,568,628 Common Stock, ($2.55 per share) and three year warrants to purchase 1,176,471 shares of Common Stock, at an exercise price of $3.75 per share (the “2013 Warrants”). The Warrants also included, subject to certain exceptions, full ratchet anti-dilution protection in the event of the issuance of any Common Stock, securities convertible into common stock, or certain other issuances at a price below the then-current exercise price of the Warrants, which would result in an adjustment to the exercise price of the Warrants. After deducting closing costs and fees, the Company received net proceeds of approximately $3.3 million. In accordance with the provisions of ASC 815 (formerly FAS 133) the proceeds related to the warrants at the amount of $829 were recorded to liabilities at the fair value of such warrants as of the date of issuance, and the proceeds related to common stocks of 2,496 were recorded to equity. On April 25, 2014, the Company entered into agreements with some of holders of the 2013 Warrants to exchange warrants to purchase an aggregate of 777,471 shares of Company common stock for an aggregate of 388,735 unregistered shares of Common Stock. On May 27, 2014 the Company entered into agreements with certain warrant holders to redeem “2013 warrants” to purchase 333,235 shares of Company common stock, in consideration for approximately $600 payable in cash ($1.80 per Warrant). In May 2014, certain holders of 2013 Warrants which did not participate in the redemption and whose 2013 Warrants will therefore remained outstanding waived the anti-dilution provisions of their 2013 Warrants. In July 2014, the Company agreed to adjust the exercise price of the remaining “2013 Warrants” to $0.525 per share. On January 6, 2015, the remaining “2013 Warrants” holders that did not provide a waiver of their anti-dilution rights, exercised their warrants. Therefore, the liability related to the 2013 Warrants has been cancelled. On June 13, 2014, the Company raised gross proceeds of $10.5 million through a private placement of the Company’s Common Stock and warrants purchase Common Stock. The Company issued 2.8 million shares of Common Stock at a price per share of $3.75 and three year warrants to purchase up to 2.8 million shares of Common Stock at an exercise price of $5.22 per share. Pursuant to a Warrant Exercise Agreement, dated January 8, 2015, holders of the Company’s warrants (issued in June 2014) to purchase an aggregate of 2,546,667 shares of the Company’s Common Stock at an exercise price of $5.22 per share, agreed to exercise their 2014 Warrants in full and the Company agreed to issue new warrants to the holders to purchase up to an aggregate of approximately 3.8 million unregistered shares of Common Stock at an exercise price of $6.50 per share. The $6.50 warrants expire in June 2018. Gross proceeds from the exercise of the warrants was approximately $13.3 million. In connection with the Exercise Agreement, the Company agreed to pay to the Placement Agency a cash fee equal to 6.0% of the Exercise Proceeds, as well as fees and expenses of the Placement Agency of $20. In addition, the Company issued the Placement Agency a warrant to purchase 38,000 shares of Common Stock upon substantially the same terms as the New Warrants. Net of fees and related expenses the proceeds from the warrant exercise amounted to approximately $12.4 million. Since its inception the Company has raised approximately $46.6M, net in cash in consideration for issuances of common stock and warrants in private placements and public offerings as well as proceeds from warrants exercises. 2. Share-based compensation to employees and to directors: On November 25, 2004, the Company's stockholders approved the 2004 Global Stock Option Plan and the Israeli Appendix thereto (which applies solely to participants who are residents of Israel) and on March 28, 2005, the Company's stockholders approved the 2005 U.S. Stock Option and Incentive Plan, and the reservation of 609,564 shares of Common Stock for issuance in the aggregate under these stock plans. In June 2008, June 2011 and in June 2012, the Company's stockholders approved increases in the number of shares of common stock available for issuance under these stock option plans by 333,333, 333,333 and 600,000 shares, respectively Each option granted under the plans is exercisable until the earlier of ten years from the date of grant of the option or the expiration dates of the respective option plans. The 2004 and 2005 options plans expired on November 25, 2014 and March 28, 2015, respectively. On August 14, 2014, the Company's stockholders approved the 2014 Global Share Option Plan and the Israeli Appendix thereto (which applies solely to participants who are residents of Israel) and the 2014 Stock Incentive Plan. A total 600,000 shares of Common Stock were reserved for issuance in the aggregate under these stock plans. On June 21, 2016 the Company’s stockholders approved an amendment to the Plans which increased the shared pool of shares of common stock available for issuance under the Plans by 1,600,000, from 600,000 to 2,200,000. The exercise price of the options granted under the plans may not be less than the nominal value of the shares into which such options are exercised. Any options that are canceled or forfeited before expiration become available for future grants. On December 16, 2010, the Company granted to two of its directors fully vested options to purchase an aggregate of 26,667 shares of Common Stock at an exercise price of $2.25 per share. On August 22, 2011, the Company entered into an agreement one of its directors pursuant to which the Company granted the director 61,558 restricted shares of Common Stock of the Company. The shares vested through August 22, 2014. In addition, the Company is paying the director $15 per quarter his services. On May 3, 2015 the Company granted to the director 60,000 shares of restricted Common Stock. The shares were vested in three installments through August 22, 2017. On August 1, 2012, the Company granted to three of its directors options to purchase an aggregate of 30,667 shares of Common Stock of the Company, at $2.25 per share. On April 19, 2013, the Company granted to three of its directors options to purchase an aggregate of 30,667 shares of Common Stock of the Company at $2.25 per share. In addition the Company issued to two of its directors and four of its Advisory Board members a total of 50,667 restricted shares of Common Stock. The Options and restricted shares vested over 12 months. On June 6, 2014, the Company granted its Chief Operating Officer a fully vested option to purchase 33,333 shares of the Company’s common stock. The exercise price of the grant was $2.70 per share. On June 9, 2014, the Company’s former Chief Executive Officer was granted a stock option for the purchase of 380,000 shares of the Company’s common stock, vesting over four years, with an exercise price of $4.5 per share. On November 10, 2015 the Company and the former CEO agreed that the unvested portion of the option as of October 30, 2015 (to purchase 253,333 shares) would be forfeited and that the vested potion of the option (to purchase 126,667 shares) would terminate on September 30, 2016. On August 15, 2014, the Company issued to two of its directors and four of its Advisory Board members an aggregate of 50,667 restricted shares of Common Stock. The shares vested over 12 months. On October 31, 2014, the Company granted to four of its directors options to purchase an aggregate of 70,666 shares of Common Stock of the Company, at $0.75 per share. The options vest over 12 months. On June 1, 2015, the Company granted to a director fully vested options to purchase an aggregate of 6,667 shares of Common Stock of the Company, at $0.75 per share. On July 30, 2015 the Company’s newly appointed Chief Financial Officer was granted an option to purchase 165,000 shares of Common Stock at an exercise price of $3.17 per share. The option would vest over 3 years. Effective December 1, 2015 the Company and the Chief Financial Officer agreed to amend the option agreement. Pursuant to the amendment, 82,500 shares were cancelled. The 82,500 remaining shares continued to vest and become exercisable in accordance with the terms of the grant: 20,625 shares vested and became exercisable on July 30, 2016 and 2.08333% of the 82,500 shares were scheduled to vest and become exercisable on each monthly anniversary date starting on August 30, 2016 through the fourth anniversary of the grant, so that the 82,500 shares would become fully vested and exercisable on July 30, 2019. On November 9, 2016, the Company’s Chief Financial Officer notified the Company that he was terminating his part time employment with the Company effective at the end of business on November 14, 2016. The option ceased to vest on November 14, 2016 and the right to exercise the option was terminated February 14, 2017. On August 27, 2015 the Company granted to four of its seven directors options to purchase an aggregate of 70,665 shares of Common Stock at an exercise price of $0.75 per share, and granted to two of its directors an aggregate of 17,332 restricted shares of Common Stock. The options and restricted shares of Common Stock vested over 12 months until fully vested on August 27, 2016. On September 28, 2015 the Company granted to its newly appointed Chief Executive Officer an option to purchase 369,619 shares of Common Stock at an exercise price of $2.45 per share. The option vested over 12 months until fully vested on August 28, 2016. On July 14, 2016 the Company granted to four of its seven directors options to purchase an aggregate of 70,665 shares of Common Stock at an exercise price of $0.75 per share, and on September 26, 2016 granted 8,666 restricted share of Common Stock to one director and on March 28, 2017 granted 8,666 restricted shares of Common Stock to another director. The options and restricted shares of Common Stock vested over 12 months until fully vested on June 22, 2017. On February 26, 2017 the Company granted a stock option to a director to purchase up to 6,667 shares of Common Stock at an exercise price of $0.75 per share. The option was fully vested and exercisable on the date of grant. On February 26, 2017 the Company granted a director 3,012 shares of restricted common stock. The grant vests in 12 consecutive, equal monthly installments commencing on the one month anniversary of the date of grant, until fully vested on the first anniversary of the date of grant, provided grantee remains a director of the Company on each such vesting date. On March 6, 2017, the Company granted to its newly appointed Chief Operating Officer 35,885 shares of restricted common stock, which vests as to twenty-five percent (25%) of the award on each of the first, second, third and fourth anniversary of the date of grant, provided grantee remains continuously employed by the Company from the date of grant through each applicable vesting date, and is subject to accelerated vesting upon a Change of Control (as defined in an agreement with grantee) of the Company. In the event of grantee’s termination of employment, any portion of the grant that is not yet vested (after taking into account any accelerated vesting) shall automatically be immediately forfeited to the Company, without the payment of any consideration to grantee. On March 6, 2017, the Company granted to its newly appointed Chief Operating Officer an option to purchase up to 47,847 shares of Common Stock at an exercise price per share of $4.18. The option is fully vested and exercisable as of the date of grant and shall remain exercisable until the 2nd anniversary of the date of grant, regardless of whether grantee remains employed by the Company. On July 13, 2017, the Company granted a stock option to a director to purchase up to 12,000 shares of Common Stock of the Company. The option is fully vested and exercisable on the date of grant. On July 13, 2017, the Company granted an aggregate of 16,629 shares of Common Stock of the Company to three officers of the Company. On July 26, 2017, the Company granted to its Chief Executive Officer 31,185 shares of restricted common stock, which vests as to twenty-five percent (25%) of the award on each of the first, second, third and fourth anniversary of the date of grant, provided grantee remains continuously employed by the Company from the date of grant through each applicable vesting date, and is subject to accelerated vesting upon a Change of Control (as defined in an agreement with grantee) of the Company. In the event of grantee’s termination of employment, any portion of the grant that is not yet vested (after taking into account any accelerated vesting) shall automatically be immediately forfeited to the Company, without the payment of any consideration to grantee. On July 26, 2017, the Company granted to its Chief Executive Officer an option to purchase up to 41,580 shares of Common Stock at an exercise price per share of $4.81. The option is fully vested and exercisable as of the date of grant and shall remain exercisable until the 2nd anniversary of the date of grant, regardless of whether grantee remains employed by the Company. On August 17, 2017, the Company granted to a newly appointed VP of Patient Advocacy and Government Affairs 9,924 shares of restricted common stock, which vests on each of the first, second, third and fourth anniversary of the date of grant, provided that grantee remains continuously employed by the Company from the date of grant through each applicable vesting date. The Company accounts for shares and warrant grants issued to non-employees using the guidance of ASC 505-50, "Equity-Based Payments to Non-Employees" (EITTF 96-18, "Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling, Goods or Services"), whereby the fair value of such option and warrant grants is determined using a Black-Scholes options pricing model at the earlier of the date at which the non-employee's performance is completed or a performance commitment is reached. A summary of the Company's option activity related to options to employees and directors, and related information is as follows: For the nine months ended Amount of Weighted Aggregate $ $ Outstanding at beginning of period 874,841 2.1258 Granted 108,094 3.8300 Exercised (11,777 ) 2.5401 Cancelled (44,446 ) 3.9175 Outstanding at end of period 926,712 2.2334 1,748,327 Vested and expected-to-vest at end of period 926,712 2.2334 1,748,327 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the fair market value of the Company’s shares on September 30, 2017 and the exercise price, multiplied by the number of in-the-money options on those dates) that would have been received by the option holders had all option holders exercised their options on those dates. Compensation expense recorded by the Company in respect of its stock-based employee compensation awards in accordance with ASC 718-10 for the nine months ended September 30, 2017 and 2016 amounted to $416 and $667, respectively. 3. Shares and warrants to investors and service providers: The Company accounts for shares and warrant grants issued to non-employees using the guidance of ASC 505-50, "Equity-Based Payments to Non-Employees" (EITTF 96-18, "Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling, Goods or Services"), whereby the fair value of such option and warrant grants is determined using a Black-Scholes options pricing model at the earlier of the date at which the non-employee's performance is completed or a performance commitment is reached. (a) Warrants to investors and service providers: The fair value for the warrants to service providers was estimated on the measurement date determined using a Black-Scholes option pricing model, with the following weighted-average assumptions for the year ended December 31, 2010; weighted average volatility of 140%, risk free interest rates of 2.39%-3.14%, dividend yields of 0% and a weighted average life of the options of 5-5.5 and 1-9 years. There were no grants to service providers since 2010. Issuance date Number of Exercised Forfeited Outstanding Exercise Warrants Exercisable Nov-Dec 2004 973,390 959,734 13,656 - 0.00075 - 0.15 - - Feb-Dec 2005 203,898 32,011 171,887 - 2.25 - 37.5 - - Feb-Dec 2006 112,424 48,513 63,911 - 0.075 22.5 - - Mar-Nov 2007 180,220 33,334 133,553 13,333 2.25 13,333 Oct 2017 Nov 2008 6,667 - - 6,667 2.25 6,667 Sep-18 Apr-Oct 2009 26,667 6,667 - 20,000 1.005 1.5 20,000 Apr 2019 Oct 2019 Aug 2007- Jan 2011 2,016,667 - - 2,016,667 3 - 4.35 2,016,667 Nov-17 Jan 2010 83,333 - 83,333 - 7.5 - - Feb 2010 8,333 8,333 - - 0.15 - - Feb 2010 200,000 - 200,000 - 7.5 - - Feb 2010 100,000 100,000 - - 0.015 - - Feb 2011 42,735 - 42,735 - 5.85 - - Feb 2011 427,167 63,122 364,044 - 4.2 - - Feb 2011 854,333 - 854,333 - 7.5 - - Jul 2012 32,931 - 32,931 - 5.22 - - Jul 2012 990,949 687,037 303,911 - 4.35 - - Feb 2013 55,556 - 55,556 - 7.5 - - April 2010-2014 12,889 8,889 4,000 - 0.00075 - - Aug 2013 1,147,471 - 1,147,471 - 3.75 - - Aug 2013 29,000 29,000 - - 0.525 - - Jun 2014 2,800,000 2,546,667 253,333 - 5.22 - - Jun 2014 84,000 - 84,000 - 4.5 - Jan 2015 3,858,201 - - 3,858,201 6.5 3,858,201 Jun-18 14,246,831 4,523,307 3,808,654 5,914,868 5,914,868 (b) Shares: On December 30, 2009, the Company issued to Ramot 74,667 shares of Common Stock (See Note 3). On December 31, 2011, the Company issued to Hadasit warrants to purchase up to 100,000 restricted shares of Common Stock at an exercise price of $0.015 per share, exercisable for a period of 5 years. The warrants vested over the course of the trials and were exercised in 2015. On January 16, 2013, the Company granted an aggregate of 14,400 shares of Common Stock of the Company to two consultants, for services rendered through December 31, 2012. Related compensation expense in the amount of $54 was recorded as research and development expense. On February 4, 2013, the Company issued 8,408 shares of Common Stock to an investor, according to a settlement agreement, for the correction of the conversion rate of a $200 convertible loan. The convertible loan was issued in 2006 and converted in 2010. On March 11, 2013, the Company granted to its legal advisor 12,913 shares of Common Stock for 2013 legal services. The related compensation expense in the amount of $44.5 was recorded as general and administrative expense. On November 13, 2013, the Company approved a grant of 30,000 shares of Common Stock to the Consultants, for services rendered during January 1, 2013 through September 30, 2013 (the “2013 Shares”). On March 24, 2014, the Company approved grants of an aggregate of 6,000 shares of Common Stock to the Consultants for services rendered in 2014, and issued such shares together with the 2013 Shares. On March 11, 2013, the Company granted to two of its service providers an aggregate of 26,667 shares of Common Stock. The shares were issued as compensation for public relations services. The related compensation expense in the amount of $92 was recorded as general and administrative expense. On July 28, 2014, the Company granted to its legal advisor 10,752 shares of Common Stock for 2014 legal services. The related compensation expense in the amount of $50 was recorded as general and administrative expense. On April 29, 2015, the Company approved grants of an aggregate of 27,411 shares of Common Stock to the Consultants for services rendered in 2014. The related compensation expense was recorded as research and development expense. On January 2, 2016, the Company granted to its legal advisor 10,752 shares of Common Stock for 2015 legal services. The related compensation expense of $31 was recorded as general and administrative expense. On July 14, 2016, the Company granted of an aggregate of 25,281 shares of Common Stock to two consultants for services rendered in 2015. The related compensation expense was recorded as research and development expense. On August 17, 2017, the Company granted to a consultant 4,327 fully vested shares of restricted common stock. The restriction expires in eight (8) equal consecutive quarterly installments (starting November 17, 2017) until fully vested on the second anniversary of the date of grant. 4. Stock Based Compensation Expense The total stock-based compensation expense, related to shares, options and warrants granted to employees, directors and service providers was comprised, at each period, as follows: Nine months ended Three months ended September 30, September 30, 2017 2016 2017 2016 Unaudited Unaudited Research and development 145 6 70 1 General and administrative 271 661 163 170 Total stock-based compensation expense 416 667 233 171 |
BASIS OF PRESENTATION AND SIG13
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Unaudited Interim Financial Statements [Policy Text Block] | A. Unaudited Interim Financial Statements The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of U.S. Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included (consisting only of normal recurring adjustments except as otherwise discussed). For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Operating results for the three months ended September 30, 2017, are not necessarily indicative of the results that may be expected for the year ended December 31, 2017. |
Basis of Accounting, Policy [Policy Text Block] | B. Significant Accounting Policies Non royalty bearing Grants from the California Institute for Regenerative Medicine (CIRM) for funding research and development projects are recognized at the time the Company is entitled to such grants, on the basis of the costs incurred and applied as a deduction from research and development expenses. The other significant accounting policies followed in the preparation of these unaudited interim condensed consolidated financial statements are identical to those applied in the preparation of the latest annual financial statements. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards In May 2014, the Financial Accounting Standards Board issued a new standard to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. generally accepted accounting principles. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard is effective for us beginning in the first quarter of 2018; early adoption is prohibited. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. As the Company has not incurred revenues to date, it is unable to determine to expected impact of the new standard on its consolidated financial statements. In January 2016, the FASB issued an amended standard requiring change to recognition and measurement of certain financial assets and liabilities. The standard primarily affects equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. This standard is effective beginning in the first quarter of 2018. Certain provisions allow for early adoption. The Company do not expect that the adoption of this standard will have a significant impact on the financial position or results of operations. In February 2016, the FASB issued a new lease accounting standard requiring that the Company recognize lease assets and liabilities on the balance sheet. This standard is effective beginning in the first quarter of 2019; early adoption is permitted. The Company has not yet determined the impact of the new standard on its consolidated financial statements. In June 2016, the FASB issued a new standard requiring measurement and recognition of expected credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. This standard is effective for us in the first quarter of 2020; early adoption is permitted beginning in the first quarter of 2019 and we are evaluating whether we will early adopt. It is required to be applied on a modified-retrospective approach with certain elements being adopted prospectively. The Company does not expect that the adoption of this standard will have a significant impact on the financial position or results of operations. In May 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting,” which clarifies when a change to terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the vesting condition, fair value or the award classification is not the same both before and after a change to the terms and conditions of the award. The new guidance is effective on a prospective basis beginning on January 1, 2018 and early adoption is permitted. The Company does not expect the adoption of this standard to have an impact on its consolidated financial statements. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
STOCK CAPITAL (Tables)
STOCK CAPITAL (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the Company's option activity related to options to employees and directors, and related information is as follows: For the nine months ended Amount of Weighted Aggregate $ $ Outstanding at beginning of period 874,841 2.1258 Granted 108,094 3.8300 Exercised (11,777 ) 2.5401 Cancelled (44,446 ) 3.9175 Outstanding at end of period 926,712 2.2334 1,748,327 Vested and expected-to-vest at end of period 926,712 2.2334 1,748,327 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Issuance date Number of Exercised Forfeited Outstanding Exercise Warrants Exercisable Nov-Dec 2004 973,390 959,734 13,656 - 0.00075 - 0.15 - - Feb-Dec 2005 203,898 32,011 171,887 - 2.25 - 37.5 - - Feb-Dec 2006 112,424 48,513 63,911 - 0.075 22.5 - - Mar-Nov 2007 180,220 33,334 133,553 13,333 2.25 13,333 Oct 2017 Nov 2008 6,667 - - 6,667 2.25 6,667 Sep-18 Apr-Oct 2009 26,667 6,667 - 20,000 1.005 1.5 20,000 Apr 2019 Oct 2019 Aug 2007- Jan 2011 2,016,667 - - 2,016,667 3 - 4.35 2,016,667 Nov-17 Jan 2010 83,333 - 83,333 - 7.5 - - Feb 2010 8,333 8,333 - - 0.15 - - Feb 2010 200,000 - 200,000 - 7.5 - - Feb 2010 100,000 100,000 - - 0.015 - - Feb 2011 42,735 - 42,735 - 5.85 - - Feb 2011 427,167 63,122 364,044 - 4.2 - - Feb 2011 854,333 - 854,333 - 7.5 - - Jul 2012 32,931 - 32,931 - 5.22 - - Jul 2012 990,949 687,037 303,911 - 4.35 - - Feb 2013 55,556 - 55,556 - 7.5 - - April 2010-2014 12,889 8,889 4,000 - 0.00075 - - Aug 2013 1,147,471 - 1,147,471 - 3.75 - - Aug 2013 29,000 29,000 - - 0.525 - - Jun 2014 2,800,000 2,546,667 253,333 - 5.22 - - Jun 2014 84,000 - 84,000 - 4.5 - Jan 2015 3,858,201 - - 3,858,201 6.5 3,858,201 Jun-18 14,246,831 4,523,307 3,808,654 5,914,868 5,914,868 |
Schedule Stock Awards Activity Related To Service Providers [Table Text Block] | The total stock-based compensation expense, related to shares, options and warrants granted to employees, directors and service providers was comprised, at each period, as follows: Nine months ended Three months ended September 30, September 30, 2017 2016 2017 2016 Unaudited Unaudited Research and development 145 6 70 1 General and administrative 271 661 163 170 Total stock-based compensation expense 416 667 233 171 |
GENERAL (Details Textual)
GENERAL (Details Textual) - shares | 9 Months Ended | |||
Sep. 30, 2017 | Dec. 31, 2016 | Aug. 26, 2015 | Dec. 31, 2014 | |
General And Going Concern [Line Items] | ||||
Stockholders Equity, Reverse Stock Split | 1-for-15 | |||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | 100,000,000 | 800,000,000 |
RESEARCH AND LICENSE AGREEMENT
RESEARCH AND LICENSE AGREEMENT (Details Textual) | 9 Months Ended |
Sep. 30, 2017 | |
Research And License Agreement [Line Items] | |
Percentage Of Royalty Payment If Licensed Product Covered By Valid Claim Or Orphan Drug Status | 5.00% |
Percentage Of Royalty Payment If Licensed Product Not Covered By Valid Claim Or Orphan Drug Status | 3.00% |
Validity Of Royalty Payment Not Covered By Valid Claim Or Orphan Drug Status | 15 years |
SHORT TERM INVESTMENTS (Details
SHORT TERM INVESTMENTS (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Cash and Cash Equivalents [Line Items] | ||
Maturity of Time Deposits | 10 months | 5 months |
Minimum [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Percentage of Interest Bearing Bank Deposits | 0.15% | |
Maximum [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Percentage of Interest Bearing Bank Deposits | 1.90% |
DEFERRED GRANT INCOME (Details
DEFERRED GRANT INCOME (Details Textual) - California Institute Of Regenerative Medicine [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Jul. 31, 2017 | |
Deferred Grant Income [Line Items] | ||
Proceeds from Grantors | $ 5,250 | |
Grants Receivable | $ 15,912 |
STOCK CAPITAL (Details)
STOCK CAPITAL (Details) - Employee Stock Option [Member] $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Amount of options, Outstanding at beginning of period | shares | 874,841 |
Amount of options, Granted | shares | 108,094 |
Amount of options, Exercised | shares | (11,777) |
Amount of options, Cancelled | shares | (44,446) |
Amount of options, Outstanding at end of period | shares | 926,712 |
Amount of options, Vested and expected-to-vest at end of period | shares | 926,712 |
Weighted average exercise price, Outstanding at beginning of period (in dollars per share) | $ / shares | $ 2.1258 |
Weighted average exercise price, Granted (in dollars per share) | $ / shares | 3.83 |
Weighted average exercise price, Exercised (in dollars per share) | $ / shares | 2.5401 |
Weighted Average exercise Price, Cancelled (in dollars per share) | $ / shares | 3.9175 |
Weighted average exercise price, Outstanding at end of period (in dollars per share) | $ / shares | 2.2334 |
Weighted average exercise price, Vested and expected-to-vest at end of period (in dollars per share) | $ / shares | $ 2.2334 |
Aggregate intrinsic value, Outstanding at end of period (in dollars) | $ | $ 1,748,327 |
Aggregate intrinsic value, Vested and expected-to-vest at end of period (in dollars) | $ | $ 1,748,327 |
STOCK CAPITAL (Details 1)
STOCK CAPITAL (Details 1) - Warrant [Member] | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 14,246,831 |
Exercised | 4,523,307 |
Forfeited | 3,808,654 |
Outstanding | 5,914,868 |
Warrants exercisable | 5,914,868 |
Issuance Date Nov - Dec 2004 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 973,390 |
Exercised | 959,734 |
Forfeited | 13,656 |
Outstanding | 0 |
Warrants exercisable | 0 |
Issuance Date Nov - Dec 2004 [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 0.00075 |
Issuance Date Nov - Dec 2004 [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 0.15 |
Issuance Date Feb - Dec 2005 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 203,898 |
Exercised | 32,011 |
Forfeited | 171,887 |
Outstanding | 0 |
Warrants exercisable | 0 |
Issuance Date Feb - Dec 2005 [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 2.25 |
Issuance Date Feb - Dec 2005 [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 37.5 |
Issuance Date Feb - Dec 2006 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 112,424 |
Exercised | 48,513 |
Forfeited | 63,911 |
Outstanding | 0 |
Warrants exercisable | 0 |
Issuance Date Feb - Dec 2006 [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 0.075 |
Issuance Date Mar - Nov 2007 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 180,220 |
Exercised | 33,334 |
Forfeited | 133,553 |
Outstanding | 13,333 |
Exercise Price (in dollars per share) | $ / shares | $ 2.25 |
Warrants exercisable | 13,333 |
Exercisable through | Oct 2,017 |
Issuance Date Nov 2008 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 6,667 |
Exercised | 0 |
Forfeited | 0 |
Outstanding | 6,667 |
Exercise Price (in dollars per share) | $ / shares | $ 2.25 |
Warrants exercisable | 6,667 |
Exercisable through | Sep18 |
Issuance Date Apr - Oct 2009 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 26,667 |
Exercised | 6,667 |
Forfeited | 0 |
Outstanding | 20,000 |
Warrants exercisable | 20,000 |
Exercisable through | Apr 2019– Oct 2019 |
Issuance Date Apr - Oct 2009 [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 1.005 |
Issuance Date Apr - Oct 2009 [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 1.5 |
Issuance Date Aug 2007 - Jan 2011 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 2,016,667 |
Exercised | 0 |
Forfeited | 0 |
Outstanding | 2,016,667 |
Warrants exercisable | 2,016,667 |
Exercisable through | Nov17 |
Issuance Date Aug 2007 - Jan 2011 [Member] | Minimum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 3 |
Issuance Date Aug 2007 - Jan 2011 [Member] | Maximum [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price (in dollars per share) | $ / shares | $ 4.35 |
Issuance Date Jan 2010 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 83,333 |
Exercised | 0 |
Forfeited | 83,333 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 7.5 |
Warrants exercisable | 0 |
Issuance Date Feb 2010 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 8,333 |
Exercised | 8,333 |
Forfeited | 0 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 0.15 |
Warrants exercisable | 0 |
Issuance Date Feb 2010 One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 200,000 |
Exercised | 0 |
Forfeited | 200,000 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 7.5 |
Warrants exercisable | 0 |
Issuance Date Feb 2010 Two [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 100,000 |
Exercised | 100,000 |
Forfeited | 0 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 0.015 |
Warrants exercisable | 0 |
Issuance Date Feb 2011 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 42,735 |
Exercised | 0 |
Forfeited | 42,735 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 5.85 |
Warrants exercisable | 0 |
Issuance Date Feb 2011 One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 427,167 |
Exercised | 63,122 |
Forfeited | 364,044 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 4.2 |
Warrants exercisable | 0 |
Issuance Date Feb 2011 Two [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 854,333 |
Exercised | 0 |
Forfeited | 854,333 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 7.5 |
Warrants exercisable | 0 |
Issuance Date July 2012 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 32,931 |
Exercised | 0 |
Forfeited | 32,931 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 5.22 |
Warrants exercisable | 0 |
Issuance Date July 2012 One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 990,949 |
Exercised | 687,037 |
Forfeited | 303,911 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 4.35 |
Warrants exercisable | 0 |
Issuance Date Feb 2013 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 55,556 |
Exercised | 0 |
Forfeited | 55,556 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 7.5 |
Warrants exercisable | 0 |
Issuance Date Apr 2010-2014 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 12,889 |
Exercised | 8,889 |
Forfeited | 4,000 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 0.00075 |
Warrants exercisable | 0 |
Issuance Date Aug 2013 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 1,147,471 |
Exercised | 0 |
Forfeited | 1,147,471 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 3.75 |
Warrants exercisable | 0 |
Issuance Date Aug 2013 One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 29,000 |
Exercised | 29,000 |
Forfeited | 0 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 0.525 |
Warrants exercisable | 0 |
Issuance Date June 2014 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 2,800,000 |
Exercised | 2,546,667 |
Forfeited | 253,333 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 5.22 |
Warrants exercisable | 0 |
Issuance Date June 2014 One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 84,000 |
Exercised | 0 |
Forfeited | 84,000 |
Outstanding | 0 |
Exercise Price (in dollars per share) | $ / shares | $ 4.5 |
Warrants exercisable | 0 |
Issuance Date Jan 2015 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of warrants issued | 3,858,201 |
Exercised | 0 |
Forfeited | 0 |
Outstanding | 3,858,201 |
Exercise Price (in dollars per share) | $ / shares | $ 6.5 |
Warrants exercisable | 3,858,201 |
Exercisable through | Jun18 |
STOCK CAPITAL (Details 2)
STOCK CAPITAL (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 233 | $ 171 | $ 416 | $ 667 |
Research and development [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 70 | 1 | 145 | 6 |
General and administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 163 | $ 170 | $ 271 | $ 661 |
STOCK CAPITAL (Details Textual)
STOCK CAPITAL (Details Textual) - USD ($) | Jul. 13, 2017 | Mar. 06, 2017 | Jul. 14, 2016 | Jan. 02, 2016 | Nov. 10, 2015 | Jun. 01, 2015 | May 03, 2015 | Jan. 08, 2015 | Aug. 14, 2014 | Jun. 13, 2014 | Jun. 09, 2014 | Jun. 06, 2014 | Nov. 13, 2013 | Mar. 11, 2013 | Feb. 07, 2013 | Feb. 04, 2013 | Aug. 01, 2012 | Aug. 17, 2017 | Jul. 26, 2017 | Mar. 28, 2017 | Feb. 26, 2017 | Sep. 26, 2016 | Aug. 28, 2016 | Jun. 21, 2016 | Sep. 28, 2015 | Aug. 27, 2015 | Jul. 30, 2015 | Apr. 29, 2015 | Oct. 31, 2014 | Aug. 15, 2014 | Jul. 31, 2014 | Jul. 28, 2014 | May 27, 2014 | Apr. 25, 2014 | Mar. 24, 2014 | Aug. 16, 2013 | Apr. 19, 2013 | Jan. 16, 2013 | Jul. 17, 2012 | Jun. 30, 2012 | Aug. 22, 2011 | Jun. 30, 2011 | Dec. 16, 2010 | Feb. 28, 2010 | Dec. 30, 2009 | Jun. 30, 2008 | Jul. 31, 2007 | Nov. 25, 2004 | Feb. 28, 2010 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | $ 4,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 74,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation, Total | $ 233,000 | $ 171,000 | $ 416,000 | $ 667,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 46,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal Advisor [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | $ 31,000 | $ 44,500 | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 10,752 | 12,913 | 10,752 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Scientific Advisory Board [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 14,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 30,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In Research Development Expenses | $ 54,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Provider [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | $ 92,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 26,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Placement Agent [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 5.22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Placement Agent For Purchase Of Common Stock | 32,931 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage Of Cash Fee On Gross Proceeds Of Offering | 7.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 61,558 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Scientific Advisory Board [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 50,667 | 50,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Stock [Member] | Consultants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 4,327 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | The restriction expires in eight (8) equal consecutive quarterly installments (starting November 17, 2017) until fully vested on the second anniversary of the date of grant. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Director [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Options, Exercise Price | $ 2.25 | $ 0.75 | $ 2.25 | $ 2.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | 12 months | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 12,000 | 70,665 | 30,667 | 6,667 | 70,665 | 70,666 | 30,667 | 26,667 | |||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $ 0.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.75 | $ 0.75 | $ 15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 12,000 | 70,665 | 30,667 | 6,667 | 70,665 | 70,666 | 30,667 | 26,667 | |||||||||||||||||||||||||||||||||||||||||||||||
Director [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 60,000 | 3,012 | 17,332 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Director One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 8,666 | 8,666 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Options, Exercise Price | $ 0.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 6,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 6,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hadasit [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 0.015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Operating Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 47,847 | 33,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $ 4.18 | $ 2.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award Unvested Portion to Purchase | 253,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award vested Portion Share | 126,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 47,847 | 33,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Operating Officer [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 35,885 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 35,885 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | 12 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 380,000 | 369,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $ 4.5 | $ 4.81 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 2.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | 20,625 shares vested and became exercisable on July 30, 2016 and 2.08333% of the 82,500 shares were scheduled to vest and become exercisable on each monthly anniversary date starting on August 30, 2016 through the fourth anniversary of the grant, so that the 82,500 shares would become fully vested and exercisable on July 30, 2019. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 380,000 | 369,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 31,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Financial Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 165,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 3.17 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 165,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 16,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 16,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vice President [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Global Share Option Plan 2004 and U S Stock Option and Incentive Plan 2005 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase In Number Of Shares Available For Issuance | 600,000 | 333,333 | 333,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Reserved For Issuance Under Stock Option Plan | 609,564 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Global Share Option Plan 2014 and U S Stock Option and Incentive Plan 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase In Number Of Shares Available For Issuance | 600,000 | 1,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,200,000 | 600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Settlement Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 8,408 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holders of Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 333,235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Repurchased During Period, Value | $ 600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Repurchase Price | $ 1.80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maxim Group LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 38,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,496 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Warrants | $ 829,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 14,246,831 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Weighted Average Volatility Rate | 140.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 14,246,831 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Consultants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 25,281 | 27,411 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 3.14% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Term | 5 years 6 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Warrant Issued One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Term | 9 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 2.39% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Term | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Warrant Issued One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Term | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 55,556 | 399,999 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | $ 250,000 | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 199,998 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 7.5 | $ 7.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 32 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Investment Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,777,777 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $ 4.81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 41,580 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 41,580 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Chief Executive Officer [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 31,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Warrant Issued One [Member] | Investment Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 672,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Warrant Issued Two [Member] | Investment Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 1,344,444 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 4.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Unregistered Shares of Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Common Stock, Net | $ 12,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Offering [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 777,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Offering [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,568,628 | 1,321,265 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | $ 3,300,000 | $ 5,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Purchase Price | $ 2.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 1,176,471 | 990,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 3.75 | $ 4.35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 4.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Offering [Member] | Unregistered Shares of Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 388,735 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Offering [Member] | 2013 Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 0.525 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | $ 10,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 2,546,667 | 2,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 5.22 | $ 5.22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 3.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Warrant Exercises | $ 13,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Agreement, Fees and Expenses, Amount | $ 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors Private Placement [Member] | Maxim Group LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise Agreement, Maxim Cash Fee, Percentage | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investors Private Placement [Member] | Unregistered Shares of Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 3,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $ 6.50 |