Protalix BioTherapeutics (PLX) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	Protalix BioTherapeutics, Inc.
Entity Central Index Key	1,006,281
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	PLX
Entity Common Stock, Shares Outstanding		126,499,455

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 48,017	$ 63,281
Accounts receivable - Trade	2,737	693
Other assets	3,484	2,321
Inventories	7,100	5,245
Assets of discontinued operation	205	327
Total current assets	61,543	71,867
FUNDS IN RESPECT OF EMPLOYEE RIGHTS UPON RETIREMENT	1,837	1,677
PROPERTY AND EQUIPMENT, NET	8,472	8,703
Total assets	71,852	82,247
Accounts payable and accruals:
Trade	5,999	4,007
Other	12,365	7,496
Convertible notes	0	53,872
Deferred revenues	1,925	837
Total current liabilities	20,289	66,212
LONG TERM LIABILITIES:
Convertible notes	113,204	19,343
Liability for employee rights upon retirement	2,528	2,348
Promissory note	4,301	4,301
Total long term liabilities	120,033	25,992
Total liabilities	140,322	92,204
COMMITMENTS
CAPITAL DEFICIENCY
Total shareholders’ equity (capital deficiency)	(68,470)	(9,957)
Total liabilities net of capital deficiency	$ 71,852	$ 82,247

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
REVENUES		$ 2,889	$ 679
COST OF REVENUES		(2,088)	(523)
GROSS PROFIT		801	156
RESEARCH AND DEVELOPMENT EXPENSES	[1]	(5,967)	(7,334)
Less - grants		1,338	1,309
RESEARCH AND DEVELOPMENT EXPENSES, NET		(4,629)	(6,025)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	[1]	(2,537)	(1,995)
OPERATING LOSS		(6,365)	(7,864)
FINANCIAL EXPENSES		(2,087)	(904)
FINANCIAL INCOME		1,625	242
LOSS FROM CHANGE IN FAIR VALUE OF CONVERTIBLE NOTES EMBEDDED DERIVATIVE		(52,321)
FINANCIAL EXPENSES, NET		(52,783)	(662)
LOSS FROM CONTINUING OPERATIONS		(59,148)	(8,526)
LOSS FROM DISCONTINUED OPERATIONS		0	(72)
NET LOSS FOR THE PERIOD		$ (59,148)	$ (8,598)
NET LOSS PER SHARE OF COMMON STOCK - BASIC AND DILUTED
Loss from continuing operations (in dollars per share)		$ (0.48)	$ (0.09)
Income from discontinued operations (in dollars per share)		0	0
Net loss per share of common stock (in dollars per share)		$ (0.48)	$ (0.09)
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING LOSS PER SHARE-BASIC AND DILUTED		124,467,602	99,715,625
[1]	Includes share-based compensation

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Research and Development Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 65	$ 238
General and Administrative Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 53	$ 137

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (CAPITAL DEFICIENCY) - USD ($) $ in Thousands		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2015		$ 10,873	$ 100	$ 194,064	$ (183,291)
Balance (in shares) at Dec. 31, 2015	[1]		99,800,397
Share-based compensation related to stock options		327		327
Share-based compensation related to restricted stock award		48		48
Share-based compensation related to restricted stock award (in shares)	[1]		7,843
Net loss from continuing operations		(8,526)			(8,526)
Net loss from discontinued operations		(72)			(72)
Balance at Mar. 31, 2016		2,650	$ 100	194,439	(191,889)
Balance (in shares) at Mar. 31, 2016	[1]		99,808,240
Balance at Dec. 31, 2016		(9,957)	$ 124	202,575	(212,656)
Balance (in shares) at Dec. 31, 2016	[1]		124,134,085
Share-based compensation related to stock options		118		118
Share-based compensation related to restricted stock award
Convertible notes conversions (in shares)	[1]		923,018
Convertible notes conversions		517	$ 1	516
Net loss from continuing operations		(59,148)			(59,148)
Net loss from discontinued operations		0
Balance at Mar. 31, 2017		$ (68,470)	$ 125	$ 203,209	$ (271,804)
Balance (in shares) at Mar. 31, 2017	[1]		125,057,103
[1]	Common Stock, $0.001 par value; Authorized – as of March 31, 2017 and 2016 - 250,000,000 and 150,000,000 shares, respectively.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (CAPITAL DEFICIENCY) [Parenthetical] - $ / shares	Mar. 31, 2017	Mar. 31, 2016
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	150,000,000

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (59,148)	$ (8,598)
Loss from discontinued operations	0	(72)
Loss from continuing operations	(59,148)	(8,526)
Adjustments required to reconcile net loss to net cash used in operating activities:
Share based compensation	118	375
Depreciation	492	516
Financial expenses, net	(9)	(130)
Changes in accrued liability for employee rights upon retirement	42	43
Gain on amounts funded in respect of employee rights upon retirement	(20)	(1)
Gain on conversion of convertible notes	(1,445)
Change in fair value of convertible notes embedded derivative	52,321
Amortization of debt issuance costs and debt discount	590	110
Changes in operating assets and liabilities:
Increase in deferred revenues	1,088	0
Increase in accounts receivable and other assets	(3,092)	(1,215)
Decrease (increase) in inventories	(1,855)	30
Increase (decrease) in accounts payable and accruals	2,370	(470)
Net cash used in continuing operations	(8,548)	(9,268)
Net cash provided by (used in) discontinued operations	122	(357)
Net cash used in operating activities	(8,426)	(9,625)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(220)	(251)
Increase in restricted deposit	(23)	0
Amounts funded in respect of employee rights upon retirement, net	(40)	(42)
Net cash used in investing activities	(283)	(293)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net payment for conversion of convertible notes	(6,726)
Net cash used in financing activities	(6,726)	0
EFFECT OF EXCHANGE RATE CHANGES ON CASH	171	213
NET DECREASE IN CASH AND CASH EQUIVALENTS	(15,264)	(9,705)
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	63,281	76,374
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF PERIOD	48,017	66,669
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Purchase of property and equipment	636	320
Convertible notes conversions	517
SUPPLEMENTARY DISCLOSURE ON CASH FLOWS
Interest paid	$ 432	$ 1,553

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES a. General Protalix BioTherapeutics, Inc. (collectively with its subsidiaries, the “Company”), and its wholly-owned subsidiaries, Protalix Ltd. and Protalix B.V. (the “Subsidiaries”), are biopharmaceutical companies focused on the development and commercialization of recombinant therapeutic proteins based on the Company’s proprietary ProCellEx ® TM TM The Company’s product pipeline currently includes, among other candidates: (1) PRX-102, or alpha-GAL-A, a therapeutic protein candidate for the treatment of Fabry disease, a rare, genetic lysosomal disorder; (2) PRX-110, a proprietary plant cell recombinant human Deoxyribonuclease 1, or DNase, under development for the treatment of cystic fibrosis, to be administered by inhalation; and (3) OPRX-106, the Company’s oral antiTNF product candidate which is being developed as an orally-delivered anti inflammatory treatment using plant cells as a natural capsule for the expressed protein. Obtaining marketing approval with respect to any product candidate in any country is directly dependent on the Company’s ability to implement the necessary regulatory steps required to obtain such approvals. The Company cannot reasonably predict the outcome of these activities. Since its approval by the FDA, taliglucerase alfa has been marketed mainly in the United States by Pfizer Inc. (“Pfizer”), as provided in the exclusive license and supply agreement by and between Protalix Ltd. and Pfizer, which is referred to herein as the Pfizer Agreement. In October 2015, the Company entered into an Amended and Restated Exclusive License and Supply Agreement (the “Amended Pfizer Agreement”) which amends and restates the Pfizer Agreement in its entirety. Pursuant to the Amended Pfizer Agreement, the Company sold to Pfizer its share in the collaboration created under the Pfizer Agreement for the commercialization of Elelyso in exchange for a cash payment equal to $ 36.0 60 40 100 On June 18, 2013, the Company entered into a Supply and Technology Transfer Agreement (the “Brazil Agreement”) with Fundação Oswaldo Cruz (“Fiocruz”), an arm of the Brazilian Ministry of Health for taliglucerase alfa. Fiocruz’s purchases of Uplyso to date have been significantly below certain agreed upon purchase milestones and, accordingly, the Company has the right to terminate the Brazil Agreement. Notwithstanding the low purchase amounts, the Company is, at this time, continuing to supply Uplyso to Fiocruz under the Brazil Agreement, and patients continue to be treated with Uplyso in Brazil. Approximately 10 In December 2016, the Company received a letter from Fiocruz regarding an order from the Brazilian Ministry of Health (the “Brazilian Ministry”) to purchase alfataliglicerase to treat Gaucher patients in Brazil. The Brazilian Ministry’s order consists of a number of shipments during 2017 for a total of approximately $ 24.3 Based on its current cash resources and commitments, the Company believes it will be able to maintain its current planned development activities and the corresponding level of expenditures for at least 12 months, although no assurance can be given that it will not need additional funds prior to such time. If there are unexpected increases in general and administrative expenses or research and development expenses, the Company may need to seek additional financing. b. Basis of presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments (of a normal recurring nature) considered necessary for a fair statement of the results for the interim periods presented have been included. Operating results for the interim period are not necessarily indicative of the results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2016, filed by the Company with the U.S. Securities and Exchange Commission. The comparative balance sheet at December 31, 2016 has been derived from the audited financial statements at that date. c. Net loss per share Basic and diluted loss per share (“LPS”) are computed by dividing net loss by the weighted average number of shares of the Company’s Common Stock, par value $ 0.001 Diluted LPS is calculated in continuing operations. The calculation of diluted LPS does not include 19,648,577 78,142,133

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2017
INVENTORIES [Abstract]
INVENTORIES	NOTE 2 - INVENTORIES Inventory at March 31, 2017 and December 31, 2016 consisted of the following: March 31, December 31, 2017 2016 (U.S. dollars in thousands) Raw materials $ 3,381 $ 2,591 Work in progress 485 395 Finished goods 3,234 2,259 Total inventory $ 7,100 $ 5,245

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	Mar. 31, 2017
FAIR VALUE MEASUREMENT [Abstract]
FAIR VALUE MEASUREMENT	NOTE 3 – FAIR VALUE MEASUREMENT The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received from the sale of an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. The fair value of the financial instruments included in the working capital of the Company is usually identical or close to their carrying value. The fair value of the convertible notes embedded derivative is based on Level 3 measurement, see also note 5. The fair value of the remaining $ 14.9 55 11 111

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 4 – DISCONTINUED OPERATIONS The Company accounted for the termination of the Pfizer Agreement and the sale of the license as a discontinued operation, in accordance with ASU No. 2014-08. The following assets and liabilities associated with the Company’s discontinued operations have been segregated and classified as assets and liabilities of discontinued operations, as appropriate, in the consolidated balance sheets as of December 31, 2016 and March 31, 2017, respectively: March 31, 2017 December 31, 2016 (U.S. dollars in thousands) CURRENT ASSETS: Accounts receivable - Trade $ 205 $ 327 Total current assets of discontinued operation $ 205 $ 327 The following summarizes financial information related to the Company’s discontinued operations in the Company’s consolidated statements of operations for the fiscal quarters ended March 31, 2016 and March 31, 2017: Three Months ended March 31, 2017 2016 (U.S. dollars in thousands) REVENUES $ 209 COST OF REVENUES (206) GROSS PROFIT 3 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (75) NET (LOSS) FOR THE PERIOD FROM DISCONTINUED OPERATIONS $ (72)

CONVERTIBLE NOTES

CONVERTIBLE NOTES	3 Months Ended
	Mar. 31, 2017
CONVERTIBLE NOTES [Abstract]
CONVERTIBLE NOTES	NOTE 5 – CONVERTIBLE NOTES All of the Company’s outstanding convertible notes are accounted for using the guidance set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (ASC) 815 requiring that the Company determine whether the embedded conversion option must be separated and accounted for separately. ASC 470-20 regarding debt with conversion and other options requires the issuer of a convertible debt instrument that may be settled in cash upon conversion to separately account for the liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer’s nonconvertible debt borrowing rate. The Company accounts for the 4.5 52.3 The debt discount and debt issuance costs regarding the issuance of the Company’s outstanding 4.5% convertible notes are deferred and amortized over the applicable convertible period ( 5 Issuance costs regarding the issuance of the Company’s 7.5 During the three months ended on March 31, 2017, total conversion notices of $ 7.7 4.4 525,800 6.1

SIGNIFICANT ACCOUNTING POLICI13

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
General	a. General Protalix BioTherapeutics, Inc. (collectively with its subsidiaries, the “Company”), and its wholly-owned subsidiaries, Protalix Ltd. and Protalix B.V. (the “Subsidiaries”), are biopharmaceutical companies focused on the development and commercialization of recombinant therapeutic proteins based on the Company’s proprietary ProCellEx ® TM TM The Company’s product pipeline currently includes, among other candidates: (1) PRX-102, or alpha-GAL-A, a therapeutic protein candidate for the treatment of Fabry disease, a rare, genetic lysosomal disorder; (2) PRX-110, a proprietary plant cell recombinant human Deoxyribonuclease 1, or DNase, under development for the treatment of cystic fibrosis, to be administered by inhalation; and (3) OPRX-106, the Company’s oral antiTNF product candidate which is being developed as an orally-delivered anti inflammatory treatment using plant cells as a natural capsule for the expressed protein. Obtaining marketing approval with respect to any product candidate in any country is directly dependent on the Company’s ability to implement the necessary regulatory steps required to obtain such approvals. The Company cannot reasonably predict the outcome of these activities. Since its approval by the FDA, taliglucerase alfa has been marketed mainly in the United States by Pfizer Inc. (“Pfizer”), as provided in the exclusive license and supply agreement by and between Protalix Ltd. and Pfizer, which is referred to herein as the Pfizer Agreement. In October 2015, the Company entered into an Amended and Restated Exclusive License and Supply Agreement (the “Amended Pfizer Agreement”) which amends and restates the Pfizer Agreement in its entirety. Pursuant to the Amended Pfizer Agreement, the Company sold to Pfizer its share in the collaboration created under the Pfizer Agreement for the commercialization of Elelyso in exchange for a cash payment equal to $ 36.0 60 40 100 On June 18, 2013, the Company entered into a Supply and Technology Transfer Agreement (the “Brazil Agreement”) with Fundação Oswaldo Cruz (“Fiocruz”), an arm of the Brazilian Ministry of Health for taliglucerase alfa. Fiocruz’s purchases of Uplyso to date have been significantly below certain agreed upon purchase milestones and, accordingly, the Company has the right to terminate the Brazil Agreement. Notwithstanding the low purchase amounts, the Company is, at this time, continuing to supply Uplyso to Fiocruz under the Brazil Agreement, and patients continue to be treated with Uplyso in Brazil. Approximately 10 In December 2016, the Company received a letter from Fiocruz regarding an order from the Brazilian Ministry of Health (the “Brazilian Ministry”) to purchase alfataliglicerase to treat Gaucher patients in Brazil. The Brazilian Ministry’s order consists of a number of shipments during 2017 for a total of approximately $ 24.3 Based on its current cash resources and commitments, the Company believes it will be able to maintain its current planned development activities and the corresponding level of expenditures for at least 12 months, although no assurance can be given that it will not need additional funds prior to such time. If there are unexpected increases in general and administrative expenses or research and development expenses, the Company may need to seek additional financing.
Basis of presentation	b. Basis of presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments (of a normal recurring nature) considered necessary for a fair statement of the results for the interim periods presented have been included. Operating results for the interim period are not necessarily indicative of the results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2016, filed by the Company with the U.S. Securities and Exchange Commission. The comparative balance sheet at December 31, 2016 has been derived from the audited financial statements at that date.
Net earnings (loss) per share	c. Net loss per share Basic and diluted loss per share (“LPS”) are computed by dividing net loss by the weighted average number of shares of the Company’s Common Stock, par value $ 0.001 Diluted LPS is calculated in continuing operations. The calculation of diluted LPS does not include 19,648,577 78,142,133

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2017
INVENTORIES [Abstract]
Schedule of Inventory	Inventory at March 31, 2017 and December 31, 2016 consisted of the following: March 31, December 31, 2017 2016 (U.S. dollars in thousands) Raw materials $ 3,381 $ 2,591 Work in progress 485 395 Finished goods 3,234 2,259 Total inventory $ 7,100 $ 5,245

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The Company accounted for the termination of the Pfizer Agreement and the sale of the license as a discontinued operation, in accordance with ASU No. 2014-08. The following assets and liabilities associated with the Company’s discontinued operations have been segregated and classified as assets and liabilities of discontinued operations, as appropriate, in the consolidated balance sheets as of December 31, 2016 and March 31, 2017, respectively: March 31, 2017 December 31, 2016 (U.S. dollars in thousands) CURRENT ASSETS: Accounts receivable - Trade $ 205 $ 327 Total current assets of discontinued operation $ 205 $ 327 The following summarizes financial information related to the Company’s discontinued operations in the Company’s consolidated statements of operations for the fiscal quarters ended March 31, 2016 and March 31, 2017: Three Months ended March 31, 2017 2016 (U.S. dollars in thousands) REVENUES $ 209 COST OF REVENUES (206) GROSS PROFIT 3 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (75) NET (LOSS) FOR THE PERIOD FROM DISCONTINUED OPERATIONS $ (72)

SIGNIFICANT ACCOUNTING POLICI16

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Oct. 31, 2015	Mar. 31, 2017	Mar. 31, 2016
Significant Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		78,142,133	19,648,577
Brazil [Member]
Significant Accounting Policies [Line Items]
Percentage of Adult Gaucher Patients Treated with Uplyso		10.00%
Brazil Agreement [Member]
Significant Accounting Policies [Line Items]
Supply Commitment In Year 2017		$ 24.3
Pfizer Agreement [Member]
Significant Accounting Policies [Line Items]
Proceeds From Exchange For Rights To Royalties	$ 36
Pfizer Agreement [Member] | Pfizer Incorporation [Member]
Significant Accounting Policies [Line Items]
Collaborative Arrangement Revenues and Expenses Sharing Percentage	60.00%
Pfizer Agreement [Member] | Protalix Bio Therapeutics Incorporation [Member]
Significant Accounting Policies [Line Items]
Collaborative Arrangement Revenues and Expenses Sharing Percentage	40.00%
Amended Pfizer Agreement [Member] | Protalix Bio Therapeutics Incorporation [Member] | Brazil [Member]
Significant Accounting Policies [Line Items]
Collaborative Arrangement Revenues and Expenses Sharing Percentage	100.00%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Raw materials	$ 3,381	$ 2,591
Work in progress	485	395
Finished goods	3,234	2,259
Total inventory	$ 7,100	$ 5,245

FAIR VALUE MEASUREMENT (Narrati

FAIR VALUE MEASUREMENT (Narrative) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Millions	Mar. 31, 2017USD ($)
2013 [Member]
Convertible Debt, Fair Value Disclosures	$ 14.9
2013 [Member] | Convertible Notes [Member]
Convertible Debt, Fair Value Disclosures	11
2016 [Member]
Convertible Debt, Fair Value Disclosures	55
2016 [Member] | Convertible Notes [Member]
Convertible Debt, Fair Value Disclosures	$ 111

DISCONTINUED OPERATIONS (Balanc

DISCONTINUED OPERATIONS (Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Accounts receivable - Trade	$ 205	$ 327
Total current assets of discontinued operation	$ 205	$ 327

DISCONTINUED OPERATIONS (Operat

DISCONTINUED OPERATIONS (Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUES		$ 209
COST OF REVENUES		(206)
GROSS PROFIT		3
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		(75)
NET (LOSS) FOR THE PERIOD FROM DISCONTINUED OPERATIONS		$ (72)

CONVERTIBLE NOTES (Narrative) (

CONVERTIBLE NOTES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Debt Conversion, Converted Instrument, Amount	$ 517
Repayments of Convertible Debt	6,726
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net	(52,321)
Seven Point Five Percentage Convertible Notes [Member]
Debt Conversion, Converted Instrument, Amount	$ 4,400
Debt Conversion, Converted Instrument, Shares Issued	525,800
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Debt Instrument, Face Amount	$ 7,700
Repayments of Convertible Debt	$ 6,100
Four Point Five Percentage Convertible Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.50%
Debt Instrument, Convertible, Convertion Period	5 years