Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 23, 2015 | Jun. 30, 2014 | |
Document Information [Line Items] | |||
Entity Registrant Name | BRAINSTORM CELL THERAPEUTICS INC. | ||
Entity Central Index Key | 1137883 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Smaller Reporting Company | ||
Trading Symbol | BCLI | ||
Entity Common Stock, Shares Outstanding | 18,393,546 | ||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $67,525,553 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash and cash equivalents | $4,251 | $3,503 |
Short-term deposit | 4,290 | 0 |
Account receivable (Note 5) | 1,005 | 910 |
Prepaid expenses | 32 | 33 |
Total current assets | 9,578 | 4,446 |
Long-Term Assets: | ||
Prepaid expenses | 20 | 22 |
Total long-term investments | 20 | 22 |
Property and Equipment, Net (Note 6) | 313 | 258 |
Total assets | 9,911 | 4,726 |
Current Liabilities: | ||
Trade payables | 1,542 | 228 |
Accrued expenses | 1,347 | 877 |
Other accounts payable | 224 | 227 |
Total current liabilities | 3,113 | 1,332 |
Long-Term Liabilities: | ||
Warrants issued to investors (Note 8(b)(1)(f)) | 123 | 655 |
Total long-term liabilities | 123 | 655 |
Total liabilities | 3,236 | 1,987 |
Stockholders' Equity: | ||
Stock capital: (Note 8) Common stock of $0.00005 par value - Authorized: 800,000,000 shares at December 31, 2014 and December 31, 2013; Issued and outstanding: 15,281,497 and 11,750,881 shares at December 31, 2014 and December 31, 2013 respectively. | 11 | 8 |
Additional paid-in-capital | 68,317 | 55,138 |
Accumulated deficit | -61,653 | -52,407 |
Total stockholders' equity | 6,675 | 2,739 |
Total liabilities and stockholders' equity | $9,911 | $4,726 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares Authorized | 800,000,000 | 800,000,000 |
Common stock, shares Issued | 15,281,497 | 11,750,881 |
Common stock, shares outstanding | 15,281,497 | 11,750,881 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Operating costs and expenses: | ||
Research and development, net (Note 9) | $4,772 | $2,917 |
General and administrative | 2,649 | 2,126 |
Total operating costs and expenses | 7,421 | 5,043 |
Financial expenses (income), net | 1,825 | -144 |
Operating loss | 9,246 | 4,899 |
Taxes on income (Note 10) | 0 | 0 |
Net loss | $9,246 | $4,899 |
Basic and diluted net loss per share from continuing operations (in dollars per share) | $0.68 | $0.46 |
Weighted average number of shares outstanding used in computing basic and diluted net loss per share (in shares) | 13,662,758 | 10,738,131 |
STATEMENTS_OF_CHANGES_IN_STOCK
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated deficit [Member] | |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2012 | $3,982 | $7 | $51,483 | ($47,508) | |
Balance (in shares) at Dec. 31, 2012 | 10,005,644 | ||||
Stock-based compensation related to warrants and stock granted to service providers | 197 | 197 | 0 | ||
Stock-based compensation related to warrants and stock granted to service providers (in shares) | 53,980 | ||||
Stock-based compensation related to stock and options granted to directors and employees | 674 | 674 | 0 | ||
Stock-based compensation related to stock and options granted to directors and employees (in shares) | 50,666 | ||||
Issuance of shares for public offering | 2,497 | 1 | 2,496 | 0 | |
Issuance of shares for public offering (in shares) | 1,568,628 | ||||
Issuance of shares for private placement | 250 | [1] | 250 | 0 | |
Issuance of shares for private placement (in shares) | 55,555 | ||||
Conversion of convertible loans | 30 | 0 | 30 | 0 | |
Conversion of convertible loans (in shares) | 8,408 | ||||
Exercise of options | 8 | [1] | 8 | 0 | |
Exercise of options (in shares) | 8,000 | ||||
Net loss | -4,899 | 0 | 0 | -4,899 | |
Balance at Dec. 31, 2013 | 2,739 | 8 | 55,138 | -52,407 | |
Balance (in shares) at Dec. 31, 2013 | 11,750,881 | ||||
Stock-based compensation related to warrants and stock granted to service providers | 198 | 0 | 198 | 0 | |
Stock-based compensation related to warrants and stock granted to service providers (in shares) | 53,419 | ||||
Stock-based compensation related to stock and options granted to directors and employees | 1,024 | 0 | 1,024 | 0 | |
Stock-based compensation related to stock and options granted to directors and employees (in shares) | 50,667 | ||||
Issuance of shares for private placement | 9,554 | 3 | 9,551 | 0 | |
Issuance of shares for private placement (in shares) | 2,800,000 | ||||
Stock issued for warrants exchange | 1,633 | [1] | 1,633 | 0 | |
Stock issued for warrants exchange (in shares) | 388,735 | ||||
Warrants liability classified as equity | 42 | 0 | 42 | 0 | |
Exercise of warrants | 701 | [1] | 701 | 0 | |
Exercise of warrants (in shares) | 180,018 | ||||
Exercise of options | 30 | [1] | 30 | ||
Exercise of options (in shares) | 57,777 | ||||
Net loss | -9,246 | 0 | 0 | -9,246 | |
Balance at Dec. 31, 2014 | $6,675 | $11 | $68,317 | ($61,653) | |
Balance (in shares) at Dec. 31, 2014 | 15,281,497 | ||||
[1] | Represents an amount less than $1. |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Cash flows from operating activities: | ||
Net loss | ($9,246) | ($4,899) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization of deferred charges | 106 | 97 |
Stock based compensation related to shares and warrants granted to service providers | 198 | 227 |
Stock-based compensation related to options granted to employees | 1,024 | 674 |
Increase in accounts receivable and prepaid expenses | -93 | -155 |
Increase (decrease) in trade payables | 1,314 | -130 |
Increase in other accounts payable and accrued expenses | 467 | 306 |
Revaluation of warrants | 1,743 | -174 |
Total net cash used in operating activities | -4,487 | -4,054 |
Cash flows from investing activities: | ||
Purchase of property and equipment | -161 | -108 |
Changes in short-term deposit | -4,290 | 2,769 |
Investment in lease deposit | 1 | -5 |
Total net cash provided by (used in) investing activities | -4,450 | 2,656 |
Cash flows from financing activities: | ||
Proceeds from issuance of Common stock, net | 9,554 | 3,576 |
Proceeds from exercise of warrants and options | 731 | 8 |
Redemption of warrants in cash | -600 | 0 |
Total net cash provided by financing activities | 9,685 | 3,584 |
Increase (decrease) in cash and cash equivalents | 748 | 2,186 |
Cash and cash equivalents at the beginning of the period | 3,503 | 1,317 |
Cash and cash equivalents at end of the period | 4,251 | 3,503 |
Non-cash financing activities: | ||
Stock issued for warrants exchange | 1,633 | 0 |
Warrants liability classified as equity | $42 | $0 |
GENERAL
GENERAL | 12 Months Ended | ||
Dec. 31, 2014 | |||
General and Going Concern Disclosure [Abstract] | |||
Business Description and Basis of Presentation [Text Block] | NOTE 1 - GENERAL | ||
A. | Brainstorm Cell Therapeutics Inc. (formerly: Golden Hand Resources Inc. - the "Company") was incorporated in the State of Washington on September 22, 2000. | ||
B. | On July 8, 2004, the Company entered into a licensing agreement with Ramot of Tel Aviv University Ltd. ("Ramot"), to acquire certain stem cell technology (see Note 3). Subsequent to this agreement, the Company decided to focus on the development of novel cell therapies for neurodegenerative diseases based on the acquired technology and research to be conducted and funded by the Company. | ||
Following the licensing agreement dated July 8, 2004, the management of the Company decided to abandon all old activities related to the sale of the digital data recorder product. | |||
C. | On October 25, 2004, the Company formed a wholly-owned subsidiary in Israel, Brainstorm Cell Therapeutics Ltd. ("BCT"). | ||
D. | On November 18, 2004, the Company changed its name from Golden Hand Resources Inc. to Brainstorm Cell Therapeutics Inc. to better reflect its new line of business in the development of novel cell therapies for neurodegenerative diseases. BCT, as defined above, owns all operational property and equipment. | ||
The Common Stock is publicly traded on the NASDAQ Capital Market ("Nasdaq") under the symbol "BCLI" (See Note 1(W)). | |||
E. | In October 2010, the Israeli Ministry of Health (“MOH”) granted clearance for a Phase I/II clinical trial using the Company’s autologous NurOwn® stem cell therapy in patients with amyotrophic lateral sclerosis (“ALS”), subject to some additional process specifications as well as completion of the sterility validation study for tests performed. | ||
On February 23, 2011, the Company submitted, to the MOH, all the required documents. Following approval of the MOH, a Phase I/II clinical study for ALS patients using the Company’s autologous NurOwn® stem cell therapy (the “Clinical Trial”) was initiated in June 2011. | |||
F. | In February 2011, the U.S. Food and Drug Administration (“FDA”) granted orphan drug designation to the Company’s NurOwn® autologous adult stem cell product for the treatment of ALS. | ||
G. | On February 19, 2013, Brainstorm Ltd established a wholly-owned subsidiary, Brainstorm Cell Therapeutics UK Ltd. (“Brainstorm UK”). Brainstorm UK acts on behalf of the parent Company in the EU. | ||
H. | On February 21, 2013, Brainstorm UK filed a request for Orphan Medicinal Product Designation by the European Medicine Agency (EMA) for its Autologous Bone Marrow derived Mesenchymal Stem cells Secreting Neurotropic factors (MSC-NTF, NurOwn®). On July 17, 2013, the European Commission granted Orphan Drug Designation to the Company’s NurOwn® autologous adult stem cell product for the treatment of ALS. | ||
I. | On March 14, 2013, the Company signed a definitive agreement with the Mayo Clinic in Rochester, Minnesota to conduct its Phase II clinical trial of NurOwn® in ALS pending FDA approval. In addition, Mayo's Human Cell Therapy Laboratory will manufacture the NurOwn® cells for their clinical trial participants. | ||
J. | Effective April 3, 2013, the Company entered into an agreement with Dana-Farber Cancer Institute (“Dana-Farber”) to provide cGMP-compliant clean room facilities for production of the Company’s NurOwn® stem cell candidate during its Phase II ALS trial in the United States. The Company’s Phase II trial, is conducted at Massachusetts General Hospital (“MGH”), the University of Massachusetts (“UMass”) Hospital and the Mayo Clinic. The Connell and O'Reilly Cell Manipulation Core Facility at Dana-Farber will produce NurOwn® for the MGH and UMass Hospital clinical sites. | ||
K. | On September 27, 2013, the Company announced that it recently completed treatment of the 12 patients in its ALS Phase IIa dose-escalating clinical trial with the Company’s NurOwn® technology. The Company was informed that one patient in the study expired due to a medical condition unrelated to the Clinical Trial. | ||
The Clinical Trial was being performed at Hadassah Medical Center in Jerusalem, Israel, under the direction of Prof. Dimitrios Karussis, M.D., Ph.D., head of Hadassah's Multiple Sclerosis Center and a member of the International Steering Committees for Bone Marrow and Mesenchymal Stem Cells Transplantation in Multiple Sclerosis (MS). The study was designed to establish the safety and preliminary efficacy of NurOwn® at increasing dosages. | |||
L. | On December 4, 2013, a Notice of Intention to Grant from the European Patent Office (EPO) was issued for the Company's patent application entitled "Isolated Cells and Populations Comprising Same for the Treatment of CNS Diseases" (European serial number EP06766101.7) . This patent relates to the production method for the Company's proprietary stem cells induced to secrete large quantities of neurotrophic factors for the treatment of neurodegenerative diseases. | ||
M. | On February 11, 2014, a Notice of Allowance was issued from the U.S. Patent Office for the same patent application as above, U.S. serial number 11/727,583. | ||
N. | On March 4, 2014, a Notice of Allowance was issued from the U.S. Patent Office for the same patent application as above, U.S. serial number 12/994,761. | ||
O. | On March 24, 2014, BCT signed a definitive agreement with MGH in Boston, MA to conduct a Phase II clinical trial of NurOwn® in ALS, pending FDA approval. | ||
P. | On April 28, 2014, the Company announced that the FDA has approved commencement of its Phase II clinical trial with NurOwn® in patients with ALS. The trial was launched at MGH in Boston, MA and the UMass Hospital in Worcester, MA after Institutional Review Board (IRB) approvals. Dana-Farber Cancer Institute's Connell O'Reilly Cell Manipulation Core Facility manufactures the NurOwn® cells for these two clinical sites. The trial is also conducted at the Mayo Clinic in Rochester, Minnesota. | ||
Q. | On June 2, 2014, the Company announced that interim results from the Company's Phase IIa ALS trial conducted at Hadassah Medical Center in Jerusalem, Israel were presented on June 1, 2014 at the Joint Congress of European Neurology by Principal Investigator Professor Dimitrios Karussis. The positive safety and preliminary efficacy results observed in this study are consistent with results observed in the Company's previous Phase I/II trial. Between these two studies, a total of 26 patients have been treated with NurOwn®, the Company’s stem cell therapy candidate for ALS. | ||
R. | On June 6, 2014, the Company announced that its Phase II ALS clinical trial has commenced with the enrollment of the first patient at MGH in Boston, Massachusetts. The Company’s Phase II trial is a randomized, double-blind, placebo controlled multi-center study designed to evaluate the safety and efficacy of transplantation of NurOwn® in 48 ALS patients. The trial is also being conducted at the UMass Hospital in Worcester, Massachusetts and the Mayo Clinic in Rochester, Minnesota. | ||
S. | On June 10, 2014, the Company announced that it has initiated a study in a mouse model of autism at the Felsenstein Medical Research Center, Sackler Faculty of Medicine, Tel Aviv University, under the direction of Professor Daniel Offen. The study explores the effects of the Company's "MSC-NTF" cells on mouse behavior. The study, which is being conducted using the BTBR mouse model for autism, will investigate repetitive behavior, increased cognitive flexibility and improved sociability in mice after administration of a single intracerebroventricular injection of the cells. | ||
T. | On June 24, 2014, the Company signed a definitive agreement with the UMass Hospital in Worcester, MA to conduct a Phase II clinical trial of NurOwn® in ALS. | ||
U. | On July 1, 2014, the Company signed a definitive agreement with Professional Research Consulting Clinical Inc., CA ("PRC"), to monitor the Phase II clinical trial of NurOwn® in ALS. | ||
V. | A reverse stock split of the Company’s shares of Common Stock by a ratio 1-for-15 was effected on September 15, 2014 at 11:59 p.m. pursuant to an amendment to the Company’s Certificate of Incorporation approved by the stockholders of the Company on August 14, 2014. 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. | ||
W. | The Company’s shares of Common Stock were approved for uplisting to the NASDAQ, and commenced trading on the NASDAQ on September 30, 2014 under the ticker symbol "BCLI." | ||
GOING CONCERN: | |||
As reflected in the accompanying financial statements, the Company’s operations for the year ended December 31, 2014, resulted in a net loss of $9,246. The Company’s balance sheet reflects an accumulated deficit of $61,653. These conditions, together with the fact that the Company has no revenues from operations expected in the near future, raise substantial doubt about the Company's ability to continue to operate as a going concern. The Company’s ability to continue operating as a “going concern” is dependent on several factors, among them is its ability to raise sufficient additional working capital. | |||
After the balance sheet date, in January 2015, the Company raised approximately $16 million, gross, from exercise of warrants issued in July 2012 and from sale of additional warrants in a private offering (See Note 12B). The Company believes that the Company has resources to carry out its operations in the upcoming year. However, there can be no assurance that additional funds will be available on terms acceptable to the Company, or that the Company will not incur additional unforeseen costs or expenses. | |||
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. | |||
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | |||
A. | Basis of presentation: | |||
The consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) applied on a consistent basis. | ||||
B. | Use of estimates: | |||
The preparation of financial statements in conformity with GAAP 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. | ||||
C. | Financial statements in U.S. dollars: | |||
The functional currency of the Company is the U.S dollar ("dollar") since the dollar is the currency of the primary economic environment in which the Company has operated and expects to continue to operate in the foreseeable future. Part of the transactions of BCT is recorded in new Israeli shekels ("NIS"); however, a substantial portion of BCT’s costs are incurred in dollars or linked to the dollar. Accordingly, management has designated the dollar as the currency of BCT’s primary economic environment and thus it is their functional and reporting currency. | ||||
Transactions and balances denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to dollars in accordance with the provisions of ASC 830-10 (formerly Statement of Financial Accounting Standard 52), "Foreign Currency Translation". All transaction gains and losses from re-measurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statement of operations as financial income or expenses, as appropriate. | ||||
D. | Principles of consolidation: | |||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, BCT and Brainstorm UK. Intercompany balances and transactions have been eliminated upon consolidation. | ||||
E. | Cash and cash equivalents: | |||
Cash equivalents are short-term highly liquid investments that are readily convertible to cash with maturities of three months or less as of the date acquired. | ||||
F. | Property and equipment: | |||
Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated by the straight-line method over the estimated useful lives of the assets. | ||||
The annual depreciation rates are as follows: | ||||
% | ||||
Office furniture and equipment | 7 | |||
Computer software and electronic equipment | 33 | |||
Laboratory equipment | 15 | |||
Leasehold improvements | Over the shorter of the lease term (including the option) or useful life | |||
G. | Impairment of long-lived assets: | |||
The Company’s long-lived assets are reviewed for impairment in accordance with ASC 360-10 (formerly Statement of Financial Accounting Standard 144), "Accounting for the Impairment or Disposal of Long-Lived Assets,” whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. During 2014 and 2013, no impairment losses were identified. | ||||
H. | Accrued post-employment benefit | |||
The Company entered into an employment agreement with its CEO which contains provisions for severance pay under certain circumstances. If the CEO is terminated by the Company without Cause (as defined in the agreement) or if the CEO terminates employment with Good Reason (as defined in the agreement), the CEO will be entitled to (i) his base salary for between 4 and 9 months (depending on length of employment before termination), (ii) his bonus compensation that he would have been entitled to during this payment period, (iii) the immediate vesting of any options that would have vested within the 6 month period following termination and (iv) health insurance benefits during the payment period. If the CEO's employment is terminated in connection with a Change of Control (as defined in the agreement), the CEO will be entitled to (i) his base salary for 12 months, (ii) his target bonus compensation for the year in which the Change of Control occurred and (iii) immediate vesting of all options granted to the CEO. In accordance with ASC 712, no severance liability has been recorded on the Company's balance sheet with respect to this employment agreement as of December 31, 2014. | ||||
The majority of the Company's employees in Israel have agreed to Section 14 of Israel's Severance Pay Law, 5723-1963 (“Section 14”). Pursuant to Section 14, those of the Company's employees that are covered by this section are entitled only to an amount of severance pay equal to monthly deposits, at a rate of 8.33% of their monthly salary, made on their behalf by the Company. Payments in accordance with Section 14 release the Company from any future severance liabilities in respect of those employees. Neither severance pay liability nor severance pay funds under Section 14 for such employees is recorded on the Company's balance sheet. | ||||
I. | Fair value of financial instruments: | |||
The carrying values of cash and cash equivalents, accounts receivable and prepaid expenses, trade payables and other accounts payable approximate their fair value due to the short-term maturity of these instruments. | ||||
The Company utilizes the Black Scholes Merton formula to measure the fair value of the warrants issued. The assumptions included in the Black-Scholes model were: (i) the market price of the Company's shares; (ii) the exercise price of the warrant; (iii) risk-free interest; (iv) term available to exercise or redeem the security and (v) the volatility of the shares during the relevant term. The Company determines the volatility of its shares using daily historical quotes of the shares. The risk free interest rate is determined as the interest rate on governmental bonds with maturity commensurate with the term of the warrant. | ||||
J. | Accounting for stock-based compensation: | |||
In accordance with ASC 718-10 (formerly Statement of Financial Accounting Standards 123 (Revised 2004)) the Company estimates the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company's consolidated statement of operations. | ||||
The Company recognizes compensation expense for the value of non-employee awards, which have graded vesting, based on the straight-line method over the requisite service period of each award. | ||||
The Company recognizes compensation expense for the value of employee awards that have graded vesting, based on the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. | ||||
The Company estimates the fair value of restricted shares based on the market price of the shares at the grant date and estimates the fair value of stock options granted using a Black-Scholes options pricing model. The option-pricing model requires a number of assumptions, of which the most significant are, expected stock price volatility and the expected option term (the time from the grant date until the options are exercised or expire). Expected volatility was calculated based upon actual historical stock price movements over the period, equal to the expected option term. The Company has historically not paid dividends and has no foreseeable plans to issue dividends. The risk-free interest rate is based on the yield from U.S. Treasury zero-coupon bonds with an equivalent term. | ||||
K. | Basic and diluted net loss per share: | |||
Basic net loss per share is computed based on the weighted average number of shares outstanding during each year. Diluted net loss per share is computed based on the weighted average number of shares outstanding during each year, plus the dilutive potential of the Common Stock considered outstanding during the year, in accordance with ASC 260-10 (formerly Statement of Financial Accounting Standard 128), "Earnings per Share". | ||||
All outstanding stock options and warrants have been excluded from the calculation of the diluted loss per share for the year ended December 31, 2014 and December 31, 2013, since all such securities have an anti-dilutive effect. | ||||
L. | Research and development expenses, net: | |||
Research and development expenses, are charged to the statement of operations as incurred. | ||||
Royalty-bearing grants from the Government of Israel for funding approved 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. Such grants are included as a deduction of research and development costs since at the time received it is not probable the Company will generate sales from these projects and pay the royalties resulting from such sales. | ||||
M. | Income taxes: | |||
The Company accounts for income taxes in accordance with ASC 740-10 (formerly Statement of Financial Accounting Standard 109), "Accounting for Income Taxes." This Statement requires the use of the liability method of accounting for income taxes, whereby deferred tax asset and liability account balances are determined based on the differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and BCT provide a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. | ||||
N. Reverse Stock Split | ||||
On September 15, 2014, the Company completed the reverse stock split, whereby each fifteen shares of Common Stock of the Company were combined and were reclassified into one share of Common Stock of the Company, and the number of issued and outstanding shares of Common Stock of the Company was proportionally reduced, in both cases without any change to the authorized number of shares of Common Stock or in the par value of such shares. | ||||
Upon implementation of the recapitalization described above, 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. | ||||
O. 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 2017; 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 the expected impact of the new standard on its consolidated financial statements. | ||||
In June 2014, the Financial Accounting Standards Board issued a new standard which eliminates the concept of a development-stage entity from U.S. GAAP as well as the related requirement to present inception-to-date information. Following the issuance of this standard, inception-to-date information is no longer presented in the Company's financial statements. | ||||
In August 2014, the Financial Accounting Standards Board issued a new standard which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. Further, an entity must provide certain disclosures if there is a substantial doubt about the entity’s ability to continue as a going concern. The new standard did not impact the outcome of the Company's assessment with respect to its ability to continue as a going concern. | ||||
RESEARCH_AND_LICENSE_AGREEMENT
RESEARCH AND LICENSE AGREEMENT | 12 Months Ended | ||
Dec. 31, 2014 | |||
Research and License Agreement [Abstract] | |||
Research and License Agreement [Text Block] | NOTE 3 - 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% of all Net Sales. | ||
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% of all Net Sales until the expiration of 15 years from the date of the First Commercial Sale of such Licensed Product in such jurisdiction. | ||
CONSULTING_AGREEMENTS
CONSULTING AGREEMENTS | 12 Months Ended | ||
Dec. 31, 2014 | |||
Consulting Agreements [Abstract] | |||
Consulting Agreements [Text Block] | NOTE 4 - CONSULTING AGREEMENTS | ||
A. | On July 8, 2004, the Company entered into two consulting agreements with Prof. Eldad Melamed and Dr. Daniel Offen (together, the "Consultants"), under which the Consultants provide the Company scientific and medical consulting services in consideration for a monthly payment of $6 each. In June 2012, an amendment was signed with Dr. Daniel Offen, according to which the Company pays Daniel Offen a monthly payment of $6, out of which $3 is in cash and $3 is by grant of Company stock. | ||
B. | On January 16, 2013, the Company granted the Consultants an aggregate of 14,400 shares of Common Stock for their services from January 1, 2012 through December 31, 2012. Related compensation in the amount of $54 was recorded as research and development expense. | ||
C. | On November 13, 2013, the Company approved grants of an aggregate of 30,000 shares of Common Stock to the Consultants, for services rendered during January 1, 2013 through September 30, 2013. | ||
D. | 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 2013. | ||
E. | As of December 31, 2014, the Company has a total obligation of $111 for services rendered by the Consultants under the above-mentioned agreements. | ||
ACCOUNTS_RECEIVABLE
ACCOUNTS RECEIVABLE | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 - ACCOUNTS RECEIVABLE | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Government institutions | 43 | 60 | |||||||
Grants receivable from the CSO | 962 | 850 | |||||||
1,005 | 910 | ||||||||
PROPERTY_AND_EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6 - PROPERTY AND EQUIPMENT | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Cost: | |||||||||
Office furniture and equipment | 73 | 18 | |||||||
Computer software and electronic equipment | 159 | 149 | |||||||
Laboratory equipment | 576 | 482 | |||||||
Leasehold improvements | 716 | 716 | |||||||
1,524 | 1,365 | ||||||||
Accumulated depreciation: | |||||||||
Office furniture and equipment | 8 | 5 | |||||||
Computer software and electronic equipment | 132 | 116 | |||||||
Laboratory equipment | 404 | 350 | |||||||
Leasehold improvements | 667 | 636 | |||||||
1,211 | 1,107 | ||||||||
Depreciated cost | 313 | 258 | |||||||
Depreciation expenses for the years ended December 31, 2014 and December 31, 2013 were $106 and $97, respectively. | |||||||||
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Commitments and Contingencies Disclosure [Text Block] | NOTE 7 - COMMITMENTS AND CONTINGENCIES | |||||||
A. | In November 2012, BCT entered into an amended lease agreement for the lease of its facilities. The term of the lease is 60 months, with an option to terminate the agreement with 6 month pre-notice, after 36 months. Rent is paid on a monthly basis in the amount of NIS 40,000(approximately $11) per month. | |||||||
B. | In October 2014, we entered into a lease agreement for our headquarters, according to which we leased approximately 220 square meters of office space for a term of 63 months commencing October 1, 2014. Rent is paid on a monthly basis in the amount of approximately U.S. $4. | |||||||
The facilities and vehicles of the Company and BCT are rented under operating leases that expire on various dates. Aggregate minimum rental commitments under non-cancelable leases as of December 31, 2014 are as follows: | ||||||||
Period ending December 31, 2014 | Facilities | Vehicles | Total | |||||
2015 | 172 | 9 | 181 | |||||
2016 | 103 | - | 103 | |||||
2017 | 54 | - | 54 | |||||
2018 | 55 | 55 | ||||||
2019 | 57 | 57 | ||||||
441 | 9 | 450 | ||||||
Total facilities rent expense for the years ended December 31, 2014 and 2013 were $150 and $129, respectively. | ||||||||
C. | Commitments to pay royalties to the Chief Scientist: | |||||||
BCT obtained from the Chief Scientist of the State of Israel grants for participation in research and development for the years 2007 through 2014, and, in return, BCT is obligated to pay royalties amounting to 3%-3.5% of its future sales up to the amount of the grant. The grant is linked to the exchange rate of the dollar and bears interest of Libor per annum. | ||||||||
Through the year ended December 31, 2014, total grants obtained amounted to $1,169. After the balance sheet date, the Company received approximately $159. | ||||||||
D. | On February 17, 2010, BCT entered into an agreement with Hadasit Medical Research Services and Development Ltd ("Hadasit"), which was revised in June 2011, to conduct clinical trials in ALS patients. According to the agreement, BCT paid to Hadasit $32 per patient totaling up to $773 for the conduction of the Clinical Trials. In October 2014, the Company finalized the clinical trial at Hadassah and has no further obligations to Hadasit. | |||||||
In addition, BCT signed an agreement with Hadasit for rental and operation of one clean room, for the consideration of $31 monthly. The Company has the right to cease the rental of the clean room at any time upon 30 days’ prior notice. | ||||||||
STOCK_CAPITAL
STOCK CAPITAL | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 - 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: | |||||||||||||||||||||
(a) | In July 2007, the Company entered into an investment agreement, that was amended in August 2009, according to which for an aggregate subscription price of up to $5,000, 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 may be exercised at any time and expire on November 5, 2013. In May 2012, the warrants were extended by an additional 18 months, through May 5, 2015. In May 2014, the warrants were extended by an additional 18 months, through November 5, 2017. | |||||||||||||||||||||
In January 2011, the Company and the investor signed an agreement to balance the remaining amount due to the investor, totaling $20, against the remaining balance of the investment and the Company issued the above shares and warrants. | ||||||||||||||||||||||
In addition, the Company issued an aggregate of 83,333 shares of Common Stock to a related party as an introduction fee for the investment. As of the balance sheet date, no warrants have been exercised. | ||||||||||||||||||||||
(b) | In February 2010, the Company issued an aggregate of 399,999 shares of Common Stock to three investors (133,333 to each investor) and warrants to purchase an aggregate of 199,998 shares of Common Stock (66,666 to each investor) with an exercise price of $7.50 per share for aggregate proceeds of $1,500 ($500 from each investor). | |||||||||||||||||||||
(c) | On July 17, 2012, the Company raised $5,700 in gross proceeds through a public offering (“2012 Public Offering”) of its Common Stock. The Company issued a total of 1,321,265 shares of Common Stock, ($4.35 per share) and 990,949 warrants to purchase 0.75 shares of Common Stock for every share purchased in the 2012 Public Offering, at an exercise price of $4.35 per share. The Warrants are exercisable until the 30 month anniversary of the date of issuance. | |||||||||||||||||||||
After deducting closing costs and fees, the Company received net proceeds of approximately $4,900. | ||||||||||||||||||||||
The Company paid to the Placement Agency, Maxim Group LLC (the “Placement Agent”), a cash fee and a corporate finance fee equal to 7% of the gross proceeds of the 2012 Public Offering. In addition, the Company issued to the Placement Agent a two year warrant to purchase up to 32,931 shares of Common Stock (equal to 3% of the number of shares sold in the 2012 Public Offering), with an exercise price equal to $5.22 (120% of the 2012 Public Offering price). The Warrants are exercisable until the 30 month anniversary of the date of issuance. In addition, the Company issued to Leader Underwriters (1993) Ltd, warrants to purchase 15,517 shares of Common Stock, at an exercise price of $4.35 per share. The warrants are exercisable until the 30 month anniversary of the date of issuance. | ||||||||||||||||||||||
(d) | 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. | |||||||||||||||||||||
(e) | 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 $7.50 per share exercisable for 32 months. | |||||||||||||||||||||
(f) | On August 16, 2013, the Company raised $4,000 (gross) through a registered public offering (“2013 Public Offering”) of its Common Stock. The Company issued a total of 1,568,628 shares of Common Stock, ($2.55 per share) and 1,176,471 warrants (the “2013 Warrants”) to purchase 0.75 shares of Common Stock for every share purchased in the 2013 Public Offering, at an exercise price of $3.75 per share. The Warrants are exercisable until the 36 month anniversary of the date of issuance. The Warrants also include, 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. In the event of a sale of the Company, each holder of Warrants has the right, exercisable at its option, to require the Company to purchase such holder’s Warrants at a price determined using a Black-Scholes option pricing model as described in 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 Stock of 2,496 were recorded to equity. | ||||||||||||||||||||||
On April 25, 2014, the Company entered into agreements with certain holders of warrants originally issued in the Company’s August 16, 2013 public offering (the “2013 Warrants”) to exchange outstanding 2013 Warrants entitling the holders to purchase an aggregate of 777,471 shares of Company Common Stock for an aggregate of 388,735 unregistered shares of Common Stock. After the exchange, the 2013 Warrants were cancelled and of no further force and effect. | ||||||||||||||||||||||
On May 27, 2014, the Company entered into agreements with certain holders of 2013 Warrants to repurchase outstanding 2013 Warrants entitling the holders to purchase an aggregate of 333,235 shares of Company Common Stock for an aggregate of approximately $600. Each share of Common Stock issuable pursuant to the 2013 Warrants was repurchased for a $1.80 cash payment by the Company per Warrant Share. Warrants participating in the Redemption were cancelled and of no further force and effect. | ||||||||||||||||||||||
In May 2014, certain holders of 2013 Warrants which did not participate in the Redemption have waived anti-dilution provisions of their 2013 Warrants. | ||||||||||||||||||||||
In July 2014, the Company signed an amendment with certain holders of 2013 Warrants that did not participate in the Redemption, to adjust the exercise price of the warrants to $0.525 per share. | ||||||||||||||||||||||
As of December 31, 2014, the fair value of 2013 Warrants that were presented as a liability at its fair value was $123. | ||||||||||||||||||||||
After the balance sheet date, the 2013 Warrants were exercised to Common Stock of the Company and the liability was cancelled. (See Note 12(A)). | ||||||||||||||||||||||
(g) On June 19, 2014, the Company, pursuant to the June 13, 2014 securities purchase agreement, entered into with a group of investors, including several healthcare-focused funds, effected a private placement of the Company’s Common Stock and warrants to purchase Common Stock. The Company received gross proceeds of $10.5 million, resulting from the issuance and sale of 2.8 million shares of Common Stock at a price per share of $3.75, a 15% discount to the 30 day volume-weighted average price of $4.41. The Investors received warrants to purchase up to 2.8 million shares of Common Stock at an exercise price of $5.22 per share. The Warrants became exercisable immediately upon closing of the private placement and have a term of three (3) years. | ||||||||||||||||||||||
2 | Share-based compensation to employees and to directors: | |||||||||||||||||||||
(a) | Options to employees and 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 date of the respective option. | ||||||||||||||||||||||
The 2004 and 2005 option plans will expire 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, and the reservation of 600,000 shares of Common Stock for issuance in the aggregate under these stock plans. | ||||||||||||||||||||||
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. The options vest primarily over three years. Any options that are canceled or forfeited before expiration become available for future grants. | ||||||||||||||||||||||
From 2005 through 2009, the Company granted its directors options to purchase 53,333 (in total) shares of Common Stock of the Company at an exercise price of $2.25 per share. The options are fully vested and will expire 10 years after the grant date. | ||||||||||||||||||||||
On April 13, 2010, the Company, Abraham Israeli and Hadasit Medical Research Services and Development Ltd. (“Hadasit”) entered into an Agreement (as amended, the “Hadasit Agreement”) pursuant to which Prof. Israeli agreed, during the term of the Hadasit Agreement, to serve as (i) the Company’s Clinical Trials Advisor and (ii) a member of the Company’s Board of Directors. | ||||||||||||||||||||||
Accordingly, the Company granted to Prof. Israeli in each of April 2010, June 2011, April 2012 and April 2013, an option to purchase 11,111 shares of Common Stock at an exercise price equal to $0.00075 per share. | ||||||||||||||||||||||
In addition, the Company granted Hadasit, in each of April 2010, June 2011, April 2012 and April 2013, a warrant to purchase 2,222 shares of Common Stock at an exercise price equal to $0.00075 per share. | ||||||||||||||||||||||
Such options and warrants will vest and become exercisable in twelve (12) consecutive equal monthly amounts. | ||||||||||||||||||||||
In addition, on April 13, 2014, pursuant to the Hadasit Agreement, and pursuant to the December 2013 letter from the Company to Prof. Israeli, the Company issued to Prof. Israeli, an option to purchase 20,000 shares of its Common Stock at an exercise price of $0.00075 per share. | ||||||||||||||||||||||
On April 25, 2014, the Hadasit Agreement was terminated. As a result of the termination, Prof. Israeli and Hadasit will no longer receive annual grants to purchase shares of Common Stock, and any outstanding and unvested grants made pursuant to the Hadasit Agreement ceased to vest, and the grants were valid until and exercisable only on or before October 25, 2014. | ||||||||||||||||||||||
In October 2014, Prof Israeli exercised his option to purchase 44,444 shares of Common Stock of the Company. In October 2014, Hadasit exercised its warrants to purchase 8,889 shares of Common Stock of the Company. | ||||||||||||||||||||||
On December 16, 2010, the Company granted to two of its directors an option to purchase 26,667 shares of Common Stock at an exercise price of $2.25 per share. The options are fully vested and are exercisable for a period of 10 years. The compensation related to the option, in the amount of $78, was recorded as general and administrative expense. | ||||||||||||||||||||||
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. The total compensation related to the option was $105, which is amortized over the vesting period as general and administrative expense. | ||||||||||||||||||||||
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. The total compensation expense related to the options of $95 was recorded as general and administrative expense. | ||||||||||||||||||||||
On June 6, 2014, the Company entered into an employment agreement which sets forth the terms of the COO’s employment. The COO also was granted a stock option under the Company’s Amended and Restated 2004 Global Share Option Plan for the purchase of 33,333 shares of the Company’s Common Stock, which was fully vested and exercisable upon grant. The exercise price for the initial grant is $2.70 per share. The total related compensation expense, in the amount of $55 was recorded as general and administrative expense. | ||||||||||||||||||||||
On June 9, 2014, the Company hired the new CEO. The CEO was granted a stock option for the purchase of 380,000 shares of the Company’s Common Stock, which shall vest and become exercisable as to 25% of the shares on the first anniversary of the grant date and the remainder of the shares shall vest and become exercisable in equal monthly installments on each of the 36 monthly anniversaries following the initial vesting date. The exercise price for the CEO Grant is $4.50 per share. The total related compensation expense, in the amount of $1,494 will be recorded as general and administrative expense. | ||||||||||||||||||||||
On November 1, 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. As of December 31, 2014, the compensation expense related to the options of $143 was recorded as general and administrative expense. | ||||||||||||||||||||||
A summary of the Company's option activity related to options to employees and directors, and related information is as follows: | ||||||||||||||||||||||
For the year ended | For the year ended | |||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||
Amount of | Weighted | Aggregate | Amount of | Weighted | Aggregate | |||||||||||||||||
options | average | intrinsic | options | average | intrinsic | |||||||||||||||||
exercise | value | exercise | value | |||||||||||||||||||
price | price | |||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||
Outstanding at beginning of period | 412,388 | 2.5576 | 316,777 | 2.7045 | ||||||||||||||||||
Granted | 504,000 | 3.6766 | 381,777 | 3.738 | ||||||||||||||||||
Exercised | -66,500 | 2.125 | -1,333 | 1.005 | ||||||||||||||||||
Cancelled | -57,778 | 0.5198 | -284,833 | 4.3095 | ||||||||||||||||||
Outstanding at end of period | 792,110 | 3.4545 | 1,034,072 | 412,388 | 2.5575 | 58,765 | ||||||||||||||||
Vested and expected-to-vest at end of period | 331,500 | 2.6994 | 683,088 | 335,795 | 2.568 | 44,325 | ||||||||||||||||
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 December 31, 2014 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2014. | ||||||||||||||||||||||
The options outstanding as of December 31, 2014 and December 31, 2013, have been separated into exercise prices, as follows: | ||||||||||||||||||||||
Weighted average | ||||||||||||||||||||||
Options | Options | remaining | ||||||||||||||||||||
outstanding | outstanding | contractual | ||||||||||||||||||||
as of | as of | Life - Years | Options exercisable as of | |||||||||||||||||||
Exercise price | December 31, | December 31, | As of December 31, | December 31, | ||||||||||||||||||
$ | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | ||||||||||||||||
0.0075 | 44,444 | - | 7.29 | - | 40,741 | - | ||||||||||||||||
0.75 | - | 70,666 | - | 9.84 | - | 26,500 | ||||||||||||||||
1.005 | 6,445 | 6,445 | 5.5 | 4.5 | 6,445 | 6,445 | ||||||||||||||||
2.25 | 173,667 | 160,333 | 6.86 | 5.85 | 163,444 | 160,333 | ||||||||||||||||
2.7 | 105,333 | 130,666 | 8.57 | 7.96 | 42,666 | 94,222 | ||||||||||||||||
3 | 33,833 | - | 7.51 | - | 33,833 | - | ||||||||||||||||
3.9 | 23,666 | 19,000 | 8.59 | 7.59 | 23,666 | 19,000 | ||||||||||||||||
4.5 | - | 380,000 | - | 9.44 | - | 0 | ||||||||||||||||
4.8 | 2,000 | 2,000 | 6.12 | 5.12 | 2,000 | 2,000 | ||||||||||||||||
5.85 | 6,000 | 6,000 | 3.5 | 2.5 | 6,000 | 6,000 | ||||||||||||||||
6 | 6,000 | 6,000 | 2.47 | 1.47 | 6,000 | 6,000 | ||||||||||||||||
7.05 | 6,000 | 6,000 | 3.22 | 2.22 | 6,000 | 6,000 | ||||||||||||||||
11.25 | 5,000 | 5,000 | 1.16 | 0.16 | 5,000 | 5,000 | ||||||||||||||||
412,388 | 792,110 | 7.236 | 8.183 | 335,795 | 331,500 | |||||||||||||||||
Compensation expense recorded by the Company in respect of its stock-based employee compensation awards in accordance with ASC 718-10 for the year ended December 31, 2014 and 2013 amounted to $1,024 and $674, respectively. | ||||||||||||||||||||||
The fair value of the options is estimated at the date of grant using Black-Scholes options pricing model with the following assumptions used in the calculation: | ||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Expected volatility | 122%-123% | 121% | ||||||||||||||||||||
Risk-free interest | 1.49%-1.96% | 0.86% | ||||||||||||||||||||
Dividend yield | 0% | 0% | ||||||||||||||||||||
Expected life of up to (years) | 5.76-6.05 | 5.4 | ||||||||||||||||||||
(b) | Restricted shares to directors: | |||||||||||||||||||||
On August 22, 2011, the Company entered into an agreement with Chen Schor pursuant to which the Company granted to Mr. Schor 61,558 shares of restricted Common Stock of the Company. The shares will vest over 3 years - 1/3 upon each anniversary of the grant date. In addition, the Company will pay $15 per quarter to Mr. Schor for his services as an Executive Board Member. | ||||||||||||||||||||||
On April 19, 2013, 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 shares will vest in 12 equal monthly portions until fully vested on the anniversary of grant. Related compensation expense in the amount of $175 was recorded as general and administrative expense. | ||||||||||||||||||||||
On August 15, 2014, 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 shares will vest in 12 equal monthly portions until fully vested on the anniversary of grant. Related compensation expense in the amount of $236 will be recorded as general and administrative expense. | ||||||||||||||||||||||
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 and investors: | |||||||||||||||||||||
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 during 2012, 2013 and 2014 using the Black-Scholes calculation. | ||||||||||||||||||||||
Issuance date | Number of | Exercised | Forfeited | Outstanding | Exercise | Warrants | Exercisable | |||||||||||||||
warrants | Price $ | exercisable | through | |||||||||||||||||||
issued | ||||||||||||||||||||||
Nov-Dec 2004 | 973,390 | 959,734 | 13,656 | - | 0.00075 - 0.15 | - | - | |||||||||||||||
Feb-Dec 2005 | 203,898 | 32,011 | 169,887 | 2,000 | 2.25 - 37.5 | 2,000 | Jun - Dec 2015 | |||||||||||||||
Feb-Dec 2006 | 112,424 | 48,513 | 31,911 | 32,000 | 0.075 – 22.5 | 32,000 | Feb - May 2016 | |||||||||||||||
Mar-Nov 2007 | 180,220 | - | 66,887 | 113,333 | 2.25 - 7.05 | 113,333 | Mar 2017 – Oct 2017 | |||||||||||||||
Nov-08 | 6,667 | - | - | 6,667 | 2.25 | 6,667 | 18-Sep | |||||||||||||||
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 | 17-Nov | |||||||||||||||
Jan-10 | 83,333 | - | 83,333 | - | 7.5 | - | - | |||||||||||||||
Feb-10 | 8,333 | 8,333 | - | - | 0.15 | - | - | |||||||||||||||
Feb-10 | 200,000 | - | 200,000 | - | 7.5 | - | - | |||||||||||||||
Feb-10 | 100,000 | - | - | 100,000 | 0.015 | 100,000 | 20-Feb | |||||||||||||||
Feb-11 | 42,735 | - | 42,735 | - | 5.85 | - | - | |||||||||||||||
Feb-11 | 427,167 | 63,122 | 364,044 | - | 4.2 | - | - | |||||||||||||||
Feb-11 | 854,333 | - | 854,333 | - | 7.5 | - | - | |||||||||||||||
Jul-12 | 32,931 | - | 32,931 | - | 5.22 | - | - | |||||||||||||||
Jul-12 | 990,949 | 150,651 | - | 840,297 | 4.35 | 840,297 | 15-Jan | |||||||||||||||
Feb-13 | 55,556 | - | - | 55,556 | 7.5 | 55,556 | 15-Oct | |||||||||||||||
April 2010-2014 | 12,889 | 8,889 | 4,000 | - | 0.00075 | 8,889 | ||||||||||||||||
Aug-13 | 1,147,471 | - | 1,110,706 | 36,765 | 3.75 | 36,765 | 16-Aug | |||||||||||||||
Aug-13 | 29,000 | - | - | 29,000 | 0.525 | 29,000 | 16-Aug | |||||||||||||||
Jun-14 | 2,800,000 | - | - | 2,800,000 | 5.22 | 2,800,000 | 17-Jun | |||||||||||||||
Jun-14 | 84,000 | - | - | 84,000 | 4.5 | 84,000 | 17-Jun | |||||||||||||||
10,388,628 | 1,277,921 | 2,974,423 | 6,136,284 | 6,136,284 | ||||||||||||||||||
(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 shall vest over the course of the trials as follows: 33,333 upon enrollment of 1/3 of the patients; an additional 33,333 upon enrollment of all the patients and the final 33,333 upon completion of the study. | ||||||||||||||||||||||
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. As of December 31, 2014, related compensation expense in the amount of $50 was recorded as general and administrative expense. | ||||||||||||||||||||||
A summary of the Company's stock awards activity related to shares issued to service providers and related information is as follows: | ||||||||||||||||||||||
Year ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Amount of | Weighted | Amount of | Weighted | |||||||||||||||||||
shares | average | shares | average | |||||||||||||||||||
issue | issue | |||||||||||||||||||||
price | price | |||||||||||||||||||||
$ | $ | |||||||||||||||||||||
Outstanding at beginning of period | 840,367 | 4.02 | 786,387 | 4.05 | ||||||||||||||||||
Issued | 23,419 | 4.91 | 53,980 | 3.6 | ||||||||||||||||||
Outstanding at end of period | 863,786 | 4.07 | 840,367 | 4.02 | ||||||||||||||||||
Stock-based compensation and issuance of shares recorded by the Company in respect of shares and warrants granted to service providers amounted to $198 and $197 for the years ended December 31, 2014 and 2013, respectively. | ||||||||||||||||||||||
The total stock-based compensation expense, related to shares, options and warrants granted to employees and service providers was comprised, at each period, as follows: | ||||||||||||||||||||||
Year ended | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Research and development | 176 | 105 | ||||||||||||||||||||
General and administrative | 1,046 | 767 | ||||||||||||||||||||
Total stock-based compensation expense | 1,222 | 872 | ||||||||||||||||||||
RESEARCH_AND_DEVELOPMENT_NET
RESEARCH AND DEVELOPMENT, NET | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Research and Development [Abstract] | ||||||
Research, Development, and Computer Software Disclosure [Text Block] | NOTE 9 - RESEARCH AND DEVELOPMENT, NET | |||||
Year ended | ||||||
December 31, | ||||||
2014 | 2013 | |||||
U.S. $ in thousands | ||||||
Research and development | 6,116 | 4,030 | ||||
Less : Participation by the Israeli Office of the Chief Scientist | -1,344 | -1,113 | ||||
4,772 | 2,917 | |||||
TAXES_ON_INCOME
TAXES ON INCOME | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Income Tax Disclosure [Text Block] | NOTE 10 - TAXES ON INCOME | |||||||
A. | Tax rates applicable to the income of the Israeli subsidiary: | |||||||
BCT is subject to a tax rate of 25% in 2013 and 26.5% in 2014 and thereafter, in accordance with the Tax Burden Distribution Law of 2011 as well as subsequent legislation by the Israeli Knesset (Israeli parliament) in August 2013. | ||||||||
Such tax rate changes have no significant impact on the Company's financial statements. | ||||||||
The Company is subject to a blended US tax rate (Federal as well as State Corporate Tax) of 35% in 2013, 2014 and thereafter. | ||||||||
B. | Deferred income taxes: | |||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets are as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
U.S. $ in thousands | ||||||||
Operating loss carryforward | 29,222 | 25,156 | ||||||
Net deferred tax asset before valuation allowance | 10,994 | 8,961 | ||||||
Valuation allowance | -10,994 | -8,961 | ||||||
Net deferred tax asset | - | - | ||||||
As of December 31, 2014, the Company has provided valuation allowances of $10,994 in respect of deferred tax assets resulting from tax loss carryforward and other temporary differences. Management currently believes that because the Company has a history of losses, it is more likely than not that the deferred tax regarding the loss carryforward and other temporary differences will not be realized in the foreseeable future. | ||||||||
C. | Available carryforward tax losses: | |||||||
As of December 31, 2014, the Company has an accumulated tax loss carryforward of approximately $29,222. Carryforward tax losses in Israel are of unlimited duration and carryforward tax losses in the U.S. can be carried forward and offset against taxable income in the future for a period of 20 years. Utilization of U.S. net operating losses may be subject to substantial annual limitations due to the "change in ownership" provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization. | ||||||||
D. | Loss from continuing operations, before taxes on income, consists of the following: | |||||||
Year ended December 31, | ||||||||
2014 | 2013 | |||||||
U.S. $ in thousands | ||||||||
United States | -3,789 | -1,205 | ||||||
Israel | -5,457 | -3,694 | ||||||
-9,246 | -4,899 | |||||||
E. | Due to the Company’s cumulative losses, the effect of ASC 740 as codified from ASC 740-10 (formerly FIN 48) is not material. | |||||||
TRANSACTIONS_WITH_RELATED_PART
TRANSACTIONS WITH RELATED PARTIES | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions Disclosure [Text Block] | NOTE 11 - TRANSACTIONS WITH RELATED PARTIES | ||||||||
Year ended December 31, | |||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Fees and related benefits and compensation expenses in respect of options granted to a member of the Board who is a related party | 164 | 248 | |||||||
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended | ||
Dec. 31, 2014 | |||
Subsequent Events [Abstract] | |||
Subsequent Events [Text Block] | NOTE 12 - SUBSEQUENT EVENTS | ||
A. | On January 6, 2015, the remaining 2013 Warrants that did not participate in the redemption and 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. | ||
B. | Pursuant to a Warrant Exercise Agreement, dated January 8, 2015, holders of the Company warrants to purchase an aggregate of approximately 2.5 million shares of the Company’s Common Stock at an exercise price of $5.22 per share, issued in a private placement to accredited investors that was consummated on June 13, 2014, 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 Company received an aggregate of approximately $13 million in proceeds from the exercises of the 2014 Warrants. 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. | ||
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Basis of Accounting, Policy [Policy Text Block] | A. | Basis of presentation: | ||
The consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) applied on a consistent basis. | ||||
Use of Estimates, Policy [Policy Text Block] | B. | Use of estimates: | ||
The preparation of financial statements in conformity with GAAP 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. | ||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | C. | Financial statements in U.S. dollars: | ||
The functional currency of the Company is the U.S dollar ("dollar") since the dollar is the currency of the primary economic environment in which the Company has operated and expects to continue to operate in the foreseeable future. Part of the transactions of BCT is recorded in new Israeli shekels ("NIS"); however, a substantial portion of BCT’s costs are incurred in dollars or linked to the dollar. Accordingly, management has designated the dollar as the currency of BCT’s primary economic environment and thus it is their functional and reporting currency. | ||||
Transactions and balances denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to dollars in accordance with the provisions of ASC 830-10 (formerly Statement of Financial Accounting Standard 52), "Foreign Currency Translation". All transaction gains and losses from re-measurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statement of operations as financial income or expenses, as appropriate. | ||||
Consolidation, Policy [Policy Text Block] | D. | Principles of consolidation: | ||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, BCT and Brainstorm UK. Intercompany balances and transactions have been eliminated upon consolidation. | ||||
Cash and Cash Equivalents, Policy [Policy Text Block] | E. | Cash and cash equivalents: | ||
Cash equivalents are short-term highly liquid investments that are readily convertible to cash with maturities of three months or less as of the date acquired. | ||||
Property, Plant and Equipment, Policy [Policy Text Block] | F. | Property and equipment: | ||
Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated by the straight-line method over the estimated useful lives of the assets. | ||||
The annual depreciation rates are as follows: | ||||
% | ||||
Office furniture and equipment | 7 | |||
Computer software and electronic equipment | 33 | |||
Laboratory equipment | 15 | |||
Leasehold improvements | Over the shorter of the lease term (including the option) or useful life | |||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ||||
G. | Impairment of long-lived assets: | |||
The Company’s long-lived assets are reviewed for impairment in accordance with ASC 360-10 (formerly Statement of Financial Accounting Standard 144), "Accounting for the Impairment or Disposal of Long-Lived Assets,” whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. During 2014 and 2013, no impairment losses were identified. | ||||
Severance Pay Policy [Policy Text Block] | H. | Accrued post-employment benefit | ||
The Company entered into an employment agreement with its CEO which contains provisions for severance pay under certain circumstances. If the CEO is terminated by the Company without Cause (as defined in the agreement) or if the CEO terminates employment with Good Reason (as defined in the agreement), the CEO will be entitled to (i) his base salary for between 4 and 9 months (depending on length of employment before termination), (ii) his bonus compensation that he would have been entitled to during this payment period, (iii) the immediate vesting of any options that would have vested within the 6 month period following termination and (iv) health insurance benefits during the payment period. If the CEO's employment is terminated in connection with a Change of Control (as defined in the agreement), the CEO will be entitled to (i) his base salary for 12 months, (ii) his target bonus compensation for the year in which the Change of Control occurred and (iii) immediate vesting of all options granted to the CEO. In accordance with ASC 712, no severance liability has been recorded on the Company's balance sheet with respect to this employment agreement as of December 31, 2014. | ||||
The majority of the Company's employees in Israel have agreed to Section 14 of Israel's Severance Pay Law, 5723-1963 (“Section 14”). Pursuant to Section 14, those of the Company's employees that are covered by this section are entitled only to an amount of severance pay equal to monthly deposits, at a rate of 8.33% of their monthly salary, made on their behalf by the Company. Payments in accordance with Section 14 release the Company from any future severance liabilities in respect of those employees. Neither severance pay liability nor severance pay funds under Section 14 for such employees is recorded on the Company's balance sheet. | ||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | I. | Fair value of financial instruments: | ||
The carrying values of cash and cash equivalents, accounts receivable and prepaid expenses, trade payables and other accounts payable approximate their fair value due to the short-term maturity of these instruments. | ||||
The Company utilizes the Black Scholes Merton formula to measure the fair value of the warrants issued. The assumptions included in the Black-Scholes model were: (i) the market price of the Company's shares; (ii) the exercise price of the warrant; (iii) risk-free interest; (iv) term available to exercise or redeem the security and (v) the volatility of the shares during the relevant term. The Company determines the volatility of its shares using daily historical quotes of the shares. The risk free interest rate is determined as the interest rate on governmental bonds with maturity commensurate with the term of the warrant. | ||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | J. | Accounting for stock-based compensation: | ||
In accordance with ASC 718-10 (formerly Statement of Financial Accounting Standards 123 (Revised 2004)) the Company estimates the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company's consolidated statement of operations. | ||||
The Company recognizes compensation expense for the value of non-employee awards, which have graded vesting, based on the straight-line method over the requisite service period of each award. | ||||
The Company recognizes compensation expense for the value of employee awards that have graded vesting, based on the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. | ||||
The Company estimates the fair value of restricted shares based on the market price of the shares at the grant date and estimates the fair value of stock options granted using a Black-Scholes options pricing model. The option-pricing model requires a number of assumptions, of which the most significant are, expected stock price volatility and the expected option term (the time from the grant date until the options are exercised or expire). Expected volatility was calculated based upon actual historical stock price movements over the period, equal to the expected option term. The Company has historically not paid dividends and has no foreseeable plans to issue dividends. The risk-free interest rate is based on the yield from U.S. Treasury zero-coupon bonds with an equivalent term. | ||||
Earnings Per Share, Policy [Policy Text Block] | K. | Basic and diluted net loss per share: | ||
Basic net loss per share is computed based on the weighted average number of shares outstanding during each year. Diluted net loss per share is computed based on the weighted average number of shares outstanding during each year, plus the dilutive potential of the Common Stock considered outstanding during the year, in accordance with ASC 260-10 (formerly Statement of Financial Accounting Standard 128), "Earnings per Share". | ||||
All outstanding stock options and warrants have been excluded from the calculation of the diluted loss per share for the year ended December 31, 2014 and December 31, 2013, since all such securities have an anti-dilutive effect. | ||||
Research and Development Expense, Policy [Policy Text Block] | L. | Research and development expenses, net: | ||
Research and development expenses, are charged to the statement of operations as incurred. | ||||
Royalty-bearing grants from the Government of Israel for funding approved 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. Such grants are included as a deduction of research and development costs since at the time received it is not probable the Company will generate sales from these projects and pay the royalties resulting from such sales. | ||||
Income Tax, Policy [Policy Text Block] | M. | Income taxes: | ||
The Company accounts for income taxes in accordance with ASC 740-10 (formerly Statement of Financial Accounting Standard 109), "Accounting for Income Taxes." This Statement requires the use of the liability method of accounting for income taxes, whereby deferred tax asset and liability account balances are determined based on the differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and BCT provide a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. | ||||
Reverse Stock Split Policy [Policy Text Block] | N. Reverse Stock Split | |||
On September 15, 2014, the Company completed the reverse stock split, whereby each fifteen shares of Common Stock of the Company were combined and were reclassified into one share of Common Stock of the Company, and the number of issued and outstanding shares of Common Stock of the Company was proportionally reduced, in both cases without any change to the authorized number of shares of Common Stock or in the par value of such shares. | ||||
Upon implementation of the recapitalization described above, 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. | ||||
New Accounting Pronouncements, Policy [Policy Text Block] | O. 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 2017; 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 the expected impact of the new standard on its consolidated financial statements. | ||||
In June 2014, the Financial Accounting Standards Board issued a new standard which eliminates the concept of a development-stage entity from U.S. GAAP as well as the related requirement to present inception-to-date information. Following the issuance of this standard, inception-to-date information is no longer presented in the Company's financial statements. | ||||
In August 2014, the Financial Accounting Standards Board issued a new standard which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. Further, an entity must provide certain disclosures if there is a substantial doubt about the entity’s ability to continue as a going concern. The new standard did not impact the outcome of the Company's assessment with respect to its ability to continue as a going concern. | ||||
SIGNIFICANT_ACCOUNTING_POLICIE2
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Schedule Of Depreciation Rates For Property Plant And Equipment [Table Text Block] | The annual depreciation rates are as follows: | |||
% | ||||
Office furniture and equipment | 7 | |||
Computer software and electronic equipment | 33 | |||
Laboratory equipment | 15 | |||
Leasehold improvements | Over the shorter of the lease term (including the option) or useful life | |||
ACCOUNTS_RECEIVABLE_Tables
ACCOUNTS RECEIVABLE (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Schedule of Other Current Assets [Table Text Block] | December 31, | ||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Government institutions | 43 | 60 | |||||||
Grants receivable from the CSO | 962 | 850 | |||||||
1,005 | 910 | ||||||||
PROPERTY_AND_EQUIPMENT_Tables
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | December 31, | ||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Cost: | |||||||||
Office furniture and equipment | 73 | 18 | |||||||
Computer software and electronic equipment | 159 | 149 | |||||||
Laboratory equipment | 576 | 482 | |||||||
Leasehold improvements | 716 | 716 | |||||||
1,524 | 1,365 | ||||||||
Accumulated depreciation: | |||||||||
Office furniture and equipment | 8 | 5 | |||||||
Computer software and electronic equipment | 132 | 116 | |||||||
Laboratory equipment | 404 | 350 | |||||||
Leasehold improvements | 667 | 636 | |||||||
1,211 | 1,107 | ||||||||
Depreciated cost | 313 | 258 | |||||||
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Aggregate minimum rental commitments under non-cancelable leases as of December 31, 2014 are as follows: | |||||||
Period ending December 31, 2014 | Facilities | Vehicles | Total | |||||
2015 | 172 | 9 | 181 | |||||
2016 | 103 | - | 103 | |||||
2017 | 54 | - | 54 | |||||
2018 | 55 | 55 | ||||||
2019 | 57 | 57 | ||||||
441 | 9 | 450 | ||||||
STOCK_CAPITAL_Tables
STOCK CAPITAL (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
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 year ended | For the year ended | |||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||
Amount of | Weighted | Aggregate | Amount of | Weighted | Aggregate | |||||||||||||||||
options | average | intrinsic | options | average | intrinsic | |||||||||||||||||
exercise | value | exercise | value | |||||||||||||||||||
price | price | |||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||
Outstanding at beginning of period | 412,388 | 2.5576 | 316,777 | 2.7045 | ||||||||||||||||||
Granted | 504,000 | 3.6766 | 381,777 | 3.738 | ||||||||||||||||||
Exercised | -66,500 | 2.125 | -1,333 | 1.005 | ||||||||||||||||||
Cancelled | -57,778 | 0.5198 | -284,833 | 4.3095 | ||||||||||||||||||
Outstanding at end of period | 792,110 | 3.4545 | 1,034,072 | 412,388 | 2.5575 | 58,765 | ||||||||||||||||
Vested and expected-to-vest at end of period | 331,500 | 2.6994 | 683,088 | 335,795 | 2.568 | 44,325 | ||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | The options outstanding as of December 31, 2014 and December 31, 2013, have been separated into exercise prices, as follows: | |||||||||||||||||||||
Weighted average | ||||||||||||||||||||||
Options | Options | remaining | ||||||||||||||||||||
outstanding | outstanding | contractual | ||||||||||||||||||||
as of | as of | Life - Years | Options exercisable as of | |||||||||||||||||||
Exercise price | December 31, | December 31, | As of December 31, | December 31, | ||||||||||||||||||
$ | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | ||||||||||||||||
0.0075 | 44,444 | - | 7.29 | - | 40,741 | - | ||||||||||||||||
0.75 | - | 70,666 | - | 9.84 | - | 26,500 | ||||||||||||||||
1.005 | 6,445 | 6,445 | 5.5 | 4.5 | 6,445 | 6,445 | ||||||||||||||||
2.25 | 173,667 | 160,333 | 6.86 | 5.85 | 163,444 | 160,333 | ||||||||||||||||
2.7 | 105,333 | 130,666 | 8.57 | 7.96 | 42,666 | 94,222 | ||||||||||||||||
3 | 33,833 | - | 7.51 | - | 33,833 | - | ||||||||||||||||
3.9 | 23,666 | 19,000 | 8.59 | 7.59 | 23,666 | 19,000 | ||||||||||||||||
4.5 | - | 380,000 | - | 9.44 | - | 0 | ||||||||||||||||
4.8 | 2,000 | 2,000 | 6.12 | 5.12 | 2,000 | 2,000 | ||||||||||||||||
5.85 | 6,000 | 6,000 | 3.5 | 2.5 | 6,000 | 6,000 | ||||||||||||||||
6 | 6,000 | 6,000 | 2.47 | 1.47 | 6,000 | 6,000 | ||||||||||||||||
7.05 | 6,000 | 6,000 | 3.22 | 2.22 | 6,000 | 6,000 | ||||||||||||||||
11.25 | 5,000 | 5,000 | 1.16 | 0.16 | 5,000 | 5,000 | ||||||||||||||||
412,388 | 792,110 | 7.236 | 8.183 | 335,795 | 331,500 | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair value of the options is estimated at the date of grant using Black-Scholes options pricing model with the following assumptions used in the calculation: | |||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Expected volatility | 122%-123% | 121% | ||||||||||||||||||||
Risk-free interest | 1.49%-1.96% | 0.86% | ||||||||||||||||||||
Dividend yield | 0% | 0% | ||||||||||||||||||||
Expected life of up to (years) | 5.76-6.05 | 5.4 | ||||||||||||||||||||
Schedule Of Warrants Issued To Investors Service Providers [Table Text Block] | ||||||||||||||||||||||
Issuance date | Number of | Exercised | Forfeited | Outstanding | Exercise | Warrants | Exercisable | |||||||||||||||
warrants | Price $ | exercisable | through | |||||||||||||||||||
issued | ||||||||||||||||||||||
Nov-Dec 2004 | 973,390 | 959,734 | 13,656 | - | 0.00075 - 0.15 | - | - | |||||||||||||||
Feb-Dec 2005 | 203,898 | 32,011 | 169,887 | 2,000 | 2.25 - 37.5 | 2,000 | Jun - Dec 2015 | |||||||||||||||
Feb-Dec 2006 | 112,424 | 48,513 | 31,911 | 32,000 | 0.075 – 22.5 | 32,000 | Feb - May 2016 | |||||||||||||||
Mar-Nov 2007 | 180,220 | - | 66,887 | 113,333 | 2.25 - 7.05 | 113,333 | Mar 2017 – Oct 2017 | |||||||||||||||
Nov-08 | 6,667 | - | - | 6,667 | 2.25 | 6,667 | 18-Sep | |||||||||||||||
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 | 17-Nov | |||||||||||||||
Jan-10 | 83,333 | - | 83,333 | - | 7.5 | - | - | |||||||||||||||
Feb-10 | 8,333 | 8,333 | - | - | 0.15 | - | - | |||||||||||||||
Feb-10 | 200,000 | - | 200,000 | - | 7.5 | - | - | |||||||||||||||
Feb-10 | 100,000 | - | - | 100,000 | 0.015 | 100,000 | 20-Feb | |||||||||||||||
Feb-11 | 42,735 | - | 42,735 | - | 5.85 | - | - | |||||||||||||||
Feb-11 | 427,167 | 63,122 | 364,044 | - | 4.2 | - | - | |||||||||||||||
Feb-11 | 854,333 | - | 854,333 | - | 7.5 | - | - | |||||||||||||||
Jul-12 | 32,931 | - | 32,931 | - | 5.22 | - | - | |||||||||||||||
Jul-12 | 990,949 | 150,651 | - | 840,297 | 4.35 | 840,297 | 15-Jan | |||||||||||||||
Feb-13 | 55,556 | - | - | 55,556 | 7.5 | 55,556 | 15-Oct | |||||||||||||||
April 2010-2014 | 12,889 | 8,889 | 4,000 | - | 0.00075 | 8,889 | ||||||||||||||||
Aug-13 | 1,147,471 | - | 1,110,706 | 36,765 | 3.75 | 36,765 | 16-Aug | |||||||||||||||
Aug-13 | 29,000 | - | - | 29,000 | 0.525 | 29,000 | 16-Aug | |||||||||||||||
Jun-14 | 2,800,000 | - | - | 2,800,000 | 5.22 | 2,800,000 | 17-Jun | |||||||||||||||
Jun-14 | 84,000 | - | - | 84,000 | 4.5 | 84,000 | 17-Jun | |||||||||||||||
10,388,628 | 1,277,921 | 2,974,423 | 6,136,284 | 6,136,284 | ||||||||||||||||||
Schedule Stock Awards Activity Related To Service Providers [Table Text Block] | A summary of the Company's stock awards activity related to shares issued to service providers and related information is as follows: | |||||||||||||||||||||
Year ended | Year ended | |||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Amount of | Weighted | Amount of | Weighted | |||||||||||||||||||
shares | average | shares | average | |||||||||||||||||||
issue | issue | |||||||||||||||||||||
price | price | |||||||||||||||||||||
$ | $ | |||||||||||||||||||||
Outstanding at beginning of period | 840,367 | 4.02 | 786,387 | 4.05 | ||||||||||||||||||
Issued | 23,419 | 4.91 | 53,980 | 3.6 | ||||||||||||||||||
Outstanding at end of period | 863,786 | 4.07 | 840,367 | 4.02 | ||||||||||||||||||
Stock Based Compensation Expense [Table Text Block] | The total stock-based compensation expense, related to shares, options and warrants granted to employees and service providers was comprised, at each period, as follows: | |||||||||||||||||||||
Year ended | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Research and development | 176 | 105 | ||||||||||||||||||||
General and administrative | 1,046 | 767 | ||||||||||||||||||||
Total stock-based compensation expense | 1,222 | 872 | ||||||||||||||||||||
RESEARCH_AND_DEVELOPMENT_NET_T
RESEARCH AND DEVELOPMENT, NET (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Research and Development [Abstract] | ||||||
Research and Development Disclosure [Table Text Block] | Year ended | |||||
December 31, | ||||||
2014 | 2013 | |||||
U.S. $ in thousands | ||||||
Research and development | 6,116 | 4,030 | ||||
Less : Participation by the Israeli Office of the Chief Scientist | -1,344 | -1,113 | ||||
4,772 | 2,917 | |||||
TAXES_ON_INCOME_Tables
TAXES ON INCOME (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company's deferred tax assets are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
U.S. $ in thousands | ||||||||
Operating loss carryforward | 29,222 | 25,156 | ||||||
Net deferred tax asset before valuation allowance | 10,994 | 8,961 | ||||||
Valuation allowance | -10,994 | -8,961 | ||||||
Net deferred tax asset | - | - | ||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Loss from continuing operations, before taxes on income, consists of the following: | |||||||
Year ended December 31, | ||||||||
2014 | 2013 | |||||||
U.S. $ in thousands | ||||||||
United States | -3,789 | -1,205 | ||||||
Israel | -5,457 | -3,694 | ||||||
-9,246 | -4,899 | |||||||
TRANSACTIONS_WITH_RELATED_PART1
TRANSACTIONS WITH RELATED PARTIES (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Schedule of Related Party Transactions [Table Text Block] | Year ended December 31, | ||||||||
2014 | 2013 | ||||||||
U.S. $ in thousands | |||||||||
Fees and related benefits and compensation expenses in respect of options granted to a member of the Board who is a related party | 164 | 248 | |||||||
GENERAL_Details_Textual
GENERAL (Details Textual) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 15, 2014 | Jul. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 |
General And Going Concern [Line Items] | ||||
Stockholders Equity, Reverse Stock Split | 1-for-15 | |||
Net Income (Loss) Attributable To Parent | ($9,246) | ($4,899) | ||
Amount raised in Public offering | 16,000 | 2,497 | ||
Retained Earnings (Accumulated Deficit) | ($61,653) | ($52,407) |
SIGNIFICANT_ACCOUNTING_POLICIE3
SIGNIFICANT ACCOUNTING POLICIES (Details) | 12 Months Ended | |
Dec. 31, 2014 | ||
Office furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant and Equipment Depreciation Rates | 7.00% | |
Computer software and electronic equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant and Equipment Depreciation Rates | 33.00% | |
Laboratory Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant and Equipment Depreciation Rates | 15.00% | |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant and Equipment Depreciation Rates | [1] | |
[1] | Over the shorter of the lease term (including the option) or useful life |
SIGNIFICANT_ACCOUNTING_POLICIE4
SIGNIFICANT ACCOUNTING POLICIES (Details Textual) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Line Items] | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 8.33% |
RESEARCH_AND_LICENSE_AGREEMENT1
RESEARCH AND LICENSE AGREEMENT (Details Textual) | 12 Months Ended |
Dec. 31, 2014 | |
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 |
CONSULTING_AGREEMENTS_Details_
CONSULTING AGREEMENTS (Details Textual) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2004 | Dec. 31, 2012 | Mar. 31, 2014 | Sep. 30, 2013 |
Consulting Agreement [Line Items] | ||||||
Research and Development Expense | $4,772 | $2,917 | ||||
Eldad Melamed and Daniel Offen Consultants [Member] | ||||||
Consulting Agreement [Line Items] | ||||||
Consulting Agreement Date | 8-Jul-04 | |||||
Monthly Payment Of Consulting Fees | 6 | |||||
Research and Development Expense | 54 | |||||
Stock Issued During Period, Shares, Issued For Services | 14,400 | |||||
Consultant Charges Payable | 111 | |||||
Prof.Daniel Offen Consultant [Member] | ||||||
Consulting Agreement [Line Items] | ||||||
Monthly Payment Of Consulting Fees | 6 | |||||
Monthly Payment Of Consulting Fees, Cash | 3 | |||||
Monthly Payment Of Consulting Fees, Stock | $3 | |||||
Consultants [Member] | ||||||
Consulting Agreement [Line Items] | ||||||
Stock Issued During Period, Shares, Issued For Services | 6,000 | 30,000 |
ACCOUNTS_RECEIVABLE_Details
ACCOUNTS RECEIVABLE (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Government institutions | $43 | $60 |
Grants receivable from the CSO | 962 | 850 |
Nontrade Receivables, Current | $1,005 | $910 |
PROPERTY_AND_EQUIPMENT_Details
PROPERTY AND EQUIPMENT (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment: | ||
Cost | $1,524 | $1,365 |
Accumulated depreciation | 1,211 | 1,107 |
Depreciated cost | 313 | 258 |
Office furniture and equipment [Member] | ||
Property, Plant and Equipment: | ||
Cost | 73 | 18 |
Accumulated depreciation | 8 | 5 |
Computer software and electronic equipment [Member] | ||
Property, Plant and Equipment: | ||
Cost | 159 | 149 |
Accumulated depreciation | 132 | 116 |
Laboratory Equipment [Member] | ||
Property, Plant and Equipment: | ||
Cost | 576 | 482 |
Accumulated depreciation | 404 | 350 |
Land Improvements [Member] | ||
Property, Plant and Equipment: | ||
Cost | 716 | 716 |
Accumulated depreciation | $667 | $636 |
PROPERTY_AND_EQUIPMENT_Details1
PROPERTY AND EQUIPMENT (Details Textual) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $106 | $97 |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Period ending December 31, 2014 | |
2015 | $181 |
2016 | 103 |
2017 | 54 |
2018 | 55 |
2019 | 57 |
Operating Leases Future Minimum Payments Due | 450 |
Facilities [Member] | |
Period ending December 31, 2014 | |
2015 | 172 |
2016 | 103 |
2017 | 54 |
2018 | 55 |
2019 | 57 |
Operating Leases Future Minimum Payments Due | 441 |
Vehicles [Member] | |
Period ending December 31, 2014 | |
2015 | 9 |
2016 | 0 |
2017 | 0 |
Operating Leases Future Minimum Payments Due | $9 |
COMMITMENTS_AND_CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Textual) | 12 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2011 | |
USD ($) | Subsequent Event [Member] | Minimum [Member] | Maximum [Member] | Facilities [Member] | Facilities [Member] | Lease Agreement [Member] | Lease Agreement [Member] | Lease Agreement [Member] | Hadasit Medical Research Services and Development Ltd Clinical Agreement Revised [Member] | Hadasit Medical Research Services and Development Ltd Clinical Agreement Revised [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ILS | USD ($) | USD ($) | ||||
sqm | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Lease Agreement Entry Date | Oct-14 | Nov-12 | Nov-12 | ||||||||
Lease Agreement Term | 60 months | 60 months | |||||||||
Lease Rental Frequency Of Payments | monthly | monthly | |||||||||
Percentage Of Royalty Payments Agreed For Grants | 3.00% | 3.50% | |||||||||
Grants Underlying Basis | The grant is linked to the exchange rate of the dollar and bears interest of Libor per annum. | ||||||||||
Amounts Of Grants Received | $1,169,000 | $159,000 | |||||||||
Clinical Trials Revised Agreement Date | 1-Jun-11 | ||||||||||
Payment Agreed Per Patient | 32,000 | ||||||||||
Aggregate Payment Agreed | 773,000 | ||||||||||
Monthly Rental Payments Agreed | 4,000 | ||||||||||
Operating Leases, Rent Expense | $150,000 | $129,000 | $11,000 | 40,000 | $31,000 | ||||||
Area of Land | 220 | ||||||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 63 months | ||||||||||
Lease Agreement Termination Description | option to terminate the agreement with 6 month pre-notice, after 36 months. |
STOCK_CAPITAL_Details
STOCK CAPITAL (Details) (USD $) | 60 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2009 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Amount of options, Granted | 53,333 | ||
Amount of options, Outstanding at end of period | 792,110 | 412,388 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Amount of options, Outstanding at beginning of period | 412,388 | 316,777 | |
Amount of options, Granted | 504,000 | 381,777 | |
Amount of options, Exercised | -66,500 | -1,333 | |
Amount of options, Cancelled | -57,778 | -284,833 | |
Amount of options, Outstanding at end of period | 792,110 | 412,388 | |
Amount of options, Vested and expected-to-vest at end of period | 331,500 | 335,795 | |
Weighted average exercise price, Outstanding at beginning of period (in dollars per share) | $2.56 | $2.70 | |
Weighted average exercise price, Granted (in dollars per share) | $3.68 | $3.74 | |
Weighted average exercise price, Exercised (in dollars per share) | $2.13 | $1.00 | |
Weighted Average exercise Price, Cancelled (in dollars per share) | $0.52 | $4.31 | |
Weighted average exercise price, Outstanding at end of period (in dollars per share) | $3.45 | $2.56 | |
Weighted average exercise price, Vested and expected-to-vest at end of period (in dollars per share) | $2.70 | $2.57 | |
Aggregate intrinsic value, Outstanding at end of period (in dollars) | $1,034,072 | $58,765 | |
Aggregate intrinsic value, Vested and expected-to-vest at end of period (in dollars) | $683,088 | $44,325 |
STOCK_CAPITAL_Details_1
STOCK CAPITAL (Details 1) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding at end of period | 792,110 | 412,388 |
Weighted average remaining contractual Life Years | 8 years 2 months 6 days | 7 years 2 months 25 days |
Options exercisable | 331,500 | 335,795 |
Exercise Price 0.0075 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 0.0075 | |
Options outstanding at end of period | 0 | 44,444 |
Weighted average remaining contractual Life Years | 0 years | 7 years 3 months 14 days |
Options exercisable | 0 | 40,741 |
Exercise Price 0.7500 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 0.75 | |
Options outstanding at end of period | 70,666 | 0 |
Weighted average remaining contractual Life Years | 9 years 10 months 2 days | 0 years |
Options exercisable | 26,500 | 0 |
Exercise Price 1.005 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 1.005 | |
Options outstanding at end of period | 6,445 | 6,445 |
Weighted average remaining contractual Life Years | 4 years 6 months | 5 years 6 months |
Options exercisable | 6,445 | 6,445 |
Exercise Price 2.250 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 2.25 | |
Options outstanding at end of period | 160,333 | 173,667 |
Weighted average remaining contractual Life Years | 5 years 10 months 6 days | 6 years 10 months 10 days |
Options exercisable | 160,333 | 163,444 |
Exercise Price 2.700 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 2.7 | |
Options outstanding at end of period | 130,666 | 105,333 |
Weighted average remaining contractual Life Years | 7 years 11 months 16 days | 8 years 6 months 25 days |
Options exercisable | 94,222 | 42,666 |
Exercise Price 3.000 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 3 | |
Options outstanding at end of period | 0 | 33,833 |
Weighted average remaining contractual Life Years | 0 years | 7 years 6 months 4 days |
Options exercisable | 0 | 33,833 |
Exercise Price 3.900 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 3.9 | |
Options outstanding at end of period | 19,000 | 23,666 |
Weighted average remaining contractual Life Years | 7 years 7 months 2 days | 8 years 7 months 2 days |
Options exercisable | 19,000 | 23,666 |
Exercise Price 4.500 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 4.5 | |
Options outstanding at end of period | 380,000 | 0 |
Weighted average remaining contractual Life Years | 9 years 5 months 8 days | 0 years |
Options exercisable | 0 | 0 |
Exercise Price 4.800 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 4.8 | |
Options outstanding at end of period | 2,000 | 2,000 |
Weighted average remaining contractual Life Years | 5 years 1 month 13 days | 6 years 1 month 13 days |
Options exercisable | 2,000 | 2,000 |
Exercise Price 5.850 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 5.85 | |
Options outstanding at end of period | 6,000 | 6,000 |
Weighted average remaining contractual Life Years | 2 years 6 months | 3 years 6 months |
Options exercisable | 6,000 | 6,000 |
Exercise Price 6.000 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 6 | |
Options outstanding at end of period | 6,000 | 6,000 |
Weighted average remaining contractual Life Years | 1 year 5 months 19 days | 2 years 5 months 19 days |
Options exercisable | 6,000 | 6,000 |
Exercise Price 7.050 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 7.05 | |
Options outstanding at end of period | 6,000 | 6,000 |
Weighted average remaining contractual Life Years | 2 years 2 months 19 days | 3 years 2 months 19 days |
Options exercisable | 6,000 | 6,000 |
Exercise Price 11.25 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise price (in dollars per share) | 11.25 | |
Options outstanding at end of period | 5,000 | 5,000 |
Weighted average remaining contractual Life Years | 1 month 28 days | 1 year 1 month 28 days |
Options exercisable | 5,000 | 5,000 |
STOCK_CAPITAL_Details_2
STOCK CAPITAL (Details 2) (Employee Stock Option [Member]) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 121.00% | |
Risk-free interest | 0.86% | |
Dividend yield | 0.00% | 0.00% |
Expected life of up to (years) | 5 years 4 months 24 days | |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 123.00% | |
Risk-free interest | 1.96% | |
Expected life of up to (years) | 6 years 18 days | |
Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 122.00% | |
Risk-free interest | 1.49% | |
Expected life of up to (years) | 5 years 9 months 4 days |
STOCK_CAPITAL_Details_3
STOCK CAPITAL (Details 3) (USD $) | 60 Months Ended | 12 Months Ended | |
Dec. 31, 2009 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 53,333 | ||
Exercise Price (in dollars per share) | $2.25 | ||
Warrants Exercisable | 331,500 | 335,795 | |
Warrant [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 10,388,628 | ||
Exercised | 1,277,921 | ||
Forfeited | 2,974,423 | ||
Outstanding | 6,136,284 | ||
Warrants Exercisable | 6,136,284 | ||
Warrant [Member] | 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 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 0.00075 | ||
Warrant [Member] | 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) | 0.15 | ||
Warrant [Member] | 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 | 169,887 | ||
Outstanding | 2,000 | ||
Warrants Exercisable | 2,000 | ||
Exercisable through | Jun - Dec 2015 | ||
Warrant [Member] | 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) | 2.25 | ||
Warrant [Member] | 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) | 37.5 | ||
Warrant [Member] | 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 | 31,911 | ||
Outstanding | 32,000 | ||
Warrants Exercisable | 32,000 | ||
Exercisable through | Feb - May 2016 | ||
Warrant [Member] | 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) | 0.075 | ||
Warrant [Member] | Issuance Date Feb - Dec 2006 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercise Price (in dollars per share) | 22.5 | ||
Warrant [Member] | Issuance Date Mar - Nov 2007 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 180,220 | ||
Exercised | 0 | ||
Forfeited | 66,887 | ||
Outstanding | 113,333 | ||
Warrants Exercisable | 113,333 | ||
Exercisable through | Mar 2017 – Oct 2017 | ||
Warrant [Member] | Issuance Date Mar - Nov 2007 [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercise Price (in dollars per share) | 2.25 | ||
Warrant [Member] | Issuance Date Mar - Nov 2007 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercise Price (in dollars per share) | 7.05 | ||
Warrant [Member] | 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) | 2.25 | ||
Warrants Exercisable | 6,667 | ||
Exercisable through | 18-Sep | ||
Warrant [Member] | 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 | ||
Warrant [Member] | 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) | 1.005 | ||
Warrant [Member] | 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) | 1.5 | ||
Warrant [Member] | 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 | 17-Nov | ||
Warrant [Member] | 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) | 3 | ||
Warrant [Member] | 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) | 4.35 | ||
Warrant [Member] | 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) | 7.5 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 0.15 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 7.5 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | Issuance Date Feb 2010 Two [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 100,000 | ||
Exercised | 0 | ||
Forfeited | 0 | ||
Outstanding | 100,000 | ||
Exercise Price (in dollars per share) | 0.015 | ||
Warrants Exercisable | 100,000 | ||
Exercisable through | 20-Feb | ||
Warrant [Member] | 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) | 5.85 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 4.2 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 7.5 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | 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) | 5.22 | ||
Warrants Exercisable | 0 | ||
Exercisable through | - | ||
Warrant [Member] | Issuance Date July 2012 One [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 990,949 | ||
Exercised | 150,651 | ||
Forfeited | 0 | ||
Outstanding | 840,297 | ||
Exercise Price (in dollars per share) | 4.35 | ||
Warrants Exercisable | 840,297 | ||
Exercisable through | 15-Jan | ||
Warrant [Member] | 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 | 0 | ||
Outstanding | 55,556 | ||
Exercise Price (in dollars per share) | 7.5 | ||
Warrants Exercisable | 55,556 | ||
Exercisable through | 15-Oct | ||
Warrant [Member] | 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) | 0.00075 | ||
Warrants Exercisable | 8,889 | ||
Warrant [Member] | 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 | 1,110,706 | ||
Outstanding | 36,765 | ||
Exercise Price (in dollars per share) | 3.75 | ||
Warrants Exercisable | 36,765 | ||
Exercisable through | 16-Aug | ||
Warrant [Member] | Issuance Date Aug 2013 One [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 29,000 | ||
Exercised | 0 | ||
Forfeited | 0 | ||
Outstanding | 29,000 | ||
Exercise Price (in dollars per share) | 0.525 | ||
Warrants Exercisable | 29,000 | ||
Exercisable through | 16-Aug | ||
Warrant [Member] | Issuance Date June 2014 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of warrants issued | 2,800,000 | ||
Exercised | 0 | ||
Forfeited | 0 | ||
Outstanding | 2,800,000 | ||
Exercise Price (in dollars per share) | 5.22 | ||
Warrants Exercisable | 2,800,000 | ||
Exercisable through | 17-Jun | ||
Warrant [Member] | 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 | 0 | ||
Outstanding | 84,000 | ||
Exercise Price (in dollars per share) | 4.5 | ||
Warrants Exercisable | 84,000 | ||
Exercisable through | 17-Jun |
STOCK_CAPITAL_Details_4
STOCK CAPITAL (Details 4) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Amount of shares, Outstanding at beginning of period | 840,367 | 786,387 |
Amount of shares, Issued | 23,419 | 53,980 |
Amount of shares, Outstanding at end of period | 863,786 | 840,367 |
Weighted average issue price, Outstanding at beginning of period | $4.02 | $4.05 |
Weighted average issue price, Issued | $4.91 | $3.60 |
Weighted average issue price, Outstanding at end of period | $4.07 | $4.02 |
STOCK_CAPITAL_Details_5
STOCK CAPITAL (Details 5) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expense | $1,222,000 | $872,000 |
Research and development [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expense | 176,000 | 105,000 |
General and administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation expense | $1,046,000 | $767,000 |
STOCK_CAPITAL_Details_Textual
STOCK CAPITAL (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 60 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||||||||||||
Jul. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2009 | Jul. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Jan. 31, 2013 | Sep. 30, 2013 | Jul. 17, 2012 | Aug. 31, 2014 | Apr. 30, 2013 | Dec. 31, 2011 | Nov. 30, 2014 | Aug. 31, 2012 | Dec. 31, 2010 | Oct. 31, 2014 | Apr. 30, 2012 | Jun. 30, 2011 | Apr. 30, 2010 | Apr. 13, 2014 | Jun. 30, 2014 | Aug. 31, 2011 | Mar. 28, 2005 | Dec. 31, 2012 | Dec. 31, 2008 | Feb. 28, 2013 | 27-May-14 | Jan. 08, 2015 | Dec. 31, 2010 | Feb. 28, 2010 | Jul. 31, 2007 | Apr. 25, 2014 | Aug. 31, 2013 | Jun. 13, 2014 | Jan. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | $9,554,000 | $3,576,000 | |||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $2.25 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 74,667 | ||||||||||||||||||||||||||||||||||||
Stock Option Expiration Term | 10 years | ||||||||||||||||||||||||||||||||||||
Amount Due To Investors | 20,000 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | 16,000,000 | 2,497,000 | |||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 30,000 | ||||||||||||||||||||||||||||||||||||
Warrants and Rights Outstanding | 123,000 | 655,000 | |||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 53,333 | ||||||||||||||||||||||||||||||||||||
Expenses Related To Shares and Options Granted To Service Providers | 198,000 | 197,000 | |||||||||||||||||||||||||||||||||||
Share-based Compensation, Total | 1,222,000 | 872,000 | |||||||||||||||||||||||||||||||||||
Legal Advisor [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | 50,000 | 44,500 | |||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 10,752 | 12,913 | |||||||||||||||||||||||||||||||||||
Consultants [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 6,000 | 14,400 | 30,000 | ||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
Premium On Warrant Exercise Price Compared To Issuance Price | 120.00% | ||||||||||||||||||||||||||||||||||||
Percentage Of Warrants Issued Out Of Shares Issued In Public Offering | 3.00% | ||||||||||||||||||||||||||||||||||||
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] | Scientific Advisory Board Four [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 50,667 | 50,667 | |||||||||||||||||||||||||||||||||||
Stock Based Compensation Will Be Recorded In General And Administrative Expenses | 236,000 | 175,000 | |||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | The shares will vest in 12 equal monthly portions until fully vested on the anniversary of grant. | ||||||||||||||||||||||||||||||||||||
Enrollment Of One Third Of Patients [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Number Of Warrants Vest Over Course Of Trails | 33,333 | ||||||||||||||||||||||||||||||||||||
Enrollment Of All Patients [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Number Of Warrants Vest Over Course Of Trails | 33,333 | ||||||||||||||||||||||||||||||||||||
Completion Of Study [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Number Of Warrants Vest Over Course Of Trails | 33,333 | ||||||||||||||||||||||||||||||||||||
Employee Stock Option [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 | 504,000 | 381,777 | |||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $3.68 | $3.74 | |||||||||||||||||||||||||||||||||||
Share-based Compensation, Total | 1,024 | 674 | |||||||||||||||||||||||||||||||||||
Director [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | 143,000 | 95,000 | 105,000 | 78,000 | |||||||||||||||||||||||||||||||||
Investment Options, Exercise Price | $2.25 | $0.75 | $2.25 | $2.25 | |||||||||||||||||||||||||||||||||
Number of options granted | 30,667 | ||||||||||||||||||||||||||||||||||||
Stock Option Expiration Term | 10 years | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 70,666 | 30,667 | 26,667 | ||||||||||||||||||||||||||||||||||
Hadasit [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 2,222 | 8,889 | 2,222 | 2,222 | 2,222 | ||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
Mr. Israeli [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Investment Options, Exercise Price | $0.00 | 44,444 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||||||||||||
Number of options granted | 11,111 | 11,111 | 11,111 | 11,111 | |||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 20,000 | ||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | options and warrants will vest and become exercisable in twelve (12) consecutive equal monthly amounts. | ||||||||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | 1,494,000 | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 380,000 | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $4.50 | ||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | shall vest and become exercisable as to 25% of the shares on the first anniversary of the grant date and the remainder of the shares shall vest and become exercisable in equal monthly installments on each of the 36 monthly anniversaries following the initial vesting date. | ||||||||||||||||||||||||||||||||||||
Mr. Schor [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | 15,000 | ||||||||||||||||||||||||||||||||||||
Mr. Schor [Member] | Restricted Stock [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 61,558 | ||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||||||||||||||||||
Eldad Melamed and Daniel Offen Consultants [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 14,400 | ||||||||||||||||||||||||||||||||||||
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 | 333,333 | 600,000 | 333,333 | ||||||||||||||||||||||||||||||||||
Shares Reserved For Issuance Under Stock Option Plan | 609,564 | ||||||||||||||||||||||||||||||||||||
Global Share Option Plan 2004 [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Based Compensation Recorded In General and Administrative Expenses | 55,000 | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 33,333 | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price | $2.70 | ||||||||||||||||||||||||||||||||||||
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] | |||||||||||||||||||||||||||||||||||||
Shares Reserved For Issuance Under Stock Option Plan | 600,000 | ||||||||||||||||||||||||||||||||||||
Related Party [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 83,333 | ||||||||||||||||||||||||||||||||||||
Leader Underwriters (1993) Ltd [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 15,517 | ||||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $4.35 | ||||||||||||||||||||||||||||||||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 30 months | ||||||||||||||||||||||||||||||||||||
Investor [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 | ||||||||||||||||||||||||||||||||||||
Warrants and Rights Outstanding | 123,000 | ||||||||||||||||||||||||||||||||||||
Stock Repurchased During Period, Value | 600,000 | ||||||||||||||||||||||||||||||||||||
Warrants Repurchase Price | $1.80 | ||||||||||||||||||||||||||||||||||||
Maxim Group LLC [Member] | Subsequent Event [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] | |||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Warrants | 829,000 | ||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 10,388,628 | ||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Weighted Average Volatility Rate | 140.00% | ||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,568,628 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | 2,496,000 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 8,408 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | 1,000 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 0 | ||||||||||||||||||||||||||||||||||||
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 | 399,999 | 2,777,777 | |||||||||||||||||||||||||||||||||||
Unit Sold Comprised Of One Share and One Warrant | 55,556 | ||||||||||||||||||||||||||||||||||||
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 | $7.50 | $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] | |||||||||||||||||||||||||||||||||||||
Common Stock, Value, Subscriptions | 5,000,000 | ||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Investor One [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 133,333 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | 500,000 | ||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 66,666 | ||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Investor Two [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 133,333 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | 500,000 | ||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 66,666 | ||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Investor Three [Member] | |||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 133,333 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | 500,000 | ||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 66,666 | ||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
Warrant Expiry Term | 18 | ||||||||||||||||||||||||||||||||||||
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 | 1,321,265 | 1,568,628 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of Common stock, net | 4,900,000 | 3,300,000 | |||||||||||||||||||||||||||||||||||
Common Stock Purchase Price | $2.55 | ||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 990,949 | 1,176,471 | |||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $0.53 | $4.35 | $3.75 | ||||||||||||||||||||||||||||||||||
Warrants To Purchase Common Stock Shares, Ratio | 0.75 | 0.75 | |||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | 5,700,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 30 months | 36 months | |||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
Warrants Issued To Purchase Of Common Stock | 2,800,000 | 2,500,000 | |||||||||||||||||||||||||||||||||||
Investment Warrants, Exercise Price | $5.22 | $5.22 | |||||||||||||||||||||||||||||||||||
Investment Options, Exercise Price | $4.41 | ||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $10,500,000 | ||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | $3.75 | ||||||||||||||||||||||||||||||||||||
Warrants Issued to Purchase of Common Stock, Percentage of Discount | 15.00% | ||||||||||||||||||||||||||||||||||||
Warrants Exercisable Terms Description | The Warrants became exercisable immediately upon closing of the private placement and have a term of three (3) years. | ||||||||||||||||||||||||||||||||||||
Investors Private Placement [Member] | Subsequent Event [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 | 6.5 |
RESEARCH_AND_DEVELOPMENT_NET_D
RESEARCH AND DEVELOPMENT, NET (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Research and Development Arrangement [Line Items] | ||
Research and development | $6,116 | $4,030 |
Less : Participation by the Israeli Office of the Chief Scientist | -1,344 | -1,113 |
Research and Development Expense | $4,772 | $2,917 |
TAXES_ON_INCOME_Details
TAXES ON INCOME (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Line Items] | ||
Operating loss carryforward | $29,222 | $25,156 |
Net deferred tax asset before valuation allowance | 10,994 | 8,961 |
Valuation allowance | -10,994 | -8,961 |
Net deferred tax asset | $0 | $0 |
TAXES_ON_INCOME_Details_1
TAXES ON INCOME (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Line Items] | ||
United States | ($3,789) | ($1,205) |
Israel | -5,457 | -3,694 |
Loss from continuing operations, before taxes on income | ($9,246) | ($4,899) |
TAXES_ON_INCOME_Details_Textua
TAXES ON INCOME (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% |
Israel Country [Member] | ||
Income Tax Disclosure [Line Items] | ||
Corporate Income Tax Rate | 26.50% | 25.00% |
Operating Loss Carryforwards, Valuation Allowance | 10,994 | |
Tax Credit Carryforward, Amount | 29,222 | |
Tax Credit Carryforward Expiration Period | 20 years |
TRANSACTIONS_WITH_RELATED_PART2
TRANSACTIONS WITH RELATED PARTIES (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Related Party Transaction [Line Items] | ||
Fees and related benefits and compensation expenses in respect of options granted to a member of the Board who is a related party | $164 | $248 |
SUBSEQUENT_EVENTS_Details_Text
SUBSEQUENT EVENTS (Details Textual) (USD $) | 60 Months Ended | 1 Months Ended | 0 Months Ended | |
Dec. 31, 2009 | Jun. 30, 2014 | Jun. 13, 2014 | Jan. 08, 2015 | |
Subsequent Event [Line Items] | ||||
Investment Warrants, Exercise Price | $2.25 | |||
Investors Private Placement [Member] | ||||
Subsequent Event [Line Items] | ||||
Warrants Issued To Purchase Of Common Stock | 2,800,000 | 2,500,000 | ||
Investment Warrants, Exercise Price | $5.22 | $5.22 | ||
Subsequent Event [Member] | Maxim Group LLC [Member] | ||||
Subsequent Event [Line Items] | ||||
Exercise Agreement, Maxim Cash Fee, Percentage | 6.00% | |||
Exercise Agreement, Fees and Expenses, Amount | $20,000 | |||
Warrants Issued To Purchase Of Common Stock | 38,000 | |||
Subsequent Event [Member] | Investors Private Placement [Member] | ||||
Subsequent Event [Line Items] | ||||
Proceeds from Warrant Exercises | $13,000,000 | |||
Warrants Issued To Purchase Of Common Stock | 3,800,000 | |||
Investment Warrants, Exercise Price | $6.50 |