Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 08, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | OphthaliX, Inc. | |
Entity Central Index Key | 1,218,683 | |
Trading Symbol | OPLI | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 10,441,251 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 6 | $ 13 |
Investment in Parent Company | 444 | 530 |
Other accounts receivable | 4 | 7 |
Total current assets | 454 | 550 |
Total assets | 454 | 550 |
CURRENT LIABILITIES: | ||
Related company | 4,569 | 4,459 |
Other accounts payable and accrued expenses | 249 | 251 |
Total current liabilities | 4,818 | 4,710 |
Share capital | ||
Preferred Stock - Authorized: 1,000,000 shares at March 31, 2017 (unaudited) and December 31, 2016; Issued and outstanding: 0 shares at March 31, 2017 (unaudited) and December 31, 2016 | ||
Common Stock of $0.001 par value - Authorized: 100,000,000 shares at March 31, 2017 (unaudited) and December 31, 2016; Issued and outstanding: 10,441,251 shares at March 31, 2017 (unaudited) and December 31, 2016 | 10 | 10 |
Additional Paid-in capital | 5,519 | 5,519 |
Accumulated deficit | (9,893) | (9,689) |
Total stockholders' deficiency | (4,364) | (4,160) |
Total liabilities and stockholders' deficiency | $ 454 | $ 550 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock shares issued | 10,441,251 | 10,441,251 |
Common Stock, shares outstanding | 10,441,251 | 10,441,251 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Operating expenses: | |||
Research and development | $ 1 | $ 85 | $ 199 |
General and administrative | 83 | 44 | 432 |
Total operating expenses | 84 | 129 | 631 |
Financial expenses, net | 120 | 29 | 285 |
Net loss | $ 204 | $ 158 | $ 916 |
Net loss per share: | |||
Basic and diluted net loss per share | $ 0.02 | $ 0.02 | $ 0.09 |
Weighted average number of shares of Common Stock used in computing basic and diluted net loss per share | 10,441,251 | 10,441,251 | 10,441,251 |
Available-for-sale investments: | |||
Changes in net unrealized loss (gain) from investment in Parent Company | $ 42 | $ (34) | |
Total other comprehensive loss | 42 | (34) | |
Comprehensive loss | $ 204 | $ 200 | $ 882 |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholders' Equity (Deficiency) - USD ($) $ in Thousands | Total | Common Stock | Additional paid-in capital | Accumulated deficit | Accumulated other comprehensive loss |
Balance at Dec. 31, 2015 | $ (3,281) | $ 10 | $ 5,516 | $ (8,773) | $ (34) |
Balance, Shares at Dec. 31, 2015 | 10,441,251 | ||||
Stock-based compensation | 2 | 2 | |||
Unrealized loss from investment in Parent Company | (42) | (42) | |||
Net loss | (158) | (158) | |||
Balance at Mar. 31, 2016 | (3,479) | $ 10 | 5,518 | (8,931) | (76) |
Balance, Shares at Mar. 31, 2016 | 10,441,251 | ||||
Balance at Dec. 31, 2015 | (3,281) | $ 10 | 5,516 | (8,773) | $ (34) |
Balance, Shares at Dec. 31, 2015 | 10,441,251 | ||||
Net loss | (916) | ||||
Balance at Dec. 31, 2016 | (4,160) | $ 10 | 5,519 | (9,689) | |
Balance, Shares at Dec. 31, 2016 | 10,441,251 | ||||
Net loss | (204) | (204) | |||
Balance at Mar. 31, 2017 | $ (4,364) | $ 10 | $ 5,519 | $ (9,893) | |
Balance, Shares at Mar. 31, 2017 | 10,441,251 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |||
Cash flows from operating activities: | |||||
Net loss | $ (204) | $ (158) | $ (916) | ||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||
Stock-based compensation | 2 | 3 | |||
Depreciation | [1] | [1] | |||
Decrease (increase) in other accounts receivable | 3 | (34) | (7) | ||
Decrease in other account payables and accrued expenses | (2) | (63) | (40) | ||
Impairment loss of investment in Parent Company | 86 | 162 | |||
Increase in Parent Company | 110 | 217 | 769 | ||
Changes in fair value of the derivative related to service agreement | [1] | ||||
Net cash provided by (used in) operating activities | (7) | (36) | 33 | ||
Change in cash and cash equivalents | (7) | (36) | (29) | ||
Cash and cash equivalents at the beginning of the period | 13 | 42 | 42 | ||
Cash and cash equivalents at the end of the period | $ 6 | $ 6 | $ 13 | ||
[1] | Representing an amount lower than $1 |
General
General | 3 Months Ended |
Mar. 31, 2017 | |
General [Abstract] | |
GENERAL | NOTE 1:- GENERAL a. OphthaliX Inc. (the “Company” or “OphthaliX”), originally incorporated in the State of Nevada on December 10, 1999 under the name Bridge Capital.com Inc., was a nominally capitalized corporation that did not commence its operations until it changed its name to Denali Concrete Management Inc. (“Denali”), in March 2001. Denali was a concrete placement company specializing in providing concrete improvements in the road construction industry. Denali operated primarily in Anchorage, Alaska, placing curb and gutter, sidewalks and retaining walls for state, municipal and military projects. In December 2005, the Company ceased its principal business operations and focused its efforts on seeking a business opportunity, becoming a public shell company in the U.S. Eye-Fite Ltd. (“Eye-Fite” or the “Subsidiary”) was founded on June 27, 2011 in contemplation of the execution of a transaction between Can-Fite BioPharma Ltd. (the “Parent company” or “Can-Fite”), a public company in Israel and U.S, and the Company, as further detailed in Note 1b. Following the transaction, Denali changed its name to OphthaliX Inc. and also changed its corporate domicile from Nevada to Delaware. In addition, the Company and its Subsidiary conducted research and development activities using an exclusive worldwide license for CF101, a synthetic A3 adenosine receptor, or A3AR, agonist (known generically as IB-MECA) solely for the field of ophthalmic diseases after the consummation of the transaction (see also Note 1b2). On July 5, 2016, the Company released top-line results from its Phase II clinical trial of CF101 for the treatment of glaucoma. In this trial, no statistically significant differences were found between the CF101 treated group and the placebo group in the primary endpoint of lowering intra ocular pressure ("IOP"). High IOP is a characteristic of glaucoma. CF101 was found to have a favorable safety profile and was well tolerated. In September 2016, the Company’s Board of Directors and Can-Fite, the Company’s parent and majority shareholder, consented in writing to, among other things, the voluntary dissolution and liquidation of the Company pursuant to a Plan of Dissolution. In November 2016, the Company’s Board of Directors abandoned the voluntary dissolution and liquidation of the Company. Subsequently, on November 15, 2016, the Company entered into a non-binding letter of intent with an Israeli company for the acquisition of such company by way of a reverse triangular merger. The proposed reverse merger is subject to signing of definitive transaction documents and the completion of closing conditions. There can be no assurance that the transactions contemplated by the letter of intent will be completed. As of December 31, 2016, the Company ceased all research and development operations. b. Reverse Recapitalization and related arrangements: 1. Recapitalization: On November 21, 2011 (the “Closing Date”), Can-Fite purchased 8,000,000 shares of the Company’s Common Stock, par value $ 0.001 per share in exchange for all of the issued and outstanding ordinary shares of Eyefite pursuant to the terms of a stock purchase agreement (the “Purchase Agreement”). As a result, Eyefite became a wholly-owned subsidiary of the Company and Can-Fite became its majority stockholder and a parent company. On November 21, 2011, the Company also issued a warrant to Can-Fite by which Can-Fite has the right, until the earlier of (a) November 21, 2016 and (b) the closing of the acquisition of the Company by another entity, resulting in the exchange of the Company’s outstanding common shares such that its stockholders prior to such transaction own, directly or indirectly, less than 50% of the voting power of the surviving entity, to convert its right to the Additional Payment (as defined below in Note 1b2) into 480,022 shares of Common Stock (subject to adjustment in certain circumstances). The per share exercise price for the shares was $5.148. The warrant expired on November 21, 2016. Simultaneously with the transactions described above, the Company completed a private placement of shares of Common Stock for gross proceeds of $3,330 through the sale of 646,776 shares to third party investors and sold 466,139 shares of Common Stock to Can-Fite in exchange for 714,922 ordinary shares of Can-Fite (representing approximately 2.5% of Can-Fite’s issued and outstanding share capital as of the Closing Date), valued at $2,400 and 97,112 shares to Can-Fite for gross proceeds of $500. As of March 31, 2017, the Company holds 446,827 Can-Fite ordinary shares, representing approximately 1.4% of Can-Fite’s outstanding share capital. In contemplation of the recapitalization transaction, on November 21, 2011, the Board of Directors, complying with the undertaking taken as part of the recapitalization of the Company on November 21, 2011, formerly resolved to issue to certain investors and Can-Fite, 1,455,228 and 1,267,315 warrants to acquire 323,384 and 281,625 shares of Common Stock of the Company, respectively (the “Warrants”). The exercise price of such Warrants was $7.74 per share. The Warrants were exercisable for a period of five years from their date of grant and did not contain any non- standard anti-dilution provisions. The warrants expired on November 20, 2016. The transaction was accounted for as a reverse recapitalization which is outside the scope ASC 805, “Business Combinations”. Under reverse capitalization accounting, EyeFite is considered the acquirer for accounting and financial reporting purposes, and acquired the assets and assumed the liabilities of the Company. Assets acquired and liabilities assumed are reported at their historical amounts. Consequently, the consolidated financial statements of the Company reflect the operations of the acquirer for accounting purposes together with a deemed issuance of shares, equivalent to the shares held by the former shareholders of the legal acquirer and a recapitalization of the equity of the accounting acquirer. These consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of EyeFite since inception. 2. License and research and development services from Can-Fite: In connection with the consummation of the recapitalization transaction, the Company and Can-Fite entered into a license agreement, pursuant to which Can-Fite granted EyeFite a sole and exclusive worldwide license for the use of CF101, solely in the field of ophthalmic diseases (“CF101”). EyeFite was obligated to make to the U.S. National Institutes of Health (“NIH”), with regard to the patents of which are included in the license to EyeFite, for as long as the license agreement between the Company and NIH remains in effect, a nonrefundable minimum annual royalty fee and potential future royalties of 4.0% to 5.5% on net sales. In addition, the Company will be obligated to make certain milestone payments ranging from $25 to $500 upon the achievement of various development milestones for each indication. As of December 31, 2016, the Company accrued an amount of $100 related to DES phase III clinical trial and $75 related to the glaucoma Phase II clinical trial. Eye-Fite will also be required to make payments of 20% of sublicensing revenues, excluding royalties and net of the required milestone payments. As of March 31, 2017, the Company did not reach any milestone or generate revenue that would trigger additional payments to Can-Fite. In addition, following the closing of the recapitalization transaction, Can-Fite, OphthaliX and EyeFite entered into a service agreement (the “Service Agreement”). Pursuant to the terms of the Service Agreement, Can-Fite will manage the research and development activities relating to pre-clinical and clinical studies for the development of the ophthalmic indications of CF101. In consideration for Can-Fite’s services, EyeFite will pay to Can-Fite a service fee (consisting of all expenses and costs incurred by Can-Fite plus 15%). In addition, the Company is committed to future additional payments equal to 2.5% of any and all proceeds received by EyeFite relating to the activities regarding the drug (the “Additional Payment”). According to the Service Agreement, Can-Fite had the right, to convert the Additional Payment into an additional 480,022 shares of Common Stock of the Company for total consideration of $2,471 (subject to adjustment in certain circumstances). As of December 31, 2016, such right expired. c. During the three month period ended March 31, 2017, the Company incurred operating losses and had negative operating activity amounting to $84 and $7, respectively. The Company will be required to obtain additional liquidity resources in the near term. In addition, in February 2013, as last updated in August 2015, the Company obtained a formal letter from Can-Fite stating that Can-Fite agreed to defer the payments under the Services Agreement from January 31, 2013 for the performance of the clinical trials of CF101 in ophthalmic indications until the completion of a fundraising by the Company that will allow such payments. Also, in August 2015, Can-Fite issued another financial support letter, pursuant to which it committed to cover any shortfall in the costs and expenses of operations of the Company which were in excess of the Company’s available cash to finance its operations, including cash generated from any future sale of Can-Fite shares. Any related balance on amounts owed bore interest at a rate of 3% per annum. Both letters expired on October 10, 2016. On November 14, 2016 Can-Fite agreed to extend the support letter under the same terms and conditions in order to fund the Company’s operations. Such letter expired on February 28, 2017. Deferred payments under the Services Agreement are currently due.. As of March 31, 2017, the deferred payments to Can-Fite totaled $4,569. There are no assurances that the Company will be able to obtain an adequate level of financial resources in the next twelve months. The Company will have a severe negative impact on its ability to remain a viable company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. |
Unaudited Condensed Financial S
Unaudited Condensed Financial Statements | 3 Months Ended |
Mar. 31, 2017 | |
Unaudited Condensed Financial Statements [Abstract] | |
UNAUDITED CONDENSED FINANCIAL STATEMENTS | NOTE 2:- UNAUDITED CONDENSED FINANCIAL STATEMENTS The unaudited Condensed Consolidated Financial Statements of OphthaliX Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated balance sheets as of December 31, 2016, included herein were derived from the audited consolidated financial statements for the year ended December 31, 2016. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. The results of operations for the three months ended March 31, 2017, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017, or any future period. The information included in this interim report should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Quantitative and Qualitative Disclosures About Market Risk,” and the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates under different assumptions or conditions. The significant accounting policies applied in the annual financial statements of the Company as of December 31, 2016 are applied consistently in these condensed financial statements. For further information, refer to the consolidated financial statements as of December 31, 2016. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Measurements [Abstract] | |
FAIR VALUE MEASUREMENTS | NOTE 3:- FAIR VALUE MEASUREMENTS The following table provides information by value level for financial assets that are measured at fair value, as defined by ASC 820, on a recurring basis, as of March 31, 2017 and December 31, 2016. March 31, 2017 Fair value measurements Description Fair Value Level 1 Level 2 Level 3 Unaudited Investment in Parent Company $ 444 $ 444 $ - $ - Total Financial Assets, net $ 444 $ 444 $ - $ - December 31, 2016 Fair value measurements Description Fair Value Level 1 Level 2 Level 3 Investment in Parent Company $ 530 $ 530 $ - $ - Total Financial Assets, net $ 530 $ 530 $ - $ - |
Stockholders' Deficiency
Stockholders' Deficiency | 3 Months Ended |
Mar. 31, 2017 | |
Stockholders' Deficiency [Abstract] | |
STOCKHOLDERS' DEFICIENCY | NOTE 4:- STOCKHOLDERS' DEFICIENCY a. Shares of Common Stock: The shares of Common Stock represent the legal acquirer, meaning OphthaliX’s share capital as of the transaction date. Shares of Common Stock confer upon the holders the right to receive notice to participate and vote in the general meetings of the Company and the right to receive dividends, if declared. On July 18, 2013, the Company’s stockholders approved a reverse stock split of one share for each four and one-half shares outstanding (1:4.5) (the “Reverse Split”) which became effective as of the close of business on August 6, 2013. All shares of Common Stock, warrants, options, per share data and exercise prices included in these consolidated financial statements and notes for all periods presented have been retroactively adjusted to reflect the Reverse Split with respect to the Company’s shares of Common Stock. b. Warrants: In contemplation with the Reverse Recapitalization, it was agreed that for each four shares of Common Stock purchased by the investors and Can-Fite, they will be granted by the Company nine warrants to acquire two share of Common Stock of the Company. The exercise price of the warrants was $7.74 per share of Common Stock. The warrants were exercisable for a period of five years from their date of grant. The warrants did not contain nonstandard anti-dilution provisions. In November 2016, all such warrants expired. According to ASC 815-40-15 and 25 instructions, the Company’s management evaluated whether the warrants are entitled to the scope exception in ASC 815-10-15-74 (as the warrants meet the definition of a derivative under ASC 815-10-15-83). Based on their straight forward terms (i.e., fix exercise price, no down-round or other provisions that will preclude them from being considered indexed to the Company’s own stock), the Company’s management concluded the warrants should be classified as equity at inception. In contemplation of the transaction, the Company issued a total of 532,870 fully vested warrants to acquire 118,415 shares of Common Stock to consultants and brokers involved in the transaction. These warrants were exercisable upon the payment of $5.148 per share of Common Stock. In November 2016, all such warrants expired. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5:- RELATED PARTY TRANSACTIONS The Company has several related party balances and transaction mainly in connection with the License Agreement with the Parent Company (see also Note 1b2). Details of the transactions with related parties are depicted in the following tables: Transactions with related parties: Three months ended March 31, 2017 2016 Research and development expenses (1) $ 1 $ 85 General and administrative expenses (1) $ -* ) $ 4 Finance expenses, net (1) (2) $ 110 $ 27 *) Representing amount less than $1 Balances with Related Parties: March 31. December 31, 2017 2016 Parent Company (1) $ (4,569 ) $ (4,459 ) Investment in Parent Company (2) $ 444 $ 530 Other account payables and accrued expenses (1) $ (175 ) $ (175 ) (1) Related to Service Agreement (see also Note 1b2). (2) Related to Investment in Parent Company. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Summary of financial assets and liabilities measured at fair value on recurring basis | March 31, 2017 Fair value measurements Description Fair Value Level 1 Level 2 Level 3 Unaudited Investment in Parent Company $ 444 $ 444 $ - $ - Total Financial Assets, net $ 444 $ 444 $ - $ - December 31, 2016 Fair value measurements Description Fair Value Level 1 Level 2 Level 3 Investment in Parent Company $ 530 $ 530 $ - $ - Total Financial Assets, net $ 530 $ 530 $ - $ - |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of transactions with related parties | Three months ended March 31, 2017 2016 Research and development expenses (1) $ 1 $ 85 General and administrative expenses (1) $ -* ) $ 4 Finance expenses, net (1) (2) $ 110 $ 27 *) Representing amount less than $1 |
Schedule of balances with related parties | March 31. December 31, 2017 2016 Parent Company (1) $ (4,569 ) $ (4,459 ) Investment in Parent Company (2) $ 444 $ 530 Other account payables and accrued expenses (1) $ (175 ) $ (175 ) (1) Related to Service Agreement (see also Note 1b2). (2) Related to Investment in Parent Company. |
General (Details)
General (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Nov. 21, 2011 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
General (Textual) | ||||
Common Stock, par value | $ 0.001 | $ 0.001 | ||
Interest rate | 3.00% | |||
License agreement terms | License agreement between the Company and NIH remains in effect, a nonrefundable minimum annual royalty fee and potential future royalties of 4.0% to 5.5% on net sales. | |||
Total operating expenses | $ 84 | $ 129 | $ 631 | |
Negative operating losses | 7 | |||
Private Placement [Member] | ||||
General (Textual) | ||||
Common stock gross proceeds | $ 3,330 | |||
Exercise price of the warrants | $ 7.74 | |||
Warrant [Member] | ||||
General (Textual) | ||||
Warrants issued to purchase common stock | 1,267,315 | |||
Warrants expiration date | Nov. 20, 2016 | |||
Maximum [Member] | ||||
General (Textual) | ||||
Payment for milestone | 500 | |||
Minimum [Member] | ||||
General (Textual) | ||||
Payment for milestone | $ 25 | |||
Eye-Fite Ltd [Member] | ||||
General (Textual) | ||||
Issuance of common stock to Can-Fite, shares | 8,000,000 | |||
Common Stock, par value | $ 0.001 | |||
Accrual clinical trials cost | $ 75 | |||
Percentage of sublicensing revenues | 20.00% | |||
Future additional payments percentage | 2.50% | |||
Can-Fite [Member] | ||||
General (Textual) | ||||
Common stock shares issued | 480,022 | |||
Exercise price per share | $ 5.148 | |||
Percentage of voting power | 50.00% | |||
Interest rate | 2.50% | |||
Warrants issued to purchase common stock | 1,455,228 | |||
Common stock converted to additional payment | 646,776 | 480,022 | ||
Common stock converted to additional payment, value | $ 2,471 | |||
Ordinary shares held | 446,827 | |||
Percentage of issued and outstanding share capital | 1.60% | |||
Accrual clinical trials cost | $ 100 | |||
Percentage of expenses | 15.00% | |||
Deferred payments | $ 4,569 | |||
Maturity date description | Both letters expired on October 10, 2016. On November 14, 2016 Can-Fite agreed to extend the support letter under the same terms and conditions in order to fund the Company's operations. Such letter expired on February 28, 2017. | |||
Can-Fite [Member] | Private Placement [Member] | ||||
General (Textual) | ||||
Common stock shares issued | 466,139 | |||
Common stock value issued | $ 2,400 | |||
Shares issued | 97,112 | |||
Ordinary shares received | 714,922 | |||
Gross proceeds | $ 500 | |||
Can-Fite [Member] | Warrant [Member] | ||||
General (Textual) | ||||
Common stock converted to additional payment | 281,625 | |||
Warrants exercisable period | 5 years | |||
Exercise price of the warrants | $ 7.74 | |||
Investors [Member] | Warrant [Member] | ||||
General (Textual) | ||||
Common stock converted to additional payment | 323,384 | |||
Warrants exercisable period | 5 years | |||
Exercise price of the warrants | $ 7.74 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment in Parent Company | $ 444 | $ 530 |
Total Financial Assets, net | 444 | 530 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment in Parent Company | 444 | 530 |
Total Financial Assets, net | 444 | 530 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment in Parent Company | ||
Total Financial Assets, net | ||
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment in Parent Company | ||
Total Financial Assets, net |
Stockholders' Deficiency (Detai
Stockholders' Deficiency (Details) - $ / shares | Nov. 12, 2012 | Jul. 18, 2013 | Mar. 31, 2017 |
Common Stock [Member] | |||
Stockholders' Deficiency (Textual) | |||
Reverse stock split | Stock split of one share for each four and one-half shares outstanding (1:4.5). | ||
Warrant [Member] | |||
Stockholders' Deficiency (Textual) | |||
Warrants issued to purchase common stock | 532,870 | ||
Common shares sold for considertion | 118,415 | ||
Exercise price | $ 5.148 | ||
Stock option plan term description | Contemplation with the Reverse Recapitalization, it was agreed that for each four shares of Common Stock purchased by the investors and Can-Fite, they will be granted by the Company nine warrants to acquire two share of Common Stock of the Company. | ||
Warrant [Member] | Can Fite [Member] | |||
Stockholders' Deficiency (Textual) | |||
Exercise price of the warrants | $ 7.74 | ||
Warrants expiration period | 5 years | ||
Warrants issued to purchase common stock | 1,267,315 | ||
Common shares sold for considertion | 281,625 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||||
Transactions with related parties: | ||||||
General and administrative expenses | $ 83 | $ 44 | $ 432 | |||
Related Parties [Member] | ||||||
Transactions with related parties: | ||||||
Research and development expenses | [1] | 1 | 85 | |||
General and administrative expenses | [1] | 4 | [2] | |||
Finance expenses, net | [1],[3] | $ 110 | $ 27 | |||
[1] | Related to Service Agreement (see also Note 1b2). | |||||
[2] | Representing an amount lower than $1 | |||||
[3] | Related to Investment in Parent Company. |
Related Party Transactions (D18
Related Party Transactions (Details 1) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Balances with Related Parties: | |||
Parent Company | [1] | $ (4,569) | $ (4,459) |
Investment in Parent Company | [2] | 444 | 530 |
Other account payables and accrued expenses | [1] | $ (175) | $ (175) |
[1] | Related to Service Agreement (see also Note 1b2). | ||
[2] | Related to Investment in Parent Company. |