Orgenesis (ORGS) 10-Q 16 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Feb. 28, 2018	Apr. 16, 2018
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2018
Trading Symbol	orgs
Entity Registrant Name	Orgenesis Inc.
Entity Central Index Key	1,460,602
Current Fiscal Year End Date	--11-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,897,053
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 28, 2018	Nov. 30, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 4,225	$ 3,519
Accounts receivable, net	1,202	1,336
Prepaid expenses and other receivables	909	841
Receivables from related party	615	691
Grants receivable	737	183
Inventory	881	725
Total current assets	8,569	7,295
NON-CURRENT ASSETS:
Call option derivative	339	339
Investments in associates, net	1,712	1,321
Property and equipment, net	5,617	5,104
Intangible assets, net	15,076	15,051
Goodwill	11,013	10,684
Other assets	85	78
Total non-current assets	33,842	32,577
TOTAL ASSETS	42,411	39,872
CURRENT LIABILITIES:
Accounts payable	3,838	3,914
Accrued expenses and other payables	1,452	1,435
Employees and related payables	2,343	2,961
Related parties	0	116
Advance payments on account of grant	1,703	1,719
Short-term loans and current maturities of long term loans	391	378
Deferred income	4,870	3,611
Current maturities of convertible loans	1,567	2,780
TOTAL CURRENT LIABILITIES	16,164	16,914
LONG-TERM LIABILITIES:
Loans payable	2,085	2,118
Convertible loans	482	2,415
Retirement benefits obligation	6	6
Deferred taxes	312	690
TOTAL LONG-TERM LIABILITIES	2,885	5,229
TOTAL LIABILITIES	19,049	22,143
COMMITMENTS	0	0
REDEEMABLE NON-CONTROLLING INTEREST	3,884	3,606
EQUITY:
Common stock of $0.0001 par value, 145,833,334 shares authorized, 10,273,301 shares issued and outstanding as of February 28, 2018	1	1
Additional paid-in capital	61,079	55,334
Receipts on account of shares to be allotted	5,997	1,483
Accumulated other comprehensive income	2,132	1,425
Accumulated deficit	(49,731)	(44,120)
TOTAL EQUITY	19,478	14,123
TOTAL LIABILITIES AND EQUITY	$ 42,411	$ 39,872

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Feb. 28, 2018	Nov. 30, 2017
Common Stock, par or stated value	$ 0.0001	$ 0.0001
Common Stock, shares authorized	145,833,334	145,833,334
Common Stock, shares issued	10,273,301	10,273,301
Common Stock, shares outstanding	10,273,301	10,273,301

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
REVENUES	$ 2,636	$ 1,852
COST OF REVENUES	1,644	1,905
GROSS PROFIT (LOSS)	992	(53)
RESEARCH AND DEVELOPMENT EXPENSES, net	766	741
AMORTIZATION OF INTANGIBLE ASSETS	436	381
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	3,344	2,271
OTHER INCOME	316	0
OPERATING LOSS	3,238	3,446
FINANCIAL EXPENSES, net	2,681	2,075
SHARE IN NET INCOME (LOSSES) OF ASSOCIATED COMPANY	46	(89)
LOSS BEFORE INCOME TAXES	5,873	5,610
TAX (INCOME) EXPENSES	(396)	516
NET LOSS	5,477	6,126
NET INCOME ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTERESTS	134	0
NET LOSS ATTRIBUTABLE TO THE COMPANY	$ 5,611	$ 6,126
LOSS PER SHARE:
Basic	$ 0.52	$ 0.66
Diluted	$ 0.52	$ 0.66
WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTATION OF BASIC AND DILUTED EARNINGS (LOSS) PER SHARE:
Basic	10,775,877	9,285,429
Diluted	10,775,877	9,285,429
OTHER COMPREHENSIVE LOSS:
Net Loss	$ 5,611	$ 6,126
Translation adjustments	(707)	95
TOTAL COMPREHENSIVE LOSS	$ 4,904	$ 6,221

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Receipts on Account of Share to be Allotted [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Nov. 30, 2016	$ 1	$ 45,454		$ (1,205)	$ (31,753)	$ 12,497
Beginning Balance (Shares) at Nov. 30, 2016	9,508,068
Stock-based compensation to employees and directors		386				386
Stock-based compensation to service providers		418				418
Issuance of warrants and beneficial conversion feature of convertible loans		2,154				2,154
Issuance of shares and receipts on account of shares and warrants to be allotted		499	$ 774			1,273
Comprehensive loss for the period				(95)	(6,126)	(6,221)
Ending Balance at Feb. 28, 2017	$ 1	48,911	774	(1,300)	(37,879)	10,507
Ending Balance (Shares) at Feb. 28, 2017	9,508,068
Beginning Balance at Nov. 30, 2017	$ 1	55,334	1,483	1,425	(44,120)	14,123
Beginning Balance (Shares) at Nov. 30, 2017	9,872,659
Stock-based compensation to employees and directors		386				386
Stock-based compensation to service providers		704				704
Beneficial conversion feature of convertible loans and Warrants issued		324				324
Conversion of convertible loans		1,720	4,148			5,868
Issuance of shares and receipts on account of shares and warrants to be allotted		2,611	366			2,977
Issuance of shares and receipts on account of shares and warrants to be allotted (Shares)	400,642
Comprehensive loss for the period				707	(5,611)	(4,904)
Ending Balance at Feb. 28, 2018	$ 1	$ 61,079	$ 5,997	$ 2,132	$ (49,731)	$ 19,478
Ending Balance (Shares) at Feb. 28, 2018	10,273,301

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,477)	$ (6,126)
Adjustments required to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,090	679
Share in (income) losses of associated company	(46)	89
Depreciation and amortization expenses	637	592
Change in fair value of embedded derivatives	117	1,065
Change in fair value of convertible bonds	0	14
Interest expenses accrued on loans and convertible loans (including amortization of beneficial conversion feature)	2,447	323
Changes in operating assets and liabilities:
Increase (decrease) in accounts receivable	175	(308)
Decrease in inventory	(134)	(215)
Decrease in related parties, net	(18)	0
Decrease in prepaid expenses and other accounts receivable	(567)	(541)
Decrease in accounts payable	(263)	(662)
Increase (decrease) in accrued expenses and other payables	(27)	754
Decrease in employee and related payables	(668)	(89)
Increase in deferred income	1,140	1,452
Increase (decrease) in advance payments and receivables on account of grant, net	(101)	2,855
Increase (decrease) in deferred taxes	(396)	517
Net cash provided by (used in) operating activities	(2,091)	399
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(553)	(253)
Disposals of property and equipment	0	19
Investments in associate	(345)	(180)
Net cash used in investing activities	(898)	(414)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short-term line of credit	0	(21)
Proceeds from issuance of shares and warrants (net of transaction costs)	3,082	1,323
Proceeds from issuance of convertible loans (net of transaction costs)	720	3,812
Repayment of convertible loans and convertible bonds	(177)	(1,736)
Repayment of short and long-term debt	(85)	(342)
Net cash provided by financing activities	3,540	3,036
NET CHANGE IN CASH AND CASH EQUIVALENTS	551	3,021
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	155	(40)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	3,519	891
CASH AND CASH EQUIVALENTS AT END OF PERIOD	4,225	3,872
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES
Conversion of loans and bonds (including accrued interest) to common stock and warrants	5,868	0
SUPPLEMENTAL INFORMATION ON INTEREST PAID IN CASH	$ 0	$ 155

GENERAL AND BASIS OF PRESENTATI

GENERAL AND BASIS OF PRESENTATION	3 Months Ended
	Feb. 28, 2018
GENERAL AND BASIS OF PRESENTATION [Text Block]	NOTE 1 - GENERAL AND BASIS OF PRESENTATION a. General Orgenesis Inc., a Nevada corporation, is a service and research company in the field of regenerative medicine industry with a focus on cell therapy development and manufacturing for advanced medicinal products. In addition, the Company is focused on developing novel and proprietary cell therapy trans-differentiation technologies for the treatment of diabetes. The consolidated financial statements include the accounts of Orgenesis Inc., its subsidiaries MaSTherCell S.A (“MaSTherCell”), its Belgian-based subsidiary and a contract development and manufacturing organization, or CDMO, specialized in cell therapy development and manufacturing for advanced medicinal products; Orgenesis SPRL (the “Belgian Subsidiary”), a Belgian-based subsidiary which is engaged in development and manufacturing activities, together with clinical development studies in Europe, Orgenesis Maryland Inc. (the “U.S. Subsidiary”), a Maryland corporation, and Orgenesis Ltd., an Israeli corporation, (the “Israeli Subsidiary”). The Company’s goal is to industrialize cell therapy for fast, safe and cost-effective production in order to provide rapid therapies for any market around the world through a world-wide network of CDMOs joint venture partners. The Company’s trans-differentiation technologies for treating diabetes, which will be referred to as the cellular therapy (“CT”) business, is based on a technology licensed by Tel Hashomer Medical Research (“THM”) to the Israeli Subsidiary that demonstrates the capacity to induce a shift in the developmental fate of cells from the liver and trans-differentiating (converting) them into “pancreatic beta cell-like” insulin-producing cells. On March 14, 2016, the Company and CureCell Co., Ltd. (“CureCell”) entered into a Joint Venture Agreement (the “CureCell JVA”) pursuant to which the parties are collaborating in the contract development and manufacturing of cell therapy products in Korea On May 10, 2016, the Company and Atvio Biotech Ltd., (“Atvio”) entered into a Joint Venture Agreement (the “Atvio JVA”) pursuant to which the parties agreed to collaborate in the contract development and manufacturing of cell and virus therapy products in the field of regenerative medicine in Israel. As used in this report and unless otherwise indicated, the term “Company” refers to Orgenesis Inc. and its subsidiaries (“Subsidiaries”). Unless otherwise specified, all amounts are expressed in United States Dollars. On November 16, 2017, the Company implemented a reverse stock split of its outstanding shares of common stock at a ratio of 1 -for- 12 shares. The reverse stock split has been reflected in these condensed consolidated financial statements. On March 13, 2018, our common stock began to be quoted and traded on The Nasdaq Capital Market under the symbol "ORGS." a. Liquidity As of February 28, 2018, the Company accumulated losses of approximately $49.7 million. Although we are now showing positive revenue and gross profit trends in our CDMO division, we expect to incur further losses in the CT division. The Company has been funding operations primarily from the proceeds from private placements of the Company’s convertible debt and equity securities and from revenues generated by MaSTherCell. From December 1, 2017 through February 28, 2018, the Company received, through MaSTherCell, proceeds of approximately $2.6 million in revenues and accounts receivable from customers and $3.8 million from the private placement to accredited investors of the Company's equity and equity linked securities and convertible loans, out of which $0.5 million are from the institutional investor with whom the Company entered into definitive agreements in January 2017 for the private placement of units of the Company's securities for aggregate subscription proceeds of $16 million. The subscription proceeds are payable on a periodic basis through August 2018. In addition, from March 1, 2018 through April 15, 2018, the Company raised $6.7 million from the proceeds of a private placement to certain accredited investors of equity and equity-linked securities and exercise of warrants by an investor and received, through MaSTherCell, proceeds of approximately $1.1 million in accounts receivable from its customers. Basis of Presentation These unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial statements. Accordingly, they do not contain all information and notes required by U.S. GAAP for annual financial statements. In the opinion of management, the unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company’s consolidated financial position as of February 28, 2018, and the consolidated statements of comprehensive loss for the three months ended February 28, 2018 and 2017, and the changes in equity and cash flows for the three-month period ended February 28, 2018 and 2017. The interim results, are not necessarily indicative of the results to be expected for the year ending November 30, 2018. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended November 30, 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Feb. 28, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted are consistent with those of the previous financial year. Recently Issued Accounting Pronouncements- adopted by the Company In July 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-11, "Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480; Derivatives and Hedging (Topic 815)", ("ASU 2017-11"). This update was issued to address complexities in accounting for certain equity-linked financial instruments containing down round features. The amendment changes the classification analysis of these financial instruments (or embedded features) so that equity classification is no longer precluded. The amendments in ASU 2017-11 are effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company elected to early adopt the standard effective September 1, 2017, retrospectively. Following is the results of the adoption on the Company’s condensed consolidated financial statements previously reported: Shareholders’ equity February 28, 2017 Impact As reported of Previously adoption As revised In thousands Additional paid-in capital $ 45,062 $ 3,838 $ 48,900 Accumulated deficit $ (38,833 ) $ 954 $ (37,879 ) Total equity $ 5,715 $ 4,792 $ 10,507 Statement of Comprehensive loss Three months ended February 28, 2017 Impact As reported of Previously adoption As revised In thousands Financial expenses, net $ 4,948 $ (2,873 ) $ 2,075 Loss before income taxes $ 8,483 $ (2,873 ) $ 5,610 Net loss $ 8,999 $ (2,873 ) $ 6,126

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Feb. 28, 2018
SEGMENT INFORMATION [Text Block]	NOTE 3 - SEGMENT INFORMATION The Chief Executive Officer ("CEO") is the Company’s chief operating decision-maker ("CODM"). Based on the Company's organizational structure, its business activities and information reviewed by the CODM for the purposes of allocating resources and assessing performance, management has determined that there are two operating segments. CDMO The CDMO activity is comprised of a specialization in cell therapy development for advanced therapeutic products and is comprised of two types of services to its customers: (i) process and assay development services and (ii) cGMP contract manufacturing services. The CDMO activities include the operations of MaSTherCell. CT Business The CT Business activity is based on our technology that demonstrates the capacity to induce a shift in the developmental fate of cells from the liver and differentiating (converting) them into “pancreatic beta cell-like” insulin producing cells for patients with Type 1 Diabetes. This segment is comprised of all entities aside from MaSTherCell. The CODM does not review assets by segment, therefore the measure of assets has not been disclosed for each segment. Segment data for the three months ended February 28, 2018 is as follows: Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 3,181 $ - $ (545 ) $ 2,636 * Cost of revenues (1,725 ) - 240 (1,485 ) Gross profit (loss) 1,456 - (305 ) 1,151 Research and development expenses, net - (887) 305 (582) Operating expenses (1,080 ) (1,356 ) - (2,436 ) Other income 316 - - 316 Operating profit (loss) 692 (2,243 ) - (1,551 ) Adjustments to presentation of segment Adjusted EBIT Depreciation and amortization (595 ) (2) Segment performance 97 (2,245 ) Reconciliation of segment performance to loss for the three months ended February 28, 2018: Three months ended February 28, 2018 in thousands Segment performance (2,148 ) Stock-based compensation (1,090 ) Financial expenses, net (2,681 ) Share in losses of associated companies 46 Loss before income tax $ (5,873 ) * The Company's revenues consist of: $2,026 from services and $610 from goods sold. Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 2,144 $ $ (292 ) $ 1,852 * Cost of revenues (1,861 ) 167 (1,694 ) Gross profit (loss) 283 (125 ) 158 Research and development expenses, net (601 ) 125 (476 ) Operating expenses 1,712 (3,590 ) (1,878 ) Operating profit (loss) 1,995 (4,191 ) - (2,196 ) Adjustments to presentation of segment Adjusted EBIT Depreciation and amortization (592 ) Segment performance 1,403 (4,191 ) * The Company's revenues consist of: $1,384 from services and $468 from goods sold. Reconciliation of segment performance to loss for the three months ended February 28, 2017: Three months ended February 28, 2017 in thousands Segment performance (2,788 ) Stock-based compensation (679 ) Financial expenses, net (2,054 ) Share in losses of associated companies (89 ) Loss before income tax $ (5,610 ) Geographic, Product and Customer Information Substantially all the Company's revenues and long-lived assets are located in Belgium through its subsidiary, MaSTherCell. Net revenues from single customers from the CDMO segment that exceed 10% of total net revenues are: Revenues from single customers from the CDMO segment that exceed 10% of total net revenues are: Three Months Ended February 28, February 28, 2018 2017 (in thousands) Customer A $ 894 $ 1,189 Customer B 957 - Customer C 971 292 Customer D $ - $ 255

CONVERTIBLE LOAN AGREEMENTS

CONVERTIBLE LOAN AGREEMENTS	3 Months Ended
	Feb. 28, 2018
CONVERTIBLE LOAN AGREEMENTS [Text Block]	NOTE 4 – CONVERTIBLE LOAN AGREEMENTS (a) During the three months ended February 28, 2018, the Company entered into several unsecured convertible loan agreements with accredited or offshore investors for an aggregate amount of $720 thousand. The loans bear an annual interest rate of 6% and mature in six months or two years from the closing date, unless earlier converted subject to the terms defined in the agreements. The loans provide that the entire principal amount and accrued interest automatically convert into a Unit, consisting of one share of Common Stock and one three-year warrant exercisable into an additional share of common stock at a per share exercise price of $6.24, upon certain conditions, including the listing of the Company's shares on a U.S. exchange. In addition, the Company issued to certain investors 40,064 three-year warrant to purchase up to an additional one share of the Company’s Common Stock at a per share exercise price of $6.24. Since the closing price of the Company's publicly traded stock is greater than the effective conversion price on the closing date, the conversion feature is considered "beneficial" to the holders and equal to $193 thousand. The difference is treated as issued equity and reduces the carrying value of the host debt; the discount is accreted as deemed interest on the debt. The transaction costs for the convertible notes received during the three months ended February 28, 2018 were approximately $89 thousand, out of which $31 thousand are stock-based compensation due to issuance of warrants (See also Note 7(c)). Through February 28, 2018, $650 thousand in principal amount out of these convertible loans were converted into units of the Company's securities. See additional information in Note 4b. (b) During the three months ended February 28, 2018, holders of approximately $6.8 million in principal and accrued interest of convertible loans("converted amounts") with maturity dates between June 2018 and January 2020 converted these outstanding amounts, in accordance with the terms specified in such loans, into units of the Company’s securities at a deemed per unit conversion rate of $6.24, with each unit comprised of: (i) one (1) share of the Company’s Common Stock and (ii) one warrant, exercisable for a period of three years from the date of issuance, for an additional share of Common Stock, at a per share exercise price of $6.24. As a result of these conversions, the holders are entitled to 1,087,960 shares of Common Stock and three-year warrants for an additional 1,087,960 shares of common stock at a per share exercise price of $6.24. The Company allocated the converted amounts based on the fair value of the warrants and the shares. The table below presents the converted amounts of the proceeds as of the closing date: Proceed Allocation (in thousands) Warrants component $ 2,641 Shares component 4,147 Total $ 6,788 As of February 28, 2018, these shares have not been issued therefore the Company recorded the Shares component in Receipts on Account of Shares to be Allotted. Additionally, since these loans include beneficial conversion features ("BCF"), the Company recognized the unamortized BCF as of the conversion date as interest expenses.

COMMITMENTS

COMMITMENTS	3 Months Ended
	Feb. 28, 2018
COMMITMENTS [Text Block]	NOTE 5 – COMMITMENTS "MSA" with Adva Biotechnology Ltd. On January 28, 2018, the Company and Adva Biotechnology Ltd. (“Adva”), entered into a Master Services Agreement (“MSA”), under which the Company and/or its affiliates are to provide certain services relating to development of products to Adva, as may be agreed between the parties from time to time. Under the MSA, the Company undertook to provide Adva with in kind funding in the form of materials and services having an aggregate value of $749,900 at the Company’s own cost in accordance with a project schedule and related mutually acceptable project budget. The Company entered into agreement with Atvio Biotech Ltd, its Israeli-based joint venture, to fulfill its obligations pursuant this MSA. In March 2018, the Company incurred a total expense of $82 thousand. Grants On December 18, 2017, MaSTherCell, as coordinator of the "Icone" project with a consortium of private and public searchers, received the approval of a new grant from the Walloon Region with a direct financial support of Euro 1 million ($1.2 million) in program for development of iPS-derived Cortical Neurons. The program started in 2017 for a 4 -year period until 2021. After 2 years, project partners will make a decision continue the program upon pre-defined scientific milestone achievements. In December 2017, MaSTherCell received an advance payment of Euro 0.6 million ($0.7 million).

EQUITY

EQUITY	3 Months Ended
	Feb. 28, 2018
EQUITY [Text Block]	NOTE 6 – EQUITY Financings 1) In January 2017, the Company entered into definitive agreements with an institutional investor for the private placement of 2,564,115 units of the Company’s securities for aggregate subscription proceeds to the Company of $16 million at $6.24 price per unit. Each unit is comprised of one share of the Company’s Common Stock and a warrant, exercisable over a three-years period from the date of issuance, to purchase one additional share of Common Stock at a per share exercise price of $6.24. The subscription proceeds are payable on a periodic basis through August 2018. Each periodic payment of subscription proceeds will be evidenced by the Company’s standard securities subscription agreement. During the three months ended February 28, 2018 the investor remitted to the Company $0.5 million, in consideration of which, the investor is entitled to 80,128 shares of the Company’s Common Stock and three-year warrants to purchase up to an additional 80,128 shares of the Company’s Common Stock at a per share exercise price of $6.24. The Company allocated the proceeds based on the fair value of the warrants and the shares. The table below presents the allocation of the proceeds as of the closing date: Proceed Allocation (in thousands) Warrants component $ 187 Shares component 313 Total $ 500 As of February 28, 2018, all of these shares have not been issued and therefore the Company has recorded $294 thousand in receipts on account of shares to be allotted in the statement of equity. In connection therewith, the Company undertook to pay a fee of 5% resulting in the payment of $25 thousand (classified as Additional Paid-in Capital in the statement of equity) and the issuance of 4,006 restricted shares of Common Stock. The fair value of the shares as of the date of grant was $29 thousand using the share price on the date of grant. Through February 28, 2018 the Company has received a total of $5,000 thousand out of the committed $16 million subscription proceeds. See also note 10(a). 2) During the three months ended February 28, 2018, the Company entered into definitive agreements with accredited and other qualified investors relating to a private placement of 413,736 units. Each unit is comprised of (i) one share of the Company’s common stock and (ii) three-year warrant to purchase up to an additional one share of the Company’s Common Stock at a per share exercise price of $6.24, for aggregate proceeds to the Company of approximately $2.6 million. The Company allocated the proceeds based on the fair value of the warrants and the shares. The table below presents the allocation of the proceeds as of the closing date: Proceed Allocation (in thousands) Warrants component $ 972 Shares component 1,609 Total $ 2,581 As of February 28, 2018, these shares have not been issued therefore the Company recorded $1.6 million net of transaction costs in Receipts on Account of Shares to be Allotted. In connection with $1 million out of these private placements, the Company undertook to pay a fee of 8%, resulting in the payment of $80 thousand and the issuance of 9,078 three-year warrant to purchase up to an additional one share of the Company’s Common Stock at a per share exercise price of $6.24. The fair value of the warrants as of the date of grant was $45 thousand using a Black Scholes option pricing model.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Feb. 28, 2018
STOCK BASED COMPENSATION [Text Block]	NOTE 7 – STOCK BASED COMPENSATION a. Options Granted to employees Below is a table summarizing the terms of options granted to an employee during the three months ended February 28, 2018: Fair value at No. of options Exercise grant Expiration granted price Vesting period ( in thousands ) period Employee 50,000 $4.42 Quarterly over a $163 10 years The fair value of these option grants is based on the following assumptions: Three Months Ended February 28, 2018 Value of one common share $4.42 Dividend yield 0% Expected stock price volatility 97% Risk free interest rate 2.11% Expected term (years) 5 b. Options Granted to non-employees Below is a table summarizing all the options granted to consultants and service providers during the three months ended February 28, 2018: Fair value at No. of options Exercise grant Expiration granted price Vesting period ( in thousands ) period Non-employee 5,200 $4.42 6 month period $20 10 years Non-employee 8,333 $6.4 Annual over a period $48 10 years The fair value of these option grants is based on the following assumptions: Three Months Ended February 28, 2018 Value of one common share $4.42 -$6.4 Dividend yield 0% Expected stock price volatility 97%- 98% Risk free interest rate 2.33%- 2.54% Expected term (years) 10 c. Shares and Warrants Granted to non-employees 1) During the three months ended February 28, 2018, the Company granted to several consultants 17,622 warrants each exercisable at $6.24 to $10.03 per share for three years as a success fee with respect to the issuance of the convertible loans and part of the private placement. The fair value of those warrants as of the date of grant using the Black-Scholes valuation model was $76 thousand. 2) In December 2017, the Company entered into investors relation services, marketing and related services agreement. Under the terms of the agreement, the Company agreed to grant the consultant 100,000 shares of restricted common stock, of which the first 25,000 shares will vest after 30 days from the signing date, and 75,000 shares are to vest monthly over 15 months commencing February 2018. As of February 28, 2018, 30,000 shares are vested. The fair value of the shares was $790 thousand using the fair value of the shares at February 28, 2018, out of which $229 thousand was recognized during the three months ended February 28, 2018. The unrecognized costs will be utilized on a monthly basis until May 2019. 3) In December 2017, the Company entered into investors relation services, marketing and related services agreement. Under the terms of the agreement, the Company agreed to grant the consultant 95,000 shares of restricted common stock, of which the first 25,000 shares will vest after 30 days from the signing date, and 70,000 shares are to vest monthly over 14 months commencing February 2018. As of February 28, 2018, 30,000 shares vested. The fair value of the shares was $751 thousand using the fair value of the shares at February 28, 2018, out of which $229 thousand was recognized during the three months ended February 28, 2018. The unrecognized costs will be utilized on a monthly basis until April 2019. 4) In January 2018, the Company entered into consulting agreement with financial advisor for a period of one year. Under the terms of the agreements, the consultant eligible to $20 thousand a month for three months and 19,000 units of the Company securities. Each unit is comprised of (i) one share of the Company’s common stock and (ii) three-year warrant to purchase up to an additional one share of the Company’s Common Stock at a per share exercise price of $6.24. The fair value of the units as of the date of grant was $171, out of which $62 thousand reflect the fair value of the warrants using the Black-Scholes valuation model.

LOSS PER SHARE

LOSS PER SHARE	3 Months Ended
	Feb. 28, 2018
LOSS PER SHARE [Text Block]	NOTE 8 – LOSS PER SHARE The following table sets forth the calculation of basic and diluted loss per share for the period indicated: Three Months Ended February 28, February 28, 2018 2017 (in thousands, except per share data) Basic: Loss for the period $ (5,611 ) $ (6,126 ) Weighted average number of common shares outstanding 10,775,877 9,285,429 Loss per common share $ 0.52 $ 0.66 Diluted Earnings (loss) for the period (5,611 ) (6,126 ) Weighted average number of shares used in the computation of basic and diluted loss per share 10,775,877 9,285,429 Loss per common share $ 0.52 $ 0.66 Diluted loss per share does not include 4,981,019 shares underlying outstanding options and warrants and 1,176,286 shares upon conversion of convertible notes for the three months ended February 28, 2018, because the effect of their inclusion in the computation would be anti-dilutive. Diluted loss per share does not include 4,059,824 shares underlying outstanding options and warrants and 1,354,257 shares upon conversion of convertible notes for the three months ended February 28, 2017, because the effect of their inclusion in the computation would be anti-dilutive.

FAIR VALUE PRESENTATION

FAIR VALUE PRESENTATION	3 Months Ended
	Feb. 28, 2018
FAIR VALUE PRESENTATION [Text Block]	NOTE 9 - FAIR VALUE PRESENTATION The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: • Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. • Level 2: Observable inputs that are based on inputs not quoted on active markets, but corroborated by market data. • Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs, to the extent possible, and considers credit risk in its assessment of fair value. As of February 28, 2018, and November 30, 2017, the Company’s assets and liabilities that are measured at fair value and classified as level 3 fair value are as follows (in thousands): February 28, November 30, 2018 2017 Level 3 Level 3 Embedded derivatives convertible loans*(1) $ 154 $ 37 Call/Put option derivatives $ (339 ) $ (339 ) * The embedded derivative is presented in the Company's balance sheets on a combined basis with the related host contract (the convertible loans). (1) The fair value is determined by using a Black-Scholes Model. The following table presents the assumptions that were used for the models as of February 28, 2018: Embedded Derivative Fair value of shares of Common Stock $7.9 Expected volatility 128% Risk free interest rate 1.58% Expected term (years) 0.17 Expected dividend yield 0% The fair value of the convertible bonds is equal to their principal amount and the aggregate accrued interest. The table below sets forth a summary of the changes in the fair value of the Company’s financial liabilities classified as Level 3 for the three months ended February 28, 2018: Embedded Put Option Derivatives Derivative Balance at beginning of the year $ 37 $ (339 ) Repayment (14 ) - Changes in fair value during the period 131 - Balance at end of the year $ 154 $ (339 ) (*) There were no transfers to Level 3 during the three months ended February 28, 2018. The table below sets forth a summary of the changes in the fair value of the Company’s financial assets and liabilities classified as Level 3 for the year ended November 30, 2017: Embedded Convertible Put Option Derivatives Bonds Derivative Balance at beginning of the year $ 240 $ 1,818 $ 273 Repayment (876 ) (1,827 ) Changes in fair value during the period 662 22 (612 ) Translation adjustments 11 (13 ) Balance at end of the year $ 37 $ - $ (339 ) (*) There were no transfers to Level 3 during the twelve months ended November 30, 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Feb. 28, 2018
SUBSEQUENT EVENTS [Text Block]	NOTE 10 - SUBSEQUENT EVENTS a. In March 2018, the institutional investor referred to in Note 6(1), remitted to the Company $2 million in subscription proceeds entitling such investor to 320,513 shares of Common Stock and three-year warrants for an additional 320,513 shares. The Company has received as of April 16, 2018 a total of $7 million out of the committed $16 million subscription proceeds. b. In March 2018, a holder of 128,077 warrants issued in November 2015 exercised his warrants into 128,077 shares of the Company’s Common Stock at a per share exercise price of $6.24, for aggregate proceeds to the Company of $0.8 million. d. In March 2018, holders of $741 thousand in principal and accrued interest of convertible loans with maturity dates between July 2018 and January 2020 converted these outstanding amounts, in accordance with the terms specified in such notes, into units of the Company’s securities at a deemed per unit conversion rate of $6.24, with each unit comprised of: (i) one (1) share of the Company’s Common Stock and (ii) one warrant, exercisable for a period of three years from the date of issuance, for an additional share of Common Stock, at a per share exercise price of $6.24. As a result of these conversions, the Company will issue 118,736 shares of Common Stock and three-year warrants for an additional 118,736 shares of common stock at a per share exercise price of $6.24. e. In March 2018, a former Israel-based consultant exercised warrants issued in November 2016 to purchase shares of the Company’s Common Stock. A related party of such consultant submitted at the same time notice of its intention to convert into shares of the Company’s common stock the principal amount and accrued interest of approximately $381 thousand outstanding under a loan originally advanced to the Company in November 2016. The exercise price in the warrants and conversion price were fixed at $0.52 per share (pre-reverse stock split implemented by the Company in November 2017). There is a significant disagreement between the Company and these two entities as to the number of shares of Common Stock issuable to these entities, and they contend that the number of shares of Common Stock issuable to them should not take into account the reverse stock split. The Company rejects these contentions in their entirety and, based on the advice of specially retained counsel, believes that these claims are without legal merit and not made in good faith. The Company intends to vigorously defend its interests and pursue other avenues of legal address. Through its counsel, the Company has advised these entities that unless they withdraw their request within a specified period, the Company will cancel the above referenced agreements and these parties’ right to receive any shares of the Company’s Common Stock. f. In March 2018, the Company entered into a definitive agreement with an accredited investor relating to a private placement of (i) 160,256 units of the Company’s securities. Each unit is comprised of (i) one share of the Company’s Common Stock and (ii) one three-year warrant to purchase up to an additional one share of the Company’s Common Stock at a per share exercise price of $6.24, for aggregate proceeds to the Company of $1 million. The subscription proceeds were remitted in full through April 16, 2018.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Feb. 28, 2018
Condensed Balance Sheet [Table Text Block]	February 28, 2017 Impact As reported of Previously adoption As revised In thousands Additional paid-in capital $ 45,062 $ 3,838 $ 48,900 Accumulated deficit $ (38,833 ) $ 954 $ (37,879 ) Total equity $ 5,715 $ 4,792 $ 10,507
Condensed Income Statement [Table Text Block]	Three months ended February 28, 2017 Impact As reported of Previously adoption As revised In thousands Financial expenses, net $ 4,948 $ (2,873 ) $ 2,075 Loss before income taxes $ 8,483 $ (2,873 ) $ 5,610 Net loss $ 8,999 $ (2,873 ) $ 6,126

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Schedule of Segment Information [Table Text Block]	Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 3,181 $ - $ (545 ) $ 2,636 * Cost of revenues (1,725 ) - 240 (1,485 ) Gross profit (loss) 1,456 - (305 ) 1,151 Research and development expenses, net - (887) 305 (582) Operating expenses (1,080 ) (1,356 ) - (2,436 ) Other income 316 - - 316 Operating profit (loss) 692 (2,243 ) - (1,551 ) Adjustments to presentation of segment Adjusted EBIT Depreciation and amortization (595 ) (2) Segment performance 97 (2,245 )	Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 2,144 $ $ (292 ) $ 1,852 * Cost of revenues (1,861 ) 167 (1,694 ) Gross profit (loss) 283 (125 ) 158 Research and development expenses, net (601 ) 125 (476 ) Operating expenses 1,712 (3,590 ) (1,878 ) Operating profit (loss) 1,995 (4,191 ) - (2,196 ) Adjustments to presentation of segment Adjusted EBIT Depreciation and amortization (592 ) Segment performance 1,403 (4,191 )
Schedule Of Reconciliation of Segment Performance [Table Text Block]	Three months ended February 28, 2018 in thousands Segment performance (2,148 ) Stock-based compensation (1,090 ) Financial expenses, net (2,681 ) Share in losses of associated companies 46 Loss before income tax $ (5,873 )	Three months ended February 28, 2017 in thousands Segment performance (2,788 ) Stock-based compensation (679 ) Financial expenses, net (2,054 ) Share in losses of associated companies (89 ) Loss before income tax $ (5,610 )
Schedule of Revenues from Major Customers [Table Text Block]	Three Months Ended February 28, February 28, 2018 2017 (in thousands) Customer A $ 894 $ 1,189 Customer B 957 - Customer C 971 292 Customer D $ - $ 255

CONVERTIBLE LOAN AGREEMENTS (Ta

CONVERTIBLE LOAN AGREEMENTS (Tables)	3 Months Ended
	Feb. 28, 2018
Schedule of Fair Value of Loan Agreement [Table Text Block]	Proceed Allocation (in thousands) Warrants component $ 2,641 Shares component 4,147 Total $ 6,788

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017
Schedule of Fair Value of Instruments for Financing [Table Text Block]	Proceed Allocation (in thousands) Warrants component $ 187 Shares component 313 Total $ 500	Proceed Allocation (in thousands) Warrants component $ 972 Shares component 1,609 Total $ 2,581

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
	Feb. 28, 2018
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block]	Fair value at No. of options Exercise grant Expiration granted price Vesting period ( in thousands ) period Employee 50,000 $4.42 Quarterly over a $163 10 years
Schedule of Share-based Compensation, Stock Options Granted to Consultants [Table Text Block]	Fair value at No. of options Exercise grant Expiration granted price Vesting period ( in thousands ) period Non-employee 5,200 $4.42 6 month period $20 10 years Non-employee 8,333 $6.4 Annual over a period $48 10 years
Options Granted to Employees [Member]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended February 28, 2018 Value of one common share $4.42 Dividend yield 0% Expected stock price volatility 97% Risk free interest rate 2.11% Expected term (years) 5
Options Granted to Non- Employees [Member]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended February 28, 2018 Value of one common share $4.42 -$6.4 Dividend yield 0% Expected stock price volatility 97%- 98% Risk free interest rate 2.33%- 2.54% Expected term (years) 10

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	3 Months Ended
	Feb. 28, 2018
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended February 28, February 28, 2018 2017 (in thousands, except per share data) Basic: Loss for the period $ (5,611 ) $ (6,126 ) Weighted average number of common shares outstanding 10,775,877 9,285,429 Loss per common share $ 0.52 $ 0.66 Diluted Earnings (loss) for the period (5,611 ) (6,126 ) Weighted average number of shares used in the computation of basic and diluted loss per share 10,775,877 9,285,429 Loss per common share $ 0.52 $ 0.66

FAIR VALUE PRESENTATION (Tables

FAIR VALUE PRESENTATION (Tables)	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017
Schedule of Assets and Liabilities at Fair Value [Table Text Block]	February 28, November 30, 2018 2017 Level 3 Level 3 Embedded derivatives convertible loans*(1) $ 154 $ 37 Call/Put option derivatives $ (339 ) $ (339 )
Schedule of Fair Value, Assumptions Used [Table Text Block]	Embedded Derivative Fair value of shares of Common Stock $7.9 Expected volatility 128% Risk free interest rate 1.58% Expected term (years) 0.17 Expected dividend yield 0%
Schedule of Fair Value of Financial Liabilities, Activity [Table Text Block]	Embedded Put Option Derivatives Derivative Balance at beginning of the year $ 37 $ (339 ) Repayment (14 ) - Changes in fair value during the period 131 - Balance at end of the year $ 154 $ (339 )	Embedded Convertible Put Option Derivatives Bonds Derivative Balance at beginning of the year $ 240 $ 1,818 $ 273 Repayment (876 ) (1,827 ) Changes in fair value during the period 662 22 (612 ) Translation adjustments 11 (13 ) Balance at end of the year $ 37 $ - $ (339 )

GENERAL AND BASIS OF PRESENTA24

GENERAL AND BASIS OF PRESENTATION (Narrative) (Details) $ in Millions	3 Months Ended
	Feb. 28, 2018USD ($)shares
General And Basis Of Presentation 1	1
General And Basis Of Presentation 2 | shares	12
General And Basis Of Presentation 3	$ 49.7
General And Basis Of Presentation 4	2.6
General And Basis Of Presentation 5	3.8
General And Basis Of Presentation 6	0.5
General And Basis Of Presentation 7	16
General And Basis Of Presentation 8	6.7
General And Basis Of Presentation 9	$ 1.1

SEGMENT INFORMATION (Narrative)

SEGMENT INFORMATION (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)
Segment Information 1	$ 2,026
Segment Information 2	610
Segment Information 3	1,384
Segment Information 4	$ 468
Segment Information 5	10.00%
Segment Information 6	10.00%

CONVERTIBLE LOAN AGREEMENTS (Na

CONVERTIBLE LOAN AGREEMENTS (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)shares
Convertible Loan Agreements 1	$ 720,000
Convertible Loan Agreements 2	6.00%
Convertible Loan Agreements 3	$ 6.24
Convertible Loan Agreements 4	40,064
Convertible Loan Agreements 5	$ 6.24
Convertible Loan Agreements 6	193,000
Convertible Loan Agreements 7	89,000
Convertible Loan Agreements 8	31,000
Convertible Loan Agreements 9	650,000
Convertible Loan Agreements 10	6,800,000
Convertible Loan Agreements 11	6.24
Convertible Loan Agreements 12	$ 6.24
Convertible Loan Agreements 13 | shares	1,087,960
Convertible Loan Agreements 14 | shares	1,087,960
Convertible Loan Agreements 15	$ 6.24

COMMITMENTS (Narrative) (Detail

COMMITMENTS (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)yr
Commitments 1	$ 749,900
Commitments 2	$ 82
Commitments 2 | yr	10
Commitments 3	1,000,000
Commitments 4	$ 1,200,000
Commitments 6	4
Commitments 7	2
Commitments 5	600,000
Commitments 6	$ 700,000

EQUITY (Narrative) (Details)

EQUITY (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)shares
Equity 1 | shares	2,564,115
Equity 2	$ 16,000,000
Equity 3	6.24
Equity 4	6.24
Equity 5	$ 500,000
Equity 6 | shares	80,128
Equity 7 | shares	80,128
Equity 8	$ 6.24
Equity 9	$ 294,000
Equity 10	5.00%
Equity 11	$ 25,000
Equity 12 | shares	4,006
Equity 13	$ 29,000
Equity 14	5,000,000
Equity 15	$ 16,000,000
Equity 16 | shares	413,736
Equity 17	$ 6.24
Equity 18	2,600,000
Equity 19	1,600,000
Equity 20	$ 1,000,000
Equity 21	8.00%
Equity 22	$ 80,000
Equity 23	9,078
Equity 24	$ 6.24
Equity 25	$ 45,000

STOCK BASED COMPENSATION (Narra

STOCK BASED COMPENSATION (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)dmo$ / sharesshares
Stock Based Compensation 1 | shares	17,622
Stock Based Compensation 2 | $	$ 6.24
Stock Based Compensation 3 | $ / shares	$ 10.03
Stock Based Compensation 4 | $	$ 76,000
Stock Based Compensation 5 | shares	100,000
Stock Based Compensation 6 | shares	25,000
Stock Based Compensation 7 | d	30
Stock Based Compensation 8 | shares	75,000
Stock Based Compensation 9 | mo	15
Stock Based Compensation 10 | shares	30,000
Stock Based Compensation 11 | $	$ 790,000
Stock Based Compensation 12 | $	$ 229
Stock Based Compensation 12 | shares	95,000
Stock Based Compensation 13 | shares	25,000
Stock Based Compensation 14 | d	30
Stock Based Compensation 15 | shares	70,000
Stock Based Compensation 16 | mo	14
Stock Based Compensation 17 | shares	30,000
Stock Based Compensation 18 | $	$ 751,000
Stock Based Compensation 20 | $	229
Stock Based Compensation 19 | $	$ 20,000
Stock Based Compensation 20 | shares	19,000
Stock Based Compensation 21 | $	$ 6.24
Stock Based Compensation 22 | $	171
Stock Based Compensation 23 | $	$ 62,000

LOSS PER SHARE (Narrative) (Det

LOSS PER SHARE (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018shares
Loss Per Share 1	4,981,019
Loss Per Share 2	1,176,286
Loss Per Share 3	4,059,824
Loss Per Share 4	1,354,257

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details)	3 Months Ended
	Feb. 28, 2018USD ($)shares
Subsequent Events 1	$ 2,000,000
Subsequent Events 2 | shares	320,513
Subsequent Events 3 | shares	320,513
Subsequent Events 4	$ 7,000,000
Subsequent Events 5	$ 16,000,000
Subsequent Events 6	128,077
Subsequent Events 7	128,077
Subsequent Events 8	$ 6.24
Subsequent Events 9	$ 800,000
Subsequent Events 6 | shares	622,387
Subsequent Events 7	$ 6.24
Subsequent Events 8	3,900,000
Subsequent Events 9	741,000
Subsequent Events 10	6.24
Subsequent Events 11	$ 6.24
Subsequent Events 12 | shares	118,736
Subsequent Events 13 | shares	118,736
Subsequent Events 14	$ 6.24
Subsequent Events 19	381,000
Subsequent Events 20	0.52
Subsequent Events 21 | shares	160,256
Subsequent Events 22	6.24
Subsequent Events 23	1,000,000
Subsequent Events 24	311,000

Condensed Balance Sheet (Detail

Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Nov. 30, 2017	Feb. 28, 2017	Nov. 30, 2016
Additional paid-in capital	$ 61,079	$ 55,334
Accumulated deficit	(49,731)	(44,120)
Total equity	19,478	$ 14,123	$ 10,507	$ 12,497
As reported Previously [Member]
Additional paid-in capital	45,062
Accumulated deficit	(38,833)
Total equity	5,715
Impact of adoption [Member]
Additional paid-in capital	3,838
Accumulated deficit	954
Total equity	4,792
As revised [Member]
Additional paid-in capital	48,900
Accumulated deficit	(37,879)
Total equity	$ 10,507

Condensed Income Statement (Det

Condensed Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2017
Financial expenses, net	$ 2,681		$ 2,075
Loss before income taxes	5,873	$ 5,610	5,610
Net loss	5,611		$ 6,126
As reported Previously [Member]
Financial expenses, net	4,948
Loss before income taxes	8,483
Net loss	8,999
Impact of adoption [Member]
Financial expenses, net	(2,873)
Loss before income taxes	(2,873)
Net loss	(2,873)
As revised [Member]
Financial expenses, net	2,075
Loss before income taxes	5,610
Net loss	$ 6,126

Schedule of Segment Information

Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Revenues from external customers	$ 2,636	$ 1,852
Cost of revenues	(1,644)	(1,905)
Gross profit (loss)	992	(53)
Research and development expenses, net	(766)	(741)
Other income	316	0
Operating profit (loss)	(3,238)	(3,446)
Depreciation and amortization expense	(637)	(592)
Segment Performance	2,148	2,788
CDMO [Member]
Revenues from external customers	3,181	2,144
Cost of revenues	(1,725)	(1,861)
Gross profit (loss)	1,456	283
Research and development expenses, net	0
Operating expenses	(1,080)	1,712
Other income	316
Operating profit (loss)	692	1,995
Depreciation and amortization expense	(595)	(592)
Segment Performance	97	1,403
CTB [Member]
Revenues from external customers	0
Cost of revenues	0
Gross profit (loss)	0
Research and development expenses, net	(887)	(601)
Operating expenses	(1,356)	(3,590)
Other income	0
Operating profit (loss)	(2,243)	(4,191)
Depreciation and amortization expense	(2)
Segment Performance	(2,245)	(4,191)
Corporate and Eliminations [Member]
Revenues from external customers	(545)	(292)
Cost of revenues	240	167
Gross profit (loss)	(305)	(125)
Research and development expenses, net	305	125
Operating expenses	0
Other income	0
Operating profit (loss)	0	0
Consolidated [Member]
Revenues from external customers	2,636	1,852
Cost of revenues	(1,485)	(1,694)
Gross profit (loss)	1,151	158
Research and development expenses, net	(582)	(476)
Operating expenses	(2,436)	(1,878)
Other income	316
Operating profit (loss)	$ (1,551)	$ (2,196)

Schedule Of Reconciliation of S

Schedule Of Reconciliation of Segment Performance (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2017
Segment Performance	$ (2,148)		$ (2,788)
Stock-based compensation	(1,090)		(679)
Financial income (expenses), net	(2,681)		(2,054)
Share in losses of associated company	46		(89)
Loss before income tax	$ (5,873)	$ (5,610)	$ (5,610)

Schedule of Revenues from Major

Schedule of Revenues from Major Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Revenues	$ 2,636	$ 1,852
Customer A [Member]
Revenues	894	1,189
Customer B [Member]
Revenues	957	0
Customer C [Member]
Revenues	971	292
Customer D [Member]
Revenues	$ 0	$ 255

Schedule of Fair Value of Loan

Schedule of Fair Value of Loan Agreement (Details) $ in Thousands	Feb. 28, 2018USD ($)
Warrants component	$ 2,641
Shares component	4,147
Total	$ 6,788

Schedule of Fair Value of Instr

Schedule of Fair Value of Instruments for Financing (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Nov. 30, 2017
Warrants component	$ 187	$ 972
Shares component	313	1,609
Total	$ 500	$ 2,581

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (ESOP) Disclosures (Details) - Options Granted to Employees [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Feb. 28, 2018USD ($)$ / sharesshares
No. of options granted | shares	50,000
Exercise price | $ / shares	$ 4.42
Vesting period	1 year
Fair value at grant | $	$ 163
Expiration period	10 years

Schedule of Share-based Compens

Schedule of Share-based Compensation, Stock Options Granted to Consultants (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Feb. 28, 2018USD ($)$ / sharesshares
Non-employee 1 [Member]
No. of options granted | shares	5,200
Exercise price | $ / shares	$ 4.42
Vesting period	6 years
Fair value at grant | $	$ 20
Expiration period	10 years
Non-employee 2 [Member]
No. of options granted | shares	8,333
Exercise price | $ / shares	$ 6.4
Vesting period	5 years
Fair value at grant | $	$ 48
Expiration period	10 years

Schedule of Share-based Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended
	Feb. 28, 2018$ / shares
Options Granted to Employees [Member]
Value of one common share	$ 4.42
Dividend yield	0.00%
Expected stock price volatility	97.00%
Risk free interest rate	2.11%
Expected term (years)	5 years
Options Granted to Non- Employees [Member]
Dividend yield	0.00%
Expected term (years)	10 years
Minimum [Member] | Options Granted to Non- Employees [Member]
Value of one common share	$ 4.42
Expected stock price volatility	97.00%
Risk free interest rate	2.33%
Maximum [Member] | Options Granted to Non- Employees [Member]
Value of one common share	$ 6.4
Expected stock price volatility	98.00%
Risk free interest rate	2.54%

Schedule of Earnings Per Share,

Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Loss for the period	$ (5,611)	$ (6,126)
Weighted average number of common shares outstanding	10,775,877	9,285,429
Loss per common share	$ 0.52	$ 0.66
Earnings (loss) for the period	$ (5,611)	$ (6,126)
Weighted average number of shares used in the computation of basic and diluted loss per share	10,775,877	9,285,429
Loss per common share	$ 0.52	$ 0.66

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Nov. 30, 2017
Embedded derivatives convertible loans	$ 154	$ 37
Call/Put option derivatives	$ (339)	$ (339)

Schedule of Fair Value, Assumpt

Schedule of Fair Value, Assumptions Used (Details)	3 Months Ended
	Feb. 28, 2018$ / shares
Fair value of shares of common stock	$ 7.9
Expected volatility	128.00%
Risk free interest rate	1.58%
Expected term (years)	2 months 1 day
Expected dividend yield	0.00%

Schedule of Fair Value of Finan

Schedule of Fair Value of Financial Liabilities, Activity (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Nov. 30, 2017
Embedded derivatives, beginning balance	$ 37
Embedded derivatives, ending balance	154	$ 37
Embedded Derivative [Member]
Embedded derivatives, beginning balance	37	240
Repayment	(14)	(876)
Changes in fair value during the period	131	662
Translation adjustments		11
Embedded derivatives, ending balance	154	37
Convertible Bonds [Member]
Convertible bonds, beginning balance	0	1,818
Repayment		(1,827)
Changes in fair value during the period		22
Translation adjustments		(13)
Convertible bonds, ending balance		0
Put Option Derivative [Member]
Put option derivative, beginning balance	(339)	273
Repayment	0
Changes in fair value during the period	0	(612)
Put option derivative, ending balance	$ (339)	$ (339)