Arcturus Therapeutics 20-F 4 Mar 16 2015 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2015shares
Document Information [Line Items]
Entity Registrant Name	ALCOBRA LTD.
Entity Central Index Key	1,566,049
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	ADHD
Entity Common Stock, Shares Outstanding	27,560,920
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents		$ 16,658	$ 2,176
Short-term bank deposits		34,022	19,522
Prepaid expenses and other receivables		1,666	428
Total current assets		52,346	22,126
LONG-TERM ASSETS:
Long-term bank deposits		19,000	0
Property and equipment, net		227	97
Other long-term assets		110	95
Total long-term assets		19,337	192
TOTAL ASSETS		71,683	22,318
CURRENT LIABILITIES:
Trade payables		57	305
Accrued expenses and other liabilities		2,295	2,070
Total current liabilities		2,352	2,375
SHAREHOLDERS' EQUITY
Ordinary shares of NIS 0.01 par value - 50,000,000 shares authorized at December 31, 2015 and 2014; 27,865,244 and 14,007,046 issued shares at December 31, 2015 and 2014, respectively; 27,560,920 and 13,702,722 shares outstanding at December 31, 2015 and 2014, respectively		$ 74	$ 39
Treasury shares - 304,324 ordinary shares at December 31, 2015 and 2014	[1]
Additional paid- in capital		$ 140,274	$ 71,472
Accumulated deficit		(71,017)	(51,568)
Total shareholders' equity		69,331	19,943
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$ 71,683	$ 22,318
[1]	Represents an amount less than $ 1.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2015	Dec. 31, 2014
Common stock, par value	₪ 0.01	₪ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	27,865,244	14,007,046
Common stock, shares outstanding	27,560,920	13,702,722
Treasury stock, shares	304,324	304,324

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Research and development expenses	$ 13,461	$ 25,105	$ 7,066
Pre-commercialization expenses	1,245	2,134	0
General and administrative expenses	4,992	5,839	3,224
Operating loss	19,698	33,078	10,290
Financial expenses (income), net	(300)	(227)	197
Net loss before taxes	19,398	32,851	10,487
Tax expenses (benefits)	51	(17)	61
Net loss	$ 19,449	$ 32,834	$ 10,548
Basic and diluted net loss per share (in dollars per share)	$ (0.90)	$ (2.40)	$ (1.04)
Weighted average number of ordinary shares used in computing basic and diluted net loss per share (in shares)	21,638,207	13,674,818	10,177,786

STATEMENTS OF CHANGES IN SHAREH

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total		Common Stock [Member]		Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2012	$ (567)		$ 4		$ 7,615	$ (8,186)		[1]
Balance (in shares) at Dec. 31, 2012			7,794,256				304,324
Issuance of shares upon exercise of options	$ 29		$ 1		28	0	$ 0
Issuance of shares upon exercise of options (in shares)			208,708				0
Issuance of shares upon cashless exercise of warrants		[1]		[1]	0	0	$ 0
Issuance of shares upon cashless exercise of warrants (in shares)			85,192				0
Issuance of shares upon conversion of convertible notes	$ 980			[1]	980	0	$ 0
Issuance of shares upon conversion of convertible notes (in shares)			123,553				0
Issuance of shares upon initial public offering	21,920		$ 28		21,892	0	$ 0
Issuance of shares upon initial public offering (in shares)			3,125,000				0
Issuance of shares upon secondary public offering	35,334		$ 6		35,328	0	$ 0
Issuance of shares upon secondary public offering (in shares)			2,300,000				0
Share-based compensation	1,540		$ 0		1,540	0	$ 0
Net loss	(10,548)		0		0	(10,548)	$ 0
Balance at Dec. 31, 2013	$ 48,688		$ 39		67,383	(18,734)		[1]
Balance (in shares) at Dec. 31, 2013			13,636,709				304,324
Issuance of shares upon exercise of options		[1]		[1]	0	0	$ 0
Issuance of shares upon exercise of options (in shares)			1,174				0
Issuance of shares upon cashless exercise of warrants		[1]		[1]	0	0	$ 0
Issuance of shares upon cashless exercise of warrants (in shares)			64,839				0
Share-based compensation	$ 4,089		$ 0		4,089	0	$ 0
Net loss	(32,834)		0		0	(32,834)	$ 0
Balance at Dec. 31, 2014	19,943		$ 39		71,472	(51,568)		[1]
Balance (in shares) at Dec. 31, 2014			13,702,722				304,324
Issuance of shares upon exercise of options	13			[1]	13	0	$ 0
Issuance of shares upon exercise of options (in shares)			4,000				0
Issuance of shares upon initial public offering	27,903		$ 19		27,884	0	$ 0
Issuance of shares upon initial public offering (in shares)			7,475,000				0
Issuance of shares upon secondary public offering	38,556		$ 16		38,540	0	$ 0
Issuance of shares upon secondary public offering (in shares)			6,379,198				0
Share-based compensation	2,365		$ 0		2,365	0	$ 0
Net loss	(19,449)		0		0	(19,449)	$ 0
Balance at Dec. 31, 2015	$ 69,331		$ 74		$ 140,274	$ (71,017)		[1]
Balance (in shares) at Dec. 31, 2015			27,560,920				304,324
[1]	Represents an amount less than $ 1.

STATEMENTS OF CHANGES IN SHARE6

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2013
IPO [Member]
Share Price	$ 4	$ 8
Equity Issuance Cost	$ 203	$ 3,080
Secondary Public Offering [Member]
Share Price	$ 6.50	$ 16.50
Equity Issuance Cost	$ 421	$ 2,616

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	$ (19,449)	$ (32,834)	$ (10,548)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	51	31	9
Share based compensation	2,365	4,089	1,540
Increase in prepaid expenses and other receivables	(1,077)	(313)	(32)
Increase in other long-term assets	(15)	(38)	(54)
Increase (decrease) in trade payables	(248)	258	24
Increase in accrued expenses and other liabilities	225	481	1,505
Interest on convertible notes	0	0	203
Net cash used in operating activities	(18,148)	(28,326)	(7,353)
Cash flows from investing activities
Purchase of property and equipment, net	(181)	(79)	(39)
Proceeds from (investment in) short-term bank deposit	(14,500)	8,486	(28,008)
Investment in long-term bank deposit	(19,000)	0	0
Investment in restricted bank deposit	(161)	0	0
Net cash provided by (used in) investing activities	(33,842)	8,407	(28,047)
Cash flows from financing activities
Proceeds from issuance of convertible notes	0	0	115
Issuance of share capital upon public offering	66,459	0	57,254
Exercise of options	13	0	29
Net cash provided by financing activities	66,472	0	57,398
Increase (decrease) in cash and cash equivalents	14,482	(19,919)	21,998
Cash and cash equivalents at the beginning of the year	2,176	22,095	97
Cash and cash equivalents at the end of the year	16,658	2,176	22,095
Non-cash transactions:
Issuance of ordinary shares upon conversion of convertible notes	$ 0	$ 0	$ 980

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	GENERAL a. Alcobra Ltd. was incorporated in Israel and commenced its operation on February 7, 2008. During July 2013, a wholly-owned subsidiary was established in the state of Delaware named Alcobra Inc. (the "Subsidiary"). b. Alcobra Ltd. and its Subsidiary (collectively the “Company”) are an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug candidate, to treat Attention Deficit Hyperactivity Disorder, ("ADHD"), and other cognitive dysfunctions including Fragile X. The Company's objective is to conduct additional clinical trials for its drug called MDX (the "Drug") and, if those trials are successful, seek marketing approval from the U.S. Food and Drug Administration (the "FDA") and other worldwide regulatory bodies. c. The Company has not generated revenue from the sale of any product, and does not expect to generate significant revenue unless and until the Company obtains marketing approval and commercializes the Drug. During the year ended December 31, 2015, the Company has incurred losses of $ 19,449 18,148 71,017 d. During January and November 2015, the Company completed public offerings and issued 7,475,000 6,379,198 27,903 38,556

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). Use of estimates: The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates b. Financial statements in U.S. dollars: The Company finances its operations in U.S. dollars. The majority of the Company's operations are currently conducted in Israel, a significant part of the Company's expenses are denominated and determined in U.S. dollars. The Company's management believes that the dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company's transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been remeasured to U.S. dollars in accordance with ASC 830, "Foreign Currency Matters", of the Financial Accounting Standards Board ("FASB"). All transaction gains and losses from remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of operations as financial income or expenses, as appropriate. Principles of consolidation: The consolidated financial statements include the accounts of Alcobra Ltd. and its Subsidiary. Intercompany transactions and balances have been eliminated upon consolidation. Cash equivalents: Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition. Bank deposits: Bank deposits with maturities of more than three months but less than one year are included in short-term bank deposits. Such short-term deposits are stated at cost which approximates market values. Bank deposits with maturities of more than one year are included in long-term bank deposits. Deposits as of December 31, 2015 do not have contractual maturities that exceed 2 years. Such long-term deposits are stated at cost which approximates market values. As of December 31, 2015, the Company's bank deposits were in U.S. dollars and bore interest at a weighted average annual 1.24 Property and equipment, net: % Computers and electronic equipment 15 33 Office furniture and equipment 6 Clinical and medical equipment 15 Leasehold improvement The shorter of term of the lease or the useful life of the asset The Company's property and equipment are reviewed for impairment in accordance with ASC 360, "Property, Plant, and Equipment," 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 an asset 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 the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. In 2015 and 2014, no impairment losses have Other long-term assets: Other long-term assets mainly include long-term deposits for office lease and motor vehicles under operating leases, presented at their cost. Research and development expenses: Research and development expenses are expensed as incurred. Those expenses include payments to third party clinical consultants, expenses related to conducting clinical and pre-clinical trials, salaries and related personnel expenses, travel expenses and share based compensation expenses to research and development employees. During 2015, 2014 and 2013, no grants were received. i. Severance pay: The Company's liability for its Israeli employees regarding severance pay is pursuant to Section 14 of the Israeli severance pay law ("Section 14"). All the Israeli employees are included under this section, and entitled only to monthly deposits, at a rate of 8.33 Severance pay expense for the years ended December 31, 2015, 2014 and 2013, amounted to $ 130 102 26 Employee benefit plan: Since 2014, the Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Participants in the U.S. Plan may elect to defer a portion of their pre-tax earnings, up to the Internal Revenue Service annual contribution limit. The Company matches 100 3 Total employer 401(k) contributions for the years ended December 31, 2015 and 2014 were $ 21 Income taxes: The Company accounts for income taxes in accordance with ASC 740, "Income Taxes" ("ASC 740"). This topic prescribes the use of the liability method whereby deferred tax assets and liability account balances are determined based on 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 provides a valuation allowance, to reduce deferred tax assets to the amount that is more likely than not to be realized. 50 As of December 31, 2015 and 2014 the Company has not recorded a liability for uncertain tax positions. Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and bank deposits. Cash and cash equivalents and short term bank deposits are invested in major banks in Israel. Generally, these deposits may be redeemed upon demand and therefore bear minimal risk . The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. m. Fair value of financial instruments: The Company has no financial instruments that are measured at fair value. The carrying amounts of cash and cash equivalents, short term bank deposits, accounts receivable and accounts payable, approximate their fair value due to the short-term maturities of such instruments. Basic and diluted net loss per share: Basic net loss per share is computed based on the weighted average number of ordinary shares outstanding during each year. Diluted net loss per share is computed based on the weighted average number of ordinary shares outstanding during each year plus dilutive potential equivalent ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earnings per Share." The total weighted average number of shares related to the outstanding options and warrants excluded from the calculations of diluted net loss per share, since they would have an anti-dilutive effect, was 1,755,766 1,053,055 873,031 Accounting for share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718") that requires the measurement and recognition of compensation expense based on estimated fair values for all share-based payment awards made to employees and directors. ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the option award is recognized as an expense over the requisite service periods in the Company's statements of operations based on the accelerated method. The Company selected the Black-Scholes-Merton ("Black-Scholes") option-pricing model as the fair value method for of its share-options awards. The option-pricing model requires a number of assumptions as noted below: Expected dividend yield Volatility Risk free interest rate Expected term ASC 718 provides the factors to consider when estimating the expected term of an option: An option's expected term must at least include the vesting period and the employees' historical exercise and post-vesting employment termination behavior for similar grants. It also determines that if the amount of past exercise data is limited, that data may not represent a sufficiently large sample on which to base a robust conclusion on expected exercise behavior. In that circumstance, it may be appropriate to consider external data or the SEC staff's "simplified" method for the expected term. Accordingly, the Company used the "simplified" method, meaning the expected life can be set as the average of the vesting period for each vested tranche of options and the contractual term for those options. The Company used the Black-Scholes option-pricing model to determine the fair value of grants made in 2015, 2014 and 2013. Year ended December 31, 2015 2014 2013 Risk-free interest rate 0.9-2.1 % 0.7-2.8 % 0.8-2.4 % Expected option term (years) 2.3-7 3-10 5.3-10 Expected price volatility 78-87 % 65-89 % 69-88 % Dividend yield - - - Weighted average grant date fair value $ 4.10 $ 1.67 $ 7.76 New accounting pronouncements: In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 defines management’s responsibility to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures if there is substantial doubt about its ability to continue as a going concern. The pronouncement is effective for annual reporting periods ending after December 15, 2016 with early adoption permitted. The Company is currently evaluating the effect, if any, that the adoption of this guidance will have on the Company’s financial statements.

PREPAID EXPENSES AND OTHER RECE

PREPAID EXPENSES AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2015
Receivables and Prepaid Expenses [Abstract]
Prepaid Expenses And Other Receivables [Text Block]	PREPAID EXPENSES AND OTHER RECEIVABLES December 31, 2015 2014 Government authorities $ 116 $ 117 Prepaid expenses 1,296 311 Restricted cash 161 - Other current assets 93 - $ 1,666 $ 428

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	PROPERTY AND EQUIPMENT, NET December 31, 2015 2014 Cost: Computers and electronic equipment $ 146 $ 63 Office furniture and equipment 84 41 Clinical and medical equipment 15 14 Leasehold improvement 93 39 338 157 Accumulated depreciation: Computers and electronic equipment 50 30 Office furniture and equipment 7 3 Clinical and medical equipment 12 10 Leasehold improvement 42 17 111 60 Depreciated cost $ 227 $ 97 Depreciation expenses for the years ended December 31, 2015, 2014 and 2013, were $ 51 31 9

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	ACCRUED EXPENSES AND OTHER LIABILITIES December 31, 2015 2014 Employees and payroll accruals $ 1,277 $ 308 Accrued expenses 888 1,697 Government authorities 59 65 Other liability 71 - $ 2,295 $ 2,070

CONVERTIBLE NOTES

CONVERTIBLE NOTES	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	CONVERTIBLE NOTES During 2012 and 2013, the Company issued convertible promissory notes to certain investors for a total amount of $ 715 6 In connection with the Company's Initial Public Offering ("IPO"), in May 2013, according to the terms of the convertible notes, in May 2013 the notes were automatically converted into 123,553 980 203

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 7:- INCOME TAXES a. Tax laws applicable to Alcobra Ltd. and the Subsidiary: 1. Alcobra Ltd. is taxed under the Israeli income tax law. Taxable income of Israeli companies is subject to tax at the rate of 25 26.5 On January 4, 2016, the Israeli Parliament's Plenum approved by a second and third reading the Bill for Amending the Income Tax Ordinance (No. 217) (Reduction of Corporate Tax Rate), 2015, which consists of the reduction of the corporate tax rate from 26.5 25 2. The Subsidiary is taxed under U.S. tax law. The federal tax rates applicable to the Company whose place of incorporation is within the United States. are corporate (progressive) tax at the rate of up to 35 b. Net operating losses carry forward: Alcobra Ltd. has accumulated losses for tax purposes in Israel as of December 31, 2015 in the amount of approximately $ 48,000 c. 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. December 31, 2015 2014 Operating loss carry forward $ 12,791 $ 7,595 Reserves and allowances 4,688 5,073 Deferred tax assets before valuation allowance 17,479 12,668 Valuation allowance (17,479) (12,668) Net deferred tax assets $ - $ - All deferred taxes are domestic. Management currently believes that since the Company has a history of losses it is more likely than not that the deferred tax regarding the loss carry forward and other temporary differences will not be realized in the foreseeable future. d. No liability for uncertain tax positions was recorded as of December 31, 2015 and 2014. e. The main reconciling item between the statutory tax rate of the Company and the effective tax rate is the recognition of valuation allowances in respect of deferred taxes due to the uncertainty of the realization of such deferred taxes. f. December 31, 2015 2014 2013 Domestic (Israel) $ 19,003 $ 31,154 $ 10,505 Foreign (U.S.) 395 1,697 (18) $ 19,398 $ 32,851 $ 10,487 g. Taxes on income relate solely to the foreign Subsidiary.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 8:- CONTINGENT LIABILITIES AND COMMITMENTS a. Legal Proceedings: On November 19, 2014, a class action lawsuit was filed against the Company and certain of its current and former officers and directors in the United States District Court for the Southern District of New York. The case was filed on behalf of a putative class of investors who purchased or acquired the Company's publicly traded securities between March 28, 2014 and November 14, 2014. The complaint asserted violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint alleged, among other things, that the Company's officers and directors made false or misleading statements relating to the results of the Phase III study for its MDX drug candidate. The complaint sought an unspecified amount of damages, as well as other forms of relief. On December 16, 2014, another class action lawsuit was filed against the Company and certain of its current and former officers and directors in the United States District Court for the Southern District of New York. This complaint is largely identical to the earlier complaint and purports to bring the same claims on behalf of the same putative class. On December 23, 2014, the first plaintiff in the first action moved to voluntarily dismiss his case, which motion was granted on December 30, 2014. On February 9, 2015, the court appointed a group of investors to act as lead plaintiff for the second action. On May 20, 2015, the defendants moved to dismiss the complaint. The motion to dismiss has been fully briefed and oral argument occurred on September 22, 2015. At this preliminary stage the Company cannot assess the exposure under such complaint. b. Lease commitments: Facilities of the Company are rented under operating lease agreements, which expire on various dates, the latest of which is in 2018. The Company recognizes rent expense under such arrangements on a straight-line basis. In June 2013 the Company entered into a new operating lease agreement for its vehicles until 2016. 22 Minimum Minimum Facilities Vehicles Lease Lease Year ended December 31, Payments Payments Total 2016 $ 511 $ 12 $ 523 2017 396 - 396 2018 193 - 193 $ 1,100 $ 12 $ 1,112 Facilities rent expense, not including sublease income, was $ 498 179 63 17 The vehicle rent expenses for the years ended December 31, 2015, 2014 and 2013, amounted to $ 110 67 51 In August 2015, the Company moved its headquarters to new offices. The previous lease agreement for the headquarters office will be terminated in April 2017 and the Company is currently seeking for a sublease for the period until the end of the lease agreement. As of December 31, 2015 the Company recognized a loss of $ 71 c. Royalty bearing Government grants: The Company partially financed its research and development expenditures under programs sponsored by the Office of Chief Scientist ("OCS") for the support of certain research and development activities conducted in Israel. In connection with the participation payments received from the OCS in previous years, the Company is committed to pay royalties at a rate of 3 5 up to 100% of the amount of grants received (100% plus interest at LIBOR). 119

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Stockholders Equity Note [Abstract]
Stockholders Equity Note Disclosure [Text Block]	SHAREHOLDERS' EQUITY a. Share capital: The ordinary shares confer upon their holders the right to participate and vote in general shareholders meetings of the Company and to share in the distribution of dividends, if any declared by the Company. b. Issuances of shares: 1. During May 2013, the Company completed an IPO and listed its ordinary shares and issued 3,125,000 21,920 Following the IPO and according to the terms of the convertible notes, the notes were automatically converted into 123,553 120,255 85,192 2. During October 2013, the Company completed a secondary public offering and issued 2,300,000 35,334 3. During January 2015, the Company completed a public offering and issued 7,475,000 27,903 4. During November 2015, the Company completed a public offering and issued 6,379,197 38,556 c. 2010 incentive option plan: up to 2,118,531 5,121 On March 2, 2016 the Company increased its option pool for grants of options to 3,078,102 Year ended December 31, 2015 2014 Weighted Weighted average average Number of exercise Number of exercise options price options price Outstanding at beginning of year 1,540,869 $ 7.30 805,300 $ 6.86 Granted 445,000 $ 5.70 1,154,345 $ 11.29 Exercised (4,000) $ 3.29 - $ - Cancelled* (112,500) $ 23.85 (372,345) $ 18.38 Forfeited (45,000) $ 10.39 (46,431) $ 10.07 Outstanding at end of year 1,824,369 $ 5.83 1,540,869 $ 7.30 Vested and expected to vest 1,824,369 $ 5.83 1,540,869 $ 7.30 Options exercisable at the end of the year 843,661 $ 6.50 640,401 $ 6.24 * On March 31, 2015 the Company granted to its Chief Executive Officer options to purchase 400,000 of the Company's ordinary shares, subject to the cancellation of 112,500 out-of-money options. The Company accounted for the cancellation of options, accompanied by the concurrent grant of options in accordance with ASC 718-20-35-8 and calculated the incremental compensation cost as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date. As of December 31, 2015, the aggregated intrinsic value of outstanding and exercisable options is $ 4,024 2,388 1,940 , 746 Outstanding Exercisable Exercise price Number of Weighted Weighted Number of Weighted Weighted $ $ $ 0.33-3.29 916,305 4.30 2.19 461,421 4.64 1.10 5.63-8.00 666,494 5.38 6.74 192,543 7.06 8.00 12.99-18.49 199,071 8.05 16.63 150,009 7.99 16.60 23.00-23.48 42,500 4.61 23.75 39,688 4.36 23.80 0.33-23.48 1,824,369 5.11 5.83 843,661 5.77 6.50 d. Options granted to consultants: The Company granted options to certain service providers and accounted for these options in accordance with ASC 505-50, "Equity-Based payment to non-employees". Number of Exercise Grant date options price Expiration date February 28, 2010 8,805 $ 2.184 February 28, 2020 February 17, 2011 3,804 $ 0.0005 February 17, 2021 12,609 *) *) All options were fully vested on grant date. e. Warrants granted to underwriters: Number of Exercise Grant date options price Expiration date May 28, 2013 52,084 $ 20 May 28, 2016 f. Share-based payment: Year ended December 31, 2015 2014 2013 Research and development $ 768 $ 1,773 $ 430 Pre-commercialization expenses 308 616 - General and administrative expenses 1,289 1,700 1,110 $ 2,365 $ 4,089 $ 1,540

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	RELATED PARTY BALANCES AND TRANSACTIONS Year ended December 31, 2015 2014 2013 Amounts charged to: General and administrative expense $ - $ 332 $ 268 On March 1, 2008, the Company signed an agreement with a consultant, who is also one of the Company's shareholders, as a contractor to render management, finance and operation services. The Company paid the consultant an amount of $ 7 12 50 In February 2014, the general meeting of the Company's shareholders approved the grant of an annual bonus to the consultant, in the amount of $ 200

FINANCIAL EXPENSES (INCOME), NE

FINANCIAL EXPENSES (INCOME), NET	12 Months Ended
	Dec. 31, 2015
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense Disclosure [Text Block]	FINANCIAL EXPENSES (INCOME), NET Year ended December 31, 2015 2014 2013 Financial expenses: Interest expense $ - $ - $ - Exchange rate 31 2 7 Bank fees 7 10 9 Interest on convertible notes - - 203 38 12 219 Financial income: Exchange rate - 2 - Interest income 338 237 22 338 239 22 Financial expenses (income), net $ (300) $ (227) $ 197

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 12:- SUBSEQUENT EVENS On March 2, 2016 the Company's board of directors resolved to increase the company's option pool to 3,078,102 options and to grant 959,571 options to employees and directors with an exercise price of $4.55 per share.

SIGNIFICANT ACCOUNTING POLICI20

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of estimates: The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates
Financial Statements [Policy Text Block]	b. Financial statements in U.S. dollars: The Company finances its operations in U.S. dollars. The majority of the Company's operations are currently conducted in Israel, a significant part of the Company's expenses are denominated and determined in U.S. dollars. The Company's management believes that the dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company's transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been remeasured to U.S. dollars in accordance with ASC 830, "Foreign Currency Matters", of the Financial Accounting Standards Board ("FASB"). All transaction gains and losses from remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of operations as financial income or expenses, as appropriate.
Consolidation, Policy [Policy Text Block]	Principles of consolidation: The consolidated financial statements include the accounts of Alcobra Ltd. and its Subsidiary. Intercompany transactions and balances have been eliminated upon consolidation.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash equivalents: Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition.
Bank Deposits Policy [Policy Text Block]	Bank deposits: Bank deposits with maturities of more than three months but less than one year are included in short-term bank deposits. Such short-term deposits are stated at cost which approximates market values. Bank deposits with maturities of more than one year are included in long-term bank deposits. Deposits as of December 31, 2015 do not have contractual maturities that exceed 2 years. Such long-term deposits are stated at cost which approximates market values. As of December 31, 2015, the Company's bank deposits were in U.S. dollars and bore interest at a weighted average annual 1.24
Property, Plant and Equipment, Policy [Policy Text Block]	Property and equipment, net: % Computers and electronic equipment 15 33 Office furniture and equipment 6 Clinical and medical equipment 15 Leasehold improvement The shorter of term of the lease or the useful life of the asset The Company's property and equipment are reviewed for impairment in accordance with ASC 360, "Property, Plant, and Equipment," 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 an asset 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 the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. In 2015 and 2014, no impairment losses have
Other Long term Assets policy text block [Policy Text Block]	Other long-term assets: Other long-term assets mainly include long-term deposits for office lease and motor vehicles under operating leases, presented at their cost.
Research and Development Expense, Policy [Policy Text Block]	Research and development expenses: Research and development expenses are expensed as incurred. Those expenses include payments to third party clinical consultants, expenses related to conducting clinical and pre-clinical trials, salaries and related personnel expenses, travel expenses and share based compensation expenses to research and development employees. During 2015, 2014 and 2013, no grants were received.
Severance Pay [Policy Text Block]	i. Severance pay: The Company's liability for its Israeli employees regarding severance pay is pursuant to Section 14 of the Israeli severance pay law ("Section 14"). All the Israeli employees are included under this section, and entitled only to monthly deposits, at a rate of 8.33 Severance pay expense for the years ended December 31, 2015, 2014 and 2013, amounted to $ 130 102 26
Postemployment Benefit Plans, Policy [Policy Text Block]	Employee benefit plan: Since 2014, the Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Participants in the U.S. Plan may elect to defer a portion of their pre-tax earnings, up to the Internal Revenue Service annual contribution limit. The Company matches 100 3 Total employer 401(k) contributions for the years ended December 31, 2015 and 2014 were $ 21
Income Tax, Policy [Policy Text Block]	Income taxes: The Company accounts for income taxes in accordance with ASC 740, "Income Taxes" ("ASC 740"). This topic prescribes the use of the liability method whereby deferred tax assets and liability account balances are determined based on 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 provides a valuation allowance, to reduce deferred tax assets to the amount that is more likely than not to be realized. 50 As of December 31, 2015 and 2014 the Company has not recorded a liability for uncertain tax positions.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and bank deposits. Cash and cash equivalents and short term bank deposits are invested in major banks in Israel. Generally, these deposits may be redeemed upon demand and therefore bear minimal risk . The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements.
Fair Value of Financial Instruments, Policy [Policy Text Block]	m. Fair value of financial instruments: The Company has no financial instruments that are measured at fair value. The carrying amounts of cash and cash equivalents, short term bank deposits, accounts receivable and accounts payable, approximate their fair value due to the short-term maturities of such instruments.
Earnings Per Share, Policy [Policy Text Block]	Basic and diluted net loss per share: Basic net loss per share is computed based on the weighted average number of ordinary shares outstanding during each year. Diluted net loss per share is computed based on the weighted average number of ordinary shares outstanding during each year plus dilutive potential equivalent ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earnings per Share." The total weighted average number of shares related to the outstanding options and warrants excluded from the calculations of diluted net loss per share, since they would have an anti-dilutive effect, was 1,755,766 1,053,055 873,031
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Accounting for share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, "Compensation - Stock Compensation" ("ASC 718") that requires the measurement and recognition of compensation expense based on estimated fair values for all share-based payment awards made to employees and directors. ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the option award is recognized as an expense over the requisite service periods in the Company's statements of operations based on the accelerated method. The Company selected the Black-Scholes-Merton ("Black-Scholes") option-pricing model as the fair value method for of its share-options awards. The option-pricing model requires a number of assumptions as noted below: Expected dividend yield Volatility Risk free interest rate Expected term ASC 718 provides the factors to consider when estimating the expected term of an option: An option's expected term must at least include the vesting period and the employees' historical exercise and post-vesting employment termination behavior for similar grants. It also determines that if the amount of past exercise data is limited, that data may not represent a sufficiently large sample on which to base a robust conclusion on expected exercise behavior. In that circumstance, it may be appropriate to consider external data or the SEC staff's "simplified" method for the expected term. Accordingly, the Company used the "simplified" method, meaning the expected life can be set as the average of the vesting period for each vested tranche of options and the contractual term for those options. The Company used the Black-Scholes option-pricing model to determine the fair value of grants made in 2015, 2014 and 2013. Year ended December 31, 2015 2014 2013 Risk-free interest rate 0.9-2.1 % 0.7-2.8 % 0.8-2.4 % Expected option term (years) 2.3-7 3-10 5.3-10 Expected price volatility 78-87 % 65-89 % 69-88 % Dividend yield - - - Weighted average grant date fair value $ 4.10 $ 1.67 $ 7.76
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting pronouncements: In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 defines management’s responsibility to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures if there is substantial doubt about its ability to continue as a going concern. The pronouncement is effective for annual reporting periods ending after December 15, 2016 with early adoption permitted. The Company is currently evaluating the effect, if any, that the adoption of this guidance will have on the Company’s financial statements.

SIGNIFICANT ACCOUNTING POLICI21

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following rates: % Computers and electronic equipment 15 33 Office furniture and equipment 6 Clinical and medical equipment 15 Leasehold improvement The shorter of term of the lease or the useful life of the asset
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]	The following assumptions were applied in determining the compensation cost: Year ended December 31, 2015 2014 2013 Risk-free interest rate 0.9-2.1 % 0.7-2.8 % 0.8-2.4 % Expected option term (years) 2.3-7 3-10 5.3-10 Expected price volatility 78-87 % 65-89 % 69-88 % Dividend yield - - - Weighted average grant date fair value $ 4.10 $ 1.67 $ 7.76

PREPAID EXPENSES AND OTHER RE22

PREPAID EXPENSES AND OTHER RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables and Prepaid Expenses [Abstract]
Schedule of Receivables and Prepaid Expenses, Current [Table Text Block]	December 31, 2015 2014 Government authorities $ 116 $ 117 Prepaid expenses 1,296 311 Restricted cash 161 - Other current assets 93 - $ 1,666 $ 428

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	December 31, 2015 2014 Cost: Computers and electronic equipment $ 146 $ 63 Office furniture and equipment 84 41 Clinical and medical equipment 15 14 Leasehold improvement 93 39 338 157 Accumulated depreciation: Computers and electronic equipment 50 30 Office furniture and equipment 7 3 Clinical and medical equipment 12 10 Leasehold improvement 42 17 111 60 Depreciated cost $ 227 $ 97

ACCRUED EXPENSES AND OTHER LI24

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	December 31, 2015 2014 Employees and payroll accruals $ 1,277 $ 308 Accrued expenses 888 1,697 Government authorities 59 65 Other liability 71 - $ 2,295 $ 2,070

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 2014 Operating loss carry forward $ 12,791 $ 7,595 Reserves and allowances 4,688 5,073 Deferred tax assets before valuation allowance 17,479 12,668 Valuation allowance (17,479) (12,668) Net deferred tax assets $ - $ -
Comprehensive Income (Loss) [Table Text Block]	Net loss before taxes is comprised as follows: December 31, 2015 2014 2013 Domestic (Israel) $ 19,003 $ 31,154 $ 10,505 Foreign (U.S.) 395 1,697 (18) $ 19,398 $ 32,851 $ 10,487

CONTINGENT LIABILITIES AND CO26

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Aggregate minimum lease commitments, net of sub-lease proceeds in the amount of $ 22 Minimum Minimum Facilities Vehicles Lease Lease Year ended December 31, Payments Payments Total 2016 $ 511 $ 12 $ 523 2017 396 - 396 2018 193 - 193 $ 1,100 $ 12 $ 1,112

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholders Equity Note [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Year ended December 31, 2015 2014 Weighted Weighted average average Number of exercise Number of exercise options price options price Outstanding at beginning of year 1,540,869 $ 7.30 805,300 $ 6.86 Granted 445,000 $ 5.70 1,154,345 $ 11.29 Exercised (4,000) $ 3.29 - $ - Cancelled* (112,500) $ 23.85 (372,345) $ 18.38 Forfeited (45,000) $ 10.39 (46,431) $ 10.07 Outstanding at end of year 1,824,369 $ 5.83 1,540,869 $ 7.30 Vested and expected to vest 1,824,369 $ 5.83 1,540,869 $ 7.30 Options exercisable at the end of the year 843,661 $ 6.50 640,401 $ 6.24 * On March 31, 2015 the Company granted to its Chief Executive Officer options to purchase 400,000
Schedule of Share-based Compensation, Activity [Table Text Block]	Outstanding Exercisable Exercise price Number of Weighted Weighted Number of Weighted Weighted $ $ $ 0.33-3.29 916,305 4.30 2.19 461,421 4.64 1.10 5.63-8.00 666,494 5.38 6.74 192,543 7.06 8.00 12.99-18.49 199,071 8.05 16.63 150,009 7.99 16.60 23.00-23.48 42,500 4.61 23.75 39,688 4.36 23.80 0.33-23.48 1,824,369 5.11 5.83 843,661 5.77 6.50
Schedule of Other Share-based Compensation, Activity [Table Text Block]	Number of Exercise Grant date options price Expiration date February 28, 2010 8,805 $ 2.184 February 28, 2020 February 17, 2011 3,804 $ 0.0005 February 17, 2021 12,609 *) *) All options were fully vested on grant date. The outstanding options granted to the underwriters for the IPO are as follows: Number of Exercise Grant date options price Expiration date May 28, 2013 52,084 $ 20 May 28, 2016
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	The share-based expense recognized in the consolidated financial statements for services received from employees and directors is shown in the following table: Year ended December 31, 2015 2014 2013 Research and development $ 768 $ 1,773 $ 430 Pre-commercialization expenses 308 616 - General and administrative expenses 1,289 1,700 1,110 $ 2,365 $ 4,089 $ 1,540

RELATED PARTY BALANCES AND TR28

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	Year ended December 31, 2015 2014 2013 Amounts charged to: General and administrative expense $ - $ 332 $ 268

FINANCIAL EXPENSES (INCOME), 29

FINANCIAL EXPENSES (INCOME), NET (Tables)	12 Months Ended
	Dec. 31, 2015
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense Disclosure [Table Text Block]	Year ended December 31, 2015 2014 2013 Financial expenses: Interest expense $ - $ - $ - Exchange rate 31 2 7 Bank fees 7 10 9 Interest on convertible notes - - 203 38 12 219 Financial income: Exchange rate - 2 - Interest income 338 237 22 338 239 22 Financial expenses (income), net $ (300) $ (227) $ 197

GENERAL (Details Textual)

GENERAL (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2015	Jan. 31, 2015
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Net comprehensive loss	$ 19,449	$ 32,834	$ 10,548
Accumulated deficit	71,017
Net Cash Provided by (Used in) Operating Activities	$ (18,148)	$ (28,326)	$ (7,353)
Common Stock, Shares, Issued	27,865,244	14,007,046		6,379,198	7,475,000
Common Stock, Value, Issued	$ 74	$ 39		$ 38,556	$ 27,903

SIGNIFICANT ACCOUNTING POLICI31

SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015
Computer Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Salvage Value, Percentage	15.00%
Computer Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Salvage Value, Percentage	33.00%
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Salvage Value, Percentage	6.00%
Clinical and Medical Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Salvage Value, Percentage	15.00%
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	The shorter of term of the lease or the useful life of the asset

SIGNIFICANT ACCOUNTING POLICI32

SIGNIFICANT ACCOUNTING POLICIES (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Weighted average grant date fair value	$ 4.1	$ 1.67	$ 7.76
Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate	2.10%	2.80%	2.40%
Expected option term	7 years	10 years	10 years
Expected price volatility	87.00%	89.00%	88.00%
Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate	0.90%	0.70%	0.80%
Expected option term	2 years 3 months 18 days	3 years	5 years 3 months 18 days
Expected price volatility	78.00%	65.00%	69.00%

SIGNIFICANT ACCOUNTING POLICI33

SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Line Items]
Short Term Deposit Weighted Average Interest Rate	1.24%
Percentage of Severance Pay	8.33%
Severance Costs	$ 130	$ 102	$ 26
Minimum Percentage of Cumulative Basis To Be Realized Upon Ultimate Settlement On Measure Tax Benefit	50.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,755,766	1,053,055	873,031
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 21	$ 21
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	3.00%

PREPAID EXPENSES AND OTHER RE34

PREPAID EXPENSES AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Receivables And Prepaid Expenses [Line Items]
Government authorities	$ 116	$ 117
Prepaid expenses	1,296	311
Restricted cash	161	0
Other current assets	93	0
Prepaid expenses and other receivables	$ 1,666	$ 428

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 338	$ 157
Accumulated Depreciation, Property, Plant, and Equipment	111	60
Depreciated cost	227	97
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	146	63
Accumulated Depreciation, Property, Plant, and Equipment	50	30
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	84	41
Accumulated Depreciation, Property, Plant, and Equipment	7	3
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	93	39
Accumulated Depreciation, Property, Plant, and Equipment	42	17
Clinical and Medical Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15	14
Accumulated Depreciation, Property, Plant, and Equipment	$ 12	$ 10

PROPERTY AND EQUIPMENT, NET (36

PROPERTY AND EQUIPMENT, NET (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Depreciation	$ 51	$ 31	$ 9

ACCRUED EXPENSES AND OTHER LI37

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts Payable and Accrued Liabilities [Line Items]
Employees and payroll accruals	$ 1,277	$ 308
Accrued expenses	888	1,697
Government authorities	59	65
Other liability	71	0
Accounts Payable, Other, Current	$ 2,295	$ 2,070

CONVERTIBLE NOTES (Details Text

CONVERTIBLE NOTES (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Short-term Debt [Line Items]
Proceeds from Convertible Debt		$ 0	$ 0	$ 115
Debt Instrument, Interest Rate During Period				6.00%
Interest Expense, Debt				$ 203
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Proceeds from Convertible Debt				$ 715	$ 715
IPO [Member]
Short-term Debt [Line Items]
Debt Conversion, Converted Instrument, Shares Issued	123,553
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature	$ 980

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Operating loss carry forward	$ 12,791	$ 7,595
Reserves and allowances	4,688	5,073
Deferred tax assets before valuation allowance	17,479	12,668
Valuation allowance	(17,479)	(12,668)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Comprehensive Income (Loss), Tax [Abstract]
Net comprehensive loss (income) before taxes	$ 19,398	$ 32,851	$ 10,487
Domestic (Israel) [Member]
Other Comprehensive Income (Loss), Tax [Abstract]
Net comprehensive loss (income) before taxes	19,003	31,154	10,505
Foreign (U.S) [Member]
Other Comprehensive Income (Loss), Tax [Abstract]
Net comprehensive loss (income) before taxes	$ 395	$ 1,697	$ (18)

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($) $ in Thousands	Jan. 04, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent		26.50%	26.50%	25.00%
Operating Loss Carryforwards		$ 48,000
Maximum [Member] | Subsequent Event [Member]
Income Taxes [Line Items]
Reduced Corporate Tax Rate	26.50%
Minimum [Member] | Subsequent Event [Member]
Income Taxes [Line Items]
Reduced Corporate Tax Rate	25.00%
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent		35.00%

CONTINGENT LIABILITIES AND CO42

CONTINGENT LIABILITIES AND COMMITMENTS (Details) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ 523
2,017	396
2,018	193
Operating Leases, Future Minimum Payments Due	1,112
Minimum Facilities Lease Payments [Member]
Operating Leased Assets [Line Items]
2,016	511
2,017	396
2,018	193
Operating Leases, Future Minimum Payments Due	1,100
Minimum Vehicles Lease Payments [Member]
Operating Leased Assets [Line Items]
2,016	12
2,017	0
2,018	0
Operating Leases, Future Minimum Payments Due	$ 12

CONTINGENT LIABILITIES AND CO43

CONTINGENT LIABILITIES AND COMMITMENTS (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Contingent Liabilities And Commitments [Line Items]
Description of Grant Received	up to 100% of the amount of grants received (100% plus interest at LIBOR).
Accrued Royalties	$ 119
Operating Leases, Income Statement, Sublease Revenue	22
Contingent Loss On Lease Termination	$ 71
Office of Chief Scientist [Member] | Maximum [Member]
Contingent Liabilities And Commitments [Line Items]
Royalties percentage	5.00%
Office of Chief Scientist [Member] | Minimum [Member]
Contingent Liabilities And Commitments [Line Items]
Royalties percentage	3.00%
Vehicles [Member]
Contingent Liabilities And Commitments [Line Items]
Operating Leases, Rent Expense, Net	$ 110	$ 67	$ 51
Facilities [Member]
Contingent Liabilities And Commitments [Line Items]
Operating Leases, Rent Expense, Net	498	$ 179	$ 63
Operating Leases, Income Statement, Sublease Revenue	$ 17

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - Employees and Directors [Member] - $ / shares		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, Outstanding at beginning of year		1,540,869	805,300
Number of options, Granted		445,000	1,154,345
Number of options, Exercised		(4,000)	0
Number of options, Cancelled	[1]	(112,500)	(372,345)
Number of options, Forfeited		(45,000)	(46,431)
Number of options, Outstanding at end of year		1,824,369	1,540,869
Number of options, Vested and expected to vest		1,824,369	1,540,869
Number of options, Options exercisable at the end of the period		843,661	640,401
Weighted average exercise price, Outstanding at beginning of year		$ 7.30	$ 6.86
Weighted average exercise price, Granted		5.70	11.29
Weighted average exercise price, Exercised		3.29	0
Weighted average exercise price, Cancelled	[1]	23.85	18.38
Weighted average exercise price, Forfeited		10.39	10.07
Weighted average exercise price, Outstanding at end of year		5.83	7.30
Weighted average exercise price, Vested and expected to vest		5.83	7.30
Weighted average exercise price, Options exercisable at the end of the period		$ 6.50	$ 6.24
[1]	On March 31, 2015 the Company granted to its Chief Executive Officer options to purchase 400,000 of the Company's ordinary shares, subject to the cancellation of 112,500 out-of-money options. The Company accounted for the cancellation of options, accompanied by the concurrent grant of options in accordance with ASC 718-20-35-8 and calculated the incremental compensation cost as the excess of the fair value of the replacement award over the fair value of the cancelled award at the cancellation date.

SHAREHOLDERS' EQUITY (Details 1

SHAREHOLDERS' EQUITY (Details 1)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Exercise price range 0.33-3.29 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of options | shares	916,305
Outstanding, Weighted average remaining contractual life (years)	4 years 3 months 18 days
Outstanding, Weighted average exercise price	$ 2.19
Exercisable, Number of options | shares	461,421
Exercisable, Weighted average remaining contractual life (years)	4 years 7 months 20 days
Exercisable, Weighted average exercise price	$ 1.10
Exercise price Minimum	0.33
Exercise price Maximum	$ 3.29
Exercise price range 5.63-8.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of options | shares	666,494
Outstanding, Weighted average remaining contractual life (years)	5 years 4 months 17 days
Outstanding, Weighted average exercise price	$ 6.74
Exercisable, Number of options | shares	192,543
Exercisable, Weighted average remaining contractual life (years)	7 years 22 days
Exercisable, Weighted average exercise price	$ 8
Exercise price Minimum	5.63
Exercise price Maximum	$ 8
Exercise price range 12.99-18.49 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of options | shares	199,071
Outstanding, Weighted average remaining contractual life (years)	8 years 18 days
Outstanding, Weighted average exercise price	$ 16.63
Exercisable, Number of options | shares	150,009
Exercisable, Weighted average remaining contractual life (years)	7 years 11 months 26 days
Exercisable, Weighted average exercise price	$ 16.60
Exercise price Minimum	12.99
Exercise price Maximum	$ 18.49
Exercise price range 23.00-23.48[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of options | shares	42,500
Outstanding, Weighted average remaining contractual life (years)	4 years 7 months 10 days
Outstanding, Weighted average exercise price	$ 23.75
Exercisable, Number of options | shares	39,688
Exercisable, Weighted average remaining contractual life (years)	4 years 4 months 10 days
Exercisable, Weighted average exercise price	$ 23.80
Exercise price Minimum	23
Exercise price Maximum	$ 23.48
Exercise price range 0.33-23.48 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of options | shares	1,824,369
Outstanding, Weighted average remaining contractual life (years)	5 years 1 month 10 days
Outstanding, Weighted average exercise price	$ 5.83
Exercisable, Number of options | shares	843,661
Exercisable, Weighted average remaining contractual life (years)	5 years 9 months 7 days
Exercisable, Weighted average exercise price	$ 6.50
Exercise price Minimum	0.33
Exercise price Maximum	$ 23.48

SHAREHOLDERS' EQUITY (Details 2

SHAREHOLDERS' EQUITY (Details 2)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Granted to Consultants on February 28, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options	8,805
Exercise price | $ / shares	$ 2.184
Expiration date	Feb. 28, 2020
Granted to Consultants on February 17, 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options	3,804
Exercise price | $ / shares	$ 0.0005
Expiration date	Feb. 17, 2021
Granted to Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options	12,609	[1]
[1]	All options were fully vested on grant date.

SHAREHOLDERS' EQUITY (Details 3

SHAREHOLDERS' EQUITY (Details 3) - Granted to Underwriters on May 28, 2013 [Member]	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options | shares	52,084
Exercise price | $ / shares	$ 20
Expiration date	May 28, 2016

SHAREHOLDERS' EQUITY (Details 4

SHAREHOLDERS' EQUITY (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Benefits and Share-based Compensation, Total	$ 2,365	$ 4,089	$ 1,540
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Benefits and Share-based Compensation, Total	768	1,773	430
Pre Commercialization Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Benefits and Share-based Compensation, Total	308	616	0
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Benefits and Share-based Compensation, Total	$ 1,289	$ 1,700	$ 1,110

SHAREHOLDERS' EQUITY (Details T

SHAREHOLDERS' EQUITY (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May. 31, 2013	Dec. 31, 2015	Dec. 31, 2013	Mar. 02, 2016	Mar. 31, 2015	Feb. 28, 2010
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues		$ 27,903	$ 21,920
Stock Issued During Period Value New Issues One		$ 38,556	$ 35,334
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						2,118,531
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		5,121
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 4,024
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		2,388
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		1,940
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 746
Subsequent Event [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant				3,078,102
Chief Executive Officer [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					400,000
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		7,475,000	3,125,000
Stock Issued During Period, Value, New Issues		$ 19	$ 28
Stock Issued During Period Shares New Issues One		6,379,198	2,300,000
Stock Issued During Period Value New Issues One		$ 16	$ 6
IPO [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Shares Issued	123,553
Number of Warrants Exercised	120,255
Common Shares Issued, Warrants Exercised	85,192

RELATED PARTY BALANCES AND TR50

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2013	Dec. 31, 2012
Amounts charged to:
General and administrative expense	$ 0	$ 332	$ 268

RELATED PARTY BALANCES AND TR51

RELATED PARTY BALANCES AND TRANSACTIONS (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2013	May. 31, 2013	Mar. 31, 2008	Feb. 28, 2014
Related Party Transaction [Line Items]
Agreement Expiration For Finance And Operation Services	May 31, 2014
Consultant [Member]
Related Party Transaction [Line Items]
General Contractor Costs		$ 12	$ 7
Consultant [Member] | Deferred Bonus [Member]
Related Party Transaction [Line Items]
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	$ 50
Consultant [Member] | Deferred Bonus [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount				$ 200

FINANCIAL EXPENSES (INCOME), 52

FINANCIAL EXPENSES (INCOME), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financial expenses:
Interest expense	$ 0	$ 0	$ 0
Exchange rate	31	2	7
Bank fees	7	10	9
Interest on convertible notes	0	0	203
Interest Expense, Total	38	12	219
Financial income:
Exchange rate	0	2	0
Interest income	338	237	22
Interest Income, Securities, Operating	338	239	22
Financial expenses (income), net	$ (300)	$ (227)	$ 197

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - $ / shares	1 Months Ended
	Mar. 02, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		5,121
Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,078,102
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	959,571
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 4.55