Enlivex Therapeutics (ENLV) 20-F 29 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	BIO BLAST PHARMA LTD.
Entity Central Index Key	1,596,812
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	ORPN
Entity Common Stock, Shares Outstanding	14,230,480
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	$ 7,286	$ 10,583
Short-term bank deposits	12,046	22,028
Receivables and prepaid expenses	1,060	274
Total current assets	20,392	32,885
LONG-TERM ASSETS:
Long-term deposits	33	9
Property and equipment, net	91	60
Total long-term assets	124	69
TOTAL ASSETS	20,516	32,954
CURRENT LIABILITIES:
Trade payables	1,412	1,285
Other accounts payable	1,102	995
Total current liabilities	2,514	2,280
LONG TERM LIABILITIES:	70	0
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.01 par value - 50,000,000 shares authorized at December 31, 2015 and 2014; 14,230,480 issued and outstanding shares at December 31, 2015 and 2014	39	39
Additional paid-in capital	41,680	39,057
Accumulated deficit	(23,787)	(8,422)
Total shareholders’ equity	17,932	30,674
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 20,516	$ 32,954

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2015	Dec. 31, 2014
Common stock, par or stated value per share (in dollars per share)	₪ 0.01	₪ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares, issued	14,230,480	14,230,480
Common stock, shares, outstanding	14,230,480	14,230,480

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	$ 7,694	$ 4,441	$ 732
Pre-commercialization expenses	829	0	0
General and administrative expenses	6,953	2,639	416
Operating loss	15,476	7,080	1,148
Financial income, net	(135)	(58)	(3)
Loss before taxes on income	15,341	7,022	1,145
Taxes on income	24	0	0
Net loss	15,365	7,022	1,145
Deemed dividend	0	0	26
Net loss attributable to holders of Ordinary shares	$ 15,365	$ 7,022	$ 1,171
Net basic and diluted loss per share	$ 1.08	$ 0.57	$ 0.14
Weighted average number of Ordinary shares used in computing basic and diluted loss per share	14,230,480	12,259,600	8,423,018

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated deficit [Member]	Preferred Class A [Member]
Balances at Dec. 31, 2012	$ 75	$ 20	$ 283	$ (229)	$ 1
Balance (in shares) at Dec. 31, 2012		7,551,427			566,357
Conversion of Preferred A shares into Ordinary shares	0	$ 1	0	0	$ (1)
Conversion of Preferred A shares into Ordinary shares (in shares)		566,357			(566,357)
Deemed Dividend	0	$ 0	26	(26)	$ 0
Issuance of Ordinary shares, net ($0.95 per share)	991	$ 3	988	0	$ 0
Issuance of Ordinary shares, net ($0.95 per share) (in shares)		1,065,083			0
Share-based compensation	254	$ 0	254	0	$ 0
Net loss	(1,145)	0	0	(1,145)	0
Balance at Dec. 31, 2013	175	$ 24	1,551	(1,400)	$ 0
Balance (in shares) at Dec. 31, 2013		9,182,867			0
Issuance of Ordinary shares, net ($0.95 per share)	1,012	$ 3	1,009	0	$ 0
Issuance of Ordinary shares, net ($0.95 per share) (in shares)		1,065,076			0
Issuance of Ordinary shares upon private placement, net ($6.07 per share)	4,368	$ 3	4,365	0	$ 0
Issuance of Ordinary shares upon private placement, net ($6.07 per share) (in shares)		782,537			0
Issuance of Ordinary shares upon initial public offering net ($11 per share)	31,405	$ 9	31,396	0	$ 0
Issuance of Ordinary shares upon initial public offering net ($11 per share) (in shares)		3,200,000			0
Share-based compensation	736	$ 0	736	0	$ 0
Net loss	(7,022)	0	0	(7,022)	0
Balance at Dec. 31, 2014	30,674	$ 39	39,057	(8,422)	$ 0
Balance (in shares) at Dec. 31, 2014		14,230,480			0
Share-based compensation	2,623	$ 0	2,623	0	$ 0
Net loss	(15,365)	0	0	(15,365)	0
Balance at Dec. 31, 2015	$ 17,932	$ 39	$ 41,680	$ (23,787)	$ 0
Balance (in shares) at Dec. 31, 2015		14,230,480			0

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Shares Issued, Price Per Share	$ 0.95	$ 0.95
Private Placement [Member]
Shares Issued, Price Per Share	6.07
IPO [Member]
Shares Issued, Price Per Share	$ 11

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	$ (15,365)	$ (7,022)	$ (1,145)
Adjustments to reconcile loss to net cash used in operating activities:
Depreciation	17	5	0	[1]
Stock based compensation	2,623	736	254
Interest on short-term bank deposits	(18)	(28)	0
Increase in receivables and prepaid expenses	(786)	(245)	(19)
Increase in long-term deposits	(24)	(4)	(5)
Increase (decrease) in trade payables	127	1,239	(28)
Increase in other accounts payables	107	910	78
Increase in long term liabilities	70	0	0
Net cash used in operating activities	(13,249)	(4,409)	(865)
Cash flows from investing activities
Short-term bank deposits	10,000	(22,000)	0
Purchase of property and equipment	(48)	(63)	(2)
Net cash provided by (used in) investing activities	9,952	(22,063)	(2)
Cash flows from financing activities
Issuance of shares, net	0	36,785	991
Net cash provided by financing activities	0	36,785	991
Increase in cash and cash equivalents	(3,297)	10,313	124
Cash and cash equivalents at the beginning of the year	10,583	270	146
Cash and cash equivalents at the end of the year	$ 7,286	$ 10,583	$ 270
[1]	Represents an amount lower than $1.

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]	NOTE 1:- GENERAL a. Bio Blast Pharma Ltd. (the “Parent”) was incorporated in Israel and commenced its operations on January 22, 2012. In January 2015, a wholly-owned subsidiary of the Parent was established in the state of Delaware named Bio Blast Pharma Inc. (the “Subsidiary”). The Parent and the Subsidiary (together the “Company”) are a clinical-stage biotechnology company committed to developing clinically meaningful therapies for patients with rare and ultra-rare genetic diseases. The Company is building a diverse portfolio of product candidates with the potential to address unmet medical needs for incurable diseases. The Company’s platforms are based on in depth understanding of the disease-causing biological processes, and potentially offer solutions for several diseases that share the same biological pathology. The Company seeks to identify therapeutic platforms that offer solutions for several diseases that share a common pathophysiological mechanism. The Company’s objective is to conduct additional clinical trials for its products and, if those trials are successful, seek marketing approval from the U.S. Food and Drug Administration (the “FDA”) and other worldwide regulatory bodies. The Company’s Ordinary shares are traded on the “NASDAQ Global Market”. b. The Company is engaged in the research and development of products in the biopharmaceutical field, The Company has not generated revenue from the sale of any product, and does not expect to generate significant revenue unless and until it obtains marketing approval, and successfully commercializes its products. The Company recorded a net loss of $ 15,365 23,787 19,332 Company raised $ 6,700 6,100 five and one-half year

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 Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). a. Use of estimates: The preparation of the consolidated 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 consolidated 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 Parent and the Subsidiary Parent and the Subsidiary’s Parent and the Subsidiary’s management Parent and the Subsidiary The Parent and the Subsidiary’s c. 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. d. Short-term bank deposits: Short-term bank deposits are deposits with maturities of more than three months but less than one year. Short–term bank deposits are presented at their amortized cost, including accrued interest, which approximates fair value. As of December 31, 2015, the Company’s bank deposits were in U.S. dollars and bore interest at a weighted average interest rate of 0.925 e. Property and equipment, net: % Computers and software 33 Electronic equipment 15 Office furniture and equipment 6 Leasehold improvements f. Long-term deposits: Long-term deposits include long-term deposits for motor vehicles under operating leases, presented at their cost and deposits to secure credit line for the Subsidiary employee’s credit cards. g. Research and development costs: Research and development costs are expensed as incurred. Those expenses includes payments to third party clinical consultants, expenses related to conducting clinical trials, salaries and related personnel expenses, travel expenses, and share based compensation expenses related to research and development employees. h. Income taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. 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. The Company implements a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% (cumulative basis) likely to be realized upon ultimate settlement. i. Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and short-term bank deposits. Cash and cash equivalents and short-term bank deposits are invested in major banks in Israel and the United States. Generally, these deposits may be redeemed upon demand and therefore bear minimal risk . j. 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. k. Basic and diluted loss per share: Basic net loss per share is computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted 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”. For the years ended December 31, 2015, 2014 and 2013, all outstanding options have been excluded from the calculation of the diluted net loss per share since their effect was anti-dilutive. l. Accounting for share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, “Compensation - Stock Compensation” (“ASC 718”) which 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 stock-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. Year ended December 31, 2015 2014 2013 Risk-free interest rate 1.30% -1.90% 1.55%-2.21% 0.4% Expected option term (years) 5.12-7 5.12-7 3 Expected price volatility 70.4%-83.74% 69.49%-84.63% 73.87% Dividend yield - - - Weighted average grant date fair value 4.16 4.1 7.18 m. Severance pay The Company’s liability for severance pay for its Israeli employees is based upon Israeli severance pay law, as well as, additional contractual obligations. The Company’s liability for all of its Israeli employees is fully provided by an accrual and is mainly funded by monthly deposits with insurance policies. As part of employment agreements, the Company and its Israeli employees agreed to the terms set forth in Section 14 of the Israeli Severance Pay Law, according to which amounts deposited in severance pay funds by the Company shall be the only severance payments released to the employee upon termination of employment, voluntarily or involuntarily. Accordingly, the financial statements do not include the severance pay fund and the severance pay accrual in connection with these employees, as the Company is legally released from the obligation to employees once the deposit amount has been paid. Since 2015, 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% of each participant’s contributions up to 4%. Contributions to the U.S. Plan are recorded during the year contributed as an expense in the consolidated statement of operations. Total employer 401(k) contributions for the years ended December 31, 2015 and 2014 were $ 11 0 The severance expenses for the years ended December 31, 2015 and 2014 amounted to $ 131 34 n. New accounting pronouncements: In February 2016, the FASB issued ASU 2016-02 - Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The ASU is expected to impact our consolidated financial statements as we have certain operating lease arrangements. ASC 842 supersedes the previous leases standard, ASC 840 Leases. The standard is effective on January 1, 2019, with early adoption permitted. In 2014, the Financial Accounting Standards (“FASB”) issued Accounting Standards Update 15-2014, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of uncertainties about an entity’s ability to continue as a Going Concern, which 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.

RECEIVABLES AND PREPAID EXPENSE

RECEIVABLES AND PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2015
Receivables and Prepaid Expenses [Abstract]
Receivables and Prepaid Expenses Disclosure [Text Block]	NOTE 3:- RECEIVABLES AND PREPAID EXPENSES December 31, 2015 2014 Government authorities $ 145 $ 93 Prepaid expenses 915 181 $ 1,060 $ 274

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]	NOTE 4:- PROPERTY AND EQUIPMENT, NET December 31, 2015 2014 Cost: Computers and software $ 54 $ 19 Electronic equipment 19 14 Office furniture and equipment 38 32 Leasehold improvements 2 - $ 113 $ 65 Accumulated depreciation: 22 5 Depreciated cost $ 91 $ 60 Depreciation expenses for the years ended December 31, 2015, 2014 and 2013 were $ 17 5 1

OTHER ACCOUNTS PAYABLE

OTHER ACCOUNTS PAYABLE	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 5:- OTHER ACCOUNTS PAYABLE December 31, 2015 2014 Employees and payroll accruals $ 463 $ 235 Accrued expenses 639 760 $ 1,102 $ 995

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 6:- INCOME TAXES a. Tax laws applicable to the Company: 1. 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 U.S. are corporate (progressive) tax at the rate of up to 35 b. Net operating losses carry forward: The Parent has accumulated losses for tax purposes as of December 31, 2015 in the amount of $ 13,508 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 $ 3,580 $ 181 Reserves and allowances 2,185 1,610 Net deferred tax asset before valuation allowance 5,765 1,791 Valuation allowance (5,765) (1,791) Net deferred tax asset $ - $ - Management currently believes that since the Company has a history of losses it is more likely than not that the deferred tax assets 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) $ 13,388 $ 7,022 $ 1,145 Foreign (U.S) 1,953 - - $ 15,341 $ 7,022 $ 1,145 g. Taxes on income relate solely to the 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 7:- CONTINGENT LIABILITIES AND COMMITMENTS a. The Parent has entered into an operating lease agreement for its facilities in Israel until June 2017. The rent expenses for those facilities for the years ended December 31, 2015, 2014 and 2013 amounted to $ 104 120 15 Year ended December 31, Total 2016 $ 110 2017 43 $ 153 The Parent has provided bank guarantees in the amount of $ 26 b. The Subsidiary has entered into short-term operating lease agreements for its office facilities in New Haven, CT and in Doylestown, PA. The combined rent expenses for those facilities for the year ended December 31, 2015 amounted to $ 36 44 c. In 2014 the Parent entered into a new operating lease agreement for its vehicles until 2017. Future minimum payments under the lease are $ 6 43 25 11 d. License agreement: (i) The Company entered into a Research and Exclusive License Agreement with Yissum Research Development Company of the Hebrew University in Jerusalem Ltd., for the use, development and commercialization of TAT-MTS- Protein for protein replacement in mitochondrial diseases. The consideration to Yissum is composed of a tiered low single digit royalty on net sales and a sublicense fee that will not exceed twenty (20) percent of the sublicense consideration, but, if the sublicense arises from the sales of a product, the sublicense fee shall not be less than a low single digit percent of the gross sales of such product. (ii) The Company entered into an exclusive license agreement with Ramot at Tel Aviv University Ltd. for the use, development and commercialization of our read-through platform. The consideration to Ramot is composed of a tiered low single digit royalty on net sales and a sublicense fee that in the single digit percent range of payments or other consideration that the Company receives in connection with a sublicense.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 8:- SHAREHOLDERS’ EQUITY a. General: b. 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. c. Issuances of share: 1. In June 2013, the Company entered into a share purchase agreement according to which, the Company issued a total of 2,130,159 2,024 566,357 183 26 2. On February 6, 2014, the Company issued 782,537 4,368 3. On August 5, 2014, the Company completed a successful IPO of 3,200,000 11.00 31,405 d. 2013 Incentive option plan: In December 2013, the Company authorized through its 2013 incentive option plan (the “2013 Plan”) the grant of options to officers, directors, advisors, management and other key employees. The options granted have a graded vesting schedule of generally four years and expire ten years after the grant date. Year ended December 31, 2015 2014 Number of options Weighted average exercise price Number of options Weighted average exercise price Outstanding at beginning of year 783,332 $ 4.47 403,110 $ 0.0004 Granted 1,300,170 6.58 380,222 9.21 Outstanding at end of year 2,083,502 5.79 783,332 4.47 Vested and expected to vest 2,083,502 5.79 783,332 4.47 Options exercisable at the end of the year 834,650 $ 4.98 429,589 $ 1.33 As of December 31, 2015, the weighted-average remaining contractual term of the outstanding and exercisable options is 8.52 7.07 1,585 1,575 3,495 Outstanding Exercisable Exercise price Number Weighted average Weighted average exercise Number of options Weighted average Weighted average exercise $ $ $ 0.0004 - 0.95 411,630 6.57 0.02 408,432 6.56 0.01 5.08 - 5.60 779,603 9.76 5.36 - - - 6.04 - 7.17 142,500 7.69 6.22 50,000 5.62 6.49 8.47 - 11.00 749,769 8.45 9.32 376,218 7.83 10.16 0.0004 - 11.00 2,083,502 8.52 5.79 834,650 7.07 4.98 e. Options granted to service providers: 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”. Exercise Grant Date Number of Options *) Price Expiration Date December 2, 2014 20,000 7.78 December 2, 2024 *) All options were fully vested on the grant date. f. Share-based payment: Year ended December 31, 2015 2014 2013 Research and development expenses $ 381 $ 83 $ 44 Pre-commercialization expenses 159 - - General and administrative expenses 2,083 653 210 $ 2,623 $ 736 $ 254

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]	NOTE 9:- RELATED PARTY BALANCES AND TRANSACTIONS December 31, 2015 2014 Trade payable (d) $ - $ 2 Other accounts payable (a) (b) (c) $ 132 $ 123 Year ended December 31, 2015 2014 2013 Amounts charged to: Research and development expense (c) $ 312 $ 145 $ 99 General and administrative expense (a) (b) (c) (d) $ 196 $ 467 $ 257 a. In August, 2012, the Company signed an agreement with a consultant, who is also one of the Company’s shareholders and a director, to render management, finance and operation services. The Company paid the consultant from that date until August 24 an amount of approximately $ 6 15 80 70 b. The Company signed an agreement with a company owned by one of its related parties. Under the agreement, the related company renders the Company with office services and an office lease for a monthly fee in the amount of approximately $ 4 c. A consulting agreement was signed on August 20, 2013 between the Company and one of its shareholders, as a consultant to render management, finance and operation services for an amount of approximately $ 15 19 90 28 d. In July 2013, the Company signed a consulting agreement with one of its shareholders, to render advisory services in a fee of $ 1

FINANCIAL INCOME, NET

FINANCIAL INCOME, NET	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	NOTE 10:- FINANCIAL INCOME, NET Year ended December 31, 2015 2014 2013 Financial expenses: Interest expense $ - $ *) $ 2 Bank fees 12 6 - Exchange rate 39 21 - 51 27 2 Financial income: Interest income 186 85 - Exchange rate - - 5 186 85 5 $ (135) $ (58) $ (3) *) Represents an amount lower than $1.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11:- SUBSEQUENT EVENTS a. On January 11, 2016 the Company appointed a new Chief Financial Officer (“CFO”). As part of his agreement, the new CFO was granted 213,458 4.23 b. On January 21, 2016, the Company’s board of directors resolved to issue 30,000 2.71 c. On February 21, 2016, the Company’s board of directors resolved to issue 1,500 3.00 d. In March 2016, the Company issued 2,161,290 3.10 1,080,645 4.50 6,700 6,100

SIGNIFICANT ACCOUNTING POLICI19

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	a. Use of estimates: The preparation of the consolidated 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 consolidated financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Financial Statements Disclosure [Policy Text Block]	b. Financial statements in U.S. dollars: The Parent and the Subsidiary Parent and the Subsidiary’s Parent and the Subsidiary’s management Parent and the Subsidiary The Parent and the Subsidiary’s
Cash and Cash Equivalents, Policy [Policy Text Block]	c. 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.
Short Term Bank Deposits [Policy Text Block]	d. Short-term bank deposits: Short-term bank deposits are deposits with maturities of more than three months but less than one year. Short–term bank deposits are presented at their amortized cost, including accrued interest, which approximates fair value. As of December 31, 2015, the Company’s bank deposits were in U.S. dollars and bore interest at a weighted average interest rate of 0.925
Property, Plant and Equipment, Policy [Policy Text Block]	e. Property and equipment, net: % Computers and software 33 Electronic equipment 15 Office furniture and equipment 6 Leasehold improvements
Long Term Deposits [Policy Text Block]	f. Long-term deposits: Long-term deposits include long-term deposits for motor vehicles under operating leases, presented at their cost and deposits to secure credit line for the Subsidiary employee’s credit cards.
Research and Development Expense, Policy [Policy Text Block]	g. Research and development costs: Research and development costs are expensed as incurred. Those expenses includes payments to third party clinical consultants, expenses related to conducting clinical trials, salaries and related personnel expenses, travel expenses, and share based compensation expenses related to research and development employees.
Income Tax, Policy [Policy Text Block]	h. Income taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. 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. The Company implements a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% (cumulative basis) likely to be realized upon ultimate settlement.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	i. Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and short-term bank deposits. Cash and cash equivalents and short-term bank deposits are invested in major banks in Israel and the United States. Generally, these deposits may be redeemed upon demand and therefore bear minimal risk .
Fair Value of Financial Instruments, Policy [Policy Text Block]	j. 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]	k. Basic and diluted loss per share: Basic net loss per share is computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted 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”. For the years ended December 31, 2015, 2014 and 2013, all outstanding options have been excluded from the calculation of the diluted net loss per share since their effect was anti-dilutive.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	l. Accounting for share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, “Compensation - Stock Compensation” (“ASC 718”) which 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 stock-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. Year ended December 31, 2015 2014 2013 Risk-free interest rate 1.30% -1.90% 1.55%-2.21% 0.4% Expected option term (years) 5.12-7 5.12-7 3 Expected price volatility 70.4%-83.74% 69.49%-84.63% 73.87% Dividend yield - - - Weighted average grant date fair value 4.16 4.1 7.18
Compensation Related Costs, Policy [Policy Text Block]	m. Severance pay The Company’s liability for severance pay for its Israeli employees is based upon Israeli severance pay law, as well as, additional contractual obligations. The Company’s liability for all of its Israeli employees is fully provided by an accrual and is mainly funded by monthly deposits with insurance policies. As part of employment agreements, the Company and its Israeli employees agreed to the terms set forth in Section 14 of the Israeli Severance Pay Law, according to which amounts deposited in severance pay funds by the Company shall be the only severance payments released to the employee upon termination of employment, voluntarily or involuntarily. Accordingly, the financial statements do not include the severance pay fund and the severance pay accrual in connection with these employees, as the Company is legally released from the obligation to employees once the deposit amount has been paid. Since 2015, 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% of each participant’s contributions up to 4%. Contributions to the U.S. Plan are recorded during the year contributed as an expense in the consolidated statement of operations. Total employer 401(k) contributions for the years ended December 31, 2015 and 2014 were $ 11 0 The severance expenses for the years ended December 31, 2015 and 2014 amounted to $ 131 34
New Accounting Pronouncements, Policy [Policy Text Block]	n. New accounting pronouncements: In February 2016, the FASB issued ASU 2016-02 - Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The ASU is expected to impact our consolidated financial statements as we have certain operating lease arrangements. ASC 842 supersedes the previous leases standard, ASC 840 Leases. The standard is effective on January 1, 2019, with early adoption permitted. In 2014, the Financial Accounting Standards (“FASB”) issued Accounting Standards Update 15-2014, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of uncertainties about an entity’s ability to continue as a Going Concern, which 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 POLICI20

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Property, Plant and Equipment, Estimated Useful Lives, Depreciation Rates [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 software 33 Electronic equipment 15 Office furniture and equipment 6 Leasehold improvements
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following assumptions were applied in determining the compensation cost: Year ended December 31, 2015 2014 2013 Risk-free interest rate 1.30% -1.90% 1.55%-2.21% 0.4% Expected option term (years) 5.12-7 5.12-7 3 Expected price volatility 70.4%-83.74% 69.49%-84.63% 73.87% Dividend yield - - - Weighted average grant date fair value 4.16 4.1 7.18

RECEIVABLES AND PREPAID EXPEN21

RECEIVABLES AND PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables and Prepaid Expenses [Abstract]
Receivables and Prepaid Expenses Disclosure [Table Text Block]	December 31, 2015 2014 Government authorities $ 145 $ 93 Prepaid expenses 915 181 $ 1,060 $ 274

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	December 31, 2015 2014 Cost: Computers and software $ 54 $ 19 Electronic equipment 19 14 Office furniture and equipment 38 32 Leasehold improvements 2 - $ 113 $ 65 Accumulated depreciation: 22 5 Depreciated cost $ 91 $ 60

OTHER ACCOUNTS PAYABLE (Tables)

OTHER ACCOUNTS PAYABLE (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 $ 463 $ 235 Accrued expenses 639 760 $ 1,102 $ 995

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 $ 3,580 $ 181 Reserves and allowances 2,185 1,610 Net deferred tax asset before valuation allowance 5,765 1,791 Valuation allowance (5,765) (1,791) Net deferred tax asset $ - $ -
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Loss before taxes on income is comprised as follows: December 31, 2015 2014 2013 Domestic (Israel) $ 13,388 $ 7,022 $ 1,145 Foreign (U.S) 1,953 - - $ 15,341 $ 7,022 $ 1,145

CONTINGENT LIABILITIES AND CO25

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	Future minimum payments under the lease as of December 31, 2015 are as follows: Year ended December 31, Total 2016 $ 110 2017 43 $ 153

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	A summary of the Company’s options activity (for employees and directors) under the 2013 Plan is as follows: Year ended December 31, 2015 2014 Number of options Weighted average exercise price Number of options Weighted average exercise price Outstanding at beginning of year 783,332 $ 4.47 403,110 $ 0.0004 Granted 1,300,170 6.58 380,222 9.21 Outstanding at end of year 2,083,502 5.79 783,332 4.47 Vested and expected to vest 2,083,502 5.79 783,332 4.47 Options exercisable at the end of the year 834,650 $ 4.98 429,589 $ 1.33
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	The options outstanding as of December 31, 2015, have been separated into ranges of exercise price, as follows: Outstanding Exercisable Exercise price Number Weighted average Weighted average exercise Number of options Weighted average Weighted average exercise $ $ $ 0.0004 - 0.95 411,630 6.57 0.02 408,432 6.56 0.01 5.08 - 5.60 779,603 9.76 5.36 - - - 6.04 - 7.17 142,500 7.69 6.22 50,000 5.62 6.49 8.47 - 11.00 749,769 8.45 9.32 376,218 7.83 10.16 0.0004 - 11.00 2,083,502 8.52 5.79 834,650 7.07 4.98
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Year ended December 31, 2015 2014 2013 Research and development expenses $ 381 $ 83 $ 44 Pre-commercialization expenses 159 - - General and administrative expenses 2,083 653 210 $ 2,623 $ 736 $ 254
Nonemployee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The outstanding options granted to the Company’s service providers are as follows: Exercise Grant Date Number of Options *) Price Expiration Date December 2, 2014 20,000 7.78 December 2, 2024 *) All options were fully vested on the grant date.

RELATED PARTY BALANCES AND TR27

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	Balances with related parties: December 31, 2015 2014 Trade payable (d) $ - $ 2 Other accounts payable (a) (b) (c) $ 132 $ 123
Schedule Of Related Party Expenses [Table Text Block]	Year ended December 31, 2015 2014 2013 Amounts charged to: Research and development expense (c) $ 312 $ 145 $ 99 General and administrative expense (a) (b) (c) (d) $ 196 $ 467 $ 257 a. In August, 2012, the Company signed an agreement with a consultant, who is also one of the Company’s shareholders and a director, to render management, finance and operation services. The Company paid the consultant from that date until August 24 an amount of approximately $ 6 15 80 70 b. The Company signed an agreement with a company owned by one of its related parties. Under the agreement, the related company renders the Company with office services and an office lease for a monthly fee in the amount of approximately $ 4 c. A consulting agreement was signed on August 20, 2013 between the Company and one of its shareholders, as a consultant to render management, finance and operation services for an amount of approximately $ 15 19 90 28 d. In July 2013, the Company signed a consulting agreement with one of its shareholders, to render advisory services in a fee of $ 1

FINANCIAL INCOME, NET (Tables)

FINANCIAL INCOME, NET (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Year ended December 31, 2015 2014 2013 Financial expenses: Interest expense $ - $ *) $ 2 Bank fees 12 6 - Exchange rate 39 21 - 51 27 2 Financial income: Interest income 186 85 - Exchange rate - - 5 186 85 5 $ (135) $ (58) $ (3) *) Represents an amount lower than $1.

GENERAL (Details Textual)

GENERAL (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
General [Line Items]
Loss		$ (15,365)	$ (7,022)	$ (1,145)
Retained Earnings (Accumulated Deficit)		(23,787)	(8,422)
Cash Equivalents And Short Term Investments		19,332
Stock Issued During Period, Value, New Issues			31,405
Subsequent Event [Member]
General [Line Items]
Warrants Exercisable Term	five and one-half year
Common Stock [Member]
General [Line Items]
Loss		$ 0	0	$ 0
Stock Issued During Period, Value, New Issues			$ 9
Common Stock [Member] | Subsequent Event [Member]
General [Line Items]
Stock Issued During Period, Value, New Issues	$ 6,700
Proceeds from Issuance of Common Stock	$ 6,100

SIGNIFICANT ACCOUNTING POLICI30

SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015
Computers and software [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property Plant And Equipment Straight Line Depreciation Percentage	33.00%
Electronic equipment [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property Plant And Equipment Straight Line Depreciation Percentage	15.00%
Office furniture and equipment [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property Plant And Equipment Straight Line Depreciation Percentage	6.00%
Leasehold Improvements [Member]
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	The shorter of term of the leaseor the useful life of the asset

SIGNIFICANT ACCOUNTING POLICI31

SIGNIFICANT ACCOUNTING POLICIES (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Risk-free interest rate, Minimum	1.30%	1.55%
Risk-free interest rate ,Maximum	1.90%	2.21%
Risk-free interest rate			0.40%
Expected option term (years)			3 years
Expected price volatility, Maninum	70.40%	69.49%
Expected price volatility, Maximum	83.74%	84.63%
Expected price volatility			73.87%
Dividend yield	0.00%	0.00%	0.00%
Weighted average grant date fair value	$ 4.16	$ 4.1	$ 7.18
Minimum [Member]
Expected option term (years)	5 years 1 month 13 days	5 years 1 month 13 days
Maximum [Member]
Expected option term (years)	7 years	7 years

SIGNIFICANT ACCOUNTING POLICI32

SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Short-term Debt, Weighted Average Interest Rate	0.925%
Severance Costs	$ 131	$ 34
Pension Contributions	$ 11	$ 0

RECEIVABLES AND PREPAID EXPEN33

RECEIVABLES AND PREPAID EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Receivables and Prepaid Expenses [Line Items]
Government authorities	$ 145	$ 93
Prepaid expenses	915	181
Receivables and Prepaid Expenses, Current	$ 1,060	$ 274

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]
Cost	$ 113	$ 65
Accumulated depreciation:	22	5
Depreciated cost	91	60
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Cost	54	19
Electronic equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	19	14
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	38	32
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 2	$ 0

PROPERTY AND EQUIPMENT, NET (35

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	$ 17	$ 5	$ 0	[1]
[1]	Represents an amount lower than $1.

OTHER ACCOUNTS PAYABLE (Details

OTHER ACCOUNTS PAYABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
OTHER ACCOUNTS PAYABLE [Line Items]
Employees and payroll accruals	$ 463	$ 235
Accrued expenses	639	760
Accounts Payable, Other, Current	$ 1,102	$ 995

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
INCOME TAXES [Line Items]
Operating loss carry forward	$ 3,580	$ 181
Reserves and allowances	2,185	1,610
Net deferred tax asset before valuation allowance	5,765	1,791
Valuation allowance	(5,765)	(1,791)
Net deferred tax asset	$ 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
Domestic (Israel)	$ 13,388	$ 7,022	$ 1,145
Foreign (U.S.)	1,953	0	0
Total	$ 15,341	$ 7,022	$ 1,145

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
INCOME TAXES [Line Items]
Effective Income Tax Rate Reconciliation, Percent		26.50%	26.50%	25.00%
Operating Loss Carryforwards		$ 13,508
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent		26.50%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%
Subsequent Event [Member]
INCOME TAXES [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	25.00%

CONTINGENT LIABILITIES AND CO40

CONTINGENT LIABILITIES AND COMMITMENTS (Details) $ in Thousands	Dec. 31, 2015USD ($)
CONTINGENT LIABILITIES AND COMMITMENTS [Line Items]
2,016	$ 110
2,017	43
Operating Leases, Future Minimum Payments Due	$ 153

CONTINGENT LIABILITIES AND CO41

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]
Operating Leases, Rent Expense, Minimum Rentals	$ 44	$ 6
Operating Leases, Rent Expense	104	120	$ 15
Guarantee For Performance Of Lease Agreement	26
Operating Leases, Rent Expense, Net	43	$ 25	$ 11
Subsidiaries [Member]
CONTINGENT LIABILITIES AND COMMITMENTS [Line Items]
Operating Leases, Rent Expense	$ 36

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Vested and expected to vest (in shares)	2,083,502
Weighted average exercise price Vested and expected to vest (in dollars per share)	$ 5.79
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding at beginning of year (in shares)	783,332	403,110
Number of Options Granted (in shares)	1,300,170	380,222
Number of Options Outstanding at end of year (in shares)	2,083,502	783,332
Number of Options Vested and expected to vest (in shares)	2,083,502	783,332
Number of Options exercisable at the end of the year (in shares)	834,650	429,589
Weighted average exercise price Outstanding at beginning of year (in dollars per share)	$ 4.47	$ 0.0004
Weighted average exercise price Granted (in dollars per share)	6.58	9.21
Weighted average exercise price Outstanding at end of year (in dollars per share)	5.79	4.47
Weighted average exercise price Vested and expected to vest (in dollars per share)	5.79	4.47
Weighted average exercise price Options exercisable at the end of the year (in dollars per share)	$ 4.98	$ 1.33

SHAREHOLDERS' EQUITY (Details 1

SHAREHOLDERS' EQUITY (Details 1)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Outstanding, Number of options | shares	2,083,502
Outstanding, Weighted average remaining contractual life (years)	8 years 6 months 7 days
Outstanding, Weighted average exercise price	$ 5.79
Exercisable, Number of options | shares	834,650
Exercisable, Weighted average remaining contractual life (years)	7 years 25 days
Exercisable, Weighted average exercise price	$ 4.98
Exercise price, Lower Range Limit	0.0004
Exercise price, Upper Range Limit	$ 11
Exercise Price One [Member]
Outstanding, Number of options | shares	411,630
Outstanding, Weighted average remaining contractual life (years)	6 years 6 months 25 days
Outstanding, Weighted average exercise price	$ 0.02
Exercisable, Number of options | shares	408,432
Exercisable, Weighted average remaining contractual life (years)	6 years 6 months 22 days
Exercisable, Weighted average exercise price	$ 0.01
Exercise price, Lower Range Limit	0.0004
Exercise price, Upper Range Limit	$ 0.95
Exercise Price Two [Member]
Outstanding, Number of options | shares	779,603
Outstanding, Weighted average remaining contractual life (years)	9 years 9 months 4 days
Outstanding, Weighted average exercise price	$ 5.36
Exercisable, Number of options | shares	0
Exercisable, Weighted average remaining contractual life (years)	0 years
Exercisable, Weighted average exercise price	$ 0
Exercise price, Lower Range Limit	5.08
Exercise price, Upper Range Limit	$ 5.60
Exercise Price Three [Member]
Outstanding, Number of options | shares	142,500
Outstanding, Weighted average remaining contractual life (years)	7 years 8 months 8 days
Outstanding, Weighted average exercise price	$ 6.22
Exercisable, Number of options | shares	50,000
Exercisable, Weighted average remaining contractual life (years)	5 years 7 months 13 days
Exercisable, Weighted average exercise price	$ 6.49
Exercise price, Lower Range Limit	6.04
Exercise price, Upper Range Limit	$ 7.17
Exercise Price Four [Member]
Outstanding, Number of options | shares	749,769
Outstanding, Weighted average remaining contractual life (years)	8 years 5 months 12 days
Outstanding, Weighted average exercise price	$ 9.32
Exercisable, Number of options | shares	376,218
Exercisable, Weighted average remaining contractual life (years)	7 years 9 months 29 days
Exercisable, Weighted average exercise price	$ 10.16
Exercise price, Lower Range Limit	8.47
Exercise price, Upper Range Limit	$ 11

SHAREHOLDERS' EQUITY (Details 2

SHAREHOLDERS' EQUITY (Details 2) - Nonemployee Stock Option [Member] - December 2, 2014 [Member]	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased Compensation Arrangement By Sharebased Payment Award Options To Nonemployees Date Of Grant	Dec. 2, 2014
Sharebased Compensation Arrangement By Sharebased Payment Award Options To Nonemployees Outstanding Number | shares	20,000	[1]
Sharebased Compensation Arrangement By Sharebased Payment Award Options To Nonemployees Exercise Price | $ / shares	$ 7.78
Sharebased Compensation Arrangement By Sharebased Payment Award Options To Nonemployees Expiration Date	Dec. 2, 2024
[1]	All options were fully vested on the grant date.

SHAREHOLDERS' EQUITY (Details 3

SHAREHOLDERS' EQUITY (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation	$ 2,623	$ 736	$ 254
Research and Development Expense [Member]
Share-based Compensation	381	83	44
Pre-commercialization expenses [Member]
Share-based Compensation	159	0	0
General and Administrative Expense [Member]
Share-based Compensation	$ 2,083	$ 653	$ 210

SHAREHOLDERS' EQUITY (Details T

SHAREHOLDERS' EQUITY (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Aug. 05, 2014	Feb. 06, 2014	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity, Reverse Stock Split				All Ordinary shares, options, per share data and exercise price included in these financial statements for all periods presented have been retroactively adjusted to reflect the issuance on January 26, 2014 of 6.55-to-one bonus shares (equivalent to a 7.55-for-1 stock split).
Stock Issued During Period Ordinary Shares Issued Upon Private Placement Shares		782,537
Stock Issued During Period Ordinary Shares Issued Upon Private Placement Value		$ 4,368			$ 4,368
Shares Issued, Price Per Share					$ 0.95	$ 0.95
IPO [Member]
Stock Issued During Period, Shares, New Issues	3,200,000
Payments of Stock Issuance Costs	$ 31,405
Shares Issued, Price Per Share	$ 11				$ 11
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term				8 years 6 months 7 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term				7 years 25 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value				$ 1,585
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value				1,575
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 3,495
Purchase Agreement [Member]
Share Purchase Agreement, Shares to be issued			2,130,159
Share Purchase Agreement, Value to be issued			$ 2,024
Series A Preferred Stock [Member]
Conversion of Stock, Shares Converted						566,357
Series A Preferred Stock [Member] | Purchase Agreement [Member]
Preferred Stock, Conversion Basis				Prior to the closing of the share purchase agreement above and as a condition to it,the Company affected an equity restructuring, under which, all of the CompanysPreferred shares (566,357 Preferred A shares) were converted into Ordinary sharesat a 1:1
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost						$ 183
Dividends, Preferred Stock						$ 26

RELATED PARTY BALANCES AND TR47

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Trade payable		$ 1,412	$ 1,285
Other accounts payable		1,102	995
Related Party [Member]
Related Party Transaction [Line Items]
Trade payable	[1]	0	2
Other accounts payable	[2],[3],[4]	$ 132	$ 123
[1]	In July 2013, the Company signed a consulting agreement with one of its shareholders, to render advisory services in a fee of $1 per month. The Company terminated the agreement in July 2015.
[2]	A consulting agreement was signed on August 20, 2013 between the Company and one of its shareholders, as a consultant to render management, finance and operation services for an amount of approximately $15 per month. During August 2014, the monthly fee was increased to an amount of $19 effective immediately. In August 2014, the Company granted the consultant a bonus in the amount of $90 in connection with the consummation of the IPO. In January 2015, the monthly fee for the services provided was increased to $28 per month.
[3]	In August, 2012, the Company signed an agreement with a consultant, who is also one of the Company’s shareholders and a director, to render management, finance and operation services. The Company paid the consultant from that date until August 24 an amount of approximately $6 per month. During August 2014, the monthly fee was increased to an amount of $15 effective immediately. In August 2014, the Company granted the consultant a bonus in the amount of $80 in connection with the consummation of the IPO. The Company granted an additional bonus in the amount of $70 with regard to services provided during 2014.
[4]	The Company signed an agreement with a company owned by one of its related parties. Under the agreement, the related company renders the Company with office services and an office lease for a monthly fee in the amount of approximately $4 since September 10, 2013. The parties terminated the agreement on September 1, 2014.

RELATED PARTY BALANCES AND TR48

RELATED PARTY BALANCES AND TRANSACTIONS (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amounts charged to:
Research and Development expense		$ 7,694	$ 4,441	$ 732
General and administrative expense		6,953	2,639	416
Related Party [Member]
Amounts charged to:
Research and Development expense	[1]	312	145	99
General and administrative expense	[1],[2],[3],[4]	$ 196	$ 467	$ 257
[1]	A consulting agreement was signed on August 20, 2013 between the Company and one of its shareholders, as a consultant to render management, finance and operation services for an amount of approximately $15 per month. During August 2014, the monthly fee was increased to an amount of $19 effective immediately. In August 2014, the Company granted the consultant a bonus in the amount of $90 in connection with the consummation of the IPO. In January 2015, the monthly fee for the services provided was increased to $28 per month.
[2]	In August, 2012, the Company signed an agreement with a consultant, who is also one of the Company’s shareholders and a director, to render management, finance and operation services. The Company paid the consultant from that date until August 24 an amount of approximately $6 per month. During August 2014, the monthly fee was increased to an amount of $15 effective immediately. In August 2014, the Company granted the consultant a bonus in the amount of $80 in connection with the consummation of the IPO. The Company granted an additional bonus in the amount of $70 with regard to services provided during 2014.
[3]	In July 2013, the Company signed a consulting agreement with one of its shareholders, to render advisory services in a fee of $1 per month. The Company terminated the agreement in July 2015.
[4]	The Company signed an agreement with a company owned by one of its related parties. Under the agreement, the related company renders the Company with office services and an office lease for a monthly fee in the amount of approximately $4 since September 10, 2013. The parties terminated the agreement on September 1, 2014.

RELATED PARTY BALANCES AND TR49

RELATED PARTY BALANCES AND TRANSACTIONS (Details Textual) - USD ($) $ in Thousands	1 Months Ended					12 Months Ended
	Jan. 31, 2015	Aug. 31, 2014	Aug. 20, 2013	Jul. 31, 2013	Aug. 31, 2012	Dec. 31, 2014
Consultant [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				$ 1	$ 6
Increase In Monthly Fee			$ 15
Consultant Bonus Grant In Period						$ 80
Consultant Bonus Grant In Period, Addition						70
Shareholders [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 28		$ 15
Consultant One [Member]
Related Party Transaction [Line Items]
Increase In Monthly Fee		$ 19				4
Consultant Bonus Grant In Period						$ 90

FINANCIAL INCOME, NET (Details)

FINANCIAL INCOME, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Financial expenses:
Interest expense	$ 0		[1]	$ 2
Bank fees	12	$ 6		0
Exchange rate	39	21		0
Financial expenses	51	27		2
Financial income:
Interest income	186	85		0
Exchange rate	0	0		5
Financial income	186	85		5
Financial expenses (income), net	$ (135)	$ (58)		$ (3)
[1]	Represents an amount lower than $1.

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jan. 11, 2016	Mar. 31, 2016	Feb. 21, 2016	Jan. 21, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues						$ 31,405
Shares Issued, Price Per Share						$ 0.95	$ 0.95
Subsequent Event [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.50
Warrants Issued for Purchase of Common Stock, Shares		1,080,645
Warrants Exercisable Term		five and one-half year
Employee Stock Option [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price					$ 6.58	$ 9.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					1,300,170	380,222
Employee Stock Option [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 3	$ 2.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1,500	30,000
Chief Executive Officer [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 4.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	213,458
Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues						3,200,000
Stock Issued During Period, Value, New Issues						$ 9
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues		2,161,290
Stock Issued During Period, Value, New Issues		$ 6,700
Shares Issued, Price Per Share		$ 3.10
Proceeds from Issuance of Common Stock		$ 6,100