Foamix Pharmaceuticals (FOMX) 10-K 27 Feb 18 2017 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 26, 2018	Jun. 30, 2017
DOCUMENT AND ENTITY INFORMATION [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Entity Registrant Name	Foamix Pharmaceuticals Ltd.
Entity Central Index Key	1,606,645
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		37,551,199
Entity Public Float			$ 121
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, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 15,956	$ 31,190
Restricted cash	250	250
Short term bank deposits	19,443	38,351
Investment in marketable securities (Note 4)	31,797	43,275
Restricted investment in marketable securities (Note 4)	290	261
Accounts receivable:
Trade	996	3,236
Other (Note 11a)	772	438
TOTAL CURRENT ASSETS	69,504	117,001
NON-CURRENT ASSETS:
Investment in marketable securities (Note 4)	8,533	17,532
Restricted investment in marketable securities (Note 4)	143	129
Property and equipment, net (Note 5)	2,042	938
Other	32	35
TOTAL NON-CURRENT ASSETS	10,750	18,634
TOTAL ASSETS	80,254	135,635
CURRENT LIABILITIES:
Current maturities of bank borrowing (Note 8b)		20
Accounts payable and accruals:
Trade	6,436	2,267
Deferred revenues	62
Other (Note 11b)	3,730	2,984
TOTAL CURRENT LIABILITIES	10,228	5,271
LONG-TERM LIABILITIES
Liability for employee severance benefits (Note 6)	437	379
Other liabilities	988
TOTAL LONG-TERM LIABILITIES	1,425	379
TOTAL LIABILITIES	11,653	5,650
COMMITMENTS (Note 7)
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.16 par value - authorized: 90,000,000 and 50,000,000 Ordinary Shares as of December 31, 2017 and December 31, 2016, respectively; issued and outstanding: 37,498,128 and 37,167,791 Ordinary Shares as of December 31, 2017 and December 31, 2016, respectively	1,576	1,561
Additional paid-in capital	208,364	204,052
Accumulated deficit	(141,281)	(75,566)
Accumulated other comprehensive loss	(58)	(62)
TOTAL SHAREHOLDERS' EQUITY	68,601	129,985
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 80,254	$ 135,635

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Ordinary shares, par value (in NIS per share)	₪ 0.16	₪ 0.16
Ordinary shares, shares authorized	90,000,000	50,000,000
Ordinary shares, shares issued	37,498,128	37,167,791
Ordinary shares, shares outstanding	37,498,128	37,167,791

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
REVENUES (Note 11c)	$ 3,669	$ 5,527	$ 849
COST OF REVENUES	13	59	70
GROSS PROFIT	3,656	5,468	779
OPERATING EXPENSES:
Research and development	57,779	25,897	10,680
Selling, general and administrative	11,491	9,221	7,029
TOTAL OPERATING EXPENSES	69,270	35,118	17,709
OPERATING LOSS	65,614	29,650	16,930
FINANCE INCOME, net (Note 11d)	(1,063)	(701)	(452)
LOSS BEFORE INCOME TAX	64,551	28,949	16,478
INCOME TAX (Note 10)	1,164	387	39
NET LOSS FOR THE YEAR	$ 65,715	$ 29,336	$ 16,517
LOSS PER SHARE BASIC AND DILUTED	$ 1.76	$ 0.91	$ 0.58
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE IN THOUSANDS	37,376	32,263	28,229

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
NET LOSS	$ 65,715	$ 29,336	$ 16,517
OTHER COMPREHENSIVE LOSS (INCOME):
Net unrealized losses (gains) from marketable securities	5	(65)	103
Gains (losses) on marketable securities reclassified into net loss		4	(57)
Net unrealized losses (gains) on derivative financial instruments	(146)	(20)	5
Gains on derivative financial instruments reclassified into net loss	137	13
TOTAL OTHER COMPREHENSIVE LOSS (INCOME)	(4)	(68)	51
TOTAL COMPREHENSIVE LOSS	$ 65,711	$ 29,268	$ 16,568

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (CAPITAL DEFICIENCY) - USD ($) $ in Thousands	Ordinary shares [Member]	Additional Paid-in Capital [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]	Total
Balance at Dec. 31, 2014	$ 954	$ 77,600	$ (29,713)	$ (79)	$ 48,762
Balance (shares) at Dec. 31, 2014	22,443,934
Changes during year
Comprehensive income (loss)			(16,517)	(51)	(16,568)
Issuance of Ordinary Shares through a public offering, issuance costs (Note 9c)	$ 298	63,904			64,202
Issuance of Ordinary Shares through a public offering, net of issuance costs (Note 9c) (shares)	7,419,353
Exercise of warrants (Note 9e)	$ 23	2,262			2,285
Exercise of warrants (Note 9e) (shares)	546,322
Exercise of options and restricted share units (Note 9d)	$ 9	335			344
Exercise of options and restricted share units (Note 9d) (shares)	229,525
Share-based compensation (Note 9d)		1,777			1,777
Balance at Dec. 31, 2015	$ 1,284	145,878	(46,230)	(130)	$ 100,802
Balance (shares) at Dec. 31, 2015	30,639,134				30,639,134
Changes during year
Comprehensive income (loss)			(29,336)	68	$ (29,268)
Issuance of Ordinary Shares through a public offering, issuance costs (Note 9c)	$ 260	53,872			54,132
Issuance of Ordinary Shares through a public offering, net of issuance costs (Note 9c) (shares)	6,111,959
Exercise of warrants (Note 9e)	$ 10	1,285			1,295
Exercise of warrants (Note 9e) (shares)	257,137
Exercise of options and restricted share units (Note 9d)	$ 7	105			112
Exercise of options and restricted share units (Note 9d) (shares)	159,561
Share-based compensation (Note 9d)		2,912			2,912
Balance at Dec. 31, 2016	$ 1,561	204,052	(75,566)	(62)	$ 129,985
Balance (shares) at Dec. 31, 2016	37,167,791				37,167,791
Changes during year
Comprehensive income (loss)			(65,715)	4	$ (65,711)
Issuance of Ordinary Shares through a public offering, issuance costs (Note 9c)
Issuance of Ordinary Shares through a public offering, net of issuance costs (Note 9c) (shares)
Exercise of warrants (Note 9e)	$ 8	(8)
Exercise of warrants (Note 9e) (shares)	191,793
Exercise of options and restricted share units (Note 9d)	$ 7	154			161
Exercise of options and restricted share units (Note 9d) (shares)	138,544
Share-based compensation (Note 9d)		4,166			4,166
Balance at Dec. 31, 2017	$ 1,576	$ 208,364	$ (141,281)	$ (58)	$ 68,601
Balance (shares) at Dec. 31, 2017	37,498,128				37,498,128

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (CAPITAL DEFICIENCY) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 3.9	$ 4.8

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (65,715)		$ (29,336)	$ (16,517)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	221		143	87
Loss from sale and disposal of fixed assets	134		16	15
Changes in marketable securities and bank deposits, net	97		91	57
Changes in accrued liability for employee severance benefits, net of retirement fund profit	57		14	35
Share-based compensation	4,166		2,912	1,777
Non-cash finance income, net	(47)		(1)	(8)
Changes in operating asset and liabilities:
Decrease (increase) in trade and other receivable	1,915		(2,889)	140
Decrease (increase) in other non-current assets	4			(1)
Increase in accounts payable and accruals	5,003		1,680	1,917
Increase in other liabilities	988
Net cash used in operating activities	(53,177)		(27,370)	(12,498)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(1,518)		(424)	(500)
Proceeds from sale of fixed assets	33
Investment in bank deposits	(17,000)		(23,000)	(28,000)
Investment in marketable securities	(22,839)		(31,700)	(72,518)
Proceeds from sale and maturity of marketable securities and bank deposits	79,079		40,106	22,502
Net cash provided by (used in) investing activities	37,755		(15,018)	(78,516)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of ordinary shares through public offerings, net of issuance costs			54,132	64,202
Proceeds from exercise of warrants			1,295	2,285
Proceeds from exercise of options	161		112	344
Payments in respect of BIRD loan			(476)
Payments in respect of bank borrowings	(21)		(32)	(30)
Net cash provided by financing activities	140		55,031	66,801
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(15,282)		12,643	(24,213)
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48		2		[1]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE YEAR	31,440		18,795	43,008
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE YEAR	16,206		31,440	18,795
Cash and cash equivalents	15,956		31,190	18,795
Restricted cash	250		250
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH SHOWN IN STATEMENT OF CASH FLOWS	16,206		31,440	18,795
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Cashless exercise of warrants	8			4
Exercise of restricted share units	3		4
Property and equipment purchases included in accounts payable and accruals	1		27
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for taxes	478		163	16
Interest received	1,209		1,015	921
Interest paid		[1]	$ 239		[1]
[1]	Represents an amount less than $1.

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1 - NATURE OF OPERATIONS Foamix Pharmaceuticals Ltd. (hereinafter “Foamix”) is an Israeli company incorporated in 2003. Foamix’s shares are publicly traded on the NASDAQ under the symbol “FOMX”, since its initial public offering (“IPO”) in September, 2014. Foamix is a clinical-stage specialty pharmaceutical company operating in one segment - the development and commercialization of foam-based formulations, using its proprietary technology, which includes its foam platforms. Foamix develops its own product candidates, mainly for the treatment of moderate-to-severe acne, the treatment of moderate-to-severe papulo-pustular rosacea and other skin conditions. It also licenses its technology under development and licensing agreements to various pharmaceutical companies for development of certain products combining Foamix's foam technology with the licensee’s proprietary drugs. In May 2014, Foamix incorporated a wholly-owned subsidiary in the United States of America - Foamix Pharmaceuticals Inc. ("the subsidiary"). The subsidiary was incorporated to assist Foamix with regard to marketing, regulatory affairs and business development relating its products and technology. Since incorporation through December 31, 2017, Foamix and its subsidiary (hereinafter “the Company”) has incurred losses and negative cash flows from operations mainly attributable to its development efforts and has an accumulated deficit Company has financed its operations mainly through private and public financing rounds, convertible loans, royalties and payments received under development and licensing agreements. The Company's cash, cash equivalents, deposits and marketable securities as of the issuance date of these financial statements, will allow the Company to fund its operating plan through at least the next 12 months. However, the Company expects to continue to incur significant research and development and other expenses related to its ongoing operations and in order to continue its future operations, the Company will need to obtain additional funding until becoming profitable. If the Company is unable to obtain such funding it will need to curtail or cease operations.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES:	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES:	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: a. Basis of presentation b. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to the fair value of share-based compensation and clinical trials accruals. c. Functional currency The U.S. dollar ( “dollar”) Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in non-dollar currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For non-dollar transactions and other items in the statements of operations (indicated below), the following exchange rates are used: (i) for transactions - exchange rates at transaction dates or average rates; and (ii) for other items (derived from non-monetary balance sheet items such as depreciation and amortization, etc.) - historical exchange rates. Currency transaction gains and losses are presented in financial income or expenses, as appropriate. d. Principles of consolidation The consolidated financial statements include the accounts of Foamix and its subsidiary. Intercompany balances and transactions have been eliminated upon consolidation. e. Cash and cash equivalents The Company considers as cash equivalents all short-term, highly liquid investments, which include short-term bank deposits with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash. f. Bank deposits Bank deposits with original maturity dates of more than three months but at balance sheet date are less than one year are included in short-term deposits. Bank deposits with maturity of more than one year are considered long-term. The interest rates on the Company’s deposits range between 1.0%-1.9%. The fair value of bank deposits g. Marketable securities The Company invests in debt and mutual funds securities classified as available for sale in accordance with ASC 320, Investments - Debt and Equity Securities. Management determines the appropriate classification of its investments in securities at the time of purchase and reevaluates such determinations at each balance sheet date. Classifications of debt securities in the balance sheet are determined based on the maturity date of the securities. Unrealized gains of available for sale securities, net of taxes, are reflected in other comprehensive income (loss). Unrealized losses considered to be temporary are reflected in other comprehensive income (loss); unrealized losses that are considered to be other-than-temporary are charged to income as an impairment charge. Realized gains and losses for both debt and equity securities are included in financial income, net. For equity securities, the Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost. For debt securities, an . h. Derivatives The Company purchases foreign exchange derivative financial instruments (written and purchased currency options). The transactions are designed to hedge the Company’s currency exposure. The Company recognizes all derivatives as either assets or liabilities in the consolidated balance sheet at their fair value. Changes in the fair value of derivatives that are highly effective and designated as cash flow hedges are reported as a component of other comprehensive income or loss and reclassified into earnings in the same line-item associated with the forecasted transaction and in the same periods during which the hedged transaction impacts earnings. For derivatives that qualify for hedge accounting, the cash flows associated with these derivatives are reported in the consolidated statements of cash flows consistently with the classification of cash flows from the underlying hedged items that these derivatives are hedging. i. Property and equipment: 1) Property and equipment are stated at cost, net of accumulated depreciation and amortization. 2) The Company’s property and equipment are depreciated by the straight-line method on the basis of their estimated useful life. % Computers 20-33 Laboratory equipment 7-15 Office furniture and equipment 7-20 Vehicles 15 Leasehold improvements are amortized by the straight-line method over the expected lease term, which is shorter than the estimated useful life of the improvements. j. Impairment of long-lived assets The Company tests long-lived assets for impairment whenever events or circumstances present an indication of impairment. If the sum of expected future cash flows (undiscounted and without interest charges) of the assets is less than the carrying amount of such assets, an impairment loss would be recognized. The assets would be written down to their estimated fair values, calculated based on the present value of expected future cash flows (discounted cash flows), or some other fair value measure. For the three years ended December 31, 2017, the Company did not recognize an impairment loss for its long-lived assets. k. Allowance for doubtful accounts The Company performs ongoing credit evaluations to estimate the need for maintaining reserves for potential credit losses. An allowance for doubtful accounts is recognized on a specific basis with respect to those amounts that the Company has determined to be doubtful of collection. No allowance for doubtful accounts was recorded in the three years ended December 31, 2017. l. Contingencies Certain conditions may exist as of the date of the financial statements, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. Management applies the guidance in ASC 450-20-25 when assessing losses resulting from contingencies. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability is recorded as accrued expenses in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material are disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantees are disclosed. m. Share-based compensation The Company accounts for employees’ and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period. As of January 1, 2017, forfeitures are recognized as they occur. The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method based on the multiple-option award approach. When options and restricted share units (hereinafter “RSUs”) are granted as consideration for services provided by consultants and other non-employees, the grant is accounted for based on the fair value of the consideration received or the fair value of the awards issued, whichever is more reliably measurable. The fair value of the awards granted is measured on a final basis at the end of the related service period and is recognized over the related service period using the straight-line method. n. Revenue recognition The Company's revenues are derived from development and license agreements for development of products combining the Company's foam technology with a drug selected by the licensee. The significant deliverables in the agreements between the Company and its licensees are the obligation of the Company to provide development services and the grant of an exclusive license to the specific product developed. These deliverables are combined into one single unit of accounting for revenue recognition purposes since: · Each element does not have value on a stand-alone basis. · In order to develop the combined formulation in the licensed product, the use of the Company’s propriety technology is required. Therefore, the Company is the only party capable of performing the level and type of development services required under the agreement. The Company’s development and license agreements entitle the Company to: · Development payments, including upfront payments, cost reimbursements and payments contingent only upon passage of time (together - “Development Service Payments”). · Payments contingent solely upon performance or achievement of clinical results by the Company’s licensees (“Contingent Payments”). · Royalties, calculated as a percentage of sales of the developed products made by the Company's licensees. Revenues from Development Service Payments under development and license agreements are recognized as the services are provided. When the Company receives a portion of the Development Service Payment before performance of such services, these advances are recorded as deferred revenues and recognized as revenues as services are performed. Contingent Payments are recognized when the licensee’s performance or achievement event occurs. Royalties are recognized when subsequent sales are made by the licensees. o. Research and development costs Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of clinical trials, clinical trial supplies, salaries, share-based compensation expenses, payroll taxes and other employee benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred. p. Clinical trial accruals Clinical trial expenses are charged to research and development expense as incurred. The Company accrue for expenses resulting from obligations under contracts with clinical research organizations (CROs). The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment flows that do not match the periods over which materials or services are provided. The Company’s objective is to reflect the appropriate trial expense in the consolidated financial statements by matching the appropriate expenses with the period in which services and efforts are expended. In the event advance payments are made to a CRO, the payments are recorded as other assets, which will be recognized as expenses as services are rendered. q. Income taxes: 1) Deferred taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. Given the Company’s losses, the Company has provided a full valuation allowance with respect to its deferred tax assets. 2) Uncertainty in income tax The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained based on technical merits. If this threshold is met, the second step is to measure the tax position as the largest amount that has more than a 50% likelihood of being realized upon ultimate settlement. r. Loss per share Net loss per share, basic and diluted, is computed on the basis of the net loss for the year divided by the weighted average number of common shares outstanding during the year. Diluted net loss per share is based upon the weighted average number of common shares and of common shares equivalents outstanding when dilutive. Common share equivalents include outstanding stock options and warrants which are included under the treasury share method when dilutive. The following share options, RSUs and warrants were excluded from the calculation of diluted net loss per ordinary share because their effect would have been anti-dilutive for the years presented (share data): Year ended December 31 2017 2016 2015 Outstanding share options and RSUs 4 , , 2,698,875 2,124,951 Warrants 1,394 , 1,807,800 2,064,937 s. Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data or active market data of similar or identical assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. t. Concentration of credit risks Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, restricted cash, bank deposits, marketable securities and certain receivables. The Company deposits cash and cash equivalents with highly rated financial institutions and, as a matter of policy, limits the amounts of credit exposure to any single financial institution. In addition, all marketable securities carry a high rating or are government insured. The Company has not experienced any material credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments. u. Comprehensive loss Comprehensive loss includes, in addition to net loss, unrealized holding gains and losses Reclassification adjustments for gain or loss of available for sales securities are included in finance expenses net in the statement of operations. v. Newly issued and recently adopted accounting pronouncements: Accounting pronouncements adopted in 2017: 1) In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718). ASU No. 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The Company adopted this standard as of January 1, 2017, and elected the option to recognize gross stock compensation expense with actual forfeitures recognized as they occur. 2) In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows Topic 230: Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 issued guidance to clarify how certain cash receipts and cash payments should be presented in the statement of cash flows. This standard, adopted as of January 1, 2017, had no material impact on the Company’s consolidated financial statements. Accounting pronouncements that are not yet effective and have not been early adopted by the Company: 3) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process that requires companies to exercise more judgment and make more estimates than under the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The Company intends to adopt the guidance using the modified retrospective approach, with the cumulative effect of initially applying the guidance recognized at the date of initial application, with effect from January 1, 2018. The Company generates revenue primarily from its development and licensing agreements. The consideration the Company is eligible to receive under its agreements typically include upfront payments, reimbursement for research and development costs, contingent payments, royalties and other contingent payments for the achievement of certain sales targets . As the current revenue of the Company is driven primarily from royalties and contingent payments as mentioned above, the Company anticipates that the adoption of the new standard will not have a material effect on its consolidated financial statements. 4) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10), which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This guidance is effective for interim and annual periods beginning after December 15, 2017. The amended guidance requires changes in the fair value of equity investments to be recognized through net income, rather than other comprehensive income. Adoption of the standard will be applied through a cumulative one-time adjustment to retained earnings. For the Company’s equity investments without readily determinable fair values, the Company expects to elect the measurement alternative to record those investments at cost, less impairment, and adjusted by observable price changes on a prospective basis. The impact of the standard on the consolidated statements of operations will depend on the relative changes in market price of the equity investments, although the impact is currently expected to be immaterial. 5) In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2018. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact of this new standard on its consolidated financial statements, although the impact is currently expected to be immaterial. 6) In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments. This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time, as they do today. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. 7) In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This new standard amends the amortization period for certain purchased callable debt securities held at a premium by shortening the amortization period for the premium to the earliest call date. The new standard will be effective for interim and annual reporting periods beginning after December 15, 2018. The Company anticipates that the adoption of the new standard will not have a material effect on its consolidated financial statements. 8) In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. ASU 2017-09 was issued to provide clarity and reduce both 1) diversity in practice and 2) cost and complexity when applying the guidance in Topic 718 to a change in the terms or conditions of a share-based payment award. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting under Topic 718. The amendments in ASU 2017-09 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period. The amendments in ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. 9) In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities. This new standard aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for interim and annual reporting periods beginning after December 15, 2018 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS:	NOTE 3 - FAIR VALUE MEASUREMENTS The Company’s assets and liabilities that are measured at fair value as of December 31, 2017, and December 31, 2016, are classified in the tables below in one of the three categories described in note 2s above: December 31, 2017 Level 1 Level 2 Total Marketable securities $ 987 $ 39,776 $ 40,763 Currency options designated as hedging instruments (current asset) - $ 11 $ 11 December 31, 2016 Level 1 Level 2 Total Marketable securities $ 957 $ 60,24 0 $ 61,197 Currency options designated as hedging instruments (current asset) - $ 2 $ 2 The Company’s corporate debt securities are traded in markets that are not considered to be active, but are valued based on quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Accordingly, these assets are categorized as Level 2. Foreign exchange risk management The Company purchases and writes non-functional currency options in order to hedge the currency exposure on the Company’s cash flow. The currency hedged items are denominated in New Israeli Shekel (NIS). The purchasing and writing of options is part of a comprehensive currency hedging strategy with respect to salary and rent expenses denominated in NIS. These transactions are at zero cost for periods of up to one year. The counterparties to the derivatives are major banks in Israel. As of December 31, 2017, the total hedged amount was NIS 5.3 million. The derivative asset, in the amount of $11 as of December 31, 2017, qualifies as hedge accounting. As of December 31, 2017, the Company has a lien in the amount of $290 on the Company’s marketable securities and a lien in the amount $250 on the Company’s checking account, in respect of bank guarantees granted in order to secure the hedging transactions.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 4 - MARKETABLE SECURITIES Marketable securities as of December 31, 2017, and December 31, 2016, consist mainly of debt and mutual funds securities. These securities are classified as available-for-sale and are recorded at fair value. Changes in fair value, net of taxes (if applicable), are reflected in other comprehensive loss. Realized gains and losses on sales of the securities, as well as premium or discount amortization, are included in the consolidated statement of operations as finance income or expenses. T December 31 2017 2016 Israeli mutual funds $ 987 $ 957 Certificates of deposit 17,206 33,350 Government and agency bonds 22,570 26,890 Total $ 40,763 $ 61,197 At December 31, 2017 and 2016, the fair value, cost and gross unrealized holding gains of the securities owned by the Company were as follows: December 31, 2017 Fair Cost or Amortized cost Gross unrealized Gross unrealized Israeli mutual funds $ 987 $ 952 $ - $ 35 Certificates of deposit 17,206 17,243 38 1 Government and agency bonds 22,570 22,638 68 - Total $ 40,763 $ 40,833 $ 106 $ 36 December 31, 2016 Fair Cost or Amortized cost Gross unrealized Gross unrealized Israeli mutual funds $ 957 $ 952 $ - $ 5 Certificates of deposit 33,350 33,408 68 10 Government and agency bonds 26,890 26,901 13 2 Total $ 61,197 $ 61,261 $ 81 $ 17 As of December 31, 2017, the unrealized losses attributed to the Company’s marketable securities were primarily due to credit spreads and interest rate movements. The Company has considered factors regarding other than temporary impaired securities and determined that there are no securities with impairment that is other than temporary as of December 31, 2017, and December 31, 2016. During the year ended December 31, 2017 and December 31, 2016 the Company received proceeds of $43,079 and $27,106 upon sale and maturity of marketable securities. As of December 31, 2017, and December 31, 2016, the Company’s debt securities had the following maturity dates: Market value December 31 2017 2016 Due within one year $ 31,244 $ 42,708 1 to 2 years 8,380 14,513 2 to 3 years 152 3,019 Total $ 39,776 $ 60,240 $433 and $390 of the Company’s marketable securities were restricted as of December 31, 2017, and December 31, 2016, respectively, due to a lien in respect of bank guarantees granted to secure hedging transaction and the Company’s rent agreement. Refer to note 7 and note 3.

PROPERTY AND EQUIPMENT_

PROPERTY AND EQUIPMENT:	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT:	NOTE 5 - PROPERTY AND EQUIPMENT December 31 2017 2016 Cost: Leasehold improvements $ 902 $ 229 Computers and software 299 187 Laboratory equipment 1,257 896 Furniture 288 96 Vehicles 106 198 2,852 1,606 Less: Accumulated depreciation and amortization 810 668 Property and Equipment, net $ 2,042 $ 938 Depreciation and amortization expense totaled $221, $143 and $87 for the years ended December 31, 2017, December 31 2016, and December 31, 2015, respectively. During the years ended December 31, 2017 and December 31, 2016, the Company disposed of fixed assets in the net amount of $104 and $16 respectively. Loss from Sales of fixed assets for the year ended December 31, 2017 was $30.

EMPLOYEE SEVERANCE BENEFITS

EMPLOYEE SEVERANCE BENEFITS	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
EMPLOYEE SEVERANCE BENEFITS	NOTE 6 - EMPLOYEE SEVERANCE BENEFITS The Company's liability for severance pay for its Israeli employees is calculated pursuant to Israeli severance pay law based on the most recent salary of the employee multiplied by the number of years of employment, as of the balance sheet date, less amounts funded in each employee’s severance fund. Such liability is recorded on the Company’s balance sheet under “Liability for employee severance benefits” as if it were payable at each balance sheet date on an undiscounted basis. The Company partially secures this liability by purchasing insurance policies or establishing dedicated severance accounts within the relevant employees’ pension funds, and making monthly deposits under such policies or into such accounts. The value of these policies is recorded as an asset in the Company's balance sheet. During 2014, all of the Israeli employees agreed to the terms of Section 14 of the Israeli Severance Pay Law, 1963, according to which all deposits in the pension fund and/or with the insurance company, thereafter, exempt the Company from any additional obligation. These deposits are accounted as defined contribution payments and therefore not recorded on the Company’s balance sheet. Once the employees agreed to the terms of Section 14, all amounts funded on behalf of the employees were released to their full ownership. The liability for employee severance benefits as of December 31, 2017, The amount of severance payment expenses were $374, $244 and $193 for the years ended December 31, 2017, December 31, 2016 and December 31, 2015, respectively. During 2018, the Company expects to deposit approximately $739 with respect to employee’s severance benefits. Beginning September 2017, the Company has retirement savings plans available to all employees of the Subsidiary, which are intended to qualify as deferred compensation plans under Section 401(k) of the Internal Revenue Code (the “401k Plans”). The Company made contributions to these plans during the year ended December 31, 2017 of approximately $35.

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 7 - COMMITMENTS Lease agreement The Company leases office space for its headquarters and research and development facilities in Israel and the United States of America under several lease agreements. The lease agreements for the facilities in Israel are linked to the Israeli CPI and expire in December 2020. The lease agreement in the United States is due to expire during March 2019. In July 2017, the Company has entered into operating lease agreement in connection with a number of vehicles. The lease periods are generally for three years and the payments are linked to the Israeli CPI. To secure the terms of the lease agreements, the Company has made certain prepayments to the leasing company, representing approximately three months of lease payments. These amounts have been recorded as other non-current assets. Operating lease expenses for the years ended December 31, 2017, December 31, 2016 and December 31, 2015, are as follows: Year Ended December 31 2017 2016 2015 Rental expenses $ 645 $ 358 $ 352 Vehicles lease expenses $ 22 $ - $ - Future minimum lease commitments under non-cancelable operating lease agreements are as follows: 2018 $ 865 2019 756 2020 and thereafter 701 Total $ 2,322 The Company has a lien in the amount of $143 on the Company’s marketable securities in respect of bank guarantees granted in order to secure the lease agreements.

LOANS_

LOANS:	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
LOANS:	NOTE 8 - LOANS: a. Loan from the BIRD During the second quarter of 2016, the Company repaid the loan received from the Israel States Binational Industrial Research and Development Foundation (the "BIRD foundation") upon the completion of a certain clinical development. The loan, received in instalments between 2008 and 2011, was denominated in US dollars and linked to the US Consumer Price Index. b. Bank Borrowings During 2014 the Company entered into several finance agreements with a bank in order to finance the purchase of vehicles (hereinafter “the loans”). The loans are denominated in NIS and bear interest at a rate per annum equal to Prime minus 0.5%. The loans were fully repaid during 2017.

SHARE CAPITAL_

SHARE CAPITAL:	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
SHARE CAPITAL:	NOTE 9 - SHARE CAPITAL: a. Rights of the Company’s ordinary shares Each ordinary share is entitled to one vote. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available, when and if declared by the Board of Directors. Since its inception, the Company has not declared any dividends. b. Public offerings In September 2014, the Company completed an IPO, pursuant to which the Company issued 7,668,200 ordinary shares (including underwriters ‘green shoe’), NIS 0.16 par value (“Ordinary Shares”) at $6.00 per share raising a total of approximately $41,100, net of underwriting discounts, commissions and other offering expenses. On April 20, 2015, the Company completed a follow-on public offering. A total of 7,419,353 ordinary shares were sold at a price of $9.30 per share. Prior to closing, the underwriters fully exercised their option to purchase 967,741 additional ordinary shares. The net proceeds from the sale of shares, after deducting underwriting discounts, commissions and other offering expenses, were approximately $64,202. On September 30, 2016, the Company completed an additional offering in which 5,700,000 ordinary shares were sold at a price of $9.50 per share. On October 28, 2016, the underwriters partially exercised their ‘green shoe’ option and purchased additional ordinary shares. c. Warrants As of December 31, 2017, and December 31, 2016, the Company’s outstanding warrants were 1,394,558 and 1,807,800, respectively. Each warrant can be exercised for one ordinary share at an price of $5.04 per share or through a cashless exercise. The warrants are exercisable until May 13, 2018 (“Expiration date”). On the occasion where the warrants are not exercised by the Expiration date, and the fair value of share price on such day is higher than the warrant exercise price, the warrants shall be deemed automatically exercised by the warrant holder on a net issuance basis. During the years ended December 31, 2017 and December 31, 2016, 413,242 and 257,137 warrants were exercised into 191,793 and 257,137 ordinary shares, respectively. d. Share-based compensation In June 2009, the Company’s Board of Directors approved a share option plan and reserved a pool of 1,635,694 ordinary shares for grant to Company employees, consultants, directors and other service providers. In May 2015, the Company's board of directors approved a new option plan (the "Plan") replacing previous plan approved in 2009. The Plan includes a pool of 2,690,694 ordinary shares for grant to Company employees, consultants, directors and other service providers. During the years ended December 31, 2016 and December 31, 2017, a total increase of 2,900,000 ordinary shares was approved by the board of directors and registered with the Securities and Exchange Commission. As of 31, 2017, 2,076,088 shares remain available for grant under the Plan. The Plan is designed to enable the Company to grant options to purchase Ordinary Shares and RSUs various and different tax regimes including, without limitation: (i) pursuant and subject to Section 102 of the Israeli Tax Ordinance or any provision which may amend or replace it and any regulations, rules, orders or procedures promulgated thereunder and to designate them as either grants made through a trustee or not through a trustee; and (ii) pursuant and subject to Section 3(i) of the Israeli Tax Ordinance. The fair value of each option granted is estimated using the Black-Scholes option pricing method. The volatility is based on a combination of the Company’s historical volatility, historical volatilities of companies in comparable stages as well as companies in the industry, by statistical analysis of daily share pricing model. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected term of the options granted in dollar terms. The Company’s management uses the contractual term or its expectations, as applicable, of each option as its expected life. The expected term of the options granted is derived from the output of the option pricing model and represents the period of time that granted options are expected to remain outstanding. In the three years ended December 31, 2017, the Company granted options to employees and non-employees as follows: Year ended December 31, 2017 Award amount Exercise price range Vesting period Expiration Employees: Options 1,162,558 $5.22- $10.31 4 years 10 years RSU 350,694 - 4 years - Directors: Options 189,709 $4.69- $4.76 4 years 10 years RSU 19,397 - 4 years - Year ended December 31, 2016 Award amount Exercise price range Vesting period Expiration Employees: Options 715,310 $6.04- $8.54 4 years 10 years RSU 25,000 - 4 years - Directors: Options 24,000 $7.09 3 years 10 years Consultants: Options 4,800 $6.34 4 years 10 years Year ended December 31, 2015 Award amount Exercise price range Vesting period Expiration Employees: Options 852,501 $6.77- $10.88 4 years 10 years RSU 216,050 - 4 years - Directors: Options 27,000 $10.80-$11.87 3 years 10 years Consultants: Options 4,000 $10.88 4 years 10 years RSU 83,800 - 4 years - The fair value of options and RSUs granted to employees and directors during 2017, 2016 and 2015 was $8,510, $2,816 and $6,592 respectively. The fair value of options and RSUs granted to consultants during the years ended 2016 and 2015 was $42 and $686, respectively. The fair value of RSUs granted to employees and directors is based on the share price on grant date. The fair value of options granted to employees and directors on the date of grant was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Year ended December 31 2017 2016 2015 Value of ordinary share $4.44-$10.12 $5.9-$8.35 $6.96-$11.3 Dividend yield 0 % 0 % 0 % Expected volatility 58.41%-61.7 % 60.3%-63.2 % 60.1%-64.9 % Risk-free interest rate 1.97%-2.16 % 1.25%-1.86 % 1.38%-1.98 % Expected term 6 years 6 years 6 years The Total unrecognized compensation cost of employee and directors options and RSUs at December 31, 2017 is $9,340 which is expected to be recognized over a weighted average period of 2 years. The fair value of options granted during 2016 and 2015 to consultants, was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: December 31 2016 2015 Value of ordinary share $11.1 $8.11 Dividend yield 0 % 0 % Expected volatility 64.8 % 69.4 % Risk-free interest rate 2.38 % 2.27 % Expected term 9 years 10 years In June, 2017, the Company entered into new agreements with Dr. Dov Tamarkin and Mr. Meir Eini to serve as consultants, pursuant to their resignation from their roles as Chief Executive Officer and Chief Innovation Officer of the Company (see also Note 13), pursuant to which all options and RSUs previously awarded to Dr. Dov Tamarkin and Mr. Meir Eini will remain outstanding and continue to vest as though they remained employed by the Company through each applicable vesting date. In addition to the new agreements with Dr. Dov Tamarkin and Mr. Meir Eini, the Company entered into a similar agreement with another employee who has become a consultant to the Company. Pursuant to the agreement all options and RSUs previously awarded to the employee will remain outstanding and continue to vest as though he remained employed by the Company through each applicable vesting date, as long as he remains a consultant to the Company. The retention of the options and RSUs was considered a Type III modification for share-based compensation, and, as a result, the Company reversed all expense previously recorded for these retained awards in the amount of $2,037 and recorded the new compensation expense in the amount of $1,058 over the new requisite service period. The following table summarizes the number of options outstanding for the years ended December 31, 2017, December 31, 2016 and December 31, 2015, and related information: Employees and directors Consultants and service providers Number of options USD (1) Number of options USD (1) Outstanding at January 1, 2015 904,250 $ 3.28 266,875 $ 2.10 Granted 879,501 7.72 4,000 10.88 Exercised (29,525 ) 1.92 (150,000 ) 1.92 Re-designated (2) (27,000 ) 5.88 27,000 5.88 Outstanding at December 31, 2015 1,727,226 $ 5.41 147,875 $ 3.24 Granted 739,310 6.55 4,800 6.34 Forfeited (20,000 ) 6.66 (15,625 ) 7.98 Exercised (69,444 ) 1.64 - - Outstanding at December 31, 2016 2,377,092 $ 5.87 137,050 $ 2.81 Granted 1,352,267 7.47 - - Forfeited (39,213 ) 7.93 (8,800 ) 8.40 Exercised (61,881 ) 2.63 - - Re-designated (3) (252,210 ) 7.71 252,210 7.71 Outstanding at December 31, 2017 3,376,055 $ 6.41 380,460 $ 5.93 (1) Weighted average price per share (2) Pursuant to change in status of grantee from ‘director’ to ‘consultant’ during the reporting period. (3) Pursuant to change in status of grantees from ‘employee’ and ‘Director’ to ‘consultant’ during the reporting period. The following table summarizes the number of RSUs outstanding for the years ended December 31, 2017 and December 31, 2016: Employees and directors Consultants and service providers Number of RSUs Outstanding at January 1, 2016 186,800 63,050 Awarded 25,000 - Vested (69,117 ) (21,000 ) Outstanding at December 31, 2016 142,683 42,050 Awarded 370,091 - Forfeited (4,025 ) (550 ) Vested (43,038 ) (33,625 ) Re-designated (1) (78,120 ) 78,120 Outstanding at December 31, 2017 387,591 85,995 (1) Pursuant to change in status of grantees from ‘employee’ and ‘Director’ to ‘consultant’ during the reporting period. The following tables summarizes information concerning outstanding and exercisable options as of December 31, 2017: December 31, 2017 Options outstanding Options exercisable Number of Weighted Number of Weighted options average options Average Exercise outstanding remaining exercisable Remaining prices per at end of contractual at end of contractual share (USD) year life year Life 0.048-1.312 268,125 1.90 268,125 1.90 1.92 258,587 4.08 252,650 4.03 4.687-4.761 189,709 9.53 - - 5.216-5.879 810,175 8.75 253,600 6.98 6.04-6.77 766,010 8.02 364,154 7.83 7.093-8.545 757,126 7.82 365,032 7.66 10.217-11.868 706,783 8.85 80,719 7.59 3,756,515 1,584,280 The aggregate intrinsic value of the total outstanding and exercisable options as of December 31, 2017, is $3,083 and $2,555 respectively. The following table illustrates the effect of share-based compensation on the statements of operations: Year ended December 31 2017 2016 2015 Cost of revenues $ 2 $ 3 $ 2 Research and development expenses 1,711 1,135 588 Selling, general and administrative 2,453 1,774 1,187 $ 4,166 $ 2,912 $ 1,777

INCOME TAX_

INCOME TAX:	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAX:	NOTE 10 - INCOME TAX: The Company is taxed under Israel and the United States of America tax laws: a. Tax rates: 1) Income from Israel was taxed at the corporate tax rate of 26.5% in 2015, 25% in 2016, and 24% in 2017. Capital gains are subject to capital gain tax, which equals to 25%. In December 2016, the Economic Efficiency Law (Legislative Amendments for Implementing the Economic Policy for the 2017 and 2018 Budget Year), 2016 was published, introducing a gradual reduction in corporate tax rate from 25% to 23%. However, the law also included a temporary provision setting the corporate tax rate in 2017 at 24%. As a result, the corporate tax rate in 2017 was 24% and in 2018 and thereafter reduced to 23%. 2) Income of the subsidiary is taxed according to the federal tax laws in the US and the relevant state laws. The relevant U.S. statutory tax rates for 2017, 2016 and 2015 were 35%, 35% and 30%, respectively. The relevant state tax rate for 2017, 2016 and 2015 was 9%. The U.S. Tax Cuts and Jobs Act (Tax Act) was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35% to 21% and creates new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively. b. Tax assessments Foamix has tax assessments that are considered to be final through tax year 2012. c. Tax benefits under the Law for Encouragement of Industry (Taxation), 1969 Foamix believes that it currently qualifies as an "Industrial Company" under the above law. As such it is entitled to certain tax benefits, mainly the right to deduct share issuance costs over three years for tax purposes in the event of a public offering. Foamix utilizes this tax benefit. d. Losses for tax purposes carried forward to future years As of December 31, 2017, Foamix had approximately $88.6 million of net carry forward tax losses in Israel, which are available to reduce future taxable income with no limited period of use. e. Subsidiary tax liability During 2017, 2016 and 2015, the US subsidiary incurred a tax expense in the amount of $1,164, $387 and $39, respectively. f. Deferred income taxes: December 31, 2017 2016 In respect of: Net operating loss carry forward $ 20,385 $ 11,512 Research and development 9 , 4,147 Other 608 332 Less - valuation allowance (30 , ) (15 , ) Net deferred tax assets $ - $ - Realization of deferred tax assets is contingent upon sufficient future taxable income during the period that deductible temporary differences and carry forward losses are expected to be available to reduce taxable income. As the achievement of required future taxable income is not likely, the Company recorded a full valuation allowance. Deferred tax has not been provided on taxes that would apply in the event of disposal of the investments in the subsidiary, as it is the Company’s intention to hold this investment and not to realize it. Foamix may incur an additional tax liability in the event of an inter-company dividend distribution from its subsidiary; no additional deferred taxes have been provided, since it is the Company’s policy not to distribute in the foreseeable future, dividends which would result in additional tax liability. Following is a reconciliation of the theoretical tax benefit, assuming all income is taxed at the statutory corporate tax rate applicable to Israeli corporations, and the actual tax expense: Year ended December 31 2017 2016 2015 Loss before income taxes $ 64,551 $ 28,949 $ 16,478 Theoretical tax benefit on the above amount (15,492 ) (7,237 ) (4,367 ) Decrease (increase) in tax refund resulting from: Reduction and different corporate tax rates 711 1,965 - Non-deductible expenses and other permanent differences, mainly share based compensation expenses and issuance costs 80 (491 ) (585 ) Uncertain tax position 988 - - Net change in valuation allowance 14,858 5,777 3,973 Other 19 373 1,018 Actual tax expense $ 1,164 $ 387 $ 39 g. ASC No. 740, Income Taxes, requires significant judgment in determining what constitutes an individual tax position as well as assessing the outcome of each tax position. Changes in judgment as to recognition or measurement of tax positions can materially affect the estimate of the effective tax rate and consequently, affect the operating results of the Company. The following table summarizes the activity of the Company unrecognized tax benefits: Year ended December 31, 2017 Balance at January 1, 2017 $ - Increase in uncertain tax positions for the current year 988 Balance at December 31, 2017 $ 988 The Company does not expect unrecognized tax expenses to change significantly over the next 12 months. h. Ro ll forward of valuation allowance: Balance at January 1, 2015 $ 6,241 Additions 3,973 Balance at December 31, 2015 $ 10,214 Additions 5,777 Balance at December 31, 2016 $ 15 , Additions 14,858 Balance at December 31, 2017 $ 30,849

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:	12 Months Ended
	Dec. 31, 2017
Supplementary Financial Statement Information: [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:	NOTE 11 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: Balance sheets: December 31 2017 2016 a. Account receivable - Institutions $ 91 $ 174 Prepaid expenses 588 246 Other 93 18 $ 772 $ 438 b. Accounts payable and accruals - Accrued expenses $ 1,622 $ 709 Payroll and related institutions 872 581 Bonus accrual 1,166 1,661 Other 70 33 $ 3,730 $ 2,984 Statements of operations : c. Revenues In the year ended December 31, 2017 and 2016, the Company’s revenues were driven virtually all from one main customer. Based on the agreement with this customer the Company is entitled to royalty payments with respect to sales of a product developed by the customer in collaboration with the Company. The following table provides a breakdown of the Company’s net revenues: Year ended December 31 2017 2016 2015 Development Service Payments $ 140 $ 63 $ 596 Contingent Payments - 2,500 - Royalties 3,529 2,964 253 Total revenues $ 3,669 $ 5,527 $ 849 d. Finance income, : Year ended December 31 2017 2016 2015 Finance expenses: Finance expenses on BIRD loan - 243 * Foreign exchange losses, net 57 - - Other expenses 14 17 23 Total finance expenses 71 260 23 Finance income: Gains from securities, net (602 ) (401 ) (180 ) Interest on bank deposits (532 ) (536 ) (289 ) Foreign exchange gains, net - (24 ) (6 ) Total finance income (1,134 ) (961 ) (475 ) $ (1,063 ) $ (701 ) $ (452 ) * Represents an amount less than $1.

ENTITY-WIDE DISCLOSURE_

ENTITY-WIDE DISCLOSURE:	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
ENTITY-WIDE DISCLOSURE:	NOTE 12 - ENTITY-WIDE DISCLOSURE: a. Net revenues by geographic area were as follows: Year ended December 31 2017 2016 2015 Germany $ 3,529 $ 5,464 $ 253 United States 140 14 587 France - 49 9 Total revenues $ 3,669 $ 5,527 $ 849 b. Revenues from principal customers Year ended December 31 2017 2016 2015 Customer A $ - $ - $ 86 Customer B $ - $ 14 $ 366 Customer C $ 3,529 $ 5,464 $ 253 Customer D $ - $ - $ 135

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTIES - TRANSACTIONS AND BALANCES:	NOTE 13 - RELATED PARTY TRANSACTIONS In June 2017, the Company entered into new agreements with Dr. Dov Tamarkin and Mr. Meir Eini pursuant to their resignation from their roles as Chief Executive Officer and Chief Innovation Officer of the Company, respectively, effective as of June 29, 2017. As part of the agreements, as of July 1, 2017, Dr. Tamarkin and Mr. Eini began to serve as consultants to the Company. In addition, Dr. Tamarkin and Mr. Eini will retain all outstanding stock options and RSUs, as long as they serve as consultants of the Company and are entitled to cash severance payments in the total amount of $1,800, out of which approximately $600 was paid as of December 31, 2017. In January 2018, subsequent to balance sheet date, Dr. Tamarkin has reached an agreement with the Company pursuant to which he will discontinue his services as Chief Scientific Advisor to the Company, in addition to his resignation from the board of directors.

Supplemental Financial Informat

Supplemental Financial Information	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Supplemental Financial Information	Supplemental Financial Information Unaudited selected quarterly financial results for the years ended December 31, 2017 and 2016 were as follows: 2017 2016 First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands of U.S. dollars, other than loss per share) Revenues $ 927 $ 798 $ 901 $ 1,043 $ 745 $ 752 $ 2,544 $ 1,486 Cost of revenues - - 11 2 31 12 8 8 Gross profit 927 798 890 1,041 714 740 2,536 1,478 Operating loss 14,570 16,593 17,828 16,623 4,562 8,122 5,946 11,020 Loss per share basic and diluted $ 0.39 $ 0.44 $ 0.47 $ 0.46 $ 0.15 $ 0.27 $ 0.19 $ 0.29

SIGNIFICANT ACCOUNTING POLICI23

SIGNIFICANT ACCOUNTING POLICIES: (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of presentation	a. Basis of presentation
Use of estimates in the preparation of financial statements	b. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to the fair value of share-based compensation and clinical trials accruals.
Functional currency	c. Functional currency The U.S. dollar ( “dollar”) Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in non-dollar currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For non-dollar transactions and other items in the statements of operations (indicated below), the following exchange rates are used: (i) for transactions - exchange rates at transaction dates or average rates; and (ii) for other items (derived from non-monetary balance sheet items such as depreciation and amortization, etc.) - historical exchange rates. Currency transaction gains and losses are presented in financial income or expenses, as appropriate.
Principles of consolidation	d. Principles of consolidation The consolidated financial statements include the accounts of Foamix and its subsidiary. Intercompany balances and transactions have been eliminated upon consolidation.
Cash and cash equivalents	e. Cash and cash equivalents The Company considers as cash equivalents all short-term, highly liquid investments, which include short-term bank deposits with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash.
Bank deposits	f. Bank deposits Bank deposits with original maturity dates of more than three months but at balance sheet date are less than one year are included in short-term deposits. Bank deposits with maturity of more than one year are considered long-term. The interest rates on the Company’s deposits range between 1.0%-1.9%. The fair value of bank deposits
Marketable securities	g. Marketable securities The Company invests in debt and mutual funds securities classified as available for sale in accordance with ASC 320, Investments - Debt and Equity Securities. Management determines the appropriate classification of its investments in securities at the time of purchase and reevaluates such determinations at each balance sheet date. Classifications of debt securities in the balance sheet are determined based on the maturity date of the securities. Unrealized gains of available for sale securities, net of taxes, are reflected in other comprehensive income (loss). Unrealized losses considered to be temporary are reflected in other comprehensive income (loss); unrealized losses that are considered to be other-than-temporary are charged to income as an impairment charge. Realized gains and losses for both debt and equity securities are included in financial income, net. For equity securities, the Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost. For debt securities, an .
Derivatives	h. Derivatives The Company purchases foreign exchange derivative financial instruments (written and purchased currency options). The transactions are designed to hedge the Company’s currency exposure. The Company recognizes all derivatives as either assets or liabilities in the consolidated balance sheet at their fair value. Changes in the fair value of derivatives that are highly effective and designated as cash flow hedges are reported as a component of other comprehensive income or loss and reclassified into earnings in the same line-item associated with the forecasted transaction and in the same periods during which the hedged transaction impacts earnings. For derivatives that qualify for hedge accounting, the cash flows associated with these derivatives are reported in the consolidated statements of cash flows consistently with the classification of cash flows from the underlying hedged items that these derivatives are hedging.
Property and equipment	i. Property and equipment: 1) Property and equipment are stated at cost, net of accumulated depreciation and amortization. 2) The Company’s property and equipment are depreciated by the straight-line method on the basis of their estimated useful life. % Computers 20-33 Laboratory equipment 7-15 Office furniture and equipment 7-20 Vehicles 15 Leasehold improvements are amortized by the straight-line method over the expected lease term, which is shorter than the estimated useful life of the improvements.
Impairment of long-lived assets	j. Impairment of long-lived assets The Company tests long-lived assets for impairment whenever events or circumstances present an indication of impairment. If the sum of expected future cash flows (undiscounted and without interest charges) of the assets is less than the carrying amount of such assets, an impairment loss would be recognized. The assets would be written down to their estimated fair values, calculated based on the present value of expected future cash flows (discounted cash flows), or some other fair value measure. For the three years ended December 31, 2017, the Company did not recognize an impairment loss for its long-lived assets.
Allowance for doubtful accounts	k. Allowance for doubtful accounts The Company performs ongoing credit evaluations to estimate the need for maintaining reserves for potential credit losses. An allowance for doubtful accounts is recognized on a specific basis with respect to those amounts that the Company has determined to be doubtful of collection. No allowance for doubtful accounts was recorded in the three years ended December 31, 2017.
Contingencies	l. Contingencies Certain conditions may exist as of the date of the financial statements, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. Management applies the guidance in ASC 450-20-25 when assessing losses resulting from contingencies. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability is recorded as accrued expenses in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material are disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantees are disclosed.
Share-based compensation	m. Share-based compensation The Company accounts for employees’ and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period. As of January 1, 2017, forfeitures are recognized as they occur. The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method based on the multiple-option award approach. When options and restricted share units (hereinafter “RSUs”) are granted as consideration for services provided by consultants and other non-employees, the grant is accounted for based on the fair value of the consideration received or the fair value of the awards issued, whichever is more reliably measurable. The fair value of the awards granted is measured on a final basis at the end of the related service period and is recognized over the related service period using the straight-line method.
Revenue recognition	n. Revenue recognition The Company's revenues are derived from development and license agreements for development of products combining the Company's foam technology with a drug selected by the licensee. The significant deliverables in the agreements between the Company and its licensees are the obligation of the Company to provide development services and the grant of an exclusive license to the specific product developed. These deliverables are combined into one single unit of accounting for revenue recognition purposes since: · Each element does not have value on a stand-alone basis. · In order to develop the combined formulation in the licensed product, the use of the Company’s propriety technology is required. Therefore, the Company is the only party capable of performing the level and type of development services required under the agreement. The Company’s development and license agreements entitle the Company to: · Development payments, including upfront payments, cost reimbursements and payments contingent only upon passage of time (together - “Development Service Payments”). · Payments contingent solely upon performance or achievement of clinical results by the Company’s licensees (“Contingent Payments”). · Royalties, calculated as a percentage of sales of the developed products made by the Company's licensees. Revenues from Development Service Payments under development and license agreements are recognized as the services are provided. When the Company receives a portion of the Development Service Payment before performance of such services, these advances are recorded as deferred revenues and recognized as revenues as services are performed. Contingent Payments are recognized when the licensee’s performance or achievement event occurs. Royalties are recognized when subsequent sales are made by the licensees.
Research and development costs	o. Research and development costs Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of clinical trials, clinical trial supplies, salaries, share-based compensation expenses, payroll taxes and other employee benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred.
Clinical trial accruals	p. Clinical trial accruals Clinical trial expenses are charged to research and development expense as incurred. The Company accrue for expenses resulting from obligations under contracts with clinical research organizations (CROs). The financial terms of these contracts are subject to negotiations, which vary from contract to contract and may result in payment flows that do not match the periods over which materials or services are provided. The Company’s objective is to reflect the appropriate trial expense in the consolidated financial statements by matching the appropriate expenses with the period in which services and efforts are expended. In the event advance payments are made to a CRO, the payments are recorded as other assets, which will be recognized as expenses as services are rendered.
Income taxes:	q. Income taxes: 1) Deferred taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. Given the Company’s losses, the Company has provided a full valuation allowance with respect to its deferred tax assets. 2) Uncertainty in income tax The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained based on technical merits. If this threshold is met, the second step is to measure the tax position as the largest amount that has more than a 50% likelihood of being realized upon ultimate settlement.
Loss per share	r. Loss per share Net loss per share, basic and diluted, is computed on the basis of the net loss for the year divided by the weighted average number of common shares outstanding during the year. Diluted net loss per share is based upon the weighted average number of common shares and of common shares equivalents outstanding when dilutive. Common share equivalents include outstanding stock options and warrants which are included under the treasury share method when dilutive. The following share options, RSUs and warrants were excluded from the calculation of diluted net loss per ordinary share because their effect would have been anti-dilutive for the years presented (share data): Year ended December 31 2017 2016 2015 Outstanding share options and RSUs 4 , , 2,698,875 2,124,951 Warrants 1,394 , 1,807,800 2,064,937
Fair value measurement	s. Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data or active market data of similar or identical assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value.
Concentration of credit risks	t. Concentration of credit risks Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, restricted cash, bank deposits, marketable securities and certain receivables. The Company deposits cash and cash equivalents with highly rated financial institutions and, as a matter of policy, limits the amounts of credit exposure to any single financial institution. In addition, all marketable securities carry a high rating or are government insured. The Company has not experienced any material credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments.
Comprehensive loss	u. Comprehensive loss Comprehensive loss includes, in addition to net loss, unrealized holding gains and losses Reclassification adjustments for gain or loss of available for sales securities are included in finance expenses net in the statement of operations.
Newly issued and recently adopted accounting pronouncements	v. Newly issued and recently adopted accounting pronouncements: Accounting pronouncements adopted in 2017: 1) In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718). ASU No. 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The Company adopted this standard as of January 1, 2017, and elected the option to recognize gross stock compensation expense with actual forfeitures recognized as they occur. 2) In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows Topic 230: Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 issued guidance to clarify how certain cash receipts and cash payments should be presented in the statement of cash flows. This standard, adopted as of January 1, 2017, had no material impact on the Company’s consolidated financial statements. Accounting pronouncements that are not yet effective and have not been early adopted by the Company: 3) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process that requires companies to exercise more judgment and make more estimates than under the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The Company intends to adopt the guidance using the modified retrospective approach, with the cumulative effect of initially applying the guidance recognized at the date of initial application, with effect from January 1, 2018. The Company generates revenue primarily from its development and licensing agreements. The consideration the Company is eligible to receive under its agreements typically include upfront payments, reimbursement for research and development costs, contingent payments, royalties and other contingent payments for the achievement of certain sales targets . As the current revenue of the Company is driven primarily from royalties and contingent payments as mentioned above, the Company anticipates that the adoption of the new standard will not have a material effect on its consolidated financial statements. 4) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10), which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This guidance is effective for interim and annual periods beginning after December 15, 2017. The amended guidance requires changes in the fair value of equity investments to be recognized through net income, rather than other comprehensive income. Adoption of the standard will be applied through a cumulative one-time adjustment to retained earnings. For the Company’s equity investments without readily determinable fair values, the Company expects to elect the measurement alternative to record those investments at cost, less impairment, and adjusted by observable price changes on a prospective basis. The impact of the standard on the consolidated statements of operations will depend on the relative changes in market price of the equity investments, although the impact is currently expected to be immaterial. 5) In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective for interim and annual periods beginning after December 15, 2018. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact of this new standard on its consolidated financial statements, although the impact is currently expected to be immaterial. 6) In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments. This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time, as they do today. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. 7) In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This new standard amends the amortization period for certain purchased callable debt securities held at a premium by shortening the amortization period for the premium to the earliest call date. The new standard will be effective for interim and annual reporting periods beginning after December 15, 2018. The Company anticipates that the adoption of the new standard will not have a material effect on its consolidated financial statements. 8) In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. ASU 2017-09 was issued to provide clarity and reduce both 1) diversity in practice and 2) cost and complexity when applying the guidance in Topic 718 to a change in the terms or conditions of a share-based payment award. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting under Topic 718. The amendments in ASU 2017-09 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period. The amendments in ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. 9) In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities. This new standard aims to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The updated standard will be effective for interim and annual reporting periods beginning after December 15, 2018 and must be applied using a modified retrospective approach; however, early adoption of the ASU is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI24

SIGNIFICANT ACCOUNTING POLICIES: (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of annual rates of depreciation of property and equipment	% Computers 20-33 Laboratory equipment 7-15 Office furniture and equipment 7-20 Vehicles 15
Schedule of anti-dilutive securities	The following share options, RSUs and warrants were excluded from the calculation of diluted net loss per ordinary share because their effect would have been anti-dilutive for the years presented (share data): Year ended December 31 2017 2016 2015 Outstanding share options and RSUs 4 , , 2,698,875 2,124,951 Warrants 1,394 , 1,807,800 2,064,937

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities that are measured at fair value	The Company’s assets and liabilities that are measured at fair value as of December 31, 2017, and December 31, 2016, are classified in the tables below in one of the three categories described in note 2s above: December 31, 2017 Level 1 Level 2 Total Marketable securities $ 987 $ 39,776 $ 40,763 Currency options designated as hedging instruments (current asset) - $ 11 $ 11 December 31, 2016 Level 1 Level 2 Total Marketable securities $ 957 $ 60,24 0 $ 61,197 Currency options designated as hedging instruments (current asset) - $ 2 $ 2

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	T December 31 2017 2016 Israeli mutual funds $ 987 $ 957 Certificates of deposit 17,206 33,350 Government and agency bonds 22,570 26,890 Total $ 40,763 $ 61,197
Schedule of the fair value, cost and gross unrealized holding gains of the securities owned	At December 31, 2017 and 2016, the fair value, cost and gross unrealized holding gains of the securities owned by the Company were as follows: December 31, 2017 Fair Cost or Amortized cost Gross unrealized Gross unrealized Israeli mutual funds $ 987 $ 952 $ - $ 35 Certificates of deposit 17,206 17,243 38 1 Government and agency bonds 22,570 22,638 68 - Total $ 40,763 $ 40,833 $ 106 $ 36 December 31, 2016 Fair Cost or Amortized cost Gross unrealized Gross unrealized Israeli mutual funds $ 957 $ 952 $ - $ 5 Certificates of deposit 33,350 33,408 68 10 Government and agency bonds 26,890 26,901 13 2 Total $ 61,197 $ 61,261 $ 81 $ 17
Schedule of maturity dates of debt securities	As of December 31, 2017, and December 31, 2016, the Company’s debt securities had the following maturity dates: Market value December 31 2017 2016 Due within one year $ 31,244 $ 42,708 1 to 2 years 8,380 14,513 2 to 3 years 152 3,019 Total $ 39,776 $ 60,240

PROPERTY AND EQUIPMENT_ (Tables

PROPERTY AND EQUIPMENT: (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31 2017 2016 Cost: Leasehold improvements $ 902 $ 229 Computers and software 299 187 Laboratory equipment 1,257 896 Furniture 288 96 Vehicles 106 198 2,852 1,606 Less: Accumulated depreciation and amortization 810 668 Property and Equipment, net $ 2,042 $ 938

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating lease expense	Operating lease expenses for the years ended December 31, 2017, December 31, 2016 and December 31, 2015, are as follows: Year Ended December 31 2017 2016 2015 Rental expenses $ 645 $ 358 $ 352 Vehicles lease expenses $ 22 $ - $ -
Schedule of Future Minimum Lease Commitments	Future minimum lease commitments under non-cancelable operating lease agreements are as follows: 2018 $ 865 2019 756 2020 and thereafter 701 Total $ 2,322

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of options granted to employees and non-employees	In the three years ended December 31, 2017, the Company granted options to employees and non-employees as follows: Year ended December 31, 2017 Award amount Exercise price range Vesting period Expiration Employees: Options 1,162,558 $5.22- $10.31 4 years 10 years RSU 350,694 - 4 years - Directors: Options 189,709 $4.69- $4.76 4 years 10 years RSU 19,397 - 4 years - Year ended December 31, 2016 Award amount Exercise price range Vesting period Expiration Employees: Options 715,310 $6.04- $8.54 4 years 10 years RSU 25,000 - 4 years - Directors: Options 24,000 $7.09 3 years 10 years Consultants: Options 4,800 $6.34 4 years 10 years Year ended December 31, 2015 Award amount Exercise price range Vesting period Expiration Employees: Options 852,501 $6.77- $10.88 4 years 10 years RSU 216,050 - 4 years - Directors: Options 27,000 $10.80-$11.87 3 years 10 years Consultants: Options 4,000 $10.88 4 years 10 years RSU 83,800 - 4 years -
Summary of the number of options outstanding	The following table summarizes the number of options outstanding for the years ended December 31, 2017, December 31, 2016 and December 31, 2015, and related information: Employees and directors Consultants and service providers Number of options USD (1) Number of options USD (1) Outstanding at January 1, 2015 904,250 $ 3.28 266,875 $ 2.10 Granted 879,501 7.72 4,000 10.88 Exercised (29,525 ) 1.92 (150,000 ) 1.92 Re-designated (2) (27,000 ) 5.88 27,000 5.88 Outstanding at December 31, 2015 1,727,226 $ 5.41 147,875 $ 3.24 Granted 739,310 6.55 4,800 6.34 Forfeited (20,000 ) 6.66 (15,625 ) 7.98 Exercised (69,444 ) 1.64 - - Outstanding at December 31, 2016 2,377,092 $ 5.87 137,050 $ 2.81 Granted 1,352,267 7.47 - - Forfeited (39,213 ) 7.93 (8,800 ) 8.40 Exercised (61,881 ) 2.63 - - Re-designated (3) (252,210 ) 7.71 252,210 7.71 Outstanding at December 31, 2017 3,376,055 $ 6.41 380,460 $ 5.93 (1) Weighted average price per share (2) Pursuant to change in status of grantee from ‘director’ to ‘consultant’ during the reporting period. (3) Pursuant to change in status of grantees from ‘employee’ and ‘Director’ to ‘consultant’ during the reporting period.
Summary of the number of RSUs outstanding under the Plan	The following table summarizes the number of RSUs outstanding for the years ended December 31, 2017 and December 31, 2016: Employees and directors Consultants and service providers Number of RSUs Outstanding at January 1, 2016 186,800 63,050 Awarded 25,000 - Vested (69,117 ) (21,000 ) Outstanding at December 31, 2016 142,683 42,050 Awarded 370,091 - Forfeited (4,025 ) (550 ) Vested (43,038 ) (33,625 ) Re-designated (1) (78,120 ) 78,120 Outstanding at December 31, 2017 387,591 85,995 (1) Pursuant to change in status of grantees from ‘employee’ and ‘Director’ to ‘consultant’ during the reporting period.
Summary of the information concerning outstanding and exercisable options	The following tables summarizes information concerning outstanding and exercisable options as of December 31, 2017: December 31, 2017 Options outstanding Options exercisable Number of Weighted Number of Weighted options average options Average Exercise outstanding remaining exercisable Remaining prices per at end of contractual at end of contractual share (USD) year life year Life 0.048-1.312 268,125 1.90 268,125 1.90 1.92 258,587 4.08 252,650 4.03 4.687-4.761 189,709 9.53 - - 5.216-5.879 810,175 8.75 253,600 6.98 6.04-6.77 766,010 8.02 364,154 7.83 7.093-8.545 757,126 7.82 365,032 7.66 10.217-11.868 706,783 8.85 80,719 7.59 3,756,515 1,584,280
Schedule of share-based compensation	The following table illustrates the effect of share-based compensation on the statements of operations: Year ended December 31 2017 2016 2015 Cost of revenues $ 2 $ 3 $ 2 Research and development expenses 1,711 1,135 588 Selling, general and administrative 2,453 1,774 1,187 $ 4,166 $ 2,912 $ 1,777
Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of underlying data used for computing the fair value of the options	The underlying data used for computing the fair value of the options are as follows: Year ended December 31 2017 2016 2015 Value of ordinary share $4.44-$10.12 $5.9-$8.35 $6.96-$11.3 Dividend yield 0 % 0 % 0 % Expected volatility 58.41%-61.7 % 60.3%-63.2 % 60.1%-64.9 % Risk-free interest rate 1.97%-2.16 % 1.25%-1.86 % 1.38%-1.98 % Expected term 6 years 6 years 6 years
Consultants and other service providers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of underlying data used for computing the fair value of the options	The underlying data used for computing the fair value of the options are as follows: December 31 2016 2015 Value of ordinary share $11.1 $8.11 Dividend yield 0 % 0 % Expected volatility 64.8 % 69.4 % Risk-free interest rate 2.38 % 2.27 % Expected term 9 years 10 years

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of deferred income taxes	December 31, 2017 2016 In respect of: Net operating loss carry forward $ 20,385 $ 11,512 Research and development 9 , 4,147 Other 608 332 Less - valuation allowance (30 , ) (15 , ) Net deferred tax assets $ - $ -
Schedule of reconciliation of the theoretical tax benefit	Following is a reconciliation of the theoretical tax benefit, assuming all income is taxed at the statutory corporate tax rate applicable to Israeli corporations, and the actual tax expense: Year ended December 31 2017 2016 2015 Loss before income taxes $ 64,551 $ 28,949 $ 16,478 Theoretical tax benefit on the above amount (15,492 ) (7,237 ) (4,367 ) Decrease (increase) in tax refund resulting from: Reduction and different corporate tax rates 711 1,965 - Non-deductible expenses and other permanent differences, mainly share based compensation expenses and issuance costs 80 (491 ) (585 ) Uncertain tax position 988 - - Net change in valuation allowance 14,858 5,777 3,973 Other 19 373 1,018 Actual tax expense $ 1,164 $ 387 $ 39
Schedule of activity of the company unrecognized tax benefits	The following table summarizes the activity of the Company unrecognized tax benefits: Year ended December 31, 2017 Balance at January 1, 2017 $ - Increase in uncertain tax positions for the current year 988 Balance at December 31, 2017 $ 988
Schedule rollforward of valuation allowance	Balance at January 1, 2015 $ 6,241 Additions 3,973 Balance at December 31, 2015 $ 10,214 Additions 5,777 Balance at December 31, 2016 $ 15 , Additions 14,858 Balance at December 31, 2017 $ 30,849

SUPPLEMENTARY FINANCIAL STATE31

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: (Tables)	12 Months Ended
	Dec. 31, 2017
Supplementary Financial Statement Information: [Abstract]
Schedule of supplementary balance sheets	Balance sheets: December 31 2017 2016 a. Account receivable - Institutions $ 91 $ 174 Prepaid expenses 588 246 Other 93 18 $ 772 $ 438 b. Accounts payable and accruals - Accrued expenses $ 1,622 $ 709 Payroll and related institutions 872 581 Bonus accrual 1,166 1,661 Other 70 33 $ 3,730 $ 2,984
Schedule of supplementary statements of operations	The following table provides a breakdown of the Company’s net revenues: Year ended December 31 2017 2016 2015 Development Service Payments $ 140 $ 63 $ 596 Contingent Payments - 2,500 - Royalties 3,529 2,964 253 Total revenues $ 3,669 $ 5,527 $ 849 d. Finance income, : Year ended December 31 2017 2016 2015 Finance expenses: Finance expenses on BIRD loan - 243 * Foreign exchange losses, net 57 - - Other expenses 14 17 23 Total finance expenses 71 260 23 Finance income: Gains from securities, net (602 ) (401 ) (180 ) Interest on bank deposits (532 ) (536 ) (289 ) Foreign exchange gains, net - (24 ) (6 ) Total finance income (1,134 ) (961 ) (475 ) $ (1,063 ) $ (701 ) $ (452 ) * Represents an amount less than $1.

ENTITY-WIDE DISCLOSURE_ (Tables

ENTITY-WIDE DISCLOSURE: (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of net revenues by geographic area	Net revenues by geographic area were as follows: Year ended December 31 2017 2016 2015 Germany $ 3,529 $ 5,464 $ 253 United States 140 14 587 France - 49 9 Total revenues $ 3,669 $ 5,527 $ 849
Schedule of revenues from single customers that exceed 10% of total revenues	Revenues from principal customers Year ended December 31 2017 2016 2015 Customer A $ - $ - $ 86 Customer B $ - $ 14 $ 366 Customer C $ 3,529 $ 5,464 $ 253 Customer D $ - $ - $ 135

Supplemental Financial Inform33

Supplemental Financial Information (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited selected quarterly financial results	Unaudited selected quarterly financial results for the years ended December 31, 2017 and 2016 were as follows: 2017 2016 First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands of U.S. dollars, other than loss per share) Revenues $ 927 $ 798 $ 901 $ 1,043 $ 745 $ 752 $ 2,544 $ 1,486 Cost of revenues - - 11 2 31 12 8 8 Gross profit 927 798 890 1,041 714 740 2,536 1,478 Operating loss 14,570 16,593 17,828 16,623 4,562 8,122 5,946 11,020 Loss per share basic and diluted $ 0.39 $ 0.44 $ 0.47 $ 0.46 $ 0.15 $ 0.27 $ 0.19 $ 0.29

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 141,281	$ 75,566
Minimum period for which Company's cash and cash equivalents and available for sale securities will allow to fund its operating plan	12 months

SIGNIFICANT ACCOUNTING POLICI35

SIGNIFICANT ACCOUNTING POLICIES: (Schedule of Annual Rates of Depreciation of Property and Equipment) (Details)	Dec. 31, 2017
Computers [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	20.00%
Computers [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	33.00%
Laboratory equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	7.00%
Laboratory equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	15.00%
Office furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	7.00%
Office furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	20.00%
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Annual depreciation percentage	15.00%

SIGNIFICANT ACCOUNTING POLICI36

SIGNIFICANT ACCOUNTING POLICIES: (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deposits [Abstract]
Bank deposits interest rate, minimum	1.00%
Bank deposits interest rate, maximum	1.90%
Allowance for doubtful accounts
Allowance for doubtful accounts	$ 0	$ 0	$ 0
Share options and RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted net loss per share, because the effect of their inclusion in the computation would be anti-dilutive	4,230,101	2,698,875	2,124,951
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted net loss per share, because the effect of their inclusion in the computation would be anti-dilutive	1,394,558	1,807,800	2,064,937

FAIR VALUE MEASUREMENTS (Schedu

FAIR VALUE MEASUREMENTS (Schedule of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 40,763	$ 61,197
Currency options designated as hedging instruments (current asset)	11	2
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	987	957
Currency options designated as hedging instruments (current asset)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	39,776	60,240
Currency options designated as hedging instruments (current asset)	$ 11	$ 2

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details) - 12 months ended Dec. 31, 2017 ₪ in Thousands, $ in Thousands	USD ($)	ILS (₪)
FAIR VALUE MEASURMENTS [Abstract]
Currency hedging transactions, maximum term	1 year
Total hedged amount | ₪		₪ 5,300
Derivative asset	$ 11
Foreign exchange risk lien on marketable securities for bank guarantees granted to secure hedging transactions	290
Foreign exchange risk lien on checking account for bank guarantees granted to secure hedging transactions	$ 250

MARKETABLE SECURITIES (Schedule

MARKETABLE SECURITIES (Schedule of Marketable Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 40,763	$ 61,197
Israeli mutual funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	987	957
Certificates of deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	17,206	33,350
Government and agency bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 22,570	$ 26,890

MARKETABLE SECURITIES (Schedu40

MARKETABLE SECURITIES (Schedule of Fair Value, Cost and Gross Unrealized Holding Gains of Securities Owned) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 40,763	$ 61,197
Cost or Amortized cost	40,833	61,261
Gross unrealized holding loss	106	81
Gross unrealized holding gains	36	17
Israeli mutual funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	987	957
Cost or Amortized cost	952	952
Gross unrealized holding loss
Gross unrealized holding gains	35	5
Certificates of deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	17,206	33,350
Cost or Amortized cost	17,243	33,408
Gross unrealized holding loss	38	68
Gross unrealized holding gains	1	10
Government and agency bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	22,570	26,890
Cost or Amortized cost	22,638	26,901
Gross unrealized holding loss	68	13
Gross unrealized holding gains		$ 2

MARKETABLE SECURITIES (Schedu41

MARKETABLE SECURITIES (Schedule of Maturity Dates of Debt Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 31,244	$ 42,708
1 to 2 years	8,380	14,513
2 to 3 years	152	3,019
Total	$ 39,776	$ 60,240

MARKETABLE SECURITIES (Narrativ

MARKETABLE SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Marketable Securities Narrative Details
Proceeds from sale and maturity of marketable securities	$ 43,079	$ 27,106
Marketable securities restricted	$ 433	$ 390

PROPERTY AND EQUIPMENT_ (Schedu

PROPERTY AND EQUIPMENT: (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Cost:	$ 2,852	$ 1,606
Less: Accumulated depreciation and amortization	810	668
Property and Equipment, net	2,042	938
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Cost:	902	229
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Cost:	299	187
Laboratory equipment [Member]
Property, Plant and Equipment [Line Items]
Cost:	1,257	896
Furniture [Member]
Property, Plant and Equipment [Line Items]
Cost:	288	96
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost:	$ 106	$ 198

PROPERTY AND EQUIPMENT_ (Narrat

PROPERTY AND EQUIPMENT: (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 221	$ 143	$ 87
Fixed assets disposed off	104	$ 16
Loss from sale of fixed assets	$ 30

EMPLOYEE SEVERANCE BENEFITS (De

EMPLOYEE SEVERANCE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Retirement Benefits [Abstract]
Severance payment expenses	$ 374	$ 244	$ 193
Expected deposit with respect to employee's severance benefits	739
Contribution by employers	$ 35

COMMITMENTS (Schedule of Operat

COMMITMENTS (Schedule of Operating lease expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rental expenses	$ 645	$ 358	$ 352
Vehicles lease expenses	$ 22

COMMITMENTS (Schedule of Future

COMMITMENTS (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease commitments under non-cancelable operating lease agreements, 2018	$ 865
Future minimum lease commitments under non-cancelable operating lease agreements, 2019	756
Future minimum lease commitments under non-cancelable operating lease agreements, 2020 and thereafter	701
Future minimum lease commitments under non-cancelable operating lease agreements, Total	2,322
Lien amount in respect of bank guarantees granted in order to secure the lease agreements	$ 143

LOANS_ (Details)

LOANS: (Details)	12 Months Ended
	Dec. 31, 2014
Finance Agreements with Bank [Member]
Debt Instrument [Line Items]
Interest rate spread on variable basis (as a percent)	0.50%

SHARE CAPITAL (Narrative - Shar

SHARE CAPITAL (Narrative - Share Capital) (Details) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	Oct. 28, 2016USD ($)shares	Sep. 30, 2016$ / sharesshares	Apr. 20, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares	Dec. 31, 2017USD ($)item$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Dec. 31, 2017₪ / sharesshares	Dec. 31, 2016₪ / sharesshares	Sep. 30, 2014₪ / shares
Class of Stock [Line Items]
Ordinary shares, par value | ₪ / shares								₪ 0.16	₪ 0.16
Proceeds from issuance from secondary offering | $						$ 54,132	$ 64,202
Voting right per share | item					1
Ordinary shares [Member]
Class of Stock [Line Items]
Number of shares issued					191,793	257,137
Ordinary shares [Member] | Secondary Offering [Member]
Class of Stock [Line Items]
Number of shares issued			7,419,353
Number of additional ordinary shares purchased by underwriters			967,741
Share price (in dollars per share) | $ / shares			$ 9.30
Proceeds from issuance from secondary offering | $			$ 64,202
Ordinary shares [Member] | Additional Offering [Member]
Class of Stock [Line Items]
Number of shares issued	411,959	5,700,000
Share price (in dollars per share) | $ / shares		$ 9.50
Proceeds from issuance from secondary offering | $	$ 54,132
Ordinary shares [Member] | IPO [Member]
Class of Stock [Line Items]
Number of shares issued				7,668,200
Ordinary shares, par value | ₪ / shares										₪ 0.16
Share price (in dollars per share) | $ / shares				$ 6
Proceeds from issuance from initial public offering | $				$ 41,100
Warrants [Member]
Class of Stock [Line Items]
Warrants outstanding					1,394,558	1,807,800		1,394,558	1,807,800
Exercise price (in dollars per share) | $ / shares					$ 5.04	$ 5.04
Number of each warrant exercised into common share					1			1
Warrants exercised					413,242	257,137

SHARE CAPITAL (Narrative - Sh50

SHARE CAPITAL (Narrative - Share-based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	May 31, 2015	Jun. 30, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 9,340
Recognition period	2 years
Compensation expense amount	$ 1,058
Retained awards amount	$ 2,037
New option plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	2,076,088
Number of shares authorized under the plan				2,690,694
New option plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan	2,900,000
Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant					1,635,694
Aggregate intrinsic value of the total exercisable options	$ 2,555
Aggregate intrinsic value of the total outstanding options	3,083
Share options [Member] | Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted	$ 8,510	$ 2,816	$ 6,592
Share options [Member] | Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted		$ 42	$ 686

SHARE CAPITAL (Schedule of Opti

SHARE CAPITAL (Schedule of Options Granted to Employees and Non-employees) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share options [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	1,162,558	715,310	852,501
Exercise price range, minimum	$ 5.22	$ 6.04	$ 6.77
Exercise price range, maximum	$ 10.31	$ 8.54	$ 10.88
Vesting period	4 years	4 years	4 years
Expiration period	10 years	10 years	10 years
Share options [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	189,709	24,000	27,000
Exercise price range, minimum	$ 4.69		$ 10.80
Exercise price range, maximum	$ 4.76	$ 7.09	$ 11.87
Vesting period	4 years	3 years	3 years
Expiration period	10 years	10 years	10 years
Share options [Member] | Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount		4,800	4,000
Exercise price range, maximum		$ 6.34	$ 10.88
Vesting period		4 years	4 years
Expiration period		10 years	10 years
RSUs [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	350,694	25,000	216,050
Exercise price range, maximum
Vesting period	4 years	4 years	4 years
RSUs [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	19,397
Vesting period	4 years
RSUs [Member] | Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount			83,800
Exercise price range, maximum
Vesting period			4 years

SHARE CAPITAL (Schedule of Unde

SHARE CAPITAL (Schedule of Underlying Data Used for Computing the Fair Value of the Options) (Details) - Share options [Member] - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	58.41%	60.30%	60.10%
Expected volatility, maximum	61.70%	63.20%	64.90%
Risk-free interest rate, minimum	1.97%	1.25%	1.38%
Risk-free interest rate, maximum	2.16%	1.86%	1.98%
Expected term	6 years	6 years	6 years
Consultants and other service providers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share		$ 11.1	$ 8.11
Dividend yield		0.00%	0.00%
Expected volatility		64.80%	69.40%
Risk-free interest rate		2.38%	2.27%
Expected term		9 years	10 years
Minimum [Member] | Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 4.44	$ 5.9	$ 6.96
Expected term	6 years	6 years	6 years
Maximum [Member] | Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 10.12	$ 8.35	$ 11.3
Expected term	6 years	6 years	6 years

SHARE CAPITAL (Summary of the N

SHARE CAPITAL (Summary of the Number of Options Outstanding Under the Plan) (Details) - Share options [Member] - $ / shares		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Employees and directors [Member]
Number of options
Outstanding at beginning of period		2,377,092		1,727,226	904,250
Granted		1,352,267		739,310	879,501
Forfeited		(39,213)		(20,000)
Exercised		(61,881)		(69,444)	(29,525)
Re-designated		(252,210)	[1]		(27,000)	[2]
Outstanding at end of period		3,376,055		2,377,092	1,727,226
Weighted average price per share
Outstanding at beginning of period	[3]	$ 5.87		$ 5.41	$ 3.28
Granted	[3]	7.47		6.55	7.72
Forfeited	[3]	7.93		6.66
Exercised	[3]	2.63		1.64	1.92
Re-designated	[3]	7.71	[1]		5.88	[2]
Outstanding at end of period	[3]	$ 6.41		$ 5.87	$ 5.41
Consultants and other service providers [Member]
Number of options
Outstanding at beginning of period		137,050		147,875	266,875
Granted				4,800	4,000
Forfeited		(8,800)		(15,625)
Exercised					(150,000)
Re-designated		25,210	[1]		27,000	[2]
Outstanding at end of period		380,460		137,050	147,875
Weighted average price per share
Outstanding at beginning of period	[3]	$ 2.81		$ 3.24	$ 2.10
Granted	[3]			6.34	10.88
Forfeited	[3]	8.40		7.98
Exercised	[3]				1.92
Re-designated	[3]	7.71	[1]		5.88	[2]
Outstanding at end of period	[3]	$ 5.93		$ 2.81	$ 3.24
[1]	Pursuant to change in status of grantees from 'employee' and 'Director' to 'consultant' during the reporting period.
[2]	Pursuant to change in status of grantee from 'director' to 'consultant' during the reporting period.
[3]	Weighted average price per share

SHARE CAPITAL (Summary of Numbe

SHARE CAPITAL (Summary of Number of RSUs Outstanding) (Details) - RSUs [Member] - shares		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period		142,683	186,800
Awarded		370,091	25,000
Forfeited		(4,025)
Vested		(43,038)	(69,117)
Re-designated	[1]	(78,120)
Outstanding at end of period		387,591	142,683
Consultants and other service providers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period		42,050	63,050
Awarded
Forfeited		(550)
Vested		(33,625)	(21,000)
Re-designated	[1]	78,120
Outstanding at end of period		85,995	42,050
[1]	Pursuant to change in status of grantees from 'employee' and 'Director' to 'consultant' during the reporting period.

SHARE CAPITAL (Summary of the55

SHARE CAPITAL (Summary of the Number of Options Outstanding and Options Exercisable Under the Plan) (Details) - Share options [Member]	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding at end of year	3,756,515
Number of options exercisable at end of year	1,584,280
0.048-1.312 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 0.048
Maximum Exercise price (in dollars per share) | $ / shares	$ 1.312
Number of options outstanding at end of year	268,125
Weighted average remaining contractual life	1 year 10 months 25 days
Number of options exercisable at end of year	268,125
Weighted average remaining contractual life	1 year 10 months 25 days
1.92 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise prices per share USD | $ / shares	$ 1.92
Number of options outstanding at end of year	258,587
Weighted average remaining contractual life	4 years 29 days
Number of options exercisable at end of year	252,650
Weighted average remaining contractual life	4 years 11 days
4.687-4.761 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 4.687
Maximum Exercise price (in dollars per share) | $ / shares	$ 4.761
Number of options outstanding at end of year	189,709
Weighted average remaining contractual life	9 years 6 months 10 days
Number of options exercisable at end of year
5.216-5.879 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 5.216
Maximum Exercise price (in dollars per share) | $ / shares	$ 5.879
Number of options outstanding at end of year	810,175
Weighted average remaining contractual life	8 years 9 months
Number of options exercisable at end of year	253,600
Weighted average remaining contractual life	6 years 11 months 23 days
6.04-6.77 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 6.04
Maximum Exercise price (in dollars per share) | $ / shares	$ 6.77
Number of options outstanding at end of year	766,010
Weighted average remaining contractual life	8 years 7 days
Number of options exercisable at end of year	364,154
Weighted average remaining contractual life	7 years 9 months 29 days
7.093-8.545 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 7.093
Maximum Exercise price (in dollars per share) | $ / shares	$ 8.545
Number of options outstanding at end of year	757,126
Weighted average remaining contractual life	7 years 9 months 25 days
Number of options exercisable at end of year	365,032
Weighted average remaining contractual life	7 years 7 months 28 days
10.217-11.868 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, minimum | $ / shares	$ 10.217
Maximum Exercise price (in dollars per share) | $ / shares	$ 11.868
Number of options outstanding at end of year	706,783
Weighted average remaining contractual life	8 years 10 months 6 days
Number of options exercisable at end of year	80,719
Weighted average remaining contractual life	7 years 7 months 2 days

SHARE CAPITAL (Schedule of Shar

SHARE CAPITAL (Schedule of Share-based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 4,166	$ 2,912	$ 1,777
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	2	3	2
Research and development expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	1,711	1,135	588
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 2,453	$ 1,774	$ 1,187

INCOME TAX_ (Narrative) (Detail

INCOME TAX: (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Jan. 31, 2018	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Capital gain tax rate (as a percent)			25.00%
Tax expense			$ 1,164	$ 387	$ 39
Net carry forward tax loss			88,600
Provision for uncertain tax positions			$ 988
Corporate tax rate (as a percent)			24.00%	25.00%	26.50%
Federal tax rate			35.00%	35.00%	30.00%
State tax rate			9.00%	9.00%	9.00%
Period for which issuance costs related to public offering is deductible for tax benefits			3 years
Subsequent Event [Member]
Income Tax [Line Items]
Corporate tax rate (as a percent)	23.00%
Minimum [Member]
Income Tax [Line Items]
Corporate tax rate (as a percent)		25.00%
Minimum [Member] | Subsequent Event [Member]
Income Tax [Line Items]
Corporate tax rate (as a percent)	35.00%
Maximum [Member]
Income Tax [Line Items]
Corporate tax rate (as a percent)		23.00%
Maximum [Member] | Subsequent Event [Member]
Income Tax [Line Items]
Corporate tax rate (as a percent)	21.00%

INCOME TAX_ (Schedule of Deferr

INCOME TAX: (Schedule of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
In respect of
Net operating loss carry forward	$ 20,385	$ 11,512
Research and development	9,856	4,147
Other	608	332
Less - valuation allowance	(30,849)	(15,991)	$ (10,214)	$ (6,241)
Net deferred tax assets

INCOME TAX_ (Schedule of Reconc

INCOME TAX: (Schedule of Reconciliation of the Theoretical Tax Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Loss before income taxes	$ 64,551	$ 28,949	$ 16,478
Theoretical tax benefit on the above amount	(15,492)	(7,237)	(4,367)
Decrease (increase) in tax refund resulting from:
Reduction and different corporate tax rates	711	1,965
Non-deductible expenses and other permanent differences, mainly share based compensation expenses and issuance costs	80	(491)	(585)
Uncertain tax position	988
Net change in valuation allowance	14,858	5,777	3,973
Other	19	373	1,018
Actual tax expense	$ 1,164	$ 387	$ 39

INCOME TAX_ (Schedule of Activi

INCOME TAX: (Schedule of Activity of the Company unrecognized tax benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Schedule Of Activity Of Company Unrecognized Tax Benefits Details
Balance at the beginning of the period
Increase in uncertain tax positions for the current year	988
Balance at the end of period	$ 988

INCOME TAX_ (Schedule of Rollfo

INCOME TAX: (Schedule of Rollforward of Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Balance at the beginning of the period	$ 15,991	$ 10,214	$ 6,241
Additions	14,858	5,777	3,973
Balance at the end of period	$ 30,849	$ 15,991	$ 10,214

SUPPLEMENTARY FINANCIAL STATE62

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: (Schedule of Supplementary Balance Sheets Information) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Supplementary Financial Statement Information: [Abstract]
Institutions	$ 91	$ 174
Prepaid expenses	588	246
Other	93	18
Account receivable - other	772	438
Accrued expenses	1,622	709
Payroll and related institutions	872	581
Bonus accrual	1,166	1,661
Other	70	33
Accounts payable and accruals - other	$ 3,730	$ 2,984

SUPPLEMENTARY FINANCIAL STATE63

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: (Schedule of Supplementary Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Revenues
Development Service Payments									$ 140	$ 63	$ 596
Contingent Payments										2,500
Royalties									3,529	2,964	253
Total revenues	$ 1,043	$ 901	$ 798	$ 927	$ 1,486	$ 2,544	$ 752	$ 745	3,669	5,527	849
Finance expenses:
Finance expenses on BIRD loan										243		[1]
Foreign exchange loss, net									57
Other expenses									14	17	23
Total finance expenses									71	260	23
Finance income:
Gains from securities, net									(602)	(401)	(180)
Interest on bank deposits									(532)	(536)	(289)
Foreign exchange gains, net										(24)	(6)
Total finance income									(1,134)	(961)	(475)
Finance expenses, net									$ (1,063)	$ (701)	$ (452)
[1]	Represents an amount less than $1.

ENTITY-WIDE DISCLOSURE_ (Schedu

ENTITY-WIDE DISCLOSURE: (Schedule of Net Revenues by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 1,043	$ 901	$ 798	$ 927	$ 1,486	$ 2,544	$ 752	$ 745	$ 3,669	$ 5,527	$ 849
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues									3,529	5,464	253
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues									140	14	587
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues										$ 49	$ 9

ENTITY-WIDE DISCLOSURE_ (Sche65

ENTITY-WIDE DISCLOSURE: (Schedule of Revenues From Principal Customers) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue, Major Customer [Line Items]
Revenues	$ 1,043	$ 901	$ 798	$ 927	$ 1,486	$ 2,544	$ 752	$ 745	$ 3,669	$ 5,527	$ 849
Revenue [Member] | Customers [Member] | Customer A [Member]
Revenue, Major Customer [Line Items]
Revenues											86
Revenue [Member] | Customers [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
Revenues										14	366
Revenue [Member] | Customers [Member] | Customer C [Member]
Revenue, Major Customer [Line Items]
Revenues									3,529	5,464	253
Revenue [Member] | Customers [Member] | Customer D [Member]
Revenue, Major Customer [Line Items]
Revenues											$ 135

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2017	Dec. 31, 2017
Dr. Tamarkin and Mr. Eini [Member]
Related Party Transaction [Line Items]
Cash severance payments	$ 1,800	$ 600

Supplemental Financial Inform67

Supplemental Financial Information (Unaudited selected quarterly financial results) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental Financial Information Unaudited Selected Quarterly Financial Results Details
Revenues	$ 1,043	$ 901	$ 798	$ 927	$ 1,486	$ 2,544	$ 752	$ 745	$ 3,669	$ 5,527	$ 849
Cost of revenues	2	11			8	8	12	31	13	59	70
Gross profit	1,041	890	798	927	1,478	2,536	740	714	3,656	5,468	779
Operating loss	$ 16,623	$ 17,828	$ 16,593	$ 14,570	$ 11,020	$ 5,946	$ 8,122	$ 4,562	$ (65,614)	$ (29,650)	$ (16,930)
Loss per share basic and diluted	$ 0.46	$ 0.47	$ 0.44	$ 0.39	$ 0.29	$ 0.19	$ 0.27	$ 0.15	$ 1.76	$ 0.91	$ 0.58