Foamix Pharmaceuticals (FOMX) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2018	Nov. 06, 2018
DOCUMENT AND ENTITY INFORMATION [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Entity Registrant Name	Foamix Pharmaceuticals Ltd.
Entity Central Index Key	1,606,645
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		54,283,368
Entity Small Business Flag	false
Entity Emerging Growth Company	true
Entity Transition Period	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 87,877	$ 15,956
Restricted cash	250	250
Short term bank deposits	6,099	19,443
Investment in marketable securities (Note 4)	15,041	31,797
Restricted investment in marketable securities (Note 4)	277	290
Accounts receivable:
Trade	889	996
Other	1,624	772
TOTAL CURRENT ASSETS	112,057	69,504
NON-CURRENT ASSETS:
Investment in marketable securities (Note 4)	793	8,533
Restricted investment in marketable securities (Note 4)	137	143
Property and equipment, net	2,157	2,042
Other	43	32
TOTAL NON-CURRENT ASSETS	3,130	10,750
TOTAL ASSETS	115,187	80,254
Accounts payable and accruals:
Trade	5,322	6,436
Deferred revenues		62
Other	3,714	3,730
TOTAL CURRENT LIABILITIES	9,036	10,228
LONG-TERM LIABILITIES:
Liability for employee severance benefits	379	437
Other liabilities	714	988
TOTAL LONG-TERM LIABILITIES	1,093	1,425
TOTAL LIABILITIES	10,129	11,653
COMMITMENTS (Note 6)
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.16 par value - authorized: 90,000,000 Ordinary Shares as of September 30, 2018 and December 31, 2017; issued and outstanding: 54,270,174 and 37,498,128 Ordinary Shares as of September 30, 2018 and December 31, 2017, respectively	2,327	1,576
Additional paid-in capital	304,119	208,364
Accumulated deficit	(201,331)	(141,281)
Accumulated other comprehensive loss	(57)	(58)
TOTAL SHAREHOLDERS' EQUITY	105,058	68,601
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 115,187	$ 80,254

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - ₪ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Ordinary shares, par value (in NIS per share)	₪ 0.16	₪ 0.16
Ordinary shares, shares authorized	90,000,000	90,000,000
Ordinary shares, shares issued	54,270,174	37,498,128
Ordinary shares, shares outstanding	54,270,174	37,498,128

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
REVENUES (Note 7)	$ 865	$ 901	$ 2,735	$ 2,626
COST OF REVENUES		11		11
GROSS PROFIT	865	890	2,735	2,615
OPERATING EXPENSES:
Research and development	13,142	15,785	52,809	42,400
Selling, general and administrative	3,309	2,933	10,019	9,206
TOTAL OPERATING EXPENSES	16,451	18,718	62,828	51,606
OPERATING LOSS	15,586	17,828	60,093	48,991
FINANCE INCOME, net	(119)	(302)	(471)	(846)
LOSS BEFORE INCOME TAX	15,467	17,526	59,622	48,145
INCOME TAX	13	57	463	209
NET LOSS FOR THE PERIOD	$ 15,480	$ 17,583	$ 60,085	$ 48,354
LOSS PER SHARE BASIC AND DILUTED	$ 0.38	$ 0.47	$ 1.50	$ 1.29
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE IN THOUSANDS	40,873	37,431	39,932	37,347

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
NET LOSS	$ 15,480	$ 17,583	$ 60,085	$ 48,354
OTHER COMPREHENSIVE LOSS (INCOME):
Net unrealized gains from marketable securities	(34)	(6)	(44)	(48)
Losses on marketable securities reclassified into net loss	(3)		(5)
Net unrealized losses (gains) on derivative financial instruments	(13)	(20)	68	(124)
Gains (losses) on derivative financial instruments reclassified into net loss	(20)	8	(55)	96
TOTAL OTHER COMPREHENSIVE INCOME	(70)	(18)	(36)	(76)
TOTAL COMPREHENSIVE LOSS	$ 15,410	$ 17,565	$ 60,049	$ 48,278

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 60,085	$ 48,354
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	243	153
Loss from sale and disposal of fixed assets	39	128
Changes in marketable securities and bank deposits, net	165	80
Changes in accrued liability for employee severance benefits, net of retirement fund profit	(57)	49
Share-based compensation	4,144	2,683
Non-cash finance expenses (income), net	20	(28)
Changes in operating asset and liabilities:
Decrease (increase) in trade and other receivables	(756)	2,145
Increase in other non-current assets	(12)	(22)
Increase (decrease) in accounts payable and accruals	(1,467)	2,622
Net cash used in operating activities	(57,766)	(40,544)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(408)	(1,159)
Proceeds from sale of fixed assets	10	26
Investment in bank deposits	(27,500)	(8,000)
Investment in marketable securities	(1,012)	(18,191)
Proceeds from sale and maturity of marketable securities and bank deposits	66,255	57,314
Net cash provided by investing activities	37,345	29,990
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options	43	145
Proceeds from exercise of warrants	840
Proceeds from issuance of shares, net of $39 issuance costs	16,131
Proceeds from issuance of Ordinary Shares through public offerings, net of $5,175 issuance costs	75,348
Payments in respect of bank borrowings		(21)
Net cash provided by financing activities	92,362	124
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	71,941	(10,430)
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(20)	29
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE PERIOD	16,206	31,440
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE PERIOD	88,127	21,039
Cash and cash equivalents	87,877	20,789
Restricted cash	250	250
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH SHOWN IN STATEMENT OF CASH FLOWS	88,127	21,039
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Cashless exercise of warrants and RSUs	7	10
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for taxes	469	407
Interest received	784	927
Interest paid			[1]
[1]	Represents an amount less than $1.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Issuance costs	$ 39
Public offerings [Member]
Issuance costs	$ 5,175

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION:	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION:	NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION: a. Nature of operations Foamix Pharmaceuticals Ltd. (hereinafter “Foamix”) is an Israeli company incorporated in 2003. 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 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. Since incorporation through September 30, 2018, Foamix and its subsidiary Foamix Pharmaceuticals Inc. (hereinafter “the Company”) incurred losses and negative cash flows from operations mainly attributable to its development efforts and has an accumulated deficit of $201,331. The Company has financed its operations mainly through the issuance of shares through private and public financing rounds, convertible loans and payments received under its research and development and licensing agreements. Management believes the Company's cash and investments 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. b. Basis of presentation The unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial statements. Accordingly, they do not contain all information and notes required by U.S. GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include only normal recurring adjustments, which are necessary for a fair statement of the Company’s consolidated financial position as of September 30, 2018, the consolidated results of operations and comprehensive loss for the three and nine-month periods ended September 30, 2018 and 2017 and cash flows for the nine-month periods ended September 30, 2018 and 2017. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual financial statements for the year ended December 31, 2017. The condensed consolidated balance sheet data as of September 30, 2018 was derived from the audited consolidated financial statements for the year ended December 31, 2017, included in the Company’s annual report on Form 10-K/A filed with the Securities and Exchange Commission on March 1, 2018, but does not include all disclosures required by U.S. GAAP for annual financial statements. The results for the three and nine-month periods ended September 30, 2018 are not necessarily indicative of the results expected for the year ending December 31, 2018 .

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES:	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES:	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: a. Principles of consolidation The consolidated financial statements include the accounts of Foamix and its subsidiary. Intercompany balances and transactions including profits from intercompany sales not yet realized outside the Company, have been eliminated upon consolidation. b. 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. c. 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 Ordinary Shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of Ordinary Shares and of ordinary share equivalents outstanding when dilutive. Ordinary Share equivalents include outstanding share options and warrants which are included under the treasury share method when dilutive. The following options, restricted share units (“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 periods presented (share data): Nine and three months ended September 30 2018 2017 Outstanding options and RSUs 4,690,034 3,875,714 Warrants - 1,394,558 d. Newly issued and recently adopted accounting pronouncements Accounting pronouncements adopted in period: 1) In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes 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 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 . The Company adopted the guidance as of January 2) 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. 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. This standard was adopted on January 1, 2018 and its accumulative adjustment had no material impact on the Company's consolidated financial statements. In addition, in February 2018, the FASB issued ASU No. 2018-03 which includes technical corrections and improvements to clarify the guidance in ASU No. 2016-01. This standard, adopted as of January 1, 2018, had no material impact on the Company’s consolidated financial statements. 3) 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 applied prospectively to an award modified on or after the adoption date. This standard, adopted as of January 1, 2018, had no material impact on the Company’s consolidated financial statements. 4) In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740), to insert the Securities and Exchange Commission's interpretive guidance from Staff Accounting Bulletin No. 118 into the income tax accounting codification under U.S. GAAP. The ASU permits companies to use provisional amounts for certain income tax effects of the Tax Act during a one-year measurement period. The provisional Accounting pronouncements that are not yet effective and have not been early adopted by the Company: 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. Subsequently, the FASB issued ASU No. 2017-13 in September 2017, ASU No. 2018-01 in January 2018 and ASU No. 2018-10 and ASU No. 2018-11 in July 2018, which amends and clarifies ASU 2016-02. 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 reviewing its lease contracts and began analyzing the standard and identify potential differences and changes which would result from applying the requirements of the new standard. The Company currently anticipates 6) In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718) Improvements to Nonemployee Share-based Payments. This ASU was issued to simplify the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions will be measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. 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.

FAIR VALUE PRESENTATION

FAIR VALUE PRESENTATION	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE PRESENTATION	NOTE 3 - FAIR VALUE PRESENTATION: The Company’s assets and liabilities that are measured at fair value as of September 30, 2018 and December 31, 2017 are classified in the tables below in one of the three categories described in Note 2b: September 30, 2018 Level 1 Level 2 Total Marketable securities $ 982 $ 15,266 $ 16,248 Currency options designated as hedging instruments (current liabilities) - $ (2 ) $ (2 ) December 31, 2017 Level 1 Level 2 Total Marketable securities $ 987 $ 39,776 $ 40,763 Currency options designated as hedging instruments (current assets) - $ 11 $ 11 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 Shekels (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 September 30, 2018, the total hedged amount was NIS 5.6 million. The derivative liability, in the amount of $2 as of September 30, 2018, qualifies as hedge accounting. As of September 30, 2018, the Company has a lien in the amount of $277 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	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 4 - MARKETABLE SECURITIES Marketable securities as of September 30, 2018, and December 31, 2017 consist mainly of debt and equity securities. The debt 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. As of January 1, 2018, following the adoption of ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10), equity securities with readily determinable fair value are measured at fair value. The changes in the fair value of equity investments are recognized through net income. Adoption of the standard was applied through a cumulative one-time adjustment to the accumulated deficit. T September 30, December 31, 2018 2017 Israeli mutual funds $ 982 $ 987 Certificates of deposit 4,500 17,206 Government and agency bonds 10,766 22,570 Total $ 16,248 $ 40,763 As of September 30, 2018 and December 31, 2017, the fair value, cost and gross unrealized holding gains and losses of the debt securities owned by the Company were as follows: September 30, 2018 Fair Cost or amortized cost Gross unrealized Gross unrealized Certificates of deposit $ 4,500 $ 4,522 $ 22 $ - Government and agency bonds 10,766 10,799 33 - Total $ 15,266 $ 15,321 $ 55 $ - December 31, 2017 Fair Cost or amortized cost Gross unrealized Gross unrealized Certificates of deposit $ 17,206 $ 17,243 $ 38 $ 1 Government and agency bonds 22,570 22,638 68 - Total $ 39,776 $ 39,881 $ 106 $ 1 As of September 30, 2018, the unrealized losses attributed to the Company’s debt 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 September 30, 2018 and December 31, 2017. As of September 30, 2018, and December 31, 2017 the Company’s debt securities had the following maturity dates: Market value September 30, 2018 December 31, 2017 Due within one year $ 14,473 $ 31,244 1 to 2 years 793 8,380 2 to 3 years - 152 Total $ 15,266 $ 39,776 During the nine months ended September 30, 2018 and September 30, 2017, the Company received proceeds of $25,548 and $32,314, respectively, upon sale and maturity of marketable securities. $414 and $433 of the Company’s marketable securities were restricted as of September 30, 2018 and December 31, 2017, respectively, due to a lien in respect of bank guarantees granted to secure hedging transaction and the Company’s rent agreement. For more information, refer to Notes 3 and 6.

SHARE CAPITAL_

SHARE CAPITAL:	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
SHARE CAPITAL	NOTE 5 - SHARE CAPITAL: a. Securities Purchase Agreement On April 13, 2018, the Company entered into a Securities Purchase Agreement with an existing shareholder pursuant to which the Company agreed to issue and sell, in a registered offering, an aggregate of 2,940,000 Ordinary Shares at a purchase price of $5.50 per share. The net proceeds from the offering were $16,131 after deducting transaction expenses. The closing of the issuance and sale of these shares took place on April 16, 2018. b. Follow-on Offering On September 18, 2018, the Company completed a follow-on offering in which 13,420,500 Ordinary Shares were sold at a price of $6.00 per share, which included the full exercise by the underwriters of their option to purchase additional Ordinary Shares. The net proceeds, including the underwriters' option, were approximately $75,348, after deducting the underwriting discounts and commissions and other offering expenses. c. Warrants During the nine months ended September 30, 2018, 1,394,558 warrants were exercised for 178,468 Ordinary Shares. As of September 30, 2018, there are no warrants outstanding. As of September 30, 2017, the total amount of warrants outstanding was 1,394,558. d. Share-based compensation In May 2015, the Company’s Board of Directors approved a new option plan (the “Plan”) replacing the previous plan approved in 2009. The Plan included 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, the Board of Directors approved an accumulated increase of 2,900,000 Ordinary Shares to the Plan. As of September 30, 2018, In the nine months ended September 30, 2018 and 2017, the Company granted options and RSUs to employees and directors as follows: Nine months ended September 30, 2018 Award amount Exercise price range Vesting period Expiration Employees: Options 571,530 $5.06-$6.40 4 years 10 years RSUs 126,844 4 years - Directors: Options 174,373 $5.02-$5.06 1 years 10 years RSUs 14,829 3 years - Nine months ended September 30, 2017 Award amount Exercise price range Vesting period Expiration Employees: Options 804,838 $5.22-$10.31 4 years 10 years RSUs 268,764 - 4 years - Directors: Options 189,709 $4.69-$4.76 4 years 10 years RSUs 19,397 - 4 years - The fair value of options and RSUs granted to employees and directors during the nine months ended September 30, 2018 and September 30, 2017 was $3,287 and $6,860, 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: Nine months ended September 30 2018 2017 Value of ordinary share $5.12-$5.99 $4.44-$10.12 Dividend yield 0% 0% Expected volatility 62.1%-62.6% 58.4%-59.7% Risk-free interest rate 2.75%-2.84% 1.97%-2.09% Expected term 6 years 6 years On January 1, 2018, the Company and Dr. Dov Tamarkin agreed to terminate the consulting agreement signed in June 2017. Pursuant to the termination, the Board of Directors resolved that all options and RSUs previously granted to Dr. Tamarkin shall continue to vest and may be exercised until their expiration date. The retention of the options and RSUs was considered a Type III modification for share-based compensation, and, as a result, on January 1, 2018, the Company re-measured the fair value of all outstanding options and RSUs granted to Dr. Tamarkin and recognized the residual amount of the fair value as an immediate expense. The compensation expenses recorded on January 1, 2018 were $239. In addition, following changes in circumstances, including Mr. Meir Eini’s resignation from his position as an observer to the Board of Directors, the Company reassessed the services provided by Mr. Meir Eini and concluded they are not substantive in comparison to the value of the equity awards he received. Therefore, in January 2018, all expenses related to the awards previously granted to Mr. Eini were measured and the unrecognized amount of the fair value was fully recognized. The compensation expenses recorded in January 2018 were $494. The following table illustrates the effect of share-based compensation on the statements of operations: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Cost of revenues $ - $ 2 $ - $ 2 Research and development expenses 1,679 1,097 376 522 Selling, general and administrative 2,465 1,584 814 672 $ 4,144 $ 2,683 $ 1,190 $ 1,196

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 6 – COMMITMENTS: Lease agreement The Company leases office space for its headquarters and research and development facilities in Israel and the United States under several lease agreements. The office 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. The Company has an option to extend the lease agreement in the United States for additional 3 years on similar conditions. In July 2017, the Company has entered into operating lease agreements 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 three and nine months ended September 30, 2018 and September 30, 2017, are as follows: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Rental expenses $ 581 $ 461 $ 191 $ 184 Vehicle lease expenses $ 91 $ 7 $ 41 $ 7 Future minimum lease commitments under non-cancelable operating lease agreements are as follows: 2018 $ 213 2019 750 2020 and thereafter 732 Total $ 1,695 The Company has a lien in the amount of $137 on the Company’s marketable securities in respect of bank guarantees granted in order to secure the lease agreements.

ENTITY-WIDE DISCLOSURES_

ENTITY-WIDE DISCLOSURES:	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
ENTITY-WIDE DISCLOSURE:	NOTE 7 - ENTITY-WIDE DISCLOSURES: a. Net revenues by geographic area were as follows: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 United States $ 62 $ 86 $ - $ 86 Germany 2,468 2,540 660 815 Denmark 205 - 205 - $ 2,735 $ 2,626 $ 865 $ 901 b. Customers exceeding 10% of revenues: During the three and nine months ended September 30, 2018 and September 30, 2017 the Company had one customer exceeding over 10% of total revenues. Revenues from the customer were $2,468 and $2,540 during the nine months ended September 30, 2018 and September 30, 2017, respectively. Revenues from the customer were $660 and $815 during the three months ended September 30, 2018 and September 30, 2017, respectively. c. Net revenues by type of payment: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Development service payments $ 62 $ 86 $ - $ 86 Royalties 2,673 2,540 865 815 Total revenues $ 2,735 $ 2,626 $ 865 $ 901

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES: (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Principles of consolidation	a. Principles of consolidation The consolidated financial statements include the accounts of Foamix and its subsidiary. Intercompany balances and transactions including profits from intercompany sales not yet realized outside the Company, have been eliminated upon consolidation.
Fair value measurement	b. 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.
Loss per share	c. 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 Ordinary Shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of Ordinary Shares and of ordinary share equivalents outstanding when dilutive. Ordinary Share equivalents include outstanding share options and warrants which are included under the treasury share method when dilutive. The following options, restricted share units (“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 periods presented (share data): Nine and three months ended September 30 2018 2017 Outstanding options and RSUs 4,690,034 3,875,714 Warrants - 1,394,558
Newly issued and recently adopted accounting pronouncements:	d. Newly issued and recently adopted accounting pronouncements Accounting pronouncements adopted in period: 1) In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes 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 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 . The Company adopted the guidance as of January 2) 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. 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. This standard was adopted on January 1, 2018 and its accumulative adjustment had no material impact on the Company's consolidated financial statements. In addition, in February 2018, the FASB issued ASU No. 2018-03 which includes technical corrections and improvements to clarify the guidance in ASU No. 2016-01. This standard, adopted as of January 1, 2018, had no material impact on the Company’s consolidated financial statements. 3) 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 applied prospectively to an award modified on or after the adoption date. This standard, adopted as of January 1, 2018, had no material impact on the Company’s consolidated financial statements. 4) In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740), to insert the Securities and Exchange Commission's interpretive guidance from Staff Accounting Bulletin No. 118 into the income tax accounting codification under U.S. GAAP. The ASU permits companies to use provisional amounts for certain income tax effects of the Tax Act during a one-year measurement period. The provisional Accounting pronouncements that are not yet effective and have not been early adopted by the Company: 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. Subsequently, the FASB issued ASU No. 2017-13 in September 2017, ASU No. 2018-01 in January 2018 and ASU No. 2018-10 and ASU No. 2018-11 in July 2018, which amends and clarifies ASU 2016-02. 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 reviewing its lease contracts and began analyzing the standard and identify potential differences and changes which would result from applying the requirements of the new standard. The Company currently anticipates 6) In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718) Improvements to Nonemployee Share-based Payments. This ASU was issued to simplify the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions will be measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. 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.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES: (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Schedule of anti-dilutive securities	The following options, restricted share units (“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 periods presented (share data): Nine and three months ended September 30 2018 2017 Outstanding options and RSUs 4,690,034 3,875,714 Warrants - 1,394,558

FAIR VALUE PRESENTATION (Tables

FAIR VALUE PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2018
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 September 30, 2018 and December 31, 2017 are classified in the tables below in one of the three categories described in Note 2b: September 30, 2018 Level 1 Level 2 Total Marketable securities $ 982 $ 15,266 $ 16,248 Currency options designated as hedging instruments (current liabilities) - $ (2 ) $ (2 ) December 31, 2017 Level 1 Level 2 Total Marketable securities $ 987 $ 39,776 $ 40,763 Currency options designated as hedging instruments (current assets) - $ 11 $ 11

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	T September 30, December 31, 2018 2017 Israeli mutual funds $ 982 $ 987 Certificates of deposit 4,500 17,206 Government and agency bonds 10,766 22,570 Total $ 16,248 $ 40,763
Schedule of the fair value, cost and gross unrealized holding gains of the securities owned	As of September 30, 2018, and December 31, 2017 the fair value, cost and gross unrealized holding gains and losses of the debt securities owned by the Company were as follows: September 30, 2018 Fair Cost or amortized cost Gross unrealized Gross unrealized Certificates of deposit $ 4,500 $ 4,522 $ 22 $ - Government and agency bonds 10,766 10,799 33 - Total $ 15,266 $ 15,321 $ 55 $ - December 31, 2017 Fair Cost or amortized cost Gross unrealized Gross unrealized Certificates of deposit $ 17,206 $ 17,243 $ 38 $ 1 Government and agency bonds 22,570 22,638 68 - Total $ 39,776 $ 39,881 $ 106 $ 1
Schedule of maturity dates of debt securities	As of September 30, 2018, and December 31, 2017 the Company’s debt securities had the following maturity dates: Market value September 30, 2018 December 31, 2017 Due within one year $ 14,473 $ 31,244 1 to 2 years 793 8,380 2 to 3 years - 152 Total $ 15,266 $ 39,776

SHARE CAPITAL_ (Tables)

SHARE CAPITAL: (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of options and RSUs granted to employees, directors and non-employees	In the nine months ended September 30, 2018 and 2017, the Company granted options and RSUs to employees and directors as follows: Nine months ended September 30, 2018 Award amount Exercise price range Vesting period Expiration Employees: Options 571,530 $5.06-$6.40 4 years 10 years RSUs 126,844 4 years - Directors: Options 174,373 $5.02-$5.06 1 years 10 years RSUs 14,829 3 years - Nine months ended September 30, 2017 Award amount Exercise price range Vesting period Expiration Employees: Options 804,838 $5.22-$10.31 4 years 10 years RSUs 268,764 - 4 years - Directors: Options 189,709 $4.69-$4.76 4 years 10 years RSUs 19,397 - 4 years -
Schedule of underlying data used for computing the fair value of the options	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: Nine months ended September 30 2018 2017 Value of ordinary share $5.12-$5.99 $4.44-$10.12 Dividend yield 0% 0% Expected volatility 62.1%-62.6% 58.4%-59.7% Risk-free interest rate 2.75%-2.84% 1.97%-2.09% Expected term 6 years 6 years
Schedule of share-based compensation	The following table illustrates the effect of share-based compensation on the statements of operations: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Cost of revenues $ - $ 2 $ - $ 2 Research and development expenses 1,679 1,097 376 522 Selling, general and administrative 2,465 1,584 814 672 $ 4,144 $ 2,683 $ 1,190 $ 1,196

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating lease expense	Operating lease expenses for the three and nine months ended September 30, 2018 and September 30, 2017, are as follows: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Rental expenses $ 581 $ 461 $ 191 $ 184 Vehicle lease expenses $ 91 $ 7 $ 41 $ 7
Schedule of Future Minimum Lease Commitments	Future minimum lease commitments under non-cancelable operating lease agreements are as follows: 2018 $ 213 2019 750 2020 and thereafter 732 Total $ 1,695

ENTITY-WIDE DISCLOSURES_ (Table

ENTITY-WIDE DISCLOSURES: (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of net revenues by geographic area	Net revenues by geographic area were as follows: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 United States $ 62 $ 86 $ - $ 86 Germany 2,468 2,540 660 815 Denmark 205 - 205 - $ 2,735 $ 2,626 $ 865 $ 901
Schedule of Net Revenues by Payment Type	Net revenues by type of payment: Nine months ended September 30 Three months ended September 30 2018 2017 2018 2017 Development service payments $ 62 $ 86 $ - $ 86 Royalties 2,673 2,540 865 815 Total revenues $ 2,735 $ 2,626 $ 865 $ 901

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION: (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 141,281	$ 201,331
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 POLICI_4

SIGNIFICANT ACCOUNTING POLICIES: (Schedule of Anti-Dilutive Securities) (Details) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
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	4,690,034	3,875,714
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

FAIR VALUE PRESENTATION (Schedu

FAIR VALUE PRESENTATION (Schedule of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 16,248	$ 40,763
Currency options designated as hedging instruments (current liabilities)	(2)
Currency options designated as hedging instruments (current assets)		11
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	982	987
Currency options designated as hedging instruments (current liabilities)
Currency options designated as hedging instruments (current assets)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	15,266	39,776
Currency options designated as hedging instruments (current liabilities)	$ (2)
Currency options designated as hedging instruments (current assets)		$ 11

FAIR VALUE PRESENTATION (Narrat

FAIR VALUE PRESENTATION (Narrative) (Details) - 9 months ended Sep. 30, 2018 ₪ in Thousands, $ in Thousands	USD ($)	ILS (₪)
FAIR VALUE MEASURMENTS [Abstract]
Currency hedging transactions, maximum term	1 year
Total hedged amount | ₪		₪ 5,600
Derivative liability	$ 2
Foreign exchange risk lien on marketable securities for bank guarantees granted to secure hedging transactions	277
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	Sep. 30, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 15,266	$ 39,776
Israeli mutual funds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	982	987
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	4,500	17,206
Government and agency bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 10,766	$ 22,570

MARKETABLE SECURITIES (Schedu_2

MARKETABLE SECURITIES (Schedule of Fair Value, Cost and Gross Unrealized Holding Gains of Securities Owned) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 15,266	$ 39,776
Cost or amortized cost	15,321	39,881
Gross unrealized holding losses	55	106
Gross unrealized holding gains		1
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	4,500	17,206
Cost or amortized cost	4,522	17,243
Gross unrealized holding losses	22	38
Gross unrealized holding gains		1
Government and agency bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	10,766	22,570
Cost or amortized cost	10,799	22,638
Gross unrealized holding losses	33	68
Gross unrealized holding gains

MARKETABLE SECURITIES (Schedu_3

MARKETABLE SECURITIES (Schedule of Maturity Dates of Debt Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 14,473	$ 31,244
1 to 2 years	793	8,380
2 to 3 years		152
Total	$ 15,266	$ 39,776

MARKETABLE SECURITIES (Narrativ

MARKETABLE SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Marketable Securities Narrative
Proceeds from sale and maturity of marketable securities	$ 25,548	$ 32,314
Marketable securities restricted	$ 414		$ 433

SHARE CAPITAL_ (Narrative) (Det

SHARE CAPITAL: (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 13, 2018	Jan. 02, 2018	Sep. 18, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	May 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net procceds from offering				$ 75,348
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants exercised				1,394,558
Warrants outstanding					1,394,558
Employees and directors [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted				$ 3,287	$ 6,860
Dr. Tamarkin [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense amount		$ 239
Mr. Meir Eini's [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense amount		$ 494
New option plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant				1,383,078
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
Ordinary shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued			13,420,500	178,468
Ordinary shares issued	2,940,000
Ordinary price per share	$ 5.50
Net procceds from offering	$ 16,131		$ 75,348
Sale of stock price, per share			$ 6

SHARE CAPITAL_ (Schedule of Opt

SHARE CAPITAL: (Schedule of Options and RSUs Granted to Employees and Non-employees) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share options [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	571,530	804,838
Exercise price range, minimum	$ 5.06	$ 5.22
Exercise price range, maximum	$ 6.40	$ 10.31
Vesting period	4 years	4 years
Expiration period	10 years	10 years
Share options [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	174,373	189,709
Exercise price range, minimum	$ 5.02	$ 4.69
Exercise price range, maximum	$ 5.06	$ 4.76
Vesting period	1 year	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	126,844	268,764
Exercise price range, minimum
Exercise price range, maximum
Vesting period	4 years	4 years
RSUs [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	14,829	19,397
Exercise price range, minimum
Exercise price range, maximum
Vesting period	3 years	4 years

SHARE CAPITAL_ (Schedule of Und

SHARE CAPITAL: (Schedule of Underlying Data Used for Computing the Fair Value of the Options) (Details) - Share options [Member] - Employees and directors [Member] - $ / shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility, minimum	62.10%	58.40%
Expected volatility, maximum	62.60%	59.70%
Risk-free interest rate, minimum	2.75%	1.97%
Risk-free interest rate, maximum	2.84%	2.09%
Expected term	6 years	6 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 5.12	$ 4.44
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 5.99	$ 10.12

SHARE CAPITAL_ (Schedule of Sha

SHARE CAPITAL: (Schedule of Share-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 1,190	$ 1,196	$ 4,144	$ 2,683
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation		2		2
Research and development expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	376	522	1,679	1,097
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 814	$ 672	$ 2,465	$ 1,584

COMMITMENTS (Schedule of Operat

COMMITMENTS (Schedule of Operating lease expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Rental expenses	$ 191	$ 184	$ 581	$ 461
Vehicle lease expenses	$ 41	$ 7	$ 91	$ 7

COMMITMENTS (Schedule of Future

COMMITMENTS (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Sep. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease commitments under non-cancelable operating lease agreements, 2018	$ 213
Future minimum lease commitments under non-cancelable operating lease agreements, 2019	750
Future minimum lease commitments under non-cancelable operating lease agreements, 2020 and thereafter	732
Future minimum lease commitments under non-cancelable operating lease agreements, Total	1,695
Lien amount in respect of bank guarantees granted in order to secure the lease agreements	$ 137

ENTITY-WIDE DISCLOSURES_ (Sched

ENTITY-WIDE DISCLOSURES: (Schedule of Net Revenues by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 865	$ 901	$ 2,735	$ 2,626
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		86	62	86
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	660	815	2,468	2,540
Denmark [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 205		$ 205

ENTITY-WIDE DISCLOSURES_ (Sch_2

ENTITY-WIDE DISCLOSURES: (Schedule of Net Revenues by Payment Type) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue, Major Customer [Line Items]
Total revenues	$ 865	$ 901	$ 2,735	$ 2,626
Revenue [Member] | Development Service Payments [Member]
Revenue, Major Customer [Line Items]
Total revenues		86	62	86
Revenue [Member] | Royalties [Member]
Revenue, Major Customer [Line Items]
Total revenues	$ 865	$ 815	$ 2,673	$ 2,540