Foamix Pharmaceuticals (FOMX) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
DOCUMENT AND ENTITY INFORMATION [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Entity Registrant Name	Foamix Pharmaceuticals Ltd.
Entity Central Index Key	0001606645
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Filer Category	Accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Transition Period	true
Entity Common Stock, Shares Outstanding		61,003,927
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 39,085	$ 27,868
Restricted cash	250	250
Short term bank deposits	16,187	24,047
Investment in marketable securities (Note 4)	14,091	46,669
Restricted investment in marketable securities (Note 4)	282	268
Accounts receivable:
Trade	308	1,066
Other	1,511	999
TOTAL CURRENT ASSETS	71,714	101,167
NON-CURRENT ASSETS:
Investment in marketable securities (Note 4)		150
Restricted investment in marketable securities (Note 4)	139	133
Property and equipment, net	2,497	2,235
Operating lease right of use assets (Note 6)	1,858
Other	18	46
TOTAL NON-CURRENT ASSETS	4,512	2,564
TOTAL ASSETS	76,226	103,731
Accounts payable and accruals:
Trade	9,434	6,327
Operating lease liabilities (Note 6)	999
Other	3,664	4,141
TOTAL CURRENT LIABILITIES	14,097	10,468
LONG-TERM LIABILITIES:
Liability for employee severance benefits	409	367
Operating lease liabilities (Note 6)	882
Other liabilities	456	714
TOTAL LONG-TERM LIABILITIES	1,747	1,081
TOTAL LIABILITIES	15,844	11,549
COMMITMENTS (Note 6)
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.16 par value - authorized: 135,000,000 and 90,000,000 Ordinary Shares as of June 30, 2019 and December 31, 2018, respectively; issued and outstanding: 54,455,969 and 54,351,140 Ordinary Shares as of June 30, 2019 and December 31, 2018, respectively	2,336	2,331
Additional paid-in capital	307,653	305,303
Accumulated deficit	(249,606)	(215,409)
Accumulated other comprehensive loss	(1)	(43)
TOTAL SHAREHOLDERS' EQUITY	60,382	92,182
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 76,226	$ 103,731

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - ₪ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Ordinary shares, par value (in NIS per share)	₪ 0.16	₪ 0.16
Ordinary shares, shares authorized	135,000,000	90,000,000
Ordinary shares, shares issued	54,455,969	54,351,140
Ordinary shares, shares outstanding	54,455,969	54,351,140

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
REVENUES (Note 7)		$ 964	$ 308	$ 1,870
OPERATING EXPENSES:
Research and development	12,556	16,842	23,404	39,667
Selling, general and administrative	6,803	2,909	12,147	6,710
TOTAL OPERATING EXPENSES	19,359	19,751	35,551	46,377
OPERATING LOSS	19,359	18,787	35,243	44,507
FINANCE INCOME, net	(366)	(279)	(870)	(352)
LOSS BEFORE INCOME TAX	18,993	18,508	34,373	44,155
INCOME TAX		120	(176)	450
NET LOSS FOR THE PERIOD	$ 18,993	$ 18,628	$ 34,197	$ 44,605
LOSS PER SHARE BASIC AND DILUTED	$ 0.35	$ 0.46	$ 0.63	$ 1.15
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE IN THOUSANDS	54,426	40,102	54,401	38,821

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
NET LOSS	$ 18,993	$ 18,628	$ 34,197	$ 44,605
OTHER COMPREHENSIVE LOSS (INCOME):
Net unrealized gains from marketable securities	(4)	(25)	(40)	(10)
Losses on marketable securities reclassified into net loss		(1)		(2)
Net unrealized losses (gains) on derivative financial instruments	13	67	(2)	81
losses on derivative financial instruments reclassified into net loss		(41)		(35)
TOTAL OTHER COMPREHENSIVE LOSS (INCOME)	9		(42)	34
TOTAL COMPREHENSIVE LOSS	$ 19,002	$ 18,628	$ 34,155	$ 44,639

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Ordinary shares [Member]	Additional Paid-in Capital [Member]	Accumulated deficit [Member]	Accumulated other comprehensive Income (loss) [Member]	Total
Balance at Dec. 31, 2017	$ 1,576	$ 208,364	$ (141,281)	$ (58)	$ 68,601
Balance (shares) at Dec. 31, 2017	37,498,128
Impact of initial adoption of new accounting standards, as previously reported			35	(35)
CHANGES DURING THE PERIOD:
Comprehensive loss			(44,605)	(34)	(44,639)
Issuance of shares less offering expenses in the amount of $39K	$ 134	15,997			16,131
Issuance of shares less offering expenses in the amount of $39K (shares)	2,940,000
Exercise of warrants into Ordinary Shares	$ 8	832			840
Exercise of warrants into Ordinary Shares (shares)	178,468
Exercise of options and restricted share units	$ 3	7			10
Exercise of options and restricted share units (shares)	76,883
Share-based compensation (Note 5)		2,954			2,954
Balance at Jun. 30, 2018	$ 1,721	228,154	(185,851)	(127)	43,897
Balance (shares) at Jun. 30, 2018	40,693,479
Balance at Mar. 31, 2018	$ 1,578	210,116	(167,223)	(127)	44,344
Balance (shares) at Mar. 31, 2018	37,551,511
CHANGES DURING THE PERIOD:
Comprehensive loss			(18,628)		(18,628)
Issuance of shares less offering expenses in the amount of $39K	$ 134	15,997			16,131
Issuance of shares less offering expenses in the amount of $39K (shares)	2,940,000
Exercise of warrants into Ordinary Shares	$ 8	832			840
Exercise of warrants into Ordinary Shares (shares)	178,468
Exercise of options and restricted share units	$ 1	9			10
Exercise of options and restricted share units (shares)	23,500
Share-based compensation (Note 5)		1,200			1,200
Balance at Jun. 30, 2018	$ 1,721	228,154	(185,851)	(127)	43,897
Balance (shares) at Jun. 30, 2018	40,693,479
Balance at Dec. 31, 2018	$ 2,331	305,303	(215,409)	(43)	$ 92,182
Balance (shares) at Dec. 31, 2018	54,351,140				54,351,140
CHANGES DURING THE PERIOD:
Comprehensive loss			(34,197)	42	$ (34,155)
Exercise of options and restricted share units	$ 5	13			18
Exercise of options and restricted share units (shares)	104,829
Share-based compensation (Note 5)		2,337			2,337
Balance at Jun. 30, 2019	$ 2,336	307,653	(249,606)	(1)	$ 60,382
Balance (shares) at Jun. 30, 2019	54,455,969				54,455,969
Balance at Mar. 31, 2019	$ 2,334	306,266	(230,613)	8	$ 77,995
Balance (shares) at Mar. 31, 2019	54,419,323
CHANGES DURING THE PERIOD:
Comprehensive loss			(18,993)	(9)	(19,002)
Exercise of options and restricted share units	$ 2				2
Exercise of options and restricted share units (shares)	36,646
Share-based compensation (Note 5)		1,387			1,387
Balance at Jun. 30, 2019	$ 2,336	$ 307,653	$ (249,606)	$ (1)	$ 60,382
Balance (shares) at Jun. 30, 2019	54,455,969				54,455,969

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 39	$ 39

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 34,197	$ 44,605
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	163	166
Loss from disposal and sale of fixed assets	29	37
Changes in marketable securities and bank deposits, net	(358)	133
Changes in accrued liability for employee severance benefits, net of retirement fund profit	42	(59)
Share-based compensation	2,337	2,954
Non-cash finance expenses, net	3	24
Changes in operating asset and liabilities:
Decrease in trade and other receivables	246	278
Increase in accounts payable and accruals	2,374	4,550
Net cash used in operating activities	(29,361)	(36,522)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(454)	(328)
Investment in bank deposits	(16,048)	(27,500)
Investment in marketable securities		(1,012)
Proceeds from sale and maturity of marketable securities and bank deposits	57,014	44,151
Net cash provided by investing activities	40,512	15,311
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options	18	10
Proceeds from exercise of warrants		840
Proceeds from issuance of shares, net of $39 issuance costs		16,131
Net cash provided by financing activities	18	16,981
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	11,169	(4,230)
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48	(24)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE PERIOD	28,118	16,206
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE PERIOD	39,335	11,952
Cash and cash equivalents	39,085	11,702
Restricted cash	250	250
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH SHOWN IN STATEMENT OF CASH FLOWS	39,335	11,952
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Cashless exercise of warrants and restricted share units	4	4
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for taxes		454
Interest received	666	505
Additions to operating lease right of use assets	867
Additions to operating lease liabilities	$ 850

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Securities purchase agreement [Member]
Stock issuance costs	$ 39

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION:	6 Months Ended
	Jun. 30, 2019
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’s shares are publicly traded on the Nasdaq Global Market under the symbol “FOMX”, since its initial public offering (“IPO”) in September 2014. Foamix is a late clinical-stage specialty pharmaceutical company focused on developing and commercializing its proprietary topical drug candidates for dermatological therapy. Foamix’s lead product candidate, FMX101 (4% minocycline foam), is being developed for the treatment of moderate-to-severe acne. An additional product candidate, FMX103 (1.5% minocycline foam), is being developed for the treatment of moderate-to-severe papulopustular rosacea. Both product candidates were developed using Molecule Stabilizing Technology Foamix also licensed certain 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. (hereinafter referred to as the "Subsidiary"). The Subsidiary was incorporated to assist Foamix with regard to marketing, regulatory affairs and business development relating to its pipeline and technology. Since incorporation through June 30, 2019, Foamix and its subsidiary (hereinafter referred to as “the Company”) incurred losses and negative cash flows from operations mainly attributable to its development efforts and has an accumulated deficit of $249,606. The Company has financed its operations mainly through the issuance of shares through private and public financing rounds, convertible loans and payments received pursuant to the terms of development and licensing agreements. The Company's cash and investments as of the issuance date of these financial statements, provide sufficient resources to fund its operations through at least the next 12 months. In order to successfully commercialize FMX101, FMX103 and any future product candidates, the Company may be required to obtain further funding through public or private offerings, debt financings, collaboration and licensing arrangements or other sources. Adequate additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to raise capital when needed or on attractive terms, it may be forced to delay, reduce or eliminate its research and development programs or commercialization and manufacturing efforts. 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 normal recurring adjustments, necessary for a fair statement of the Company’s consolidated financial position as of June 30, 2019, the consolidated results of operations, comprehensive loss and changes in shareholders’ equity for the three and six-month periods ended June 30, 2019 and 2018 and cash flows for the six-month periods ended June 30, 2019 and 2018. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual financial statements for the year ended December 31, 2018. The condensed consolidated balance sheet data as of December 31, 2018 was derived from the audited consolidated financial statements for the year ended December 31, 2018, included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2019, but does not include all disclosures required by U.S. GAAP for annual financial statements. The results for the three and six-month periods ended June 30, 2019 are not necessarily indicative of the results expected for the full year ending December 31, 2019.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES:	6 Months Ended
	Jun. 30, 2019
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 period 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 stock options and warrants which are included under the treasury share method when dilutive. The following average share options and restricted share units (“RSUs”) 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): Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Outstanding share options and RSUs 5,873,725 4,618,821 6,130,069 4,857,234 Warrants - 369,828 - 743,764 d. Newly issued and recently adopted accounting pronouncements Accounting pronouncements adopted in period: 1) In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). The new standard requires lessees to record assets and liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company adopted the standard as of January 1, 2019 on a modified retrospective basis and did not restate comparative periods. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carryforward the historical lease classification and not separate lease and non-lease components for the leases. The Company recognizes the lease payments in the consolidated statements of operations on a straight-line basis over the lease period. The adoption of the standard resulted in recognition of $1,357 of lease assets and lease liabilities as of January 1, 2019 on the Company’s consolidated balance sheets. 2) 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 standard, adopted as of January 1, 2019, had no material impact on the Company’s consolidated financial statements.

FAIR VALUE PRESENTATION

FAIR VALUE PRESENTATION	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 are classified in the tables below in one of the three categories described in note 2b above: June 30, 2019 Level 1 Level 2 Total Marketable securities $ 1,011 $ 13,501 $ 14,512 Currency options designated as hedging instruments (current liability) $ - $ (1 ) (1 ) December 31, 2018 Level 1 Level 2 Total Marketable securities $ 991 $ 46,229 $ 47,220 Currency options designated as hedging instruments (current liability) $ - $ (3 ) $ (3 ) The Company’s 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 June 30, 2019, the total hedged amount was NIS 1.8 million. The liability in the amount of $1 as of June 30, 2019 qualifies as hedge accounting. As of June 30, 2019, the Company has a lien in the amount of $282 on the Company’s marketable securities and a lien in the amount of $250 on the Company’s checking account, in respect of bank guarantees granted in order to secure the hedging transactions.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 4 - MARKETABLE SECURITIES Marketable securities as of June 30, 2019, and December 31, 2018 consisted mainly of debt and mutual funds 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 T June 30 December 31 2019 2018 Israeli mutual funds $ 1,011 $ 991 Certificates of deposit 1,589 2,773 U.S Government and agency bonds 11,413 25,215 U.S Treasury bills 499 18,241 Total $ 14,512 $ 47,220 As of June 30, 2019 and December 31, 2018, the fair value, cost and gross unrealized holding gains and losses of the marketable securities owned by the Company were as follows: June 30, 2019 Fair value Cost or amortized cost Gross unrealized holding losses Gross unrealized holding gains Certificates of deposit $ 1,589 $ 1,591 $ 2 $ - U.S Government and agency Bonds 11,413 11,411 - 2 U.S Treasury bills 499 499 - - Total $ 13,501 $ 13,501 $ 2 $ 2 December 31, 2018 Fair Cost or amortized cost Gross unrealized holding losses Gross unrealized holding gains Certificates of deposit $ 2,773 $ 2,790 $ 17 $ - U.S Government and agency Bonds 25,215 25,236 22 1 U.S Treasury bills 18,241 18,243 3 1 Total $ 46,229 $ 46,269 $ 42 $ 2 As of June 30, 2019, 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 June 30, 2019 and December 31, 2018. As of June 30, 2019 and December 31, 2018, the Company’s debt securities had the following maturity dates: Market value June 30, December 31, 2019 2018 Due within one year $ 13,501 $ 46,079 1 to 2 years - 150 Total $ 13,501 $ 46,229 During the six months ended June 30, 2019 and June 30, 2018 the Company received aggregate proceeds of $33,014 and $16,944, respectively, upon sale and maturity of marketable securities. $421 and $401 of the Company’s marketable securities were restricted as of June 30, 2019, and December 31, 2018, respectively, due to a lien in respect of bank guarantees granted to secure hedging transactions and the Company’s rental agreements. Refer to note 6 and note 3.

SHARE CAPITAL_

SHARE CAPITAL:	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
SHARE CAPITAL	NOTE 5 - SHARE CAPITAL: Authorized shares On April 10, 2019, the Company’s shareholders approved an increase of the Company’s authorized Ordinary Shares from 90,000,000 shares previously approved to 135,000,000 shares, NIS 0.16 per share. Share based compensation Equity incentive plan: On April 10, 2019, the Company's shareholders approved a new equity incentive plan (the "Plan") replacing the previous plans approved in 2015 and 2009. The Plan included a pool of 6,027,990 Ordinary Shares for grant to Company employees, consultants, directors and other service providers. As of June 30, 2019, 5,525,416 shares remain available for grant under the Plan. Employee Share Purchase Plan: On April 10, 2019 the Company’s shareholders approved an employee share purchase plan (“ESPP”) pursuant to which qualified employees (as defined in the ESPP) may elect to purchase designated shares of the Company’s Ordinary Shares at a price equal to 85% of the lesser of the fair market value of Ordinary Shares at the beginning or end of each semi-annual share purchase period (“Purchase Period”). Employees are permitted to purchase the number of shares purchasable with up to 15% of the earnings paid (as such term is defined in the ESPP) to each of the participating employees during the Purchase Period, subject to certain limitations under Section 423 of the US Internal Revenue Code. The number of Ordinary Shares initially reserved for purchase under the ESPP was 5,400,000 Ordinary Shares. As of June 30, 2019, the Company has not issued any shares pursuant to the ESPP. In the six months ended June 30, 2019 and 2018, the Company granted options and RSUs as follows: Six months ended June 30, 2019 Award amount Exercise price range Vesting period Expiration Employees: Options 1,030,236 $2.66-$3.81 4 years 10 years RSUs 274,628 - 4 years - Directors: Options 247,060 $2.66 1 years 10 years RSUs 140,976 - 1 years - Six months ended June 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 - The fair value of options and RSUs granted to employees during the six months ended June 30, 2019, and the six months ended June 30, 2018 was $3,687 and $3,287, respectively. The fair value of RSUs granted is based on the share price on grant date. The fair value of options granted was computed, as of the grant date, using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Six months ended June 30 2019 2018 Value of ordinary share $ 2.66-$3.83 $ 5.12-$5.99 Dividend yield 0 % 0 % Expected volatility 60.40%-61.40 % 62.10%-62.60 % Risk-free interest rate 2.20%-2.62 % 2.75%-2.84 % Expected term 6 years 6 years The following table illustrates the effect of share-based compensation on the statements of operations: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Research and development expenses $ 738 $ 1,303 $ 384 $ 412 Selling, general and administrative 1,599 1,651 1,004 788 $ 2,337 $ 2,954 $ 1,388 $ 1,200

COMMITMENTS

COMMITMENTS	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 6 - COMMITMENTS Operating lease agreements The Company leases office space for its headquarters and research and development facilities in Israel and the United States under several lease agreements. The lease agreement for the facilities in Israel is linked to the Israeli consumer price index (“CPI”) and due to expire in December 2020. The lease agreement in the United States was due to expire during March 2019. On March 13, 2019, the Company signed an amendment to the original lease agreement. The amendment includes an extension of the lease period of the 10,000 square feet currently leased under the original agreement (the "Current Space") and an addition of 4,639 square feet (the "Additional Space”). The Company will enter the Additional Space following a period of preparation by the lessor which is expected to be completed during August 2019 (the "Commencement Date"). On March 13, 2019, pursuant to the extension of the lease on the Current Space, the Company recognized an additional right of use asset and liability in the amount of $713. The Additional Space is considered a new lease agreement and will be recognized only on Commencement Date. As of June 30, 2019, the expected right of use asset and liability of the Additional Space to be recognized on the Commencement Date is $351. In July 2017, the Company entered into operating lease agreements in connection with the leasing of several 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 part of the operating lease right to use assets. Operating lease costs for the three months ended June 30, 2019, are as follows: Six months ended June 30 Three months ended June 30 2019 2019 Office lease expenses $ 394 $ 212 Vehicles lease expenses $ 33 $ 8 Cash paid for amounts included in the measurement of lease liabilities are as follows: Six months ended June 30 Three months ended June 30 2019 2019 Office lease $ 389 $ 188 Vehicles lease $ 72 $ 36 Supplemental information related to leases are as follows: June 30 2019 Operating lease right-of-use assets 1,858 Operating lease liabilities 1,882 Weighted average remaining lease term 2.22 Weighted average discount rate 5.54 % Maturities of lease liabilities are as follows: 2019 511 2020 1,014 2021 326 2022 156 Total lease payments 2,007 Less imputed interest (125 ) Total lease liability 1,882 As of June 30, 2019, the Company had a lien in the amount of $139 on the Company’s marketable securities in respect of bank guarantees granted in order to secure the lease agreements. The Company elected the alternative modified transition method and included the following table previously disclosed. Future minimum lease commitments under non-cancelable operating lease agreements as of December 31, 2018 were as follows: 2019 $ 746 2020 682 2021 and thereafter 21 Total $ 1,449

ENTITY-WIDE DISCLOSURES_

ENTITY-WIDE DISCLOSURES:	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
ENTITY-WIDE DISCLOSURE:	NOTE 7 - ENTITY-WIDE DISCLOSURE: a. Net revenues by geographic area were as follows: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 United States $ - $ 62 $ - $ - Denmark 308 - - - Germany - 1,808 - 964 Total revenues $ 308 $ 1,870 $ - $ 964 b. Customers exceeding 10% of revenues: During the three and six months ended June 30, 2019 and June 30, 2018 the Company had one customer exceeding over 10% of total revenues. Revenues from the customer were $308 and $1,808 during the six months ended June 30, 2018, revenue from the customer was $964, and there was no corresponding revenue for the three months ended June 30, 2019. c. Net revenues by type of payment: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Development service payments $ - $ 62 $ - $ - Royalties 308 1,808 - 964 Total revenues $ 308 $ 1,870 $ - $ 964

SUBSEQUENT EVENTS_

SUBSEQUENT EVENTS:	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS:	NOTE 8 - SUBSEQUENT EVENTS: On July 29, 2019 (the “Closing date”) the Company secured up to $50 million in debt from two of its current shareholders (the “lenders ”) and entered into a Securities Purchase Agreement with one of the lenders for aggregate gross proceeds of approximately $14 million, before deducting offering expenses. The debt consists of term loans under a credit agreement (the “Credit Agreement”) and comprises of three trenches: (a) $15 million to be funded at closing (the “Tranche 1 Loan”), (b) up to $20 million available after the closing date but prior to February 29, 2020 (the “Tranche 2 Loan”) and (c) up to $15 million available after the closing date (the “Tranche 3 Loan”). The Company shall be permitted to borrow the Tranche 2 Loan only following (i) the FDA’s approval of the Company’s NDA for FMX101 and listing of FMX101 in the FDA’s “Orange Book,” and (ii) such time at which the Company has secured arrangements with a third party for the commercial supply and manufacture of FMX101. The Company shall be permitted to borrow the Tranche 3 Loan only following the achievement of certain revenue targets. Subject to any acceleration as provided in the Credit Agreement, including upon an event of default (as defined in the Credit Agreement), the credit facility will mature on July 29, 2024 and bear interest equal to the sum of (A) 8.25% (subject to increase in accordance with the terms of the Credit Agreement) plus (B) the greater of (x) the one-month LIBOR as of the second business day immediately preceding the first day of the calendar month or the date of borrowing (if such loan is not outstanding as of the first day of the calendar month), as applicable, and (y) 2.75%. A fee in an amount equal to 1.0% of the aggregate principal amount of all loans made on any given borrowing date shall be payable to the lenders. The Credit Agreement is secured by a first-priority lien and security interest in substantially all of the Company’s tangible and intangible assets including intellectual property. The Credit Agreement contains certain financial covenants, including that the Company (1) at all times prior to FDA approval of FMX101 maintain a minimum aggregate cash balance of $15 million; (2) at all times on or after the date of FDA approval of FMX101 maintain a minimum aggregate cash balance of $2.5 million; and (3) as of the last day of each fiscal quarter commencing on the fiscal quarter ending September 30, 2020, receive revenue for the trailing 12-month period in amounts set forth in the Credit Agreement, which range from $10.5 million for the fiscal quarter ending September 30, 2020 to $109.5 million for the fiscal quarter ending June 30, 2024. Under the Credit Agreement, there are no required payments of principal amounts until July 2023. In connection with the Credit Agreement, on Closing date, the Company issued to the lender warrants to purchase up to an aggregate of 1,100,000 of its Ordinary Shares, at an exercise price of $2.09 per share, which represents the 5-day volume weighted average price as of the trading day immediately prior to the closing. The warrants are exercisable immediately following the closing of the Credit Agreement and are due to expire on July 29, 2026. Pu rsuant to the , the Company The Company is currently evaluating the impact of these transactions on the consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES: (Policies)	6 Months Ended
	Jun. 30, 2019
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 period 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 stock options and warrants which are included under the treasury share method when dilutive. The following average share options and restricted share units (“RSUs”) 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): Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Outstanding share options and RSUs 5,873,725 4,618,821 6,130,069 4,857,234 Warrants - 369,828 - 743,764
Newly issued and recently adopted accounting pronouncements:	d. Newly issued and recently adopted accounting pronouncements Accounting pronouncements adopted in period: 1) In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). The new standard requires lessees to record assets and liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company adopted the standard as of January 1, 2019 on a modified retrospective basis and did not restate comparative periods. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carryforward the historical lease classification and not separate lease and non-lease components for the leases. The Company recognizes the lease payments in the consolidated statements of operations on a straight-line basis over the lease period. The adoption of the standard resulted in recognition of $1,357 of lease assets and lease liabilities as of January 1, 2019 on the Company’s consolidated balance sheets. 2) 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 standard, adopted as of January 1, 2019, had no material impact on the Company’s consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES: (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedule of anti-dilutive securities	The following average share options and restricted share units (“RSUs”) 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): Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Outstanding share options and RSUs 5,873,725 4,618,821 6,130,069 4,857,234 Warrants - 369,828 - 743,764

FAIR VALUE PRESENTATION (Tables

FAIR VALUE PRESENTATION (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 are classified in the tables below in one of the three categories described in note 2b above: June 30, 2019 Level 1 Level 2 Total Marketable securities $ 1,011 $ 13,501 $ 14,512 Currency options designated as hedging instruments (current liability) $ - $ (1 ) (1 ) December 31, 2018 Level 1 Level 2 Total Marketable securities $ 991 $ 46,229 $ 47,220 Currency options designated as hedging instruments (current liability) $ - $ (3 ) $ (3 )

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	T June 30 December 31 2019 2018 Israeli mutual funds $ 1,011 $ 991 Certificates of deposit 1,589 2,773 U.S Government and agency bonds 11,413 25,215 U.S Treasury bills 499 18,241 Total $ 14,512 $ 47,220
Schedule of the fair value, cost and gross unrealized holding gains of the securities owned	As of June 30, 2019 and December 31, 2018, the fair value, cost and gross unrealized holding gains and losses of the marketable securities owned by the Company were as follows: June 30, 2019 Fair value Cost or amortized cost Gross unrealized holding losses Gross unrealized holding gains Certificates of deposit $ 1,589 $ 1,591 $ 2 $ - U.S Government and agency Bonds 11,413 11,411 - 2 U.S Treasury bills 499 499 - - Total $ 13,501 $ 13,501 $ 2 $ 2 December 31, 2018 Fair Cost or amortized cost Gross unrealized holding losses Gross unrealized holding gains Certificates of deposit $ 2,773 $ 2,790 $ 17 $ - U.S Government and agency Bonds 25,215 25,236 22 1 U.S Treasury bills 18,241 18,243 3 1 Total $ 46,229 $ 46,269 $ 42 $ 2
Schedule of maturity dates of debt securities	As of June 30, 2019 and December 31, 2018, the Company’s debt securities had the following maturity dates: Market value June 30, December 31, 2019 2018 Due within one year $ 13,501 $ 46,079 1 to 2 years - 150 Total $ 13,501 $ 46,229

SHARE CAPITAL_ (Tables)

SHARE CAPITAL: (Tables)	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of options and RSUs granted to employees, directors and non-employees	In the six months ended June 30, 2019 and 2018, the Company granted options and RSUs as follows: Six months ended June 30, 2019 Award amount Exercise price range Vesting period Expiration Employees: Options 1,030,236 $2.66-$3.81 4 years 10 years RSUs 274,628 - 4 years - Directors: Options 247,060 $2.66 1 years 10 years RSUs 140,976 - 1 years - Six months ended June 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 -
Schedule of underlying data used for computing the fair value of the options	The fair value of options granted was computed, as of the grant date, using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Six months ended June 30 2019 2018 Value of ordinary share $ 2.66-$3.83 $ 5.12-$5.99 Dividend yield 0 % 0 % Expected volatility 60.40%-61.40 % 62.10%-62.60 % Risk-free interest rate 2.20%-2.62 % 2.75%-2.84 % 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: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Research and development expenses $ 738 $ 1,303 $ 384 $ 412 Selling, general and administrative 1,599 1,651 1,004 788 $ 2,337 $ 2,954 $ 1,388 $ 1,200

COMMITMENTS (Tables)

COMMITMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating lease expense	Operating lease costs for the three months ended June 30, 2019, are as follows: Six months ended June 30 Three months ended June 30 2019 2019 Office lease expenses $ 394 $ 212 Vehicles lease expenses $ 33 $ 8
Schedule of Cash Paid for Lease Liabilities	Cash paid for amounts included in the measurement of lease liabilities are as follows: Six months ended June 30 Three months ended June 30 2019 2019 Office lease $ 389 $ 188 Vehicles lease $ 72 $ 36
Schedule of Supplemental Information Related to Leases	Supplemental information related to leases are as follows: June 30 2019 Operating lease right-of-use assets 1,858 Operating lease liabilities 1,882 Weighted average remaining lease term 2.22 Weighted average discount rate 5.54 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: 2019 511 2020 1,014 2021 326 2022 156 Total lease payments 2,007 Less imputed interest (125 ) Total lease liability 1,882
Schedule of Future Minimum Lease Commitments	Future minimum lease commitments under non-cancelable operating lease agreements as of December 31, 2018 were as follows: 2019 $ 746 2020 682 2021 and thereafter 21 Total $ 1,449

ENTITY-WIDE DISCLOSURES_ (Table

ENTITY-WIDE DISCLOSURES: (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of net revenues by geographic area	a. Net revenues by geographic area were as follows: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 United States $ - $ 62 $ - $ - Denmark 308 - - - Germany - 1,808 - 964 Total revenues $ 308 $ 1,870 $ - $ 964
Schedule of Net Revenues by Payment Type	c. Net revenues by type of payment: Six months ended June 30 Three months ended June 30 2019 2018 2019 2018 Development service payments $ - $ 62 $ - $ - Royalties 308 1,808 - 964 Total revenues $ 308 $ 1,870 $ - $ 964

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION: (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 215,409	$ 249,606
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) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 02, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Lease assets and lease liabilities					$ 1,357
Options and RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Average shares excluded from the computation of diluted net loss per share, because the effect of their inclusion in the computation would be anti-dilutive	6,130,069	4,857,234	5,873,725	4,618,821
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Average shares excluded from the computation of diluted net loss per share, because the effect of their inclusion in the computation would be anti-dilutive		743,764		369,828

FAIR VALUE PRESENTATION (Schedu

FAIR VALUE PRESENTATION (Schedule of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 14,512	$ 47,220
Currency options designated as hedging instruments (current liabilities)	(1)	(3)
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	1,011	991
Currency options designated as hedging instruments (current liabilities)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,501	46,229
Currency options designated as hedging instruments (current liabilities)	$ (1)	$ (3)

FAIR VALUE PRESENTATION (Narrat

FAIR VALUE PRESENTATION (Narrative) (Details) - 6 months ended Jun. 30, 2019 ₪ in Thousands, $ in Thousands	USD ($)	ILS (₪)
FAIR VALUE MEASURMENTS [Abstract]
Currency hedging transactions, maximum term	1 year
Total hedged amount | ₪		₪ 1,800
Derivative liability	$ 1
Foreign exchange risk lien on marketable securities for bank guarantees granted to secure hedging transactions	282
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	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 14,512	$ 47,220
Israeli mutual funds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	1,011	991
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	1,589	2,773
U.S. Goverment and agency bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	11,413	25,215
U.S Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 499	$ 18,241

MARKETABLE SECURITIES (Schedu_2

MARKETABLE SECURITIES (Schedule of Fair Value, Cost and Gross Unrealized Holding Gains of Securities Owned) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 14,512	$ 47,220
Cost or amortized cost	13,501	46,269
Gross unrealized holding losses	2	42
Gross unrealized holding gains	2	2
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	1,589	2,773
Cost or amortized cost	1,591	2,790
Gross unrealized holding losses	2	17
Gross unrealized holding gains
U.S. Goverment and agency bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	11,413	25,215
Cost or amortized cost	11,411	25,236
Gross unrealized holding losses		22
Gross unrealized holding gains	2	1
U.S Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	499	18,241
Cost or amortized cost	499	18,243
Gross unrealized holding losses		3
Gross unrealized holding gains		$ 1

MARKETABLE SECURITIES (Schedu_3

MARKETABLE SECURITIES (Schedule of Maturity Dates of Debt Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 13,501	$ 46,079
1 to 2 years		150
Total	$ 13,501	$ 46,229

MARKETABLE SECURITIES (Narrativ

MARKETABLE SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Secondary Offering [Member]
Proceeds from sale and maturity of marketable securities	$ 33,014	$ 16,944
Marketable securities restricted	$ 421		$ 401
Adjustment in accumulated deficit		$ 35

SHARE CAPITAL_ (Narrative) (Det

SHARE CAPITAL: (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019₪ / sharesshares	Apr. 10, 2019₪ / sharesshares	Dec. 31, 2018₪ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares, par value (in NIS per share) | ₪ / shares			₪ 0.16	₪ 0.16	₪ 0.16
Ordinary shares, shares authorized			135,000,000	90,000,000	90,000,000
Share options [Member] | Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted | $	$ 3,687	$ 3,287
New equity incentive plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant			5,525,416
Number of shares authorized under the plan				6,027,990
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant			5,400,000
Rate of ordinary shares for qualified employees				85.00%
Percentage of number of shares purchasable				15.00%
Previously approved [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares, par value (in NIS per share) | ₪ / shares				₪ 0.16
Ordinary shares, shares authorized				135,000,000

SHARE CAPITAL_ (Schedule of Opt

SHARE CAPITAL: (Schedule of Options and RSUs Granted to Employees and Non-employees) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share options [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	1,030,236	571,530
Exercise price range, minimum	$ 2.66	$ 5.06
Exercise price range, maximum	$ 3.81	$ 6.40
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	247,060	174,373
Exercise price range, minimum		$ 5.02
Exercise price range, maximum		$ 5.06
Exercise price	$ 2.66
Vesting period	1 year	1 year
Expiration period	10 years	10 years
RSUs [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	274,628	126,844
Vesting period	4 years	4 years
RSUs [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	140,976	14,829
Vesting period	1 year	3 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	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility, minimum	60.40%	62.10%
Expected volatility, maximum	61.40%	62.60%
Risk-free interest rate, minimum	2.20%	2.75%
Risk-free interest rate, maximum	2.62%	2.84%
Expected term	6 years	6 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 2.66	$ 5.12
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of ordinary share	$ 3.83	$ 5.99

SHARE CAPITAL_ (Schedule of Sha

SHARE CAPITAL: (Schedule of Share-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 1,388	$ 1,200	$ 2,337	$ 2,954
Research and development expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	384	412	738	1,303
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 1,004	$ 788	$ 1,599	$ 1,651

COMMITMENTS (Schedule of Operat

COMMITMENTS (Schedule of Operating lease expense) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Additional right of use asset and liability recognized on Current Space		$ 713
Expected right of use asset and liability of the Additional Space to be recognized on the Commencement Date	$ 351	351
Office Building [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	212	394
Vehicle [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 8	$ 33

COMMITMENTS (Schedule of Cash p

COMMITMENTS (Schedule of Cash paid for lease liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Office lease	$ 188	$ 389
Vehicles lease	$ 36	$ 72

COMMITMENTS (Schedule of Supple

COMMITMENTS (Schedule of Supplemental Information Related to Leases) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use assets	$ 1,858
Operating lease liabilities	$ 1,882
Weighted average remaining lease term	2 years 2 months 19 days
Weighted average discount rate	5.54%

COMMITMENTS (Schedule of Maturi

COMMITMENTS (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
2019	$ 511
2020	1,014
2021	326
2022	156
Total	2,007
Less imputed interest	(125)
Total lease liability	1,882
Restricted investments in marketable securities	$ 139	$ 133

COMMITMENTS (Schedule of Future

COMMITMENTS (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 746
2020	682
2021 and thereafter	21
Total	$ 1,449

ENTITY-WIDE DISCLOSURES_ (Sched

ENTITY-WIDE DISCLOSURES: (Schedule of Net Revenues by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 964	$ 308	$ 1,870
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues				62
Denmark [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues			308
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 964		$ 1,808

ENTITY-WIDE DISCLOSURES_ (Sch_2

ENTITY-WIDE DISCLOSURES: (Schedule of Net Revenues by Payment Type) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue, Major Customer [Line Items]
Total revenues		$ 964	$ 308	$ 1,870
Revenue [Member] | Development Service Payments [Member]
Revenue, Major Customer [Line Items]
Total revenues				62
Revenue [Member] | Royalties [Member]
Revenue, Major Customer [Line Items]
Total revenues		$ 964	$ 308	$ 1,808

SUBSEQUENT EVENTS_ (Details)

SUBSEQUENT EVENTS: (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended
	Jul. 29, 2019	Jun. 30, 2024	Sep. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Revenue received					$ 964	$ 308	$ 1,870
Shares issued during the period, value					$ 16,131		$ 16,131
Subsequent Event [Member]
Subsequent Event [Line Items]
Debt instrument face amount	$ 50,000
Maturity date	Jul. 29, 2024
Interest rate	8.25%
Fee amount	1.00%
Revenue received		$ 109,500	$ 10,500
Warrants issued to purchase ordinary shares	1,100,000
Exercise price	$ 2.09
Warrants expiration date	Jul. 29, 2026
Subsequent Event [Member] | Securities Purchase Agreement with one of shareholders [Member]
Subsequent Event [Line Items]
Gross proceeds from Securities Purchase Agreement with lender	$ 1,400,000
Shares issued during the period	6,542,057
Shares issued price per share	$ 2.14
Shares issued during the period, value	$ 14,000
Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Interest rate	2.75%
Minimum aggregate cash balance to maintain after FDA approval	$ 2,500
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Minimum aggregate cash balance to maintain after FDA approval	15,000
Subsequent Event [Member] | Tranche 1 Loan [Member]
Subsequent Event [Line Items]
Debt instrument face amount	15,000
Subsequent Event [Member] | Tranche 2 Loan [Member]
Subsequent Event [Line Items]
Debt instrument face amount	20,000
Subsequent Event [Member] | Tranche 3 Loan [Member]
Subsequent Event [Line Items]
Debt instrument face amount	$ 15,000