Foamix Pharmaceuticals (FOMX) 10-Q 12 Nov 19 2019 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2019	Nov. 04, 2019
DOCUMENT AND ENTITY INFORMATION [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 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	Q3
Entity Filer Category	Accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Transition Period	true
Entity Common Stock, Shares Outstanding		61,253,788
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 40,534	$ 27,868
Restricted cash	250	250
Short term bank deposits	19,141	24,047
Investment in marketable securities (Note 4)	15,333	46,669
Restricted investment in marketable securities (Note 4)	288	268
Accounts receivable:
Trade		1,066
Other	979	999
TOTAL CURRENT ASSETS	76,525	101,167
NON-CURRENT ASSETS:
Investment in marketable securities (Note 4)		150
Restricted investment in marketable securities (Note 4)	143	133
Property and equipment, net	2,809	2,235
Operating lease right of use assets (Note 7)	1,947
Other	159	46
TOTAL NON-CURRENT ASSETS	5,058	2,564
TOTAL ASSETS	81,583	103,731
Accounts payable and accruals:
Trade	7,357	6,327
Operating lease liabilities (Note 7)	1,136
Other	4,877	4,141
TOTAL CURRENT LIABILITIES	13,370	10,468
LONG-TERM LIABILITIES:
Liability for employee severance benefits	419	367
Operating lease liabilities (Note 7)	870
Long-term debt (Note 5)	12,939
Other liabilities	456	714
TOTAL LONG-TERM LIABILITIES	14,684	1,081
TOTAL LIABILITIES	28,054	11,549
COMMITMENTS (Note 7)
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.16 par value - authorized: 135,000,000 and 90,000,000 Ordinary Shares as of September 30, 2019 and December 31, 2018, respectively; issued and outstanding: 61,121,087 and 54,351,140 Ordinary Shares as of September 30, 2019 and December 31, 2018, respectively	2,638	2,331
Additional paid-in capital	323,657	305,303
Accumulated deficit	(272,767)	(215,409)
Accumulated other comprehensive loss	1	(43)
TOTAL SHAREHOLDERS' EQUITY	53,529	92,182
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 81,583	$ 103,731

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - ₪ / shares	Sep. 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	61,121,087	54,351,140
Ordinary shares, shares outstanding	61,121,087	54,351,140

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
REVENUES (Note 8)		$ 865	$ 308	$ 2,735
OPERATING EXPENSES:
Research and development	12,452	13,142	35,856	52,809
Selling, general and administrative	10,747	3,309	22,894	10,019
TOTAL OPERATING EXPENSES	23,199	16,451	58,750	62,828
OPERATING LOSS	23,199	15,586	58,442	60,093
FINANCE INCOME, net	(38)	(119)	(908)	(471)
LOSS BEFORE INCOME TAX	23,161	15,467	57,534	59,622
INCOME TAX		13	(176)	463
NET LOSS FOR THE PERIOD	$ 23,161	$ 15,480	$ 57,358	$ 60,085
LOSS PER SHARE BASIC AND DILUTED	$ 0.41	$ 0.38	$ 1.05	$ 1.50
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE IN THOUSANDS	55,984	40,873	54,420	39,932

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
NET LOSS	$ 23,161	$ 15,480	$ 57,358	$ 60,085
OTHER COMPREHENSIVE LOSS (INCOME):
Net unrealized gains from marketable securities	(1)	(34)	(41)	(44)
Losses on marketable securities reclassified into net loss		(3)		(5)
Net unrealized losses (gains) on derivative financial instruments	(1)	(13)	(3)	68
losses on derivative financial instruments reclassified into net loss		(20)		(55)
TOTAL OTHER COMPREHENSIVE INCOME	(2)	(70)	(44)	(36)
TOTAL COMPREHENSIVE LOSS	$ 23,159	$ 15,410	$ 57,314	$ 60,049

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			(60,085)	(36)	(60,049)
Issuance of ordinary shares through a public offering, net of $5,175 issuance costs	$ 599	74,749			75,348
Issuance of ordinary shares through a public offering, net of $5,175 issuance costs (shares)	13,420,500
Issuance of ordinary shares through a securities purchase agreement, net of $39 issuance costs	$ 134	15,997			16,131
Issuance of ordinary shares through a securities purchase agreement, net of $39 issuance costs (shares)	2,940,000
Exercise of warrants	$ 8	832			840
Exercise of warrants (shares)	178,468
Exercise of options and restricted share units	$ 10	33			43
Exercise of options and restricted share units (shares)	233,078
Share-based compensation (Note 6)		4,144			4,144
Balance at Sep. 30, 2018	$ 2,327	304,119	(201,331)	(57)	105,058
Balance (shares) at Sep. 30, 2018	54,270,174
Balance at Jun. 30, 2018	$ 1,721	228,154	(185,851)	(127)	43,897
Balance (shares) at Jun. 30, 2018	40,693,479
CHANGES DURING THE PERIOD:
Comprehensive loss			(15,480)	70	(15,410)
Issuance of ordinary shares through a public offering, net of $5,175 issuance costs	$ 599	74,749			75,348
Issuance of ordinary shares through a public offering, net of $5,175 issuance costs (shares)	13,420,500
Exercise of options and restricted share units	$ 7	26			33
Exercise of options and restricted share units (shares)	156,195
Share-based compensation (Note 6)		1,190			1,190
Balance at Sep. 30, 2018	$ 2,327	304,119	(201,331)	(57)	105,058
Balance (shares) at Sep. 30, 2018	54,270,174
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			(57,358)	44	$ (57,314)
Issuance of ordinary shares and warrants, net of $359 issuance costs (Note 5 and 6)	$ 297	14,714			15,011
Issuance of ordinary shares and warrants, net of $359 issuance costs (Note 5 and 6) (shares)	6,542,057
Exercise of options and restricted share units	$ 10	34			44
Exercise of options and restricted share units (shares)	227,890
Share-based compensation (Note 6)		3,606			3,606
Balance at Sep. 30, 2019	$ 2,638	323,657	(272,767)	1	$ 53,529
Balance (shares) at Sep. 30, 2019	61,121,087				61,121,087
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
CHANGES DURING THE PERIOD:
Comprehensive loss			(23,161)	2	$ (23,159)
Issuance of ordinary shares and warrants, net of $359 issuance costs (Note 5 and 6)	$ 297	14,714			15,011
Issuance of ordinary shares and warrants, net of $359 issuance costs (Note 5 and 6) (shares)	6,542,057
Exercise of options and restricted share units	$ 5	21			26
Exercise of options and restricted share units (shares)	123,061
Share-based compensation (Note 6)		1,269			1,269
Balance at Sep. 30, 2019	$ 2,638	$ 323,657	$ (272,767)	$ 1	$ 53,529
Balance (shares) at Sep. 30, 2019	61,121,087				61,121,087

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Issuance costs	$ 359	$ 5,175	$ 359	$ 5,175
Warrants [Member]
Issuance costs	$ 73		$ 73
Securities purchase agreement [Member]
Issuance costs				$ 39

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 57,358	$ 60,085
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	256	243
Loss from disposal and sale of fixed assets	7	39
Changes in marketable securities and bank deposits, net	(269)	165
Changes in accrued liability for employee severance benefits, net of retirement fund profit	52	(57)
Share-based compensation	3,606	4,144
Non-cash finance expenses, net	85	20
Changes in operating asset and liabilities:
Decrease (increase) in trade and other receivables	1,086	(756)
Increase in other non-current assets	(124)	(12)
Increase (decrease) in accounts payable and accruals	1,511	(1,467)
Net cash used in operating activities	(51,148)	(57,766)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(861)	(408)
Proceeds from sale of fixed assets	24	10
Investment in bank deposits	(34,061)	(27,500)
Investment in marketable securities	(13,940)	(1,012)
Proceeds from sale and maturity of marketable securities and bank deposits	84,673	66,255
Net cash provided by investing activities	35,835	37,345
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options	54	43
Proceeds from exercise of warrants		840
Withholding tax from net exercise of restricted share units	(10)
Proceeds from issuance of shares, net of issuance costs	13,714	16,131
Proceeds from issuance of shares through public offerings, net of $5,175 issuance costs		75,348
Proceeds from debt financing and issuance of warrants, net of $804 issuance costs	14,196
Net cash provided by financing activities	27,954	92,362
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12,641	71,941
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	25	(20)
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	40,784	88,127
Cash and cash equivalents	40,534	87,877
Restricted cash	250	250
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH SHOWN IN STATEMENT OF CASH FLOWS	40,784	88,127
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Cashless exercise of warrants and restricted share units	7	7
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for taxes		469
Interest received	1,125	784
Interest paid	289
Additions to operating lease right of use assets	1,193
Additions to operating lease liabilities	$ 1,175

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Stock issuance costs	$ 0	$ 5,175
Warrants [Member]
Stock issuance costs	$ 804

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION:	9 Months Ended
	Sep. 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 have been publicly traded on the Nasdaq Global Market under the symbol “FOMX” since its initial public offering (“IPO”) in September 2014. Foamix is a commercial-stage specialty pharmaceutical company focused on the development and commercialization of innovative therapies in dermatology. On October 18, 2019, the U.S. Food and Drug Administration (“FDA”) approved Foamix’s first drug product, AMZEEQ (minocycline) topical foam, 4%, formerly known as FMX101, a once-daily topical antibiotic for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 9 years of age and older. Foamix is also developing a product candidate, FMX103 (minocycline) topical foam, 1.5%, for the treatment of moderate-to-severe papulopustular rosacea in adults. Both AMZEEQ and FMX103 were developed using Molecule Stabilizing Technology, a proprietary foam platform designed to optimize the topical delivery of minocycline, an active pharmaceutical ingredient (“API”), that was available only in oral form until the FDA’s approval of AMZEEQ. 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 commercialization activities, regulatory affairs and business development relating to its pipeline and technology. Since incorporation through September 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 $272,767. The Company has financed its operations mainly through the issuance of shares through private and public financing rounds, debt financing, warrants 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, along with funds the Company may be entitled to receive under a credit agreement (see note 5) and the Company’s 2020 estimated revenues, provide sufficient resources to fund its operations through at least the next 12 months. In order to successfully commercialize AMZEEQ, 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 September 30, 2019, the consolidated results of operations, comprehensive loss and changes in shareholders’ equity for the three and nine-month periods ended September 30, 2019 and 2018 and cash flows for the nine-month periods ended September 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, for the year ended December 31, 2018, 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 nine-month periods ended September 30, 2019 are not necessarily indicative of the results expected for the full year ending December 31, 2019.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES:	9 Months Ended
	Sep. 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, restricted share units (“RSUs”), warrant and incremental share to be issued under the employee share purchase plan (“ESPP”) 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 months ended September 30 Three months ended September 30 2019 2018 2019 2018 Outstanding share options, RSUs and shares under the ESPP 6,055,554 4,680,521 6,380,647 4,874,889 Warrants 253,846 715,158 761,538 - 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	9 Months Ended
	Sep. 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 September 30, 2019 and December 31, 2018 are classified in the tables below in one of the three categories described in Note 2b above: September 30, 2019 Level 1 Level 2 Total Marketable securities $ 1,016 $ 14,748 $ 15,764 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 Occasionally, 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, 2019, there were no hedged amounts. As of September 30, 2019, the Company has a lien in the amount of $288 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	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 4 - MARKETABLE SECURITIES Marketable securities as of September 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 September 30 December 31 2019 2018 Israeli mutual funds $ 1,016 $ 991 Certificates of deposit 805 2,773 U.S Government bonds 4,010 25,215 U.S Treasury bills 9,933 18,241 Total $ 15,764 $ 47,220 As of September 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: September 30, 2019 Fair Cost or amortized cost Gross unrealized Gross unrealized value holding losses holding gains Certificates of deposit $ 805 $ 805 $ - * $ - * U.S Government bonds 4,010 4,010 - * - * U.S Treasury bills 9,933 9,932 - * 1 Total $ 14,748 $ 14,747 $ - $ 1 * Represents amounts less than $1. December 31, 2018 Fair Cost or amortized cost Gross unrealized Gross unrealized value holding loss 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 September 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 September 30, 2019 and December 31, 2018. As of September 30, 2019 and December 31, 2018, the Company’s debt securities had the following maturity dates: Market value September 30, December 31, 2019 2018 Due within one year $ 14,748 $ 46,079 1 to 2 years - 150 Total $ 14,748 $ 46,229 During the nine months ended September 30, 2019 and September 30, 2018, the Company received aggregate proceeds of $45,673 and $25,548, respectively, upon sale and maturity of marketable securities. $431 and $401 of the Company’s marketable securities were restricted as of September 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 7 and Note 3.

LONG-TERM DEBT_

LONG-TERM DEBT:	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 5 - LONG-TERM DEBT: On July 29, 2019 (the “Closing Date”) the Company secured up to $50 million in debt from two of its current shareholders, who are considered related parties (the “lenders”) and entered into a Securities Purchase Agreement with one of the lenders for gross proceeds of approximately $14 million, before deducting offering expenses (see Note 6). The debt consists of term loans under a credit agreement (the “Credit Agreement”) and comprises of three trenches: (a) $15 million 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 and prior to September 30, 2020 (the “Tranche 3 Loan”). The Company shall be permitted to borrow the Tranche 2 Loan only following the FDA’s approval of the Company’s NDA for AMZEEQ (formerly known as FMX101) and listing of AMZEEQ in the FDA’s “Orange Book,” provided that, at such time, the Company has maintained its arrangements with a third party for the commercial supply and manufacture of AMZEEQ. 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 AMZEEQ maintain a minimum aggregate cash balance of $15 million; (2) at all times on or after the date of FDA approval of AMZEEQ 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 September 30, 2024. As of September 30, 2019, the Company is in compliance with all covenants, including maintaining a minimum aggregate cash balance as mentioned above. In the event where the Company fails to observe or perform any of the financial covenants the lenders may, by notice to the Company, declare the Term Loans then outstanding to be due and payable in whole, together with accrued interest and a Prepayment Premium (as defined in the Credit Agreement). Under the Credit Agreement, there are no required payments of principal amounts until July 2023. Afterwards, the Company will pay 1.5% of the aggregate principal amount each month. The outstanding amount will be paid in full on July 2024. In connection with the Credit Agreement, on the Closing Date, the Company issued to the lenders warrants to purchase up to an aggregate of 1,100,000 of its Ordinary Shares, at an exercise price of $2.09 per share (the “Warrant”), which represents the five-day volume weighted average price of the Ordinary Shares as of the trading day immediately prior to the Closing Date. Payment of the exercise price will be made, at the option of the lender, either in cash or as a reduction of Ordinary Shares issuable upon exercise of the Warrant, with an aggregate fair value equal to the aggregate exercise price ("cashless exercise"), or any combination of the foregoing. The Warrants were exercisable immediately following the closing of the Credit Agreement and are due to expire on July 29, 2026. Any Warrants left outstanding will be cashless exercised on the Warrants' expiration date, if in the money. The Warrants issued were classified as equity in accordance with ASC 815-40. Proceeds received under the Tranche 1 Loan were allocated to the Warrants and the Tranche 1 Loan on a relative fair value basis. The company has incurred offering expenses of $1,090 in connection with transactions contemplated by the Credit Agreement and the Securities Purchase Agreement, which were allocated to the Warrants, shares and debt consistently with the allocation of proceeds. Debt issuance costs are recorded on the consolidated balance sheet as a reduction of liabilities. Amounts allocated to the debt, net of issuance cost, are subsequently recognized at amortized cost using the effective interest method. The fair value of the debt as of September 30, 2019 was $15.1 million and is categorized as Level 3. During the three months ended September 30, 2019 the company recorded finance expense of $289 and $40 relating to the interest and discount cost, respectively.

SHARE CAPITAL_

SHARE CAPITAL:	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
SHARE CAPITAL	NOTE 6- 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. Issuance of shares On July 29, 2019, pursuant to the Credit Agreement and Securities Purchase Agreement, the Company issued and sold, in a registered offering, an aggregate of 6,542,057 shares of the Company’s Ordinary Shares, at a purchase price of $2.14 per share, representing the closing share price on the last trading day prior to signing, for aggregate gross proceeds of approximately $14 million, before deducting offering expenses in the amount of $286. Warrants In connection with the Credit Agreement, on the Closing Date, the Company issued to the lender Warrants to purchase up to an aggregate of 1,100,000 of its Ordinary Shares. The warrants were exercisable immediately following the closing of the Credit Agreement and are due to expire on July 29, 2026. Any Warrants left outstanding will be cashless exercised on the Warrants' expiration date, if in the money. As of September 30, 2019, no Warrants have been exercised. Share based compensation Equity incentive plan: On April 10, 2019, the Company's shareholders approved a new equity incentive plan (the "Plan") replacing the prior equity 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 September 30, 2019, 5,373,741 shares remain available for grant under the Plan. Employee Share Purchase Plan: On April 10, 2019 the Company’s shareholders approved an 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 U.S. Internal Revenue Code. The number of Ordinary Shares initially reserved for purchase under the ESPP was 5,400,000 Ordinary Shares. As of September 30, 2019, the Company has not issued any shares pursuant to the ESPP. In the nine months ended September 30, 2019 and 2018, the Company granted options and RSUs as follows: Nine months ended September 30, 2019 Award amount Exercise price range Vesting period Expiration Employees: Options 1,180,736 $ 2.36-$3.81 4 years 10 year RSUs 284,628 - 4 years - Directors: Options 247,060 $ 2.66 1 year 10 year RSUs 140,976 - 1 year - 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 - The fair value of options and RSUs granted to employees during the nine months ended September 30, 2019, and the nine months ended September 30, 2018 was $3,954 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: Nine months ended September 30 2019 2018 Value of ordinary share $ 2.36-$3.83 $ 5.12-$5.99 Dividend yield 0 % 0 % Expected volatility 59.35%-61.4 % 62.1%-62.6 % Risk-free interest rate 1.42%-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: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Research and development expenses $ 1,127 $ 1,679 $ 389 $ 376 Selling, general and administrative 2,479 2,465 880 814 $ 3,606 $ 4,144 $ 1,269 $ 1,190

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 7 - COMMITMENTS Operating lease agreements The Company leases office space for its headquarters and research and development facilities in Israel and in 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 entered into a lease for the Additional Space following a period of preparation by the lessor completed during September 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 was considered a new lease agreement and was recognized only on the Commencement Date. 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 September 30, 2019 are as follows: Nine months ended September 30 Three months ended September 30 2019 2019 Office lease expenses $ 570 $ 176 Vehicles lease expenses $ 63 $ 30 Cash paid for amounts included in the measurement of lease liabilities are as follows: Nine months ended September 30 Three months ended September 30 2019 2019 Office lease $ 595 $ 206 Vehicles lease $ 104 $ 32 Supplemental information related to leases are as follows: September 30 2019 Operating lease right-of-use assets $ 1,947 Operating lease liabilities $ 2,006 Weighted average remaining lease term 2.13 Weighted average discount rate 5.72 % Maturities of lease liabilities are as follows: 2019 $ 296 2020 1,158 2021 455 2022 229 Total lease payments 2,138 Less imputed interest (132 ) Total lease liability $ 2,006 As of September 30, 2019, the Company had a lien in the amount of $143 on the Company’s marketable securities in respect of bank guarantees granted in order to secure the lease agreements. 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 DISCLOSURE_

ENTITY-WIDE DISCLOSURE:	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
ENTITY-WIDE DISCLOSURE:	NOTE 8 - ENTITY-WIDE DISCLOSURE a. Net revenues by geographic area were as follows: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 United States $ - $ 62 $ - $ - Denmark 308 205 - 205 Germany - 2,468 - 660 Total revenues $ 308 $ 2,735 $ - $ 865 b. Customers exceeding 10% of revenues: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Customer A $ - $ 2,468 $ - $ 660 Customer B $ 308 $ 205 $ - $ 205 c. Net revenues by type of payment: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Development service payments $ - $ 62 $ - $ - Royalties 308 2,673 - 865 Total revenues $ 308 $ 2,735 $ - $ 865

SUBSEQUENT EVENTS_

SUBSEQUENT EVENTS:	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS:	NOTE 9 – SUBSEQUENT EVENTS On November 10, 2019, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Menlo Therapeutics, Inc. ("Menlo") and Foamix Merger Subsidiary Ltd. (“Merger Sub”), a direct and wholly-owned subsidiary of Menlo. Under the terms of the agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Menlo. The merger will take place via a share exchange, with each Foamix ordinary share exchanged for a number of shares of Menlo common stock. At the effective time of the Merger (the “Effective Time”), each ordinary share, par value NIS 0.16 per share, of Foamix (“Foamix Shares”) issued and outstanding immediately prior to the Effective Time will be deemed transferred under Israeli law to Menlo in exchange for the right to receive (i) 0.5924 shares (the “Exchange Ratio”) of common stock of Menlo (“Menlo Common Stock”) and (ii) one contingent stock right (a “CSR”, which will be issued under the terms and conditions of a contingent stock rights agreement; all CSRs to be issued as Merger Consideration, the “CSRs”) The CSRs will be subject to adjustment prior to the Effective Time based on the outcome and timing of the top-line primary endpoint results of one or both the Phase III double-blinded, placebo-controlled trials for the treatment of pruritus associated with prurigo nodularis, referenced by Protocol Numbers MTI-105 (United States) and MTI-106 (Europe). The consummation of the Merger is subject to customary closing conditions.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES: (Policies)	9 Months Ended
	Sep. 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, restricted share units (“RSUs”), warrant and incremental share to be issued under the employee share purchase plan (“ESPP”) 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 months ended September 30 Three months ended September 30 2019 2018 2019 2018 Outstanding share options, RSUs and shares under the ESPP 6,055,554 4,680,521 6,380,647 4,874,889 Warrants 253,846 715,158 761,538 -
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)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of anti-dilutive securities	The following average share options, restricted share units (“RSUs”), warrant and incremental share to be issued under the employee share purchase plan (“ESPP”) 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 months ended September 30 Three months ended September 30 2019 2018 2019 2018 Outstanding share options, RSUs and shares under the ESPP 6,055,554 4,680,521 6,380,647 4,874,889 Warrants 253,846 715,158 761,538 -

FAIR VALUE PRESENTATION (Tables

FAIR VALUE PRESENTATION (Tables)	9 Months Ended
	Sep. 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 September 30, 2019 and December 31, 2018 are classified in the tables below in one of the three categories described in Note 2b above: September 30, 2019 Level 1 Level 2 Total Marketable securities $ 1,016 $ 14,748 $ 15,764 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)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	T September 30 December 31 2019 2018 Israeli mutual funds $ 1,016 $ 991 Certificates of deposit 805 2,773 U.S Government bonds 4,010 25,215 U.S Treasury bills 9,933 18,241 Total $ 15,764 $ 47,220
Schedule of the fair value, cost and gross unrealized holding gains of the securities owned	As of September 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: September 30, 2019 Fair Cost or amortized cost Gross unrealized Gross unrealized value holding losses holding gains Certificates of deposit $ 805 $ 805 $ - * $ - * U.S Government bonds 4,010 4,010 - * - * U.S Treasury bills 9,933 9,932 - * 1 Total $ 14,748 $ 14,747 $ - $ 1 * Represents amounts less than $1. December 31, 2018 Fair Cost or amortized cost Gross unrealized Gross unrealized value holding loss 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 September 30, 2019 and December 31, 2018, the Company’s debt securities had the following maturity dates: Market value September 30, December 31, 2019 2018 Due within one year $ 14,748 $ 46,079 1 to 2 years - 150 Total $ 14,748 $ 46,229

SHARE CAPITAL_ (Tables)

SHARE CAPITAL: (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of options and RSUs granted to employees, directors and non-employees	In the nine months ended September 30, 2019 and 2018, the Company granted options and RSUs as follows: Nine months ended September 30, 2019 Award amount Exercise price range Vesting period Expiration Employees: Options 1,180,736 $ 2.36-$3.81 4 years 10 year RSUs 284,628 - 4 years - Directors: Options 247,060 $ 2.66 1 year 10 year RSUs 140,976 - 1 year - 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 -
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: Nine months ended September 30 2019 2018 Value of ordinary share $ 2.36-$3.83 $ 5.12-$5.99 Dividend yield 0 % 0 % Expected volatility 59.35%-61.4 % 62.1%-62.6 % Risk-free interest rate 1.42%-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: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Research and development expenses $ 1,127 $ 1,679 $ 389 $ 376 Selling, general and administrative 2,479 2,465 880 814 $ 3,606 $ 4,144 $ 1,269 $ 1,190

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating lease expense	Operating lease costs for the three months ended September 30, 2019 are as follows: Nine months ended September 30 Three months ended September 30 2019 2019 Office lease expenses $ 570 $ 176 Vehicles lease expenses $ 63 $ 30
Schedule of Cash Paid for Lease Liabilities	Cash paid for amounts included in the measurement of lease liabilities are as follows: Nine months ended September 30 Three months ended September 30 2019 2019 Office lease $ 595 $ 206 Vehicles lease $ 104 $ 32
Schedule of Supplemental Information Related to Leases	Supplemental information related to leases are as follows: September 30 2019 Operating lease right-of-use assets $ 1,947 Operating lease liabilities $ 2,006 Weighted average remaining lease term 2.13 Weighted average discount rate 5.72
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: 2019 $ 296 2020 1,158 2021 455 2022 229 Total lease payments 2,138 Less imputed interest (132 ) Total lease liability $ 2,006
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 DISCLOSURE_ (Tables

ENTITY-WIDE DISCLOSURE: (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of net revenues by geographic area	a. Net revenues by geographic area were as follows: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 United States $ - $ 62 $ - $ - Denmark 308 205 - 205 Germany - 2,468 - 660 Total revenues $ 308 $ 2,735 $ - $ 865
Schedule of Net Revenues by Payment Type	c. Net revenues by type of payment: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Development service payments $ - $ 62 $ - $ - Royalties 308 2,673 - 865 Total revenues $ 308 $ 2,735 $ - $ 865

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION: (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 215,409	$ 272,767
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 02, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Lease assets and lease liabilities					$ 1,357
Options, RSUs and shares under ESPP [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	6,380,647	4,874,889	6,055,554	4,680,521
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	761,538		253,846	715,158

FAIR VALUE PRESENTATION (Schedu

FAIR VALUE PRESENTATION (Schedule of Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 15,764	$ 47,220
Currency options designated as hedging instruments (current liability)		(3)
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	1,016	991
Currency options designated as hedging instruments (current liability)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 14,748	46,229
Currency options designated as hedging instruments (current liability)		$ (3)

FAIR VALUE PRESENTATION (Narrat

FAIR VALUE PRESENTATION (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
FAIR VALUE MEASURMENTS [Abstract]
Currency hedging transactions, maximum term	1 year
Foreign exchange risk lien on marketable securities for bank guarantees granted to secure hedging transactions	$ 288
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, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 15,764	$ 47,220
Israeli mutual funds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	1,016	991
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	805	2,773
U.S Government bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	4,010	25,215
U.S Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 9,933	$ 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	Sep. 30, 2019		Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value	$ 15,764		$ 47,220
Cost or amortized cost	14,747		46,269
Gross unrealized holding losses		[1]	42
Gross unrealized holding gains	1		2
Certificates of deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	805		2,773
Cost or amortized cost	805		2,790
Gross unrealized holding losses		[1]	17
Gross unrealized holding gains		[1]
U.S Government bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	4,010		25,215
Cost or amortized cost	4,010		25,236
Gross unrealized holding losses		[1]	22
Gross unrealized holding gains		[1]	1
U.S Treasury bills [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value	9,933		18,241
Cost or amortized cost	9,932		18,243
Gross unrealized holding losses		[1]	3
Gross unrealized holding gains	$ 1		$ 1
[1]	Represents amounts less than $1.

MARKETABLE SECURITIES (Schedu_3

MARKETABLE SECURITIES (Schedule of Maturity Dates of Debt Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 14,748	$ 46,079
1 to 2 years		150
Total	$ 14,748	$ 46,229

MARKETABLE SECURITIES (Narrativ

MARKETABLE SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Secondary Offering [Member]
Proceeds from sale and maturity of marketable securities	$ 45,673	$ 25,548
Marketable securities restricted	$ 431		$ 401
Adjustment in accumulated deficit		$ 35

LONG-TERM DEBT_ (Narrative) (De

LONG-TERM DEBT: (Narrative) (Details)	1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 29, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)shares	Sep. 30, 2019USD ($)shares	Sep. 30, 2019₪ / shares	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 | shares		135,000,000	135,000,000		90,000,000	90,000,000
Debt instrument face amount	$ 50,000,000
Maturity date	Jul. 29, 2024
Interest rate	8.25%
Fee amount	1.00%
Credit Agreement covenant description			The Credit Agreement contains certain financial covenants, including that the Company (1) at all times prior to FDA approval of AMZEEQ maintain a minimum aggregate cash balance of $15 million; (2) at all times on or after the date of FDA approval of AMZEEQ 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 September 30, 2024.
Warrants issued to purchase ordinary shares | shares	1,100,000
Exercise price | $ / shares	$ 2.09
Warrants expiration date	Jul. 29, 2026
Shares issued during the period, value		$ 15,011,000	$ 15,011,000
Offering expenses		1,090,000	1,090,000
Fair value of debt		15,100,000	15,100,000
Interest cost		289,000
Discount cost		40,000	40,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest rate	2.75%
Securities Purchase Agreement with one of shareholders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued price per share | $ / shares	$ 2.14
Shares issued during the period, value	$ 14,000,000
Tranche 1 Loan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Credit Agreement amount outstanding		$ 15,000,000	$ 15,000,000
Tranche 2 Loan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument face amount	20,000,000
Tranche 3 Loan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument face amount	$ 15,000,000

SHARE CAPITAL_ (Narrative) (Det

SHARE CAPITAL: (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 29, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)	Sep. 30, 2019₪ / shares	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 | shares		135,000,000		135,000,000			90,000,000	90,000,000
Maturity date	Jul. 29, 2024
Interest rate	8.25%
Fee amount	1.00%
Revenue received			$ 865	$ 308	$ 2,735
Warrants issued to purchase ordinary shares | shares	1,100,000
Exercise price | $ / shares	$ 2.09
Warrants expiration date	Jul. 29, 2026
Shares issued during the period, value		15,011		15,011
Offering expenses		1,090		1,090
Fair value of debt		15,100		15,100
Interest cost		289
Discount cost		$ 40		40
Proceeds from issuance from secondary offering					75,348
Securities Purchase Agreement with one of shareholders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during the period | shares	6,542,057
Shares issued price per share | $ / shares	$ 2.14
Shares issued during the period, value	$ 14,000
Proceeds from issuance from secondary offering	$ 286
New equity incentive plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant | shares		5,373,741		5,373,741
Number of shares authorized under the plan | shares							6,027,990
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant | shares		5,400,000		5,400,000
Rate of ordinary shares for qualified employees							85.00%
Maximum percentage of earnings used to purchase shares							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 | shares							135,000,000
Share options [Member] | Employees and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options granted				$ 3,954	$ 3,287
Ordinary shares [Member] | Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maturity date				Jul. 29, 2026
Warrants issued to purchase ordinary shares | shares		1,100,000		1,100,000

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, 2019	Sep. 30, 2018
Share options [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award amount	1,180,736	571,530
Exercise price range, minimum	$ 2.36	$ 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	247,628	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	284,628	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	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility, minimum	59.50%	61.10%
Expected volatility, maximum	61.40%	62.60%
Risk-free interest rate, minimum	1.42%	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	$ 2.36	$ 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 1,269	$ 1,190	$ 3,606	$ 4,144
Research and development expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	389	376	1,127	1,679
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 880	$ 814	$ 2,479	$ 2,465

COMMITMENTS (Schedule of Operat

COMMITMENTS (Schedule of Operating lease expense) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Additional right of use asset and liability recognized on Current Space		$ 713
Office Building [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 176	570
Vehicle [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 30	$ 63

COMMITMENTS (Schedule of Cash p

COMMITMENTS (Schedule of Cash paid for lease liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Office lease	$ 206	$ 595
Vehicles lease	$ 32	$ 104

COMMITMENTS (Schedule of Supple

COMMITMENTS (Schedule of Supplemental Information Related to Leases) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use assets	$ 1,947
Operating lease liabilities	$ 2,006
Weighted average remaining lease term	2 years 1 month 16 days
Weighted average discount rate	5.72%

COMMITMENTS (Schedule of Maturi

COMMITMENTS (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
2019	$ 296
2020	1,158
2021	455
2022	229
Total	2,138
Less imputed interest	(132)
Total lease liability	2,006
Restricted investments in marketable securities	$ 143	$ 133

COMMITMENTS (Schedule of Future

COMMITMENTS (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 746
2020	682
2021 and thereafter	21
Total	$ 1,449

ENTITY-WIDE DISCLOSURE_ (Schedu

ENTITY-WIDE DISCLOSURE: (Schedule of Net Revenues by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 865	$ 308	$ 2,735
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		205	308	205
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 660		$ 2,468

ENTITY-WIDE DISCLOSURE_ (Sche_2

ENTITY-WIDE DISCLOSURE: (Schedule of Revenues From Principal Customers) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue, Major Customer [Line Items]
Total revenues		$ 865	$ 308	$ 2,735
Customers [Member] | Revenue [Member] | Customer A [Member]
Revenue, Major Customer [Line Items]
Total revenues		660		2,468
Customers [Member] | Revenue [Member] | Customer B [Member]
Revenue, Major Customer [Line Items]
Total revenues		$ 205	$ 308	$ 205

ENTITY-WIDE DISCLOSURE_ (Sche_3

ENTITY-WIDE DISCLOSURE: (Schedule of Net Revenues by Payment Type) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue, Major Customer [Line Items]
Total revenues		$ 865	$ 308	$ 2,735
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		$ 865	$ 308	$ 2,673

SUBSEQUENT EVENTS_ (Details)

SUBSEQUENT EVENTS: (Details) - ₪ / shares	Nov. 10, 2019	Sep. 30, 2019	Apr. 10, 2019	Dec. 31, 2018
Ordinary shares, par value (in NIS per share)		₪ 0.16	₪ 0.16	₪ 0.16
Subsequent Event [Member]
Ordinary shares, par value (in NIS per share)	₪ 0.16
Exchange ratio in merger share exchange	0.5924