ReWalk Robotics (LFWD) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	ReWalk Robotics Ltd.
Entity Central Index Key	1,607,962
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding (in shares)		22,066,352
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 12,928	$ 23,678
Trade receivable, net	1,265	1,254
Prepaid expenses and other current assets	1,703	1,291
Inventory	3,500	3,264
Total current assets	19,396	29,487
LONG-TERM ASSETS
Other long term assets	1,182	1,018
Property and equipment, net	906	1,258
Total long-term assets	2,088	2,276
Total assets	21,484	31,763
CURRENT LIABILITIES
Current maturities of long term loan	5,663	7,495
Trade payables	2,426	3,424
Employees and payroll accruals	858	1,019
Deferred revenues and customers advances	133	54
Other current liabilities	537	406
Total current liabilities	9,617	12,398
LONG-TERM LIABILITIES
Long term loan, net of current maturities	10,003	10,518
Deferred revenues	250	284
Other long-term liabilities	274	303
Total long-term liabilities	10,527	11,105
Total liabilities	20,144	23,503
COMMITMENTS AND CONTINGENT LIABILITIES
Share capital
Ordinary shares, par value NIS 0.01 per share-Authorized: 250,000,000 shares at September 30, 2017 and December 31, 2016; Issued and outstanding: 21,823,771 and 16,338,257 shares at September 30, 2017 and December 31, 2016, respectively	60	45
Additional paid-in capital	126,338	114,707
Accumulated deficit	(125,058)	(106,492)
Total shareholders’ equity	1,340	8,260
Total liabilities and shareholders’ equity	$ 21,484	$ 31,763

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Ordinary shares, par value (in ILS per share)	₪ 0.01	₪ 0.01
Ordinary shares, shares authorized (in shares)	250,000,000	250,000,000
Ordinary shares, shares issued (in shares)	21,823,771	16,338,257
Ordinary shares, shares outstanding (in shares)	21,823,771	16,338,257

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 1,732	$ 1,400	$ 6,238	$ 4,278
Cost of revenues	1,024	1,110	3,740	3,410
Gross profit	708	290	2,498	868
Operating expenses:
Research and development, net	1,618	1,968	4,433	6,737
Sales and marketing	2,637	3,774	8,643	10,577
General and administrative	1,805	1,951	5,796	5,960
Total operating expenses	6,060	7,693	18,872	23,274
Operating loss	(5,352)	(7,403)	(16,374)	(22,406)
Loss on extinguishment of debt	0	0	313	0
Financial expenses, net	479	508	1,843	1,514
Loss before income taxes	(5,831)	(7,911)	(18,530)	(23,920)
Income taxes	15	9	25	39
Net loss	$ (5,846)	$ (7,920)	$ (18,555)	$ (23,959)
Net loss per ordinary share, basic and diluted (in USD per share)	$ (0.27)	$ (0.62)	$ (1)	$ (1.92)
Weighted average number of shares used in computing net loss per ordinary share, basic and diluted (in shares)	21,660,757	12,759,887	18,463,444	12,495,433

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Ordinary Share		Additional paid-in capital	Accumulated deficit	ATM Offering Program	ATM Offering ProgramOrdinary Share	ATM Offering ProgramAdditional paid-in capital	Follow On Public Offering	Follow On Public OfferingOrdinary Share	Follow On Public OfferingAdditional paid-in capital
Beginning Balance at Dec. 31, 2015		$ 20,920	$ 33		$ 94,876	$ (73,989)
Beginning Balance (in shares) at Dec. 31, 2015			12,222,583
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation to employees and non-employees		3,398			3,398
Issuance of ordinary shares upon exercise of options to purchase ordinary shares and RSUs by employees and non-employees		18	$ 1		17
Issuance of ordinary shares upon exercise of options to purchase ordinary shares and RSUs by employee and non-employees (in shares)			128,496
Issuance of ordinary shares and warrants in an offering, net of issuance expenses							$ 4,099	$ 2	$ 4,097	$ 11,089	$ 9	$ 11,080
Issuance of ordinary shares and warrants in an offering, net of issuance expenses (in shares)								692,062			3,250,000
Issuance of warrants to purchase ordinary shares		1,239			1,239
Cashless exercise of warrants into ordinary shares (in shares)			45,116
Net loss		(32,503)				(32,503)
Ending Balance (in shares) at Dec. 31, 2016			16,338,257
Ending Balance at Dec. 31, 2016		8,260	$ 45		114,707	(106,492)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect to stock based compensation from adoption of a new accounting standard		0			11	(11)
Share-based compensation to employees and non-employees		2,597			2,597
Issuance of ordinary shares upon exercise of options to purchase ordinary shares and RSUs by employees and non-employees	[1]	$ 28			28
Issuance of ordinary shares upon exercise of options to purchase ordinary shares and RSUs by employee and non-employees (in shares)		87,795	105,606	[1]
Issuance of ordinary shares and warrants in an offering, net of issuance expenses	[2]						$ 9,010	$ 15	$ 8,995
Issuance of ordinary shares and warrants in an offering, net of issuance expenses (in shares)	[2]							5,379,908
Net loss		$ (18,555)
Ending Balance (in shares) at Sep. 30, 2017			21,823,771
Ending Balance at Sep. 30, 2017		$ 1,340	$ 60		$ 126,338	$ (125,058)
[1]	(1) See Note 8b to the condensed consolidated financial statements
[2]	(2) See Note 8e to the condensed consolidated financial statements

CONDENSED STATEMENTS OF CHANGE6

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
ATM Offering Program | Ordinary Share
Issuance costs	$ 468
Follow On Public Offering | Ordinary Share
Issuance costs	$ 1,099

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss		$ (18,555)	$ (23,959)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		516	503
Share-based compensation to employees and non- employees		2,597	2,458
Deferred taxes		(20)	(64)
Loss on extinguishment of debt		313	0
Financial expenses related to long term loan		87	495
Changes in assets and liabilities:
Trade receivables, net		(11)	1,202
Prepaid expenses and other current and long term assets		(556)	(804)
Inventories		(381)	(1,004)
Trade payables		(1,048)	960
Employees and payroll accruals		(161)	(285)
Deferred revenues and advances from customers		45	116
Other current and long term liabilities		102	182
Net cash used in operating activities		(17,072)	(20,200)
Cash flows from investing activities:
Purchase of property and equipment		(19)	(408)
Net cash used in investing activities		(19)	(408)
Cash flows from financing activities:
Issuance of ordinary shares upon exercise of options to purchase ordinary shares by employees and non-employees		28	23
Proceeds from long term loan		0	12,000
Debt issuance cost		0	(441)
Repayment of long term loan		(2,747)	(554)
Issuance of ordinary shares in at-the-market offering, net of issuance expenses paid in the amount of 389$	[1]	9,060	4,110
Net cash provided by financing activities		6,341	15,138
Decrease in cash and cash equivalents		(10,750)	(5,470)
Cash and cash equivalents at beginning of period		23,678	17,869
Cash and cash equivalents at end of period		12,928	12,399
Supplemental disclosures of non-cash flow information
At-the-market offering expenses not yet paid		50	11
Classification of inventory to property and equipment, net		$ 145	$ 113
[1]	(1) See Note 8e to the condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Statement of Cash Flows [Abstract]
Issuance expenses	$ 389

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL a. ReWalk Robotics Ltd. (“RRL”, and together with its subsidiaries, the “Company”) was incorporated under the laws of the State of Israel on June 20, 2001 and commenced operations on the same date. b. RRL has two wholly-owned subsidiaries: (i) ReWalk Robotics Inc., incorporated under the laws of Delaware on February 15, 2012; and (ii) ReWalk Robotics GMBH. incorporated under the laws of Germany on January 14, 2013. c. During the nine months ended September 30, 2017 , the Company issued and sold 5,379,908 ordinary shares at an average price of $1.76 per share under its ATM Offering Program (as defined in Note 8e). The gross proceeds to the Company were $9.4 million , and the net aggregate proceeds after deducting commissions, fees and offering expenses in the amount of $439 thousand were $9.0 million . As a result, from the inception of the ATM Offering Program in May 2016 until September 30, 2017 , the Company has issued and sold 6,071,970 ordinary shares at an average price of $2.31 per share under its ATM Offering Program, with gross proceeds of $14.0 million , and net aggregate proceeds of $13.1 million after deducting commissions, fees and offering expenses in the amount of $907 thousand . The Company may raise up to $25 million under its ATM Offering Program pursuant to the terms of its agreement with the sales agent. However, due to limitations under the rules of Form S-3, which have applied to the Company since it filed its annual report on Form 10-K for the fiscal year ended December 31, 2016 on February 17, 2017, taking into account ordinary shares issued and settled under the Company’s ATM Offering Program since February 17, 2017, as of September 30, 2017 , the Company may issue up to $4.3 million in primary offerings under its effective shelf registration statement on Form S-3 (File No. 333- 209833) (the “Form S-3”), including its ATM Offering Program, during the 12 months following February 17, 2017, unless and until it is no longer subject to such limitations. See Note 8e for more information about the Company’s ATM Offering Program and the related limitations under its Form S-3. d. The Company depends on one contract manufacturer. Reliance on this vendor makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields and costs. This vendor accounted for 0% and 12% of the Company's total trade payables as of September 30, 2017 and December 31, 2016 , respectively. e. On January 9, 2017, the Company announced its plan to reduce total operating expenses in 2017 by up to 30% as compared to 2016. The Company has been working toward such reductions through a combination of targeted savings, including by establishing quality improvement initiatives and lowering overall product cost, realigning the Company’s staffing priorities and reducing the size of its staff, including its reimbursement personnel, reducing spending on external appeals, and lowering other corporate spending. f. The Company had an accumulated deficit in the total amount of $125.1 million as of September 30, 2017 and further losses are anticipated in the development of its business. Those factors raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. The Company intends to finance operating costs over the next twelve months with existing cash on hand, reductions in operating spend, issuances under the Company's ATM Offering Program or other future issuances of equity and debt securities, or through a combination of the foregoing. However, the Company will need to seek additional sources of financing if the Company require more funds than anticipated during the next 12 months or in later periods. The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and liabilities and commitments in the normal course of business. The condensed consolidated financial statements for the three and nine months ended September 30, 2017 do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from uncertainty related to the Company’s ability to continue as a going concern.

UNAUDITED INTERIM CONDENSED CON

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and standards of the Public Company Accounting Oversight Board for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's (i) consolidated financial position as of September 30, 2017 , (ii) consolidated results of operations for the three and nine months ended September 30, 2017 and (iii) consolidated cash flows for the nine months ended September 30, 2017 . The results for the three and nine months periods ended September 30, 2017 , as applicable, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES a. The significant accounting policies applied in the audited consolidated financial statements of the Company as disclosed in the Company's annual report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 17, 2017, as amended on Form 10-K/A filed with the SEC on April 27, 2017 (the “2016 Form 10-K”), are applied consistently in these unaudited interim condensed consolidated financial statements. b. Recent Accounting Pronouncements: Recently Implemented Accounting Pronouncements Inventory - In July 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-11, “Simplifying the Measurement of Inventory.” The standard changes the inventory valuation method from the lower of cost or market to the lower of cost or net realizable value for inventory valued under the first-in, first-out or average cost methods. This standard is effective for fiscal years beginning after December 15, 2016, including interim periods and requires prospective adoption with early adoption permitted. The update was effective for the Company beginning January 1, 2017. The adoption of this standard did not materially impact the Company's financial statements. Deferred Taxes - In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes", which simplifies the presentation of deferred income taxes. ASU 2015-17 provides presentation requirements to classify deferred tax assets and liabilities, along with any related valuation allowance, as noncurrent on the balance sheet. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. The Company elected to implement this ASU-2015-17 prospectively. The update was effective for the Company beginning January 1, 2017. The adoption of this standard did not materially impact the Company's financial statements. Recent Accounting Pronouncements Not Yet Adopted Revenues - In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance, including industry-specific guidance. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers in an amount that the entity expects to be entitled to in exchange for those goods or services. The standard provides a five-step model to determine when and how revenue is recognized. Other major provisions of the standard include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The standard also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance permits two methods of adoption: the full retrospective method, in which case the standard would be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown, or the modified retrospective transition method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. The Company has substantially completed its evaluation of significant contracts and the review of its current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to the Company’s revenue contracts. In addition, the Company is in the process of identifying the appropriate changes to business processes, systems and controls to support recognition and disclosure under the new standard. While a final decision has not been made, the Company expects to adopt the new revenue standard in the first quarter of 2018 applying the modified retrospective transition method. The Company does not expect the adoption of the new revenue standard to have a material impact on the amount and timing of revenue recognized in the Company's consolidated financial statements. Leases - In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current generally accepted accounting principles, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. This ASU requires additional disclosures. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within those fiscal years. The ASU requires adoption based upon a modified retrospective transition approach. Early adoption is permitted. The Company has not yet determined whether it will elect early adoption and is currently evaluating the impact of the pending adoption of this ASU on the Company's consolidated financial statements and related disclosures. Statement of Cash Flow s - In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts and Cash Payments.” The standard addresses several matters of diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including the presentation of debt extinguishment costs and distributions received from equity method investments. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods and allows for retrospective adoption with early adoption permitted. The Company has chosen not to adopt this standard early, and does not expect the adoption of the standard to have a material impact on the Company's consolidated financial statements. Statement of Cash Flows - On November 17, 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force).” This ASU requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents are to be included with cash and cash equivalents when reconciling the beginning of period and end of period amounts shown on the statement of cash flows. ASU No. 2016-18 will be effective for the Company as of January 1, 2018. The Company does not expect the adoption of this ASU to have a material impact on the Company's consolidated financial statements. Share Based Compensation - On May 10, 2017, the FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting.” This ASU clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. Entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. They will have to make all of the disclosures about modifications that are required today, in addition to disclosing that compensation expense has not changed, to the extent applicable. The ASU also clarifies that a modification to an award could be significant and therefore require disclosure, even if modification accounting is not required. ASU No. 2017-09 will be effective for fiscal years beginning after December 15, 2017. Early adoption is permitted, including in any interim period for which financial statements have not yet been issued or made available for issuance. The ASU will be applied prospectively to awards modified on or after the adoption date. The Company is currently evaluating the impact of the pending adoption of this ASU on its consolidated financial statements and related disclosures. c. Concentrations of Credit Risks: Concentration of credit risk with respect to trade receivable is primarily limited to a customer to which the Company makes substantial sales. One customer represented 12.7% and 0% of the Company's trade receivable, net balance as of September 30, 2017 and December 31, 2016 , respectively. A second customer represented 12.3% and 4.9% of the Company's trade receivable, net balance as of September 30, 2017 and December 31, 2016 , respectively. Trade receivables are presented net of allowance for doubtful accounts in the amount of $ 125 thousand and $ 333 thousand , respectively and net of sales return reserve of $ 105 thousand as of September 30, 2017 and December 31, 2016 . d. Warranty provision The Company provides a two -year standard warranty for its products. The Company records a provision for the estimated cost to repair or replace products under warranty at the time of sale. Factors that affect the Company’s warranty reserve include the number of units sold, historical and anticipated rates of warranty repairs and the cost per repair. US Dollars in thousands Balance at December 31, 2016 $ 498 Provision 311 Usage (275 ) Balance at September 30, 2017 $ 534

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY The components of inventory are as follows (in thousands): September 30, December 31, 2017 2016 Finished products 3,500 3,264 $ 3,500 $ 3,264

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES a. Purchase commitments: The Company has contractual obligations to purchase goods from its contract manufacturer, Sanmina Corporation. Purchase obligations do not include contracts that may be canceled without penalty. As of September 30, 2017 , non-cancelable outstanding obligations amounted to approximately $806 thousand . b. Royalties: The Company’s research and development efforts are financed, in part, through funding from the Israel Innovation Authority (the “IIA”) (formerly known as the Israeli Office of the Chief Scientist in the Israel Ministry of Economy). During the nine months ended September 30, 2017 the Company received $828 thousand from the IIA to fund its research and development efforts. Since the Company’s inception through September 30, 2017 , the Company received funding from the IIA in the total amount of $1.6 million . Out of the $1.6 million in funding from the IIA, a total amount of $1.2 million were royalty bearing grants (as of September 30, 2017 , the Company paid royalties to the IIA in the total amount of $50 thousand ), while a total amount of $400 thousand was received in consideration of 5,237 convertible preferred A shares, which converted after our initial public offering in September 2014 into ordinary shares in a conversion ratio of 1 to 1. The Company is obligated to pay royalties to the IIA, amounting to 3% - 3.5% of the sales of the products and other related revenues generated from such projects, up to 100% of the grants received. As of September 30, 2017 , the contingent liability to the IIA amounted to $1.1 million . c. Liens: As discussed in Note 6 to our audited consolidated financial statements included in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2016, filed with the SEC on February 17, 2017, as amended on Form 10-K/A filed with the SEC on April 27, 2017 (the “2016 Form 10-K”), the Company is party to the Loan Agreement with Kreos pursuant to which Kreos extended a $ 20 million line of credit to the Company. In connection with the Loan Agreement, the Company granted Kreos a first priority security interest over all of its assets, including intellectual property and equity interests in its subsidiaries, subject to certain permitted security interests. The Company's other long-term assets, which were in the amount of $850 thousand as of September 30, 2017 , have been pledged as security in respect of a guarantee granted to a third party . Such deposit cannot be pledged to others or withdrawn without the consent of such third party. d. Legal Claims: Occasionally the Company is involved in various claims, lawsuits, regulatory examinations, investigations and other legal matters arising, for the most part, in the ordinary course of business. The outcome of litigation and other legal matters is inherently uncertain. In making a determination regarding accruals, using available information, the Company evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which the Company is a party and records a loss contingency when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. Where the Company determines an unfavorable outcome is not probable or reasonably estimable, the Company does not accrue for any potential litigation loss. These subjective determinations are based on the status of such legal or regulatory proceedings, the merits of our defenses, and consultation with legal counsel. Actual outcomes of these legal and regulatory proceedings may materially differ from the Company’s current estimates. It is possible that resolution of one or more of the legal matters currently pending or threatened could result in losses material to the Company’s consolidated results of operations, liquidity or financial condition. As set forth below, between September 2016 and January 2017, eight substantially similar putative securities class actions were filed against the Company. Four of these actions have been dismissed on procedural grounds, one was voluntarily dismissed and three are pending, including two actions which have been consolidated and one action brought by the plaintiffs whose actions were dismissed. • Dismissed Actions: ◦ On September 20, November 3, November 9, and November 10, 2016, respectively, four putative class actions on behalf of alleged shareholders that purchased or acquired the Company's ordinary shares pursuant and/or traceable to the registration statement used in connection with the Company's IPO were commenced in the Superior Court of the State of California, County of San Mateo. The actions were filed against the Company, certain of the Company's current and former directors and officers, and the underwriters of the Company's IPO. We refer to these actions as the “California State Court Actions.” The complaints in the California State Court Actions asserted various claims under the Securities Act. Each of the California State Court Actions was dismissed for lack of personal jurisdiction in January 2017. ◦ On January 24, 2017, a substantially similar class action was commenced in the United States District Court for the Northern District of California (Case No. 4:17-cv-362) against the same defendants as in the California State Court Actions plus certain additional defendants. This action is referred to as the “California Federal Court Action.” On March 23, 2017, this case was voluntarily dismissed. • Pending Actions: ◦ On or about October 31, 2016, a class action with claims substantially similar to the California State Court Actions was commenced in the Massachusetts Superior Court, Suffolk County, by a different plaintiff (Civ. Action No. 16-3336), alleging claims under Section 11 of the Securities Act against the Company, certain of the Company's current and former directors and officers, and the underwriters of the Company's IPO, and alleging claims under Section 15 of the Securities Act against the Company and certain of the Company's current and former directors and officers. ◦ On or about November 30, 2016, a substantially similar class action was commenced in the Massachusetts Superior Court, Suffolk County, by a different plaintiff (Civ. Action No. 16-3670) alleging claims under Sections 11 and 15 of the Securities Act against the same defendants as in the action commenced on October 31, 2016, and also alleging claims under Section 12(a)(2) of the Securities Act against the Company, certain of the Company's current and former directors and officers, and the underwriters of the Company's IPO. This action was ordered consolidated in the Massachusetts Superior Court, Suffolk County on January 9, 2017 with the action commenced on October 31, 2016, and the two actions are referred to as the “Consolidated Massachusetts State Court Actions”. The plaintiffs in the Consolidated Massachusetts State Court Actions filed a consolidated amended complaint on March 20, 2017. The Company moved to dismiss the Consolidated Massachusetts State Court Actions on June 2, 2017. For more information, see Note 11 . ◦ On or about January 31, 2017, a substantially similar class action was commenced in the United States District Court for the District of Massachusetts (Case No. 1:17-cv-10169) by four of the same plaintiffs who commenced the California State Court Actions, and two additional plaintiffs, alleging claims under Sections 11 and 12(a)(2) of the Securities Act against the Company, certain of the Company's current and former directors and officers, and the underwriters of the Company's IPO, and alleging claims under Section 15 of the Securities Act against certain of the Company's current and former directors and officers. This action is referred to as the “Massachusetts Federal Court Action.” On July 6, 2017, the Company moved to stay the Massachusetts Federal Court Action. The plaintiffs in the Massachusetts Federal Court Action filed a consolidated amended complaint on August 9, 2017. For more information, see Note 11. The complaints in all of the actions listed above allege that the Company's registration statement used in connection with its IPO failed to disclose that the Company was unprepared or unable to comply with certain regulatory special controls and to provide the FDA with a postmarket surveillance study on the Company's ReWalk Personal device, and that, as a result of such alleged omission, the plaintiffs suffered damages. The Massachusetts Federal Court Action also alleges that certain statements issued by the Company after its IPO are materially misleading because they omitted certain information. The Company believes that the allegations made in the complaints are without merit and intends to defend itself vigorously against the complaints relating to the three pending actions. Based on information currently available and the early stage of the litigation, the Company is unable to reasonably estimate a possible loss or range of possible losses, if any, with regard to these lawsuits; therefore, no litigation reserve has been recorded in the Company's consolidated balance sheet as of September 30, 2017 . The Company will continue to evaluate information as it becomes known and will record an estimate for losses at the time or times when it is probable that a loss will be incurred and the amount of the loss is reasonably estimable.

LOAN AGREEMENT WITH KREOS AND R

LOAN AGREEMENT WITH KREOS AND RELATED WARRANT TO PURCHASE ORDINARY SHARES	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
LOAN AGREEMENT WITH KREOS AND RELATED WARRANT TO PURCHASE ORDINARY SHARES	LOAN AGREEMENT WITH KREOS AND RELATED WARRANT TO PURCHASE ORDINARY SHARES On December 30, 2015, the Company entered into the loan agreement (the "Loan Agreement") with Kreos Capital V (Expert Fund) Limited ("Kreos"), pursuant to which Kreos extended a line of credit to the Company in the amount of $20 million . For more information, see Note 6 to our audited consolidated financial statements included in our 2016 Form 10-K. On June 9, 2017, the Company and Kreos entered into the First Amendment of the Loan Agreement (the "Loan Amendment"). As of that date the outstanding principal amount under the Loan Agreement (the "Outstanding Principal Amount") was $17.2 million . Under the Loan Amendment $3 million of the Outstanding Principal Amount was extended by an additional 3 years with the same interest rate and became subject to repayment in accordance with, and subject to the terms of, a secured convertible promissory note (the "Kreos Convertible Note"). The Kreos Convertible Note may be converted into up to 2,523,660 ordinary shares of the Company at a fixed conversion price of $1.268 per share (subject to customary antidilution adjustments in connection with a share split, reverse share split, share dividend, combination, reclassification or otherwise), thus reducing the Outstanding Principal Amount by $ 3 million to $14.2 million . Kreos may convert the then-outstanding principal under the Kreos Convertible Note in whole or in part, in one or more occasions, at any time until the earlier of (i) the maturity date of June 9, 2020 or (ii) a "Change of Control", as defined in the Loan Agreement. In addition, at any time until the maturity date of June 9, 2020, Kreos has the right to convert the “end of loan payments” under the Loan Agreement, in whole or in part, into ordinary shares at a conversion price of $ 1.268 per share. Because the aggregate amount the Company drew down under the Loan Agreement equals $ 20 million and the total “end of loan payments” equal $ 200 thousand , Kreos has the right to convert up to 157,729 additional ordinary shares (subject to customary anti-dilution adjustments), making the total number of ordinary shares issuable upon conversion of the Kreos Convertible Note 2,523,660 (subject to customary anti-dilution adjustments). The Outstanding Principal Amount under the Loan Agreement is not convertible and remains subject to repayment in accordance with the terms and conditions of the Loan Agreement, provided that such amount shall be repaid by the Company in accordance with an amended repayment schedule. The Company concluded that the exchange of the $3 million for the convertible promissory note is not a troubled debt restructuring under applicable accounting guidance because the lenders did not grant a concession. The modification was analyzed under ASC 470 Debt to determine if extinguishment accounting was applicable. Under ASC 470-50-40-10 a modification or an exchange that adds or eliminates a substantive conversion option as of the conversion date is always considered substantial and requires extinguishment accounting. Since this modification added a substantive conversion option, extinguishment accounting is applicable. The difference between the fair value of the new debt with the pre-modification carrying amount of the old debt represented a loss on extinguishment in the amount of $313 thousand . According to the Loan Agreement the repayment period will be extended to 36 months if the Company raises $20 million or more in connection with the issuance of shares of its capital stock (including debt securities convertible into shares of the Company’s capital stock). As of June 30, 2017 the Company had raised more than $20 million and therefore the repayment period was extended by an additional 12 months to 36 months.

RESEARCH COLLABORATION AND LICE

RESEARCH COLLABORATION AND LICENSE AGREEMENT	9 Months Ended
	Sep. 30, 2017
Research and Development [Abstract]
RESEARCH COLLABORATION AGREEMENT AND LICENSE AGREEMENT	RESEARCH COLLABORATION AGREEMENT AND LICENSE AGREEMENT On May 16, 2016, the Company entered into a Research Collaboration Agreement (“Collaboration Agreement”) and an Exclusive License Agreement (“License Agreement”) with Harvard. Under the Collaboration Agreement, Harvard and the Company have agreed to collaborate on research regarding the development of lightweight “soft suit” exoskeleton system technologies for lower limb disabilities, which are intended to treat stroke, multiple sclerosis, mobility limitations for the elderly and other medical applications. The Company has committed to pay in quarterly installments for the funding of this research, subject to a minimum funding commitment under applicable circumstances. The Collaboration Agreement will expire on May 16, 2021. Under the License Agreement, Harvard has granted the Company an exclusive, worldwide royalty-bearing license under certain patents of Harvard relating to lightweight “soft suit” exoskeleton system technologies for lower limb disabilities, a royalty-free license under certain related know-how and the option to obtain a license under certain inventions conceived under the joint research collaboration. The License Agreement requires the Company to pay Harvard an upfront fee, reimbursements for expenses that Harvard incurred in connection with the licensed patents, royalties on net sales and several milestone payments contingent upon the achievement of certain product development and commercialization milestones. The License Agreement will continue in full force and effect until the expiration of the last-to-expire valid claim of the licensed patents. As of September 30, 2017 , the Company did not achieve any of these milestones, and is evaluating the likelihood that the milestones will be achieved on a quarterly basis. Moreover, s ince such royalties are dependent on future product sales which are neither determinable nor reasonably estimable, these royalty payments are not recorded on the Company's condensed consolidated balance sheet as of September 30, 2017 . The Company's total payment obligation under the Collaboration Agreement and the License Agreement is $ 6.3 million , some of which is subject to a minimum funding commitment under applicable circumstances as indicated above. The Company has recorded expenses in the amount of $465 thousand and $267 thousand during the three months period ended September 30, 2017 and September 30, 2016 respectively. The Company has recorded expenses in the amount of $1.2 million and $1.3 million during the nine months period ended September 30, 2017 and September 30, 2016 respectively. Those expenses are part of the total payment obligation indicated above, as research and development expenses related to the License Agreement and to the Collaboration Agreement.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY a. Share option plans: As of September 30, 2017 , and December 31, 2016 , the Company had reserved 602,158 a nd 380,153 ordinary shares, respectively, for issuance to the Company’s and its affiliates’ respective employees, directors, officers and consultants pursuant to equity awards granted under the Company's 2014 Incentive Compensation Plan (the “2014 Plan”). Options to purchase ordinary shares generally vest over four years, with certain options to non-employee directors vesting quarterly over one year. Any option that is forfeited or canceled before expiration becomes available for future grants under the 2014 Plan. The fair value for options granted during the nine months ended September 30, 2017 and September 30, 2016 was estimated at the date of the grant using a Black-Scholes-Merton option pricing model with the following assumptions: Nine Months Ended September 30, 2017 2016 Expected volatility 56% - 58% 53% - 60% Risk-free rate 1.78% - 2.07% 1.16%-1.60% Dividend yield —% —% Expected term (in years) 5.31-6.11 5.31-6.11 Share price $1.3- $2.1 $6.8- $11.88 The fair value of restricted share units (“RSUs”) granted is determined based on the price of the Company's ordinary shares on the date of grant. A summary of employee options to purchase ordinary shares and RSUs during the nine months ended September 30, 2017 is as follows: Nine Months Ended September 30, 2017 Number Average exercise price Average remaining contractual life (in years) (1) Aggregate intrinsic value (in thousands) Options and RSUs outstanding at the beginning of the period 2,251,014 $ 6.47 7.80 $ 1,740 Options granted 413,746 2.01 RSUs granted 230,484 — Options exercised (2) (30,192 ) 1.39 RSUs vested (2) (59,450 ) — RSUs forfeited (44,196 ) — Options forfeited (169,008 ) 2.99 Options and RSUs outstanding at the end of the period 2,592,398 $ 5.39 7.45 $ 578 Options exercisable at the end of the period 1,272,727 $ 6.12 6.46 $ 64 (1) Calculation of weighted average remaining contractual term does not include RSUs, which have an indefinite contractual term. (2) During the nine months period ended September 30, 2017 , the aggregate number of ordinary shares that were issued pursuant to RSUs that became vested and options that were exercised on a net basis was 87,795 ordinary shares. The weighted average grant date fair value of options granted during the nine months ended September 30, 2017 and September 30, 2016 was $1.10 and $4.75 , respectively. The weighted average grant date fair value of RSUs granted during the nine month period ended September 30, 2017 and September 30, 2016 was $2.01 and $9.28 , respectively. The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the option holders had all option holders that hold options with positive intrinsic value exercised their options on the last date of the exercise period. Total intrinsic value of options exercised for each of the nine months ended September 30, 2017 and September 30, 2016 was $29 thousand and $ 844 thousand respectively. As of September 30, 2017 , there were $5.1 million of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the Company's 2012 Equity Incentive Plan and its 2014 Plan. This cost is expected to be recognized over a period of approximately 2.1 years. The number of options and RSUs outstanding as of September 30, 2017 is set forth below, with options separated by range of exercise price. The below does not reflect the results of the Equity Exchange Program (as defined below) completed on October 5, 2017. Range of exercise price Options and RSUs outstanding as of September 30, 2017 Weighted average remaining contractual life (years) (1) Options exercisable as of September 30, 2017 Weighted average remaining contractual life (years) (1) RSUs only 353,437 — — — $0.82 31,803 3.29 31,803 3.29 $1.32 335,095 4.75 330,095 4.67 $1.47 - $2.20 762,937 8.07 338,830 6.35 $6.80- $8.99 663,382 8.09 322,536 7.96 $9.22- $10.98 201,343 8.42 75,586 8.10 $19.62-$20.97 244,401 7.17 173,877 7.15 2,592,398 7.45 1,272,727 6.46 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. On September 6, 2017, the Company commenced a one-time equity award exchange program (the “Equity Exchange Program”), offering to certain eligible employees, executive officers and consultants the opportunity to cancel certain outstanding “underwater” stock options issued under the 2014 Plan, in exchange for the grant under such plan of a lesser number of RSUs. The Company's non-employee directors and retirees were not eligible to participate in the Equity Exchange Program. The Company conducted the Equity Exchange Program as a “value-for-value” exchange, pursuant to which the Company issued new RSUs with a value approximately equal to the value of the options that are surrendered, in accordance with the terms approved by the Company’s shareholders at the annual meeting of shareholders held on June 27, 2017. The primary purpose of the Equity Exchange Program was to restore the intended retention and incentive value of certain employee and consultant equity awards. Participation in the Equity Exchange Program was voluntary. The Company used the 52-week high closing price of its ordinary shares (as measured at the commencement of the Equity Exchange Program) as a threshold for options eligible to be exchanged. For more information on the results of the Equity Exchange Program, see Note 11. b. Share-based awards to non-employee consultants: The Company granted 3,454 options to a non-employee consultant on March 12, 2007, which were exercised during the nine months ended September 30, 2017 . The Company granted 14,357 fully vested RSUs during the nine months ended September 30, 2017 to non-employee consultants. As of September 30, 2017 , there are no outstanding options or RSUs held by non-employee consultants. c. Warrants to purchase ordinary shares: The following table summarizes information about warrants outstanding and exercisable as of September 30, 2017 : Issuance date Warrants outstanding Exercise Warrants Contractual term (number) (number) July 14, 2014 (1) 403,804 $ 10.08 403,804 July 13, 2018 December 30, 2015 (2) 119,295 $ 9.64 119,295 See footnote (2) November 1, 2016 (3) 2,437,500 $ 4.75 2,437,500 November 1, 2021 December 28, 2016 (4) 47,717 $ 9.64 47,717 See footnote (4) 3,008,316 3,008,316 (1) Represents warrants to purchase ordinary shares at an exercise price of $10.08 per share, which were granted on July 14, 2014 as part of our series E investment round. (2) Represents a warrant to purchase ordinary shares at an exercise price of $9.64 per share, which was issued on December 31, 2015 to Kreos, in connection with a loan made by Kreos to us. The warrant is currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of us with or into, or the sale or license of all or substantially all the assets or shares of us to, any other entity or person, other than a wholly-owned subsidiary of us, excluding any transaction in which our shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of September 30, 2017 . (3) Represents warrants issued as part of our follow-on offering in November 2016. (4) Represents a warrant in the amount of 47,717 ordinary shares issued to Kreos as part of the $8.0 million drawdown under the Loan Agreement, which occurred on December 28, 2016. See footnote 2 above for exercisability terms. d. Share-based compensation expense for employees and non-employees: The Company recognized non-cash share-based compensation expense for both employees and non-employees in the consolidated statements of operations for the periods shown below as follows (in thousands): Nine Months Ended September 30, 2017 2016 Cost of revenues $ 57 $ 78 Research and development, net 344 398 Sales and marketing, net 585 606 General and administrative 1,611 1,376 Total $ 2,597 $ 2,458 e. At-the-market offering program: On May 10, 2016, the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Piper Jaffray, pursuant to which it may offer and sell, from time to time, ordinary shares having an aggregate offering price of up to $ 25 million , through Piper Jaffray acting as its agent. Subject to the terms and conditions of the Equity Distribution Agreement, Piper Jaffray will use its commercially reasonable efforts to sell on the Company’s behalf all of the ordinary shares requested to be sold by the Company, consistent with its normal trading and sales practices. Piper Jaffray may also act as principal in the sale of ordinary shares under the Equity Distribution Agreement. Sales may be made under the Company's Form S-3, in what may be deemed “at-the-market” equity offerings as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “ATM Offering Program”). Sales may be made directly on or through the NASDAQ Capital Market, the existing trading market for the Company's ordinary shares, to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or any other method permitted by law, including in privately negotiated transactions. Piper Jaffray is entitled to compensation at a fixed commission rate of 3.0% of the gross sales price per share sold through it as agent under the Equity Distribution Agreement. Where Piper Jaffray acts as principal in the sale of ordinary shares under the Equity Distribution Agreement, such rate of compensation will not apply, but in no event will the total compensation of Piper Jaffray, when combined with the reimbursement of Piper Jaffray for the out-of-pocket fees and disbursements of its legal counsel, exceed 8.0% of the gross proceeds received from the sale of the ordinary shares. The Company is not required to sell any of its ordinary shares at any time. The Company may raise up to $25 million under its ATM Offering Program pursuant to the terms of its agreement with the sales agent. However, due to limitations under the rules of Form S-3, which have applied to the Company since it filed its annual report on Form 10-K for the fiscal year ended December 31, 2016 on February 17, 2017, taking into account ordinary shares issued and settled under the Company’s ATM Offering Program since February 17, 2017, as of September 30, 2017 , the Company may issue up to $4.3 million in primary offerings under its effective shelf registration statement on Form S-3 (File No. 333- 209833), including its ATM Offering Program, during the 12 months following February 17, 2017, unless and until it is no longer subject to such limitations. During the nine months ended September 30, 2017 , the Company issued and sold 5,379,908 ordinary shares at an average price of $1.76 per share under its ATM Offering Program. The gross proceeds to the Company were $9.4 million , and the net aggregate proceeds after deducting commissions, fees and offering expenses in the amount of $439 thousand were $9.0 million . As a result, from the inception of the ATM Offering Program in May 2016 until September 30, 2017 , the Company had sold 6,071,970 ordinary shares under the ATM Offering Program for gross proceeds of $14.0 million and net proceeds to the Company of $13.1 million (after commissions, fees and expenses). Additionally, as of that date, the Company had paid Piper Jaffray compensation of $420 thousand and had incurred total expenses of approximately $907 thousand in connection with the ATM Offering Program.

FINANCIAL EXPENSES, NET

FINANCIAL EXPENSES, NET	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	FINANCIAL EXPENSES, NET The components of financial expenses, net were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transactions and other $ (37 ) $ 17 $ (113 ) $ 60 Financial expenses related to loan agreement with Kreos 510 495 1,932 1,462 Bank commissions 6 5 24 28 Income related to hedging transactions — (9 ) — (36 ) $ 479 $ 508 $ 1,843 $ 1,514

GEOGRAPHIC INFORMATION AND MAJO

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA	GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA Summary information about geographic areas : ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing the enterprise’s performance. The Company manages its business on the basis of one reportable segment, and derives revenues from selling systems and services (see Note 1 for a brief description of the Company’s business). The below is a summary of revenues within geographic areas (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Revenues based on customer’s location: Israel $ — $ — $ — $ — United States 801 710 4,242 2,976 Europe 931 404 1,996 908 Asia-Pacific — 286 — 394 Total revenues $ 1,732 $ 1,400 $ 6,238 $ 4,278 September 30, December 31, 2017 2016 Long-lived assets by geographic region (*): Israel $ 330 $ 476 United States 361 565 Germany 215 217 $ 906 $ 1,258 (*) Long-lived assets are comprised of property and equipment, net. Major customer data as a percentage of total revenues (in thousands): September 30, December 31, 2017 2016 Customer A 42.6 % 33.3 %

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS a. Legal claims: class action litigation (see Note 5d) As of November 1, 2017, there were three pending class action lawsuits against the Company and certain other defendants alleging claims under the Securities Act in connection with the Company’s registration statement used in its IPO, including the Consolidated Massachusetts State Court Actions and the Massachusetts Federal Court Action. These actions are further described above in Note 5d. • Consolidated Massachusetts State Court Actions: The court heard oral argument on the Company's’ motion to dismiss on October 16, 2017. • Massachusetts Federal Court Action: The court denied the Company's motion to stay and has set the time for the Company's motion to dismiss to November 10, 2017. b. Share option plans: Equity Exchange Program (see Note 8a) On the Equity Exchange Program’s expiration date of October 4, 2017, 46 holders tendered options to purchase an aggregate of 945,416 ordinary shares, representing 96.4% of all options eligible for exchange, and on October 5, 2017, the Company granted to these holders an aggregate of 251,872 new RSUs. 180,167 of these new RSUs were granted to the Company’s executive officers and “named executive officers” (as defined in Item 402 of Regulation S-K of the SEC). Unless the Company’s compensation committee accelerates their vesting, the new RSUs vest over a three -year period, with one-third vesting on the first anniversary of the date of grant and one-third vesting on each of the next two successive anniversaries. Additionally, the forfeiture terms of the new RSUs are substantially the same as those that apply generally to previously-granted RSUs granted under the 2014 Plan. The Equity Exchange Program is further described above in Note 8a. The stock options exchanged pursuant to the Exchange Program were canceled and the ordinary shares underlying such options became available for issuance under the 2014 Plan.

SIGNIFICANT ACCOUNTING POLICI20

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and standards of the Public Company Accounting Oversight Board for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's (i) consolidated financial position as of September 30, 2017 , (ii) consolidated results of operations for the three and nine months ended September 30, 2017 and (iii) consolidated cash flows for the nine months ended September 30, 2017 . The results for the three and nine months periods ended September 30, 2017 , as applicable, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: Recently Implemented Accounting Pronouncements Inventory - In July 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-11, “Simplifying the Measurement of Inventory.” The standard changes the inventory valuation method from the lower of cost or market to the lower of cost or net realizable value for inventory valued under the first-in, first-out or average cost methods. This standard is effective for fiscal years beginning after December 15, 2016, including interim periods and requires prospective adoption with early adoption permitted. The update was effective for the Company beginning January 1, 2017. The adoption of this standard did not materially impact the Company's financial statements. Deferred Taxes - In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes", which simplifies the presentation of deferred income taxes. ASU 2015-17 provides presentation requirements to classify deferred tax assets and liabilities, along with any related valuation allowance, as noncurrent on the balance sheet. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. The Company elected to implement this ASU-2015-17 prospectively. The update was effective for the Company beginning January 1, 2017. The adoption of this standard did not materially impact the Company's financial statements. Recent Accounting Pronouncements Not Yet Adopted Revenues - In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance, including industry-specific guidance. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers in an amount that the entity expects to be entitled to in exchange for those goods or services. The standard provides a five-step model to determine when and how revenue is recognized. Other major provisions of the standard include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The standard also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance permits two methods of adoption: the full retrospective method, in which case the standard would be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown, or the modified retrospective transition method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. The Company has substantially completed its evaluation of significant contracts and the review of its current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to the Company’s revenue contracts. In addition, the Company is in the process of identifying the appropriate changes to business processes, systems and controls to support recognition and disclosure under the new standard. While a final decision has not been made, the Company expects to adopt the new revenue standard in the first quarter of 2018 applying the modified retrospective transition method. The Company does not expect the adoption of the new revenue standard to have a material impact on the amount and timing of revenue recognized in the Company's consolidated financial statements. Leases - In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current generally accepted accounting principles, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. This ASU requires additional disclosures. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within those fiscal years. The ASU requires adoption based upon a modified retrospective transition approach. Early adoption is permitted. The Company has not yet determined whether it will elect early adoption and is currently evaluating the impact of the pending adoption of this ASU on the Company's consolidated financial statements and related disclosures. Statement of Cash Flow s - In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts and Cash Payments.” The standard addresses several matters of diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including the presentation of debt extinguishment costs and distributions received from equity method investments. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods and allows for retrospective adoption with early adoption permitted. The Company has chosen not to adopt this standard early, and does not expect the adoption of the standard to have a material impact on the Company's consolidated financial statements. Statement of Cash Flows - On November 17, 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force).” This ASU requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents are to be included with cash and cash equivalents when reconciling the beginning of period and end of period amounts shown on the statement of cash flows. ASU No. 2016-18 will be effective for the Company as of January 1, 2018. The Company does not expect the adoption of this ASU to have a material impact on the Company's consolidated financial statements. Share Based Compensation - On May 10, 2017, the FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting.” This ASU clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. Entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. They will have to make all of the disclosures about modifications that are required today, in addition to disclosing that compensation expense has not changed, to the extent applicable. The ASU also clarifies that a modification to an award could be significant and therefore require disclosure, even if modification accounting is not required. ASU No. 2017-09 will be effective for fiscal years beginning after December 15, 2017. Early adoption is permitted, including in any interim period for which financial statements have not yet been issued or made available for issuance. The ASU will be applied prospectively to awards modified on or after the adoption date. The Company is currently evaluating the impact of the pending adoption of this ASU on its consolidated financial statements and related disclosures.
Concentrations of Credit Risks	Concentrations of Credit Risks: Concentration of credit risk with respect to trade receivable is primarily limited to a customer to which the Company makes substantial sales. One customer represented 12.7% and 0% of the Company's trade receivable, net balance as of September 30, 2017 and December 31, 2016 , respectively. A second customer represented 12.3% and 4.9% of the Company's trade receivable, net balance a
Warranty	Warranty provision The Company provides a two -year standard warranty for its products. The Company records a provision for the estimated cost to repair or replace products under warranty at the time of sale. Factors that affect the Company’s warranty reserve include the number of units sold, historical and anticipated rates of warranty repairs and the cost per repair.

SIGNIFICANT ACCOUNTING POLICI21

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of product warranty liability	US Dollars in thousands Balance at December 31, 2016 $ 498 Provision 311 Usage (275 ) Balance at September 30, 2017 $ 534

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of inventories	The components of inventory are as follows (in thousands): September 30, December 31, 2017 2016 Finished products 3,500 3,264 $ 3,500 $ 3,264

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option valuation assumptions	The fair value for options granted during the nine months ended September 30, 2017 and September 30, 2016 was estimated at the date of the grant using a Black-Scholes-Merton option pricing model with the following assumptions: Nine Months Ended September 30, 2017 2016 Expected volatility 56% - 58% 53% - 60% Risk-free rate 1.78% - 2.07% 1.16%-1.60% Dividend yield —% —% Expected term (in years) 5.31-6.11 5.31-6.11 Share price $1.3- $2.1 $6.8- $11.88
Summary of stock option and RSU activity	A summary of employee options to purchase ordinary shares and RSUs during the nine months ended September 30, 2017 is as follows: Nine Months Ended September 30, 2017 Number Average exercise price Average remaining contractual life (in years) (1) Aggregate intrinsic value (in thousands) Options and RSUs outstanding at the beginning of the period 2,251,014 $ 6.47 7.80 $ 1,740 Options granted 413,746 2.01 RSUs granted 230,484 — Options exercised (2) (30,192 ) 1.39 RSUs vested (2) (59,450 ) — RSUs forfeited (44,196 ) — Options forfeited (169,008 ) 2.99 Options and RSUs outstanding at the end of the period 2,592,398 $ 5.39 7.45 $ 578 Options exercisable at the end of the period 1,272,727 $ 6.12 6.46 $ 64 (1) Calculation of weighted average remaining contractual term does not include RSUs, which have an indefinite contractual term. (2) During the nine months period ended September 30, 2017 , the aggregate number of ordinary shares that were issued pursuant to RSUs that became vested and options that were exercised on a net basis was 87,795 ordinary shares.
Schedule of options and RSUs outstanding which have been separated into ranges of exercise price	The number of options and RSUs outstanding as of September 30, 2017 is set forth below, with options separated by range of exercise price. The below does not reflect the results of the Equity Exchange Program (as defined below) completed on October 5, 2017. Range of exercise price Options and RSUs outstanding as of September 30, 2017 Weighted average remaining contractual life (years) (1) Options exercisable as of September 30, 2017 Weighted average remaining contractual life (years) (1) RSUs only 353,437 — — — $0.82 31,803 3.29 31,803 3.29 $1.32 335,095 4.75 330,095 4.67 $1.47 - $2.20 762,937 8.07 338,830 6.35 $6.80- $8.99 663,382 8.09 322,536 7.96 $9.22- $10.98 201,343 8.42 75,586 8.10 $19.62-$20.97 244,401 7.17 173,877 7.15 2,592,398 7.45 1,272,727 6.46 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term.
Schedule of warrants outstanding and exercisable	The following table summarizes information about warrants outstanding and exercisable as of September 30, 2017 : Issuance date Warrants outstanding Exercise Warrants Contractual term (number) (number) July 14, 2014 (1) 403,804 $ 10.08 403,804 July 13, 2018 December 30, 2015 (2) 119,295 $ 9.64 119,295 See footnote (2) November 1, 2016 (3) 2,437,500 $ 4.75 2,437,500 November 1, 2021 December 28, 2016 (4) 47,717 $ 9.64 47,717 See footnote (4) 3,008,316 3,008,316 (1) Represents warrants to purchase ordinary shares at an exercise price of $10.08 per share, which were granted on July 14, 2014 as part of our series E investment round. (2) Represents a warrant to purchase ordinary shares at an exercise price of $9.64 per share, which was issued on December 31, 2015 to Kreos, in connection with a loan made by Kreos to us. The warrant is currently exercisable (in whole or in part) until the earlier of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of us with or into, or the sale or license of all or substantially all the assets or shares of us to, any other entity or person, other than a wholly-owned subsidiary of us, excluding any transaction in which our shareholders prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. None of these warrants had been exercised as of September 30, 2017 . (3) Represents warrants issued as part of our follow-on offering in November 2016. (4) Represents a warrant in the amount of 47,717 ordinary shares issued to Kreos as part of the $8.0 million drawdown under the Loan Agreement, which occurred on December 28, 2016. See footnote 2 above for exercisability terms.
Schedule of non-cash share-based compensation expense	The Company recognized non-cash share-based compensation expense for both employees and non-employees in the consolidated statements of operations for the periods shown below as follows (in thousands): Nine Months Ended September 30, 2017 2016 Cost of revenues $ 57 $ 78 Research and development, net 344 398 Sales and marketing, net 585 606 General and administrative 1,611 1,376 Total $ 2,597 $ 2,458

FINANCIAL EXPENSES, NET (Tables

FINANCIAL EXPENSES, NET (Tables)	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Schedule of financial expenses, net	The components of financial expenses, net were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transactions and other $ (37 ) $ 17 $ (113 ) $ 60 Financial expenses related to loan agreement with Kreos 510 495 1,932 1,462 Bank commissions 6 5 24 28 Income related to hedging transactions — (9 ) — (36 ) $ 479 $ 508 $ 1,843 $ 1,514

GEOGRAPHIC INFORMATION AND MA25

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of revenues within geographic areas	The below is a summary of revenues within geographic areas (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Revenues based on customer’s location: Israel $ — $ — $ — $ — United States 801 710 4,242 2,976 Europe 931 404 1,996 908 Asia-Pacific — 286 — 394 Total revenues $ 1,732 $ 1,400 $ 6,238 $ 4,278
Schedule of long-lived assets by geographic region	September 30, December 31, 2017 2016 Long-lived assets by geographic region (*): Israel $ 330 $ 476 United States 361 565 Germany 215 217 $ 906 $ 1,258 (*) Long-lived assets are comprised of property and equipment, net.
Schedule of major customer data as a percentage of total revenues	Major customer data as a percentage of total revenues (in thousands): September 30, December 31, 2017 2016 Customer A 42.6 % 33.3 %

GENERAL (Details)

GENERAL (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)subsidiary	Dec. 31, 2017	Dec. 31, 2016USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of wholly-owned subsidiaries | subsidiary	2
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Accumulated deficit | $	$ 125,058		$ 106,492
Maximum | Scenario, Forecast
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Expected reduction in operating expenses		30.00%

GENERAL - ATM Offering Program

GENERAL - ATM Offering Program (Details) - USD ($)	9 Months Ended		12 Months Ended	17 Months Ended
	Sep. 30, 2017		Dec. 31, 2016	Sep. 30, 2017		May 10, 2016
Class of Stock [Line Items]
Maximum amount which can be raised under ATM offering program						$ 25,000,000
Maximum amount which can be raised under shelf registration statement	$ 4,300,000			$ 4,300,000
ATM Offering Program
Class of Stock [Line Items]
Gross proceeds from shares issued under the ATM offering program	9,400,000			14,000,000
Underwriter commission, fees and offering expenses	439,000			907,000
Issuance of ordinary shares in an ATM offering of ordinary shares, net of issuance expenses	9,010,000	[1]	$ 4,099,000	13,100,000
Maximum amount which can be raised under ATM offering program	25,000,000			25,000,000
Maximum amount which can be raised under shelf registration statement	$ 4,300,000			$ 4,300,000
ATM Offering Program | Weighted Average
Class of Stock [Line Items]
Price per share of shares sold under ATM offering program (in USD per share)	$ 1.76			$ 2.31
Ordinary Share | ATM Offering Program
Class of Stock [Line Items]
Issuance of ordinary shares and warrants in an offering, net of issuance expenses (in shares)	5,379,908	[1]	692,062	6,071,970	[1]
Underwriter commission, fees and offering expenses	$ 439,000	[1]	$ 468,000
Issuance of ordinary shares in an ATM offering of ordinary shares, net of issuance expenses	$ 15,000	[1]	$ 2,000
[1]	(2) See Note 8e to the condensed consolidated financial statements

GENERAL - Concentration Risk (D

GENERAL - Concentration Risk (Details) - Vendor concentration - Trade payables - manufacturer	Sep. 30, 2017	Dec. 31, 2016
Concentration Risk [Line Items]
Number of contract manufacturers	1	1
Concentration risk (as a percent)	0.00%	12.00%

SIGNIFICANT ACCOUNTING POLICI29

SIGNIFICANT ACCOUNTING POLICIES (Concentrations of Credit Risks) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Concentration Risk [Line Items]
Allowance for doubtful accounts	$ 125	$ 333
Sales return reserve	$ 105	$ 105
Customer A | Credit Concentration Risk | Trade Receivable
Concentration Risk [Line Items]
Concentration Risk, Percentage	12.70%	0.00%
Customer B | Credit Concentration Risk | Trade Receivable
Concentration Risk [Line Items]
Concentration Risk, Percentage	12.30%	4.90%

SIGNIFICANT ACCOUNTING POLICI30

SIGNIFICANT ACCOUNTING POLICIES (Warranty Provision) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Accounting Policies [Abstract]
Standard warranty term	2 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at December 31, 2016	$ 498
Provision	311
Usage	(275)
Balance at September 30, 2017	$ 534

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished products	$ 3,500	$ 3,264
Inventories	$ 3,500	$ 3,264

COMMITMENTS AND CONTINGENT LI32

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details)	Mar. 23, 2017action	Nov. 10, 2016action	Jan. 31, 2017action	Sep. 30, 2017USD ($)actionshares	Nov. 03, 2017action	Sep. 30, 2017USD ($)actionshares	Nov. 01, 2017action
Commitments and Contingencies Disclosure [Abstract]
Outstanding purchase orders				$ 806,000		$ 806,000
Other Commitments [Line Items]
Collateral pledged				$ 850,000
Number of putative class actions brought against the company | action		4	8
Actions dismissed | action	1
Actions pending | action				3		3
Litigation reserve				$ 0		$ 0
Subsequent Event
Other Commitments [Line Items]
Actions dismissed | action					4
Actions pending | action					3		3
Subsequent Event | Consolidated Litigation
Other Commitments [Line Items]
Actions pending | action					2
Subsequent Event | Plaintiff's Actions Dismissed
Other Commitments [Line Items]
Actions pending | action					1
Term Loan | 10.75% Term Loan Due January 2019
Other Commitments [Line Items]
Line of credit				20,000,000		20,000,000
IIA
Other Commitments [Line Items]
Total funding received				828,000		1,600,000
Royalty bearing grants						1,200,000
Royalties paid						50,000
Contingent liability				$ 1,100,000		1,100,000
Series A Preferred Stock | IIA
Other Commitments [Line Items]
Amount received in consideration of preferred shares						$ 400,000
Issuance of ordinary shares (in shares) | shares						5,237
Conversion ratio of preferred stock (in shares) | shares				1		1
Minimum | IIA
Other Commitments [Line Items]
Royalty (as a percent)				3.00%
Maximum | IIA
Other Commitments [Line Items]
Royalty (as a percent)				3.50%
Percentage of grant received considered to determine royalty fees				100.00%

LOAN AGREEMENT WITH KREOS AND33

LOAN AGREEMENT WITH KREOS AND RELATED WARRANT TO PURCHASE ORDINARY SHARES (Details)		Jun. 09, 2017USD ($)shares$ / shares	Dec. 30, 2015USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Line of Credit Facility [Line Items]
Proceeds from long term loan						$ 0	$ 12,000,000
Loss on extinguishment of debt				$ 0	$ 0	(313,000)	0
Issuance of ordinary shares in at-the-market offering, net of issuance expenses	[1]					9,060,000	$ 4,110,000
Term Loan
Line of Credit Facility [Line Items]
Proceeds from long term loan			$ 20,000,000
Line of credit, outstanding principal		$ 17,200,000
Outstanding principal amount, portion of principal subject to extended repayment term		$ 3,000,000
Outstanding principal amount, extended repayment term		36 months
Number of equity securities debt instrument can be converted into (in shares) | shares		2,523,660
Debt instrument, conversion price (in USD per share) | $ / shares		$ 1.268
Debt instrument, reduction in principal at conversion		$ 3,000,000
Debt instrument, outstanding principal amount not subject to conversion		14,200,000
Debt instrument, end of loan payment		$ 200,000
Number of equity securities debt instrument can be converted into (in shares) | shares		157,729
Loss on extinguishment of debt						$ 313,000
Proceeds from issuance of common stock required for repayment period to be extended		$ 20,000,000
Issuance of ordinary shares in at-the-market offering, net of issuance expenses		$ 20,000,000
Outstanding principal, increase to extended repayment term		12 months
[1]	(1) See Note 8e to the condensed consolidated financial statements.

RESEARCH COLLABORATION AGREEMEN

RESEARCH COLLABORATION AGREEMENT AND LICENSE AGREEMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development, net	$ 1,618	$ 1,968	$ 4,433	$ 6,737
Collaboration and Licensing Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Total payment obligation	6,300		6,300
Research and development, net	$ 465	$ 267	$ 1,200	$ 1,300

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative - Share Option Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 27, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Shareholders' equity (deficiency) [Line Items]
Unrecognized compensation cost		$ 5,100
Period of recognition of unrecognized compensation cost		2 years 1 month 17 days
Options
Shareholders' equity (deficiency) [Line Items]
Shares reserved for future issuance (in shares)		602,158		380,153
Award vesting period		4 years
Weighted average grant date fair value, options (in USD per share)		$ 1.10	$ 4.75
Total intrinsic value of options exercised		$ 29	$ 844
Number of options tendered (in shares)		169,008
Options granted (in shares)		413,746
Options | First anniversary of the date of grant | Exchange Program
Shareholders' equity (deficiency) [Line Items]
Vesting rights percentage	33.33%
Options | Second anniversary | Exchange Program
Shareholders' equity (deficiency) [Line Items]
Vesting rights percentage	33.33%
Options | Third anniversary | Exchange Program
Shareholders' equity (deficiency) [Line Items]
Vesting rights percentage	33.33%
Options | Non-employee Director
Shareholders' equity (deficiency) [Line Items]
Award vesting period		1 year
RSU
Shareholders' equity (deficiency) [Line Items]
Weighted average grant date fair value, restricted stock units (in USD per share)		$ 2.01	$ 9.28

SHAREHOLDERS' EQUITY (Option Va

SHAREHOLDERS' EQUITY (Option Valuation Assumptions) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate, minimum (as a percent)	1.78%	1.16%
Risk-free rate, maximum (as a percent)	2.07%	1.60%
Dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	56.00%	53.00%
Expected term (in years)	5 years 3 months 22 days	5 years 3 months 22 days
Share price (in USD per share)	$ 1.3	$ 6.8
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	58.00%	60.00%
Expected term (in years)	6 years 1 month 10 days	6 years 1 month 10 days
Share price (in USD per share)	$ 2.1	$ 11.88

SHAREHOLDERS' EQUITY (Summary o

SHAREHOLDERS' EQUITY (Summary of Employee Share Option and RSU Activity ) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Aggregate intrinsic value (in thousands)
Issuance of ordinary share upon exercise of stock options and vesting of RSUs (in shares)	87,795
Stock Options and RSUs
Number
Options and RSU's outstanding at the beginning of the period (in shares)	2,251,014
Options and RSU's outstanding at the end of the period (in shares)	2,592,398	2,251,014
Average exercise price
Options and RSUs outstanding at the beginning of the period (in USD per share)	$ 6.47
Options and RSUs outstanding at the end of the period (in USD per share)	$ 5.39	$ 6.47
Average remaining contractual life (in years)
Options and RSUs outstanding	7 years 5 months 12 days	7 years 9 months 18 days
Aggregate intrinsic value (in thousands)
Options and RSUs outstanding at beginning of the period	$ 1,740
Options and RSUs outstanding at the end of the period	$ 578	$ 1,740
Options
Number
Options granted (in shares)	413,746
Options exercised (in shares)	(30,192)
Options forfeited (in shares)	(169,008)
Options exercisable at the end of the period (in shares)	1,272,727
Average exercise price
Options granted (in USD per share)	$ 2.01
Options exercised (in USD per share)	1.39
Options forfeited (in USD per share)	2.99
Options exercisable at the end of the period (in USD per share)	$ 6.12
Average remaining contractual life (in years)
Options exercisable at the end of the period	6 years 5 months 16 days
Aggregate intrinsic value (in thousands)
Options exercisable at the end of the period	$ 64
RSU
Number
RSUs granted (in shares)	230,484
RSUs vested (in shares)	(59,450)
RSUs forfeited (in shares)	(44,196)

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of Options and RSUs Outstanding Which have been Separated into Ranges of Exercise Price) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Options outstanding weighted average remaining contractual life (years)	7 years 5 months 12 days
Options and RSU's outstanding (in shares)	2,592,398	2,251,014
RSU
Ranges of Exercise Price [Line Items]
RSUs outstanding (in shares)	353,437
Options
Ranges of Exercise Price [Line Items]
Options exercisable (in shares)	1,272,727
Options exercisable weighted average remaining contractual life (years)	6 years 5 months 16 days
Options | $0.82
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 0.82
Range of exercise price, maximum (in USD per share)	$ 0.82
Options outstanding (in shares)	31,803
Options outstanding weighted average remaining contractual life (years)	3 years 3 months 15 days
Options exercisable (in shares)	31,803
Options exercisable weighted average remaining contractual life (years)	3 years 3 months 15 days
Options | $1.32
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 1.32
Range of exercise price, maximum (in USD per share)	$ 1.32
Options outstanding (in shares)	335,095
Options outstanding weighted average remaining contractual life (years)	4 years 9 months
Options exercisable (in shares)	330,095
Options exercisable weighted average remaining contractual life (years)	4 years 8 months 1 day
Options | $1.47 - $2.20
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 1.47
Range of exercise price, maximum (in USD per share)	$ 2.20
Options outstanding (in shares)	762,937
Options outstanding weighted average remaining contractual life (years)	8 years 26 days
Options exercisable (in shares)	338,830
Options exercisable weighted average remaining contractual life (years)	6 years 4 months 6 days
Options | $6.80- $8.99
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 6.80
Range of exercise price, maximum (in USD per share)	$ 8.99
Options outstanding (in shares)	663,382
Options outstanding weighted average remaining contractual life (years)	8 years 1 month 2 days
Options exercisable (in shares)	322,536
Options exercisable weighted average remaining contractual life (years)	7 years 11 months 16 days
Options | $9.22- $10.98
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 9.22
Range of exercise price, maximum (in USD per share)	$ 10.98
Options outstanding (in shares)	201,343
Options outstanding weighted average remaining contractual life (years)	8 years 5 months 1 day
Options exercisable (in shares)	75,586
Options exercisable weighted average remaining contractual life (years)	8 years 1 month 6 days
Options | $19.62-$20.97
Ranges of Exercise Price [Line Items]
Range of exercise price, minimum (in USD per share)	$ 19.62
Range of exercise price, maximum (in USD per share)	$ 20.97
Options outstanding (in shares)	244,401
Options outstanding weighted average remaining contractual life (years)	7 years 2 months 1 day
Options exercisable (in shares)	173,877
Options exercisable weighted average remaining contractual life (years)	7 years 1 month 24 days

SHAREHOLDER'S EQUITY (Share-bas

SHAREHOLDER'S EQUITY (Share-based Awards to Non-Employee Consultants) (Details) - shares	Mar. 12, 2007	Sep. 30, 2017
RSU
Share-based Goods and Nonemployee Services Transaction [Line Items]
RSUs granted (in shares)		230,484
Non-employee Consultants | Nonemployee Options
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options granted (in shares)	3,454
Non-employee Consultants | RSU
Share-based Goods and Nonemployee Services Transaction [Line Items]
RSUs granted (in shares)		14,357
Non-employee Consultants | Nonemployee Options and RSUs
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options and RSUs outstanding (in shares)		0

SHAREHOLDER'S EQUITY (Schedule

SHAREHOLDER'S EQUITY (Schedule of Warrants) (Details) - USD ($)	Dec. 28, 2016	Dec. 30, 2015	Sep. 30, 2017	Sep. 30, 2016
Class of Warrant or Right [Line Items]
Proceeds from long term loan			$ 0	$ 12,000,000
Term Loan
Class of Warrant or Right [Line Items]
Proceeds from long term loan		$ 20,000,000
Term Loan | 10.75% Term Loan Due January 2019
Class of Warrant or Right [Line Items]
Proceeds from long term loan	$ 8,000,000
Warrants issued July 14, 2014
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			403,804
Exercise price per warrant (in USD per share)			$ 10.08
Warrants exercisable (in shares)			403,804
Warrants issued December 30, 2015
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			119,295
Exercise price per warrant (in USD per share)			$ 9.64
Warrants exercisable (in shares)			119,295
Minimum percentage of acquired company required to prevent warrants from becoming exercisable			50.00%
Warrants issued November 1, 2016
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			2,437,500
Exercise price per warrant (in USD per share)			$ 4.75
Warrants exercisable (in shares)			2,437,500
Warrants issued December 28, 2016
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			47,717
Exercise price per warrant (in USD per share)			$ 9.64
Warrants exercisable (in shares)			47,717
Number of warrants issued (in shares)	47,717
Ordinary Share
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			3,008,316
Warrants exercisable (in shares)			3,008,316

SHAREHOLDERS' EQUITY (Schedul41

SHAREHOLDERS' EQUITY (Schedule of Non-cash Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	$ 2,597	$ 2,458
Cost of revenues
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	57	78
Research and development, net
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	344	398
Sales and marketing, net
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	585	606
General and administrative
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	$ 1,611	$ 1,376

SHAREHOLDER'S EQUITY (Narrative

SHAREHOLDER'S EQUITY (Narrative- At-the-market offering program) (Details) - USD ($)	9 Months Ended		12 Months Ended	17 Months Ended
	Sep. 30, 2017		Dec. 31, 2016	Sep. 30, 2017		May 10, 2016
Share-based Goods and Nonemployee Services Transaction [Line Items]
Maximum amount which can be raised under ATM offering program						$ 25,000,000
Maximum amount which can be raised under shelf registration statement	$ 4,300,000			$ 4,300,000
Stock issuance costs under equity distribution agreement as a percent of gross proceeds						3.00%
Issuance expenses	389,000
ATM Offering Program
Share-based Goods and Nonemployee Services Transaction [Line Items]
Maximum amount which can be raised under ATM offering program	25,000,000			25,000,000
Maximum amount which can be raised under shelf registration statement	4,300,000			4,300,000
Issuance of ordinary shares in an ATM offering of ordinary shares, gross of issuance expenses	9,400,000			14,000,000
Issuance of ordinary shares in an ATM offering of ordinary shares, net of issuance expenses	9,010,000	[1]	$ 4,099,000	13,100,000
Underwriter commission, fees and offering expenses	$ 439,000			907,000
Piper Jaffray | ATM Offering Program
Share-based Goods and Nonemployee Services Transaction [Line Items]
Issuance expenses				$ 420,000
Ordinary Share | ATM Offering Program
Share-based Goods and Nonemployee Services Transaction [Line Items]
Issuance of ordinary shares (in shares)	5,379,908	[1]	692,062	6,071,970	[1]
Issuance of ordinary shares in an ATM offering of ordinary shares, net of issuance expenses	$ 15,000	[1]	$ 2,000
Underwriter commission, fees and offering expenses	$ 439,000	[1]	$ 468,000
Maximum
Share-based Goods and Nonemployee Services Transaction [Line Items]
Stock issuance costs under equity distribution agreement as a percent of gross proceeds						8.00%
Weighted Average | ATM Offering Program
Share-based Goods and Nonemployee Services Transaction [Line Items]
Price per share of shares sold under ATM offering program (in USD per share)	$ 1.76			$ 2.31
[1]	(2) See Note 8e to the condensed consolidated financial statements

FINANCIAL EXPENSES, NET (Detail

FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Foreign currency transactions and other	$ (37)	$ 17	$ (113)	$ 60
Financial expenses related to loan agreement with Kreos	510	495	1,932	1,462
Bank commissions	6	5	24	28
Income related to hedging transactions	0	(9)	0	(36)
Financial expenses, net	$ 479	$ 508	$ 1,843	$ 1,514

GEOGRAPHIC INFORMATION AND MA44

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Additional Information) (Details)	9 Months Ended
	Sep. 30, 2017segment
Segment Reporting [Abstract]
Number of reportable segments	1

GEOGRAPHIC INFORMATION AND MA45

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Schedule of revenues within geographic areas) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Major customer data as a percentage of total revenues [Line items]
Revenues	$ 1,732	$ 1,400	$ 6,238	$ 4,278
Israel
Major customer data as a percentage of total revenues [Line items]
Revenues	0	0	0	0
United States
Major customer data as a percentage of total revenues [Line items]
Revenues	801	710	4,242	2,976
Europe
Major customer data as a percentage of total revenues [Line items]
Revenues	931	404	1,996	908
Asia-Pacific
Major customer data as a percentage of total revenues [Line items]
Revenues	$ 0	$ 286	$ 0	$ 394

GEOGRAPHIC INFORMATION AND MA46

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Schedule long-lived assets by geographic region) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Summary of revenues and long-lived assets by geographic region [Line items]
Long-lived assets	$ 906	$ 1,258
Israel
Summary of revenues and long-lived assets by geographic region [Line items]
Long-lived assets	330	476
United States
Summary of revenues and long-lived assets by geographic region [Line items]
Long-lived assets	361	565
Germany
Summary of revenues and long-lived assets by geographic region [Line items]
Long-lived assets	$ 215	$ 217

GEOGRAPHIC INFORMATION AND MA47

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Schedule of major customer data as a percentage of total revenues) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Revenue | Customer concentration | Customer A
Major customer data as a percentage of total revenues [Line items]
Concentration risk (as a percent)	42.60%	33.30%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Oct. 05, 2017shares	Oct. 04, 2017option_holdershares	Sep. 30, 2017actionshares	Nov. 03, 2017action	Nov. 01, 2017action
Subsequent Event [Line Items]
Actions pending | action			3
Subsequent Event
Subsequent Event [Line Items]
Actions pending | action				3	3
Options
Subsequent Event [Line Items]
Number of options tendered (in shares)			169,008
Award vesting period			4 years
RSU
Subsequent Event [Line Items]
RSUs granted (in shares)			230,484
Exchange Program | Options | Subsequent Event
Subsequent Event [Line Items]
Number of option holders tendering options | option_holder		46
Number of options tendered (in shares)		945,416
Percentage of options tendered		96.40%
Exchange Program | RSU | Subsequent Event
Subsequent Event [Line Items]
RSUs granted (in shares)	251,872
Award vesting period	3 years
Exchange Program | RSU | Subsequent Event | Chief Executive Officer
Subsequent Event [Line Items]
RSUs granted (in shares)	180,167