CollPlant Biotechnologies (CLGN) 6-K 28 Aug 20 2020 Q2 CollPlant Biotechnologies Reports Second Quarter (Q2) 2020 Financial Results Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2020
Document And Entity Information [Abstract]
Entity Registrant Name	CollPlant Biotechnologies Ltd
Entity Central Index Key	0001631487
Amendment Flag	false
Document Type	6-K
Document Period End Date	Jun. 30, 2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 3,672	$ 3,791
Trade receivables	321	79
Other accounts receivable and prepaid expenses	750	270
Restricted deposit	12	12
Inventory	730	888
Total current assets	5,485	5,040
Non-current assets:
Restricted deposit	167	168
Operating lease right-of-use assets	3,048	3,215
Property and equipment, net	2,248	2,329
Total non-current assets	5,463	5,712
Total assets	10,948	10,752
Current liabilities:
Loan	12	24
Accounts payable:
Trade payables	559	833
Accrued liabilities and other	866	1,203
Operating lease liabilities	442	455
Deferred revenues	297	942
Total current liabilities	2,176	3,457
Non-current liabilities:
Derivatives	42	68
Operating lease liabilities	2,953	3,139
Total non-current liabilities	2,995	3,207
Total liabilities	5,171	6,664
Commitments and contingencies
Shareholders' Equity:
Ordinary shares, NIS 1.5 par value - authorized: 30,000,000 ordinary shares as of June 30, 2020 and December 31, 2019; issued and outstanding: 6,467,536 and 5,670,829 ordinary shares as of June 30, 2020 and December 31, 2019, respectively	2,713	2,368
Additional paid in capital and warrants	74,865	69,949
Currency translation differences	(969)	(969)
Accumulated deficit	(70,832)	(67,260)
Total shareholders' equity	5,777	4,088
Total liabilities and shareholders' equity	$ 10,948	$ 10,752

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - ₪ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Ordinary shares, par value (in NIS)	₪ 1.5	₪ 1.5
Ordinary shares, shares authorized	30,000,000	30,000,000
Ordinary shares, shares issued	6,467,536	5,670,829
Ordinary shares, shares outstanding	6,467,536	5,670,829

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue from product sales	$ 713	$ 606	$ 1,228	$ 1,048
Revenue from service	110		204	152
Total Revenue	823	606	1,432	1,200
Cost of Revenue	748	463	1,223	883
Gross Profit	75	143	209	317
Operating expenses:
Research and development, net	1,002	1,084	1,812	1,856
General, administrative and marketing	986	820	2,017	1,749
Total operating loss	1,913	1,761	3,620	3,288
Financial income	9	630	26	48
Financial expenses	(2)	(6)	(6)	(6)
Exchange differences	(65)	(111)	28	(242)
Financial income (expenses), net	(58)	513	48	(200)
Loss for the period	$ 1,971	$ 1,248	$ 3,572	$ 3,488
Basic and diluted loss per ordinary share	$ 0.28	$ 0.27	$ 0.52	$ 0.75
Weighted average ordinary shares outstanding	6,958,109	4,661,506	6,809,666	4,660,862

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands		Ordinary shares		Additional paid-in capital and warrants	Currency translation differences	Accumulated deficit	Total
BALANCE at Dec. 31, 2018		$ 1,580		$ 60,905	$ (969)	$ (56,096)	$ 5,420
BALANCE, Shares at Dec. 31, 2018		3,815
CHANGES DURING THE PERIOD:
Classification of warrants from equity to liability				(1,804)			(1,804)
Exercise of options		$ 3		4			7
Exercise of options, Shares		6
Share-based compensation				629
Comprehensive loss						(3,488)	(3,488)
BALANCE at Jun. 30, 2019		$ 1,583		59,734	(969)	(59,584)	764
BALANCE, Shares at Jun. 30, 2019		3,821
BALANCE at Mar. 31, 2019		$ 1,580		59,441	(969)	(58,336)	1,716
BALANCE, Shares at Mar. 31, 2019		3,815
CHANGES DURING THE PERIOD:
Exercise of options		$ 3		4			7
Exercise of options, Shares		6
Share-based compensation				289			289
Comprehensive loss						(1,248)	(1,248)
BALANCE at Jun. 30, 2019		$ 1,583		59,734	(969)	(59,584)	764
BALANCE, Shares at Jun. 30, 2019		3,821
BALANCE at Dec. 31, 2019		$ 2,368		69,949	(969)	(67,260)	4,088
BALANCE, Shares at Dec. 31, 2019		5,671
CHANGES DURING THE PERIOD:
Exercise of options		$ 7		60			67
Exercise of options, Shares		16
Share-based compensation		$ 6		788			794
Share-based compensation, Shares		15
Comprehensive loss						(3,572)	(3,572)
Issuance of ordinary shares and warrants, net of issuance costs		$ 195		4,205			4,400
Issuance of ordinary shares and warrants, net of issuance costs, Shares		445
Conversion of prepaid warrants to ordinary shares		$ 137		(137)
Conversion of prepaid warrants to ordinary shares, Shares		320
BALANCE at Jun. 30, 2020		$ 2,713		74,865	(969)	(70,832)	5,777
BALANCE, Shares at Jun. 30, 2020		6,467
BALANCE at Mar. 31, 2020		$ 2,712		74,387	(969)	(68,861)	7,269
BALANCE, Shares at Mar. 31, 2020		6,464
CHANGES DURING THE PERIOD:
Exercise of options			[1]	2			2
Exercise of options, Shares	[1]
Share-based compensation		$ 1		476			477
Share-based compensation, Shares		3
Comprehensive loss						(1,971)	(1,971)
BALANCE at Jun. 30, 2020		$ 2,713		$ 74,865	$ (969)	$ (70,832)	$ 5,777
BALANCE, Shares at Jun. 30, 2020		6,467
[1]	Represent an amount less than 1.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Statement of Stockholders' Equity [Abstract]
Ordinary shares and warrants	$ 50

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net cash used in operations (see Appendix A)	$ (4,343)	$ (2,725)
Net cash used in operating activities	(4,343)	(2,725)
Cash flows from investing activities:
Purchase of property and equipment	(246)	(1,060)
Net cash used in investing activities	(246)	(1,060)
Cash flows from financing activities:
Proceeds from issuance of shares, net	4,400
Exercise of options into shares	67	7
Loan paid	(12)	(8)
Payments made for equipment on financing terms		(17)
Net cash provided by (used in) financing activities	4,455	(18)
Decrease in cash and cash equivalents and restricted deposits	(134)	(3,803)
Cash and cash equivalents and restricted deposits at the beginning of the period	3,971	5,663
Exchange differences on cash and cash equivalents and restricted deposits	14	54
Cash and cash equivalents and restricted deposits at the end of the period	3,851	1,914
A. Net cash used in operations:
Loss	(3,572)	(3,488)
Adjustments for:
Depreciation	327	228
Share-based compensation to employees and consultants	794	629
Exchange differences on cash and cash equivalents	(14)	(54)
Financial expenses related to financial instruments	(26)	60
Net change of operating lease accounts	(32)	292
Adjustments, noncash items, to reconcile net income (loss) to cash provided by (used in) operating activities	(2,523)	(2,333)
Changes in operating asset and liability items:
Increase in trade receivables	(242)	(95)
Decrease (increase) in inventory	158	(144)
Decrease (increase) in other receivables (including long-term receivables)	(480)	11
Increase (decrease) in trade payables (including long-term payables)	(274)	156
Increase (decrease) in accrued liabilities and other payables	(337)	91
Decrease in deferred revenues (including long term deferred revenues)	(645)	(411)
Increase (Decrease) in Operating Capital	(1,820)	(392)
Net cash used in operations	(4,343)	(2,725)
Supplemental disclosures of non-cash investing and financing activities:
Conversion of pre-paid warrants to ordinary shares	137
Obtaining right of use assets in exchange for a lease liability	23
Classification of warrants from equity to liabilities, net		$ 1,804

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2020
General [Abstract]
NATURE OF OPERATIONS	Note 1 - NATURE OF OPERATIONS: CollPlant Biotechnologies Ltd. (the "Company") is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs and medical aesthetics. The Company's revenues include income from business collaborators and sales of (i) the BioInk product for the development of 3D bioprinting of organs and tissues, (ii) sales of rhCollagen for the medical aesthetics market, and (iii) sales in Europe of the products for tendinopathy and wound healing. The Company operates through CollPlant Ltd., a wholly-owned subsidiary (CollPlant Biotechnologies Ltd. and CollPlant Ltd. will be referred to hereinafter as "the Company" and "CollPlant", respectively). The Company has an accumulated deficit of approximately $70,832 as of June 30, 2020, as well as a history of net losses and negative operating cash flows in recent years. The Company expects to continue incurring losses and negative cash flows from operations until it will receive material income from business collaborators under licensing agreements and/or its products (primarily BioInk) reach commercial profitability. As a result of these expected losses and negative cash flows from operations, along with the Company's current cash position, the Company does not have sufficient cash to meet its liquidity requirements for the following twelve months. Consequently, there is substantial doubt about the Company's ability to continue as a going concern. These financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. Management's plans include the continued collaborations with global leading companies in medical aesthetics and 3D bioprinting of organs and tissues, commercialization of the Company's products, capital inflows from strategic partnerships and may include raising capital through the sale of additional equity securities. There are no assurances however, that the Company will be successful in obtaining the level of financing needed for its operations. If the Company is unsuccessful in commercializing its products and raising capital, it may need to reduce activities, curtail or cease operations.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: a. Basis of presentation The unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for interim financial information. Accordingly, they do not contain all information and notes required by US GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company's consolidated financial position as of June 30, 2020, the consolidated results of operations, changes in shareholders' equity for the three and six-month periods ended June 30, 2020 and cash flows for the six-month periods ended June 30, 2020 and 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's annual financial statements for the year ended December 31, 2019, as filed in the 20-F on April 1, 2020. The condensed consolidated balance sheet data as of December 31, 2019 included in these unaudited condensed consolidated financial statements was derived from the audited financial statements for the year ended December 31, 2019 but does not include all disclosures required by US GAAP for annual financial statements. The results for the six-month period ended June 30, 2020 are not necessarily indicative of the results expected for the year ending December 31, 2020. b. Principles of consolidation The consolidated financial statements include the accounts of CollPlant Biotechnologies and its Subsidiary. Intercompany balances and transactions have been eliminated upon consolidation. c. Loss per share Basic loss per share is computed on the basis of the net loss, adjusted to recognize the effect of a down-round feature when it is triggered, for the period divided by the weighted average number of ordinary shares and prepaid warrants outstanding during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and of ordinary shares equivalents outstanding when dilutive. Ordinary share equivalents include outstanding stock options and warrants, which are included under the treasury stock method when dilutive. The calculation of diluted loss per share does not include options and warrants exercisable into 3,994,056 shares and 2,433,957 shares for the six and three months periods ended June 30, 2020 and 2019, respectively, because the effect would be anti-dilutive. d. Newly issued and recently adopted accounting pronouncements: In June 2016, the Financial Accounting Standards Board issued an Accounting Standards Update that supersedes the existing impairment model for most financial assets to a current expected credit loss model. The new guidance requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements e. Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into six broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. The financial instruments which are measures at fair value are categorized as Level 3. The carrying amount of the cash and cash equivalents, other receivable and accrued expenses and other liabilities approximates their fair value.

Share Capital

Share Capital	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
SHARE CAPITAL	NOTE 3 – SHARE CAPITAL: a. Changes in share capital 1) On February 14, 2020, the Company entered into a Securities Purchase Agreement with accredited U.S. investors, pursuant to which the Company issued on March 6, 2020, in a private placement, 445,000 ordinary shares for an aggregate purchase price of $4,450. 2) During the six-month period ended June 30, 2020, options to purchase 16,278 ordinary shares were exercised for consideration of approximately $67. b. Share-based compensation: 1) Option plan In accordance with an option plan for employees and consultants (the "Option Plan"), as amended from time to time, employees and consultants of the Company will be granted options, each exercisable into one ordinary share of the Company of NIS 1.50. The ordinary shares that will be issued in accordance with the Option Plan will have the same rights as the other ordinary shares of the Company, immediately subsequent to their issue. An option that is not exercised within 10 years from the allotment date will expire, unless the board of directors extends its validity. Grants to employees are made in accordance with the Option Plan, and are carried out within the provisions of Section 102 of the Israel Income Tax Ordinance. In accordance with the track selected by the Company and these provisions, the Company is not entitled to claim a tax deduction for the employee benefits. For those who are not employees of the Company, and for the Company's controlling shareholders (as defined in the Income Tax Ordinance) options are granted in accordance with section 3(I) of the Income Tax Ordinance. In March 2020, the Company's board of directors extended the option plan for additional 10 years. All other terms of the plan remained unchanged. 2) Options grants In the six months ended June 30, 2020 and 2019, the Company granted options as follows: Six months ended June 30, 2020 Number of options granted Exercise Vesting Expiration Employees 317,909 $ 10.08 4 years 10 years Directors 162,713 $ 11.06 4 years 10 years Six months ended June 30, 2019 Number of options granted Exercise Vesting Expiration Employees 230,000 $ 5.07 4 years 7 years Directors 286,390 $ 5.07 4 years 7 years Consultants 5,000 5.07 4 years 7 years The fair value of options granted to employees during the six months ended June 30, 2020, and 2019 was $2,960 and $1,560, respectively. The fair value of options granted to employees on the date of grant was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Six months ended 2020 2019 Value of ordinary share $ 9.99-$10.5 $ 5.7-$5.9 Dividend yield 0 % 0 % Expected volatility 66.05%-66.41 % 61.31%-61.71 % Risk-free interest rate 0.29%-0.35 % 1.87%-2.49 % Expected term 6.11 years 4 years 2) The following table illustrates the effect of share-based compensation on the statements of operations: Three months ended Six months ended 2020 2019 2020 2019 U.S. dollars in thousands U.S. dollars in thousands Research and development expenses, net $ 152 $ 108 $ 237 $ 215 General and administrative expenses 325 181 557 414 $ 477 $ 289 $ 794 $ 629

Supplementary Financial Stateme

Supplementary Financial Statement Information	6 Months Ended
	Jun. 30, 2020
Supplementary Financial Statement Information [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	NOTE 4 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION a. Revenues by geographic area were as follows: Six months ended Three months ended 2020 2019 2020 2019 United states and Canada $ 1,334 $ 1,080 $ 789 $ 553 Europe 98 120 $ 34 53 Total $ 1,432 $ 1,200 $ 823 $ 606 b. Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period is $645 and $390 for the six and three months period ended June 30, 2020 and $411 and $285 for the six and three months period ended June 30, 2019. c. Major customers Set forth below is a breakdown of the Company's revenue by major customers (major customer –revenues from these customers constitute at least 10% of total revenues in a certain period): Six months ended Three months ended 2020 2019 2020 2019 Customer A $ 849 $ 558 $ 500 $ 282 Customer B $ - $ 355 $ - $ 187 Customer C $ 469 $ 147 $ 273 $ 74

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 5 – SUBSEQUENT EVENTS On August 27, 2020, the board of directors approved, subject to shareholders approval, the grant of an aggregate of 32,000 options exercisable into 32,000 ordinary shares at an exercise price of $9.12 per share, to four of the Company's board members. The options will vest over four years in which one quarter will vest one year after the grant date and the remaining balance will vest in equal parts at the end of each subsequent quarter.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of presentation	a. Basis of presentation The unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for interim financial information. Accordingly, they do not contain all information and notes required by US GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair statement of the Company's consolidated financial position as of June 30, 2020, the consolidated results of operations, changes in shareholders' equity for the three and six-month periods ended June 30, 2020 and cash flows for the six-month periods ended June 30, 2020 and 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's annual financial statements for the year ended December 31, 2019, as filed in the 20-F on April 1, 2020. The condensed consolidated balance sheet data as of December 31, 2019 included in these unaudited condensed consolidated financial statements was derived from the audited financial statements for the year ended December 31, 2019 but does not include all disclosures required by US GAAP for annual financial statements. The results for the six-month period ended June 30, 2020 are not necessarily indicative of the results expected for the year ending December 31, 2020.
Principles of consolidation	b. Principles of consolidation The consolidated financial statements include the accounts of CollPlant Biotechnologies and its Subsidiary. Intercompany balances and transactions have been eliminated upon consolidation.
Loss per share	c. Loss per share Basic loss per share is computed on the basis of the net loss, adjusted to recognize the effect of a down-round feature when it is triggered, for the period divided by the weighted average number of ordinary shares and prepaid warrants outstanding during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and of ordinary shares equivalents outstanding when dilutive. Ordinary share equivalents include outstanding stock options and warrants, which are included under the treasury stock method when dilutive. The calculation of diluted loss per share does not include options and warrants exercisable into 3,994,056 shares and 2,433,957 shares for the six and three months periods ended June 30, 2020 and 2019, respectively, because the effect would be anti-dilutive.
Newly issued and recently adopted accounting pronouncements	d. Newly issued and recently adopted accounting pronouncements: In June 2016, the Financial Accounting Standards Board issued an Accounting Standards Update that supersedes the existing impairment model for most financial assets to a current expected credit loss model. The new guidance requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements
Fair value measurement	e. Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into six broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. The financial instruments which are measures at fair value are categorized as Level 3. The carrying amount of the cash and cash equivalents, other receivable and accrued expenses and other liabilities approximates their fair value.

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of shares issued granted options	Six months ended June 30, 2020 Number of options granted Exercise Vesting Expiration Employees 317,909 $ 10.08 4 years 10 years Directors 162,713 $ 11.06 4 years 10 years Six months ended June 30, 2019 Number of options granted Exercise Vesting Expiration Employees 230,000 $ 5.07 4 years 7 years Directors 286,390 $ 5.07 4 years 7 years Consultants 5,000 5.07 4 years 7 years
Schedule of fair value options granted	Six months ended 2020 2019 Value of ordinary share $ 9.99-$10.5 $ 5.7-$5.9 Dividend yield 0 % 0 % Expected volatility 66.05%-66.41 % 61.31%-61.71 % Risk-free interest rate 0.29%-0.35 % 1.87%-2.49 % Expected term 6.11 years 4 years
Schedule of share-based compensation	Three months ended Six months ended 2020 2019 2020 2019 U.S. dollars in thousands U.S. dollars in thousands Research and development expenses, net $ 152 $ 108 $ 237 $ 215 General and administrative expenses 325 181 557 414 $ 477 $ 289 $ 794 $ 629

Supplementary Financial State_2

Supplementary Financial Statement Information (Tables)	6 Months Ended
	Jun. 30, 2020
Supplementary Financial Statement Information [Abstract]
Schedule of supplementary financial statement information	Six months ended Three months ended 2020 2019 2020 2019 United states and Canada $ 1,334 $ 1,080 $ 789 $ 553 Europe 98 120 $ 34 53 Total $ 1,432 $ 1,200 $ 823 $ 606 Six months ended Three months ended 2020 2019 2020 2019 Customer A $ 849 $ 558 $ 500 $ 282 Customer B $ - $ 355 $ - $ 187 Customer C $ 469 $ 147 $ 273 $ 74

Nature of Operations (Details)

Nature of Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Nature of Operations (Textual)
Accumulated deficit	$ (70,832)	$ (67,260)

Significant Accounting Polici_3

Significant Accounting Policies (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Significant Accounting Policies (Textual)
Warrants exercisable	3,994,056	2,433,957

Share Capital (Details)

Share Capital (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Directors [Member]
Number of options granted	162,713	286,390
Exercise price range	$ 11.06	$ 5.07
Vesting period range	4 years	4 years
Expiration	10 years	7 years
Consultants [Member]
Number of options granted		5,000
Exercise price range		$ 5.07
Vesting period range		4 years
Expiration		7 years
Employees [Member]
Number of options granted	317,909	230,000
Exercise price range	$ 10.08	$ 5.07
Vesting period range	4 years	4 years
Expiration	10 years	7 years

Share Capital (Details 1)

Share Capital (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Dividend yield	0.00%	0.00%
Expected term	6 years 1 month 9 days	4 years
Minimum [Member]
Value of one ordinary share	$ 9.99	$ 5.7
Expected volatility	66.05%	61.31%
Risk-free interest rate	29.00%	1.87%
Maximum [Member]
Value of one ordinary share	$ 10.5	$ 5.9
Expected volatility	66.41%	61.71%
Risk-free interest rate	35.00%	2.49%

Share Capital (Details 2)

Share Capital (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based compensation	$ 477	$ 289	$ 794	$ 629
Research and development expenses, net [Member]
Share-based compensation	152	108	237	215
General and administrative expenses [Member]
Share-based compensation	$ 325	$ 181	$ 557	$ 414

Share Capital (Details Textual)

Share Capital (Details Textual) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Mar. 06, 2020
Options to purchase of ordinary shares		16,278
Exercised for consideration		$ 67
Fair value of options granted		$ 2,960	$ 1,560
Terms of options, description	The Company's board of directors extended the option plan for additional 10 years. All other terms of the plan remained unchanged.
Private Placement [Member]
Common shares issued				445,000
Ordinary shares purchase price				$ 4,450

Supplementary Financial State_3

Supplementary Financial Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues by geographic area	$ 823	$ 606	$ 1,432	$ 1,200
United states and Canada [Member]
Revenues by geographic area	789	553	1,334	1,080
Europe [Member]
Revenues by geographic area	$ 34	$ 53	$ 98	$ 120

Supplementary Financial State_4

Supplementary Financial Statement Information (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue by major customers	$ 823	$ 606	$ 1,432	$ 1,200
Customer A [Member]
Revenue by major customers	500	282	849	558
Customer B [Member]
Revenue by major customers		187		355
Customer C [Member]
Revenue by major customers	$ 273	$ 74	$ 469	$ 147

Supplementary Financial State_5

Supplementary Financial Statement Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Supplementary Financial Statement Information (Textual)
Revenue recognized	$ 390	$ 285	$ 645	$ 411
Revenue, percentage			10.00%

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Aug. 27, 2020
Subsequent Event [Member]
Subsequent Events (Textual)
Subsequent Events, description	The board of directors approved, subject to shareholders approval, the grant of an aggregate of 32,000 options exercisable into 32,000 ordinary shares at an exercise price of $9.12 per share, to four of the Company's board members.