Entera Bio (ENTX) 6-K 16 Aug 21 2021 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2021
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Entity Registrant Name	ENTERA BIO LTD.
Entity Central Index Key	0001638097
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents		$ 26,926	$ 8,593
Accounts receivable		116	255
Other current assets		863	261
TOTAL CURRENT ASSETS		27,905	9,109
NON-CURRENT ASSETS:
Property and equipment		168	192
Right of use assets		261	356
Intangible assets		605	605
TOTAL NON-CURRENT ASSETS		1,034	1,153
TOTAL ASSETS		28,939	10,262
Accounts payable:
Trade		289	164
Other		1,473	1,330
Current maturities of lease liabilities		184	189
Warrants to purchase ordinary shares		1,395	1,432
Contract liabilities		8	158
TOTAL CURRENT LIABILITIES		3,349	3,273
NON-CURRENT LIABILITIES:
Lease liabilities		187	243
Severance pay obligations, net		88	81
TOTAL NON-CURRENT LIABILITIES		275	324
TOTAL LIABILITIES		3,624	3,597
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.0000769 par value: Authorized - as of June 30, 2021 and December 31, 2020, 140,010,000 shares; issued and outstanding: as of June 30, 2021, and December 31, 2020 28,286,111 and 21,057,922 shares, respectively	[1]
Accumulated other comprehensive income		41	41
Other reserves		9,722	8,924
Additional paid in capital		103,089	70,595
Accumulated deficit		(87,537)	(72,895)
TOTAL SHAREHOLDERS' EQUITY		25,315	6,665
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$ 28,939	$ 10,262
[1]	Represents an amount less than one thousand US dollars.

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (Parenthetical) - ₪ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of financial position [abstract]
Ordinary Shares, par value	₪ 0.0000769	₪ 0.0000769
Ordinary Shares, Authorized	140,010,000	140,010,000
Ordinary Shares, Issued	28,286,111	21,057,922
Ordinary Shares, Outstanding	28,286,111	21,057,922

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Profit or loss [abstract]
REVENUE	$ 109	$ 52	$ 266	$ 94
COST OF REVENUE	63	31	121	73
RESEARCH AND DEVELOPMENT EXPENSES, NET	1,258	2,011	2,417	3,616
GENERAL AND ADMINISTRATIVE EXPENSES	1,450	1,537	2,759	2,827
OTHER INCOME	(12)	0	(22)	0
OPERATING LOSS	2,650	3,527	5,009	6,422
FINANCIAL EXPENSES (INCOME):
Loss (income) from change in fair value of financial liabilities at fair value	2,427	(366)	9,530	(318)
Other financial expenses, net	37	29	25	4
FINANCIAL EXPENSES (INCOME), NET	2,464	(337)	9,555	(314)
NET LOSS BEFORE TAXES	5,114	3,190	14,564	6,108
TAXES ON INCOME	40	0	78	0
NET COMPREHENSIVE LOSS FOR THE PERIOD	$ 5,154	$ 3,190	$ 14,642	$ 6,108
LOSS PER ORDINARY SHARE:
Basic	$ 0.21	$ 0.17	$ 0.63	$ 0.34
Diluted	$ 0.21	$ 0.17	$ 0.63	$ 0.34
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	24,716,608	18,234,191	23,377,668	18,142,016
Diluted	24,716,608	18,234,191	23,377,668	18,142,016

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Number of ordinary shares [Member]		Accumulated other comprehensive income [Member]	Other reserve [Member]	Additional paid in capital [Member]	Accumulated deficit [Member]	Total
BALANCE at Dec. 31, 2019		[1]	$ 41	$ 11,398	$ 63,392	$ (62,912)	$ 11,919
BALANCE, shares at Dec. 31, 2019	17,864,684
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period	$ 0		0	0	0	(6,108)	(6,108)
Exercise of options to ordinary shares		[1]	0	(35)	103	0	68
Exercise of warrants to ordinary shares, shares	31,954
Issuance of shares and warrant due to a private placement, net of issuance costs		[1]	0	0	573	0	573
Issuance of shares and warrant due to a private placement, net of issuance costs, shares	337,553
Expiration of options and warrants	$ 0		0	(1,672)	1,672	0	0
Share-based compensation	0		0	777	0	0	777
BALANCE at Jun. 30, 2020		[1]	41	10,468	65,740	(69,020)	7,229
BALANCE, shares at Jun. 30, 2020	18,234,191
BALANCE at Mar. 31, 2020		[1]	4	11,598	64,206	(65,830)	10,015
BALANCE, shares at Mar. 31, 2020	18,234,191
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period	$ 0		0	0	0	(3,190)	(3,190)
Expiration of warrants	0		0	(1,534)	1,534	0	0
Share-based compensation	0		0	404	0	0	404
BALANCE at Jun. 30, 2020		[1]	41	10,468	65,740	(69,020)	7,229
BALANCE, shares at Jun. 30, 2020	18,234,191
BALANCE at Dec. 31, 2020		[1]	41	8,924	70,595	(72,895)	$ 6,665
BALANCE, shares at Dec. 31, 2020	21,057,922						21,057,922
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period	$ 0		0			(14,642)	$ (14,642)
Exercise of warrants to ordinary shares		[1]	0		12,725	0	12,725
Exercise of warrants to ordinary shares, shares	3,175,050
Exercise of options to ordinary shares		[1]	0	(139)	413	0	274
Exercise of warrants to ordinary shares, shares	99,974
Issuance of shares under the ATM program, net of issuance costs		[1]	0	0	19,343	0	19,343
Issuance of shares under the ATM program, net of issuance costs, shares	3,946,265
Vested restricted share units	$ 0		0	(13)	13	0	0
Vested restricted share units shares	7,000
Share-based compensation	$ 0		0	950	0	0	950
BALANCE at Jun. 30, 2021		[1]	41	9,722	103,089	(87,537)	$ 25,315
BALANCE, shares at Jun. 30, 2021	28,286,211						28,286,111
BALANCE at Mar. 31, 2021		[1]	41	9,128	80,827	(82,383)	$ 7,613
BALANCE, shares at Mar. 31, 2021	23,776,785
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period	$ 0		0			(5,154)	(5,154)
Exercise of warrants to ordinary shares		[1]	0	0	12,701	0	12,701
Exercise of warrants to ordinary shares, shares	3,080,832
Exercise of options to ordinary shares		[1]	0	(29)	77	0	48
Exercise of warrants to ordinary shares, shares	28,594
Issuance of shares under the ATM program, net of issuance costs		[1]	0	0	9,484	0	9,484
Issuance of shares under the ATM program, net of issuance costs, shares	1,400,000
Share-based compensation	$ 0		0	623	0	0	623
BALANCE at Jun. 30, 2021		[1]	$ 41	$ 9,722	$ 103,089	$ (87,537)	$ 25,315
BALANCE, shares at Jun. 30, 2021	28,286,211						28,286,111
[1]	Represents an amount less than one thousand US dollars.

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENTS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020
CASH FLOWS USED IN OPERATING ACTIVITIES:
Net loss for the period	$ (14,642)		$ (6,108)
Adjustments required to reflect net cash used in operating activities (see appendix A)	10,294		(74)
Net cash used in operating activities	(4,348)		(6,182)
CASH FLOWS USED IN INVESTING ACTIVITIES:
Purchase of property and equipment	0		(29)
Net cash used in investing activities	0		(29)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:
Proceeds from Issuance of ordinary shares and warrants, net of issuance costs	0		797
Issuance of shares due to the ATM program, net of issuance costs	19,343		0
Proceeds from exercise of options and warrants	3,432		68
Principle element of lease payments	(94)		(72)
Net cash provided by financing activities	22,681		793
NET DECREASE IN CASH AND CASH EQUIVALENTS	18,333		(5,418)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	8,593		15,185
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	26,926		9,767
Adjustments required to reflect net cash used in operating activities:
Depreciation	150		101
Change in fair value of financial liabilities at fair value through profit or loss	9,530		(318)
Financial expenses	19		19
Net changes in severance pay obligation	7		5
Share-based compensation	950		777
Total adjustments	10,656		584
Changes in working capital:
Decrease in accounts receivables	139		278
Increase in other current assets	(602)		(504)
Increase (decrease) in accounts payable and accruals:
Trade	125		(285)
Other	143		(34)
Decrease in contract liabilities	(150)		(94)
Changes in working capital	(345)		(639)
Cash used for operating activities -
Interest paid	(17)		(19)
Cash used for operating activities	10,294		(74)
Supplementary information on investing and financing activities not involving cash flows:
Right of use assets obtained in exchange for new operating lease liabilities	31		23
Exercise of warrants	9,567		0
Cashless exercise of warrants		[1]	0
Vested restricted shares units		[1]	$ 0
[1]	Represents an amount less than one thousand US dollars.

GENERAL INFORMATION

GENERAL INFORMATION	6 Months Ended
	Jun. 30, 2021
Disclosure of general information [abstract]
GENERAL INFORMATION	NOTE 1 - GENERAL INFORMATION: a. General: 1) Entera Bio Ltd. (collectively with its subsidiary, the "Company") was incorporated on September 30, 2009 and commenced operation on June 1, 2010. On January 8, 2018 the Company incorporated Entera Bio Inc., a fully owned subsidiary incorporated in Delaware USA. The Company is a leader in the development and commercialization of orally delivered large molecule therapeutics for use in areas with significant unmet medical need where adoption of injectable therapies is limited due to cost, convenience and compliance challenges for patients. The Company’s most advanced product candidates, EB613 for the treatment of osteoporosis and EB612 for the treatment of hypoparathyroidism, are based on its proprietary technology platform and are both in Phase 2 clinical development. The Company also licenses its technology to biopharmaceutical companies for use with their proprietary compounds and, to date, has completed one such collaboration with Amgen Inc. 2) The Company's securities have been listed for trading on the Nasdaq Capital Market since the Company’s initial public offering in July 2018, where a total of 1,400,000 new ordinary shares were issued in consideration of net proceeds of $9.6 million, after deducting offering expenses. b. Since the Company is engaged in research and development activities, it has not derived significant income from its activities and has incurred accumulated losses in the amount of $87.5 million through June 30, 2021 and negative cash flows from operating activities. The Company's management is of the opinion that its available funds as of June 30, 2021 will allow the Company to operate under its current plans into the fourth quarter of 2022. These factors raise substantial doubt as to the Company's ability to continue as a going concern. Management is in the process of evaluating various financing alternatives in the public or private equity markets, government grants or through license of the Company's technology to additional external parties through partnerships or research collaborations as the Company will need to finance future research and development activities, general and administrative expenses and working capital through fund raising. However, there is no certainty about the Company's ability to obtain such funding. The financial information has been prepared on a going concern basis, which assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. If the Company does not raise the requisite funds, it will need to curtail or cease operations. These financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern. c. Approval of financial statements These financial statements were approved by the Company's Board of Directors on August 12, 2021.

BASIS OF PREPARATION

BASIS OF PREPARATION	6 Months Ended
	Jun. 30, 2021
BASIS OF PREPARATION	NOTE 2 - BASIS OF PREPARATION The Company’s condensed consolidated interim financial statements as of June 30, 2021 and for the six months then ended (the “interim financial statements”) have been prepared in accordance with International Accounting Standard No. 34, “Interim Financial Reporting” (“IAS 34”). These interim financial statements, which are unaudited, do not include all disclosures necessary for a complete presentation of financial position, comprehensive loss, changes in shareholders' equity and cash flows in conformity with generally accepted accounting principles. The condensed consolidated interim financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2020 and for the year then ended and their accompanying notes, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB. The results of operations for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the entire fiscal year or for any other interim period. The accounting policies and calculation methods applied in the preparation of the interim financial statements are consistent with those applied in the preparation of the annual financial statements as of December 31, 2020 and for the year then ended.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES Loss per ordinary share Basic and diluted loss per share are computed by dividing the loss for the period by the weighted average number of ordinary shares outstanding for each period. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the six months ended June 30, 2021 and 2020 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,804,106 and 7,613,633 for the six months ended June 30, 2021 and 2020 respectively. All outstanding options and warrants have been excluded from the calculation of the diluted profit per share for the three months ended June 30, 2021 and 2020 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,718,887 and 7,864,992 for the three months ended June 30, 2021 and 2020 respectively.

FINANCIAL RISK FACTORS

FINANCIAL RISK FACTORS	6 Months Ended
	Jun. 30, 2021
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL RISK FACTORS	NOTE 4 - FINANCIAL RISK FACTORS The Company's activities expose it to a variety of financial risks. The condensed interim financial statements do not include all financial risk information and disclosures required in the annual financial statements; they should be read in conjunction with the Company's annual financial statements as of December 31, 2020. There have been no changes in the risk management policies since the year end.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement [Abstract]
FAIR VALUE MEASUREMENT	NOTE 5 - FAIR VALUE MEASUREMENT The Company measures fair value and discloses fair value measurements for financial assets. Fair value is based on the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. 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. As of June 30, 2021, and December 31, 2020, the fair value of cash and cash equivalents, accounts receivable, other receivables and accounts payable approximates their carrying value. Financial liabilities at fair value through profit or loss Financial liabilities at amortized cost Total U.S. dollars in thousands As of June 30, 2021: Trade and other payable — 1,762 1,762 Warrants to purchase ordinary shares (level 1) (1) 1,395 — 1,395 Lease liabilities — 371 371 1,395 2,133 3,528 As of December 31, 2020: Trade and other payable — 1,494 1,494 Warrants to purchase ordinary shares (level 1) (1) 239 — 239 Warrants to purchase ordinary shares (level 3) (2) 1,193 — 1,193 Lease liabilities 432 432 1,432 1,926 3,358 (1) Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2021. (2) Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation) as of June 30, 2020. As of June 30, 2021,

SHARE CAPITAL

SHARE CAPITAL	6 Months Ended
	Jun. 30, 2021
Disclosure of classes of share capital [abstract]
SHARE CAPITAL	NOTE 6 - SHARE CAPITAL: 1. Equity: a. In February and March 2021, the Company issued additional 2,546,265 ordinary shares for net proceeds of $9.9 million at a weighted average price of $3.99 per ordinary share through the Company’s ATM Program established in July 2020. b. In March 2021, 4,500 tradable warrants were exercised into 2,250 ordinary shares of the Company for a total consideration of $13 thousand at an exercise price of $5.85. c. During the six months ended June 30, 2021, several employees and service providers exercised 99,974 options into 99,974 ordinary shares of the Company for a total consideration of $274 thousand at a weighted average price of $2.76. d. On April 21, 2021, upon satisfaction of the sale price condition pursuant to the subscription agreement signed in December 2019, the Company’s Board of Directors decided to accelerate the termination date of the Investors and Broker warrants issued in December 2019 and February 2020. In accordance with the terms of the agreement, as of the notice date and until June 23, 2021 (the “Early Termination Exercise Period”), the holders may exercise their warrants and following such Early Termination Exercise Period, these warrants shall be deemed terminated. e. On May 7, 2021, the Company entered into new At-the-market equity program (the "Second ATM Program") that allows the Company to issue up to additional 5 million ordinary shares, at the Company's discretion. Distributions of the ordinary shares through the Second ATM Program were made pursuant to the terms of an equity distribution agreement dated May 7, 2021 among the Company and B. Riley Securities, Inc (the "Agent"). In June 2021, the Company issued 1,400,000 ordinary shares for net proceeds of $9.5 million at a weighted average price of $7.02 per ordinary share through the Company’s Second ATM Program established in May 2021. 2. Options Grants a. On January 4, 2021 options to purchase 1,314,218 ordinary shares were granted to the Chief Executive officer of the Company, with an exercise price of $1.24. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. The grant was subject to the approval by the shareholders of the Company, which approved the grant in March 2021. The fair value of the options at the date of grant was $1,320 thousand. b. On April 7, 2021, the Company’s Board of Directors approved the following option grants: i. Options grant to purchase 150,000 ordinary shares to the new US-based CFO, with an exercise price of $3.61 per share. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. This grant is subject to shareholders approval. The fair value of the options at the date of grant was $647 thousand. ii. Options grants to purchase 213,000 ordinary shares to certain employees and 70,000 options granted to service providers, with an exercise price of $3.61 per share. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. The fair value of the options at the date of grant was $646 thousand. iii. Options grant to purchase 33,368 ordinary shares to a non-executive director of the Company, with an exercise price of $3.61. The options will vest over 3 years in twelve equal quarterly instalments starting on the vesting commencement date. This grant is subject to shareholders approval. The fair value of the options at the date of grant was $142 thousand. c. On April 21, 2021, options to purchase 345,000 ordinary shares were granted to several executive officers of the Company, with an exercise price of $3.15. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. This grant is subject to shareholders approval. The fair value of the options at the date of grant was $1,532 thousand.

REVENUE FROM COLLABORATION AND

REVENUE FROM COLLABORATION AND LICENSE AGREEMENT	6 Months Ended
	Jun. 30, 2021
Revenue From Collaboration And License Agreement [Abstract]
REVENUE FROM COLLABORATION AND LICENSE AGREEMENT	NOTE 7 - REVENUE FROM COLLABORATION AND LICENSE AGREEMENT During the second quarter, the Company extended the agreement of the research collaboration and license agreement (the “Amgen Agreement”) with Amgen Inc. Pursuant to the terms, Amgen is required to pay for the third year of preclinical R&D services to be provided by the Company for a total consideration of $450 thousand and reimburse the Company for further expenses as shall be agreed between the parties.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENTS a. In July and August 2021, the Company issued 440,463 ordinary shares for net proceeds of $2.5 million at a weighted average price of $5.84 per ordinary share through the Company’s Second ATM Program established in May 2021. b. In July 2021, a former employee exercised 20,257 options into 20,257 ordinary shares of the Company for a total consideration of $51 thousand at a weighted average price of $2.53.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
Loss per ordinary share	Loss per ordinary share Basic and diluted loss per share are computed by dividing the loss for the period by the weighted average number of ordinary shares outstanding for each period. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the six months ended June 30, 2021 and 2020 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,804,106 and 7,613,633 for the six months ended June 30, 2021 and 2020 respectively. All outstanding options and warrants have been excluded from the calculation of the diluted profit per share for the three months ended June 30, 2021 and 2020 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,718,887 and 7,864,992 for the three months ended June 30, 2021 and 2020 respectively.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement [Abstract]
Schedule of Fair Value of Financial Instruments	Financial liabilities at fair value through profit or loss Financial liabilities at amortized cost Total U.S. dollars in thousands As of June 30, 2021: Trade and other payable — 1,762 1,762 Warrants to purchase ordinary shares (level 1) (1) 1,395 — 1,395 Lease liabilities — 371 371 1,395 2,133 3,528 As of December 31, 2020: Trade and other payable — 1,494 1,494 Warrants to purchase ordinary shares (level 1) (1) 239 — 239 Warrants to purchase ordinary shares (level 3) (2) 1,193 — 1,193 Lease liabilities 432 432 1,432 1,926 3,358 (1) Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2021. (2) Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation) as of June 30, 2020. As of June 30, 2021,

GENERAL INFORMATION (Details)

GENERAL INFORMATION (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2018	Jun. 30, 2021	Dec. 31, 2020
Statement [Line Items]
Number of shares issued		28,286,111	21,057,922
Accumulated losses		$ 87,537	$ 72,895
IPO [Member]
Statement [Line Items]
Number of shares issued	1,400,000
Proceeds from issuing shares	$ 9,600

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
Number of ordinary shares excluded from calculation of diluted loss per share	7,718,887	7,864,992	7,804,106	7,613,633

FAIR VALUE MEASUREMENT (Schedul

FAIR VALUE MEASUREMENT (Schedule of Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Trade and other payable		$ 1,762	$ 1,494
Warrants to purchase ordinary shares (level 1)	[1]	1,395	239
Warrants to purchase ordinary shares (level 3)	[2]		1,193
Lease liabilities		371	432
Financial liabilities		3,528	3,358
Financial liabilities at fair value through profit or loss [Member]
Disclosure of detailed information about financial instruments [line items]
Trade and other payable		0	0
Warrants to purchase ordinary shares (level 1)	[1]	1,395	239
Warrants to purchase ordinary shares (level 3)	[2]		1,193
Lease liabilities		0
Financial liabilities		1,395	1,432
Financial liabilities at amortized cost [Member]
Disclosure of detailed information about financial instruments [line items]
Trade and other payable		1,762	1,494
Warrants to purchase ordinary shares (level 1)	[1]	0	0
Warrants to purchase ordinary shares (level 3)	[2]		0
Lease liabilities		371	432
Financial liabilities		$ 2,133	$ 1,926
[1]	Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2021.
[2]	Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation) as of June 30, 2020. As of June 30, 2021,

SHARE CAPITAL (Details)

SHARE CAPITAL (Details)	Apr. 07, 2021USD ($)$ / shares	Jan. 04, 2021USD ($)$ / shares	Jun. 30, 2021USD ($)$ / sharesshares	Apr. 21, 2021USD ($)$ / shares	Mar. 31, 2021USD ($)$ / sharesshares	Feb. 28, 2021USD ($)$ / shares	Jun. 30, 2021USD ($)Share$ / sharesshares	Aug. 31, 2021shares	Jul. 31, 2021shares	Dec. 31, 2020shares
Disclosure of classes of share capital [line items]
Number of shares issued | shares			28,286,111				28,286,111			21,057,922
Warrants [Member]
Disclosure of classes of share capital [line items]
Warrants converted into ordinary shares | shares							3,172,800
Warrants granted to purchase ordinary shares | shares							3,300,645
Total consideration							$ 3,145,000
Exercise price | $ / shares							$ 1.05
Tradable warrants [Member]
Disclosure of classes of share capital [line items]
Warrants converted into ordinary shares | shares					2,250
Warrants granted to purchase ordinary shares | shares					4,500
Total consideration					$ 13,000
Exercise price | $ / shares					$ 5.85
ATM Program [Member]
Disclosure of classes of share capital [line items]
Number of shares issued | shares					2,546,265			440,463	440,463
Proceeds from issuing shares					$ 9,900,000	$ 9,900,000
Share issue price per share | $ / shares					$ 3.99	$ 3.99
Second ATM Program [Member]
Disclosure of classes of share capital [line items]
Number of shares issued | shares			1,400,000				1,400,000
Proceeds from issuing shares			$ 9,500,000
Share issue price per share | $ / shares			$ 7.02				$ 7.02
Chief Executive officer [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement		1,314,218
Exercise price | $ / shares		$ 1.24
Options vesting description		The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Fair value of options		$ 1,320,000
US-based CFO [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement	150,000
Exercise price | $ / shares	$ 3.61
Options vesting description	The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Fair value of options	$ 647,000
Certain Employees [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement	70,000
Exercise price | $ / shares	$ 3.61
Options vesting description	The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Service Provider [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement	213,000
Exercise price | $ / shares	$ 3.61
Several Employees And Service Provider [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement | Share							99,974
Total consideration							$ 274,000
Exercise price | $ / shares							$ 2.76
Fair value of options	$ 646,000
Certain Executive Officers [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement				345,000
Exercise price | $ / shares				$ 3.15
Options vesting description				The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Fair value of options				$ 1,532,000
Non Executive Director [Member]
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement	33,368
Exercise price | $ / shares	$ 3.61
Options vesting description	The options will vest over 3 years in twelve equal quarterly instalments starting on the vesting commencement date.
Fair value of options	$ 142,000

REVENUE FROM COLLABORATION AN_2

REVENUE FROM COLLABORATION AND LICENSE AGREEMENT (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)
Revenue From Collaboration And License Agreement [Abstract]
Revenue from research collaboration and license agreement	$ 450

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	1 Months Ended
	Aug. 31, 2021USD ($)$ / sharesshares	Jul. 31, 2021USD ($)shares$ / shares	Jun. 30, 2021shares	Mar. 31, 2021shares	Dec. 31, 2020shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued			28,286,111		21,057,922
Former employee [Member]
Disclosure of non-adjusting events after reporting period [line items]
Options granted/exercised to purchase ordinary shares		20,257
Number of shares issued		20,257
Proceeds from ordinary shares issued | $		$ 51
Weighted average exercise price | $ / shares		$ 2.53
Second ATM Program [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued	440,463	440,463		2,546,265
Proceeds from ordinary shares issued | $	$ 2,500	$ 2,500
Weighted average exercise price | $ / shares	$ 5.84	$ 5.84