Entera Bio (ENTX) 10-Q 11 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Cover [Abstract]
Entity Registrant Name	ENTERA BIO LTD.
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Entity Central Index Key	0001638097
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		28,813,952
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Shell Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation, State or Country Code	L3
Entity Address, Address Line One	Kiryat Hadassah
Entity Address, Address Line Two	Minrav Building – Fifth Floor
Entity Address, City or Town	Jerusalem
Entity Address, Postal Zip Code	9112002
Entity Address, Country	IL
City Area Code	972
Local Phone Number	2-532-7151
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38556
Entity Tax Identification Number	00-0000000
Trading Symbol	ENTX
Security Exchange Name	NASDAQ
Title of 12(b) Security	Ordinary Shares

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents		$ 9,135	$ 12,309
Accounts receivable		29	246
Prepaid expenses and other current assets		650	294
TOTAL CURRENT ASSETS		9,814	12,849
NON-CURRENT ASSETS:
Property and equipment, net		122	139
Operating lease right-of-use assets		460	90
Deferred income taxes		43	43
Funds in respect of employee rights upon retirement		6	6
TOTAL NON-CURRENT ASSETS		631	278
TOTAL ASSETS		10,445	13,127
CURRENT LIABILITIES:
Accounts payable		240	17
Accrued expenses and other payables		1,485	1,233
Current maturities of operating lease		140	91
TOTAL CURRENT LIABILITIES		1,865	1,341
NON-CURRENT LIABILITIES:
Operating lease liabilities		316	0
Liability for employee rights upon retirement		32	32
TOTAL NON-CURRENT LIABILITIES		348	32
TOTAL LIABILITIES		2,213	1,373
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.0000769 par value: Authorized - as of June 30, 2023 and December 31, 2022, 140,010,000 shares; issued and outstanding - as of June 30, 2023 and December 31, 2022, 28,813,952 and 28,809,922 shares, respectively	[1]
Additional paid-in capital		108,203	107,210
Accumulated other comprehensive income		41	41
Accumulated deficit		(100,012)	(95,497)
TOTAL SHAREHOLDERS' EQUITY		8,232	11,754
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$ 10,445	$ 13,127
[1]Represents an amount less than one thousand US dollars

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - ₪ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Ordinary share, par value	₪ 0.0000769	₪ 0.0000769
Ordinary shares, authorized	140,010,000	140,010,000
Ordinary shares, issued	28,813,952	28,809,922
Ordinary shares, outstanding	28,813,952	28,809,922

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
REVENUES	$ 0	$ 44	$ 0	$ 112
COST OF REVENUES	0	33	0	87
GROSS PROFIT	0	11	0	25
OPERATING EXPENSES:
Research and development	1,209	1,394	2,140	3,084
General and administrative	1,135	1,880	2,429	4,052
Other income	(14)	(14)	(27)	(27)
TOTAL OPERATING EXPENSES	2,330	3,260	4,542	7,109
OPERATING LOSS	2,330	3,249	4,542	7,084
FINANCIAL INCOME, NET	(5)	(60)	(27)	(104)
LOSS BEFORE INCOME TAX	2,325	3,189	4,515	6,980
INCOME TAX BENEFIT	0	(4)	0	(11)
NET LOSS	$ 2,325	$ 3,185	$ 4,515	$ 6,969
LOSS PER SHARE BASIC	$ 0.08	$ 0.11	$ 0.16	$ 0.24
LOSS PER SHARE DILUTED	$ 0.08	$ 0.11	$ 0.16	$ 0.24
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC LOSS PER SHARE	28,812,375	28,808,023	28,811,162	28,806,217
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF DILUTED LOSS PER SHARE	28,812,375	28,808,023	28,811,162	28,806,217

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Ordinary shares [Member]		Additional paid-in capital [Member]	Accumulated other Comprehensive income [Member]	Accumulated deficit [Member]	Total
Balance at Dec. 31, 2021		[1]	$ 104,950	$ 41	$ (82,426)	$ 22,565
Balance (in shares) at Dec. 31, 2021	28,804,411
CHANGES DURING THE YEAR ENDED
Net loss	$ 0		0	0	(6,969)	(6,969)
Exercise of options to ordinary shares		[1]	13	0	0	13
Exercise of options to ordinary shares (in shares)	5,511
Share-based compensation	$ 0		1,660	0	0	1,660
Balance at Jun. 30, 2022		[1]	106,623	41	(89,395)	17,269
Balance (in shares) at Jun. 30, 2022	28,809,922
Balance at Mar. 31, 2022		[1]	105,914	41	(86,210)	19,745
Balance (in shares) at Mar. 31, 2022	28,804,411
CHANGES DURING THE YEAR ENDED
Net loss	$ 0		0	0	(3,185)	(3,185)
Exercise of options to ordinary shares		[1]	13	0	0	13
Exercise of options to ordinary shares (in shares)	5,511
Share-based compensation	$ 0		696	0	0	696
Balance at Jun. 30, 2022		[1]	106,623	41	(89,395)	17,269
Balance (in shares) at Jun. 30, 2022	28,809,922
Balance at Dec. 31, 2022		[1]	107,210	41	(95,497)	11,754
Balance (in shares) at Dec. 31, 2022	28,809,922
CHANGES DURING THE YEAR ENDED
Net loss	$ 0		0	0	(4,515)	(4,515)
Issuance of shares under the ATM program, net of issuance costs		[1]	5	0	0	5
Issuance of shares under the ATM program, net of issuance costs (in shares)	4,030
Share-based compensation	$ 0		988	0	0	988
Balance at Jun. 30, 2023		[1]	108,203	41	(100,012)	8,232
Balance (in shares) at Jun. 30, 2023	28,813,952
Balance at Mar. 31, 2023		[1]	107,726	41	(97,687)	10,080
Balance (in shares) at Mar. 31, 2023	28,809,922
CHANGES DURING THE YEAR ENDED
Net loss	$ 0		0	0	(2,325)	(2,325)
Issuance of shares under the ATM program, net of issuance costs		[1]	5	0	0	5
Issuance of shares under the ATM program, net of issuance costs (in shares)	4,030
Share-based compensation	$ 0		472	0	0	472
Balance at Jun. 30, 2023		[1]	$ 108,203	$ 41	$ (100,012)	$ 8,232
Balance (in shares) at Jun. 30, 2023	28,813,952
[1]Represents an amount less than one thousand U.S. dollars.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,325)	$ (3,185)	$ (4,515)	$ (6,969)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation			29	32
Deferred income taxes			0	(63)
Share-based compensation			988	1,660
Finance income, net			(6)	(71)
Changes in operating asset and liabilities:
Decrease (increase) in accounts receivable			217	(42)
Increase in other current assets			(356)	(704)
Increase (decrease) in accounts payable			223	(57)
Increase (decrease) in accrued expenses and other payables			252	(1,390)
Decrease in contract liabilities			0	(15)
Net cash used in operating activities			(3,168)	(7,619)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment			(12)	(42)
Net cash used in investing activities			(12)	(42)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares under the ATM program, net of issuance costs			5	0
Exercise of options and warrants into shares			0	13
Net cash provided by financing activities			5	13
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS			(3,175)	(7,648)
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT BEGINNING OF THE PERIOD			12,376	24,964
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT END OF THE PERIOD	9,201	17,316	9,201	17,316
Reconciliation in amounts on consolidated balance sheets:
Cash and cash equivalents	9,135	17,279	9,135	17,279
Restricted deposits included in other current assets	66	37	66	37
Total cash and cash equivalents and restricted deposits	$ 9,201	$ 17,316	9,201	17,316
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Operating lease right of use assets obtained in exchange for new operating lease liabilities			$ 449	$ 0

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 - DESCRIPTION OF BUSINESS a. Entera Bio Ltd. (collectively with its subsidiary, the "Company") was incorporated on September 30, 2009 under the laws of the State of Israel and commenced operation on June 1, 2010. On January 8, 2018, the Company incorporated Entera Bio Inc., a wholly owned subsidiary incorporated in Delaware United States. 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 clinical development. Additionally, the Company intends to license its oral delivery technology to biopharmaceutical companies for use with their proprietary compounds. b. The Company's ordinary shares, NIS 0.0000769 par value per share (“ordinary shares”), have been listed on the Nasdaq Capital Market since July 2018 under the symbol “ENTX”. c. Because the Company is engaged in research and development activities, it has not derived significant income from its activities and has incurred an accumulated deficit in the amount of $100.0 million as of June 30, 2023 and negative cash flows from operating activities. The Company's management is of the opinion that its available funds as of June 30, 2023 will allow the Company to operate under its current plans into the third quarter of 2024. This assumes the use of the Company’s capital to fund its ongoing operations, including R&D and the completion of the Phase 1 study related to the new formulation EB612. This does not include the capital required to fund the Company's proposed Phase 3 study for EB613 in osteoporosis and the related comparative study. 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, debt financing and strategic 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. These condensed consolidated financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES a. Basis of presentation of the financial statements These unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial statements. Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated 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, 2023, the consolidated results of operations and statements of changes in shareholders' equity for the three and six-month periods ended June 30, 2023 and 2022 and cash flows for the six-month periods ended June 30, 2023 and 2022. The consolidated results for the three and six-month periods ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2022, as filed with the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2023. The comparative balance sheet at December 31, 2022 has been derived from the audited annual financial statements at that date but does not include all disclosures required by U.S. GAAP for annual financial statements. b. Loss per share Basic loss per share is computed on the basis of net loss for the period divided by the weighted average number of outstanding ordinary shares during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and 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 7,360,374 shares and 6,326,180 shares for the six months ended June 30, 2023 and 2022, respectively and 7,604,195 shares and 6,473,863 shares for the three months ended June 30, 2023 and 2022, respectively, because the effect would have been anti-dilutive. c. Newly issued and recently adopted accounting pronouncements: Recently issued accounting pronouncements adopted 1) In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses—Measurement of Credit Losses on Financial Instruments.” This guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for smaller reporting companies (as defined by the SEC) for the fiscal year beginning on January 1, 2023, including interim periods within that year. The adoption of this guidance did not have material impact on the Company’s consolidated financial statements.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2023
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 3 - SHARE-BASED COMPENSATION a. On January 2, 2023, options to purchase an aggregate of 534,246 ordinary shares were granted to six non-executive board members with an exercise price of $0.73 per share which was the share price on the grant date. The options vest over one year in four equal quarterly installments starting on the date of grant. This grant was approved by the shareholders of the Company on October 4, 2021. The fair value of the options at January 2, 2023 was $253. b. On April 24, 2023 , The fair value of each option granted is estimated at the date of grant using the Black-Scholes option-pricing model, with the following assumptions: Six months ended June 30, 2023 Exercise price $0.73-$0.79 Dividend yield - Expected volatility 74%-76% Risk-free interest rate 3.58%-3.98% Expected life - in years 5.3-6.11 c. On April 24, 2023 , d. On June 4, 2023, options to purchase an aggregate of 33,638 ordinary shares were granted to non-executive board member with an exercise price of $0.89 per share which was the share price on that day. The options will vest over three years in 12 equal quarterly installments starting on the date of grant. This grant is subject to the Company's shareholders' approval.

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	6 Months Ended
	Jun. 30, 2023
Supplementary Financial Statement Information [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	NOTE 4 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: Balance sheets: June 30, December 31, 2023 2022 Prepaid expenses and other current assets: Prepaid expenses 296 86 Other current assets 354 208 650 294 June 30, December 31, 2023 2022 Accrued expenses and other payables: Employees and employees related 170 154 Provision for vacation 193 146 Accrued expenses 1,122 933 1,485 1,233

EVENTS DURING THE PERIOD

EVENTS DURING THE PERIOD	6 Months Ended
	Jun. 30, 2023
Events During Period [Abstract]
EVENTS DURING THE PERIOD	NOTE 5 - EVENTS DURING THE PERIOD a. In April 2023, the Company entered into an amendment to its office lease agreement from 2014 to extend the period of the lease agreement for additional five years, expiring on June 30, 2028, with two options for early termination by the Company subject to a notice period. The monthly lease fee is a total of $15. As of June 30, 2023, the maturity of lease liabilities under our non-cancelable operating leases were as follows: 2023 96 2024 180 2025 180 2026 86 Total future minimum lease payments 542 Less: interest (86) Present value of operating lease liabilities 456 b. On December 10, 2018, the Company entered into a research collaboration and license agreement with Amgen (the “Amgen Agreement”) for the use of the Company’s oral delivery platform in the field of inflammatory disease and other serious illnesses. Pursuant to the Amgen Agreement, the Company and Amgen had agreed to use the Company’s proprietary drug delivery platform to develop oral formulations for one preclinical large molecule program that Amgen had selected. Additionally, the Company had granted Amgen an exclusive, worldwide, sublicensable license under certain of its intellectual property relating to its drug delivery technology to develop, manufacture and commercialize the applicable products. On May 2, 2023, the Company and Amgen agreed to terminate the Amgen Agreement in accordance with its terms, effective on such date. Neither party incurred any termination penalty or fees in connection with the termination of the Amgen Agreement.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 6 - SUBSEQUENT EVENTS a. In connection with the Company’s initial public offering (“IPO”) in July 2018, the Company issued 1,400,000 IPO warrants to purchase 700,000 ordinary shares, and these warrants were listed for trading on Nasdaq Capital Market (“Nasdaq”) since August 12, 2018. The IPO warrants were immediately exercisable at an initial exercise price of $8.40 per ordinary share for a period of five years, unless earlier repurchased by the Company as described in the warrant agreement. These IPO warrants expired on July 2, 2023, in accordance with their original terms, and Nasdaq removed them from listing.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of presentation of the financial statements	a. Basis of presentation of the financial statements These unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial statements. Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated 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, 2023, the consolidated results of operations and statements of changes in shareholders' equity for the three and six-month periods ended June 30, 2023 and 2022 and cash flows for the six-month periods ended June 30, 2023 and 2022. The consolidated results for the three and six-month periods ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2022, as filed with the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2023. The comparative balance sheet at December 31, 2022 has been derived from the audited annual financial statements at that date but does not include all disclosures required by U.S. GAAP for annual financial statements.
Loss per share	b. Loss per share Basic loss per share is computed on the basis of net loss for the period divided by the weighted average number of outstanding ordinary shares during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and 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 7,360,374 shares and 6,326,180 shares for the six months ended June 30, 2023 and 2022, respectively and 7,604,195 shares and 6,473,863 shares for the three months ended June 30, 2023 and 2022, respectively, because the effect would have been anti-dilutive.
Newly issued and recently adopted accounting pronouncements	c. Newly issued and recently adopted accounting pronouncements: Recently issued accounting pronouncements adopted 1) In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses—Measurement of Credit Losses on Financial Instruments.” This guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for smaller reporting companies (as defined by the SEC) for the fiscal year beginning on January 1, 2023, including interim periods within that year. The adoption of this guidance did not have material impact on the Company’s consolidated financial statements.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2023
Share-based Payment Arrangement [Abstract]
Schedule of fair value assumptions of option granted using Black-Scholes option-pricing model	Six months ended June 30, 2023 Exercise price $0.73-$0.79 Dividend yield - Expected volatility 74%-76% Risk-free interest rate 3.58%-3.98% Expected life - in years 5.3-6.11

SUPPLEMENTARY FINANCIAL STATE_2

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Table)	6 Months Ended
	Jun. 30, 2023
Supplementary Financial Statement Information [Abstract]
Schedule of prepaid expenses and other current assets	June 30, December 31, 2023 2022 Prepaid expenses and other current assets: Prepaid expenses 296 86 Other current assets 354 208 650 294
Schedule of accounts payable and accrued liabilities	June 30, December 31, 2023 2022 Accrued expenses and other payables: Employees and employees related 170 154 Provision for vacation 193 146 Accrued expenses 1,122 933 1,485 1,233

EVENTS DURING THE PERIOD (Table

EVENTS DURING THE PERIOD (Tables)	6 Months Ended
	Jun. 30, 2023
Events During Period [Abstract]
Schedule of maturity of lease liabilities under our non-cancelable operating leases	2023 96 2024 180 2025 180 2026 86 Total future minimum lease payments 542 Less: interest (86) Present value of operating lease liabilities 456

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Detail Textuals) $ in Thousands	Jun. 30, 2023 ₪ / shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 ₪ / shares	Dec. 31, 2022 USD ($)
General [Line Items]
Ordinary share, par value | ₪ / shares	₪ 0.0000769		₪ 0.0000769
Accumulated deficit | $		$ 100,012		$ 95,497

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Significant Accounting Policies [Line Items]
Number of antidilutive securities excluded from computation of earnings per share	7,604,195	6,473,863	7,360,374	6,326,180

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended
	Jun. 04, 2023	Jan. 02, 2023	Apr. 24, 2023
Six non-executive board members [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options at the date of grant		$ 253
Number of options to purchase ordinary shares		534,246
Exercise price of options granted		$ 0.73
Vestion period		1 year
Description of terms of share-based payment arrangement		The options vest over one year in four equal quarterly installments starting on the date of grant. This grant was approved by the shareholders of the Company on October 4, 2021.
Non-executive director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares	33,638
Exercise price of options granted	$ 0.89
Vestion period	3 years
Description of terms of share-based payment arrangement	e options will vest over three years in 12 equal quarterly installments starting on the date of grant.
Executive Officer and Service Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options at the date of grant			$ 485
Number of options to purchase ordinary shares			881,000
Exercise price of options granted			$ 0.795
Vestion period			4 years
Description of terms of share-based payment arrangement			These options vest over four 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.
Executive Officer and Service Provider [Member] | Vest on first anniversary of date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25%
Executive Officer and Service Provider [Member] | Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			75%
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares			350,000
Exercise price of options granted			$ 0.795
Vestion period			4 years
Description of terms of share-based payment arrangement			These options vest over four 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.
Chief Executive Officer [Member] | Vest on first anniversary of date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25%
Chief Executive Officer [Member] | Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			75%

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.73
Expected volatility	74%
Risk-free interest rate	3.58%
Expected life - in years	5 years 3 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.79
Expected volatility	76%
Risk-free interest rate	3.98%
Expected life - in years	6 years 1 month 9 days

SUPPLEMENTARY FINANCIAL STATE_3

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid expenses and other current assets:
Prepaid expenses	$ 296	$ 86
Other current assets	354	208
Prepaid expenses and other current assets, total	650	294
Accrued expenses and other payables:
Employees and employees related	170	154
Provision for vacation	193	146
Accrued expenses	1,122	933
Accrued expenses and other payables, total	$ 1,485	$ 1,233

EVENTS DURING THE PERIOD (Detai

EVENTS DURING THE PERIOD (Detail Textuals) - Office Lease Agreement [Member] - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2023	Jun. 30, 2023
Events During Period [Line Items]
Agreement term	5 years
Agreement termination description	two options for early termination by the Company
Agreement expiration date	June 30, 2028
Monthly lease fee	$ 15
Lessee’s incremental borrowing rate		13.84%

EVENTS DURING THE PERIOD (Det_2

EVENTS DURING THE PERIOD (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Events During Period [Abstract]
2023	$ 96
2024	180
2025	180
2026	86
Total future minimum lease payments	542
Less: interest	(86)
Present value of operating lease liabilities	$ 456

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - IPO [Member] - Warrant [Member]	1 Months Ended
	Jul. 31, 2018 ₪ / shares shares
Subsequent Event [Line Items]
Number of warrants issued	1,400,000
Number of ordinary shares will be purchased by exercising warrants	700,000
Exercise price of warrants issued | ₪ / shares	₪ 8.4
Term of warrants issued	5 years