Entera Bio (ENTX) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 06, 2024
Cover [Abstract]
Entity Registrant Name	ENTERA BIO LTD.
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
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		35,785,309
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Shell Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	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	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 9,189	$ 11,019
Other current assets	562	238
TOTAL CURRENT ASSETS	9,751	11,257
NON-CURRENT ASSETS:
Property and equipment, net	87	100
Operating lease right-of-use assets	381	388
Deferred income taxes	14	14
Funds in respect of employee rights upon retirement	6	6
TOTAL NON-CURRENT ASSETS	488	508
TOTAL ASSETS	10,239	11,765
CURRENT LIABILITIES:
Accounts payable	66	83
Accrued expenses and other payables	902	874
Current maturities of operating lease	153	134
TOTAL CURRENT LIABILITIES	1,121	1,091
NON-CURRENT LIABILITIES:
Operating lease liabilities	224	256
Liability for employee rights upon retirement	31	32
TOTAL NON-CURRENT LIABILITIES	255	288
TOTAL LIABILITIES	1,376	1,379
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.0000769 par value: Authorized - as of March 31, 2024 and December 31, 2023, 140,010,000 shares; issued and outstanding as of March 31, 2024 and December 31, 2023, 35,526,281 and 35,476,341 shares, respectively	1	1
Additional paid-in capital	115,224	114,730
Accumulated other comprehensive income	41	41
Accumulated deficit	(106,403)	(104,386)
TOTAL SHAREHOLDERS' EQUITY	8,863	10,386
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 10,239	$ 11,765

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Mar. 31, 2024	Dec. 31, 2023
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	35,526,281	35,476,341
Ordinary shares, outstanding	35,526,281	35,476,341

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING EXPENSES:
Research and development	$ 735	$ 931
General and administrative	1,327	1,294
Other income	0	(13)
TOTAL OPERATING EXPENSES	2,062	2,212
OPERATING LOSS	2,062	2,212
FINANCIAL INCOME, NET	(45)	(22)
NET LOSS	$ 2,017	$ 2,190
BASIC LOSS PER SHARE	$ 0.05	$ 0.08
DILUTED LOSS PER SHARE	$ 0.05	$ 0.08
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC LOSS PER SHARE	36,735,429	28,809,922
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF DILUTED LOSS PER SHARE	36,735,429	28,809,922

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, 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	(2,190)	(2,190)
Share-based compensation	0		516	0	0	516
Balance at Mar. 31, 2023		[1]	107,726	41	(97,687)	10,080
Balance (in shares) at Mar. 31, 2023	28,809,922
Balance at Dec. 31, 2023	$ 1	[1]	114,730	41	(104,386)	10,386
Balance (in shares) at Dec. 31, 2023	35,476,341
CHANGES DURING THE YEAR ENDED
Net loss			0	0	(2,017)	(2,017)
Exercise of warrants to ordinary shares		[1]	30	0	0	30
Exercise of warrants to ordinary shares (in shares)	29,940
Share-based compensation			464	0	0	464
Vested restricted share units		[1]	0	0	0	0
Vested restricted share units (in shares)	20,000
Balance at Mar. 31, 2024	$ 1	[1]	$ 115,224	$ 41	$ (106,403)	$ 8,863
Balance (in shares) at Mar. 31, 2024	35,526,281
[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
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,017)	$ (2,190)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	13	14
Share-based compensation	464	516
Finance income, net	(9)	(3)
Changes in operating asset and liabilities:
Decrease in accounts receivable	0	217
Increase in other current assets	(324)	(359)
Increase (decrease) in accounts payable	(17)	133
Increase in accrued expenses and other payables	28	63
Net cash used in operating activities	(1,862)	(1,609)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	0	(11)
Net cash used in investing activities	0	(11)
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of warrants into shares	30	0
Net cash provided by financing activities	30	0
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS	(1,832)	(1,620)
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT BEGINNING OF THE PERIOD	11,085	12,376
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT END OF THE PERIOD	9,253	10,756
Reconciliation in amounts on consolidated balance sheets:
Cash and cash equivalents	9,189	10,691
Restricted deposits included in other current assets	64	65
Total cash and cash equivalents and restricted deposits	9,253	10,756
SUPPLEMENTAL DISCLOSURE OF CASH FLOW TRANSACTIONS:
Interest received	39	0
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	$ 33	$ 0

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2024
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 and commenced operation on June 1, 2010. On January 8, 2018, the Company incorporated its wholly owned subsidiary, Entera Bio Inc., in Delaware, United States. The Company is focused on developing first-in-class oral tablet formats of peptides or protein replacement therapies. The Company focuses on underserved, chronic medical conditions for which oral administration of a protein therapy has the potential to significantly shift a treatment paradigm. The Company’s most advanced product candidate, EB613, oral PTH (1-34), is being developed as the first oral, osteoanabolic (bone building) once-daily tablet treatment for post-menopausal women with low bone mineral density (“BMD”) and high-risk osteoporosis with no prior fracture. The Company is preparing to initiate a Phase 3 registrational study for EB613 pursuant to the FDA’s qualification of a quantitative BMD endpoint. The EB612 program is being developed as the first oral PTH(1-34) tablet peptide replacement therapy for hypoparathyroidism. Additionally, the Company intends to license its N-Tab™ 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 $106.4 million as of March 31, 2024 and negative cash flows from operating activities. The Company's management is of the opinion that its available funds as of March 31, 2024 will allow the Company to operate under its current plans into the third quarter of 2025. This assumes the use of the Company’s capital to fund its ongoing operations, including research and development, the completion of the Phase 1 PK study related to the Company’s new generation platform and the GLP-2/OXM collaborative research the Company is conducting with OPKO Biologics, Inc., a subsidiary of OPKO Health Inc. The Company’s current capital resources do not include the capital required to fund the Company's proposed Phase 3 study for EB613 in osteoporosis. These factors raise substantial doubt as to the Company's ability to continue as a going concern. Management continually evaluates various financing alternatives in the public and 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 capital raising. However, there is no certainty about the Company's ability to obtain such funding. These consolidated financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern. d. In October 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on the Israeli population and industrial centers located along Israel’s border with the Gaza Strip and in other areas within the State of Israel. These attacks resulted in thousands of deaths and injuries, and Hamas additionally kidnapped many Israeli civilians and soldiers. Following the attack, Israel’s security cabinet declared war against Hamas and commenced a military campaign against Hamas. In addition, in April 2024, Israel experienced a direct attack from Iran, involving hundreds of drones and missiles launched towards various parts of the country, mostly targeting military bases. The Israeli defense systems, aided by international allies, successfully intercepted the majority of these attacks, minimizing physical damage and casualties. Despite the effectiveness of Israel's missile defense systems, such incidents contribute to regional instability and could potentially escalate into broader conflicts with Iran and its proxies in the Middle East, affecting Israel's political and trade relations, especially with neighboring countries and global allies. The situation remains fluid, and the potential for further escalation exists. While the Company has a few employees who are in active military service, the ongoing war with Hamas and the conflict with Iran and its proxies have not, to date, materially impacted the Company’s business or operations. Furthermore, the Company does not expect any delays to any of its programs as a result of such conflicts. While R&D and management are located in Israel, other core activities including clinical, regulatory and our supply chain are not. However, the Company cannot currently predict the intensity or duration of Israel’s war against Hamas and/or the conflict with Iran and its proxies, nor can it predict how such conflicts will ultimately affect the Company’s business and operations or Israel’s economy in general.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
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 of 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 March 31, 2024, and the consolidated results of operations, statements of changes in shareholders' equity and cash flows for the three-month periods ended March 31, 2024 and 2023. The consolidated results for the three-month period ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2023, as filed with the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 8, 2024. 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 and pre-funded warrants during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and ordinary share equivalents outstanding when dilutive. Ordinary share equivalents include outstanding stock options, warrants and Restricted Shares Units (“RSUs”), which are included under the treasury stock method when dilutive. The calculation of diluted loss per share excluded options, warrants and RSUs exercisable into 16,484,665 shares and 7,116,583 shares for the periods ended March 31, 2024 and 2023, respectively, because the effect would have been antidilutive. c. Newly issued and recently adopted accounting pronouncements: Recently issued accounting pronouncements not yet adopted In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the United States and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis. Early adoption is permitted, with the option to apply the standard retrospectively. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures. In November 2023, the FASB issued ASU 2023-07 “Segment Reporting: Improvements to Reportable Segment Disclosures”. This guidance expands public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures.

EQUITY AND SHARE-BASED COMPENSA

EQUITY AND SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
Share-based Payment Arrangement [Abstract]
EQUITY AND SHARE-BASED COMPENSATION	NOTE 3 - EQUITY AND SHARE-BASED COMPENSATION 1. Changes in Share Capital: In March 2024, 29,940 warrants issued in connection with the Company’s December 2023 private placement (the “December 2023 PIPE”) were exercised for 29,940 ordinary shares for a total consideration of $30. 2. Share-based Compensation: Three months ended March 31, 2024 Exercise price $ 0.60 Dividend yield - Expected volatility 74.28 % Risk-free interest rate 3.93 % Expected life - in years 5.3 a. On January 1, 2024, an aggregate of 758,331 options to purchase ordinary shares were granted to seven non-executive members of the Board of Directors with an exercise price of $0.60 per share. The options vest in equal quarterly installments over a one-year period that began on January 1, 2024. This grant was approved by the shareholders of the Company on October 4, 2021. The fair value of the options at the date of grant was $295. The fair value of each option granted was estimated at the date of grant using the Black-Scholes option-pricing model, using the following weighted average assumptions: b. On February 1, 2024, the Company entered into a consulting agreement with an investor relations consulting firm. Under the terms of the agreement, the Company agreed to pay a monthly fee of $5 and issued to the consultant 25,000 RSUs. The RSUs vest in five equal monthly installments over a five-month period that began on February 1, 2024. As of March 31, 2024, 10,000 RSUs had vested. The fair value of the RSUs was $21,750 using the fair value of the RSU’s on the board approval date, January 30, 2024, of which $15,433 was recognized as an expense during the period ended March 31, 2024. c. On February 15, 2024, the Company entered into a consulting agreement with an additional investor relations firm. Under the terms of the agreement, the Company agreed to issue the consultant 50,000 RSUs. The RSUs vest in five equal monthly installments over a five-month period that started on February 15, 2024. As of March 31, 2024, 10,000 RSUs had vested. The fair value of the RSUs was $52,550 using the fair value of the RSUs on the grant date, of which $30,659 was recognized as an expense during the period ended March 31, 2024.

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	3 Months Ended
	Mar. 31, 2024
Supplementary Financial Statement Information [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	NOTE 4 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: Balance sheets: March 31, December 31, Other current assets: 2024 2023 Prepaid expenses 384 34 Advance income tax 69 69 Restricted deposits 70 65 Other 39 70 562 238 March 31, December 31, Accrued expenses and other payables: 2024 2023 Employees and employees related 177 159 Provision for vacation 254 215 Accrued expenses 471 500 902 874

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 5 - SUBSEQUENT EVENTS 1. On September 2, During April 2024, the Company issued 214,088 ordinary shares pursuant to the Leerink ATM Program for net proceeds of $545 at a weighted average price of $2.60 per ordinary share. 2. In April 2024, 29,940 warrants issued in connection with the December 2023 PIPE were exercised for 29,940 ordinary shares for a total consideration of $30. 3. On April 19, 2024, the board of directors approved the following options grants: a. options to purchase an aggregate of 768,000 ordinary shares were granted to employees, executive officers and service provider with an exercise price of $1.99 per share which was the share price on the grant date; and b. options to purchase an aggregate of 500,000 ordinary shares to the Company’s Chief Executive Officer with an exercise price of $1.99 per share which was the share price on that day. This grant is subject to the shareholders' approval. These options vest over three years from the date of grant; 33.33% vest on the first anniversary of the date of grant and the remaining 66.67% of the option will vest in eight equal quarterly installments following the first anniversary of the grant date. c. options to purchase an aggregate of 90,000 ordinary shares to two advisory board members with an exercise price of $1.99 per share which was the share price on that day. These option vest immediately at the grant date. In addition, the board of directors approved the grant of 209,548 RSUs to executive officers in place of cash annual bonus, of which 124,121 RSUs that were granted to the CEO are subject to the shareholders’ approval. The RSUs vest in four equal quarterly installments over one year that started on April 19, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (2,017)	$ (2,190)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the quarter ended March 31, 2024, none of our officers or directors adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act or any “non-Rule 10b5-1 trading arrangement”, as defined in Item 408 of Regulation S-K.
Title	officers or directors
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
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 of 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 March 31, 2024, and the consolidated results of operations, statements of changes in shareholders' equity and cash flows for the three-month periods ended March 31, 2024 and 2023. The consolidated results for the three-month period ended March 31, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2023, as filed with the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 8, 2024.
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 and pre-funded warrants during the period. Diluted loss per share is based upon the weighted average number of ordinary shares and ordinary share equivalents outstanding when dilutive. Ordinary share equivalents include outstanding stock options, warrants and Restricted Shares Units (“RSUs”), which are included under the treasury stock method when dilutive. The calculation of diluted loss per share excluded options, warrants and RSUs exercisable into 16,484,665 shares and 7,116,583 shares for the periods ended March 31, 2024 and 2023, respectively, because the effect would have been antidilutive.
Newly issued and recently adopted accounting pronouncements	c. Newly issued and recently adopted accounting pronouncements: Recently issued accounting pronouncements not yet adopted In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the United States and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis. Early adoption is permitted, with the option to apply the standard retrospectively. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures. In November 2023, the FASB issued ASU 2023-07 “Segment Reporting: Improvements to Reportable Segment Disclosures”. This guidance expands public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures.

EQUITY AND SHARE-BASED COMPEN_2

EQUITY AND SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2024
Share-based Payment Arrangement [Abstract]
Schedule of fair value assumptions of option granted using Black-Scholes option-pricing model	Three months ended March 31, 2024 Exercise price $ 0.60 Dividend yield - Expected volatility 74.28 % Risk-free interest rate 3.93 % Expected life - in years 5.3

SUPPLEMENTARY FINANCIAL STATE_2

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2024
Supplementary Financial Statement Information [Abstract]
Schedule of prepaid expenses and other current assets	March 31, December 31, Other current assets: 2024 2023 Prepaid expenses 384 34 Advance income tax 69 69 Restricted deposits 70 65 Other 39 70 562 238
Schedule of accounts payable and accrued liabilities	March 31, December 31, Accrued expenses and other payables: 2024 2023 Employees and employees related 177 159 Provision for vacation 254 215 Accrued expenses 471 500 902 874

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Detail Textuals) $ in Thousands	Mar. 31, 2024 ₪ / shares	Mar. 31, 2024 USD ($)	Dec. 31, 2023 ₪ / shares	Dec. 31, 2023 USD ($)
General [Line Items]
Ordinary share, par value | ₪ / shares	₪ 0.0000769		₪ 0.0000769
Accumulated deficit | $		$ 106,403		$ 104,386

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Significant Accounting Policies [Line Items]
Number of antidilutive securities excluded from computation of earnings per share	16,484,665	7,116,583

EQUITY AND SHARE-BASED COMPEN_3

EQUITY AND SHARE-BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended
	Feb. 01, 2024	Jan. 01, 2024	Feb. 15, 2024	Mar. 31, 2024
Private Placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants issued				29,940
Number of ordinary shares will be purchased by exercising warrants				29,940
Proceeds from Warrant Exercises				$ 30
Seven 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		$ 295
Number of options to purchase ordinary shares		758,331
Exercise price of options granted		$ 0.6
Description of terms of share-based payment arrangement		The options vest in equal quarterly installments over a one-year period that began on January 1, 2024. This grant was approved by the shareholders of the Company on October 4, 2021.
Consulting Agreement [Member] | Investor Relations Consulting Firm. [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of terms of share-based payment arrangement			The RSUs vest in five equal monthly installments over a five-month period that started on February 15, 2024.
Monthly fee	$ 5
Restricted Share Units granted	25,000		50,000
Restricted Share Units vested				10,000
Fair value of the RSU at the grant date	$ 21,750		$ 52,550
Stock-based compensation expenses	$ 15,433		$ 30,659

EQUITY AND SHARE-BASED COMPEN_4

EQUITY AND SHARE-BASED COMPENSATION (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 0.6
Dividend yield	0%
Expected volatility	74.28%
Risk-free interest rate	3.93%
Expected life - in years	5 years 3 months 18 days

SUPPLEMENTARY FINANCIAL STATE_3

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other current assets:
Prepaid expenses	$ 384	$ 34
Advance income tax	69	69
Restricted deposits	70	65
Other	39	70
Other current assets	562	238
Accrued expenses and other payables:
Employees and employees related	177	159
Provision for vacation	254	215
Accrued expenses	471	500
Accrued expenses and other payables	$ 902	$ 874

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended
	Sep. 02, 2022	Apr. 30, 2024	Apr. 19, 2024
Leerink Partners LLC [Member] | Sales Agreement [Member]
Subsequent Event [Line Items]
Sale of ordinary shares under ATM program	5,000,000
Subsequent Events [Member]
Subsequent Event [Line Items]
Vestion period			3 years
Subsequent Events [Member] | Vest on the first anniversary of the date of grant [Member]
Subsequent Event [Line Items]
Vesting percentage			33.33%
Subsequent Events [Member] | Vest in eight equal quarterly installments following first anniversary of grant date [Member]
Subsequent Event [Line Items]
Vesting percentage			66.67%
Subsequent Events [Member] | Employees, executive officers and service providers [Member]
Subsequent Event [Line Items]
Options to purchase ordinary shares			768,000
Exercise price of options granted			$ 1.99
Subsequent Events [Member] | Chief Executive Officer [Member]
Subsequent Event [Line Items]
Options to purchase ordinary shares			500,000
Exercise price of options granted			$ 1.99
Subsequent Events [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Restricted Share Units granted			124,121
Subsequent Events [Member] | Executive officers [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Restricted Share Units granted			209,548
Subsequent Events [Member] | Two advisory board members [Member]
Subsequent Event [Line Items]
Exercise price of options granted			$ 1.99
Subsequent Events [Member] | December 2023 Private Placement [Member]
Subsequent Event [Line Items]
Number of warrants issued		29,940
Number of ordinary shares issued upon exercise of warrants		29,940
Total consideration		$ 30
Subsequent Events [Member] | Leerink Partners LLC [Member] | Sales Agreement [Member]
Subsequent Event [Line Items]
Sale of ordinary shares under ATM program		214,088
Net proceeds under ATM program		$ 545
Weighted average price per ordinary share		$ 2.6