Beyond Air (XAIR) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document And Entity Information
Entity Registrant Name	AIT Therapeutics, Inc.
Entity Central Index Key	1,641,631
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,097,254
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 1,752	$ 7
Marketable securities	2,005
Other accounts receivable and prepaid expenses	114	78
Total current assets	3,871	85
NON-CURRENT ASSETS:
Deferred private placement costs		90
Property and equipment, net	208	61
Total non-current assets	208	151
TOTAL ASSETS	4,079	236
CURRENT LIABILITIES:
Bank loan		39
Trade payables	463	528
Other accounts payable	633	1,093
Loans from related parties and others	30	379
Total current liabilities	1,126	2,039
NON-CURRENT LIABILITIES:
Convertible notes		2,895
Liability related to warrants	9,819
Total non-current liabilities	9,819	2,895
TOTAL LIABILITIES	10,945	4,934
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIENCY:
Common Stock, $0.0001 par value per share - 100,000,000 and 11,665,085 shares authorized at September 30, 2017 (unaudited) and December 31, 2016 respectively; 6,097,254 and 2,207,449 shares issued and outstanding shares at September 30, 2017 (unaudited) and December 31, 2016, respectively	1	1
Preferred Stock, $0.0001 par value per share - 10,000,000 shares authorized at September 30, 2017 (unaudited) and December 31, 2016; 0 issued and outstanding shares at September 30, 2017 (unaudited) and December 31, 2016
Accumulated other comprehensive income	5
Treasury shares	(25)
Additional paid-in capital	23,038	8,874
Deficit accumulated	(29,885)	(13,573)
Total stockholders' deficiency	(6,866)	(4,698)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 4,079	$ 236

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Ordinary Shares, par value per share	$ 0.0001	$ 0.0001
Ordinary Shares, authorized	100,000,000	11,665,085
Ordinary Shares, issued	6,097,254	2,207,449
Ordinary Shares, outstanding	6,097,254	2,207,449
Preferred stock, par value per share	$ 0.0001	$ 0.0001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
Research and development expenses	$ 1,193	$ 78	$ 3,223	$ 573
General and administrative expenses	864	89	5,461	523
Costs related to aborted IPO				621
Operating loss	2,057	167	8,684	1,717
Financial expense, net	5,092	319	7,622	990
Loss before taxes on income	7,149	486	16,306	2,707
Taxes on income		17	6	39
Net loss	$ 7,149	$ 503	$ 16,312	$ 2,746
Net basic and diluted loss per share	$ 1.18	$ 0.44	$ 2.73	$ 1.99
Weighted average number of shares of Common Stock used in computing basic and diluted net loss per share	6,045,515	1,449,528	5,969,969	1,448,750

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) - USD ($) $ in Thousands	Common Stock [Member]		Treasury Stock [Member]	Additional paid-in capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Gain (Loss)	Total
Balance at Dec. 31, 2015	$ 1			$ 8,028	$ (9,853)		$ (1,824)
Balance, shares at Dec. 31, 2015	2,207,449
Modification of Consultants' warrants to purchase Common Stock				94			94
Waiver of salary by AIT's CEO				304			304
Stock-based compensation related to options granted to employees and non-employees				243			243
Stock-based compensation related to RSUs granted to Board of Directors' member				28			28
Beneficial conversion feature in respect to Convertible Notes				177			177
Net loss					(3,720)		(3,720)
Balance at Dec. 31, 2016	$ 1			$ 8,874	$ (13,573)		$ (4,698)
Balance, shares at Dec. 31, 2016	2,207,449
Shares issued with respect to reverse merger of AITT Inc.		[1]		(295)			(295)
Shares issued with respect to reverse merger of AITT Inc., shares	103,200
Treasury shares		[1]	$ (25)				$ (25)
Treasury shares, shares	(90,000)
Stock-based compensation related to options granted to employees and non-employees				436			436
Stock-based compensation related to RSUs granted to Board of Directors' member		[1]		(24)			(24)
Stock-based compensation related to RSUs granted to Board of Directors' member, shares	3,927
Stock-based compensation related to RSs granted to members of the Board of Directors		[1]		2,427			2,427
Stock-based compensation related to RSs granted to members of the Board of Directors, shares	856,910
Cancellation of RSs to members of the Board of Directors		[1]		844			844
Cancellation of RSs to members of the Board of Directors, shares	(246,312)
Issuance of warrants to service provider				480			480
Issuance of Common Stock, net of issuance costs		[1]		6,322			6,322
Issuance of Common Stock, net of issuance costs, shares	1,812,110
Conversion of Convertible Notes into Common Stock upon the merger		[1]		3,973			3,973
Conversion of Convertible Notes into Common Stock upon the merger, shares	1,397,068
Issuance of shares upon exercise of options		[1]		1			1
Issuance of shares upon exercise of options, shares	52,902
Net unrealized gains on available-for-sale investments						5	5
Net loss					(16,312)		(16,312)
Balance at Sep. 30, 2017	$ 1		$ (25)	$ 23,038	$ (29,885)	$ 5	$ (6,866)
Balance, shares at Sep. 30, 2017	6,097,254
[1]	Represents an amount lower than $1.

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (7,149)	$ (503)	$ (16,312)	$ (2,746)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	5	6	21	20
Capital loss in respect to property and equipment		4		4
Stock-based compensation, warrants, RSs and RSUs	465	85	4,163	370
Issuance of Common Stock to finder upon the conversion of Convertible Notes			18
Amortization of beneficial conversion feature and debt issuance costs in the Convertible Notes		274	1,046	776
Issuance cost related to warrants to investors and placement agent			457
Issuance of additional warrants granted to investors			2,434
Revaluation of warrants to purchase Common Stock	5,084		3,625
Imputed interest on Convertible Notes, loans from related parties and bank loan	2	65	30	215
Change in:
Other accounts receivables and prepaid expenses	74	1	(36)
Trade payables	(38)	13	(126)	342
Other accounts payable	157	(57)	(633)	252
Deferred costs of IPO that was aborted				352
Net cash used in operating activities	(1,400)	(112)	(5,313)	(415)
Cash flows from investing activities
Investment in marketable securities	(2,000)		(2,000)
Selling or property and equipment		3		3
Purchase of property and equipment	(37)		(108)
Purchase price that has been paid upon the reverse merger			(295)
Net cash (used in) provided by investing activities	(2,037)	3	(2,403)	3
Cash flows from financing activities
Proceeds from loan from related parties and others		70	57	70
Maturity of loan and interest from related parties and others			(418)
Proceeds from issuance of Convertible Note		58		184
Proceeds from bank loan		105		467
Repayment of bank loan		(106)	(42)	(418)
Proceeds from issuance of units consisting of Common Stock and warrants, net of issuance costs			9,889
Treasury shares			(25)
Net cash provided by financing activities		127	9,461	303
Change in cash and cash equivalents	(3,437)	18	1,745	(109)
Cash and cash equivalents at the beginning of the period	5,189	2	7	129
Cash and cash equivalents at the end of the period	1,752	20	1,752	20
Supplemental disclosure of non-cash financing activities:
Conversion of Convertible Notes into Common Stock			3,955
Purchase of property and equipment			$ 60

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1:- GENERAL AIT Therapeutics, Inc. ("AITT" or the "Company") was incorporated on April 24, 2015 as KokiCare, Inc. under the laws of the State of Delaware. On January 9, 2017, the name of the Company was changed to AIT Therapeutics, Inc. a. Advanced Inhalation Therapies (AIT) Ltd. ("AIT") was incorporated in Israel on May 1, 2011 and commenced its operations in May 2012. As described below, in December 2016, through a merger transaction, AIT became a wholly-owned subsidiary of the Company. The Company is an emerging clinical-stage anti-microbial therapeutic company focusing on the development and commercialization of nitric oxide formulations for the treatment of respiratory infections and diseases. The Company's pipeline includes therapies intended to treat respiratory infections in acute and chronic diseases, such as bronchiolitis (RSV), Non Tuberculosis Mycobacterial (NTM) patients and cystic fibrosis (CF). On August 29, 2014, AIT established a wholly-owned subsidiary, Advanced Inhalation Therapies (AIT) Inc. ("Inc."), a Delaware corporation. Its principal business activity is to provide executive management and administrative support functions to AIT. b. Reverse merger: On December 29, 2016, KokiCare Inc. entered into an Agreement and Plan of Merger (as subsequently amended, the "Merger Agreement"), together with Red Maple Ltd., a wholly owned subsidiary of KokiCare Inc., ("Merger Sub"), and AIT. The Merger Agreement provided for (i) the merger of Merger Sub with and into AIT pursuant to the laws of the State of Israel (the "Israeli Merger"), and (ii) the conversion of the ordinary shares and other outstanding securities of AIT into the right to receive shares and other applicable securities of AITT, with AIT surviving as a wholly owned subsidiary of AITT (the "Merger"). The Israeli Merger became effective on December 29, 2016 and the Merger closed on January 13, 2017 (the "Closing"). Prior to consummation of the Merger: 1. The Company received a $320 cash purchase price (the "Purchase Price") from AIT and used the cash purchase price to (i) pay off all the liabilities of the Company as of the Closing of the Merger, (ii) issue a cash dividend of $2.50 per share to its stockholders as of immediately prior to the closing of the Merger, and (iii) acquire 90,000 (on a post-reverse stock split basis) shares of its common stock, par value $0.0001 per share ("Common Stock") from the Company's prior sole officer and director, for $25. 2. KokiCare Inc. adopted its Amended and Restated Certificate of Incorporation ("COI") to (i) change its name from "KokiCare Inc." to "AIT Therapeutics Inc.", (ii) increase its capitalization to provide for the issuance of up to 100,000,000 shares of its Common Stock and up to 10,000,000 shares of Preferred Stock, par value $0.0001 per share; and (iii) effect a one-for-100 reverse stock split of the Common Stock. In connection with the closing of the Merger, all outstanding ordinary shares, warrants and options of AIT were converted into the rights to receive shares of AITT's Common Stock, warrants for AITT's Common Stock and stock options for AITT's Common Stock, respectively, at a ratio of 1:1. 3. On December 31, 2016, Kokicare's Common Stock was quoted on the Pink Open Market of the OTC Markets The Merger was accounted for as a reverse recapitalization which is outside the scope of ASC 805, "Business Combinations". Under reverse capitalization accounting, AIT is considered the acquirer for accounting and financial reporting purposes, and acquired the assets and assumed the liabilities of the Company. Assets acquired and liabilities assumed are reported at their historical amounts. Consequently, the interim consolidated financial statements of the Company reflect the operations of the acquirer for accounting purposes together with a deemed issuance of shares, equivalent to the shares held by the former stockholders of the legal acquirer and a recapitalization of the equity of the accounting acquirer. These interim consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception. c. Since its inception, the Company has devoted substantially all of its effort to business planning, research and development. The Company has incurred a net loss and had negative cash flow from operating activities of $16,312 and $5,313 respectively, for the nine month period ended September 30, 2017, and had an accumulated deficit of $29,885 as of September 30, 2017. These conditions among others raise substantial doubts about the Company's ability to continue as a going concern. The Company's ability to continue to operate is dependent upon raising additional funds to finance its activities. There are no assurances, however, that the Company will be successful in obtaining an adequate level of financing for the long-term development and commercialization of its products candidate. The consolidated financial statements do not include any adjustments with respect to the carrying amounts of assets and liabilities and their classification that might be necessary should the Company be unable to continue as a going concern.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES a. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2016 and as discussed in the Notes to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K filed on March 31, 2017, are b. Investment in marketable securities: The Company accounts for investments in marketable securities in accordance with ASC No. 320, "Investments- Debt and equity Securities". Management determines the appropriate classification of its investments at the time of purchase and reevaluates such determinations at each balance sheet date. The Company classified all of its equity securities as available-for-sale securities. Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in " Accumulated " stockholders' deficiency The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization together with interest and dividends on securities are included in financial income, net. The Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value, the potential recovery period and the Company's intent to sell, including whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For securities that are deemed other-than-temporarily impaired, the amount of impairment recognized in the statement of income (loss) is limited to the amount related to credit losses, while impairment related to other factors is recognized in other comprehensive income (loss). During the nine months period ended September 30, 2017, the Company did not record any other-than-temporary impairment income ( ) c. Warrants to purchase Common Stock: The Company accounted for warrants to purchase shares of its Common Stock held by investors which include down round protective provisions as a liability according to the provisions of ASC 815-40, "Derivatives and Hedging Contracts in Entity's Own Equity" ("ASC 815"). The Company measures the warrants at fair value by using the Black-Scholes model in each reporting period until they are exercised or expired, with changes in the fair values being recognized in the Company's statement of comprehensive loss as financial expense (income), net. d. Treasury shares: Shares held by the Company are presented as a reduction of equity, at their cost to the Company as treasury stock, until such shares are retired and removed from the account. e. Impact of recently issued accounting pronouncements: In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). The update simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification in the statement of cash flows and forfeiture rate calculation. The amendments of this ASU 2016-09 are effective for reporting periods beginning after December 15, 2016 for public entities. The Company adopted ASU 2016-09 commencing January 1, 2017. There

UNAUDITED INTERIM CONSOLIDATED

UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS	NOTE 3:- UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

BANK LOAN

BANK LOAN	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
BANK LOAN	NOTE 4:- BANK LOAN On September 15, 2016, AIT entered into a loan agreement with a commercial bank for a loan ("Loan") in an aggregate principal amount of $52 with imputed interest at an average rate of 5.1% with monthly payments over 12 installments. On May 21, 2017 the remaining balance of the Loan including the accrued interest was paid by the Company.

CONVERTIBLE NOTES

CONVERTIBLE NOTES	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
CONVERTIBLE NOTES	NOTE 5:- CONVERTIBLE NOTES Starting in December 2013 and continuing until December 31, 2016, AIT entered into Convertible Notes Agreements ("Notes Agreement") and received an aggregate amount of $3,342 in proceeds from these convertible notes - ("Convertible Notes"), of which $892 was received from related parties as of December 31, 2016 (see also Note 9d). With respect to the Convertible Notes, AIT applied ASC 470, "Debt with Conversion and Other Options", pursuant to which AIT recognized and measured the Beneficial Conversion Feature ("BCF") in the Convertible Notes at the commitment date by allocating a portion of the proceeds equal to the intrinsic value of the feature to additional paid-in-capital. The intrinsic value of the feature is calculated on the commitment date using the effective conversion price. The discount resulting from the BCF is amortized over the life of the Convertible Notes and is contained in financial expenses (income), net in the Company's statements of consolidated comprehensive loss unless mandatorily converted earlier. In September and October 2016, the Convertible Notes' terms were modified such that subject to and effective immediately upon the consummation of a transaction whereby AIT's ordinary shares were to become quoted on the OTC Market, the holders of the Convertible Notes had the right to convert the Convertible Notes and the outstanding accrued interest into ordinary shares of AIT. Following the consummation of the Merger, the holders of the Convertible Notes elected to convert the Convertible Notes and the outstanding accrued interest into 1,397,068 ordinary shares of AIT. Following the conversion, the holders no longer have any rights or claims under the Notes Agreement. AIT accounted for this amendment as modification according to ASC 470-50 "Modifications and Extinguishments". On January 13, 2017, upon the closing of the Merger (see Note 1b) all Convertible Notes and the accrued interest were converted of the Company The Convertible Notes balance consists of the following: September 30, December 31, 2017 2016 Unaudited Opening balance $ 2,895 $ 1,552 Receipt of Convertible Notes - 184 BCF in respect of Convertible Notes - (177 ) Amortization of BCF 1,031 1,034 Amortization of debts issuance costs 15 16 Imputed interest 14 286 Conversion of Convertible Notes into Common Stock (3,955 ) - $ - $ 2,895

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	NOTE 6:- FAIR VALUE MEASUREMENT ASC 820, "Fair Value Measurements and Disclosures" ("ASC 820"), defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. ASC 820 also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value. Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company accounted for the warrants issued to investors which included, among others, down round protective provisions as a non-current liability according to provisions of ASC 815. The Company will measure the warrants at fair value in each reporting period until they are exercised or expired, with changes in the fair value being recognized in the Company`s statement of comprehensive loss as financial income or expense, as appropriate. Under ASC 820, the warrants classified as Level 3 (See also Note 8c1). Under ASC 820, the marketable securities classified as Level 1 (See also Note 2d). The Company used the following assumptions to estimate the fair value of the warrants: Nine months ended September 30, 2017 Unaudited Risk-free interest rate (1) 1.81%-1.93 % Expected volatility (2) 75.2 % Expected life (in years) (3) 4.29-5 Dividend yield (4) 0 % Fair value per warrant $ 1.81-2.92 (1) Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds. (2) Expected volatility - was calculated based on actual historical stock price movements of comparable companies in the same industry over a term that is equivalent to the expected term of the option. (3) Expected life - the expected life was based on the expiration date of the warrants. (4) Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future. The changes in Level 3 liabilities associated with the warrants that were issued to investors are measured at fair value on a recurring basis. The following tabular presentation reflects the components of the liability associated with such warrants as of September 30, 2017 (unaudited): Fair value Unaudited Balance at January 1, 2017 $ - Fair value of warrants granted to investors and placement agent 3,760 Fair value of additional warrants granted to investors 2,434 Revaluation of warrants to purchase Common Stock 3,625 Balance at September 30, 2017 (unaudited) $ 9,819 As of September 30, 2017, none of the warrants granted have been exercised. In addition, the Company's financial instruments also include cash and cash equivalents, other accounts receivable, trade payables and other accounts payables. As of September 30, 2017, the fair value of these financial instruments was not materially different from their carrying values due to the short-term maturities of such instruments.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	NOTE 7:- CONTINGENT LIABILITIES AND COMMITMENTS a. On October 22, 2013, AIT entered into a patent license agreement with a third party, pursuant to which AIT agreed to pay to the third party a non-refundable upfront fee of $150 and is obligated to pay 5% royalties of any licensed product revenues, but at least $50 per annum during the royalty period as defined in the agreement. As of September 30, 2017, AIT did not record any revenues and therefore no royalties were paid or accrued. b. On March 4, 2015, AIT entered into an agreement with a gas supplier pursuant to which AIT granted the supplier exclusivity in the US market in exchange for gas supply for clinical studies for bronchiolitis. c. In August 2015, AIT entered into an Option Agreement (the "Option Agreement") with a third party whereby AIT acquired on September 7, 2016 for $25 the Option to purchase certain intellectual property assets and rights (the "Option"). According to the Option Agreement, the Option was originally exercisable for a period of six months, starting August 2015 (which was extended in 2016 for a period that ended January 2017). AIT exercised the Option in January 2017 and paid an exercise price of $500. Additionally, AIT is required to make certain one-time development and sales milestone payments to the third party, starting from the date on which AIT receives regulatory approval for the commercial sale of its first product candidate. In addition, immediately prior to the Merger, on January 13, 2017, AIT issued to a third party a warrant (the "Third Party Warrant") to purchase up to 178,570 ordinary shares of AIT at an exercise price of $4.80 for each share. This warrant was exchanged for a warrant to acquire shares of the Common Stock of the Company upon consummation of the Merger. The warrant is exercisable, in whole or in part, until the seventh anniversary as of the date of grant of the warrant. During the nine month period ended September 30, 2017, AIT recorded research and development expenses of $480 in respect to such warrant (see also Note 8i2).

STOCKHOLDERS' DEFICIENCY

STOCKHOLDERS' DEFICIENCY	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' DEFICIENCY	NOTE 8:- STOCKHOLDERS' DEFICIENCY a. Share capital: The Common Stock confers upon the holders the right to receive notice to participate and vote in general meetings of the Company, and the right to receive dividends, if declared, and to participate in the distribution of the surplus assets and funds of the Company in the event of liquidation, dissolution or winding up of the Company. b. Effective December 29, 2016, the Company's Board of Directors and the stockholders approved a reverse stock split of the outstanding Common Stock, at the ratio of 1 for 100. For accounting purposes, all Common Stock, warrants to purchase Common Stock and options to purchase Common Stock and loss per share amounts have been adjusted to give retroactive effect to this reverse stock split for all periods presented in these consolidated financial statements. Any fractional shares that resulted from the reverse share split have been rounded up to the nearest whole share. c. Issuance of Common Stock: 1. In December 2016, AIT entered into a Securities Purchase and Registration Rights Agreement (the "SPA") pursuant to which AIT agreed to issue and sell purchased units in the minimum aggregate amount of $10,000 and up to a maximum aggregate amount of $25,000. Each purchased unit (each a "Unit") comprised one ordinary share, NIS 0.01 par value per share, and one five-year warrant to purchase one ordinary share at an exercise price of $6.90 per share but eligible to be exercised on a cashless basis in the sole discretion of the holder. Each Unit sold at a price of $6.00 The exercise price and the number of warrants are subject to non-standard anti-dilution protections clauses and therefore are accounted as non-current liability in the consolidated financial statements. Immediately prior to the Closing of the Merger, AIT received gross proceeds of approximately $10,210 ("Total Purchase Price") from new and existing investors ("Investors") (including $1,170 from certain principal shareholders, a member of its Board of Directors and its chief executive officer) under the SPA by issuance of an aggregate 1,701,616 Units. Direct and incremental costs related to the SPA amounted to $1,049. Such costs have been allocated between shares of Common Stock and the issued Warrants. Under the SPA, AIT was obligated to file, as soon as reasonably practicable, but in no event later than the 45th day following January 13, 2017, which was February 27, 2017 (the "Filing Deadline"), with the SEC, a registration statement on Form S-1, (the "Registration Statement"), providing for the resale from time to time by the Investors of any and all registrable securities issued pursuant to the SPA. The registration statement was filed on February 27, 2017. In addition, AIT agreed to use its reasonable best efforts to cause the Registration Statement to be declared effective by the SEC as soon as practicable following such filing, but in no event later than the earlier of the 90th day following the date on which the Registration Statement was initially filed with the SEC and the fifth day following the date on which AIT is notified by the SEC that the Registration Statement will not be reviewed or will not be subject to further review (such earlier date, the "Effectiveness Deadline"). The Registration Statement was declared effective by the SEC on May 26, 2017. 2. In addition, based on the terms of the SPA, because the issuance of Units by AIT, together with issuances of Units by the Company following the Merger, failed to raise aggregate gross proceeds of at least $15,000, the Company issued an additional 1,701,616 warrants to the Investors. Consequently, the Company recorded additional finance expenses amounting to $2,434. 3. In March 2017, the Company raised additional gross funds amounting to approximately $663 from new investors by issuance of an aggregate of 110,494 purchased units, each of which comprised one share of Common Stock and a warrant to acquire two shares of Common Stock at an exercise price of $6.9 per share. Direct and incremental costs related to such investment round amounted to $199. In addition, the Company incurred additional costs amounted to $15 with respect to warrants that the Company is obligated to issue to the placement agent. These costs were allocated between the Common Stock and the issued Warrants. 4. On January 13, 2017, the principal and accrued interest on all of AIT's outstanding Convertible Notes, amounting to $3,955 were converted into 1,390,595 shares of Common Stock. In addition, the Company issued 6,473 shares of Common Stocks as a finders' fee upon the conversion of the Convertible Notes. Consequently, the Company recorded finance expenses amounting to $18 in the nine months ended September 30, 2017. d. Treasury shares: Following to Note 1b1, the Company acquired 90,000 (on a post-reverse stock split basis) shares of its Common Stock from the Company's prior sole officer and director, for $25. e. Stock options granted to employees: In September and December 2013, AIT authorized through its 2013 Incentive Option Plan (the "2013 Plan"), the grant of options and Restricted Share Units ("RSU's") to officers, directors, advisors, management and other key employees. The options granted have generally between 2 to 4 years vesting terms and expire 10 years after the grant date. Certain options will be accelerated upon fulfillment of certain conditions. The Company assumed the 2013 plan upon consummation of the Merger. A summary of the Company's options activity for employees and directors under the 2013 Plan is as follows: Nine months period ended September Number of options Weighted average exercise price Weighted average remaining contractual life Options outstanding at beginning of period 134,693 $ 3.31 8.99 Granted 240,500 6.34 Exercised (52,902 ) 0.02 Forfeited (29,401 ) 5.27 Options outstanding at end of period 292,890 6.18 9.25 Options exercisable at end of period 85,407 5.92 8.72 As of September 30 Total weighted average fair value of options granted to employees in the nine month period ended September 30, 2017 was $1.87 and in the three month period ended September 30, 2017 was $2.99. f. Options granted to non-employees: The Company has granted options to certain non-employees under the 2013 Plan and accounted for these options in accordance with ASC 505-50. The outstanding options granted to non-employees are as follows: Grant date Number of options Exercise price Expiration date September 8, 2013 17,080 $ 4.01 September 8, 2023 September 8, 2013 2,340 $ * ) September 8, 2023 December 29, 2013 3,511 $ 4.01 December 29, 2023 April 8, 2014 9,158 $ * ) April 8, 2024 July 24, 2014 1,246 $ 5.46 July 24, 2024 March 1, 2015 57,779 $ 5.46 March 1, 2025 October 20, 2015 12,456 $ * ) October 20, 2025 December 1, 2015 11,210 $ 5.46 December 1, 2025 November 8, 2016 9,601 $ 0.01 November 8, 2026 June 30, 2017 131,000 $ 6.9 June 30, 2027 255,381 *) Represents an amount lower than $1. Total weighted average fair value of options granted to non-employees in the nine month period ended September 30, 2017 was $1.77. Stock-based compensation: The stock-based compensation expense recognized in the consolidated financial statements for services received from employees, directors and non-employees is shown in the following table: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Research and development $ 94 $ 190 $ 76 $ 62 General and administrative expenses 3,589 180 389 23 $ 3,683 $ 370 $ 465 $ 85 As of September 30, 2017, the total unrecognized estimated compensation cost related to non-vested stock options granted to employees, directors and non-employees is $442, which is expected to be recognized over a weighted average period of approximately 2 years. g. Issuance of Restricted Stock Units ("RSUs"): On August 31, 2015, AIT's Board of Directors approved a grant of 11,781 RSUs to one member of the Board of Directors with a vesting schedule of three years from September 3, 2015. As of September 30, 2017, 3,927 shares of Common Stock have been issued upon vesting of equivalent amount of RSUs. During the third quarter of 2017, 11,781 RSUs were forfeited due to the board member's termination. h. Issuance of Restricted Shares ("RSs"): 1. On January 13, 2017, the Company 2. On June 24, 2016, AIT entered into an agreement with an individual to serve on AIT's Board of Directors pursuant to which AIT agreed to pay as compensation and benefits upon the consummation of a financing round in the United States (the "Financing Round") (i) an annual retainer of $40 to be paid in equal monthly installments; (ii) a one-time bonus of $150 within 30 days following completion of the Financing Round (the "One-Time Bonus") and (iii) RSs equal to 3% of all issued and outstanding fully diluted shares of AIT after the completion of the Financing Round (including any option to purchase additional shares or similar held by the purchasers in the Financing Round) with a vesting schedule of 33.33% of such shares to be vested immediately upon the completion of a Financing Round, 33.33% of such shares to be vested on the 6 month anniversary of the completion of a Financing Round and the remaining 33.33% of such shares on the 12 month anniversary of the completion of a Financing Round. Upon the closing of a change of control transaction, as defined in the agreement, the unvested options shall be accelerated and vest immediately. This agreement has a three-year term, subject to earlier termination as defined in the agreement. During the first quarter of 2017, the one-time bonus was paid and the Company issued 364,286 RSs. For the nine month period ended September 30, 2017, the Company recorded expenses in the amount of $1,310 in respect of this grant. i. Warrants: 1. On October 3, 2013 (the "Grant Date"), AIT granted warrants to a strategic adviser to purchase 85,474 ordinary shares of AIT with an exercise price of $8.19 (the "Third-Party Warrant"). Such warrant was fully vested on the Grant Date and eligible for exercise during a period of three years commencing as of the issuance of the warrant and ending on the third anniversary of the Grant Date (the "Exercise Period"). In addition, the warrant expires in the event of an initial public offering (an "IPO") or an acquisition of AIT unless already exercised. In January 2016, AIT's Board of Directors approved the extension of the Exercise Period by replacing the aforementioned original warrant with a new warrant exercisable until December 31, 2017 or until the fifth anniversary of the Grant Date in the event an IPO were to occur prior to December 31, 2016. As of September 30, 2017, this warrant was not exercised. AIT accounted for the extension of the Exercise Period pursuant to ASC 718 as a modification. Accordingly, additional compensation of $94 was calculated as the fair value of the modified award in excess of the fair value of the original award measured immediately before its terms have been modified based on current circumstances and recorded incremental fair value as an immediate compensation expense in the general and administrative expenses in the statements of comprehensive loss in 2016. 2. As of January 13, 2017, AIT accounted for the Third-Party Warrant pursuant to ASC 505-50 and measured the warrants at fair value according to the Black-Scholes model for a fair value of approximately $480. Such amount was fully recognized during the nine-month period ended September 30, 2017 based on the vesting schedule of the warrant. The value of the Third-Party Warrant was based on the following assumptions: share price of $3.98, exercise price of $4.80, expected dividend rate of 0%, expected standard deviation of 75.23%, risk-free interest rates of 2.20% and expected life until exercise of 7 years. 3. On February 20, 2017, the Company's Board of Directors approved the extension of the exercise period of options granted to one of the Company's officers by an additional nine months from three months to one year from the termination date. The Company accounted for such extension pursuant to ASC 718 as a modification. Accordingly, additional compensation of $13 was calculated as the fair value of the modified award in excess of the fair value of the original award measured immediately before its terms have been modified based on current circumstances and recorded incremental fair value as an immediate compensation expense.

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	NOTE 9:- RELATED PARTY BALANCES AND TRANSACTIONS Balances with related parties: September 30, December 31, 2017 2016 Unaudited Convertible Notes (d) $ - $ 892 Other accounts payable (b), (c) $ - $ 65 Loan from related parties (a) $ 30 $ 379 Additional paid in capital (e) $ - $ 304 Related parties' expenses: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Amounts charged to: General and administrative expenses (e) $ 245 $ 182 $ - $ 37 Research and Development expenses (b), (c) $ 60 $ 60 $ 22 $ 8 Financial expense (a), (d) $ 13 $ 49 $ 2 $ 14 *) Represents an amount lower than $1. a. On February 10, 2014, AIT signed a loan agreement with one of its stockholders for a total amount of $22. The loan bears an interest of 4% per annum. In 2016 and 2017 During the nine month period ended September 30, 2017, the Company repaid a portion of the Stockholder Loans amounting to $261 to certain of its stockholders. In addition, the Company recorded expenses regarding all aforesaid loans On January 13, 2017, upon the closing of the Merger (see also Note 1b), the holdings of certain of the above stockholders were diluted, and they are no longer considered related parties as of September 30, 2017. b. On September 9, 2012, AIT signed a consultancy agreement (which was amended at November 8, 2012) with one of its stockholders. As of September 30, 2017, the consultant is not considered as a related party. c. On December 15, 2012, AIT signed a consultancy agreement (which was amended at October 21, 2014) with one of its stockholders. For the nine month periods ended September 30, 2017 and 2016, the Company recorded expenses related to the amended consultancy agreement in the amount of $60 and $23, respectively. d. Commencing December 2013, AIT issued the Convertible Notes for which aggregate consideration of $892 was received from related parties as of December 31, 2016 (see also Note 5). The Convertible Notes bore an interest rate of 8% per annum compounded annually. Upon the closing of the Merger (see also Note 1b), all of the outstanding Convertible Notes were converted into 1,397,068 shares of Common Stock. For the nine month period ended September 30, 2017 and 2016, the Company recorded finance expenses in the amounts of $13 and $49, respectively. e. On September 17, 2015, AIT entered into an employment agreement with Mr. Amir Avniel to serve as the Company's Chief Executive Officer ("CEO"), effective as of January 1, 2016. Under the agreement, Mr. Avniel was entitled to a base salary of approximately $16 per month. In addition, upon the closing of the IPO (see Note 1b), Mr. Avniel was entitled to receive cash bonus of $50, which was paid during January 2017. In November 2016, Mr. Avniel waived all of his requirements for certain debts of AIT owed to him for a total amount of $304. On June 30, 2017, the Company signed a new agreement with Mr. Avniel pursuant to which among others he is entitled to a base salary of approximately $22 per month. In January 2017, the Company entered into a consulting agreement with Mr. Steven Lisi one of the Company’s directors, for consideration of $18 per month. On March 13, 2017 Mr. Lisi was appointed as the Company’s Chairman of the Board of Directors. On June 13, 2017, Mr. Lisi was appointed as the Company’s CEO, and Mr. Avniel On June 30, 2017, the Board of Directors approved an annual base salary of $260 for Mr. Lisi’s services as CEO.

FINANCIAL EXPENSE, NET

FINANCIAL EXPENSE, NET	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	NOTE 10:- F INANCIAL EXPENSE, NET Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Financial expenses, net: Bank charges and other $ 8 $ 6 $ 2 $ 3 Imputed interest expense 14 212 - 76 Imputed interest expense 11 4 2 1 Foreign currency translation adjustments, net 9 (8 ) 4 (34 ) Amortization of debt issuance costs 1 12 - 4 Amortization of BCF in respect to Convertible Notes 1,031 764 - 269 Issuance of Common Stock to finder fee upon the conversion of Convertible Notes 18 - - - Issuance of additional warrants granted to investors 2,434 - - - Revaluation of warrants to purchase Common Stock 3,62 5 - 5, 084 - Issuance cost related to warrants to investors and placement agent 457 - - - $ 7,622 $ 990 $ 5,092 $ 319

BASIC AND DILUTED NET LOSS PER

BASIC AND DILUTED NET LOSS PER SHARE	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
BASIC AND DILUTED NET LOSS PER SHARE	NOTE 11:- BASIC AND DILUTED NET LOSS PER SHARE The following table sets forth the computation of the Company's basic and diluted net loss per share of Common stock: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Net loss $ 16,312 $ 2,746 $ 7,149 $ 503 Convertible Preferred A Shares accumulated dividend - 131 - 131 Net loss attributable to holders of Common stock as reported $ 16,312 $ 2,877 $ 7,149 $ 634 Weighted average number of shares of Common stock used in computing basic and diluted net loss per share 5,969,969 1,448,750 6,045,515 1,449,528 Net loss per share of Common stock, basic and diluted $ 2.73 $ 1.99 $ 1.18 $ 0.44 For the nine and three month

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 12:- SUBSEQUENT EVENTS On November 1, 2017 the Company entered into a Letter of Intent (LOI) with NitricGen, Inc. ("NitricGen") to acquire a global, exclusive, transferable license and associated assets including intellectual property, know-how, trade secrets and confidential information from NitricGen related to NO delivery systems ("Delivery System"). According to the LOI, the Company agreed to pay NitricGen a total of $2,000 in several future payments depended on achieving some milestones, as defined in the LOI, and to pay NitricGen royalties on sales of the Delivery System. In addition, the Company agreed to grant NitricGen warrants to purchase 100,000 shares of AIT common stock at an exercise price of $6.90 per share.

SIGNIFICANT ACCOUNTING POLICI19

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Investment in marketable securities	b. Investment in marketable securities: The Company accounts for investments in marketable securities in accordance with ASC No. 320, "Investments- Debt and equity Securities". Management determines the appropriate classification of its investments at the time of purchase and reevaluates such determinations at each balance sheet date. The Company classified all of its equity securities as available-for-sale securities. Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in " Accumulated " stockholders' deficiency The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization together with interest and dividends on securities are included in financial income, net. The Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value, the potential recovery period and the Company's intent to sell, including whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For securities that are deemed other-than-temporarily impaired, the amount of impairment recognized in the statement of income (loss) is limited to the amount related to credit losses, while impairment related to other factors is recognized in other comprehensive income (loss). During the nine months period ended September 30, 2017, the Company did not record any other-than-temporary impairment income ( )
Warrants to purchase Common Stock	c. Warrants to purchase Common Stock: The Company accounted for warrants to purchase shares of its Common Stock held by investors which include down round protective provisions as a liability according to the provisions of ASC 815-40, "Derivatives and Hedging Contracts in Entity's Own Equity" ("ASC 815"). The Company measures the warrants at fair value by using the Black-Scholes model in each reporting period until they are exercised or expired, with changes in the fair values being recognized in the Company's statement of comprehensive loss as financial expense (income), net.
Treasury shares	d. Treasury shares: Shares held by the Company are presented as a reduction of equity, at their cost to the Company as treasury stock, until such shares are retired and removed from the account.
Impact of recently issued accounting pronouncements	e. Impact of recently issued accounting pronouncements: In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). The update simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification in the statement of cash flows and forfeiture rate calculation. The amendments of this ASU 2016-09 are effective for reporting periods beginning after December 15, 2016 for public entities. The Company adopted ASU 2016-09 commencing January 1, 2017. There

CONVERTIBLE NOTES (Tables)

CONVERTIBLE NOTES (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Convertible Notes	The Convertible Notes balance consists of the following: September 30, December 31, 2017 2016 Unaudited Opening balance $ 2,895 $ 1,552 Receipt of Convertible Notes - 184 BCF in respect of Convertible Notes - (177 ) Amortization of BCF 1,031 1,034 Amortization of debts issuance costs 15 16 Imputed interest 14 286 Conversion of Convertible Notes into Common Stock (3,955 ) - $ - $ 2,895

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Assumptions to Estimate the Investors' and Placement Agent's Warrants	The Company used the following assumptions to estimate the fair value of the warrants: Nine months ended September 30, 2017 Unaudited Risk-free interest rate (1) 1.81%-1.93 % Expected volatility (2) 75.2 % Expected life (in years) (3) 4.29-5 Dividend yield (4) 0 % Fair value per warrant $ 1.81-2.92 (1) Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds. (2) Expected volatility - was calculated based on actual historical stock price movements of comparable companies in the same industry over a term that is equivalent to the expected term of the option. (3) Expected life - the expected life was based on the expiration date of the warrants. (4) Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future.
Schedule of Changes in Level 3 Liabilities for Warrants	The changes in Level 3 liabilities associated with the warrants that were issued to investors are measured at fair value on a recurring basis. The following tabular presentation reflects the components of the liability associated with such warrants as of September 30, 2017 (unaudited): Fair value Unaudited Balance at January 1, 2017 $ - Fair value of warrants granted to investors and placement agent 3,760 Fair value of additional warrants granted to investors 2,434 Revaluation of warrants to purchase Common Stock 3,625 Balance at September 30, 2017 (unaudited) $ 9,819

STOCKHOLDERS' DEFICIENCY (Table

STOCKHOLDERS' DEFICIENCY (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Option Activity	A summary of the Company's options activity for employees and directors under the 2013 Plan is as follows: Nine months period ended September Number of options Weighted average exercise price Weighted average remaining contractual life Options outstanding at beginning of period 134,693 $ 3.31 8.99 Granted 240,500 6.34 Exercised (52,902 ) 0.02 Forfeited (29,401 ) 5.27 Options outstanding at end of period 292,890 6.18 9.25 Options exercisable at end of period 85,407 5.92 8.72
Schedule of Outstanding Options Granted to Non-employees	The outstanding options granted to non-employees are as follows: Grant date Number of options Exercise price Expiration date September 8, 2013 17,080 $ 4.01 September 8, 2023 September 8, 2013 2,340 $ * ) September 8, 2023 December 29, 2013 3,511 $ 4.01 December 29, 2023 April 8, 2014 9,158 $ * ) April 8, 2024 July 24, 2014 1,246 $ 5.46 July 24, 2024 March 1, 2015 57,779 $ 5.46 March 1, 2025 October 20, 2015 12,456 $ * ) October 20, 2025 December 1, 2015 11,210 $ 5.46 December 1, 2025 November 8, 2016 9,601 $ 0.01 November 8, 2026 June 30, 2017 131,000 $ 6.9 June 30, 2027 255,381 *) Represents an amount lower than $1.
Schedule of Stock-Based Compensation Expense	The stock-based compensation expense recognized in the consolidated financial statements for services received from employees, directors and non-employees is shown in the following table: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Research and development $ 94 $ 190 $ 76 $ 62 General and administrative expenses 3,589 180 389 23 $ 3,683 $ 370 $ 465 $ 85

RELATED PARTY BALANCES AND TR23

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Balances and Transactions	Balances with related parties: September 30, December 31, 2017 2016 Unaudited Convertible Notes (d) $ - $ 892 Other accounts payable (b), (c) $ - $ 65 Loan from related parties (a) $ 30 $ 379 Additional paid in capital (e) $ - $ 304 Related parties' expenses: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Amounts charged to: General and administrative expenses (e) $ 245 $ 182 $ - $ 37 Research and Development expenses (b), (c) $ 60 $ 60 $ 22 $ 8 Financial expense (a), (d) $ 13 $ 49 $ 2 $ 14 *) Represents an amount lower than $1. a. On February 10, 2014, AIT signed a loan agreement with one of its stockholders for a total amount of $22. The loan bears an interest of 4% per annum. In 2016 and 2017 During the nine month period ended September 30, 2017, the Company repaid a portion of the Stockholder Loans amounting to $261 to certain of its stockholders. In addition, the Company recorded expenses regarding all aforesaid loans On January 13, 2017, upon the closing of the Merger (see also Note 1b), the holdings of certain of the above stockholders were diluted, and they are no longer considered related parties as of September 30, 2017. b. On September 9, 2012, AIT signed a consultancy agreement (which was amended at November 8, 2012) with one of its stockholders. As of September 30, 2017, the consultant is not considered as a related party. c. On December 15, 2012, AIT signed a consultancy agreement (which was amended at October 21, 2014) with one of its stockholders. For the nine month periods ended September 30, 2017 and 2016, the Company recorded expenses related to the amended consultancy agreement in the amount of $60 and $23, respectively. d. Commencing December 2013, AIT issued the Convertible Notes for which aggregate consideration of $892 was received from related parties as of December 31, 2016 (see also Note 5). The Convertible Notes bore an interest rate of 8% per annum compounded annually. Upon the closing of the Merger (see also Note 1b), all of the outstanding Convertible Notes were converted into 1,397,068 shares of Common Stock. For the nine month period ended September 30, 2017 and 2016, the Company recorded finance expenses in the amounts of $13 and $49, respectively. e. On September 17, 2015, AIT entered into an employment agreement with Mr. Amir Avniel to serve as the Company's Chief Executive Officer ("CEO"), effective as of January 1, 2016. Under the agreement, Mr. Avniel was entitled to a base salary of approximately $16 per month.

FINANCIAL EXPENSE, NET (Tables)

FINANCIAL EXPENSE, NET (Tables)	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Schedule of Financial Expenses, Net	Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Financial expenses, net: Bank charges and other $ 8 $ 6 $ 2 $ 3 Imputed interest expense 14 212 - 76 Imputed interest expense 11 4 2 1 Foreign currency translation adjustments, net 9 (8 ) 4 (34 ) Amortization of debt issuance costs 1 12 - 4 Amortization of BCF in respect to Convertible Notes 1,031 764 - 269 Issuance of Common Stock to finder fee upon the conversion of Convertible Notes 18 - - - Issuance of additional warrants granted to investors 2,434 - - - Revaluation of warrants to purchase Common Stock 3,62 5 - 5, 084 - Issuance cost related to warrants to investors and placement agent 457 - - - $ 7,622 $ 990 $ 5,092 $ 319

BASIC AND DILUTED NET LOSS PE25

BASIC AND DILUTED NET LOSS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of the Company's basic and diluted net loss per share of Common stock: Nine months ended September 30, Three months ended September 30, 2017 2016 2017 2016 Unaudited Unaudited Net loss $ 16,312 $ 2,746 $ 7,149 $ 503 Convertible Preferred A Shares accumulated dividend - 131 - 131 Net loss attributable to holders of Common stock as reported $ 16,312 $ 2,877 $ 7,149 $ 634 Weighted average number of shares of Common stock used in computing basic and diluted net loss per share 5,969,969 1,448,750 6,045,515 1,449,528 Net loss per share of Common stock, basic and diluted $ 2.73 $ 1.99 $ 1.18 $ 0.44

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 29, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Net loss		$ 7,149	$ 503	$ 16,312	$ 2,746	$ 3,720
Cash flow from operating activities		1,400	$ 112	5,313	415
Accumulated deficit		29,885		29,885		$ 13,573
Cash purchase price				$ 295
Treasury stock shares acquired				90,000
Treasury stock shares acquired, value				$ 25
Ordinary Shares, authorized		100,000,000		100,000,000		11,665,085
Preferred Shares, authorized		10,000,000		10,000,000		10,000,000
Preferred Shares, par value		$ 0.0001		$ 0.0001		$ 0.0001
Reverse stock split				one-for-100
Conversion ratio				1:1
Common Stock [Member]
Net loss
KokiCare Inc. [Member]
Cash purchase price	$ 320
Cash dividend	$ 2.50
KokiCare Inc. [Member] | Common Stock [Member]
Treasury stock shares acquired	90,000
Treasury stock shares acquired, value	$ 25

BANK LOAN (Details)

BANK LOAN (Details) $ in Thousands	1 Months Ended
	Sep. 15, 2016USD ($)
Property, Plant and Equipment [Abstract]
Agreement for bank loan	$ 52
Number of Installments	12
Imputed interest in average rate	5.10%

CONVERTIBLE NOTES (Narrative) (

CONVERTIBLE NOTES (Narrative) (Details) - USD ($) $ in Thousands	Jan. 13, 2017	Oct. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Proceeds from convertible debt				$ 58		$ 184
Proceeds from related party debt				$ 70	$ 57	$ 70
Convertible Notes [Member]
Debt Instrument [Line Items]
Proceeds from convertible debt							$ 3,342
Proceeds from related party debt							$ 892
Ordinary shares issued from conversion of Convertible Notes		1,397,068
Conversion of Convertible Notes into Common Stock upon the merger, shares	1,397,068
Shares issued as finder fee	6,473

CONVERTIBLE NOTES (Schedule of

CONVERTIBLE NOTES (Schedule of Convertible Notes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Opening balance			$ 2,895
Amortization of debts issuance costs		$ 4	15	$ 12
Ending balance					$ 2,895
Convertible Notes [Member]
Debt Instrument [Line Items]
Opening balance			2,895	$ 1,552	1,552
Receipt of Convertible Notes					184
BCF in respect of Convertible Notes					(177)
Amortization of BCF			1,031		1,034
Amortization of debts issuance costs			15		16
Imputed interest			14		286
Conversion of Convertible Notes into Common Stock			(3,955)
Ending balance					$ 2,895

FAIR VALUE MEASUREMENT (Schedul

FAIR VALUE MEASUREMENT (Schedule of assumptions to estimate the Investors' and placement agent's warrants) (Details)	9 Months Ended
	Sep. 30, 2017$ / shares
Expected life (in years)	2 years
Investors' and placement agent's warrants [Member] | Fair value of liability related to warrants
Expected volatility	75.20%	[1]
Dividend yield	0.00%	[2]
Investors' and placement agent's warrants [Member] | Fair value of liability related to warrants | Minimum [Member]
Risk-free interest rate	1.81%	[3]
Expected life (in years)	4 years 3 months 15 days	[4]
Fair value per warrant	$ 1.81
Investors' and placement agent's warrants [Member] | Fair value of liability related to warrants | Maximum [Member]
Risk-free interest rate	1.93%	[3]
Expected life (in years)	5 years	[4]
Fair value per warrant	$ 2.92
[1]	Expected volatility - was calculated based on actual historical stock price movements of comparable companies in the same industry over a term that is equivalent to the expected term of the option.
[2]	Dividend yield - was based on the fact that the Company has not paid dividends to its stockholders in the past and does not expect to pay dividends to its stockholders in the future.
[3]	Risk-free interest rate - based on yield rates of non-index linked U.S. Federal Reserve treasury bonds.
[4]	Expected life - the expected life was based on the expiration date of the warrants.

FAIR VALUE MEASUREMENT (Sched31

FAIR VALUE MEASUREMENT (Schedule of components of the liability associated with such warrants) (Details) - Investors' and placement agent's warrants [Member] - Fair value of liability related to warrants $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Balance at January 1, 2017
Fair value of warrants granted to investors and placement agent	3,760
Fair value of additional warrants granted to investors	2,434
Revaluation of warrants to purchase Common Stock	3,625
Balance at September 30, 2017 (unaudited)	$ 9,819

CONTINGENT LIABILITIES AND CO32

CONTINGENT LIABILITIES AND COMMITMENTS (Other) (Details) - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2013	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Non-refundable fee paid for patent license agreement	$ 150
Royalty percentage owed on sale of licensed product revenues		5.00%
Minimum amount of royalties owed per annum		$ 50

CONTINGENT LIABILITIES AND CO33

CONTINGENT LIABILITIES AND COMMITMENTS (Option Agreement) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Aug. 31, 2015	Sep. 30, 2017	Jan. 13, 2017
Commitments and Contingencies Disclosure [Abstract]
Fee paid for option to purchase certain intellectual property	$ 25
Amount owed to third party upon exercise of Option	$ 500
Warrants to purchase ordinary shares			178,570
Exercise price			$ 4.80
Research and development expenses		$ 480

STOCKHOLDERS' DEFICIENCY (Narra

STOCKHOLDERS' DEFICIENCY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands

Jan. 13, 2017

Aug. 31, 2015

Oct. 03, 2013

Sep. 30, 2017

Feb. 20, 2017

Jun. 24, 2016

Jan. 31, 2017

Sep. 30, 2017

Mar. 31, 2017

Sep. 30, 2016

Jun. 30, 2017

Sep. 30, 2017

Sep. 30, 2016

Dec. 31, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Reverse stock split ratio

one-for-100

Stock Issued During Period, Value, New Issues

$ 6,322

Treasury stock shares acquired

90,000

Treasury stock shares acquired, value

$ 25

Shares called by warrants

178,570

Warrant exercise price

$ 4.80

Deferred private placement costs

$ 90

Expiration period of awards

10 years

Aggregate intrinsic value of outstanding and exercisable options

0

0

$ 0

Expected life

2 years

General and administrative expenses

$ 864

$ 89

$ 5,461

$ 523

Annual retainer amount in monthly installments

$ 40

One time bonus on completion of financing round

$ 150

Percentage of issued and outstanding fully diluted shares

3.00%

Vested immediately [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of vesting shares

33.33%

Vested after 6 month [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of vesting shares

33.33%

Vested after 12 month [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of vesting shares

33.33%

SPA [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Purchase price per unit

$ 0.01

Sale of Stock, Price Per Share

$ 6

Total Purchase Price

$ 10,210

Shares issued in merger transaction

1,701,616

Shares issued in merger transaction, value

$ 1,170

Direct and incremental costs

1,049

$ 199

Aggregate consideration

15,000

Finance expenses

15

$ 2,434

$ 18

Stock Issued During Period, Shares, New Issues

6,473

Debt Conversion, Converted Instrument, Shares Issued

1,390,595

110,494

Debt Conversion, Converted Instrument, Amount

$ 3,955

$ 663

Warrants issued

1,701,616

Warrant exercise price

$ 6.90

Expiration period of awards

5 years

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term of awards

2 years

Minimum [Member] | SPA [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Sale of Stock, Consideration Received on Transaction

$ 10,000

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term of awards

4 years

RSU [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSU's granted

364,286

Additional compensation expense

$ 1,310

Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value of warrants

$ 480

Share price

$ 3.98

Exercise price

$ 4.80

Expected dividend rate

0.00%

Expected standard deviation

75.23%

Risk-free interest rates

2.20%

Expected life

7 years

Director [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSU's granted

492,624

RSU's vested

246,312

RSU's cancelled

246,312

Director [Member] | RSU [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term of awards

3 years

RSU's granted

11,781

RSU's vested

11,781

3,927

General and administrative expenses

$ 1,961

Director [Member] | RSU [Member] | Restricted Shares Cancelled [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

General and administrative expenses

844

Strategic Adviser [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares called by warrants

85,474

Warrant exercise price

$ 8.19

General and administrative expenses

$ 94

Employees, Directors and Non-Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Additional compensation expense

$ 465

$ 85

3,683

$ 370

Unrecognized estimated compensation cost

$ 442

$ 442

$ 442

Board of Directors Chairman [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Additional compensation expense

$ 13

Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant date fair value of options grant

$ 2.99

$ 1.87

Non-Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant date fair value of options grant

$ 1.77

STOCKHOLDERS' DEFICIENCY (Summa

STOCKHOLDERS' DEFICIENCY (Summary of Option Activity For Employees And Directors) (Details) - Employees and Directors [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares
Number of options
Options outstanding at beginning of period | shares	134,693	146,606
Granted | shares	240,500
Exercised | shares	(52,902)
Forfeited | shares	(29,401)
Options outstanding at end of period | shares	292,890	134,693
Options exercisable at end of year | shares	85,407
Weighted average exercise price
Options outstanding at beginning of period | $ / shares	$ 3.31
Granted | $ / shares	6.34
Exercised | $ / shares	0.02
Forfeited | $ / shares	5.27
Options outstanding at end of period | $ / shares	6.18	$ 3.31
Options exercisable at end of year | $ / shares	$ 5.92
Weighted average remaining contractual life
Options outstanding	9 years 2 months 30 days	8 years 10 months 10 days
Options exercisable at end of year	8 years 8 months 19 days

STOCKHOLDERS' DEFICIENCY (Sum36

STOCKHOLDERS' DEFICIENCY (Summary of Options Granted to Non-Employees) (Details) - Non-Employees [Member] - $ / shares

Jun. 30, 2017

Nov. 08, 2016

Dec. 01, 2015

Oct. 20, 2015

Mar. 01, 2015

Jul. 24, 2014

Apr. 08, 2014

Dec. 29, 2013

Sep. 08, 2013

Sep. 30, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of options

131,000

9,601

11,210

12,456

57,779

1,246

9,158

3,511

255,381

Exercise price

$ 6.90

$ 0.01

$ 5.46

[1]

$ 5.46

$ 5.46

[1]

$ 4.01

Expiration date

Jun. 30, 2027

Nov. 8, 2026

Dec. 1, 2025

Oct. 20, 2025

Mar. 1, 2025

Jul. 24, 2024

Apr. 8, 2024

Dec. 29, 2023

September 8, 2013 Transaction One [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of options

17,080

Exercise price

$ 4.01

Expiration date

Sep. 8, 2023

September 8, 2013 Transaction Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of options

2,340

Exercise price

[1]

Expiration date

Sep. 8, 2023

[1]

Represents an amount lower than $1.

STOCKHOLDERS' DEFICIENCY (Sched

STOCKHOLDERS' DEFICIENCY (Schedule of Share Based Compensation Expense) (Details) - Employees, Directors and Non-Employees [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 465	$ 85	$ 3,683	$ 370
Total unrecognized estimated compensation cost	$ 442		442
Recognition period	2 years
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 76	62	94	190
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 389	$ 23	$ 3,589	$ 180

RELATED PARTY BALANCES AND TR38

RELATED PARTY BALANCES AND TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Jan. 31, 2017	Dec. 31, 2013	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Feb. 10, 2014
Related Party Transaction [Line Items]
Repayment of related party debt					$ 418
Interest expense				76	14	212
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Monthly salary					22
Director [Member]
Related Party Transaction [Line Items]
Monthly salary					18
Shareholder [Member]
Related Party Transaction [Line Items]
Debt instrument face amount			$ 57	$ 340	$ 57	$ 340		$ 22
Debt instrument interest rate			16.00%	16.00%	16.00%	16.00%		4.00%
Repayment of related party debt					$ 261
Related party expenses					13
Shareholder [Member] | December 2013 Loan [Member]
Related Party Transaction [Line Items]
Debt instrument face amount							$ 892
Debt instrument interest rate		8.00%
Interest expense					13	$ 49
Debt Conversion, Converted Instrument, Shares Issued		1,397,068
Consultant [Member]
Related Party Transaction [Line Items]
Related party expenses					60	$ 23
Consultant [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Debt instrument, amount forgiven					304
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Monthly salary					16
Annual base salary					$ 260
Amount of cash bonus	$ 50

RELATED PARTY BALANCES AND TR39

RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Balances with related parties:
Convertible Notes					$ 892
Other accounts payable					65
Loan from related parties	30		30		379
Additional paid in capital					$ 304
Amounts charged to:
General and administrative expenses		$ 37	245	$ 182
Research and Development expenses	22	8	60	60
Financial expense	$ 2	$ 14	$ 13	$ 49

FINANCIAL EXPENSE, NET (Details

FINANCIAL EXPENSE, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financial expenses, net:
Bank charges and other	$ 2	$ 3	$ 8	$ 6
Imputed interest expense in respect to Convertible Notes		76	14	212
Imputed interest expense in respect to loans from related parties and others and loan from bank	2	1	11	4
Foreign currency translation adjustments, net	4	(34)	9	(8)
Amortization of debt issuance costs		4	15	12
Amortization of BCF in respect to Convertible Notes		269	1,031	764
Issuance of Common Stock to finder fee upon the conversion of Convertible Notes			18
Issuance of additional warrants granted to investors			2,434
Revaluation of warrants to purchase Common Stock	5,084		3,625
Issuance cost related to warrants to investors and placement agent			457
Total financial expenses, net	$ 5,092	$ 319	$ 7,622	$ 990

BASIC AND DILUTED NET LOSS PE41

BASIC AND DILUTED NET LOSS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Earnings Per Share [Abstract]
Net loss	$ 7,149	$ 503	$ 16,312	$ 2,746	$ 3,720
Convertible Preferred A Shares accumulated dividend		131		131
Net loss attributable to holders of Common stock as reported	$ 7,149	$ 634	$ 16,312	$ 2,877
Weighted average number of shares of Common Stock used in computing basic and diluted net loss per share	6,045,515	1,449,528	5,969,969	1,448,750
Net basic and diluted loss per share	$ 1.18	$ 0.44	$ 2.73	$ 1.99

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 02, 2017	Jan. 13, 2017
Subsequent Event [Line Items]
Shares called by warrants		178,570
Warrant exercise price		$ 4.80
Subsequent Event [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Payments to acquire intangible assets	$ 2,000
Shares called by warrants	100,000
Warrant exercise price	$ 6.90