Beyond Air (XAIR) 10-Q 14 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2018	Nov. 14, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		8,533,657
Trading Symbol	AITB
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Mar. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 316	$ 733
Restricted cash	17	6
Marketable securities	4,549	8,304
Other current assets and prepaid expenses	124	59
Total current assets	5,006	9,102
Property and equipment, net	259	253
TOTAL ASSETS	5,265	9,355
CURRENT LIABILITIES:
Accounts payables	862	842
Accrued expenses	347	1,257
Loans from related parties and others	34	33
Total current liabilities	1,243	2,132
NON-CURRENT LIABILITIES
Liability related to warrants	9,029	5,678
TOTAL LIABILITIES	10,272	7,810
SHAREHOLDERs' (DEFICIT) EQUITY
Common Stock, $0.0001 par value per share 100,000,000 shares authorized as of September 30, 2018 and March 31, 2018; 8,523,657 and 8,397,056 shares issued and outstanding 2018, respectively as of September 30, 2018 and March 31, respectively	2	1
Preferred Stock, $0.0001 par value per share - 10,000,000 shares authorized as of September 30, 2018 and March 31, 2018; 0 shares issued and outstanding as of September 30, 2018 and March 31, 2018, respectively
Accumulated other comprehensive income (loss)	5	(3)
Treasury stock	(25)	(25)
Additional paid-in capital	33,044	32,141
Accumulated deficit	(38,033)	(30,569)
Total shareholders' (deficit) equity	(5,007)	1,545
TOTAL LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY	$ 5,265	$ 9,355

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Common stock , par value	$ 0.0001	$ 0.0001
Common stock , shares authorized	100,000,000	100,000,000
Common stock , shares issued	8,523,657	8,397,056
Common stock , shares outstanding	8,523,657	8,397,056
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating expenses:
Research and development expenses	$ 648	$ 1,193	$ 1,711	$ 1,784
General and administrative expenses	1,765	864	2,458	3,340
Operating loss	2,413	2,057	4,169	5,124
Financial expenses, net	2,050	5,092	3,295	4,905
Net loss	4,463	7,149	7,464	10,029
Net unrealized gain on available-for-sale investments	3		8
Total comprehensive loss	$ 4,460	$ 7,149	$ 7,456	$ 10,029
Net basic and diluted loss per share	$ 0.53	$ 1.18	$ 0.89	$ 1.63
Weighted average number of shares of common stock used in computing basic and diluted net loss per share	8,440,457	6,045,515	8,420,281	6,143,579

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' (Deficit) Equity - 6 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Common Stock [Member]		Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Income (Loss) [Member]	Total
Balance at Mar. 31, 2018	$ 1		$ (25)	$ 32,141	$ (30,569)	$ (3)	$ 1,545
Balance, shares at Mar. 31, 2018	8,397,056
Issuance of common stock pursuant to Lincoln Park Financial Corporation pursuant to Purchase Agreement, net of offering costs		[1]		(19)			(19)
Issuance of common stock pursuant to Lincoln Park Financial Corporation pursuant to Purchase Agreement, net of offering costs, shares	117,000
Issuance of common stock upon the exercise of options		[1]						[1]
Issuance of common stock upon the exercise of options, shares	9,601
Imputed interest on related parties loans and other	$ 1						(1)
Stock-based compensation				922			922
Change in unrealized gains available-for-sale investments						8	8
Net loss					(7,464)		(7,464)
Balance at Sep. 30, 2018	$ 1		$ (25)	$ 33,044	$ (38,033)	$ 5	$ (5,007)
Balance, shares at Sep. 30, 2018	8,523,657
[1]	Less than 1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net loss	$ (7,464)	$ (10,029)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	28	15
Stock-based compensation	922	2,286
Change in fair value of warrant liabilities	3,351	4,933
Imputed interest on loans from related parties and others	1
Unrealized gain on marketable securities	8
Change in:
Other current assets and prepaid expenses	(65)	63
Accounts payable	20	(146)
Accrued expenses	(909)	(223)
Net cash used in operating activities	(4,108)	(3,101)
Cash flows from investing activities
Investment in marketable securities	(61)	(2,000)
Proceeds from redemption of marketable securities	3,816
Purchase of property and equipment	(34)	(83)
Net cash provided by (used in) investing activities	3,721	(2,083)
Cash flows from financing activities
Issuance of common stock, net of offering cost	(19)
Payment of loans and interest from related parties and others		(177)
Payment of bank loan		(28)
Net cash used in financing activities	(19)	(205)
Decrease in cash, cash equivalents and restricted cash	(406)	(5,389)
Cash, cash equivalents and restricted cash at beginning of the period	739	7,141
Cash, cash equivalents and restricted cash at end of the period	$ 333	$ 1,752

Organization and Business

Organization and Business	6 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 ORGANIZATION AND BUSINESS 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 Advanced Inhalation Therapies (AIT) Ltd. (“AIT”) was incorporated in Israel on May 1, 2011 and commenced its operations in May 2012. On August 29, 2014, AIT established a wholly-owned subsidiary, Advanced Inhalation Therapies (AIT) Inc. (“Inc.”), a Delaware corporation. In December 2016, through a merger transaction, AIT became a wholly-owned subsidiary of the Company. The Company is an emerging medical device company that is developing a Nitric Oxide (“NO”) delivery system that generates NO from ambient air. Prior to consummation of the merger The Company received a $320 cash purchase price from AIT and used the cash 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 immediately prior to the closing of the merger, and (iii) acquire 90,000 shares of its common stock, par value $0.0001 per share from the company’s prior sole officer and director, for $25. KokiCare Inc. adopted its amended and restated certificate of incorporation 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 to purchase common stock for AITT’s common stock, respectively, at a ratio of 1:1. Reverse merger 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 condensed 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 condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception. Going concern The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the issuance of these condensed consolidated financial statements. As shown in the accompanying financial statements, the Company incurred negative operating cash flows of $4,108 for the six months ended September 30, 2018 and accumulated losses of $38,033 since inception through September 30, 2018. The Company has cash equivalent and marketable securities of $4,865 as of September 30, 2018. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. The Company estimates that it has enough cash to operate its business through June 30, 2019. These financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern The Company will need to raise additional funds in order to continue our clinical trials. Insufficient funds may cause us to delay, reduce the scope of or eliminate one or more of our development programs. The Company’s future capital needs and the adequacy of its available funds will depend on many factors, including the cost of clinical studies and other actions needed to obtain regulatory approval of our medical devices in development. Management plans to raise additional funds through public or private sales of equity or debt securities or from bank or other loans or through strategic collaboration and/or licensing agreements, to fund operations until the Company is able to generate enough revenues to cover operating costs. Financing may not be available on acceptable terms, or at all, and our failure to raise capital when needed could materially adversely impact our growth plans and our financial condition or results of operations. Additional equity financing, if available, may be dilutive to our shareholders. In addition, the Company may never be able to generate sufficient revenue if any from its potential medical devices. On August 10, 2018, the Company entered into a $20,000 purchase agreement and a registration rights agreement with Lincoln Park Capital Fund, LLC (“LPC”), providing for the issuance of up to $20,000 of the Company’s common stock over 36 months at the Company’s discretion, see Note 4. In addition to the normal risks associated with a new business venture, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be approved or commercially viable. The Company is subject to risks common to companies in the medical device industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with the FDA and other governmental regulations and approval requirements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying condensed consolidated Balance Sheet as of March 31, 2018 has been derived from the audited consolidated financial statements included in our Transitional Report on Form 10-KT for the three months March 31, 2018 and for the year then ended December 31, 2017, respectively. The condensed consolidated financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for year ended December 31, 2017, respectively, which was filed with the United States Securities and Exchange Commission, (“SEC”), on June 15, 2018. Principles of Consolidation These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception.. All intercompany balances and transactions have been eliminated in the accompanying condensed financial statements. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The Company’s significant estimates are the valuation of warrant liabilities, stock-based compensation expenses and valuation allowance for deferred taxes. Cash and cash equivalents Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition. Restricted Cash Restricted cash are invested in bank deposit. These deposits serve as collateral for the Company’s vehicle lease. Research and development Research and development expenses are charged to the statement of comprehensive loss as incurred. Foreign Exchange Transactions The majority of AIT’s operations are currently conducted in Israel and in the United States while a significant part of AIT’s expenses and financing activities are denominated and determined in U.S. dollars. The Company’s management believes that the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company’s transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to U.S. dollars in accordance with the Accounting Standards Board (ASC) 830, “Foreign Currency Matter. All transaction gains and losses from re-measurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of comprehensive income (loss) as financial income or expenses, as appropriate, Note 5. Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The expected volatility was based upon its peer group. The Company routinely reviews its calculation of volatility changes in future volatility, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method for share-based compensation to estimate the expected term for employee option awards for share-based compensation in its option-pricing model. The Company uses the contractual term for non- employee options to estimate the expected term, for share-based compensation in its option-pricing model. Compensation expense for warrants granted to non-employees is determined by the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured, and is recognized over the service period. The expense is subsequently adjusted to fair value at the end of each reporting period until such warrants vest, and the fair value of such instruments, as adjusted, is expensed over the related vesting period. Adjustments to fair value at each reporting date may result in income or expense, depending upon the estimate of fair value and the amount of expense recorded prior to the adjustment. The Company reviews its agreements and the future performance obligation with respect to the unvested warrants for its vendors or consultants. When appropriate, the Company will expense the unvested warrants at the time when management deems the service obligation for future services has ceased. 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 its investment in marketable securities as available-for-sale securities. Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in Accumulated other comprehensive income (loss) in shareholders’ (deficit) equity. Realized gains and losses on sales of investments are included in financial expense, net and are derived using the specific identification method for determining the cost of securities. Warrant liabilities The Company accounted for warrants to purchase shares of its common stock issued to its shareholders that include down round protective provisions, as a liability according to the provisions of ASC 815-40, “Derivatives and Hedging Contracts in Entity’ Own Equity” Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2018, and March 31, 2018, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States. The Company recognized a decrease related to its federal deferred tax assets and deferred tax liabilities, before the valuation allowance. Because a change in the valuation allowance completely offsets the change in deferred taxes, there was no impact on the condensed consolidated financial statements related to the rate change. The Company files a U.S. Federal income tax return, various state returns and International returns. Uncertain tax positions taken on the Company’s tax returns will be accounted for as liabilities for unrecognized tax benefits. The Company will recognize interest and penalties, if any, related to unrecognized tax benefits in income taxes in the statements of comprehensive income (loss). There Company has recorded $121 and $121 in accrued expenses, for uncertain tax positions as of September 30, 2018 and March 31, 2018, respectively. Recently issued accounting standards In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, “Disclosure Update and Simplification,” amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule is effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed financial statements. The Company anticipates its first presentation of changes in stockholders’ equity will be included in its Form 10-Q for the quarter ended June 30, 2019. In August 2018, the Financial Accounting Standards Board (“ issued ASU”) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement The Company is evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Stock-based Compensation: Improvements to Nonemployee Share-based Payment Accounting The Company is evaluating of evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In May 2017, the FASB issued ASU 2017-09 (“ASU 2017-09”), Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This standard provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. . The impact of the adoption was immaterial to In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features. II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. This ASU affects all entities that issue financial instruments (for example, warrants or convertible instruments) that include down round features. Part I of this ASU relates to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share, while in Part II does not have an accounting effect. This update is effective for public business entities for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2018, early adoption is permitted for Part 1. The Company is in the process of evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02), which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. The Company is evaluating the effect that this guidance will have on our condensed consolidated financial statements and related disclosures. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted the standard commencing January 1, 2018 . The impact of the adoption was immaterial to our condensed consolidated financial statements.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 3 FAIR VALUE MEASUREMENT The Company’s financial instruments primarily include cash, warrant liabilities and accounts payable. Due to the short-term nature of cash, cash equivalent, restricted cash and accounts payable the carrying amounts of these assets and liabilities approximate their fair value. Warrant liabilities are recorded at fair value at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: 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 accredited shareholders 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 income (loss) as financial income or expense, as appropriate. Under ASC 820, the warrants are classified as Level 3 and marketable securities invested in mutual funds are classified as Level 1: There has been no transfer between any levels during the period. As of September 30, 2018, and March 31, 2018, financial assets and liabilities measured at fair value on a recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations: As of September 30, 2018 As of March 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Marketable securities Marketable securities Mutual funds $ 3,937 $ 0 $ 0 $ 3,937 Mutual funds $ 7,698 $ 0 $ 0 $ 7,698 Short-term bond fund 612 0 0 612 Short-term bond fund 606 0 606 $ 4,549 $ 0 $ 0 $ 4,549 Total $ 8,304 $ 0 $ 0 $ 8,304 As of September 30, 2018 As of March 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities Warrant liabilities $ 0 $ 0 $ 9,029 $ 9,029 Warrant liabilities $ 0 $ 0 $ 5,678 $ 5,678 The Company used the Black-Scholes option pricing model to value the warrant liabilities with the following assumptions to estimate the fair value as of September 30, 2018 and March 31, 2018 as follows: September 30, 2018 March 31, 2018 (Unaudited) Risk-free interest rate 2.93%-2.94 % 2.49%-2.51 % Expected volatility 81.23 % 84.54 % Expected life (in years) 3.29 - 3.50 3.79 - 4.00 Dividend yield 0 % 0 % Fair value per warrant liability $ 2.46 - 2.53 $ 1.55 - 1.59 The changes in Level 3 fair value measurements associated with the warrant liabilities at fair value on a recurring basis as of September 30, 2018 is as follows: Number of warrants Fair value of liability related to warrants Balance as of April 1, 2018 3,635,270 $ 5,678 Change in fair value of warrant liabilities - 3,351 Balance as of September 30, 2018 3,635,270 $ 9,029

Shareholder's Equity (Deficit)

Shareholder's Equity (Deficit)	6 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Shareholders' Equity (Deficiency)	NOTE 4 SHAREHOLDER’S EQUITY (DEFICIT) On February 16, 2018, the Company entered into a Securities Purchase Agreement with several accredited shareholders. The Company issued warrants to purchase 4,599,604 shares of its common stock, par value $0.0001 per share at a purchase price of $0.01 per underlying warrant share. The warrants are comprised of an aggregate of (i) 2,299,802 Tranche A Warrants to purchase shares of common stock at an exercise price of $4.25 per share exercisable within three days from the issue date of the Tranche A Warrants and (ii) an equal number of Tranche B Warrants to purchase shares of common stock at an exercise price of $4.25 per share for the Tranche B Warrant, exercisable within three years from the issue date of the warrants. In connection with the February 2018, stock offering, the Company’s Board of Directors approved the issuance of warrants to purchase common stock with an exercise price of $4.25 per share. Immediately following the closing, all the shareholders in this offering exercised the full amount of their Tranche A Warrants resulting in net proceed of $8,734, which includes offering costs of $1,086 In February, the Board of Directors repriced outstanding options to purchase common stock issued in 2017 to $4.25 per share. The Company accounted for the change in option exercise price as a modification pursuant to ASC 718. Accordingly, additional stock-based compensation of $59 was recorded based upon 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 is recognized as a stock-based compensation expense over the remaining vesting period. On August 10, 2018, the Company entered into a $20,000 Purchase Agreement (commonly known as At The Market Offering, or ATM) with LPC. Pursuant to the terms of the Purchase Agreement, the Company may sell and issue LPC and LPC is obligated to purchase up to $20,000 in value of shares of common stock from time to time over three years. The Company also entered into a registration rights agreement with whereby the Company agreed to file a registration statement with the SEC and the shares of the Company’s common stock that may be issued to LPC under the terms of the Purchase Agreement. The Company may direct LPC, at its sole discretion, and subject to certain conditions, to purchase up to 10,000 shares of common stock on any business day, provided that at least one business day has passed since the most recent purchase. The amount of a purchase may be increased under certain circumstances provided, however that LPC cannot make any single purchase that exceeds $750. The purchase price of shares of common stock related to the future funding will be based on the then prevailing market prices of such shares at the time of sales as described in the Purchase Agreement. The Company filed a registration statement with the SEC and it was accepted on October 12, 2018. Following the execution of the Purchase Agreement on August 10, 2018, the Company issued and sold to LPC 117,000 shares of common stock at $4.50 per shares for gross proceeds of $527 and incurred offering costs in excess of the amount raised of $546, which was charged to additional paid in capital and was a onetime occurrence. The Company is not obligated to have any future sales with LPC under the Purchase Agreement. On October 28, 2018, the Company sold 10,000 shares from the Purchase Agreement. There are $19,428 in value of shares available under the Purchase Agreement with LPC based upon certain trading limitations over the remaining term of the agreement as of the date of these financial statements are issue, see Note 9. Issuance of restricted shares On January 13, 2017, the Company issued 492,624 restricted shares to a director of the Company, of which 246,312 were to vest on the six-month anniversary of the grant date and the remaining vest on the 18-month anniversary of the grant date. During the three months ended June 30, 2017, 246,312 (50%) of the restricted shares were cancelled. For the six months ended September 30, 2018 and 2017, the Company recorded stock-based compensation expenses of $0 and $844, respectively due to the cancellation of such shares. There was no stock-based compensation expense for the three months ended September 30, 2018 and 2017, respectively. Stock option plan The Company has an amended and restated Incentive Option Plan (the “2013 Plan”), that grants options, restricted stock units and restricted shares to officers, directors, employees, and non-employees for shares of the Company’s stock. The options vesting terms are generally between two to four years and expire up to ten years after the grant date. Certain options will be accelerated upon fulfillment of certain conditions. On August 2, 2018, the Board of Directors authorized the increase of an additional 1,033,324 shares to a total of 1,500,000 shares for issuance under the 2013 Plan. As of September 30, 2018, 105,028 options are available for future grants. A summary of the Company’s options for the six months ended September 30, 2018 is as follows: Number Of Options Weighted Average Exercise price Weighted Average Remaining Contractual Life Options outstanding as of April 1, 2018 510,904 $ 4.32 8.96 Granted 927,000 4.25 Exercised (9,601 ) 4.25 Forfeited (33,333 ) 4.25 Options outstanding as of September 30, 2018 1,394,970 $ 4.29 8.8 Options exercisable as of September 30, 2018 444,136 $ 4.29 8.5 As of September 30, 2018, the aggregate intrinsic value of outstanding and exercisable options was and $132 and $27, respectively . The aggregate intrinsic value of options exercised during the period was $40. As of September 30, 2018, the Company has unrecognized stock-based compensation expense of approximately $2,168 related to unvested stock options over the weighted average remaining service period of 2.3 years. The weighted average fair value of options granted during the six months ends ended September 30, 2018 and 2017 was approximately $2.72 per share and $1.76 per share, respectively, on the date of grant using the Black-Scholes option pricing model with the following assumption: September 30, 2018 Risk-free interest rate 2.54%-3.05 % Expected volatility 80.68% - 81.23 % Expected term (in years) 5.0 - 9.9 Dividend yield 0 % Stock-based compensation The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the condensed consolidated statements of comprehensive income (loss) for the six and three months ended September 30, 2018 and 2017, respectively: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Research and development $ 96 $ 73 $ 27 $ 76 General and administrative 826 2,213 815 389 Total stock-based compensation expense $ 922 $ 2,286 $ 842 $ 465 Warrants On September 7, 2016, AIT entered into an Option Agreement (the “Option Agreement”) with a third party whereby AIT acquired the Option to purchase certain intellectual property assets and rights (the “Option”) for $25. AIT exercised the Option in January 2017 and paid an exercise price of $500 and, on January 13, 2017 AIT issued to the 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 per share for each share of common stock. This warrant was exchanged for a warrant to acquire the same number of shares of the common stock of the Company upon consummation of the merger. On May 10, 2018, the Company issued to the third-party additional warrants to purchase up to 29,763 ordinary shares of the Company at an exercise price of $4.80 per share for each share. The warrant expires in September 2023. For the six months ended September 2018 and 2017, the Company recorded stock-based compensation expense of $56 and $0 to research and development expenses, respectively and is included in the table above. There was no stock stock-based compensation expense for the three months ended September 30, 2018 and 2017, respectively, see Note 7, commitment s and contingencies.

Financial Expense, Net

Financial Expense, Net	6 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Financial Income, Net	NOTE 5 FINANCIAL EXPENSE, NET A summary of the financial income, for the six and three month ended September 30, 2018 and 2017, respectively is as following : Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Financial expenses, net: Bank fees and other $ 9 $ 6 $ 3 $ 4 Dividend income (64 ) - (29 ) - Foreign currency loss (gain) (1 ) (34 ) 2 4 Change in fair value of warrant liabilities 3,351 4,933 2,074 5,084 Total $ 3,295 $ 4,905 $ 2,050 $ 5,092

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Common Share	6 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Common Share	NOTE 6 BASIC AND DILUTED NET LOSS PER COMMON SHARE The computation of net loss per common share, basic and diluted, for the six and three months ended September 30, 2018 is as follows: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Net loss attributable to holders of common stock $ 7,464 $ 10,029 $ 4,463 $ 7,149 Weighted average number of common shares used in computing basic and diluted net loss per commons share 8,420,281 6,143,579 8,440,457 6,045,515 Net loss per share of common stock, basic and diluted $ 0.89 $ 1.63 $ 0.53 $ 1.18 The following potentially dilutive securities are not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 Common stock warrants 6,143,405 85,474 6,143,405 85,474 Common stock options 1,394,972 548,721 1,394,972 548,721 Restricted shares - 246,312 - 246,312 Total 7,538,377 880,507 7,538,377 880,507

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7 COMMITMENTS AND CONTINGENCIES 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, 2018, AIT did not record any revenues and therefore no royalties were paid or accrued. On September 7, 2016, AIT entered into an Option Agreement (the “Option Agreement”) with a third party whereby AIT acquired the Option to purchase certain intellectual property assets and rights (the “Option”) for $25 AIT issued to the 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 the same number of shares of the Company’s common stock upon consummation of the merger. On May 10, 2018, the Company issued to the third-party additional warrants to purchase up to 29,763 shares of the Company at an exercise price of $4.80 per share for each share of common stock. The warrant is exercisable, in whole or in part, until the seventh anniversary of the original issuance date of January 13, 2017. See warrants for the compensation expense recorded for this warrant issuance. 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. On January 31, 2018 the Company entered into an agreement (“Agreement”) 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”). The Company agreed to pay NitricGen a total of $2,000 in several future payments depending on achieving certain milestones, as defined in the Agreement, and to pay NitricGen royalties on sales of the Delivery System . In addition, the Company agreed to grant to NitricGen warrants to purchase 100,000 shares of the Company’s common stock at an exercise price of $6.90 per share. As of September 30, 2018, the Company has not achieved any of these milestones. On March 16, 2018, Empery Asset Master, Ltd., Empery Tax Efficient, LP and Empery Tax Efficient II, LP, (collectively, “Empery”), filed a complaint in the Supreme Court of the State of New York, relating to the notice of adjustment of both the exercise price of and the number of warrant shares issuable under warrants issued to Empery in January 2017. The Empery Suit alleges that, as a result of certain circumstances in connection with the February 2018 Offering, the January 2017 Warrants issued to Empery provide for adjustments to both the exercise price of the warrants and the number of warrant shares issuable upon such exercise. Empery seeks monetary damages and declaratory relief under theories of breach of contract or contract reformation predicated on mutual mistake. The Company intends to vigorously defend all claims. Given the early stage of the litigation, it is not possible to determine or assess the probability of any particular outcome. Certain officer agreements contain a change of control provision for payment of severance arrangements. In March and April, 2018, the Company entered into two new office lease agreements, which will expire on April 2021 and June 2023, respectively. Future minimum commitments for each of the fiscal years ending March 31, are as follows: Year Ended March 31, Operating Leases 2019 $ 40 2020 81 2021 83 2022 65 2023 65 2024 16 Total $ 350 Rent expense for the three months ended September 30, 2018 and 2017 was $23 and $21, respectively. Rent expense for the six months ended September 30, 2018 and 2017 was $50 and $18, respectively. On June 30, 2017 the Company recorded a credit $18 associated with rent for the Israeli facility.

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 8: SUBSEQUENT EVENTS On November 1, 2018, the Board of Directors (the “Board”) of AIT Therapeutics, Inc. (the “Company”) appointed Douglas Beck, CPA as Chief Financial Officer of the Company, effective November 1, 2018. Mr. Beck was also designated as the Company’s principal accounting officer and will succeed Stephen DiPalma as Chief Financial Officer and principal accounting officer. Mr. DiPalma has resigned from his interim position, effective November 1, 2018. His resignation is not the result of any disagreement with the Company. Mr. Beck was issued 85,000 options to purchase common stock at $4.25 per share. The options vest over four years and expires in ten years. On October 28, 2018, the Company received gross proceeds of $46 from the sale of 10,000 shares of the Company’s common stock at $4.567 per share. LPC purchased the Company’s common stock pursuant per the terms of the Purchase Agreement.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Presentation	Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying condensed consolidated Balance Sheet as of March 31, 2018 has been derived from the audited consolidated financial statements included in our Transitional Report on Form 10-KT for the three months March 31, 2018 and for the year then ended December 31, 2017, respectively. The condensed consolidated financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for year ended December 31, 2017, respectively, which was filed with the United States Securities and Exchange Commission, (“SEC”), on June 15, 2018.
Principles of Consolidation	Principles of Consolidation These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception.. All intercompany balances and transactions have been eliminated in the accompanying condensed financial statements.
Use of Estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The Company’s significant estimates are the valuation of warrant liabilities, stock-based compensation expenses and valuation allowance for deferred taxes.
Cash and cash equivalents	Cash and cash equivalents Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition.
Restricted Cash	Restricted Cash Restricted cash are invested in bank deposit. These deposits serve as collateral for the Company’s vehicle lease.
Research and Development	Research and development Research and development expenses are charged to the statement of comprehensive loss as incurred.
Foreign Exchange Transactions	Foreign Exchange Transactions The majority of AIT’s operations are currently conducted in Israel and in the United States while a significant part of AIT’s expenses and financing activities are denominated and determined in U.S. dollars. The Company’s management believes that the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company’s transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to U.S. dollars in accordance with the Accounting Standards Board (ASC) 830, “Foreign Currency Matter. All transaction gains and losses from re-measurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of comprehensive income (loss) as financial income or expenses, as appropriate, Note 5.
Stock-based Compensation	Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The expected volatility was based upon its peer group. The Company routinely reviews its calculation of volatility changes in future volatility, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method for share-based compensation to estimate the expected term for employee option awards for share-based compensation in its option-pricing model. The Company uses the contractual term for non- employee options to estimate the expected term, for share-based compensation in its option-pricing model. Compensation expense for warrants granted to non-employees is determined by the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured, and is recognized over the service period. The expense is subsequently adjusted to fair value at the end of each reporting period until such warrants vest, and the fair value of such instruments, as adjusted, is expensed over the related vesting period. Adjustments to fair value at each reporting date may result in income or expense, depending upon the estimate of fair value and the amount of expense recorded prior to the adjustment. The Company reviews its agreements and the future performance obligation with respect to the unvested warrants for its vendors or consultants. When appropriate, the Company will expense the unvested warrants at the time when management deems the service obligation for future services has ceased.
Investment in Marketable Securities	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 its investment in marketable securities as available-for-sale securities. Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in Accumulated other comprehensive income (loss) in shareholders’ (deficit) equity. Realized gains and losses on sales of investments are included in financial expense, net and are derived using the specific identification method for determining the cost of securities.
Warrant Liabilities	Warrant liabilities The Company accounted for warrants to purchase shares of its common stock issued to its shareholders that include down round protective provisions, as a liability according to the provisions of ASC 815-40, “Derivatives and Hedging Contracts in Entity’ Own Equity”
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2018, and March 31, 2018, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States. The Company recognized a decrease related to its federal deferred tax assets and deferred tax liabilities, before the valuation allowance. Because a change in the valuation allowance completely offsets the change in deferred taxes, there was no impact on the condensed consolidated financial statements related to the rate change. The Company files a U.S. Federal income tax return, various state returns and International returns. Uncertain tax positions taken on the Company’s tax returns will be accounted for as liabilities for unrecognized tax benefits. The Company will recognize interest and penalties, if any, related to unrecognized tax benefits in income taxes in the statements of comprehensive income (loss). There Company has recorded $121 and $121 in accrued expenses, for uncertain tax positions as of September 30, 2018 and March 31, 2018, respectively.
Recently Issued Accounting Standards	Recently issued accounting standards In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, “Disclosure Update and Simplification,” amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule is effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed financial statements. The Company anticipates its first presentation of changes in stockholders’ equity will be included in its Form 10-Q for the quarter ended June 30, 2019. In August 2018, the Financial Accounting Standards Board (“ issued ASU”) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement The Company is evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Stock-based Compensation: Improvements to Nonemployee Share-based Payment Accounting The Company is evaluating of evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In May 2017, the FASB issued ASU 2017-09 (“ASU 2017-09”), Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This standard provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. . The impact of the adoption was immaterial to In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features. II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. This ASU affects all entities that issue financial instruments (for example, warrants or convertible instruments) that include down round features. Part I of this ASU relates to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share, while in Part II does not have an accounting effect. This update is effective for public business entities for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2018, early adoption is permitted for Part 1. The Company is in the process of evaluating the impact of this accounting standard update on our condensed consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02), which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. The Company is evaluating the effect that this guidance will have on our condensed consolidated financial statements and related disclosures. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted the standard commencing January 1, 2018 . The impact of the adoption was immaterial to our condensed consolidated financial statements.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financing Assets and Liabilties On Recurring Basis	As of September 30, 2018, and March 31, 2018, financial assets and liabilities measured at fair value on a recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations: As of September 30, 2018 As of March 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Marketable securities Marketable securities Mutual funds $ 3,937 $ 0 $ 0 $ 3,937 Mutual funds $ 7,698 $ 0 $ 0 $ 7,698 Short-term bond fund 612 0 0 612 Short-term bond fund 606 0 606 $ 4,549 $ 0 $ 0 $ 4,549 Total $ 8,304 $ 0 $ 0 $ 8,304 As of September 30, 2018 As of March 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities Warrant liabilities $ 0 $ 0 $ 9,029 $ 9,029 Warrant liabilities $ 0 $ 0 $ 5,678 $ 5,678
Schedule of Assumptions to Estimate the Investors' and Placement Agent's Warrants	The Company used the Black-Scholes option pricing model to value the warrant liabilities with the following assumptions to estimate the fair value as of September 30, 2018 and March 31, 2018 as follows: September 30, 2018 March 31, 2018 (Unaudited) Risk-free interest rate 2.93%-2.94 % 2.49%-2.51 % Expected volatility 81.23 % 84.54 % Expected life (in years) 3.29 - 3.50 3.79 - 4.00 Dividend yield 0 % 0 % Fair value per warrant liability $ 2.46 - 2.53 $ 1.55 - 1.59
Schedule of Changes in Level 3 Liabilities for Warrants	The changes in Level 3 fair value measurements associated with the warrant liabilities at fair value on a recurring basis as of September 30, 2018 is as follows: Number of warrants Fair value of liability related to warrants Balance as of April 1, 2018 3,635,270 $ 5,678 Change in fair value of warrant liabilities - 3,351 Balance as of September 30, 2018 3,635,270 $ 9,029

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit) (Tables)	6 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Option Activity	A summary of the Company’s options for the six months ended September 30, 2018 is as follows: Number Of Options Weighted Average Exercise price Weighted Average Remaining Contractual Life Options outstanding as of April 1, 2018 510,904 $ 4.32 8.96 Granted 927,000 4.25 Exercised (9,601 ) 4.25 Forfeited (33,333 ) 4.25 Options outstanding as of September 30, 2018 1,394,970 $ 4.29 8.8 Options exercisable as of September 30, 2018 444,136 $ 4.29 8.5
Schedule of Assumption of Black-Scholes Option Pricing Model	September 30, 2018 Risk-free interest rate 2.54%-3.05 % Expected volatility 80.68% - 81.23 % Expected term (in years) 5.0 - 9.9 Dividend yield 0 %
Schedule of Stock-based Compensation Expense	The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the condensed consolidated statements of comprehensive income (loss) for the six and three months ended September 30, 2018 and 2017, respectively: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Research and development $ 96 $ 73 $ 27 $ 76 General and administrative 826 2,213 815 389 Total stock-based compensation expense $ 922 $ 2,286 $ 842 $ 465

Financial Expense, Net (Tables)

Financial Expense, Net (Tables)	6 Months Ended
	Sep. 30, 2018
Other Income and Expenses [Abstract]
Schedule of Financial Income, Net	A summary of the financial income, for the six and three month ended September 30, 2018 and 2017, respectively is as following : Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Financial expenses, net: Bank fees and other $ 9 $ 6 $ 3 $ 4 Dividend income (64 ) - (29 ) - Foreign currency loss (gain) (1 ) (34 ) 2 4 Change in fair value of warrant liabilities 3,351 4,933 2,074 5,084 Total $ 3,295 $ 4,905 $ 2,050 $ 5,092

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Common Share (Tables)	6 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share	The computation of net loss per common share, basic and diluted, for the six and three months ended September 30, 2018 is as follows: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) Net loss attributable to holders of common stock $ 7,464 $ 10,029 $ 4,463 $ 7,149 Weighted average number of common shares used in computing basic and diluted net loss per commons share 8,420,281 6,143,579 8,440,457 6,045,515 Net loss per share of common stock, basic and diluted $ 0.89 $ 1.63 $ 0.53 $ 1.18
Schedule of Potential Anti-Dilutive Securities	The following potentially dilutive securities are not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive: Six Months Ended Three Months Ended September 30, September 30, 2018 2017 2018 2017 Common stock warrants 6,143,405 85,474 6,143,405 85,474 Common stock options 1,394,972 548,721 1,394,972 548,721 Restricted shares - 246,312 - 246,312 Total 7,538,377 880,507 7,538,377 880,507

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Commitments	Future minimum commitments for each of the fiscal years ending March 31, are as follows: Year Ended March 31, Operating Leases 2019 $ 40 2020 81 2021 83 2022 65 2023 65 2024 16 Total $ 350

Organization and Business (Deta

Organization and Business (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Aug. 10, 2018	Dec. 29, 2016	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Common stock, par value			$ 0.0001		$ 0.0001
Ordinary shares, authorized			100,000,000		100,000,000
Preferred shares, authorized			10,000,000		10,000,000
Preferred shares, par value			$ 0.0001		$ 0.0001
Reverse stock split			one-for-100
Conversion ratio			1:1
Cash flow from operating activities			$ 4,108	$ 3,101
Accumulated deficit			38,033		$ 30,569
Cash equivalent and marketable securities			4,865
Proceeds from issuance of common stock			$ (19)
Purchase Agreement [Member]
Cash purchase price	$ 20,000
Proceeds from issuance of common stock	$ 20,000
KokiCare Inc. [Member]
Cash purchase price		$ 320
Cash dividend		$ 2.50
KokiCare Inc. [Member] | Common Stock [Member]
Treasury stock shares acquired		90,000
Common stock, par value		$ 0.0001
Treasury stock shares acquired, value		$ 25

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Sep. 30, 2018	Mar. 31, 2018
Accounting Policies [Abstract]
Federal statutory income tax rate	21.00%
Income tax, description		On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States.
Accrued expenses related to uncertain tax positions		$ 121	$ 121

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value of Financing Assets and Liabilties On Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2017
Marketable securities, total	$ 4,549	$ 8,304
Warrant liabilities	9,029	5,678
Mutual Fund [Member]
Marketable securities, total	3,937	7,698
Short-term bondfund [Member]
Marketable securities, total	612	606
Level 1 [Member]
Marketable securities, total	4,549	8,304
Warrant liabilities	0	0
Level 1 [Member] | Mutual Fund [Member]
Marketable securities, total	3,937	7,698
Level 1 [Member] | Short-term bondfund [Member]
Marketable securities, total	612	606
Level 2 [Member]
Marketable securities, total	0	0
Warrant liabilities	0	0
Level 2 [Member] | Mutual Fund [Member]
Marketable securities, total	0		$ 0
Level 2 [Member] | Short-term bondfund [Member]
Marketable securities, total	0	0
Level 3 [Member]
Marketable securities, total	0	0
Warrant liabilities	9,029	5,678
Level 3 [Member] | Mutual Fund [Member]
Marketable securities, total	0	0
Level 3 [Member] | Short-term bondfund [Member]
Marketable securities, total	$ 0	$ 0

Fair Value Measurement - Sche_2

Fair Value Measurement - Schedule of Assumptions to Estimate the Investors' and Placement Agent's Warrants (Details) - Investors' and Placement Agent's Warrants [Member] - Fair Value of Liability Related to Warrants - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Sep. 30, 2018
Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value per warrant	$ 1.55	$ 2.46
Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value per warrant	$ 1.59	$ 2.53
Risk-Free Interest Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, percentage	2.49%	2.93%
Risk-Free Interest Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, percentage	2.51%	2.94%
Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, percentage	84.54%	81.23%
Expected Life (in years) [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, term	3 years 9 months 14 days	3 years 3 months 15 days
Expected Life (in years) [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, term	4 years	3 years 6 months
Dividend Yield [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, percentage	0.00%	0.00%

Fair Value Measurement - Sche_3

Fair Value Measurement - Schedule of Changes in Level 3 Liabilities for Warrants (Details) - Investors' and Placement Agent's Warrants [Member] - Fair Value of Liability Related to Warrants $ in Thousands	6 Months Ended
	Sep. 30, 2018USD ($)shares
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number warrants balance at April 30, 2018 | shares	3,635,270
Number warrants Revaluation of warrants to purchase Common Stock | shares
Number warrants balance at September 30, 2018 | shares	3,635,270
Fair value of liability related to warrants balance at April 30, 2018 | $	$ 5,678
Fair value of liability related to warrants Revaluation of warrants to purchase Common Stock | $	3,351
Fair value of liability related to warrants Balance at September 30, 2018 | $	$ 9,029

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit) (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands

Aug. 10, 2018

Aug. 02, 2018

Feb. 16, 2018

Jan. 13, 2017

Sep. 07, 2016

Jan. 31, 2017

Sep. 30, 2018

Sep. 30, 2017

Jun. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

May 10, 2018

Mar. 31, 2018

Feb. 28, 2018

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

Common stock , par value

$ 0.0001

$ 0.0001

$ 0.0001

Warrant exercise price

$ 4.80

$ 4.80

Proceeds from issuance of common stock

$ (19)

Stock-based compensation

$ 922

$ 2,286

Common stock reserved for issuance

105,028

105,028

Aggregate intrinsic value of exercisable options

$ 40

$ 40

Shares called by warrants

178,570

29,763

Research and Development Expense [Member]

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

Stock-based compensation

$ 56

$ 0

2013 Incentive Option Plan [Member]

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

Number of restricted shares issued

1,500,000

Additional shares authorized

1,033,324

Common stock reserved for issuance

1,500,000

1,500,000

Aggregate intrinsic value of outstanding options

$ 132

$ 132

Aggregate intrinsic value of exercisable options

27

27

Unrecognized stock based compensation expense

2,168

$ 2,168

Weighted average remaining service period

2 years 3 months 19 days

Weighted average fair value of options granted

$ 2.72

$ 1.76

RSU [Member]

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

Stock-based compensation

$ 0

$ 0

$ 0

$ 844

Minimum [Member] | 2013 Incentive Option Plan [Member]

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

Options vesting terms

2 years

Maximum [Member] | 2013 Incentive Option Plan [Member]

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

Options vesting terms

4 years

Purchase Agreement [Member]

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

Net proceeds from issuance of offering

$ 527

$ (19)

Offering expenses

546

Cash purchase price

20,000

Proceeds from issuance of common stock

$ 20,000

Number of common stock issued

117,000

Shares issued price per share

$ 4.50

Number of shares available for grant

19,428

Purchase Agreement [Member] | October 28, 2018 [Member]

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

Number of shares sold

10,000

Purchase Agreement [Member] | Minimum [Member]

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

Cash purchase price

$ 750

Purchase Agreement [Member] | LPC [Member]

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

Option issued to purchase common stock

10,000

Option Agreement [Member]

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

Acquisition cost to purchase intellectual property

$ 25

Stock options exercised

500

Board of Directors Chairman [Member]

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

Warrant exercise price

$ 4.25

Outstanding option price per share

$ 4.25

$ 4.25

Director [Member]

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

Number of restricted shares issued

492,624

Restricted stock units vested

246,312

Percentage of restricted shares cancelled

50.00%

Third Party [Member] | Warrant [Member]

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

Warrant exercise price

$ 4.80

$ 4.80

Shares called by warrants

178,570

29,763

Tranche A Warrants [Member]

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

Option issued to purchase common stock

2,299,802

Warrant exercise price

$ 4.25

Net proceeds from issuance of offering

$ 8,734

Offering expenses

$ 1,086

Tranche B Warrants [Member]

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

Warrant exercise price

$ 4.25

Securities Purchase Agreement [Member]

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

Option issued to purchase common stock

4,599,604

Common stock , par value

$ 0.0001

Purchase price of stock

$ 0.01

Shareholders' Equity (Deficit_3

Shareholders' Equity (Deficit) - Schedule of Option Activity (Details) - Employees and Directors [Member]	6 Months Ended
	Sep. 30, 2018$ / sharesshares
Number of options outstanding at beginning of period | shares	501,305
Number of options, Granted | shares	927,000
Number of options, Exercised | shares	(9,601)
Number of options, Forfeited | shares	(33,333)
Number of options outstanding at end of period | shares	1,394,970
Number of options exercisable at end of year | shares	444,136
Weighted average exercise price outstanding at beginning of period | $ / shares	$ 4.32
Weighted average exercise price, Granted | $ / shares	4.25
Weighted average exercise price, Exercised | $ / shares	4.25
Weighted average exercise price, Forfeited | $ / shares	4.25
Weighted average exercise price outstanding at end of period | $ / shares	4.29
Weighted average exercise price exercisable at end of year | $ / shares	$ 4.29
Weighted average remaining contractual life outstanding at beginning of period	8 years 11 months 15 days
Weighted average remaining contractual life outstanding at ending of period	8 years 6 months
Weighted average remaining contractual life exercisable at end of period	9 years 4 months 24 days

Shareholders' Equity (Deficit_4

Shareholders' Equity (Deficit) - Schedule of Assumption of Black-Scholes Option Pricing Model (Details)	6 Months Ended
	Sep. 30, 2018
Dividend yield	0.00%
Minimum [Member]
Risk-free interest rate	2.54%
Expected volatility	80.68%
Expected term (in years)	5 years
Maximum [Member]
Risk-free interest rate	3.05%
Expected volatility	81.23%
Expected term (in years)	9 years 10 months 25 days

Shareholders' Equity (Deficit_5

Shareholders' Equity (Deficit) - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based compensation expense	$ 842	$ 465	$ 922	$ 2,286
Research and Development Expenses [Member]
Share-based compensation expense	27	76	96	73
General and Administrative Expenses [Member]
Share-based compensation expense	$ 815	$ 389	$ 826	$ 2,213

Financial Expense, Net - Schedu

Financial Expense, Net - Schedule of Financial Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Income and Expenses [Abstract]
Bank fees and other	$ 3	$ 4	$ 9	$ 6
Dividend income	(29)		(64)
Foreign currency loss (gain)	2	4	(1)	(34)
Change in fair value of warrant liabilities	2,074	5,084	3,351	4,933
Financial expenses, net	$ 2,050	$ 5,092	$ 3,295	$ 4,905

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Common Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net loss attributable to holders of Common stock as reported	$ (4,463)	$ (7,149)	$ (7,464)	$ (10,029)
Weighted average number of shares of Common stock used in computing basic and diluted net loss per share	8,440,457	6,045,515	8,420,281	6,143,579
Net loss per share of Common stock, basic and diluted	$ 0.53	$ 1.18	$ 0.89	$ 1.63

Basic and Diluted Net Loss Pe_4

Basic and Diluted Net Loss Per Common Share - Schedule of Potential Anti-Dilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Total	7,538,377	880,507	7,538,377	880,507
Common Stock Warrants [Member]
Total	6,143,405	85,474	6,143,405	85,474
Common Stock Options [Member]
Total	1,394,972	548,721	1,394,972	548,721
Restricted Stock [Member]
Total		246,312		246,312

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands

Jan. 31, 2018

Sep. 07, 2016

Oct. 22, 2013

Apr. 30, 2018

Mar. 31, 2018

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

May 10, 2018

Jun. 30, 2017

Jan. 13, 2017

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

Warrants to purchase ordinary shares

29,763

178,570

Exercise price

$ 4.80

$ 4.80

Rent expense

$ 23

$ 21

$ 50

$ 18

Israeli [Member]

Outsatnding rent

$ 18

NitricGen, Inc [Member

Warrants to purchase ordinary shares

100,000

Exercise price

$ 6.90

Future payments depends on certain milestones

$ 2,000

Option Agreement [Member]

Fee paid for option to purchase certain intellectual property

$ 25

Lease Agreement [Member]

Lease agreement expiration, description

expire on April 2021 and June 2023

expire on April 2021 and June 2023

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Commitments (Details) $ in Thousands	Mar. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 40
2,020	81
2,021	83
2,022	65
2,023	65
2,024	16
Total	$ 350

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Nov. 01, 2018	Oct. 28, 2018	Sep. 30, 2018
Gross proceeds from common stock			$ (19)
Subsequent Event [Member]
Number of common stock purchased		10,000
Exercise price of shares		$ 4.50
Gross proceeds from common stock		$ 46
Mr. Beck [Member] | Subsequent Event [Member]
Number of common stock purchased	85,000
Exercise price of shares	$ 4.25
Options vest term	4 years
Options expires	10 years