Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Cellect Biotechnology Ltd. |
Entity Central Index Key | 1,671,502 |
Trading Symbol | APOP |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Type | 20-F |
Document Fiscal Period Focus | FY |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 120,140,659 |
Consolidated Balance Sheets
Consolidated Balance Sheets ₪ in Thousands, $ in Thousands | Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) |
CURRENT ASSETS: | |||
Cash and cash equivalents | ₪ 13,734 | $ 3,961 | ₪ 6,279 |
Short term deposits | 19,660 | ||
Marketable securities | 13,999 | 4,038 | 4,997 |
Other receivables | 818 | 236 | 1,461 |
Current assets | 28,551 | 8,235 | 32,397 |
LONG-TERM ASSETS: | |||
Restricted cash | 305 | 88 | 140 |
Other Long term receivables | 173 | 50 | |
Property, plant and equipment, net | 1,344 | 388 | 1,373 |
Non-current assets | 1,822 | 526 | 1,513 |
Assets | 30,373 | 8,761 | 33,910 |
CURRENT LIABILITIES: | |||
Trade payables | 1,703 | 491 | 1,401 |
Other payables | 2,396 | 691 | 2,084 |
Current liabilities | 4,099 | 1,182 | 3,485 |
NON CURRENT LIABILITIES: | |||
Warrants to ADS | 7,422 | 2,141 | 1,938 |
CONTINGENT LIABILITIES AND COMMITMENTS | |||
SHAREHOLDERS' EQUITY : | |||
Ordinary shares of no par value: Authorized: 500,000,000 shares at December 31, 2016, and 2017, Issued and outstanding: 107,628,485*) and 120,185,659*) shares as of December 31, 2016 and 2017, respectively. | |||
Additional Paid In Capital | 82,839 | 23,894 | 67,414 |
Share-based payments | 9,381 | 2,706 | 6,217 |
Treasury shares | (9,425) | (2,718) | (9,425) |
Accumulated deficit | (63,943) | (18,444) | (35,719) |
Equity | 18,852 | 5,438 | 28,487 |
Equity and liabilities | ₪ 30,373 | $ 8,761 | ₪ 33,910 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - ₪ / shares | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of financial position [Abstract] | |||
Ordinary shares, par value | |||
Ordinary shares, authorized | 500,000,000 | 500,000,000 | |
Ordinary shares, issued | [1] | 120,140,659 | 107,583,485 |
Ordinary shares, outstanding | [1] | 120,140,659 | 107,583,485 |
Treasury shares | 2,641,693 | 2,641,693 | |
[1] | Net of 2,641,693 treasury shares of the Company, held by the Company. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪)₪ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016ILS (₪)₪ / sharesshares | Dec. 31, 2015ILS (₪)₪ / sharesshares | |
Statement of comprehensive income [Abstract] | ||||
Research and development expenses, net | ₪ 11,503 | $ 3,318 | ₪ 8,256 | ₪ 5,893 |
General and administrative expenses | 12,930 | 3,729 | 7,968 | 4,204 |
Other Income | (280) | |||
Total operating expenses | 24,433 | 7,047 | 15,944 | 10,097 |
Operating loss | 24,433 | 7,047 | 15,944 | 10,097 |
Financial income | (101) | (29) | (660) | (4) |
Financial expenses | 3,892 | 1,123 | 33 | 79 |
Total Comprehensive loss | ₪ 28,224 | $ 8,141 | ₪ 15,317 | ₪ 10,172 |
Loss per share | ||||
Basic and diluted loss per share | (per share) | ₪ 0.252 | $ 0.073 | ₪ 0.168 | ₪ 0.137 |
Basic and diluted loss per ADS | (per share) | ₪ 5.04 | $ 1.46 | ₪ 3.36 | ₪ 2.74 |
Weighted average number of shares outstanding used to compute basic and diluted loss per share | 111,968,663 | 111,968,663 | 91,128,516 | 74,475,109 |
Statements of Changes in Equity
Statements of Changes in Equity ₪ in Thousands, $ in Thousands | ILS (₪) | USD ($) | Share capitalILS (₪) | Share capitalUSD ($) | Additional paid in capitalILS (₪) | Additional paid in capitalUSD ($) | Treasury sharesILS (₪) | Treasury sharesUSD ($) | Share based paymentsILS (₪) | Share based paymentsUSD ($) | Accumulated deficitILS (₪) | Accumulated deficitUSD ($) |
Balance at Dec. 31, 2014 | ₪ 12,959 | ₪ 30,904 | ₪ (9,425) | ₪ 1,710 | ₪ (10,230) | |||||||
Issuance of ADS net of issue costs | 6,292 | 5,596 | 696 | |||||||||
Share-based payment | 1,318 | 1,318 | ||||||||||
Exercise of share options and warrants | 104 | 225 | (121) | |||||||||
Total comprehensive loss | (10,172) | (10,172) | ||||||||||
Balance at Dec. 31, 2015 | 10,501 | 36,725 | (9,425) | 3,603 | (20,402) | |||||||
Issuance of ADS net of issue costs | 31,744 | 30,682 | 1,062 | |||||||||
Share-based payment | 1,552 | 1,552 | ||||||||||
Exercise of share options and warrants | 7 | 7 | ||||||||||
Total comprehensive loss | (15,317) | (15,317) | ||||||||||
Balance at Dec. 31, 2016 | 28,487 | 67,414 | (9,425) | 6,217 | (35,719) | |||||||
Issuance of ADS net of issue costs | 11,773 | 11,693 | 80 | |||||||||
Share-based payment | 5,384 | 642 | 4,742 | |||||||||
Exercise of share options and warrants | 1,432 | 2,470 | (1,038) | |||||||||
Expiration of share options | 620 | (620) | ||||||||||
Total comprehensive loss | (28,224) | $ (8,141) | (28,224) | |||||||||
Balance at Dec. 31, 2017 | ₪ 18,852 | $ 5,438 | ₪ 82,839 | $ 23,894 | ₪ (9,425) | $ (2,718) | ₪ 9,381 | $ 2,706 | ₪ (63,943) | $ (18,444) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | Dec. 31, 2015ILS (₪) | |
Cash Flows from Operating Activities: | ||||
Total Comprehensive Loss | ₪ (28,224) | $ (8,141) | ₪ (15,317) | ₪ (10,172) |
Adjustments to profit and loss items: | ||||
Net financing expenses | 532 | 154 | 134 | 69 |
Loss (Gain) from revaluation of financial assets presented at fair value through profit and loss | 139 | 40 | (106) | (2) |
Depreciation and capital loss from sale of property, plant and equipment | 372 | 107 | 350 | 71 |
Share-based payment | 5,384 | 1,553 | 1,552 | 1,318 |
Changes in fair value of Traded and Non Traded Warrants To ADS | 3,003 | 866 | (1,235) | |
Adjustments to profit and loss | 9,430 | 2,720 | 695 | 1,456 |
Changes in asset and liability items: | ||||
Decrease (increase) in other receivables | 470 | 136 | (1,049) | (328) |
Increase in other payables | 407 | 117 | 1,259 | 1,333 |
Operating activities for changes in asset and liability | 877 | 253 | 210 | 1,005 |
Cash paid and received during the year for: | ||||
Interest received | 147 | 42 | 1 | |
Cash paid and received during the year | 1 | |||
Net cash used in operating activities | (17,770) | (5,126) | (14,412) | (7,710) |
Cash Flows from Investing Activities: | ||||
Proceeds received from the sale of fixed assets | 95 | 77 | ||
Short term deposits, net | 19,530 | 5,633 | (19,530) | |
Restricted deposit | (165) | (47) | (120) | |
Marketable securities measured at fair value through profit and loss, net | (9,008) | (2,599) | 2,808 | 3,430 |
Purchase of property, plant and equipment | (266) | (77) | (1,265) | (332) |
Net cash provided by (used in) investing activities | 10,091 | 2,910 | (18,012) | 3,175 |
Cash Flows from Financing Activities: | ||||
Exercise of warrants and stock options into shares | 1,432 | 414 | 7 | 104 |
Issuance of share capital and warrants, net of issue costs (see note 11) | 14,381 | 4,148 | 34,917 | 6,292 |
Net cash provided by financing activities | 15,813 | 4,562 | 34,924 | 6,396 |
Exchange differences on balances of cash and cash equivalents | (679) | (196) | (134) | (70) |
Increase in cash and cash equivalents | 7,455 | 2,150 | 2,366 | 1,791 |
Balance of cash and cash equivalents at the beginning of the year | 6,279 | 1,811 | 3,913 | 2,122 |
Balance of cash and cash equivalents at the end of the year | 13,734 | 3,961 | 6,279 | 3,913 |
(a) Non-cash activities: | ||||
Purchase of property, plant and equipment | 77 | 22 | 58 | 692 |
Issuance costs | ₪ 127 | $ 37 |
General
General | 12 Months Ended |
Dec. 31, 2017 | |
General [Abstract] | |
GENERAL | NOTE 1:- GENERAL a. Cellect Biotechnology Ltd. (formerly Cellect Biomed Ltd.) (the "Company" or "Cellect") is incorporated in Israel. Cellect and its subsidiary, Cellect Biotherapeutics Ltd. (the "Subsidiary") are engaged in the development of an innovative, unique technology that enables the biological filtering and commercialization of stem cells. Cellect’s American Depository Shares (“ADSs”) and certain warrants to purchase ADSs are listed for trading on the NASDAQ Capital Market. Each ADS represents 20 ordinary shares. On May 29, 2017, the Company announced that it received approval of the Israeli court to voluntarily delist the Company's ordinary shares from the Tel-Aviv Stock Exchange (TASE) in accordance with Section 350 to the Israeli Companies Law. The court approval followed the approval of the Company's shareholders on May 9, 2017. On June 7, 2017, the TASE announced that the last trading day in Tel Aviv will be on September 3, 2017, and that the de-listing date will be on September 5, 2017. As a result, on September 5, 2017, the Company's ordinary shares were voluntarily delisted from TASE. The ordinary shares of the Company continue to be listed on the NASDAQ Capital Market in the form of ADSs. b. Going Concern The accompanying financial statements have been prepared in conformity with International Financial Reporting Standards (IFRS), assuming that the Company will continue to operate as a going concern. During the year ended December 31, 2017, the Company incurred a net loss of NIS 28,224 ($8,141) and had negative cash flows from operating activities of NIS 17,770 ($5,126). In addition, the Company had an accumulated deficit of NIS 63,943 ($18,444) at December 31, 2017. The Company's management plans to seek additional equity financing. The Company believes its current capital resources are sufficient to support its operations through the end of the first quarter of 2019. The Company’s activities since inception have consisted of raising capital and performing research and development activities. As of December 31, 2017, principal commercial operations have not commenced. Successful completion of the Company’s development programs and, ultimately, the attainment of profitable operations, if any, are dependent on future events, including, among other things, its ability to obtain marketing approval from regulatory authorities and access potential markets, secure financing, develop a customer base, attract, retain and motivate qualified personnel and develop strategic alliances. Although management believes that the Company will be able to successfully fund its operations, there can be no assurance that the Company will be able to do so or that the Company will ever operate profitably. The Company expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need, among other things, to complete its research and development efforts and clinical and regulatory activities. These activities may take several years and will require significant operating and capital expenditures in the foreseeable future. There can be no assurance that these activities will be successful. If the Company is not successful in these activities it could delay, limit, reduce or terminate preclinical studies, clinical trials or other research and development activities. To fund its capital needs, the Company plans to raise funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, from the proceeds from sales. Additional funds may not be available when the Company needs them, on terms that are acceptable to it, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern. In addition, please refer to note 16. c. The Company currently relies on a single source supplier for one of the components used in R&D process. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in the consolidated financial statements for all periods presented, unless otherwise stated. a. Basis of presentation of the financial statements: These financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board ("IASB"). The Company's financial statements have been prepared on a cost basis, except for marketable securities and liability related to warrants that are measured at fair value through profit or loss. The Company has elected to present profit or loss items using the "function of expense" method. The Company's operating cycle is one year. b. Consolidated financial statements: The consolidated financial statements include the financial statements of companies that the Company controls (subsidiaries). Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity. The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases. The financial statements of the Company and its subsidiaries (the "Group") are prepared as of the same dates and periods. The consolidated financial statements are prepared using uniform accounting policies by all companies in the Group. Significant intercompany balances and transactions and gains or losses resulting from intragroup transactions are eliminated in full in the consolidated financial statements. c. Functional currency, reporting currency and foreign currency: 1. Functional currency and reporting currency: The reporting and the functional currency of the Company is the New Israeli Shekel (“NIS”). The Company determines the functional currency of each company in the Group. The functional currency is used to measure the financial condition and results of operations of each company separately . 2. Transactions, assets and liabilities in foreign currency: Transactions denominated in foreign currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are translated on each reporting date into the functional currency at the exchange rate at that date. Exchange rate differences are recognized in profit or loss. d. Convenience translation into U.S. dollars: The financial statements as of December 31, 2017 and for the year then ended have been translated into U.S. dollars using the exchange rate of the U.S. dollar as of December 31, 2017 (U.S. $1.00 = NIS 3.467). The translation was made solely for convenience purposes. The dollar amounts presented in these financial statements should not be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated. e. Cash equivalents: Cash equivalents are considered as highly liquid investments, including unrestricted short-term bank deposits with an original maturity of three months or less from the date of acquisition. f. Restricted cash: Restricted cash is primarily invested to secure credit card payments and is used as security for the Company's lease commitment. g. Taxes on income: Tax results with respect to current or deferred taxes are recognized in profit or loss, unless they relate to items recognized in other comprehensive income or equity. 1. Current taxes The liability for current taxes is determined using the tax rates and tax laws that were enacted, or essentially enacted, by the reporting date, as well as adjustments required in connection with the taxes payable in respect of prior years. 2. Deferred taxes Deferred taxes are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred tax asset is recognized to the extent that their utilization is probable. Taxes that would apply in the event of the disposal of investments in investees have not been taken into account in computing deferred taxes, as long as the disposal of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution of earnings by investees as dividends have not been taken into account in computing deferred taxes, since the distribution of dividends does not involve an additional tax liability or since it is the Company's policy not to initiate distribution of dividends from a subsidiary that would trigger an additional tax liability. Taxes on income that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to IAS 12. Deferred taxes are offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate to the same taxpayer and the same taxation authority. Deferred taxes are offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate to the same taxpayer and the same taxation authority. h. Property, plant and equipment: Property, plant and equipment are measured at cost, including directly attributable costs, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful life of the assets at annual rates as follows: % Computers and Electronic Equipment 33 Laboratory and clinical experiments equipment 15 Leasehold improvements (* Office furniture and equipment 7 - 15 (* The useful life, depreciation method and residual value of an asset are reviewed at least each year-end and any changes are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized. An asset is derecognized upon disposal or when no further economic benefits are expected from its use. i. Research and development expenses, net of participations: Research and development expenses are recognized in profit or loss when incurred. An intangible asset arising from a development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale; the Company's intention to complete the intangible asset and use or sell it; the Company's ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits; The availability of adequate technical, financial and other resources to complete the intangible asset; and the Company's ability to measure reliably the expenditure attributable to the intangible asset during its development. j. Government grants: Government grants received from the Israel-U.S. Binational Industrial Research and Development ("BIRD") Foundation are recognized upon receipt as a reduction in research and development expenses, as the Company evaluated that there is reasonable assurance that the Company will not be required to pay royalties, based on the best estimate of future sales using the original effective method. k. Impairment of non-financial assets: The Company evaluates the need to record an impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit or loss. An impairment loss of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is recognized in profit or loss. m. Financial assets: Financial assets within the scope of Financial Instruments: Recognition and Measurement After initial recognition, the accounting treatment of financial assets is based on their classification as follows: Financial assets at fair value through profit or loss This category includes financial assets designated upon initial recognition at fair value through profit or loss. Loans and receivables Loans and receivables are investments with fixed or determinable payments that are not quoted in an active market. After initial recognition, loans are measured based on their terms at amortized cost plus directly attributable transaction costs using the effective interest method and less any impairment losses. Short-term borrowings are measured based on their terms, normally at face value. Financial liabilities: Financial liabilities within the scope of IAS 39 are initially measured at fair value. After initial recognition, other liabilities are measured according to their terms at amortized cost using the effective interest method, taking into account directly attributable transaction costs. The warrants were classified as a financial liability at fair value measured by quoted price and are marked to market through profit or loss in accordance with IAS 39. Issue of a unit of securities: The issue of a unit of securities involves the allocation of the proceeds received (before issue expenses) to the securities issued in the unit based on the following order: financial derivatives and other financial instruments measured at fair value in each period. Then fair value is determined for financial liabilities that are measured at amortized cost. The proceeds allocated to equity instruments are determined to be the residual amount. Issue costs are allocated to each component pro rata to the amounts determined for each component in the unit. n. Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset's or the liability's principal market, or in the absence of a principal market, in the most advantageous market. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs All assets and liabilities measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the lowest level input that is significant to the entire fair value measurement: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 - inputs other than quoted prices included within Level 1 that are observable directly or indirectly. Level 3 - inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data). o. Treasury shares The Company's shares held by the Company are measured at their acquisition cost and are presented as an offset against the Company's equity. Any gain or loss deriving from the purchase, sale, issuance or cancellation of treasury shares is recognized directly in equity. p. Employee benefit liabilities: The Group has several employee benefit plans: 1. Short-term employment benefits: Short-term employee benefits are expected to be settled in full less than 12 months after the end of the annual reporting period in which the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social security contributions and are recognized as expenses as the services are rendered. The liability for a cash bonus or profit-participating plan is recognized when the Company has a legal or constructive obligation to pay the said amount in respect of past services rendered by the employee and the amount may be reliably estimated. 2. Post-employment benefits: Post- The Company has defined contribution plans pursuant to Section 14 of the Israeli Severance Pay Law, into which the Company pays fixed contributions and has no legal or constructive obligation to pay further contributions on account of severance pay, even if the fund does not hold sufficient amounts to pay all employee benefits relating to employee service in current and prior periods. Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee's services. q. Share-based payment transactions: From time to time the Company grants to its employees and other service providers remuneration in the form of equity-settled share-based instruments, such as options to purchase ordinary shares. Equity-settled transactions : The cost of equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value is determined using an acceptable option pricing model. As for other service providers, the cost of the transactions is measured at the fair value of the goods or services received as consideration for equity instruments. In cases where the fair value of the goods or services received as consideration of equity instruments cannot be measured, they are measured by reference to the fair value of the equity instruments granted. The cost of equity-settled transactions is recognized in profit or loss, together with a corresponding increase in equity, during the period in which the performance or service conditions are satisfied, and ending on the date on which the relevant employees become fully entitled to the award (the "Vesting Period"). No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vested irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance) are satisfied. When the Company changes the conditions of the award of equity-settled instruments, an additional expense is recognized beyond the original expense, calculated in respect of a change that increases the total fair value of the remuneration granted or benefits the other service provider according to the fair value on date of change. Cancellation of the award of equity-settled instruments is accounted for as having vested at the cancellation date and the expense not yet recognized in respect of the award is recognized immediately. However, if the cancelled grant is replaced by a new grant, and is intended as an alternate grant at the date awarded, the cancelled and new awards will both be accounted for as a change to the original award, as described above. r. Loss per share: Loss per share is calculated by dividing the net loss attributable to Company shareholders by the weighted number of outstanding ordinary shares during the period. Potential ordinary shares are only included in the computation of diluted loss per share when their conversion increases loss per share or decreases income per share. Potential ordinary shares that are converted during the period are included in diluted loss per share only until the conversion date and from that date in basic loss per share. |
Significant Accounting Judgment
Significant Accounting Judgments, Estimates and Assumptions Used in Preparation of the Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Judgments, Estimates and Assumptions used in Preparation of the Financial Statements [Abstract] | |
SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS USED IN PREPARATION OF THE FINANCIAL STATEMENTS | NOTE 3:- SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS USED IN PREPARATION OF THE FINANCIAL STATEMENTS Estimates and assumptions: The preparation of the Group's financial statements requires management to make estimates and assumptions that have an effect on application of the accounting policies and on the reported amounts of assets, liabilities and expenses. Changes in accounting estimates are The key assumptions made in the financial statements concerning uncertainties at the ● Determining the fair value of share-based transactions The fair value of share based transactions is determined upon initial recognition using acceptable option pricing models. The model is based on per-share price data and the exercise price and assumptions regarding expected volatility, expected life, expected dividend and risk-free interest rate. |
Disclosure of New Standards in
Disclosure of New Standards in the Period Prior to their Adoption | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of New Standards In The Period Prior To Their Adoption [Abstract] | |
DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION | NOTE 4:- DISCLOSURE OF NEW STANDARDS IN THE PERIOD PRIOR TO THEIR ADOPTION a. IFRS 15, "Revenue from Contracts with Customers": IFRS 15 was issued by the IASB in May 2014. IFRS 15 replaces IAS 18, "Revenue", IAS 11, "Construction Contracts", IFRIC 13, "Customer Loyalty Programs", IFRIC 15, "Agreements for the Construction of Real Estate", IFRIC 18, "Transfers of Assets from Customers" and SIC-31, "Revenue - Barter Transactions Involving Advertising Services". IFRS 15 introduces a five-step model that will apply to revenue earned from contracts with customers: Step 1: Identify the contract with a customer Step 2: Identify the separate performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the separate performance obligations Step 5: Recognize revenue when a performance obligation is satisfied, b. IFRS 9, "Financial Instruments": In July 2014, the IASB issued the final and complete version of IFRS 9, "Financial Instruments" ("IFRS 9"), which replaces IAS 39, "Financial Instruments: Recognition and Measurement". IFRS 9 mainly focuses on the classification and measurement of financial assets and it applies to all assets in the scope of IAS 39. According to IFRS 9, all financial assets are measured at fair value upon initial recognition. In subsequent periods, debt instruments are measured at amortized cost only if both of the following conditions are met: - The asset is held within a business model whose objective is to hold assets in order to collect the contractual cash flows. - the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. IFRS 9 also includes a new model for measurement of impairment of financial assets. Subsequent measurement of all other debt instruments and financial assets should be at fair value. IFRS 9 establishes a distinction between debt instruments to be measured at fair value through profit or loss and debt instruments to be measured at fair value through other comprehensive income. Financial assets that are equity instruments should be measured in subsequent periods at fair value and the changes recognized in profit or loss or in other comprehensive income (loss), in accordance with the election by the Company on an instrument-by-instrument basis. If equity instruments are held for trading, they should be measured at fair value through profit or loss. According to IFRS 9, the provisions of IAS 39 will continue to apply to derecognition and to financial liabilities for which the fair value option has not been elected. According to IFRS 9 The Company will adopt the new standard effective January 1, 2018. The Company does not expect the adoption IFRS 9 to have material impact on its financial statements. c. IFRS 16, "Leases": In January 2016, the IASB issued IFRS 16, "Leases". According to IFRS 16, a lease is a contract, or part of a contract, that conveys the right to use an asset for a period of time in exchange for consideration. According to IFRS 16: ● Lessees are required to recognize an asset and a corresponding liability in the statement of financial position in respect of all leases (except in certain cases) similar to the accounting treatment of finance leases according to the existing IAS 17, "Leases". ● Lessees are required to initially recognize a lease liability for the obligation to make lease payments and a corresponding right-of-use asset. Lessees will also recognize interest and depreciation expenses separately. ● Variable lease payments that are not dependent on changes in the Consumer Price Index ("CPI") or interest rates, but are based on performance or use (such as a percentage of revenues) are recognized as an expense by the lessees as incurred and recognized as income by the lessors as earned. ● In the event of change in variable lease payments that are CPI-linked, lessees are required to remeasure the lease liability and the effect of the remeasurement is an adjustment to the carrying amount of the right-of-use asset. ● IFRS 16 includes two exceptions according to which lessees are permitted to elect to apply a method similar to the current accounting treatment for operating leases. These exceptions are leases for which the underlying asset is of low value and leases with a term of up to one year. ● The accounting treatment by lessors remains substantially unchanged, namely classification of a lease as a finance lease or an operating lease. For leases existing at the date of transition, IFRS 16 The Company is currently evaluating the impact of implementing this guidance on its consolidated financial statements. In 2018, the Company will continue to assess the potential effect of IFRS 16 on its consolidated financial statements as well as its adoption methodology. |
Merger with Cellect Biotherapeu
Merger with Cellect Biotherapeutics Ltd. (Formerly "Cellect Biotechnology Ltd") | 12 Months Ended |
Dec. 31, 2017 | |
Merger with Cellect Biotherapeutics Ltd. (Formerly "Cellect Biotechnology Ltd") [Abstract] | |
MERGER WITH CELLECT BIOTHERAPEUTICS LTD. (formerly "Cellect Biotechnology Ltd") | NOTE 5:- MERGER WITH CELLECT BIOTHERAPEUTICS LTD. (formerly "Cellect Biotechnology Ltd") The merger between the Company and the Subsidiary, a private company engaged in development of innovative, unique technology, enabling selection of biologically filtered stem cells and commercialization, closed on July 1, 2013. Under the terms of the agreement, 44,887,373 ordinary shares, NIS 1.00 par value each, of the Company, constituting 85% of its equity, were issued to shareholders of the Subsidiary, as well as an aggregate of 568,395 options (not listed for trading), each exercisable for one ordinary share of the Company, NIS 1.00 par value each, in consideration for the entire share capital of the Subsidiary including all of the existing options in the Subsidiary, such that following the merger, the Subsidiary became a wholly-owned subsidiary of the Company. Out of the options granted, an amount of 113,698 Series 1 unlisted options are exercisable until April 30, 2018, at an exercise price of NIS 1.00 per option. |
Marketable Securities Measured
Marketable Securities Measured at Fair Value through Profit and Loss | 12 Months Ended |
Dec. 31, 2017 | |
Marketable Securities Measured at Fair Value Through Profit and Loss [Abstract] | |
MARKETABLE SECURITIES MEASURED AT FAIR VALUE THROUGH PROFIT AND LOSS | NOTE 6:- MARKETABLE SECURITIES MEASURED AT FAIR VALUE THROUGH PROFIT AND LOSS Marketable securities are measured at fair value through profit and loss. As of December 31, 2017 and 2016, the marketable securities are comprised of NIS mutual funds that follow changes in short term Bank of Israel interest. |
Other Receivables
Other Receivables | 12 Months Ended |
Dec. 31, 2017 | |
Other Receivables [Abstract] | |
OTHER RECEIVABLES | NOTE 7:- OTHER RECEIVABLES Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Other receivables 51 60 17 Government authorities 611 185 54 Prepaid expenses 799 573 165 1,461 818 236 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment, Net [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 8:- PROPERTY, PLANT AND EQUIPMENT, NET Balance as of December 31, 2017: Laboratory equipment Leasehold improvements Office furniture and equipment Computers Total Cost Balance as of January 1, 2017 1,006 372 147 232 1,757 Additions during the year 244 12 24 65 345 Deductions during the year - - - (2 ) (2 ) Balance as of December 31, 2017 1,250 384 171 295 2,100 Accumulated Depreciation Balance as of January 1, 2017 140 116 18 110 384 Additions during the year: 162 125 13 72 372 Balance as of December 31, 2017 302 241 31 182 756 Depreciated cost as of December 31, 2017 948 143 140 113 1,344 Depreciated cost as of December 31, 2017 (convenience translation into U.S. dollars (Note 2d)) 274 41 40 33 388 Balance as of December 31, 2016: Laboratory equipment Leasehold improvements Vehicles Office furniture and equipment Computers Total Cost Balance as of January 1, 2016 687 244 176 36 149 1,292 Additions during the year: 319 128 - 111 83 641 Deductions during the year: - - (176 ) - - (176 ) Balance as of December 31, 2016 1,006 372 - 147 232 1,757 Accumulated Depreciation Balance as of January 1, 2016 12 - 37 8 48 105 Additions during the year: 128 116 25 10 62 341 Deductions during the year: - - (62 ) - - (62 ) Balance as of December 31, 2016 140 116 - 18 110 384 Depreciated cost as of December 31, 2016 866 256 - 129 122 1,373 |
Trade Payables
Trade Payables | 12 Months Ended |
Dec. 31, 2017 | |
Trade Payables/Other Payables [Abstract] | |
TRADE PAYABLES | NOTE 9:- TRADE PAYABLES Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Service providers 1,343 1,703 491 Notes payable 58 - - 1,401 1,703 491 |
Other Payables
Other Payables | 12 Months Ended |
Dec. 31, 2017 | |
Trade Payables/Other Payables [Abstract] | |
OTHER PAYABLES | NOTE 10:- OTHER PAYABLES Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Employees and payroll accruals *) 1,677 1,954 564 Accrued expenses 393 430 124 Other 14 12 3 2,084 2,396 691 *) Balance includes related parties (The Company's CEO and the Chairman of the Board of Directors). |
Equity
Equity | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
EQUITY | NOTE 11:- EQUITY a. Changes in share capital: Number of Shares Balance as of January 1, 2016 *) 75,994,888 Issuance of shares in private placement 5,783,437 Exercise of share options 4,000 Issuance of shares in an IPO 25,846,160 Balance as of December 31, 2016 *) 107,628,485 Issuance of shares in baby shelf offering 10,622,720 Exercise of share options 1,484,154 ADS granted (see Note 12c) 450,300 Balance as of December 31, 2017 *) 120,185,659 *) Net of 2,641,693 treasury shares of the Company, held by the Company. 1. On April 20, 2015, the Company published an offering under the shelf registration statement and prospectus dated November 25, 2014, pursuant to which the public was offered up to 4,500,000 shares and up to 4,500,000 options (Series 1), exercisable into 4,500,000 ordinary shares of the Company. The Company exercised its right for an over-allotment not to exceed 15% of the total securities offered through the offering, such that in total, the Company issued 4,523,500 ordinary shares and 4,523,500 options (Series 1) of the Company. The total gross proceeds received by the Company in respect of the securities offered to the public according to the shelf offering totaled NIS 6,604 (proceeds net of issuance costs amounted to NIS 6,292). 2. During June 2015, 341,073 unlisted options were exercised for 341,073 shares of the Company, in consideration for a total of NIS 104. 3. In February 2016, the Company completed a private placement of shares and warrants for a total of approximately NIS 8,000 and issued 5,783,437 ordinary shares as well as 1,927,801 unlisted warrants exercisable for a period of 12 months, at an exercise price of NIS 2.1 per warrant. Participants in the private placement also included related parties and an officer of the Company. On May 16, 2016 the Company’s shareholders, at a general meeting approved the participation of the controlling shareholder and Chairman of the Board, Nuriel Kasbian Chirich, in the private placement, and accordingly he was allotted 287,769 shares and 95,923 unlisted warrants of the Company on the same terms as the rest of the offerees. On January 9, 2017, the Company’s shareholders, at general meeting of the Company's shareholders approved the extension of the exercise period of the warrants until March 7, 2018. 4. On July 28, 2016 the Company completed a US initial public offering (the “IPO”) of 1,292,308 ADSs and listed warrants to purchase 969,231 ADSs (the “Listed Warrants”) at a combined price to the public of $6.50 resulting in Each Listed Warrants is exercisable into one ADS, for a period of five years at an exercise price of US$ 7.50 per warrant. Since the warrant exercise price is in US dollars, which is not the Company's functional currency, the Listed Warrants were classified as a financial liability at fair value and are marked to market through profit or loss in accordance with IAS 39. The Company granted the underwriters a 45-day over-allotment to purchase up to 193,846 additional ADSs at a price of US$ 6.038 per ADS and/or an additional Listed Warrants to purchase 145,385 ADSs, on the same terms as the warrants issued to the public, at a price of US$ 0.007 per warrant. The underwriters partially exercised the over-allotment option resulting in the issuance of 65,890 Listed Warrants. The option to the Underwriters was recognized as a share based payment transaction in accordance with IFRS 2, and was netted off the total consideration as issuance cost. Furthermore, the Company issued to the underwriters unlisted warrants to purchase 77,538 ADSs at an exercise price of $8.80 per warrant convertible at a 1:1 ratio and exercisable for a period of four years. The underwriters' unlisted warrants were classified as a share based payment transaction in accordance with IFRS 2 and netted off the total consideration as issuance cost 5. On May 9, 2017, the Company's shareholders, at a general shareholders' meeting approved the following changes in the terms of the options (Series 1): (i) extension of the expiration date options (Series 1) to a date that is 80 days from court approval for such Section 350 of the Israeli Companies Law. On May 29, 2017, the court approved the changes to the options (Series 1). 6. Between July 1, 2017, and August 16, 2017, an aggregate of 516,574 options (Series 1) were exercised. Each option (Series 1) was exercised into one ordinary share at an exercise price of NIS 1.20 per option. 7. On September 7, 2017, the Company sold to certain accredited investors an aggregate of 531,136 ADSs and 265,568 unregistered warrants to purchase 265,568 ADSs in a registered direct offering at $8.10 per ADS in which it raised gross proceeds of NIS 15,214, (NIS 13,970 net of all issuance costs, including share-based awards granted). An amount of NIS 11,695 out of the consideration related to the ADSs and classified as equity component, while an amount of NIS 2,481 related to the fair value of the warrants to purchase ADSs and was classified as a liability. Issuance costs amounting to NIS 204 associated with the issuance of the warrants, have been recognized as finance expenses. The investor warrants may be exercised for one year from issuance and have an exercise price of $12.07 per ADS, subject to adjustment as set forth therein. The investor warrants may be exercised on a cashless basis if there is no effective registration statement registering the ADSs underlying the warrants. The Company paid approximately $140 in placement agent fees and expenses and issued unregistered placement agent warrants to purchase 7,492 ADSs on the same general terms as the investor warrants except they have an exercise price of $10.125 per ADS. Since the warrant exercise price is in US dollars, which is not the Company's functional currency, the unregistered warrants to purchase ADS were classified as a financial liability at fair value and are marked to market through profit or loss in accordance with IAS 39. The placement agent warrants were classified as a share based payment transaction in accordance with IFRS 2 and netted off the total consideration as issuance cost. b. Rights related to ordinary shares All ordinary shares shall have equal rights and each ordinary share shall entitle the holder the following rights: 1. The right to receive notices of any general meeting of shareholders, to participate in meetings and vote on any matter raised in the meeting. Each ordinary share entitles its holder to one vote. 2. The right to participate in any distribution by the Company to its shareholders and receive dividends and / or bonus shares, if distributed in accordance with the Company articles of association. 3. The right to participate at the time of liquidation of the Company, in the distribution of the Company's assets permitted to be distributed in proportion to the number of shares allocated and the degree of repayment by the shareholders, if not fully paid, and subject to the provisions of the articles of association of the Company and without prejudice to existing rights of shareholders of any kind. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Share-Based Compensation [Abstract] | |
SHARE-BASED COMPENSATION | NOTE 12:- SHARE-BASED COMPENSATION a. In February 2014, the Company's board of directors adopted an Employee Shares Incentive Plan (the "2014 Plan"). Under the 2014 Plan, options may be granted to employees, officers, directors, consultants, advisers and service providers of the Company. On February 28, 2017, the board of directors approved an increase to the Company’s option pool of 4,207,971 options. As a result, the Company has a total of 12,707,971 options in the pool. b. On November 23, 2015, the Company's shareholders, at a general meeting of shareholders approved the former Deputy CEO and CFO terms of service, including a grant of options, which is an exception from the Company's compensation policy, as further described below. The terms of service included among others, a grant of 2,658,246 options, exercisable for 2,658,246 ordinary shares, no par value, of the Company at an exercise price of NIS 1.286 per share. The total benefit in respect of the grant calculated at the grant date was NIS 3,033. On March 28, 2017, 500,000 options were exercised into 500,000 ordinary shares by the Company’s former Deputy CEO and CFO. During January, 2018, 310,180 options were exercised into 310,180 ordinary shares by the Company’s former Deputy CEO and CFO. The remaining 297,420 options expired on February 28, 2018. c. Details on share-based payment for service providers: 1. On February 28, 2017, the board of directors approved the issuance to a consultant of 15,000 ADSs. The issuance was made in three equal tranches, of 5,000 ADSs each. The first tranche was issued in May 2017, the second tranche was issued in July 2017 and the third tranche was issued in November 2017. 2. On July 23, 2017, the Company issued 7,515 ADSs to a consultant. On June 28, 2017, the board of directors approved the issuance of ADSs. d. Expense recognized in the financial statements: The expense that was recognized for services received from employees, directors and service providers is as follows: Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 N I S U.S. dollars Research and development 523 253 1,940 560 General and administrative 795 1,299 3,444 993 Total share-based compensation 1,318 1,552 5,384 1,553 e. Activity during the year: The table below includes the number of share options, and the weighted average of their exercise prices: 2016 2017 Number of options Weighted Average Exercise price Number of options Weighted Average Exercise price NIS NIS Outstanding at beginning of year 5,764,866 1.37 5,979,973 1.25 Options exercised for shares - - (696,980 ) 1.16 Options forfeited (2,054,396 ) 1.43 (166,667 ) 0.63 Option Expired (337,000 ) 1.42 (726,512 ) 1.69 Granted 2,606,503 1.14 6,362,854 1.16 Outstanding at end of year 5,979,973 1.25 10,752,668 1.18 f. The following table summarizes information about the Company's outstanding and exercisable options granted to employees and consultants as of December 31, 2017: Exercise price (Range) Options outstanding as of December 31, 2017 Weighted average remaining contractual term (years) Options exercisable as of December 31, 2017 Weighted average remaining contractual term (years) 0.001 - 1.35 8,310,168 8.3 1,452,782 4.3 1.35 - 1.8 2,010,500 7.7 1,335,000 6.7 1.8 - 2.1 432,000 7.6 432,000 7.6 10,752,668 8.2 3,219,782 5.8 g. Measuring the fair value of share options settled by equity instruments: The Company shares data which is useful for measuring the fair value of the options under the Black-Scholes model, for the years ended December 31, 2016 and 2017, is as follows: 2016 2017 Dividend yield (%) 0 0 Expected volatility of the share prices (%) 84.05%-91.6% 81.56%-85.61% Risk-free interest rate (%) 1.04%-2.10% 1.94%-2.52% Expected life of share options (years) 4-10 10 According to the data above, the fair value of options granted in the years 2016-2017 was set to NIS 10, 252 at the grant date. h. The determination of the grant date fair value of options using an option pricing model (the Company utilizes the Black-Scholes model) is affected by estimates and assumptions regarding a number of complex and subjective variables. These variables include the expected volatility of the Company's share price over the expected term of the options, share option exercise and cancellation behaviors, risk-free interest rates and expected dividends, which are estimated as follows: 1. The expected share price volatility is based on the historical volatility in the trading price of the Company's ordinary shares as well as comparable companies on the TASE and on the NASDAQ and benchmarks of related companies. 2. The expected term of options granted is based upon the contractual life of the options and represents the period of time that options granted are expected to be outstanding. 3. The risk-free interest rate is based on the yield from Israeli government bonds with a term equivalent to the contractual life of the options. 4. The Company has never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero. |
Taxes on Income
Taxes on Income | 12 Months Ended |
Dec. 31, 2017 | |
Taxes on Income [Abstract] | |
TAXES ON INCOME | NOTE 13:- TAXES ON INCOME a. Corporate tax rates in Israel: The Israeli corporate income tax rate was 24% in 2017, 25% in 2016 and 26.5% in 2015. In January 2016, the Law for Amending the Income Tax Ordinance (No. 216) (Reduction of Corporate Tax Rate), 2016 was approved, which includes a reduction of the corporate tax rate from 26.5% to 25%, effective from January 1, 2016. In December 2016, the Israeli Parliament approved the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), 2016 which reduces the corporate income tax rate to 24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018. b. Final tax assessments: The Company and its subsidiary received final tax assessments through tax years 2012. c. Net operating carry forwards losses for tax purposes and other temporary differences: As of December 31, 2017, the Company had carry forward operating losses amounting to approximately NIS 35,085. The Company did not recognize deferred tax assets for carry forward operating and capital losses and other temporary differences because their utilization in the foreseeable future is not probable. |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Contingent Liabilities and Commitments [Abstract] | |
CONTINGENT LIABILITIES AND COMMITMENTS | NOTE 14:- CONTINGENT LIABILITIES AND COMMITMENTS a. Commitments 1. On September 1, 2015, the Company signed a new lease agreement for new offices. The aforementioned lease agreement is for a minimum period of 3 years from the date of signing the agreement. Under this agreement, the Company will pay a monthly rental fee plus an administration fee of NIS 34. The Company has entered into operating lease agreements for vehicles. These leases have an average life of three years with no option to extend the contract. The Company has the right to terminate the agreement before the end of the three years and will be required to pay an early termination penalty of between one to three months of the lease. The future lease payments as of December 31, 2017 are approximately NIS 183. 2. The Company participated in programs sponsored by the Israel-United States Binational Industrial Research and Development Foundation (BIRD) for the support of research and development activities. The Company is obligated to pay royalties to BIRD, amounting to 5% of the gross sales of the products and other related revenues developed from such activities, up to an amount of 150% from the grant received from BIRD by the Company indexed to the U.S. consumer price index. As of December 31, 2017, the Company received an aggregate grant of $120 from the BIRD Foundation in support of the development and commercialization of the Company's stem cell selection technology in collaboration with Entegris. Subject to the successful completion of different milestones, the Company expects to receive additional grants in the future. b. Liens: The Company provided a NIS 185 restricted bank deposit to secure credit card payments. The Company provided a NIS 120 restricted bank deposit to secure the rent payment. |
Balances and Transactions with
Balances and Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Balances and Transactions with Related Parties [Abstract] | |
BALANCES AND TRANSACTIONS WITH RELATED PARTIES | NOTE 15: - BALANCES AND TRANSACTIONS WITH RELATED PARTIES a. Related party balances Convenience translation (Note 2d) December 31 Year ended December 31, 2016 2017 2017 Key management personnel Other related parties Key management personnel Other related parties Key management personnel Other related parties NIS U.S. Dollars Other payables 318 805 425 827 123 238 318 805 425 827 123 238 b. The directors and senior managers of the Company are entitled, in addition to salary, to non-cash benefits (such as a car, medical insurance, etc.). Benefits for employment of key management personnel (including directors) employed in the Company: Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 No. of people Amount NIS No. of people Amount NIS No. of people Amount NIS Amount U.S. dollars Short-term employee benefits (includes Company's CEO in 2015, 2016 and 2017) 5 3,423 7 6,040 5 7,816 2,254 c. Benefits for employment of key management personnel (including directors) that are not employed in the Company: Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 No. of people Amount NIS No. of people Amount NIS No. of people Amount NIS Amount U.S. dollars Key management personnel and related parties 2 444 - - - - - Directors' fees 5 477 5 513 8 682 197 7 921 5 513 8 682 197 d. Transactions with related parties: Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 Key management personnel Related parties Key management personnel Related parties Key management personnel Related parties Key management personnel Related parties Research and development expenses 713 1,422 1,063 1,544 634 2,661 183 767 General and administrative expenses 921 811 2,317 1,116 2,014 2,507 581 724 1,634 2,233 3,380 2,660 2,648 5,168 764 1,491 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 16: SUBSEQUENT EVENTS On January 29, 2018, the Company sold to certain accredited investors an aggregate of 484,848 ADSs in a registered direct offering at $8.25 per ADS resulting in proceeds of approximately NIS 12,500 ($3,600) net of issuance costs. In addition, the Company issued to the investors unregistered warrants to purchase 266,667 ADSs in a private placement. The investor warrants may be exercised until February 7, 2019 and have an exercise price of $12.00 per ADS, subject to adjustment as set forth therein. The investor warrants may be exercised on a cashless basis if there is no effective registration statement registering the ADSs underlying the warrants. The Company paid approximately $305 in placement agent fees and expenses and issued unregistered placement agent warrants to purchase 24,242 ADS on the same general terms as the investor warrants except they have an exercise price of $10.31 per ADS. |
Significant Accounting Polici23
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Basis of presentation of the financial statements: | a. Basis of presentation of the financial statements: These financial statements have been prepared in accordance with IFRS as issued by the International Accounting Standards Board ("IASB"). The Company's financial statements have been prepared on a cost basis, except for marketable securities and liability related to warrants that are measured at fair value through profit or loss. The Company has elected to present profit or loss items using the "function of expense" method. The Company's operating cycle is one year. |
Consolidated financial statements: | b. Consolidated financial statements: The consolidated financial statements include the financial statements of companies that the Company controls (subsidiaries). Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity. The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases. The financial statements of the Company and its subsidiaries (the "Group") are prepared as of the same dates and periods. The consolidated financial statements are prepared using uniform accounting policies by all companies in the Group. Significant intercompany balances and transactions and gains or losses resulting from intragroup transactions are eliminated in full in the consolidated financial statements. |
Functional currency, reporting currency and foreign currency: | c. Functional currency, reporting currency and foreign currency: 1. Functional currency and reporting currency: The reporting and the functional currency of the Company is the New Israeli Shekel (“NIS”). The Company determines the functional currency of each company in the Group. The functional currency is used to measure the financial condition and results of operations of each company separately . 2. Transactions, assets and liabilities in foreign currency: Transactions denominated in foreign currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are translated on each reporting date into the functional currency at the exchange rate at that date. Exchange rate differences are recognized in profit or loss. |
Convenience translation into U.S. dollars: | d. Convenience translation into U.S. dollars: The financial statements as of December 31, 2017 and for the year then ended have been translated into U.S. dollars using the exchange rate of the U.S. dollar as of December 31, 2017 (U.S. $1.00 = NIS 3.467). The translation was made solely for convenience purposes. The dollar amounts presented in these financial statements should not be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated. |
Cash equivalents: | e. Cash equivalents: Cash equivalents are considered as highly liquid investments, including unrestricted short-term bank deposits with an original maturity of three months or less from the date of acquisition. |
Restricted cash: | f. Restricted cash: Restricted cash is primarily invested to secure credit card payments and is used as security for the Company's lease commitment. |
Taxes on income: | g. Taxes on income: Tax results with respect to current or deferred taxes are recognized in profit or loss, unless they relate to items recognized in other comprehensive income or equity. |
Current taxes | 1. Current taxes The liability for current taxes is determined using the tax rates and tax laws that were enacted, or essentially enacted, by the reporting date, as well as adjustments required in connection with the taxes payable in respect of prior years. |
Deferred taxes | 2. Deferred taxes Deferred taxes are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred tax asset is recognized to the extent that their utilization is probable. Taxes that would apply in the event of the disposal of investments in investees have not been taken into account in computing deferred taxes, as long as the disposal of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution of earnings by investees as dividends have not been taken into account in computing deferred taxes, since the distribution of dividends does not involve an additional tax liability or since it is the Company's policy not to initiate distribution of dividends from a subsidiary that would trigger an additional tax liability. Taxes on income that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to IAS 12. Deferred taxes are offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate to the same taxpayer and the same taxation authority. Deferred taxes are offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate to the same taxpayer and the same taxation authority. |
Property, plant and equipment: | h. Property, plant and equipment: Property, plant and equipment are measured at cost, including directly attributable costs, less accumulated depreciation. Depreciation is calculated on a straight-line basis over the useful life of the assets at annual rates as follows: % Computers and Electronic Equipment 33 Laboratory and clinical experiments equipment 15 Leasehold improvements (* Office furniture and equipment 7 - 15 (* The useful life, depreciation method and residual value of an asset are reviewed at least each year-end and any changes are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized. An asset is derecognized upon disposal or when no further economic benefits are expected from its use. |
Research and development expenses, net of participations: | i. Research and development expenses, net of participations: Research and development expenses are recognized in profit or loss when incurred. An intangible asset arising from a development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale; the Company's intention to complete the intangible asset and use or sell it; the Company's ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits; The availability of adequate technical, financial and other resources to complete the intangible asset; and the Company's ability to measure reliably the expenditure attributable to the intangible asset during its development. |
Government grants: | j. Government grants: Government grants received from the Israel-U.S. Binational Industrial Research and Development ("BIRD") Foundation are recognized upon receipt as a reduction in research and development expenses, as the Company evaluated that there is reasonable assurance that the Company will not be required to pay royalties, based on the best estimate of future sales using the original effective method. |
Impairment of non-financial assets: | k. Impairment of non-financial assets: The Company evaluates the need to record an impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit or loss. An impairment loss of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is recognized in profit or loss. |
Financial assets: | m. Financial assets: Financial assets within the scope of Financial Instruments: Recognition and Measurement After initial recognition, the accounting treatment of financial assets is based on their classification as follows: Financial assets at fair value through profit or loss This category includes financial assets designated upon initial recognition at fair value through profit or loss. Loans and receivables Loans and receivables are investments with fixed or determinable payments that are not quoted in an active market. After initial recognition, loans are measured based on their terms at amortized cost plus directly attributable transaction costs using the effective interest method and less any impairment losses. Short-term borrowings are measured based on their terms, normally at face value. Financial liabilities: Financial liabilities within the scope of IAS 39 are initially measured at fair value. After initial recognition, other liabilities are measured according to their terms at amortized cost using the effective interest method, taking into account directly attributable transaction costs. The warrants were classified as a financial liability at fair value measured by quoted price and are marked to market through profit or loss in accordance with IAS 39. Issue of a unit of securities: The issue of a unit of securities involves the allocation of the proceeds received (before issue expenses) to the securities issued in the unit based on the following order: financial derivatives and other financial instruments measured at fair value in each period. Then fair value is determined for financial liabilities that are measured at amortized cost. The proceeds allocated to equity instruments are determined to be the residual amount. Issue costs are allocated to each component pro rata to the amounts determined for each component in the unit. |
Fair value measurement | n. Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset's or the liability's principal market, or in the absence of a principal market, in the most advantageous market. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs All assets and liabilities measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the lowest level input that is significant to the entire fair value measurement: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 - inputs other than quoted prices included within Level 1 that are observable directly or indirectly. Level 3 - inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data). |
Treasury shares | o. Treasury shares The Company's shares held by the Company are measured at their acquisition cost and are presented as an offset against the Company's equity. Any gain or loss deriving from the purchase, sale, issuance or cancellation of treasury shares is recognized directly in equity. |
Employee benefit liabilities: | p. Employee benefit liabilities: The Group has several employee benefit plans: 1. Short-term employment benefits: Short-term employee benefits are expected to be settled in full less than 12 months after the end of the annual reporting period in which the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social security contributions and are recognized as expenses as the services are rendered. The liability for a cash bonus or profit-participating plan is recognized when the Company has a legal or constructive obligation to pay the said amount in respect of past services rendered by the employee and the amount may be reliably estimated. 2. Post-employment benefits: Post- The Company has defined contribution plans pursuant to Section 14 of the Israeli Severance Pay Law, into which the Company pays fixed contributions and has no legal or constructive obligation to pay further contributions on account of severance pay, even if the fund does not hold sufficient amounts to pay all employee benefits relating to employee service in current and prior periods. Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee's services. |
Share-based payment transactions: | q. Share-based payment transactions: From time to time the Company grants to its employees and other service providers remuneration in the form of equity-settled share-based instruments, such as options to purchase ordinary shares. Equity-settled transactions : The cost of equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value is determined using an acceptable option pricing model. As for other service providers, the cost of the transactions is measured at the fair value of the goods or services received as consideration for equity instruments. In cases where the fair value of the goods or services received as consideration of equity instruments cannot be measured, they are measured by reference to the fair value of the equity instruments granted. The cost of equity-settled transactions is recognized in profit or loss, together with a corresponding increase in equity, during the period in which the performance or service conditions are satisfied, and ending on the date on which the relevant employees become fully entitled to the award (the "Vesting Period"). No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vested irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance) are satisfied. When the Company changes the conditions of the award of equity-settled instruments, an additional expense is recognized beyond the original expense, calculated in respect of a change that increases the total fair value of the remuneration granted or benefits the other service provider according to the fair value on date of change. Cancellation of the award of equity-settled instruments is accounted for as having vested at the cancellation date and the expense not yet recognized in respect of the award is recognized immediately. However, if the cancelled grant is replaced by a new grant, and is intended as an alternate grant at the date awarded, the cancelled and new awards will both be accounted for as a change to the original award, as described above. |
Loss per share: | r. Loss per share: Loss per share is calculated by dividing the net loss attributable to Company shareholders by the weighted number of outstanding ordinary shares during the period. Potential ordinary shares are only included in the computation of diluted loss per share when their conversion increases loss per share or decreases income per share. Potential ordinary shares that are converted during the period are included in diluted loss per share only until the conversion date and from that date in basic loss per share. |
Significant Accounting Polici24
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Summary of straight-line basis over the useful life of the assets at annual rates | % Computers and Electronic Equipment 33 Laboratory and clinical experiments equipment 15 Leasehold improvements (* Office furniture and equipment 7 - 15 (* |
Other Receivables (Tables)
Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Receivables [Abstract] | |
Schedule of other receivables | Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Other receivables 51 60 17 Government authorities 611 185 54 Prepaid expenses 799 573 165 1,461 818 236 |
Property, Plant and Equipment26
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment, Net [Abstract] | |
Schedule of property, plant and equipment, net | Balance as of December 31, 2017: Laboratory equipment Leasehold improvements Office furniture and equipment Computers Total Cost Balance as of January 1, 2017 1,006 372 147 232 1,757 Additions during the year 244 12 24 65 345 Deductions during the year - - - (2 ) (2 ) Balance as of December 31, 2017 1,250 384 171 295 2,100 Accumulated Depreciation Balance as of January 1, 2017 140 116 18 110 384 Additions during the year: 162 125 13 72 372 Balance as of December 31, 2017 302 241 31 182 756 Depreciated cost as of December 31, 2017 948 143 140 113 1,344 Depreciated cost as of December 31, 2017 (convenience translation into U.S. dollars (Note 2d)) 274 41 40 33 388 Balance as of December 31, 2016: Laboratory equipment Leasehold improvements Vehicles Office furniture and equipment Computers Total Cost Balance as of January 1, 2016 687 244 176 36 149 1,292 Additions during the year: 319 128 - 111 83 641 Deductions during the year: - - (176 ) - - (176 ) Balance as of December 31, 2016 1,006 372 - 147 232 1,757 Accumulated Depreciation Balance as of January 1, 2016 12 - 37 8 48 105 Additions during the year: 128 116 25 10 62 341 Deductions during the year: - - (62 ) - - (62 ) Balance as of December 31, 2016 140 116 - 18 110 384 Depreciated cost as of December 31, 2016 866 256 - 129 122 1,373 |
Trade Payables (Tables)
Trade Payables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade Payables/Other Payables [Abstract] | |
Schedule of trade payables | Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Service providers 1,343 1,703 491 Notes payable 58 - - 1,401 1,703 491 |
Other Payables (Tables)
Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade Payables/Other Payables [Abstract] | |
Schedule of other payables | Convenience translation December 31, December 31, 2016 2017 2017 N I S U.S. dollars Employees and payroll accruals *) 1,677 1,954 564 Accrued expenses 393 430 124 Other 14 12 3 2,084 2,396 691 *) Balance includes related parties (The Company's CEO and the Chairman of the Board of Directors). |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Schedule of changes in share capital | Number of Shares Balance as of January 1, 2016 *) 75,994,888 Issuance of shares in private placement 5,783,437 Exercise of share options 4,000 Issuance of shares in an IPO 25,846,160 Balance as of December 31, 2016 *) 107,628,485 Issuance of shares in baby shelf offering 10,622,720 Exercise of share options 1,484,154 ADS granted (see Note 12c) 450,300 Balance as of December 31, 2017 *) 120,185,659 *) Net of 2,641,693 treasury shares of the Company, held by the Company. |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share-Based Compensation [Abstract] | |
Schedule of services received from employees, directors and service providers | Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 N I S U.S. dollars Research and development 523 253 1,940 560 General and administrative 795 1,299 3,444 993 Total share-based compensation 1,318 1,552 5,384 1,553 |
Schedule of number of share options and weighted average exercise prices | 2016 2017 Number of options Weighted Average Exercise price Number of options Weighted Average Exercise price NIS NIS Outstanding at beginning of year 5,764,866 1.37 5,979,973 1.25 Options exercised for shares - - (696,980 ) 1.16 Options forfeited (2,054,396 ) 1.43 (166,667 ) 0.63 Option Expired (337,000 ) 1.42 (726,512 ) 1.69 Granted 2,606,503 1.14 6,362,854 1.16 Outstanding at end of year 5,979,973 1.25 10,752,668 1.18 |
Schedule of outstanding and exercisable options granted to employees and consultants | Exercise price (Range) Options outstanding as of December 31, 2017 Weighted average remaining contractual term (years) Options exercisable as of December 31, 2017 Weighted average remaining contractual term (years) 0.001 - 1.35 8,310,168 8.3 1,452,782 4.3 1.35 - 1.8 2,010,500 7.7 1,335,000 6.7 1.8 - 2.1 432,000 7.6 432,000 7.6 10,752,668 8.2 3,219,782 5.8 |
Schedule of fair value of options under black-scholes | 2016 2017 Dividend yield (%) 0 0 Expected volatility of the share prices (%) 84.05%-91.6% 81.56%-85.61% Risk-free interest rate (%) 1.04%-2.10% 1.94%-2.52% Expected life of share options (years) 4-10 10 |
Balances and Transactions wit31
Balances and Transactions with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Balances and Transactions with Related Parties [Abstract] | |
Schedule of related party balances | Convenience translation (Note 2d) December 31 Year ended December 31, 2016 2017 2017 Key management personnel Other related parties Key management personnel Other related parties Key management personnel Other related parties NIS U.S. Dollars Other payables 318 805 425 827 123 238 318 805 425 827 123 238 |
Schedule of benefits for employment of key management personnel (including directors) employed | Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 No. of people Amount NIS No. of people Amount NIS No. of people Amount NIS Amount U.S. dollars Short-term employee benefits (includes Company's CEO in 2015, 2016 and 2017) 5 3,423 7 6,040 5 7,816 2,254 |
Schedule of benefits for employment of key management personnel (including directors) not employed | Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 No. of people Amount NIS No. of people Amount NIS No. of people Amount NIS Amount U.S. dollars Key management personnel and related parties 2 444 - - - - - Directors' fees 5 477 5 513 8 682 197 7 921 5 513 8 682 197 |
Schedule of transactions with related parties | Convenience translation (Note 2d) Year ended December 31, Year ended December 31, 2015 2016 2017 2017 Key management personnel Related parties Key management personnel Related parties Key management personnel Related parties Key management personnel Related parties Research and development expenses 713 1,422 1,063 1,544 634 2,661 183 767 General and administrative expenses 921 811 2,317 1,116 2,014 2,507 581 724 1,634 2,233 3,380 2,660 2,648 5,168 764 1,491 |
General (Details)
General (Details) ₪ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | Dec. 31, 2015ILS (₪) | Dec. 31, 2017USD ($) | |
General (Textual) | |||||
Net loss | ₪ (28,224) | $ (8,141) | ₪ (15,317) | ₪ (10,172) | |
Negative cash flows from operating activities | (17,770) | $ (5,126) | (14,412) | ₪ (7,710) | |
Accumulated deficit | ₪ (63,943) | ₪ (35,719) | $ (18,444) |
Significant Accounting Polici33
Significant Accounting Policies (Details) | 12 Months Ended | |
Dec. 31, 2017 | ||
Computers and Electronic Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, depreciation annual rates | 33 | |
Laboratory and clinical experiments equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, depreciation annual rates | 15 | |
Leasehold improvements [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, depreciation annual rates | 0 | [1] |
Office furniture and equipment [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, depreciation annual rates | 7 | |
Office furniture and equipment [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, depreciation annual rates | 15 | |
[1] | Leasehold improvements are depreciated on a straight-line basis over the earlier of the lease term or the estimated useful life of the improvement. |
Significant Accounting Polici34
Significant Accounting Policies (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies (Textual) | |
Description of translated exchange rate | The financial statements as of December 31, 2017 and for the year then ended have been translated into U.S. dollars using the exchange rate of the U.S. dollar as of December 31, 2017 (U.S. $1.00 = NIS 3.467). |
Merger with Cellect Biotherap35
Merger with Cellect Biotherapeutics Ltd. (Formerly "Cellect Biotechnology Ltd") (Details) - ₪ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Merger with Cellect Biotherapeutics Ltd. (formerly "Cellect Biotechnology Ltd") (Textual) | |||
Number of shares issued | [1] | 120,140,659 | 107,583,485 |
Par value per share | |||
Ordinary shares [Member] | |||
Merger with Cellect Biotherapeutics Ltd. (formerly "Cellect Biotechnology Ltd") (Textual) | |||
Number of shares issued | 44,887,373 | ||
Par value per share | ₪ 1 | ||
Equity interest, percentage | 85.00% | ||
Not listed for trading [Member] | |||
Merger with Cellect Biotherapeutics Ltd. (formerly "Cellect Biotechnology Ltd") (Textual) | |||
Number of options issued | 568,395 | ||
Exercise price, per option | ₪ 1 | ||
Series 1 unlisted options [Member] | |||
Merger with Cellect Biotherapeutics Ltd. (formerly "Cellect Biotechnology Ltd") (Textual) | |||
Number of options issued | 113,698 | ||
Exercise price, per option | ₪ 1 | ||
[1] | Net of 2,641,693 treasury shares of the Company, held by the Company. |
Other Receivables (Details)
Other Receivables (Details) ₪ in Thousands, $ in Thousands | Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) |
Other Receivables [Abstract] | |||
Other receivables | ₪ 60 | $ 17 | ₪ 51 |
Government authorities | 185 | 54 | 611 |
Prepaid expenses | 573 | 165 | 799 |
Total other receivables | ₪ 818 | $ 236 | ₪ 1,461 |
Property, Plant and Equipment37
Property, Plant and Equipment, Net (Details) ₪ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | ₪ 1,373 | ₪ 1,292 | |
Cost, Additions during the year | 345 | 641 | |
Cost, Deductions during the year | (2) | (176) | |
Cost, Ending Balance | 1,344 | $ 388 | 1,373 |
Accumulated Depreciation, Beginning Balance | 384 | 105 | |
Accumulated Depreciation, Additions during the year: | 372 | 341 | |
Accumulated Depreciation, Deductions during the year | (62) | ||
Accumulated Depreciation, Ending Balance | 756 | 384 | |
Depreciated cost | 1,344 | 1,373 | |
Depreciated cost (convenience translation into U.S. dollars (Note 2d)) | $ | 388 | ||
Laboratory equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | 1,006 | 687 | |
Cost, Additions during the year | 244 | 319 | |
Cost, Deductions during the year | |||
Cost, Ending Balance | 1,250 | 1,006 | |
Accumulated Depreciation, Beginning Balance | 140 | 12 | |
Accumulated Depreciation, Additions during the year: | 162 | 128 | |
Accumulated Depreciation, Deductions during the year | |||
Accumulated Depreciation, Ending Balance | 302 | 140 | |
Depreciated cost | 948 | 866 | |
Depreciated cost (convenience translation into U.S. dollars (Note 2d)) | $ | 274 | ||
Leasehold improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | 372 | 244 | |
Cost, Additions during the year | 12 | 128 | |
Cost, Deductions during the year | |||
Cost, Ending Balance | 384 | 372 | |
Accumulated Depreciation, Beginning Balance | 116 | ||
Accumulated Depreciation, Additions during the year: | 125 | 116 | |
Accumulated Depreciation, Deductions during the year | |||
Accumulated Depreciation, Ending Balance | 241 | 116 | |
Depreciated cost | 143 | 256 | |
Depreciated cost (convenience translation into U.S. dollars (Note 2d)) | $ | 41 | ||
Vehicles [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | 176 | ||
Cost, Additions during the year | |||
Cost, Deductions during the year | (176) | ||
Cost, Ending Balance | |||
Accumulated Depreciation, Beginning Balance | 37 | ||
Accumulated Depreciation, Additions during the year: | 25 | ||
Accumulated Depreciation, Deductions during the year | (62) | ||
Accumulated Depreciation, Ending Balance | |||
Depreciated cost | |||
Office furniture and equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | 147 | 36 | |
Cost, Additions during the year | 24 | 111 | |
Cost, Deductions during the year | |||
Cost, Ending Balance | 171 | 147 | |
Accumulated Depreciation, Beginning Balance | 18 | 8 | |
Accumulated Depreciation, Additions during the year: | 13 | 10 | |
Accumulated Depreciation, Deductions during the year | |||
Accumulated Depreciation, Ending Balance | 31 | 18 | |
Depreciated cost | 140 | 129 | |
Depreciated cost (convenience translation into U.S. dollars (Note 2d)) | $ | 40 | ||
Computers [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost, Beginning Balance | 232 | 149 | |
Cost, Additions during the year | 65 | 83 | |
Cost, Deductions during the year | (2) | ||
Cost, Ending Balance | 295 | 232 | |
Accumulated Depreciation, Beginning Balance | 110 | 48 | |
Accumulated Depreciation, Additions during the year: | 72 | 62 | |
Accumulated Depreciation, Deductions during the year | |||
Accumulated Depreciation, Ending Balance | 182 | 110 | |
Depreciated cost | ₪ 113 | ₪ 122 | |
Depreciated cost (convenience translation into U.S. dollars (Note 2d)) | $ | $ 33 |
Trade Payables (Details)
Trade Payables (Details) ₪ in Thousands, $ in Thousands | Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) |
Trade Payables/Other Payables [Abstract] | |||
Service providers | ₪ 1,703 | $ 491 | ₪ 1,343 |
Notes payable | 58 | ||
Trade payables, Total | ₪ 1,703 | $ 491 | ₪ 1,401 |
Other Payables (Details)
Other Payables (Details) ₪ in Thousands, $ in Thousands | Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | |
Trade Payables/Other Payables [Abstract] | ||||
Employees and payroll accruals | [1] | ₪ 1,954 | $ 564 | ₪ 1,677 |
Accrued expenses | 430 | 124 | 393 | |
Other | 12 | 3 | 14 | |
Other payables | ₪ 2,396 | $ 691 | ₪ 2,084 | |
[1] | Balance includes related parties (The Company's CEO and the Chairman of the Board of Directors). |
Equity (Details)
Equity (Details) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Number of Shares (issued and outstanding) | |||
Balance | [1] | 107,628,485 | 75,994,888 |
Issuance of shares in baby shelf offering | 10,622,720 | ||
Issuance of shares in private placement | 5,783,437 | ||
Exercise of share options | 1,484,154 | 4,000 | |
ADS granted (see Note 12c) | 450,300 | ||
Issuance of shares in an IPO | 25,846,160 | ||
Balance | [1] | 120,185,659 | 107,628,485 |
[1] | Net of 2,641,693 treasury shares of the Company, held by the Company. |
Equity (Details Textual)
Equity (Details Textual) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands | Sep. 07, 2017ILS (₪)shares | Sep. 07, 2017USD ($)$ / sharesshares | May 09, 2017 | Apr. 04, 2017shares | Jul. 28, 2016ILS (₪)Shareshares | Jul. 28, 2016ILS (₪)Share$ / shares | May 16, 2016shares | Feb. 28, 2016ILS (₪)shares | Feb. 28, 2016$ / shares | Jun. 30, 2015ILS (₪)shares | Apr. 20, 2015ILS (₪) | Aug. 16, 2017₪ / sharesshares | Dec. 31, 2017ILS (₪)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016ILS (₪) | Dec. 31, 2015ILS (₪) |
Equity (Textual) | ||||||||||||||||
Proceeds net of issuance costs | ₪ | ₪ 11,695 | ₪ 6,292 | ||||||||||||||
Net of treasury shares | 2,686,693 | 2,686,693 | ||||||||||||||
Number of ordinary shares | 1 | |||||||||||||||
Issuance of share | 516,574 | |||||||||||||||
Published offering, description | The Company published an offering under the shelf registration statement and prospectus dated November 25, 2014, pursuant to which the public was offered up to 4,500,000 shares and up to 4,500,000 options (Series 1), exercisable into 4,500,000 ordinary shares of the Company. The Company exercised its right for an over-allotment not to exceed 15% of the total securities offered through the offering, such that in total, the Company issued 4,523,500 ordinary shares and 4,523,500 options (Series 1) of the Company. | |||||||||||||||
Gross proceeds from sale of security | ₪ | ₪ 6,604 | |||||||||||||||
Options exercised | 341,073 | |||||||||||||||
Exercise of share options and warrants | ₪ | ₪ 104 | ₪ 1,432 | ₪ 7 | ₪ 104 | ||||||||||||
Private placement of shares and warrants | ₪ | ₪ 8,000 | |||||||||||||||
Unlisted warrants exercisable | 1,927,801 | |||||||||||||||
Warrants exercisable term | 12 months | |||||||||||||||
Private placement allotted shares | 287,769 | |||||||||||||||
Gross proceeds | ₪ | 15,214 | ₪ 32,107 | ||||||||||||||
Unlisted warrants | 95,923 | |||||||||||||||
Issuance costs | ₪ | 13,970 | 25,820 | ||||||||||||||
Fair value of the trade warrants | ₪ | ₪ 2,481 | 3,173 | ₪ 3,173 | |||||||||||||
Consideration | ₪ | 23,269 | |||||||||||||||
Financial expenses | ₪ 622 | ₪ (3,892) | $ (1,123) | ₪ (33) | ₪ (79) | |||||||||||
Issued ordinary shares | 5,783,437 | |||||||||||||||
Non-tradable warrants, share | 265,568 | 265,568 | ||||||||||||||
Description of options term | The terms of the options (Series 1): (i) extension of the expiration date options (Series 1) to a date that is 80 days from court approval for such of the exercise period of the options (Series 1) (i.e. August 17, 2017, following court approval), and (ii) reduction in the exercise price of the options (Series 1) from NIS 1.85 per option to NIS 1.20 per option, in accordance with Section 350 of the Israeli Companies Law. On May 29, 2017, the court approved the changes to the options (Series 1). Due to the change in terms, the fair value of the options (Series 1) changed in NIS 2,008. On August 17, 2017 the options (Series 1) expired. | |||||||||||||||
Investors, share | 531,136 | 531,136 | ||||||||||||||
Purchase of non-tradable warrants | 265,568 | 265,568 | ||||||||||||||
Direct offering | $ / shares | $ 8.10 | |||||||||||||||
Agent fees | $ | $ 140 | |||||||||||||||
Warrants to purchase | 969,231 | |||||||||||||||
Inintial public offiering of ADS shares | 1,292,308 | |||||||||||||||
Warrants exercisable, description | Each Listed Warrants is exercisable into one ADS, for a period of five years at an exercise price of US$ 7.50 per warrant. | |||||||||||||||
Unlisted options | 341,073 | |||||||||||||||
Warrant exercise price | (per share) | ₪ 6.5 | $ 2.1 | ₪ 1.20 | |||||||||||||
Over Allotment [Member] | ||||||||||||||||
Equity (Textual) | ||||||||||||||||
Warrants to purchase | 145,385 | |||||||||||||||
Inintial public offiering of ADS shares | 193,846 | |||||||||||||||
Warrants exercisable, description | ADSs at a price of US$ 6.038 per ADS and/or an additional Listed Warrants to purchase 145,385 ADSs, on the same terms as the warrants issued to the public, at a price of US$ 0.007 per warrant. | |||||||||||||||
Listed shares | 65,890 | |||||||||||||||
Underwriters arrangement [Member] | Non Tradeable Warrants [Member] | ||||||||||||||||
Equity (Textual) | ||||||||||||||||
Warrants exercisable term | 1 year | 1 year | ||||||||||||||
Issuance costs | $ | $ 204 | |||||||||||||||
Number of warrants exercisable | Share | 77,538 | 77,538 | ||||||||||||||
Non-tradable warrants, description | The Company issued to the underwriters unlisted warrants to purchase 77,538 ADSs at an exercise price of $8.80 per warrant convertible at a 1:1 ratio and exercisable for a period of four years. | |||||||||||||||
Purchase of non-tradable warrants | 7,492 | 7,492 | 61,487 | |||||||||||||
Warrants exercisable, description | The investor warrants except they have an exercise price of $10.125 per ADS. | The investor warrants except they have an exercise price of $10.125 per ADS. | ||||||||||||||
Warrant exercise price | $ / shares | $ 12.07 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | Dec. 31, 2015ILS (₪) | |
Share-Based Compensation [Abstract] | ||||
Research and development | ₪ 1,940 | $ 560 | ₪ 253 | ₪ 523 |
General and administrative | 3,444 | 993 | 1,299 | 795 |
Total share-based compensation | ₪ 5,384 | $ 1,553 | ₪ 1,552 | ₪ 1,318 |
Share-Based Compensation (Det43
Share-Based Compensation (Details 1) - ₪ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-Based Compensation [Abstract] | ||
Number of options, Outstanding at beginning of year | 5,979,973 | 5,764,866 |
Number of options, Options exercised for shares | (696,980) | |
Number of options, Options forfeited | (166,667) | (2,054,396) |
Number of options, Option Expired | (726,512) | (337,000) |
Number of options, Granted | 6,362,854 | 2,606,503 |
Number of options, Outstanding at end of year | 10,752,668 | 5,979,973 |
Weighted Average Exercise price, Outstanding at beginning of year | ₪ 1.25 | ₪ 1.37 |
Weighted Average Exercise price, Options exercised for shares | 1.16 | |
Weighted Average Exercise price, Options forfeited | 0.63 | 1.43 |
Weighted Average Exercise price, Option Expired | 1.69 | 1.42 |
Weighted Average Exercise price, Granted | 1.16 | 1.14 |
Weighted Average Exercise price, Outstanding at end of year | ₪ 1.18 | ₪ 1.25 |
Share-Based Compensation (Det44
Share-Based Compensation (Details 2) | 12 Months Ended |
Dec. 31, 2017shares | |
Share Based Compensation [Line Items] | |
Options outstanding | 10,752,668 |
Weighted average remaining contractual term (years) | 8 years 2 months 12 days |
Options exercisable | 3,219,782 |
Weighted average remaining contractual term (years) | 5 years 9 months 18 days |
0.001 - 1.35 [Member] | |
Share Based Compensation [Line Items] | |
Options outstanding | 8,310,168 |
Weighted average remaining contractual term (years) | 8 years 3 months 19 days |
Options exercisable | 1,452,782 |
Weighted average remaining contractual term (years) | 4 years 3 months 19 days |
1.35 - 1.8 [Member] | |
Share Based Compensation [Line Items] | |
Options outstanding | 2,010,500 |
Weighted average remaining contractual term (years) | 7 years 8 months 12 days |
Options exercisable | 1,335,000 |
Weighted average remaining contractual term (years) | 6 years 8 months 12 days |
1.8 - 2.1 [Member] | |
Share Based Compensation [Line Items] | |
Options outstanding | 432,000 |
Weighted average remaining contractual term (years) | 7 years 7 months 6 days |
Options exercisable | 432,000 |
Weighted average remaining contractual term (years) | 7 years 7 months 6 days |
Minimum [Member] | 0.001 - 1.35 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 0.001 |
Minimum [Member] | 1.35 - 1.8 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 1.35 |
Minimum [Member] | 1.8 - 2.1 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 1.8 |
Maximum [Member] | 0.001 - 1.35 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 1.35 |
Maximum [Member] | 1.35 - 1.8 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 1.8 |
Maximum [Member] | 1.8 - 2.1 [Member] | |
Share Based Compensation [Line Items] | |
Exercise price (Range) | 2.1 |
Share-Based Compensation (Det45
Share-Based Compensation (Details 3) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share Based Compensation [Line Items] | ||
Dividend yield (%) | 0.00% | 0.00% |
Expected life of share options (years) | 10 years | |
Minimum [Member] | ||
Share Based Compensation [Line Items] | ||
Expected volatility of the share prices (%) | 81.56% | 84.05% |
Risk-free interest rate (%) | 1.94% | 1.04% |
Expected life of share options (years) | 4 years | |
Maximum [Member] | ||
Share Based Compensation [Line Items] | ||
Expected volatility of the share prices (%) | 85.61% | 91.60% |
Risk-free interest rate (%) | 2.52% | 2.10% |
Expected life of share options (years) | 10 years |
Share-Based Compensation (Det46
Share-Based Compensation (Details Textual) ₪ / shares in Units, ₪ in Thousands | Jul. 23, 2017shares | Jul. 28, 2016$ / shares | Feb. 28, 2016$ / shares | Mar. 28, 2017shares | Feb. 28, 2017shares | Nov. 23, 2015ILS (₪)₪ / sharesshares | Aug. 16, 2017₪ / shares | Dec. 31, 2017ILS (₪)shares | Dec. 31, 2016ILS (₪) |
Share-Based Compensation (Textual) | |||||||||
Options pooled | 12,707,971 | ||||||||
Fair value of the options, grants | ₪ | ₪ 10,252 | ₪ 10,252 | |||||||
Warrant exercise price | (per share) | $ 6.5 | $ 2.1 | ₪ 1.20 | ||||||
Consultant [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Shares issued | 7,515 | 15,000 | |||||||
Consultant [Member] | Tranche one issued in May 2017 [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Shares issued | 5,000 | ||||||||
Consultant [Member] | Tranche two issued in July 2017 [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Shares issued | 5,000 | ||||||||
Consultant [Member] | Tranche three issued in November 2017 [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Shares issued | 5,000 | ||||||||
Board of Directors [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Options pooled | 4,207,971 | ||||||||
Deputy CEO and CFO [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Options exercisable | 500,000 | 2,658,246 | |||||||
Exercisable ordinary shares | 500,000 | ||||||||
Number of options granted | 2,658,246 | ||||||||
Total benefit received from grant | ₪ | ₪ 3,033 | ||||||||
Warrant exercise price | ₪ / shares | ₪ 1.286 | ||||||||
Deputy CEO and CFO [Member] | January, 2018 [Member] | |||||||||
Share-Based Compensation (Textual) | |||||||||
Options exercisable | 310,180 | ||||||||
Remaining options expired | 297,420 | ||||||||
Option expiration date | Feb. 28, 2018 | ||||||||
Exercisable ordinary shares | 310,180 |
Taxes on Income (Details)
Taxes on Income (Details) - ILS (₪) ₪ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Taxes on Income (Textual) | ||||
Israeli corporate income tax rate | 24.00% | 25.00% | 26.50% | |
Change in tax rate, description | In January 2016, the Law for Amending the Income Tax Ordinance (No. 216) (Reduction of Corporate Tax Rate), 2016 was approved, which includes a reduction of the corporate tax rate from 26.5% to 25%, effective from January 1, 2016. | The Israeli Parliament approved the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), 2016 which reduces the corporate income tax rate to 24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018. | ||
Carryforward operating losses | ₪ 35,085 |
Contingent Liabilities and Co48
Contingent Liabilities and Commitments (Details) - ILS (₪) ₪ in Thousands | Sep. 01, 2015 | Dec. 31, 2017 |
Contingent Liabilities and Commitments (Textual) | ||
Restricted bank deposit to secure the rent payment | ₪ 120 | |
Minimum lease agreement term | 3 years | |
Commitments agreement, description | Israel-United States Binational Industrial Research and Development Foundation (BIRD) for the support of research and development activities. The Company is obligated to pay royalties to BIRD, amounting to 5% of the gross sales of the products and other related revenues developed from such activities, up to an amount of 150% from the grant received from BIRD by the Company indexed to the U.S. consumer price index. | |
Future minimum monthly lease payments | ₪ 183 | |
Restricted bank deposit to secure credit card payments | 185 | |
Payment of rental and administration fee | ₪ 34 | |
Agregate grant value received | ₪ 120 |
Balances and Transactions wit49
Balances and Transactions with Related Parties (Details) ₪ in Thousands, $ in Thousands | Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) |
Disclosure of transactions between related parties [line items] | |||
Other payables | ₪ 12 | $ 3 | ₪ 14 |
Key management personnel [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Other payables | 425 | 123 | 318 |
Total | 425 | 123 | 318 |
Other related parties [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Other payables | 827 | 238 | 805 |
Total | ₪ 827 | $ 238 | ₪ 805 |
Balances and Transactions wit50
Balances and Transactions with Related Parties (Details 1) ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪)People | Dec. 31, 2017USD ($)People | Dec. 31, 2016ILS (₪)People | Dec. 31, 2015ILS (₪)People | |
Balances and Transactions with Related Parties [Abstract] | ||||
Number of people | 5 | 5 | 7 | 5 |
Short-term employee benefits (includes Company's CEO in 2015, 2016 and 2017), Amount | ₪ 7,816 | $ 2,254 | ₪ 6,040 | ₪ 3,423 |
Balances and Transactions wit51
Balances and Transactions with Related Parties (Details 2) ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪)People | Dec. 31, 2017USD ($)People | Dec. 31, 2016ILS (₪)People | Dec. 31, 2015ILS (₪)People | |
Disclosure of transactions between related parties [line items] | ||||
No. of people | 8 | 8 | 5 | 7 |
Amount | ₪ 682 | $ 197 | ₪ 513 | ₪ 921 |
Key management personnel and related parties [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
No. of people | 2 | |||
Amount | ₪ | ₪ 444 | |||
Directors' fees [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
No. of people | 8 | 8 | 5 | 5 |
Amount | ₪ 682 | $ 197 | ₪ 513 | ₪ 477 |
Balances and Transactions wit52
Balances and Transactions with Related Parties (Details 3) ₪ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016ILS (₪) | Dec. 31, 2015ILS (₪) | |
Key management personnel [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Research and development expenses | ₪ 634 | $ 183 | ₪ 1,063 | ₪ 713 |
General and administrative expenses | 2,014 | 581 | 2,317 | 921 |
Total | 2,648 | 764 | 3,380 | 1,634 |
Related parties [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Research and development expenses | 2,661 | 767 | 1,544 | 1,422 |
General and administrative expenses | 2,507 | 724 | 1,116 | 811 |
Total | ₪ 5,168 | $ 1,491 | ₪ 2,660 | ₪ 2,233 |
Subsequent Events (Details)
Subsequent Events (Details) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands | Sep. 07, 2017ILS (₪)shares | Sep. 07, 2017USD ($)shares | Jul. 28, 2016ILS (₪) | Jul. 28, 2016$ / shares | Feb. 28, 2016$ / shares | Aug. 16, 2017₪ / shares | Dec. 31, 2017ILS (₪)shares | Dec. 31, 2017USD ($)$ / sharesshares |
Subsequent Events (Textual) | ||||||||
Purchase of non-tradable warrants | 265,568 | 265,568 | ||||||
Net of issuance costs | ₪ | ₪ 13,970 | ₪ 25,820 | ||||||
Agent fees | $ | $ 140 | |||||||
Warrant exercise price | (per share) | $ 6.5 | $ 2.1 | ₪ 1.20 | |||||
January 29, 2018 [Member] | ||||||||
Subsequent Events (Textual) | ||||||||
Warrant exercise price | $ / shares | $ 10.31 | |||||||
January 29, 2018 [Member] | Investors [Member] | ||||||||
Subsequent Events (Textual) | ||||||||
Direct offering | $ / shares | $ 8.25 | |||||||
Purchase of non-tradable warrants | 24,242 | 24,242 | ||||||
Net of issuance costs | ₪ 12,500 | $ 3,600 | ||||||
Agent fees | $ | $ 305 | |||||||
Investors unregistered non-tradable warrants | 266,667 | 266,667 | ||||||
Aggregate shares | 484,848 | 484,848 | ||||||
Warrant exercise price | $ / shares | $ 12 |