Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Cover Abstract | |
Entity Registrant Name | PainReform Ltd. |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Amendment Flag | false |
Entity Central Index Key | 0001801834 |
Document Period End Date | Jun. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Entity File Number | 001-39481 |
Entity Address, Address Line One | 4 Bruria |
Entity Address, City or Town | St. Tel Aviv |
Entity Address, Postal Zip Code | 6745442 |
Entity Address, Country | IL |
CONDENSED BALANCE SHEETS (UNAUD
CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 13,845 | $ 16,537 |
Restricted cash | 24 | 34 |
Prepaid clinical trial expenses and deferred clinical trial costs | 1,728 | 1,728 |
Prepaid expenses and other current assets | 337 | 721 |
Total current assets | 15,934 | 19,020 |
Property and equipment, net | 54 | 53 |
Total assets | 15,988 | 19,073 |
Current liabilities: | ||
Trade payables | 212 | 136 |
Employees and related liabilities | 284 | 423 |
Accrued expenses | 53 | 198 |
Total current liabilities | 549 | 757 |
Non-current liabilities: | ||
Provision for uncertain tax positions | 238 | 234 |
Total liabilities | 787 | 991 |
Commitments and contingencies | ||
Shareholders’ equity: | ||
Ordinary shares, NIS 0.03 par value; Authorized: 26,666,667 shares as of June 30, 2022 and December 31, 2021; Issued and outstanding: 10,634,166 and 10,482,056 shares as of June 30, 2022 and December 31, 2021, respectively. | 94 | 94 |
Additional paid-in capital | 42,351 | 41,715 |
Accumulated deficit | (27,244) | (23,727) |
Total shareholders’ equity | 15,201 | 18,082 |
Total liabilities and shareholders’ equity | $ 15,988 | $ 19,073 |
CONDENSED BALANCE SHEETS (UNA_2
CONDENSED BALANCE SHEETS (UNAUDITED) (Parentheticals) - ₪ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Ordinary shares, par value (in New Shekels per share) | ₪ 0.03 | ₪ 0.03 |
Ordinary shares, shares authorized | 26,666,667 | 26,666,667 |
Ordinary shares, shares issued | 10,634,166 | 10,482,056 |
Ordinary shares, shares outstanding | 10,634,166 | 10,482,056 |
CONDENSED STATEMENTS OF COMPREH
CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Operating expenses: | ||
Research and development expenses | $ (1,423) | $ (1,731) |
General and administrative expenses | (2,094) | (1,968) |
Operating loss | (3,517) | (3,699) |
Financial expense, net | 0 | (43) |
Net loss and comprehensive loss | $ (3,517) | $ (3,742) |
Basic net loss per share | $ (0.33) | $ (0.39) |
Diluted net loss per share | $ (0.33) | $ (0.39) |
Weighted average number of shares of ordinary share used in computing basic net loss per share | 10,634,166 | 9,562,384 |
Weighted average number of shares of ordinary share used in computing diluted net loss per share | 10,634,166 | 9,562,384 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Ordinary shares | Additional paid-in capital | Accumulated deficit | Total | ||
Balance at Dec. 31, 2020 | $ 78 | $ 33,023 | $ (16,481) | $ 16,620 | ||
Balance (in Shares) at Dec. 31, 2020 | 8,758,037 | |||||
Shares and warrants issuance - Private Investment in Public Equity ("PIPE"), net | $ 12 | 5,542 | 0 | 5,554 | ||
Shares and warrants issuance - Private Investment in Public Equity ("PIPE"), net (in Shares) | 1,304,346 | |||||
Share-based compensation to employees and directors | 367 | 0 | 367 | |||
Share-based compensation to employees and directors, (in Shares) | 0 | |||||
Share-based compensation to service providers | $ 0 | 206 | 0 | 206 | ||
Share-based compensation to service providers (in Shares) | 0 | |||||
Net loss and comprehensive loss | $ 0 | 0 | (3,742) | (3,742) | ||
Balance at Jun. 30, 2021 | $ 90 | 39,138 | (20,223) | 19,005 | ||
Balance (in Shares) at Jun. 30, 2021 | 10,062,383 | |||||
Balance at Dec. 31, 2021 | $ 94 | 41,715 | (23,727) | 18,082 | ||
Balance (in Shares) at Dec. 31, 2021 | 10,482,056 | |||||
Share-based compensation to employees and directors | 430 | 0 | 430 | |||
Share-based compensation to employees and directors, (in Shares) | 0 | |||||
Shares issuance to service providers | [1] | 0 | 0 | [1] | ||
Shares issuance to service providers (in Shares) | 152,110 | |||||
Share-based compensation to service providers | $ 0 | 206 | 0 | 206 | ||
Share-based compensation to service providers (in Shares) | 0 | |||||
Net loss and comprehensive loss | $ 0 | 0 | (3,517) | (3,517) | ||
Balance at Jun. 30, 2022 | $ 94 | $ 42,351 | $ (27,244) | $ 15,201 | ||
Balance (in Shares) at Jun. 30, 2022 | 10,634,166 | |||||
[1]Less than $1. |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (3,517) | $ (3,742) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 2 | 2 |
Share-based compensation to employees and directors | 430 | 367 |
Share-based compensation to service providers | 206 | 206 |
Change in: | ||
Other current assets | 384 | 90 |
Trade payables | 76 | (663) |
Other accounts payable | (280) | 316 |
Net cash used in operating activities | (2,699) | (3,424) |
Cash flows from investing activities | ||
Purchase of property and equipment | (3) | (16) |
Net cash used in investing activities | (3) | (16) |
Cash flows from financing activities | ||
Proceeds from issuance of ordinary shares under Private Investment in Public Equity | 0 | 6,000 |
Issuance costs | 0 | (446) |
Net cash provided by financing activities | 0 | 5,554 |
Change in cash, cash equivalents and restricted cash | (2,702) | 2,114 |
Cash, cash equivalents and restricted cash at the beginning of the year | 16,571 | 15,690 |
Cash, cash equivalents and restricted cash at the end of the period | 13,869 | 17,804 |
Non-cash investing and financing activities | ||
Cash and cash equivalents | 13,845 | 17,787 |
Restricted cash | 24 | 17 |
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | $ 13,869 | $ 17,804 |
GENERAL
GENERAL | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GENERAL | NOTE 1: GENERAL a. PainReform Ltd. (the "Company") was incorporated under the laws of the State of Israel in November 2007. The Company is a clinical stage specialty pharmaceutical company focused on the reformulation of established therapeutics. The Company’s proprietary extended release drug-delivery system is designed to provide an extended period of post-surgical pain relief without the need for repeated dose administration while reducing the potential need for the use of opiates. b. Liquidity Since its inception, the Company has devoted substantially all of its efforts to research and development, clinical trials, and capital raising activities. The Company is still in its development and clinical stage and has not yet generated revenues. The Company has incurred losses of $3,517 and $3,742 for the six months periods ended on June 30, 2022 and 2021, respectively and has negative cash outflow from operating activities, the company expect to continue to incur losses and negative cash flows from operations until its product reaches profitability. As of June 30, 2022, the Company’s accumulated deficit was $27,244. The Company has funded its operations to date primarily through equity financing, and has cash on hands as of June 30, 2022 of $13,845. Additional funding will be required to complete the Company’s research and development and clinical trials, to attain regulatory approvals, to begin the commercialization efforts of the Company’s product and to achieve a level of sales adequate to support the Company’s current and planned cost structure. The . c. In late 2019, a novel strain of COVID-19, was reported in Wuhan, China. While initially the outbreak was largely concentrated in China, it rapidly spread across the globe, including in Israel and the United States. The extent to which the COVID-19 pandemic impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, and the actions that may be required to contain the COVID-19 or treat its impact. Through August 15, 2022, the Company has not experienced a significant impact on its operations due to the COVID-19 pandemic. d. In April 2022, the Company's board of directors increased the number of reserved ordinary shares under the 2019 Plan by an additional amount of 1,000,000 ordinary shares . (Note 4b) e. In April 2022, the Company issued 152,110 shares to a consultant pursuant to an agreement signed in August 2020. Since August 2020, the company has recognized $742 ($206 for the six months ended 30 June 2022) as shares-based compensation expenses related to the shares issued to consultant. |
UNAUDITED CONDENSED FINANCIAL S
UNAUDITED CONDENSED FINANCIAL STATEMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Condensed Financial Information Disclosure [Abstract] | |
UNAUDITED CONDENSED FINANCIAL STATEMENTS | NOTE 2: UNAUDITED CONDENSED FINANCIAL STATEMENTS The unaudited condensed financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and, on the same basis as the audited financial statements included in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 (the “2021 Form 20-F”). Certain information and disclosures normally included in annual financial statements have been omitted in this interim period report pursuant to the rules and regulations of the Securities and Exchange Commission. Because the unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the audited financial statements and notes included in the 2021 Form 20-F. The year-end balance sheet data were derived from the audited financial statements as of December 31, 2021, but not all disclosures required by generally accepted accounting principles in the United States (“U.S. GAAP”) are included. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair statement of the Company’s financial position as of June 30, 2022 and its results of operations and cash flows for the six months ended June 30, 2022 and 2021 have been included. Operating results for the six months ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or any other interim period or for any other future year. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3: SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies that have been applied in the preparation of the unaudited condensed financial statements are identical to those that were applied in preparation of the Company’s most recent annual financial statements in connection with its Annual Report on Form 20-F, except for the following: - In August 2020, the FASB issued guidance ASU 2020-06 that is expected to reduce complexity and improve comparability of financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity. This guidance is effective for the Company from January 1, 2022 and did not have a material impact on the Company’s financial statements and disclosures. |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
SHAREHOLDERS’ EQUITY | NOTE 4: SHAREHOLDERS’ EQUITY a. Warrants and warrants units The following table summarizes the warrants outstanding as of June 30, 2022: Type Issuance Date Number of warrants Exercise price Exercisable through August 2019 warrants August 22, 2019 205,268 $6.72 (*) August 22, 2024 December 2019 warrants December 9, 2019 148,106 $6.72 (*) December 8, 2024 Warrants to underwriters September 3, 2020 125,000 $10.00 September 1, 2025 Warrants to underwriters October 5, 2020 375,000 $8.80 September 3, 2025 IPO warrants September 3, 2020 2,812,170 $8.80 September 3, 2025 PIPE warrants March 11, 2021 232,500 $4.60 September 10, 2026 Warrants to PIPE placement agent March 11,2021 52,173 $5.06 March 8, 2026 TOTAL 3,950,217 (*) Each warrant is exercisable into one IPO unit consisting of one share and one IPO warrant with an exercise price of $8.80. b. Share-based compensation Share options outstanding and exercisable to employees and directors under the 2008 Plan as of June 30, 2022 and December 31, 2021 were as follows: Number of Weighted Weighted Options outstanding as of December 31, 2021 153,882 $ 0.24 2.25 Options granted - - - Options exercised - - - Options forfeited - - - Options outstanding as of June 30, 2022 153,882 $ 0.24 1.75 Options exercisable as of June 30, 2022 153,882 $ 0.24 1.75 Share options outstanding and exercisable to employees and directors under the 2019 Share Option Plan (the “2019 Plan”) as of June 30, 2022 and December 31, 2021, were as follows: Number of Weighted Weighted Options outstanding as of December 31, 2021 971,476 $ 4.51 8.72 Options granted 164,455 1.06 9.79 Options exercised - - - Options forfeited - - - Options outstanding as of June 30, 2022 1,135,931 $ 4.01 8.87 Options exercisable as of June 30, 2022 490,874 $ 3.96 7.89 In April 2022, the Company’s board of directors approved the grant of options to purchase 164,455 ordinary shares of the Company to employees. The options were granted under the Company's 2019 plan. . . The grant date fair value of per options was $0.89. The following table summarizes information about share options that were granted in 2022 as part of 2019 plan as follows: 2022 Share price at grant day (USD) $ 1.22 Expected life (years) 6.12 Risk-free interest rates 2.69 % Expected volatility 79.30 % Dividend yield - Exercise price $ 1.057 Grant date fair value per option $ 0.89 |
LOSS PER SHARE
LOSS PER SHARE | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
LOSS PER SHARE | NOTE 5: LOSS PER SHARE Basic loss per share is computed by dividing the loss for the period applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. For the periods ended June 30, 2022 and 2021, all outstanding share options and warrants have been excluded from the calculation of the diluted net loss per share as all such securities are anti-dilutive for all periods presented. |
FINANCIAL EXPENSES, NET
FINANCIAL EXPENSES, NET | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure Text Block Supplement [Abstract] | |
FINANCIAL EXPENSES, NET | NOTE 6: FINANCIAL EXPENSES, NET Six months ended June 30, 2022 2021 Bank fees (7 ) (3 ) Exchange rate differences 7 (40 ) Total financial expenses, net $ - $ (43 ) |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7: COMMITMENTS AND CONTINGENCIES On November 13, 2020, the Company entered into a Master Clinical Research Organization Agreement (the "First Agreement"), and on December 3, 2020, the Company entered into a Master Clinical Trial Agreement (the "Second Agreement") both with Lotus Clinical Research as the Company's clinical research organization for the Company's planned Phase 3 trial of PRF-110, which is expected to commence in the fourth quarter of 2022. Under the First Agreement, the Company paid the first milestone of $581 on December 28, 2020 and paid additional milestone of $581 during the first nine months of 2021. In addition, the Company paid a non-refundable deposit of $710 under the Second Agreement in January 2021. As of June 30, 2022, the Company accounted for these amounts of net $1,728 as prepaid clinical trial expense and deferred clinical trial costs after recognition of $144 clinical trials expenses in 2021. |
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments [Abstract] | |
FINANCIAL INSTRUMENTS | NOTE 8: FINANCIAL INSTRUMENTS The carrying amount of cash equivalents, restricted cash, trade payables and accrued expenses approximate their fair value due to their short-term characteristics. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9: SUBSEQUENT EVENTS The Company has evaluated subsequent events occurring through August 15, 2022, the date that these financial statements were originally available to be issued, and determined that no subsequent events occurred that would require disclosure in these financial statements |
SHAREHOLDERS' EQUITY (Tables)
SHAREHOLDERS' EQUITY (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of warrants and warrants units outstanding | Type Issuance Date Number of warrants Exercise price Exercisable through August 2019 warrants August 22, 2019 205,268 $6.72 (*) August 22, 2024 December 2019 warrants December 9, 2019 148,106 $6.72 (*) December 8, 2024 Warrants to underwriters September 3, 2020 125,000 $10.00 September 1, 2025 Warrants to underwriters October 5, 2020 375,000 $8.80 September 3, 2025 IPO warrants September 3, 2020 2,812,170 $8.80 September 3, 2025 PIPE warrants March 11, 2021 232,500 $4.60 September 10, 2026 Warrants to PIPE placement agent March 11,2021 52,173 $5.06 March 8, 2026 TOTAL 3,950,217 (*) Each warrant is exercisable into one IPO unit consisting of one share and one IPO warrant with an exercise price of $8.80. |
Schedule of share options outstanding and exercisable to employees and directors | Number of Weighted Weighted Options outstanding as of December 31, 2021 153,882 $ 0.24 2.25 Options granted - - - Options exercised - - - Options forfeited - - - Options outstanding as of June 30, 2022 153,882 $ 0.24 1.75 Options exercisable as of June 30, 2022 153,882 $ 0.24 1.75 Share options outstanding and exercisable to employees and directors under the 2019 Share Option Plan (the “2019 Plan”) as of June 30, 2022 and December 31, 2021, were as follows: Number of Weighted Weighted Options outstanding as of December 31, 2021 971,476 $ 4.51 8.72 Options granted 164,455 1.06 9.79 Options exercised - - - Options forfeited - - - Options outstanding as of June 30, 2022 1,135,931 $ 4.01 8.87 Options exercisable as of June 30, 2022 490,874 $ 3.96 7.89 |
Schedule of information about share options that were granted | 2022 Share price at grant day (USD) $ 1.22 Expected life (years) 6.12 Risk-free interest rates 2.69 % Expected volatility 79.30 % Dividend yield - Exercise price $ 1.057 Grant date fair value per option $ 0.89 |
FINANCIAL EXPENSES, NET (Tables
FINANCIAL EXPENSES, NET (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of financial expenses, net | Six months ended June 30, 2022 2021 Bank fees (7 ) (3 ) Exchange rate differences 7 (40 ) Total financial expenses, net $ - $ (43 ) |
GENERAL (Detail Textuals)
GENERAL (Detail Textuals) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||||
Aug. 31, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Apr. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Nature Of Operations [Line Items] | ||||||
Net loss | $ (3,517) | $ (3,742) | ||||
Accumulated deficit | (27,244) | $ (23,727) | ||||
Cash on hands | 13,845 | 17,787 | $ 16,537 | $ 15,677 | ||
Share Based Compensation To Service Providers | $ 742 | $ 206 | $ 206 | |||
2019 Plan [Member] | ||||||
Nature Of Operations [Line Items] | ||||||
Shares, issued | 1,000,000 | |||||
Consultant [Member] | ||||||
Nature Of Operations [Line Items] | ||||||
Shares, issued | 152,110 |
SHAREHOLDERS' EQUITY - Schedule
SHAREHOLDERS' EQUITY - Schedule of warrants and warrants units outstanding (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 USD ($) $ / shares | ||
Class of Warrant or Right [Line Items] | ||
NUMBER OF WARRANTS | $ | $ 3,950,217 | |
EXERCISE PRICE | $ / shares | $ 8.8 | |
August 2019 warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Aug. 22, 2019 | |
NUMBER OF WARRANTS | $ | $ 205,268 | |
EXERCISE PRICE | $ / shares | $ 6.72 | [1] |
EXERCISABLE THROUGH | Aug. 22, 2024 | |
December 2019 warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Dec. 09, 2019 | |
NUMBER OF WARRANTS | $ | $ 148,106 | |
EXERCISE PRICE | $ / shares | $ 6.72 | [1] |
EXERCISABLE THROUGH | Dec. 08, 2024 | |
Warrants to underwriter [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Sep. 03, 2020 | |
NUMBER OF WARRANTS | $ | $ 125,000 | |
EXERCISE PRICE | $ / shares | $ 10 | |
EXERCISABLE THROUGH | Sep. 01, 2025 | |
Warrants to underwriter [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Oct. 05, 2020 | |
NUMBER OF WARRANTS | $ | $ 375,000 | |
EXERCISE PRICE | $ / shares | $ 8.8 | |
EXERCISABLE THROUGH | Sep. 03, 2025 | |
IPO warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Sep. 03, 2020 | |
NUMBER OF WARRANTS | $ | $ 2,812,170 | |
EXERCISE PRICE | $ / shares | $ 8.8 | |
EXERCISABLE THROUGH | Sep. 03, 2025 | |
PIPE warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Mar. 11, 2021 | |
NUMBER OF WARRANTS | $ | $ 232,500 | |
EXERCISE PRICE | $ / shares | $ 4.6 | |
EXERCISABLE THROUGH | Sep. 10, 2026 | |
Warrants to PIPE placement agent [Member] | ||
Class of Warrant or Right [Line Items] | ||
ISSUANCE DATE | Mar. 11, 2021 | |
NUMBER OF WARRANTS | $ | $ 52,173 | |
EXERCISE PRICE | $ / shares | $ 5.06 | |
EXERCISABLE THROUGH | Mar. 08, 2026 | |
[1]Each warrant is exercisable into one IPO unit consisting of one share and one IPO warrant with an exercise price of $8.80. |
SHAREHOLDERS' EQUITY - Schedu_2
SHAREHOLDERS' EQUITY - Schedule of share options outstanding and exercisable to employees and directors (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Apr. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
2008 Plan [Member] | |||
Schedule Of Share Options Outstanding And Exercisable To Employees And Directors [Line Items] | |||
Option outstanding at beginning, Number of options | 153,882 | ||
Option outstanding at beginning, Weighted average exercise price | $ 0.24 | ||
Option outstanding at beginning, Weighted average remaining contractual life | 1 year 9 months | 2 years 3 months | |
Granted, Number of options | 0 | ||
Granted, Weighted average exercise price | $ 0 | ||
Exercised, Number of options | 0 | ||
Exercised, Weighted average exercise price | $ 0 | ||
Forfeited, Number of options | 0 | ||
Option outstanding at ending, Number of options | 153,882 | 153,882 | |
Option outstanding at ending, Weighted average exercise price | $ 0.24 | $ 0.24 | |
Options exercisable, Number of options | 153,882 | ||
Options exercisable, Weighted average exercise price | $ 0.24 | ||
Options exercisable, Weighted average remaining contractual life | 1 year 9 months | ||
2019 Plan [Member] | |||
Schedule Of Share Options Outstanding And Exercisable To Employees And Directors [Line Items] | |||
Option outstanding at beginning, Number of options | 971,476 | ||
Option outstanding at beginning, Weighted average exercise price | $ 4.51 | ||
Option outstanding at beginning, Weighted average remaining contractual life | 8 years 10 months 13 days | 8 years 8 months 19 days | |
Granted, Number of options | 164,455 | ||
Granted, Weighted average exercise price | $ 1.06 | ||
Granted, Weighted average remaining contractual life | 9 years 9 months 14 days | ||
Exercised, Number of options | 0 | ||
Exercised, Weighted average exercise price | $ 0 | ||
Forfeited, Number of options | 0 | ||
Forfeited, Weighted average exercise price | $ 0 | ||
Option outstanding at ending, Number of options | 1,135,931 | 971,476 | |
Option outstanding at ending, Weighted average exercise price | $ 4.01 | $ 4.51 | |
Options exercisable, Number of options | 490,874 | ||
Options exercisable, Weighted average exercise price | $ 3.96 | ||
Options exercisable, Weighted average remaining contractual life | 7 years 10 months 20 days | ||
Employee Stock [Member] | 2019 Plan [Member] | |||
Schedule Of Share Options Outstanding And Exercisable To Employees And Directors [Line Items] | |||
Granted, Number of options | 164,455 | ||
Fair value of options | $ 890 |
SHAREHOLDERS' EQUITY - Schedu_3
SHAREHOLDERS' EQUITY - Schedule of information about share options that were granted (Details) | 6 Months Ended |
Jun. 30, 2022 $ / shares | |
Stockholders' Equity Note [Abstract] | |
Share price at grant day (USD) | $ 1.22 |
Expected life (years) | 6 years 1 month 13 days |
Risk-free interest rates | 2.69% |
Expected volatility | 79.30% |
Dividend yield | |
Exercise price | $ 1.057 |
Grant date fair value per option | $ 0.89 |
FINANCIAL EXPENSES, NET - Sched
FINANCIAL EXPENSES, NET - Schedule of financial expenses, net (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Schedule of financial expenses, net [Abstract] | ||
Bank fees | $ (7) | $ (3) |
Exchange rate differences | 7 | (40) |
Total financial expenses, net | $ 0 | $ (43) |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Detail Textuals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jan. 01, 2021 | Dec. 28, 2020 |
Purchase Commitment, Excluding Long-Term Commitment [Line Items] | |||||
Prepaid clinical trial expenses and deferred clinical trial costs | $ 1,728 | $ 1,728 | |||
Deferred clinical trial expense | $ 1,728 | ||||
Clinical trial expense | $ 144 | ||||
First Agreement [Member] | |||||
Purchase Commitment, Excluding Long-Term Commitment [Line Items] | |||||
Non refundable payment of clinical research and development. | $ 581 | ||||
Additional non refundable payment of clinical research and development | $ 581 | ||||
Second Agreement [Member] | |||||
Purchase Commitment, Excluding Long-Term Commitment [Line Items] | |||||
Non refundable payment of clinical research and development. | $ 710 |