Entera Bio (ENTX) 6-K20 Aug 202020 Q2 Condensed Consolidated Interim Financial StatementsFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2020
Document And Entity Information
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Entity Registrant Name	Entera Bio Ltd.
Entity Central Index Key	0001638097
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents		$ 9,767	$ 15,185
Accounts receivable			278
Other current assets		677	173
TOTAL CURRENT ASSETS		10,444	15,636
NON-CURRENT ASSETS:
Property and equipment		199	202
Right of use assets		214	260
Intangible assets		605	605
TOTAL NON-CURRENT ASSETS		1,018	1,067
TOTAL ASSETS		11,462	16,703
Accounts payable:
Trade		49	334
Other		1,336	1,370
Current maturities of lease liabilities		169	177
Warrants to purchase ordinary shares		2,350	2,444
Contract liabilities		173	267
TOTAL CURRENT LIABILITIES		4,077	4,592
NON-CURRENT LIABILITIES:
Lease liabilities		81	122
Severance pay obligations, net		75	70
TOTAL NON-CURRENT LIABILITIES		156	192
TOTAL LIABILITIES		4,233	4,784
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary Shares, NIS 0.0000769 par value: Authorized - as of June 30, 2020 and December 30, 2019, 140,010,000 shares; issued and outstanding: as of June 30, 2020, and December 31, 2019 18,234,191 and 17,864,684 shares, respectively	[1]
Accumulated other comprehensive income		41	41
Other reserves		10,468	11,398
Additional paid in capital		65,740	63,392
Accumulated deficit		(69,020)	(62,912)
TOTAL SHAREHOLDERS' EQUITY		7,229	11,919
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$ 11,462	$ 16,703

[1]	Represents an amount less than one thousand US dollars.

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (Parenthetical) - ₪ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of financial position [abstract]
Ordinary Shares, par value	₪ 0.0000769	₪ 0.0000769
Ordinary Shares, Authorized	140,010,000	140,010,000
Ordinary Shares, Issued	18,234,191	17,864,684
Ordinary Shares, Outstanding	18,234,191	17,864,684

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Profit or loss [abstract]
REVENUE	$ 52	$ 74	$ 94	$ 74
COST OF REVENUE	31	62	73	62
RESEARCH AND DEVELOPMENT EXPENSES, NET	2,011	1,413	3,616	3,448
GENERAL AND ADMINISTRATIVE EXPENSES	1,537	628	2,827	1,684
OPERATING LOSS	3,527	2,029	6,422	5,120
FINANCIAL INCOME:
Income from change in fair value of financial liabilities at fair value	(366)	(682)	(318)	(794)
Other financial expenses, net	29	19	4	35
FINANCIAL INCOME, NET	(337)	(663)	(314)	(759)
NET COMPREHENSIVE LOSS FOR THE PERIOD	$ 3,190	$ 1,366	$ 6,108	$ 4,361
LOSS PER ORDINARY SHARE:
Basic	$ 0.17	$ 0.12	$ 0.34	$ 0.38
Diluted	$ 0.17	$ 0.12	$ 0.34	$ 0.38
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic	18,234,191	11,742,797	18,142,016	11,601,289
Diluted	18,234,191	11,742,797	18,142,016	11,601,289

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Number of ordinary shares [Member]		Accumulated other comprehensive income [Member]	Other reserve [Member]	Additional paid in capital [Member]	Accumulated deficit [Member]	Total
BALANCE at Dec. 31, 2018		[1]	$ 41	$ 13,019	$ 49,173	$ (52,117)	$ 10,116
BALANCE, shares at Dec. 31, 2018	11,459,780
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period						(4,361)	(4,361)
Exercise of options to ordinary shares		[1]		(143)	169		26
Exercise of options to ordinary shares, shares	439,379
Share-based compensation				687			687
BALANCE at Jun. 30, 2019		[1]	41	13,563	49,342	(56,478)	6,468
BALANCE, shares at Jun. 30, 2019	11,899,159
BALANCE at Mar. 31, 2019		[1]	41	13,560	49,173	(55,112)	7,662
BALANCE, shares at Mar. 31, 2019	11,459,780
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period						(1,366)	(1,366)
Exercise of options to ordinary shares		[1]		(143)	169		26
Exercise of options to ordinary shares, shares	439,379
Share-based compensation				146			146
BALANCE at Jun. 30, 2019		[1]	41	13,563	49,342	(56,478)	6,468
BALANCE, shares at Jun. 30, 2019	11,899,159
BALANCE at Dec. 31, 2019		[1]	41	11,398	63,392	(62,912)	$ 11,919
BALANCE, shares at Dec. 31, 2019	17,864,684						17,864,684
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period						(6,108)	$ (6,108)
Exercise of options to ordinary shares		[1]		(35)	103		68
Exercise of options to ordinary shares, shares	31,954
Issuance of shares and warrant due to a private placement, net of issuance costs		[1]			573		573
Issuance of shares and warrant due to a private placement, net of issuance costs, shares	337,553
Expiration of options and warrants		[1]		(1,672)	1,672
Share-based compensation				777			777
BALANCE at Jun. 30, 2020		[1]	41	10,468	65,740	(69,020)	$ 7,229
BALANCE, shares at Jun. 30, 2020	18,234,191						18,234,191
BALANCE at Mar. 31, 2020		[1]	41	11,598	64,206	(65,830)	$ 10,015
BALANCE, shares at Mar. 31, 2020	18,234,191
CHANGES DURING MONTHS ENDED JUNE 30:
Net loss for the period						(3,190)	(3,190)
Expiration of warrants				(1,534)	1,534
Share-based compensation				404			404
BALANCE at Jun. 30, 2020		[1]	$ 41	$ 10,468	$ 65,740	$ (69,020)	$ 7,229
BALANCE, shares at Jun. 30, 2020	18,234,191						18,234,191

[1]	Represents an amount less than one thousand US dollars.

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENTS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS USED IN OPERATING ACTIVITIES:
Net loss for the period	$ (6,108)	$ (4,361)
Adjustments required to reflect net cash used in operating activities (see appendix A)	(74)	304
Net cash used in operating activities	(6,182)	(4,057)
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Short-term bank deposits		4,000
Purchase of property and equipment	(29)	(37)
Net cash provided by (used in) investing activities	(29)	3,963
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Proceeds from Issuance of ordinary shares and warrants, net of issuance costs	797
Proceeds from exercise of options	68	26
Principle element of lease payments	(72)	(52)
Net cash provided by (used in) financing activities	793	(26)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(5,418)	(120)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	15,185	7,506
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	9,767	7,386
Adjustments required to reflect net cash used in operating activities:
Depreciation	101	122
Change in fair value of financial liabilities at fair value through profit or loss	(318)	(794)
Financial expenses	19	58
Net changes in severance pay obligation	5	3
Share-based compensation	777	687
Total adjustments	584	76
Changes in working capital:
Decrease in accounts receivables	278	725
Increase in other current assets	(504)	(266)
Increase (decrease) in accounts payable and accruals:
Trade	(285)	21
Other	(34)	(151)
Decrease in contract liabilities	(94)	(74)
Changes in working capital	(639)	255
Cash used for operating activities -
Interest paid	(19)	(27)
Cash used for operating activities	(74)	$ 304
Supplementary information on investing and financing activities not involving cash flows:
Right of use assets obtained in exchange for new operating lease liabilities	$ 23

GENERAL INFORMATION

GENERAL INFORMATION	6 Months Ended
GENERAL INFORMATION	Jun. 30, 2020
Disclosure of general information [abstract]
GENERAL INFORMATION	NOTE 1 - GENERAL INFORMATION: a. General: 1) Entera Bio Ltd. (collectively with its subsidiary, the "Company") was incorporated on September 30, 2009 and commenced operation on June 1, 2010. On January 8, 2018 the Company incorporated Entera Bio Inc., a fully owned subsidiary incorporated in Delaware USA. The Company is a leader in the development and commercialization of orally delivered macromolecule therapeutics for use in areas with significant unmet medical need where adoption of injectable therapies is limited due to cost, convenience and compliance challenges for patients. The Company’s most advanced product candidates, EB613 for the treatment of osteoporosis and EB612 for the treatment of hypoparathyroidism, are based on its proprietary technology platform and are both in Phase 2 clinical development. The Company also licenses its technology to biopharmaceutical companies for use with their proprietary compounds and, to date, has completed one such collaboration with Amgen Inc. 2) The Company's securities have been listed for trading on the Nasdaq Capital Market since the Company’s initial public offering in July 2018, where a total of 1,400,000 new ordinary shares were issued in consideration of net proceeds of $9.6 million, after deducting offering expenses. 3) On December 10, 2018, the Company entered into a research collaboration and license agreement (the “Amgen Agreement”) with Amgen Inc. (“Amgen”) in inflammatory disease and other serious illnesses. Pursuant to the Amgen Agreement, the Company and Amgen use the Company’s proprietary drug delivery platform to develop oral formulations for one preclinical large molecule program that Amgen has selected. Amgen also has options to select up to two additional programs to include in the collaboration. Amgen is responsible for the clinical development, regulatory approval, manufacturing and worldwide commercialization of the programs. The Company granted Amgen an exclusive, worldwide, sublicensable license under certain of its intellectual property relating to its drug delivery technology to develop, manufacture and commercialize the applicable products. The Company will retain all intellectual property rights to its drug delivery technology, and Amgen will retain all rights to its large molecules and any subsequent improvements, and ownership of certain intellectual property developed through the performance of the collaboration is to be determined by U.S. patent law. b. Since the Company is engaged in research and development activities, it has not derived significant income from its activities and has incurred accumulated losses in the amount of $69 million through June 30, 2020 and negative cash flows from operating activities. The Company's management is of the opinion that its available funds as of June 30, 2020 will allow the Company to operate under its current plans into the second quarter of 2021. These factors raise substantial doubt as to the Company's ability to continue as a going concern. Management is in the process of evaluating various financing alternatives in the public or private equity markets, government grants or through license of the company's technology to additional external parties through partnerships or research collaborations. The Company will need to finance future research and development activities, general and administrative expenses and working capital through financing or external collaborations. However, there is no certainty about the Company's ability to obtain such funding. c. Approval of financial statements These financial statements were approved by the Company's Board of Directors on August 18, 2020.

BASIS OF PREPARATION

BASIS OF PREPARATION	6 Months Ended
BASIS OF PREPARATION	Jun. 30, 2020
BASIS OF PREPARATION	NOTE 2 - BASIS OF PREPARATION The Company’s condensed consolidated interim financial statements as of June 30, 2020 and for the six months then ended (the “interim financial statements”) have been prepared in accordance with International Accounting Standard No. 34, “Interim Financial Reporting” (“IAS 34”). These interim financial statements, which are unaudited, do not include all disclosures necessary for a complete presentation of financial position, comprehensive loss, changes in shareholders' equity and cash flows in conformity with generally accepted accounting principles. The condensed consolidated interim financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2019 and for the year then ended and their accompanying notes, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the entire fiscal year or for any other interim period. The accounting policies and calculation methods applied in the preparation of the interim financial statements are consistent with those applied in the preparation of the annual financial statements as of December 31, 2019 and for the year then ended.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2020
Disclosure of significant accounting policies [abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES Loss per ordinary share Basic and diluted loss per share are computed by dividing the loss for the period by the weighted average number of ordinary shares outstanding for each period. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the six months ended June 30, 2020 and 2019 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,613,633 and 5,529,645 for the six months ended June 30, 2020 and 2019 respectively. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the three months ended June 30, 2020 and 2019 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,864,992 and 5,450,825 for the three months ended June 30, 2020 and 2019 respectively.

FINANCIAL RISK FACTORS

FINANCIAL RISK FACTORS	6 Months Ended
FINANCIAL RISK FACTORS	Jun. 30, 2020
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL RISK FACTORS	NOTE 4 - FINANCIAL RISK FACTORS The Company's activities expose it to a variety of financial risks. The condensed interim financial statements do not include all financial risk information and disclosures required in the annual financial statements; they should be read in conjunction with the Company's annual financial statements as of December 31, 2019. There have been no changes in the risk management policies since the year end.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
FAIR VALUE MEASUREMENT	Jun. 30, 2020
Fair Value Measurement
FAIR VALUE MEASUREMENT	NOTE 5 - FAIR VALUE MEASUREMENT The Company measures fair value and discloses fair value measurements for financial assets. Fair value is based on the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. As of June 30, 2020, and December 31, 2019, the fair value of cash and cash equivalents, accounts receivable, other receivables and accounts payable approximates their carrying value. Financial liabilities at fair value through profit or loss Total U.S. dollars in thousands As of June 30, 2020: Trade and other payable - 1,385 1,385 Warrants to purchase ordinary shares (level 1) (1) 560 - 560 Warrants to purchase ordinary shares (level 3) (2) 1,790 - 1,790 2,350 1,385 3,735 As of December 31, 2019: Trade and other payable - 1,704 1,704 Warrants to purchase ordinary shares (level 1) (1) 266 - 266 Warrants to purchase ordinary shares (level 3) (2) 2,178 - 2,178 2,444 1,704 4,148 (1) Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2020. (2) Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation). As of June 30, 2020 the fair value of one warrant is $0.59-$0.62. The main assumptions used are as follows: June 30 2020 Price per share $1.84 Volatility 67% Expected term (years) 2.5-2.7 Risk free interest rate 0.16%-0.18% Expected dividend 0%

SHARE CAPITAL

SHARE CAPITAL	6 Months Ended
SHARE CAPITAL	Jun. 30, 2020
Disclosure of classes of share capital [abstract]
SHARE CAPITAL	NOTE 6 - SHARE CAPITAL 1. Equity: a. In January 2020, a consultant exercised 31,954 options into 31,954 ordinary shares for a total consideration of $68,000. b. On December 11, 2019 and December 18, 2019, the Company entered into subscription agreements with a select group of accredited investors, including certain board members or its affiliates for the private placement of 5,710,153 ordinary shares for aggregate subscription proceeds to the Company of $13.5 million at $2.37 price per share (the “Private Placement”). In addition, the Company granted 2,855,095 warrants, exercisable over a three-years period from the date of issuance, to purchase 2,855,095 ordinary shares at a per share exercise price of $2.96. On December 13, 2019, D.N.A Biomedical Solutions Ltd. (“DNA”), an existing shareholder of the Company, subscribed to the Private Placement (the “DNA Private Placement”) to purchase 337,553 ordinary shares for aggregate consideration of $800,000. In connection with the transaction, the Company granted DNA warrants, exercisable over a three-year period from the date of issuance, to purchase 168,776 ordinary shares at a per share exercise price of $2.96. This investment was approved by the shareholders of the Company on February 18, 2020. The 168,776 warrants issued in connection with the DNA Private Placement together with the 2,855,095 warrants issued in connection with the Private Placement are the “Investors Warrants” Prior to the exercise of the Investors Warrants the number of ordinary shares issuable upon their exercise and the exercise price are subject to customary adjustments, including in the events of reorganizations or reclassifications of the Company’s capital stock, upon payment of dividends or distributions to the Company’s shareholders, and upon any subsequent issuance of the Company’s share capital at or below a price of $2.37. In addition, the Investors Warrants have a cashless exercise mechanism. Therefore, for accounting purposes, the Investors Warrants were classified as a financial liability. c. On June 13, 2020, 687,960 warrants to purchase 687,960 ordinary shares for a purchase price of $6.99 per share in accordance with the Series B preferred share purchase agreement signed in 2016 and its following amendments have expired. Following the expiration, the Company classified $1,5 million from Other Reserves to Additional paid in Capital. 2. Options Grants The Company’s Board of Directors approved the following options grants: a. On March 16, 2020, options to purchase 201,600 ordinary shares to certain employees and 7,500 options granted to a service provider, with an exercise price of $2.14 per share. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date. The fair value of the options as of the date of the grant was $274,000. b. On March 16, 2020, options to purchase 250,000 ordinary shares to certain executive officers of the Company, with an exercise price of $2.14. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date. The grant was subject to the approval by the shareholders of the Company, which approved the grant in June 2020. The fair value of the options as of the date of the grant was $316,000 c. On April 20, 2020, options to purchase 31,502 ordinary shares to the CEO with an exercise price of $1.98 per share. The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date. The grant was subject to the approval by the shareholders of the Company, which approved the grant in June 2020. The fair value of the options as of the date of the grant was $37,000 d. On April 20 2020, the Company entered into a separate investor relations services, agreement. Under the terms of the agreement, the Company agreed to pay a monthly fees of $5,000 and to issue the consultant 28,000 Restricted Share Units (“RSU”), of which the first 7,000 shares vested on the signing date and the remaining 21,000 shares will vest in three equal installments until January 8, 2021. As of June 30, 2020, 7,000 shares were fully vested. The fair value of the RSU was $53,200 using the fair value of the shares at the grant date. $13,300 was recognized during the six months ended June 30, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2020
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	NOTE 7 - SUBSEQUENT EVENTS a. In July 2020, 340,210 warrants to purchase 340,210 ordinary shares for a purchase price of $3.69 per share in accordance with the Series A preferred share purchase agreement expired. b. On July 4, 2020, the Company established a primary registration statement under form F-3 and at-the-market equity program (the "ATM Program") that allowed the Company to issue up to $13.9 million of ordinary shares, at the Company's discretion. Distributions of the ordinary shares through the ATM Program were made pursuant to the terms of an equity distribution agreement dated July 13, 2020 among the Company, Canaccord Genuity LLC (the "Agent").

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2020
Disclosure of significant accounting policies [abstract]
Loss per ordinary share	Loss per ordinary share Basic and diluted loss per share are computed by dividing the loss for the period by the weighted average number of ordinary shares outstanding for each period. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the six months ended June 30, 2020 and 2019 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,613,633 and 5,529,645 for the six months ended June 30, 2020 and 2019 respectively. All outstanding options and warrants have been excluded from the calculation of the diluted loss per share for the three months ended June 30, 2020 and 2019 since their effect was anti-dilutive. The total number of ordinary shares which were excluded from the calculation of diluted loss per share was 7,864,992 and 5,450,825 for the three months ended June 30, 2020 and 2019 respectively.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
FAIR VALUE MEASUREMENT (Tables)	Jun. 30, 2020
Fair Value Measurement
Schedule of Fair Value of Financial Instruments	Financial liabilities at fair value through profit or loss Total U.S. dollars in thousands As of June 30, 2020: Trade and other payable - 1,385 1,385 Warrants to purchase ordinary shares (level 1) (1) 560 - 560 Warrants to purchase ordinary shares (level 3) (2) 1,790 - 1,790 2,350 1,385 3,735 As of December 31, 2019: Trade and other payable - 1,704 1,704 Warrants to purchase ordinary shares (level 1) (1) 266 - 266 Warrants to purchase ordinary shares (level 3) (2) 2,178 - 2,178 2,444 1,704 4,148 (1) Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2020. (2) Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation). As of June 30, 2020 the fair value of one warrant is $0.59-$0.62.
Schedule of Main Assumptions Used	The main assumptions used are as follows: June 30 2020 Price per share $1.84 Volatility 67% Expected term (years) 2.5-2.7 Risk free interest rate 0.16%-0.18% Expected dividend 0%

GENERAL INFORMATION (Details)

GENERAL INFORMATION (Details) - USD ($) $ in Thousands	1 Months Ended
GENERAL INFORMATION (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Jun. 30, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Accumulated losses		$ 69,020	$ 62,912
Number of shares issued		18,234,191	17,864,684
IPO [Member]
Statement Line Items [Line Items]
Number of shares issued	1,400,000
Proceeds from issuing shares	$ 9,600

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disclosure of significant accounting policies [abstract]
Number of ordinary shares excluded from calculation of diluted loss per share	7,864,992	5,450,825	7,613,633	5,529,645

FAIR VALUE MEASUREMENT (Schedul

FAIR VALUE MEASUREMENT (Schedule of Fair Value of Financial Instruments) (Details) - USD ($) $ / shares in Units, $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Trade and other payable		$ 1,385	$ 1,704
Warrants to purchase ordinary shares (level 1)	[1]	560	266
Warrants to purchase ordinary shares (level 3)	[2]	1,790	2,178
Financial liabilities		3,735	4,148
Financial liabilities at fair value through profit or loss [Member]
Disclosure of detailed information about financial instruments [line items]
Trade and other payable
Warrants to purchase ordinary shares (level 1)	[1]	560	266
Warrants to purchase ordinary shares (level 3)	[2]	1,790	2,178
Financial liabilities		2,350	2,444
Financial liabilities at amortized cost [Member]
Disclosure of detailed information about financial instruments [line items]
Trade and other payable		1,385	1,704
Warrants to purchase ordinary shares (level 1)	[1]
Warrants to purchase ordinary shares (level 3)	[2]
Financial liabilities		$ 1,385	$ 1,704
Warrant fair value price per share, minimum		$ 0.59
Warrant fair value price per share, maximum		$ 0.62

[1]	Tradable warrants presented above are valuated based on the market price (a level 1 valuation) as of June 30, 2020
[2]	Warrants to purchase ordinary shares issued in December 2019 and February 2020 presented are valuated based on the Monte-Carlo pricing model (a level 3 valuation). As of June 30, 2020 the fair value of one warrant is $0.59-$0.62.

FAIR VALUE MEASUREMENT (Sched_2

FAIR VALUE MEASUREMENT (Schedule of Main Assumptions) (Details) - Financial Instruments [Member]	6 Months Ended
	Jun. 30, 2020$ / shares
Disclosure of detailed information about financial instruments [line items]
Price per share	$ 1.84
Volatility	67.00%
Expected dividend	0.00%
Bottom of range [Member]
Disclosure of detailed information about financial instruments [line items]
Expected term (years)	2 years 6 months
Risk free interest rate	0.16%
Top of range [Member]
Disclosure of detailed information about financial instruments [line items]
Expected term (years)	2 years 8 months 12 days
Risk free interest rate	0.18%

SHARE CAPITAL (Details)

SHARE CAPITAL (Details)	Jun. 13, 2020USD ($)$ / sharesshares	Dec. 13, 2019USD ($)$ / sharesshares	Apr. 20, 2020USD ($)shares	Apr. 20, 2020USD ($)shares$ / shares	Mar. 16, 2020USD ($)shares$ / shares	Jan. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares$ / shares	Jun. 30, 2020USD ($)$ / sharesshares
Disclosure of classes of share capital [line items]
Number of shares issued							17,864,684	18,234,191
Capital stock price per share \| $ / shares								$ 2.37
Warrants [Member]
Disclosure of classes of share capital [line items]
Warrants converted into ordinary shares	687,960
Warrants granted to purchase ordinary shares	687,960
Effective price per share \| $ / shares	$ 6.99
Reclassification from other reserves to additional paid in capital \| $	$ 1,500,000
Restricted Share Units [Member]
Disclosure of classes of share capital [line items]
Options exercised			7,000					7,000
Value of options exercised \| $								$ 13,300
D.N.A. Placement [Member]
Disclosure of classes of share capital [line items]
Number of shares issued		337,553
Proceeds from private placement \| $		$ 800,000
Warrants granted to purchase ordinary shares		168,776
Exercise price \| $ / shares		$ 2.96
Options vesting description		Exercisable over a three-year period from the date of issuance
Subscription agreements with select group of accredited investors for private placement [Member]
Disclosure of classes of share capital [line items]
Number of shares issued							5,710,153
Proceeds from private placement \| $							$ 13,500,000
Share issue price per share \| $ / shares							$ 2.37
Options granted to purchase ordinary shares							2,855,095
Warrants granted to purchase ordinary shares							2,855,095
Exercise price \| $ / shares							$ 2.96
Options vesting description							Exercisable over a three-years period from the date of issuance
Consultant [Member]
Disclosure of classes of share capital [line items]
Options exercised						31,954
Number of options exrercised to ordinary shares						31,954
Value of options exercised \| $						$ 68,000
Certain Employees [Member]
Disclosure of classes of share capital [line items]
Options granted to purchase ordinary shares					201,600
Exercise price \| $ / shares					$ 2.14
Options vesting description					The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date.
Service Provider [Member]
Disclosure of classes of share capital [line items]
Options granted to purchase ordinary shares					7,500
Exercise price \| $ / shares					$ 2.14
Options vesting description					The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date.
Certain Employees and Service Provider [Member]
Disclosure of classes of share capital [line items]
Fair value of options \| $					$ 274,000
Certain Executive Officers [Member]
Disclosure of classes of share capital [line items]
Options granted to purchase ordinary shares					250,000
Exercise price \| $ / shares					$ 2.14
Options vesting description					The options vest over 4 years from the date of grant; 25%vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date.
Fair value of options \| $					$ 316,000
CEO [Member]
Disclosure of classes of share capital [line items]
Options granted to purchase ordinary shares				31,502
Exercise price \| $ / shares				$ 1.98
Options vesting description				The options vest over 4 years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% vest in twelve equal quarterly installments following the first anniversary of the applicable grant date.
Fair value of options \| $			$ 37,000	$ 37,000
Certain Service Providers [Member] \| Restricted Share Units [Member]
Disclosure of classes of share capital [line items]
Options granted to purchase ordinary shares			21,000
Options vesting description			vest in three equal installments until January 8, 2021
Fair value of options \| $								$ 53,200
Options exercised			28,000
Monthly fees for investor relations services \| $			$ 5,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 04, 2020	Jul. 31, 2020	Jul. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued				18,234,191	17,864,684
Warrants [Member]
Disclosure of non-adjusting events after reporting period [line items]
Warrants converted into ordinary shares		340,210
Warrants granted to purchase ordinary shares		340,210
Effective price per share		$ 3.69
ATM Program [Member]
Disclosure of non-adjusting events after reporting period [line items]
Proceeds from ordinary shares issued	$ 13,900		$ 218
Number of shares issued		106,806	106,806
Weighted average exercise price			$ 2.04