DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 4 – DISCONTINUED OPERATIONS

The Company accounted for the termination of the Pfizer Agreement and the sale of the license as discontinued operations, in accordance with Accounting Standards Update (ASU) No. 2014-08. The following assets and liabilities associated with the Company’s discontinued operations, have been segregated and classified as assets and liabilities of discontinued operations, as appropriate, in the consolidated balance sheets as of December 31, 2015 and September 30, 2016, respectively:

	September 30, 2016		December 31, 2015
	(U.S. dollars in thousands)
CURRENT ASSETS:
Accounts receivable - Trade	$	327	$	1,993
Inventories				80
Total current assets of discontinued operations		327		2,073
CURRENT LIABILITIES:
Accounts payable and accruals:
Other				1,568
Total current liabilities of discontinued operations				1,568

The following summarizes financial information related to the Company’s discontinued operations in the Company’s consolidated statements of operations for the three months and nine months ended September 30, 2015 and September 30, 2016:

	Nine Months Ended				Three Months Ended
	September 30, 2016		September 30, 2015		September 30, 2016	September 30, 2015
REVENUES	$	209	$	8,111		$	2,965
COMPANY’S SHARE IN COLLABORATION AGREEMENT				3,084			1,545
COST OF REVENUES		(373)		(6,055)			(2,123)
GROSS PROFIT (LOSS)		(164)		5,140			2,387
RESEARCH AND DEVELOPMENT EXPENSES				(1,302)			(192)
Less – reimbursements				283			91
RESEARCH AND DEVELOPMENT EXPENSES, NET				(1,019)			(101)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		(25)		(273)			(91)
NET INCOME (LOSS) FOR THE PERIOD FROM DISCONTINUED OPERATIONS		(189)		3,848			2,195