STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Stockholders Equity Note Disclosure [Text Block]

NOTE 3:- STOCKHOLDERS' EQUITY

a. Issuance of stock options, warrants and restricted shares to employees and directors:

1. A summary of the Company's activity for restricted shares granted to employees and directors is as follows:

Restricted shares	Nine months ended September 30, 2015
Number of restricted shares as of December 31, 2014		24,500
Vested		(24,500)
Number of restricted shares as of September 30, 2015		-

2. A summary of the Company's activity for options and warrants granted to employees and directors is as follows:

	Nine months ended September 30, 2015
	Number of options and warrants		Weighted Average exercise price		Weighted average remaining contractual terms (years)		Aggregate intrinsic value
Outstanding at December 31, 2014		8,211,124	$	5.48		6.79	$	5,490
Granted		1,737,837		6.90
Forfeited		(32,550)		7.42
Exercised		(80,250)		3.38
Outstanding at September 30, 2015		9,836,161	$	5.75		6.65	$	23,489
Vested and expected to vest at September 30, 2015		9,624,946	$	5.74		6.61	$	23,123
Exercisable at September 30, 2015		5,790,079	$	5.53		5.33	$	16,048

Calculation of aggregate intrinsic value is based on the closing share price of the Company's common stock as reported on the NYSE MKT on September 30, 2015 ($7.82 per share).

 

As of September 30, 2015, there was $9,526 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted to employees and directors. That cost is expected to be recognized over a weighted-average period of 1.6 years.

 

b. Issuance of shares, stock options and warrants to consultants:

A summary of the Company's activity for warrants and options granted to consultants is as follows:

	Nine months ended September 30, 2015
	Number of options and warrants		Weighted average exercise price		Weighted average remaining contractual terms (years)		Aggregate intrinsic value
Outstanding at December 31, 2014		473,826	$	6.53		3.29	$	207
Exercised		(12,928)		3.41
Outstanding at September 30, 2015		460,898	$	6.62		2.62	$	839
Exercisable at September 30, 2015		424,231	$	6.71		2.34	$	758

Calculation of aggregate intrinsic value is based on the closing share price of the Company's common stock as reported on the NYSE MKT on September 30, 2015 ($7.82 per share).

As of September 30, 2015, there was $67 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted to consultants. That cost is expected to be recognized over a weighted-average period of 1.5 years.

c. Compensation expenses:

Compensation expenses related to restricted shares, warrants and options granted to employees, directors and consultants was recorded in the Consolidated Statement of Operations in the following line items:

	Nine months ended September 30,				Three months ended September 30,
	2015		2014		2015		2014
	Unaudited				Unaudited
Research and development expenses	$	1,506	$	829	$	525	$	336
General and administrative expenses		6,132		4,054		1,273		1,025
	$	7,638	$	4,883	$	1,798	$	1,361

d. Summary of shares to be issued upon exercise of options and warrants:

A summary of shares to be issued upon exercise of all the options and warrants, segregated into ranges, as of September 30, 2015 is presented in the following table:

			As of September 30, 2015
		Shares to be		Shares to be
		Issued upon		Issued upon	Weighted Average
		Exercise of		Exercise of	Remaining
	Exercise	Options and		Options and	Contractual Terms
	Price per	Warrants		Warrants	of Options and
Options / Warrants	Share ($)	Outstanding		Exercisable	Warrants (in years)
Options:
Granted to Employees and Directors
	2.66-3.14		196,000	183,000	6.2
	3.86-4.99		3,612,429	2,493,763	7.5
	5.13-7.25		3,752,927	1,141,596	8.3
	8.09-10.80		1,419,615	1,116,530	3.8
			8,980,971	4,934,889
Granted to Consultants	5.02-6.65		79,348	42,681	6.1
Total Shares to be Issued upon Exercise of Options			9,060,319	4,977,570
Warrants:
Granted to Employees	2.49		855,190	855,190	0.5
Granted to Consultants	3.76-4.99		180,077	180,077	2.1
	9.17-11.16		201,473	201,473	1.7
			381,550	381,550
Granted to Investors	4.99-6.00		2,792,699	2,792,699	0.5
	6.78-8.34		4,582,921	4,582,921	2.2
			7,375,620	7,375,620
Total Shares to be Issued upon Exercise of Warrants			8,612,360	8,612,360
Total Shares to be Issued upon Exercise of Options and Warrants			17,672,679	13,589,930