STOCKHOLDERS' EQUITY

6 Months Ended

Dec. 31, 2015

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

NOTE 6: - STOCKHOLDERS' EQUITY

a. From October 2014 through May 2015, the Company issued shares of common stock in private placements to an investor. In October 2014, the Company issued 200,000 shares of common stock to an investor for aggregate cash consideration of $528. In February 2015, the Company issued an additional 200,000 shares of common stock to an investor for aggregate cash consideration of $586. In May 2015, the Company issued an additional 300,000 shares of common stock to an investor, for which the consideration in the amount of $790 was received from the investor in September 2015.

b. In February 2015, the Company's subsidiary entered into an agreement with a contractor for the construction of its new laboratories facility for a consideration of approximately NIS 3.3 million (approximately $841). Under the terms of the agreement, the Company's subsidiary will pay part of the NIS 3.3 million consideration using 100,004 restricted shares of common stock of the Company, linked to performance milestones with respect to the new laboratories construction and which serve as a guarantee.  These restricted shares shall be released to the contractor only upon the successful completion of the construction. The restricted shares were issued in December 2014.

In May 2015, the Company's subsidiary entered into an addendum to the agreement with the contractor for the design and construction of additional office space renovations in the Company's subsidiary's leased facility for additional consideration of approximately NIS 4 million (approximately $1,032) which is comprised of NIS 3 million (approximately $774) in cash and 90,000 restricted shares which will be issued to the contractor only upon the successful completion of the construction by the contractor.

The Company accounts for the abovementioned stock-based payment awards to the contractor in accordance with ASC 505-50, “Equity based payments to non-employees”. As performance by the contractor is not complete if the awards are forfeitable (or not issued) in the event performance not completed, the Company measures the fair value of the awards at each reporting period through the performance completion date (until completion of the construction work).

The construction work was initiated in June 2015. On October 30, 2015, the contractor completed the agreed construction milestones. As a result, the Company recognized the fair value of the stock-based payments awards, using the fair value of the Company's shares on October 30, 2015, totaling approximately $302 as stock-based payment to the contractor in "additional paid-in capital" with a corresponding amount included in "property and equipment, net".

c. Options, warrants and restricted stock units to employees, directors and consultants:

1. Options to employees and directors:

The Company accounts for its options to employees and directors under the fair value method in accordance with ASC 718, “Compensation—Stock Compensation”. A summary of the Company's activity for options granted to employees and directors under its 2005 incentive option plan is as follows:

	Six months ended December 31, 2015 (Unaudited)
	Number			Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms (in years)		Aggregate Intrinsic Value Price
Options outstanding at beginning of period		1,836,900		$	3.72
Options exercised		(25,000	)	$	0.62
Options outstanding at end of the period		1,811,900		$	3.77		1.62	$	451
Options exercisable at the end of the period		1,811,900		$	3.77		1.62	$	451
Options vested		1,811,900		$	3.77		1.62	$	451

Intrinsic value of exercisable options (the difference between the Company's closing stock price on the last trading day in the period and the exercise price, multiplied by the number of in-the-money options) represents the amount that would have been received by the employees and directors option holders had all option holders exercised their options on December 31, 2015. This amount changes based on the fair market value of the Company's common stock.

c. Options, warrants and restricted stock units to employees, directors and consultants (cont.):

2. Options and warrants to non-employees:

A summary of the activity for options and warrants to non-employees consultants is as follows:

	Six months ended December 31, 2015 (Unaudited)
	Number		Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms (in years)		Aggregate Intrinsic Value Price
Options and warrants outstanding at end of the period		228,000	$	5.73		2.36	$	147
Options and warrants exercisable at the end of the period		227,250	$	5.75		2.34	$	145
Options and warrants vested and expected to vest		228,000	$	5.73		2.36	$	147

Compensation expenses related to options and warrants granted to consultants were recorded as follows:

	Six months ended December 31,				Three months ended December 31,
	2015		2014		2015		2014
	(Unaudited)				(Unaudited)
Research and development expenses	$	1	$	1	$	-	$	-

c. Options, warrants and restricted stock units to employees, directors and consultants (cont.):

3. Restricted stock units to employees and directors:

The following table summarizes the activity related to unvested restricted stock units granted to employees and directors for the six month period ended December 31, 2015 (Unaudited):

	Number
Unvested at the beginning of period		1,732,383
Granted		14,270
Forfeited		(45,477	)
Vested		(776,727	)
Unvested at the end of the period		924,449
Expected to vest after  December 31, 2015		893,867

Compensation expenses related to restricted stock units granted to employees and directors were recorded as follows:

	Six months ended December 31,				Three months ended December 31,
	2015		2014		2015		2014
	(Unaudited)				(Unaudited)
Research and development expenses	$	483	$	495	$	163	$	162
General and administrative expenses		1,020		1,143		446		441
	$	1,503	$	1,638	$	609	$	603

Unamortized compensation expenses related to restricted stock units granted to employees and directors to be recognized over an average time of approximately 1.75 years is $916.

c. Options, warrants, restricted stock and restricted stock units to employees, directors and consultants (cont.):

4. Restricted stock and restricted stock units to consultants:

The following table summarizes the activity related to unvested restricted stock and restricted stock units granted to consultants for the six months ended December 31, 2015 (Unaudited):

	Number
Unvested at the beginning of period		28,385
Granted		135,387
Vested		(162,772	)
Unvested at the end of the period		1,000

Compensation expenses related to restricted stock and restricted stock units granted to consultants were recorded as follows:

	Six months ended December 31,				Three months ended December 31,
	2015		2014		2015		2014
	(Unaudited)				(Unaudited)
Research and development expenses	$	20	$	77	$	10	$	57
General and administrative expenses		48		38		45		34
	$	68	$	115	$	55	$	91