SHARE CAPITAL (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Schedule of share-based compensation awards granted for options and RSUs during the period

In the nine months ended September 30, 2020 and 2019, the Company granted options and RSU as follows:

	Nine months ended September 30, 2020
	Award amount*	Exercise price range*	Vesting period	Expiration
Employees and Directors:
Options	5,266,548	$1.46-$3.13	1 year -4 years	10 years
RSUs	2,589,710	—	1 year -4 years	—

	Nine months ended September 30, 2019
	Award amount*	Exercise price range*	Vesting period	Expiration
Employees and Directors:
Options	2,570,889	$1.31-$2.12	1 year -4 years	10 years
RSUs	766,343	—	1 year -4 years	—

* All amounts and exercise prices for pre-Merger grants are presented following the exchange to Menlo options and RSUs at the Exchange Ratio described in Note 3-Business Combination.

Summary of underlying data used for computing the fair value of the options

The fair value of options granted was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

	Nine months ended September 30
	2020		2019
Dividend yield	0	%	0	%
Expected volatility	60.44%-69.83%		59.35%-61.40%
Risk-free interest rate	0.31%-1.26%		1.42%-2.62%
Expected term	6 years		6 years

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table illustrates the effect of share-based compensation on the statements of operations:

	Three months ended September 30				Nine months ended September 30
(in thousands)	2020		2019		2020		2019
Research and development expenses	$	361	$	389	$	3,927	$	1,127
Selling, general and administrative	2,259		880		11,220		2,479
Total	$	2,620	$	1,269	$	15,147	$	3,606