0001619087 us-gaap:IPOMember 2015-03-20 2015-03-25 0001619087 2015-03-01 2015-03-01 0001619087 us-gaap:AdditionalPaidInCapitalMember 2015-03-31 0001619087 us-gaap:AccumulatedDeficitDuringDevelopmentStageMember 2015-03-31 0001619087 us-gaap:AdditionalPaidInCapitalMember 2014-12-31 0001619087 us-gaap:AccumulatedDeficitDuringDevelopmentStageMember 2014-12-31 0001619087 us-gaap:CommonStockMember 2015-03-31 0001619087 us-gaap:CommonStockMember 2014-12-31 0001619087 us-gaap:IPOMember 2015-03-25 0001619087 us-gaap:SeriesEPreferredStockMember 2015-01-24 0001619087 us-gaap:EmployeeStockOptionMember 2014-12-31 0001619087 us-gaap:EmployeeStockOptionMember stdy:TwoThousandNinePlanMember 2015-03-31 0001619087 us-gaap:EmployeeStockOptionMember stdy:TwoThousandNinePlanMember 2014-12-31 0001619087 us-gaap:EmployeeStockOptionMember stdy:TwoThousandNinePlanMember 2009-06-18 0001619087 us-gaap:EmployeeStockOptionMember stdy:TwoThousandNinePlanMember 2015-01-24 2015-01-24 0001619087 us-gaap:EmployeeStockOptionMember stdy:TwoThousandNinePlanMember 2015-01-01 2015-03-31 0001619087 us-gaap:SubsequentEventMember stdy:UnderwritersOverallotmentOptionExerciseMember 2015-04-22 2015-04-22 0001619087 stdy:RadBiomedLtdMember 2005-01-01 2006-12-31 0001619087 us-gaap:IPOMember 2015-03-25 2015-03-25 0001619087 us-gaap:AccumulatedDeficitDuringDevelopmentStageMember 2015-01-01 2015-03-31 0001619087 us-gaap:SubsidiariesMember country:US 2013-09-30 2013-09-30 0001619087 country:IL 2012-07-01 2012-07-01 0001619087 us-gaap:EmployeeStockOptionMember 2015-03-31 0001619087 2015-03-19 0001619087 stdy:CommercialBankMember us-gaap:SeriesDPreferredStockMember 2013-02-20 0001619087 2014-03-31 0001619087 2013-12-31 0001619087 us-gaap:SellingAndMarketingExpenseMember 2015-01-01 2015-03-31 0001619087 us-gaap:ResearchAndDevelopmentExpenseMember 2015-01-01 2015-03-31 0001619087 us-gaap:GeneralAndAdministrativeExpenseMember 2015-01-01 2015-03-31 0001619087 us-gaap:GeneralAndAdministrativeExpenseMember 2014-01-01 2014-03-31 0001619087 2015-03-31 0001619087 2014-12-31 0001619087 stdy:CommercialBankMember us-gaap:SeriesDPreferredStockMember 2013-02-20 2013-02-20 0001619087 2015-03-25 2015-03-25 0001619087 us-gaap:CommonStockMember 2015-01-01 2015-03-31 0001619087 us-gaap:AdditionalPaidInCapitalMember 2015-01-01 2015-03-31 0001619087 us-gaap:EmployeeStockOptionMember 2015-01-01 2015-03-31 0001619087 us-gaap:EmployeeStockOptionMember 2014-01-01 2014-12-31 0001619087 us-gaap:EmployeeStockOptionMember 2014-07-07 2014-07-07 0001619087 stdy:RadBiomedLtdMember 2015-01-01 2015-03-31 0001619087 stdy:OfficeOfChiefScientistMember 2015-01-01 2015-03-31 0001619087 stdy:OfficeOfChiefScientistMember us-gaap:MinimumMember 2015-01-01 2015-03-31 0001619087 stdy:OfficeOfChiefScientistMember us-gaap:MaximumMember 2015-01-01 2015-03-31 0001619087 2015-01-01 2015-03-19 0001619087 2014-01-01 2014-03-31 0001619087 stdy:LoanAgreementMember 2013-02-20 2013-02-20 0001619087 us-gaap:SeriesEPreferredStockMember 2015-01-24 2015-01-24 0001619087 stdy:OfficeOfChiefScientistMember 2014-12-31 0001619087 stdy:OfficeOfChiefScientistMember 2014-01-01 2014-12-31 0001619087 stdy:OfficeOfChiefScientistMember 2013-01-01 2013-12-31 0001619087 2015-04-30 0001619087 2015-01-01 2015-03-31 iso4217:ILS xbrli:shares iso4217:USD stdy:item iso4217:USD xbrli:shares stdy:product xbrli:pure stdy:installment iso4217:USD xbrli:shares false --12-31 Q1 2015 2015-03-31 10-Q 0001619087 13415703 No Smaller Reporting Company SteadyMed Ltd. 0 0 367000 47075000 87000 1445966 32 -40000 29000 26000 1.25 401746 1463000 2 700929 0.90 0.05 0.03 13584000 1.00 6.00 6.00 3.00 3.00 3.61 44000 2500 49000 5945000 5943000 2000 697443 697443 10191 10191 3486 3486 295697 405232 P10Y 7332 <div> <div style="margin-left:0pt;margin-right:0pt;">   NOTE 5:- WARRANTS TO PURCHASE CONVERTIBLE PREFERRED SHARES   The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level to classify them for each reporting period. There have been no transfers between fair value measurements levels during the three months ended March 31, 2015.   The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:   Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.   Level 2: Observable inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.   Level 3: Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.   The Company accounts for such warrants (each of which include weighted average anti-dilution protection) as a liability according to the provisions of ASC 815-40, “Derivatives and Hedging - Contracts in Entity’s Own Equity”. The Company measures the warrants at fair value by using Monte Carlo Cliquent Option Pricing Model in each reporting period until the warrants are exercised or expired, with changes in the fair values being recognized in the Company’s statement of comprehensive loss as financial income or expense, net.   The changes in Level 3 liabilities associated with warrants to purchase Convertible Preferred Shares are measured at fair value on a recurring basis. The following tabular presentation reflects the components of the liability associated with such warrants as of March 31, 2015 (unaudited):   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:35.3pt;"> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;"> Balance at December 31, 2014 </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.52%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,072 </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Revaluation of fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.64%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;"> Classification to Equity upon conversion of warrants *) </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,945 </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Classification to Equity upon automatic conversion into warrants to purchase Ordinary Shares **) </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(87 </td> <td valign="bottom" style="width:02.64%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Balance at March 31, 2015 (unaudited) </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> </table></div>   *)As of December 31, 2014, there were 711,120 outstanding warrants exercisable into Convertible Preferred Shares. Prior to the IPO, all but 10,191 warrants were exercised into Ordinary Shares. Of the exercised warrants, 295,697 were exercised for cash, and 405,232 were exercised on a cashless basis, resulting in the net exercise of 401,746 warrants (and 3,486 warrants were cancelled). Upon the closing of the IPO, the 10,191 warrants outstanding were automatically converted into warrants to purchase Ordinary Shares.   **)Classification of 10,191 warrants to purchase Convertible Preferred Shares converted into 10,191 warrants to purchase Ordinary Shares. </div> </div>

1793000

2588000

208000

260000

1991000

1977000

<div> <div style="margin-left:0pt;margin-right:0pt;">   NOTE 8:- SELECTED STATEMENTS OF COMPREHENSIVE LOSS   a.Financial income, net:   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:29.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Three months ended March 31, </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> Interest expense and bank fees </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.20%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;"> Revaluation of fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.80%;"> ) </td> <td colspan="2" valign="bottom" style="width:13.50%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(113 </td> <td valign="bottom" style="width:01.06%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> Foreign currency translation adjustments </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(103 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;"> ) </td> </tr> </table></div>   b.The loss and the weighted average number of shares used in computing basic and diluted net loss per share is as follows:   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:29.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Three months ended March 31, </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Numerator: </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;"> Net loss </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,556  </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,797  </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Dividends accumulated for the period (*) </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>988  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>587  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Net loss available to shareholders of Ordinary shares </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,544  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,384  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Denominator: </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Weighted average number of Ordinary Shares used in computing basic and diluted net loss per share </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,503,708  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>501,828  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     (*)The net loss used for the computation of basic and diluted net loss per share include the compounded dividend of eight percent per annum which shall be distributed to shareholders in case of distributable assets determined in the applicable article of association under the liquidation preference right prior to the closing of the IPO event as mentioned in Note 1c.   Convertible securities such as warrants to purchase Series Preferred A2, D, E1 Shares, Series Preferred A1, A2, B, C, D, E Shares and options to grantees under the Amended and Restated 2009 Stock Incentive Plan, have not been taken into account due to their anti-dilutive effect. </div> </div>

2008000

90105000

91000

87000

2000

91000

63000

24000

4000

3000

10326000

51857000

7344000

50026000

99000

105000

101000

184000

2072000

12708000

6167000

48893000

6.14

711120

10191

0.01

30689077

50000000

502224

13415703

502224

13415703

1000

34000

5945000

0.05

three-year constant maturity treasury rate

0.0525

46000

31000

85000

P3Y3M15D

1281000

-113000

-40000

-3000

89000

363000

905000

-2752000

-5433000

-6.74

-4.35

1000

182000

45000

123000

469000

-184000

-179000

831000

302000

132000

60000

10000

P6M

P36M

P17M

10978000

5604000

10326000

51857000

4347000

5128000

563000

219000

82000

219000

222000

10636000

42726000

13443000

47660000

77000

-28000

-2884000

-4906000

-2797000

-5556000

-3384000

-6544000

81000

103000

-2833000

-5536000

1463000

5163000

5200000

6000

93000

204000

132000

134000

0.08

151000

283000

1500000

280000

40000000

1308000

11406000

176000

145000

1374000

1680000

141000

2251000

4409000

1026000

850000

-38330000

-43886000

36250000

<div> <div style="margin-left:0pt;margin-right:0pt;">   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:29.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Three months ended March 31, </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> Interest expense and bank fees </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.20%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;"> Revaluation of fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.80%;"> ) </td> <td colspan="2" valign="bottom" style="width:13.50%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(113 </td> <td valign="bottom" style="width:01.06%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> Foreign currency translation adjustments </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.50%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(103 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;"> ) </td> </tr> </table></div>   </div> </div>

<div> <div style="margin-left:0pt;margin-right:0pt;">   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:35.3pt;"> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;"> Balance at December 31, 2014 </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.52%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,072 </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Revaluation of fair value of warrants to purchase Convertible Preferred Shares </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.64%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;"> Classification to Equity upon conversion of warrants *) </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,945 </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Classification to Equity upon automatic conversion into warrants to purchase Ordinary Shares **) </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(87 </td> <td valign="bottom" style="width:02.64%;"> ) </td> </tr> <tr> <td valign="bottom" style="width:81.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.82%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.64%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:81.86%;padding:0pt;"> Balance at March 31, 2015 (unaudited) </td> <td valign="bottom" style="width:02.68%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:02.64%;padding:0pt;">   </td> </tr> </table></div>   *)As of December 31, 2014, there were 711,120 outstanding warrants exercisable into Convertible Preferred Shares. Prior to the IPO, all but 10,191 warrants were exercised into Ordinary Shares. Of the exercised warrants, 295,697 were exercised for cash, and 405,232 were exercised on a cashless basis, resulting in the net exercise of 401,746 warrants (and 3,486 warrants were cancelled). Upon the closing of the IPO, the 10,191 warrants outstanding were automatically converted into warrants to purchase Ordinary Shares.   **)Classification of 10,191 warrants to purchase Convertible Preferred Shares converted into 10,191 warrants to purchase Ordinary Shares. </div> </div>

<div> <div style="margin-left:0pt;margin-right:0pt;"> <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;"> Number of </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Weighted average exercise price </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Weighted average remaining contractual life </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Aggregate intrinsic value </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> options </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (years) </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options outstanding at January 1, 2015 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>919,744 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.54 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.67 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,183 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Options granted during quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>248,798 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.84 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options exercised during quarter </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(51,716 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.86 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Options outstanding at end of quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,116,826 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.06 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.72 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,880 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options vested and expected to be vested at end of quarter </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,089,656 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.81 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.76 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,806 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Exercisable at end of quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>404,884 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.47 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.74 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,005 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> </table></div>   </div> </div>

<div> <div style="margin-left:0pt;margin-right:0pt;">   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:29.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Three months ended March 31, </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Numerator: </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;"> Net loss </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,556  </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,797  </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Dividends accumulated for the period (*) </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>988  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>587  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Net loss available to shareholders of Ordinary shares </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,544  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:11.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,384  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Denominator: </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.46%;background-color: #CCEEFF;padding:0pt;"> Weighted average number of Ordinary Shares used in computing basic and diluted net loss per share </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,503,708  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>501,828  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     (*)The net loss used for the computation of basic and diluted net loss per share include the compounded dividend of eight percent per annum which shall be distributed to shareholders in case of distributable assets determined in the applicable article of association under the liquidation preference right prior to the closing of the IPO event as mentioned in Note 1c. </div> </div>

2000

-4000

2000

91000

P3Y

P7Y

1072879

55971

978655

882597

248798

2.86

2183000

4880000

919744

1116826

3.54

4.06

P5Y8M1D

P5Y8M19D

2005000

404884

5.47

P4Y8M27D

4806000

1089656

4.81

P5Y9M4D

2.86

5.84

<div> <div style="margin-left:0pt;margin-right:0pt;">   NOTE 7:- SHAREHOLDERS’ EQUITY (DEFICIT)   a.On March 1, 2015, the Company affected a 7.75 for 1 forward split of its Ordinary Shares, by way of issuance and distribution of bonus shares without a change in nominal value of the Company’s outstanding Ordinary Shares.   For accounting purposes, this transaction was recorded as a share split and accordingly, all Shares, warrants to purchase Convertible Preferred Shares, options to purchase Ordinary Shares and loss per share amounts have been adjusted to give retroactive effect to this Share Split for all periods presented in these consolidated financial statements. Any fractional shares resulting from the Share Split will be rounded up to the nearest whole share.   b.On January 24, 2015, the Company signed an addendum to the Series E Preferred Share purchase agreement to raise additional funds of $11,406, net of fees and expenses. Under the addendum, the Company issued 1,445,966 Series E Convertible Preferred Shares to its existing and new investors for a price of $8.49 per share.   c.As described in Note 1c, on March 19, 2015, the Company completed its IPO by raising gross consideration of $40 million for issuance of 4,700,000 Ordinary Shares for a price of $8.50 per share. The issuance costs in respect of the IPO transaction amounted to $5.2 million.   d.Stock based compensation:   On June 18, 2009, a Stock Option Plan (the “2009 Plan”) was adopted by the Board of Directors of the Company, under which options to purchase up to 55,971 Ordinary Shares have been reserved. Such pool was increased over the years and as of December 31, 2014, options to purchase up to 978,655 Ordinary Shares were authorized. The 2009 Plan was adopted in accordance with the amended sections 102 and 3(i) of Israel’s Income Tax Ordinance. Under the 2009 Plan, options to purchase Ordinary Shares of the Company may be granted to employees, advisors, directors, consultants and service providers of the Company or any subsidiary or affiliate. The default vesting schedule is up to three years, subject to the continuation of employment or service. Each option may be exercised into Ordinary Shares during a period of seven years from the date of grant, unless a different term is provided in the option agreement. On April 30, 2013, the 2013 Stock Incentive Sub Plan (the “2013 Sub Plan”) was adopted by the Board of Directors of the Company, which set forth the terms for the grant of stock awards to Inc.’s employees or US non employees. On January 25, 2015, the Board of Directors reserved an additional 1,072,879 Ordinary Shares out of its authorized and unissued share capital for future option grants under the 2009 Plan. On January 24, 2015, the Company’s Board of Directors approved grants to employees of 248,798 options to purchase ordinary shares at an exercise price of $5.84 per share. At March 31, 2015, the Company has 882,597 Ordinary Shares available for future grant under the 2009 Plan.   On February 20, 2015, the Board of Directors approved the replacement of the 2009 Plan and 2013 Sub Plan by adopting the Amended and Restated 2009 Stock Incentive Plan. This action was approved the shareholders on March 1, 2015.   Transactions related to the grant of options to employees under the Amended and Restated 2009 Stock Incentive Plan during the three months ended March 31, 2015 (unaudited), were as follows:   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;"> Number of </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Weighted average exercise price </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Weighted average remaining contractual life </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Aggregate intrinsic value </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> options </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (years) </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options outstanding at January 1, 2015 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>919,744 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.54 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.67 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,183 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Options granted during quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>248,798 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.84 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options exercised during quarter </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(51,716 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.86 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Options outstanding at end of quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,116,826 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.06 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.72 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,880 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;background-color: #CCEEFF;padding:0pt;"> Options vested and expected to be vested at end of quarter </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,089,656 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.81 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.76 </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,806 </td> <td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:34.06%;padding:0pt;"> Exercisable at end of quarter </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>404,884 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.47 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.74 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td valign="bottom" style="width:13.42%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,005 </td> <td valign="bottom" style="width:01.06%;padding:0pt;">   </td> </tr> </table></div>   The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the deemed fair value of the Company’s ordinary shares on the last day of the quarter ending March 31, 2015 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on March 31, 2015. This amount is impacted by the changes in the fair market value of the Company’s shares.   The weighted average grant date fair value of options granted during the three months ended March 31, 201.5 was $2.86   As of March 31, 2015, the total unrecognized estimated compensation cost related to non-vested stock options granted prior to that date was $1,281, which is expected to be recognized over a weighted average period of approximately 3.29 years.   On July 7, 2014, the Company’s Board of Directors approved to reduce the exercise price of all outstanding options which were previously granted to certain employees at an exercise price which exceeded $3.61 per share down to $3.61 per share, representing the underlying fair value of the Ordinary Share at that date. The Company accounted for the reduction of the options’ exercise price pursuant to ASC 718 as a modification. Accordingly, additional compensation of $49 was calculated as the fair value of the modified award in excess of the fair value of the original award measured immediately before its terms have been modified based on current circumstances and recorded incremental fair value as an immediate or future expense based on the vesting schedule of the relevant options. During the year ended December 31, 2014, the Company recorded out of the aforementioned amount compensation cost of $44 as result of the above modification. During the three months ended March 31, 2015, the Company recorded additional $ 2.5 as result of the above modification.   The total compensation cost related to all of the Company’s equity-based awards, recognized during the three months ended March 31, 2015 and 2014 (unaudited) was comprised as follows:   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 89.00%;margin-left:56.9pt;"> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:29.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Three months ended March 31, </td> <td valign="bottom" style="width:01.04%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.04%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> Research and development </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.22%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;"> Marketing </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4  </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.52%;padding:0pt;"> — </td> <td valign="bottom" style="width:01.04%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;"> General and administrative </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2  </td> <td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:13.52%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.04%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:66.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>91  </td> <td valign="bottom" style="width:02.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2  </td> <td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div> </div>

8.49

8.50

502224

13415703

-36321000

-38330000

2007000

2000

46253000

-43886000

90105000

34000

7.75

7464320

4700000

165452

51716

47075000

47057000

18000

34787000

34775000

12000

34787000

145000

35669000

587000

988000

46694

0.01

8060923

5895657

6072000

501828

1503708