FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2017

FAIR VALUE MEASUREMENT

Schedule of financial assets and liabilities measured at fair value on recurring basis

	March 31, 2017
	Unaudited
Description	Fair value			Level 1		Level 2		Level 3
Reverse Repurchase Agreements	$	10,001		$	—	$	10,001	$	—
Warrants to purchase Ordinary Shares	$	(19,793	)	$	—	—		(19,793		)
Money Market Funds	$	3,474		3,474		$	—	—
	$	(6,318	)	$	3,474	$	10,001	$	(19,793	)

	December 31, 2016
Description	Fair value			Level 1		Level 2		Level 3
Reverse Repurchase Agreements	$	13,001		$	—	$	13,001	$	—
Warrants to purchase Ordinary Shares	(7,078		)	—		—		(7,078		)
Money Market Funds	6,455			6,455		—		—
	$	12,378		$	6,455	$	13,001	$	(7,078	)

Tabular presentation of components of liability associated with warrants to purchase Ordinary Shares

	Fair value of warrants to purchase Ordinary Shares
Balance at January 1, 2017	$	7,078
Revaluation of fair value of warrants to purchase Ordinary Shares (see Note 6)	12,715
Balance at March 31, 2017 (unaudited)	$	19,793