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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from Operating Activities      
Loss for the year $ (15,375) $ (15,439) $ (14,657)
Adjustments to reconcile loss to net cash used in operating activities: 3,880 3,578 3,184
Net cash used in operating activities (11,495) (11,861) (11,473)
Cash Flows from Investing Activities      
Changes in short term deposits 67 7,273 (337)
Investment in affiliated company (5,065)
Proceeds from sales of other investments 21
Proceeds from sales of marketable securities 68
Purchase of fixed assets (50) (103) (733)
Net cash provided by (used in) investing activities 85 7,191 (6,135)
Cash flows from Financing Activities      
Issuance of ordinary shares and warrants, net of issuance expenses 45,017 6,521 11,208
Proceeds from exercise of warrants 125
Proceeds from exercise of options 263 34
Net cash provided by financing activities 45,280 6,521 11,367
Effect of exchange rate changes on cash and cash equivalents 75 (182) (237)
Increase (decrease) in cash and cash equivalents 33,945 1,669 (6,478)
Cash and cash equivalents at the beginning of the period 4,827 3,158 9,636
Cash and cash equivalents at the end of the period 38,772 4,827 3,158
Share-based payment 1,162 1,638 2,040
Depreciation 254 259 235
Revaluation of derivative warrant liabilities 1 (2,071)
Equity in net loss of an affiliated company 2,718 839 2,905
Revaluation of other investments 324 (316)
Revaluation of marketable securities (87) (1)
Exchange rate changes on cash and cash equivalents (75) 182 237
Decrease (Increase) in other current assets 212 (142) 11
Increase (decrease) in trade payables (296) 154 14
Change in operating lease liability 60 110
Increase (decrease) in other payables (68) 213 130
Adjustments to reconcile loss to net cash used in operating activities 3,880 3,578 3,184
Accrued issuance expenses recorded in shareholders’ equity 310
Exercise of warrant of investment in affiliated company $ 4,004