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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	May 31, 2020	Jul. 07, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Entity Central Index Key	0001176309
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Document Type	10-Q
Document Period End Date	May 31, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		23,526,812
Entity File Number	000-50298
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 9,313	$ 3,329
Short-term deposits	23,185	25,252
Marketable securities	8,335	3,701
Prepaid expenses and other current assets	470	1,042
Total current assets	41,303	33,324
LONG-TERM ASSETS:
Long-term deposits	2	1
Marketable securities	4,722	1,295
Amounts funded in respect of employee rights upon retirement	17	19
Property and equipment, net	22	24
Operating lease right of use assets	89
Total long-term assets	4,852	1,339
Total assets	46,155	34,663
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,350	2,541
Deferred revenues	2,703	2,703
Payable to related parties	50	64
Operating lease liabilities	32
Total current liabilities	4,135	5,308
LONG-TERM LIABILITIES:
Deferred revenues	7,629	9,658
Employee rights upon retirement	17	22
Provision for uncertain tax position	11	11
Operating lease liabilities	57
Other liabilities	194	271
Total long-term liabilities	7,908	9,962
STOCKHOLDERS' EQUITY:
Common stock, $0.012 par value (30,000,000 authorized shares; 23,277,039 and 17,383,359 shares issued and outstanding as of May 31, 2020 and August 31, 2019, respectively)	279	208
Additional paid-in capital	123,451	100,288
Accumulated deficit	(89,618)	(81,103)
Total stockholders' equity	34,112	19,393
Total liabilities and stockholders' equity	$ 46,155	$ 34,663

Condensed Consolidated Statements of Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019
Income Statement [Abstract]
REVENUES	$ 681	$ 682	$ 2,029	$ 2,022
COST OF REVENUES				90
RESEARCH AND DEVELOPMENT EXPENSES	1,925	3,861	7,267	11,322
GENERAL AND ADMINISTRATIVE EXPENSES	1,030	899	3,502	2,896
OPERATING LOSS	2,274	4,078	8,740	12,286
FINANCIAL INCOME	200	263	569	822
FINANCIAL EXPENSES	8	14	21	41
LOSS FROM CHANGES IN FAIR VALUE OF INVESTMENTS	202	243	323	270
LOSS BEFORE TAXES ON INCOME	2,284	4,072	8,515	11,775
TAXES ON INCOME				300
NET LOSS FOR THE PERIOD	$ 2,284	$ 4,072	$ 8,515	$ 12,075
LOSS PER SHARE OF COMMON STOCK:
BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK	$ 0.1	$ 0.23	$ 0.44	$ 0.69
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK	23,215,205	17,456,683	19,496,205	17,453,185

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands

Common Stock

Additional paid-in capital

Accumulated other comprehensive income

Accumulated deficit

Total

BALANCE at Aug. 31, 2018

$ 207

$ 99,426

$ 702

$ (69,223)

$ 31,112

BALANCE, shares at Aug. 31, 2018

17,369

INITIAL ADOPTION OF ASC 606

1,773

INITIAL ADOPTION OF ASU 2016-01

(702)

702

CHANGES DURING THE THREE/NINE MONTH PERIOD ENDED

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, shares

STOCK-BASED COMPENSATION

693

STOCK-BASED COMPENSATION, shares

NET LOSS

(12,075)

12,075

BALANCE at May. 31, 2019

$ 207

100,173

(78,823)

21,557

BALANCE, shares at May. 31, 2019

17,382

BALANCE at Feb. 28, 2019

$ 207

99,892

(74,751)

25,348

BALANCE, shares at Feb. 28, 2019

17,380

CHANGES DURING THE THREE/NINE MONTH PERIOD ENDED

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, shares

STOCK-BASED COMPENSATION

271

STOCK-BASED COMPENSATION, shares

NET LOSS

(4,072)

4,072

BALANCE at May. 31, 2019

$ 207

100,173

(78,823)

21,557

BALANCE, shares at May. 31, 2019

17,382

BALANCE at Aug. 31, 2019

$ 208

100,288

(81,103)

19,393

BALANCE, shares at Aug. 31, 2019

17,383

CHANGES DURING THE THREE/NINE MONTH PERIOD ENDED

ISSUANCE OF COMMON STOCK AND WARRANTS, NET

$ 70

22,225

22,295

ISSUANCE OF COMMON STOCK AND WARRANTS, NET, shares

5,871

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, shares

EXERCISE OF WARRANTS AND OPTIONS

$ 1

EXERCISE OF WARRANTS AND OPTIONS, shares

STOCK-BASED COMPENSATION

888

STOCK-BASED COMPENSATION, shares

NET LOSS

(8,515)

8,515

BALANCE at May. 31, 2020

$ 279

123,451

(89,618)

34,112

BALANCE, shares at May. 31, 2020

23,276

BALANCE at Feb. 29, 2020

$ 214

103,210

(87,334)

16,090

BALANCE, shares at Feb. 29, 2020

17,844

CHANGES DURING THE THREE/NINE MONTH PERIOD ENDED

ISSUANCE OF COMMON STOCK AND WARRANTS, NET

$ 65

19,914

19,979

ISSUANCE OF COMMON STOCK AND WARRANTS, NET, shares

5,430

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, shares

EXERCISE OF WARRANTS AND OPTIONS

EXERCISE OF WARRANTS AND OPTIONS, shares

STOCK-BASED COMPENSATION

319

STOCK-BASED COMPENSATION, shares

NET LOSS

(2,284)

2,284

BALANCE at May. 31, 2020

$ 279

$ 123,451

$ (89,618)

$ 34,112

BALANCE, shares at May. 31, 2020

23,276

[1]	Represents an amount of less than $1.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2020	May 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (8,515)	$ (12,075)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	5	4
Exchange differences and interest on deposits and held to maturity bonds	23	(161)
Changes in fair value of investments	323	270
Stock-based compensation	888	693
Shares issued for services	38	54
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	572	180
Accounts payable, accrued expenses and related parties	(1,205)	409
Deferred revenues	(2,029)	978
Liability for employee rights upon retirement	(5)	1
Other liabilities	(77)	(25)
Total net cash used in operating activities	(9,982)	(9,672)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term deposits	(6,000)	(2,900)
Purchase of mutual funds	(3,211)
Purchase of long-term deposits		(4,237)
Purchase of held to maturity securities	(7,408)	(747)
Proceeds from sale of short-term deposits	7,986	14,321
Proceeds from maturity of held to maturity securities	2,300	2,200
Funds in respect of employee rights upon retirement	(1)	(1)
Purchase of property and equipment	(3)	(14)
Total net cash provided by investing activities	(6,337)	8,622
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs	22,295
Proceeds from exercise of options	13
Total net cash provided by financing activities	22,308
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(5)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,984	(1,050)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	3,329	4,996
CASH AND CASH EQUIVALENTS AT END OF PERIOD	9,313	3,946
SUPPLEMENTARY DISCLOSURE ON CASH FLOWS -
Interest received	$ 710	$ 626

Significant Accounting Policies

9 Months Ended

May 31, 2020

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES:

General:

Incorporation and operations

Oramed Pharmaceuticals Inc. (collectively with its subsidiary, the "Company," unless the context indicates otherwise) was incorporated on April 12, 2002, under the laws of the State of Nevada. From incorporation until March 3, 2006, the Company was an exploration stage company engaged in the acquisition and exploration of mineral properties. On February 17, 2006, the Company entered into an agreement with Hadasit Medical Services and Development Ltd. to acquire the provisional patent related to an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes.

On May 14, 2007, the Company incorporated a wholly-owned subsidiary in Israel, Oramed Ltd. (the "Subsidiary"), which is engaged in research and development.

On March 11, 2011, the Company was reincorporated from the State of Nevada to the State of Delaware.

On July 30, 2019, the Subsidiary incorporated a wholly-owned subsidiary in Hong Kong, Oramed HK Limited. As of May 31, 2020, Oramed HK Limited has no operations.

On November 30, 2015, the Company entered into a Technology License Agreement with Hefei Tianhui Incubator of Technologies Co. Ltd. ("HTIT") and on December 21, 2015, the parties entered into an Amended and Restated Technology License Agreement that was further amended by the parties on June 3, 2016 and July 24, 2016 (the "License Agreement"). According to the License Agreement, the Company granted HTIT an exclusive commercialization license in the territory of the People's Republic of China, Macau and Hong Kong (the "Territory"), related to the Company's oral insulin capsule, ORMD-0801 (the "Product"). Pursuant to the License Agreement, HTIT will conduct, at its own expense, certain pre-commercialization and regulatory activities with respect to the Subsidiary's technology and ORMD-0801 capsule, and will pay to the Subsidiary (i) royalties of 10% on net sales of the related commercialized products to be sold by HTIT in the Territory ("Royalties"), and (ii) an aggregate of $37,500, of which $3,000 was payable immediately, $8,000 will be paid subject to the Company entering into certain agreements with certain third parties, and $26,500 will be paid upon achievement of certain milestones and conditions. In the event that the Company does not meet certain conditions, the Royalties rate may be reduced to a minimum of 8%. Following the final expiration of the Company's patents covering the technology in the Territory in 2033, the Royalties rate may be reduced, under certain circumstances, to 5%.

The royalty payment obligation shall apply during the period of time beginning upon the first commercial sale of the Product in the Territory, and ending upon the later of (i) the expiration of the last-to-expire licensed patents in the Territory; and (ii) 15 years after the first commercial sale of the Product in the Territory (the "Royalty Term").

The License Agreement shall remain in effect until the expiration of the Royalty Term. The License Agreement contains customary termination provisions.

Among others, the Company's involvement through the product submission date will include consultancy for the pre-commercialization activities in the Territory, as well as advisory services to HTIT on an ongoing basis.

As of May 31, 2020, the Company has received milestone payments in an aggregate amount of $20,500 as follows: the initial payment of $3,000 was received in January 2016. Following the achievement of certain milestones, the second and third payments of $6,500 and $4,000, respectively, were received in July 2016, the fourth milestone payment of $4,000 was received in October 2016 and the fifth milestone payment of $3,000 was received in January 2019.

In addition, on November 30, 2015, the Company entered into a Stock Purchase Agreement with HTIT (the "SPA"). According to the SPA, the Company issued 1,155,367 shares of common stock to HTIT for $12,000. The transaction closed on December 28, 2015.

In July 2015, according to the letter of intent signed between the parties or their affiliates, HTIT's affiliate paid the Subsidiary a non-refundable amount of $500 as a no-shop fee. The no-shop fee was deferred and the related revenue is recognized over the estimated term of the License Agreement.

For revenue recognition policy see note 1c.

Development and liquidity risks

The Company is engaged in research and development in the biotechnology field for innovative pharmaceutical solutions, including an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes, and the use of orally ingestible capsules for delivery of other polypeptides, and has not generated significant revenues from its operations. Based on the Company's current cash resources and commitments, the Company believes it will be able to maintain its current planned development activities and the corresponding level of expenditures for at least the next 12 months, although no assurance can be given that the Company will not need additional funds prior to such time. If there are unexpected increases in its operating expenses, the Company may need to seek additional financing during the next 12 months. Successful completion of the Company's development programs and its transition to normal operations is dependent upon obtaining necessary regulatory approvals from the U.S. Food and Drug Administration prior to selling its products within the United States, obtaining foreign regulatory approvals to sell its products internationally, or entering into licensing agreements with third parties. There can be no assurance that the Company will receive regulatory approval of any of its product candidates, and a substantial amount of time may pass before the Company achieves a level of revenues adequate to support its operations, if at all. The Company also expects to incur substantial expenditures in connection with the regulatory approval process for each of its product candidates during their respective developmental periods. Obtaining marketing approval will be directly dependent on the Company's ability to implement the necessary regulatory steps required to obtain marketing approval in the United States and in other countries. The Company cannot predict the outcome of these activities. In addition to the foregoing, based on the Company's current assessment, the Company does not expect any material impact on its development timeline and its liquidity due to the worldwide spread of the COVID-19 virus. However, the Company is continuing to assess the effect on its operation by monitoring the spread of COVID-19 and the actions implemented by the governments to combat the virus throughout the world.

Loss per common share

Basic and diluted net loss per common share are computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding for each period. Outstanding stock options, warrants and restricted stock units ("RSUs") have been excluded from the calculation of the diluted loss per share because all such securities are anti-dilutive for all periods presented. The weighted average number of common stock options, warrants and RSUs excluded from the calculation of diluted net loss was 4,940,900 and 4,386,209 for the nine month periods ended May 31, 2020 and May 31, 2019, respectively, and 5,194,275 and 4,568,811 for the three month periods ended May 31, 2020 and May 31, 2019, respectively.

Revenue recognition

The License Agreement and the SPA were considered a single arrangement with multiple deliverables. The Company allocated the total consideration of $49,500 between the License Agreement and the SPA according to their fair value, as follows: $10,617 was allocated to the issuance of common stock (less issuance expenses of $23), based on the quoted price of the Company's shares on the closing date of the SPA on December 28, 2015, and $38,883 was allocated to the License Agreement.

Under Accounting Standards Codification ("ASC") 605 (which was the authoritative revenue recognition guidance applied for all periods prior to September 1, 2018) given the Company's continuing involvement through the expected product submission in June 2023, amounts received relating to the License Agreement were recognized over the period from which the Company was entitled to the respective payment, and the expected product submission date using a time-based model approach over the periods that the fees were earned.

On September 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-09 "Revenue from Contracts with Customers (Topic 606)" ("ASC 606"), using the modified retrospective method of adoption. Under this method, the Company applied ASC 606 to the License Agreement at the adoption date and was required to make an adjustment to the September 1, 2018 opening accumulated deficit balance and all prior periods continue to be presented under ASC 605. The most significant impact from adopting ASC 606 was the impact of the timing of recognition of revenue associated with the milestone payment. Under ASC 605 (which was the authoritative revenue recognition guidance applied for all periods prior to September 1, 2018) given the Company's continuing involvement through the expected product submission in June 2023, amounts received relating to the License Agreement were recognized over the period from which the Company was entitled to the respective payment, and the expected product submission date using a time-based model approach over the periods that the fees were earned. However, under ASC 606, the Company is required to recognize the total transaction price (which includes consideration related to milestones once the criteria for recognition have been satisfied) using the input method over the period the performance obligation is fulfilled. Accordingly, once the consideration associated with a milestone is included in the transaction price, incremental revenue is recognized immediately based on the period of time that has elapsed towards complete satisfaction of the performance obligation. This method results in the recognition of revenue earlier than under ASC 605 and the resulting impact was recorded as a reduction of the opening balance of accumulated deficit at September 1, 2018 as further described below.

Under ASC 606, the Company identified a single performance obligation in the agreement and determined that the license and services are not distinct as the license and services are highly dependent on each other. In other words, HTIT cannot benefit from the license without the related services, and vice versa.

Since the customer benefits from the services as the entity performs, revenue is recognized over time through the expected product submission date in June 2023, using the input method. The Company used the input method to measure the process for the purpose of recognizing revenue, which approximates the straight line attribution. The Company used significant judgment when it determined the product submission date.

Under ASC 606, the consideration that the Company would be entitled to upon the achievement of contractual milestones, which are contingent upon the occurrence of future events, are a form of variable consideration. When assessing the portion, if any, of such milestones-related consideration to be included in the transaction price, the Company first assesses the most likely outcome for each milestone and excludes the consideration related to milestones of which the occurrence is not considered the most likely outcome.

The Company then evaluates if any of the variable consideration determined in the first step is constrained by including in the transaction price variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The Company used significant judgment when it determined the first step of variable consideration.

The potential future royalty consideration is also considered a form of variable consideration under ASC 606 as it is based on a percentage of potential future sales of the Company's products. However, the Company applies the sales-based royalty exception and accordingly will recognize the sales-based royalty amounts when the related sale has occurred. To date, the Company has not recognized any royalty-related revenue.

Amounts that were allocated to the License Agreement as of May 31, 2020 aggregated $22,382, all of which were received through the balance sheet date. Through May 31, 2020, the Company has recognized revenue associated with this agreement in the aggregate amount of $12,051 (of which $681 was recognized in the quarter ended May 31, 2020), and deferred the remaining amount of $10,331 which is presented as deferred revenues on the condensed consolidated balance sheet.

Financial instruments

In January 2016, the Financial Accounting Standards Board ("FASB") issued guidance which updates certain aspects of recognition, measurement, presentation and disclosure of financial assets and financial liabilities ("ASU 2016-01"). The guidance requires entities to recognize changes in fair value in net income rather than in accumulated other comprehensive income. The Company adopted the provisions of this update in the first quarter of fiscal year 2019. Following the adoption, as of September 1, 2018, the Company classified the available for sale securities to financial assets measured in fair value through profit or loss and no longer presents comprehensive income.

Condensed Consolidated Financial Statements Preparation

The condensed consolidated financial statements included herein have been prepared in accordance with United States generally accepted accounting principles ("U.S. GAAP") and, except as described in note 1f, on the same basis as the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2019 (the "2019 Form 10-K"). These condensed consolidated financial statements reflect all adjustments that are of a normal recurring nature and that are considered necessary for a fair statement of the results of the periods presented. Certain information and disclosures normally included in annual consolidated financial statements have been omitted in this interim period report pursuant to the rules and regulations of the Securities and Exchange Commission. Because the condensed consolidated interim financial statements do not include all of the information and disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in the 2019 Form 10-K. The results for interim periods are not necessarily indicative of a full fiscal year's results.

Recently adopted standards

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)", which supersedes the existing guidance for lease accounting, Leases (Topic 840). The new standard requires a lessee to record assets and liabilities on its balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the lessee's income statement. The Company adopted this standard as of September 1, 2019 on a modified retrospective basis and will not restate comparative periods. The Company elected the package of practical expedients permitted under the transition guidance within the new standard which, among other things, allows the Company to carryforward the historical lease classification. The Company made an accounting policy election to keep leases with an initial term of 12 months or less off of its balance sheet. The Company recognized those lease payments in its statements of operations on a straight-line basis over the lease period.

As of the adoption date, the Company recognized an operating lease asset and liability of $113 and $113, respectively, as of September 1, 2019 on its balance sheet.

Commitments and Contingencies

9 Months Ended

May 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 2 - COMMITMENTS AND CONTINGENCIES:

In March 2011, the Subsidiary sold shares of its investee company, Entera, to D.N.A, retaining 117,000 ordinary shares (after giving effect to a stock split by Entera in July 2018). In consideration for the shares sold to D.N.A, the Company received, among other payments, ordinary shares of D.N.A (see also note 4).

As part of this agreement, the Subsidiary entered into a patent transfer agreement (the "Patent Transfer Agreement") according to which the Subsidiary assigned to Entera all of its right, title and interest in and to a certain patent application related to the oral administration of proteins that it has licensed to Entera since August 2010. Under this agreement, the Subsidiary is entitled to receive from Entera royalties of 3% of Entera's net revenues (as defined in the agreement) and a license back of that patent application for use in respect of diabetes and influenza. As of May 31, 2020, Entera had not yet realized any revenues and had not paid any royalties to the Subsidiary. On December 11, 2018, Entera announced that it had entered into a research collaboration and license agreement (the "Amgen License") with Amgen related to research of inflammatory disease and other serious illnesses. As reported by Entera, under the terms of the Amgen License, Entera will receive a modest initial technology access fee from Amgen and will be responsible for preclinical development at Amgen's expense. Entera will be eligible to receive up to $270,000 in aggregate payments, as well as tiered royalties up to mid-single digits, upon achievement of various clinical and commercial milestones if Amgen decides to move all of these programs forward. Amgen is responsible for clinical development, manufacturing and commercialization of any of the resulting programs. To the extent the Amgen License results in net revenues as defined in the Patent Transfer Agreement, the Subsidiary will be entitled to the aforementioned royalties.

In addition, as part of a consulting agreement with a third party, dated February 15, 2011, the Subsidiary is obliged to pay this third party royalties of 8% of the net royalties received in respect of the patent that was sold to Entera in March 2011.

On January 3, 2017, the Subsidiary entered into a lease agreement for its office facilities in Israel. The lease agreement is for a period of 60 months commencing October 1, 2016.

The annual lease payment was New Israeli Shekel ("NIS") 119,000 ($34) from October 2016 through September 2018 and NIS 132,000 ($38) from October 2018 through September 2021, and is linked to the increase in the Israeli consumer price index ("CPI") (as of May 31, 2020, the aggregate future lease payments will be $50 until the expiration of the lease agreement, based on the exchange rate as of May 31, 2020).

As security for its obligation under this lease agreement, the Company provided a bank guarantee in an amount equal to three monthly lease payments.

On December 18, 2017, the Subsidiary entered into an agreement with a vendor for the process development and production of one of its oral capsule ingredients in the amount of $2,905 that will be paid over the term of the engagement and based on the achievement of certain development milestones, of which $1,542 was recognized in research and development expenses through May 31, 2020.

On February 14, 2018, the Subsidiary entered into a Clinical Research Organization Services Agreement with a third party, effective as of November 1, 2017, to retain it as a clinical research organization ("CRO") for the Subsidiary's three month dose-ranging clinical trial for its oral insulin capsule for type 2 diabetes patients and, on May 20, 2019, the Subsidiary entered into amendments to such agreement. As consideration for its services, the Subsidiary will pay the CRO a total amount of $10,206 during the term of the engagement and based on achievement of certain milestones, of which $9,221 was recognized in research and development expenses through May 31, 2020.

On July 29, 2019, the Subsidiary entered into a CRO Services Agreement with a third party to retain it as a CRO for the Subsidiary's dose-ranging clinical trial for its oral insulin. As consideration for its services, the Subsidiary will pay the CRO a total amount of $658 during the term of the engagement and based on achievement of certain milestones, of which $615 was recognized in research and development expenses through May 31, 2020.

Grants from the Israel Innovation Authority ("IIA")

Under the terms of the Company's funding from the IIA, royalties of 3% are payable on sales of products developed from a project so funded, up to a maximum amount equaling 100%-150% of the grants received (dollar linked) with the addition of interest at an annual rate based on LIBOR.

At the time the grants were received, successful development of the related projects was not assured. The total amount that was received through May 31, 2020 was $2,207.

The royalty expenses which are related to the funded project were recognized in cost of revenues in the quarter ended May 31, 2020 and in prior periods.

Grants from the European Commission ("EC")

During the nine months ended May 31, 2020 the Company received an aggregate payment of €17,500 from the EC under The European Innovation Council Accelerator (previously known as SME Instrument) of the European Innovation Programme Horizon 2020.

As part of the grant terms, the Company is required to use the proceeds from the grant in Europe. The Company intends on using the grant to explore the possibility of running clinical trials in Europe.

Significant Accounting Policies (Policies)

9 Months Ended

May 31, 2020

Accounting Policies [Abstract]

General

a.	General:

Incorporation and operations

On May 14, 2007, the Company incorporated a wholly-owned subsidiary in Israel, Oramed Ltd. (the "Subsidiary"), which is engaged in research and development.

On March 11, 2011, the Company was reincorporated from the State of Nevada to the State of Delaware.

On July 30, 2019, the Subsidiary incorporated a wholly-owned subsidiary in Hong Kong, Oramed HK Limited. As of May 31, 2020, Oramed HK Limited has no operations.

The License Agreement shall remain in effect until the expiration of the Royalty Term. The License Agreement contains customary termination provisions.

For revenue recognition policy see note 1c.

Development and liquidity risks

Loss per common share

b.	Loss per common share

Revenue recognition

c.	Revenue recognition

Financial instruments

d.	Financial instruments

Condensed Consolidated Financial Statements Preparation

Condensed Consolidated Financial Statements Preparation

Recently adopted standards

f.	Recently adopted standards

As of the adoption date, the Company recognized an operating lease asset and liability of $113 and $113, respectively, as of September 1, 2019 on its balance sheet.

Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Dec. 28, 2015	Nov. 30, 2015	May 31, 2020	May 31, 2019	May 31, 2020	May 31, 2019	Sep. 02, 2019	Aug. 31, 2019	Jul. 31, 2015
Significant Accounting Policies (Textual)
Milestone payment received					$ 20,500
Right of use assets and lease liabilities			$ 89		89
License agreement value					22,382
Recognize revenue			$ 681		$ 12,051
Securities excluded from the calculation of diluted net loss			5,194,275	4,568,811	4,940,900	4,386,209
Non-refundable amount									$ 500
Milestone payment, description					The initial payment of $3,000 was received in January 2016. Following the achievement of certain milestones, the second and third payments of $6,500 and $4,000, respectively, were received in July 2016, the fourth milestone payment of $4,000 was received in October 2016 and the fifth milestone payment of $3,000 was received in January 2019.
Operating lease liability							$ 113
Operating lease asset							$ 113
Stock Purchase Agreement [Member]
Significant Accounting Policies (Textual)
Number of common stock issued ,value	$ 10,617
Total consideration	49,500
Issuance expenses	23
License Agreement [Member]
Significant Accounting Policies (Textual)
Number of common stock issued ,value	$ 38,883
Deferred costs			$ 10,331		$ 10,331
HTIT [Member]
Significant Accounting Policies (Textual)
Percentages of royalties on net sales					10.00%
Aggregate license costs					$ 37,500
License costs payable			3,000		3,000
Amount paid subject to the Company entering into certain agreements			8,000		8,000
Payable upon achievement of certain milestones and conditions			$ 26,500		$ 26,500
Royalty commitment description					In the event that the Company does not meet certain conditions, the Royalties rate may be reduced to a minimum of 8%. Following the final expiration of the Company's patents covering the technology in the Territory in 2033, the Royalties rate may be reduced, under certain circumstances, to 5%.
Royalty term					15 years
HTIT [Member] \| Stock Purchase Agreement [Member]
Significant Accounting Policies (Textual)
Number of common stock issued		1,155,367
Number of common stock issued ,value		$ 12,000

Commitments and Contingencies (Details) - USD ($) $ in Thousands		1 Months Ended				9 Months Ended
	Dec. 11, 2018	Jul. 29, 2019	Feb. 14, 2018	Dec. 18, 2017	Mar. 31, 2011	May 31, 2020	Oct. 01, 2016	Feb. 15, 2011
Commitments (Textual)
Aggregate payments receive	$ 270,000
Grants from the European Commission, description						The Company received an aggregate payment of €17,500 from the EC under The European Innovation Council Accelerator (previously known as SME Instrument) of the European Innovation Programme Horizon 2020.
Total received						$ 2,207
Vendor One [Member]
Commitments (Textual)
Commitments for consulting services				$ 2,905
Expense which was recognized						1,542
Clinical Research Organization Services Agreement [Member]
Commitments (Textual)
Commitments for consulting services			$ 10,206
Vendor Two [Member]
Commitments (Textual)
Expense which was recognized						9,221
Vendor Four [Member]
Commitments (Textual)
Expense which was recognized						$ 615
Office Facilities [Member]
Commitments (Textual)
Operating lease, term							60 months
Lessee, description						The annual lease payment was New Israeli Shekel (“NIS”) 119,000 ($34) from October 2016 through September 2018 and NIS 132,000 ($38) from October 2018 through September 2021, and is linked to the increase in the Israeli consumer price index (“CPI”) (as of May 31, 2020, the aggregate future lease payments will be $50 until the expiration of the lease agreement, based on the exchange rate as of May 31, 2020).
Third party [Member] \| Clinical Research Organization Services Agreement [Member]
Commitments (Textual)
Commitments for consulting services		$ 658
Entera Bio Ltd. [Member] \| D.N.A [Member]
Commitments (Textual)
Ownership percentage retained					3.00%
Royalty percentage								8.00%
Ordinary shares after stock split					117,000
Israel Innovation Authority [Member]
Commitments (Textual)
Royalty percentage						3.00%
Israel Innovation Authority [Member] \| Minimum [Member]
Commitments (Textual)
Royalty percentage						100.00%
Israel Innovation Authority [Member] \| Maximum [Member]
Commitments (Textual)
Royalty percentage						150.00%

Marketable Securities (Details) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Short-term:
D.N.A (see b below)	$ 313	$ 557
Entera (see c below)	225	304
Held to maturity bonds (see d below)	4,501	2,840
Mutual funds	3,296
Marketable securities	8,335	3,701
Long-term:
Held to maturity bonds (see d below)	$ 4,722	$ 1,295

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended
	Jul. 07, 2020	May 31, 2020	Apr. 09, 2020	Feb. 27, 2020	Sep. 05, 2019	Aug. 31, 2019
Stockholders' Equity (Textual)
Common stock, par value		$ 0.012				$ 0.012
Warrant [Member]
Stockholders' Equity (Textual)
Common stock aggregate offering price			$ 180,561
Issuance of shares			12,640
Offering price				$ 5,250,000
Common stock, par value				$ 4.00
Description of underwriter agreement				The Company granted the Underwriter a 45-day option to purchase from the Company up to an additional 787,500 shares of common stock at the public offering price ("Over-Allotment Option"). In connection with the Offering, the Company also agreed to issue to the Underwriter, or its designees, warrants ("Underwriter’s Warrants"), to purchase up to an aggregate of 7% of the shares of common stock sold in the Offering (including any additional shares sold during the 45-day option period), at an exercise price of $4.80 per share.
Underwriting expense			$ 19,979
Sales Agreement [Member]
Stockholders' Equity (Textual)
Common stock aggregate offering price					$ 15,000
Percentage of commission					3.00%
Issuance of shares	690,639	440,866
Aggregate net proceeds	$ 3,313	$ 2,329

Marketable Securities (Details 1) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Marketable Securities (Details 1) - USD ($) $ in Thousands	May 31, 2020	Aug. 31, 2019
Summary of held to maturity securities [Abstract]
Amortized cost	$ 9,223	$ 4,135
Gross unrealized gains/losses	139	10
Estimated fair value	9,362	4,145
Short-term [Member] \| Accrued interest [Member]
Summary of held to maturity securities [Abstract]
Amortized cost	78	32
Gross unrealized gains/losses
Estimated fair value	78	32
Long-term [Member]
Summary of held to maturity securities [Abstract]
Amortized cost	4,722	1,295
Gross unrealized gains/losses	97	4
Estimated fair value	$ 4,819	$ 1,299
Average yield to maturity rate	1.93%	2.90%
Commercial bonds [Member] \| Short-term [Member]
Summary of held to maturity securities [Abstract]
Amortized cost	$ 4,423	$ 2,808
Gross unrealized gains/losses	42	6
Estimated fair value	$ 4,465	$ 2,814
Average yield to maturity rate	2.67%	2.47%

Marketable Securities (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2020	Aug. 31, 2019
Marketable Securities (Textual)
Percentage of ownership interest	5.60%
Cost of securities	$ 595	$ 595
Marketable securities maturity, term	12 months
Cost method investment	$ 1

Related Parties - Transactions (Details) ₪ in Thousands, $ in Thousands		9 Months Ended
	Jul. 01, 2008	May 31, 2020 USD ($)	May 31, 2020 ILS (₪)	May 31, 2019 USD ($)
Related Parties - Transactions (Textual)
Relocation expenses		$ 407		$ 389
KNRY [Member]
Related Parties - Transactions (Textual)
Consulting agreements, description	The Consulting Agreements, as amended, are both terminable by either party upon 140 days prior written notice. The Consulting Agreements, as amended, provide that KNRY will be reimbursed for reasonable expenses incurred in connection with performance of the Consulting Agreements and that the monthly consulting fee paid to the CEO and the CSO is NIS 127,570 ($37) and NIS 92,522 ($27), respectively.
Chief Executive Officer [Member]
Related Parties - Transactions (Textual)
Monthly consulting fee		37
Chief Executive Officer [Member] \| NIS [Member]
Related Parties - Transactions (Textual)
Monthly consulting fee \| ₪			₪ 127,570
Chief Scientific Officer [Member]
Related Parties - Transactions (Textual)
Monthly consulting fee		$ 27
Chief Scientific Officer [Member] \| NIS [Member]
Related Parties - Transactions (Textual)
Monthly consulting fee \| ₪			₪ 92,522

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 31, 2020	Aug. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.012	$ 0.012
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	23,277,039	17,383,359
Common stock, shares outstanding	23,277,039	17,383,359