0001213900-20-038924 | 10-K | XBRL Viewer | Oramed Pharmaceuticals INC

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Aug. 31, 2020	Nov. 24, 2020	Feb. 29, 2020
Document Information Line Items
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Document Type	10-K
Current Fiscal Year End Date	--08-31
Entity Common Stock, Shares Outstanding		23,675,530
Entity Public Float			$ 60,800,854
Amendment Flag	false
Entity Central Index Key	0001176309
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Aug. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	000-50298
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 19,296	$ 3,329
Short-term deposits (note 2)	11,060	25,252
Marketable securities (note 3)	9,544	3,701
Prepaid expenses and other current assets	611	1,042
Total current assets	40,511	33,324
LONG-TERM ASSETS:
Long-term deposits and investment (note 4)	2	1
Marketable securities (note 3)	3,928	1,295
Amounts funded in respect of employee rights upon retirement	18	19
Property and equipment, net	99	24
Operating lease right of use assets	75
Total long-term assets	4,122	1,339
Total assets	44,633	34,663
CURRENT LIABILITIES:
Accounts payable and accrued expenses (note 5)	1,699	2,541
Deferred revenues	2,703	2,703
Payable to related parties (note 11c)	90	64
Operating lease liabilities	44
Total current liabilities	4,536	5,308
LONG-TERM LIABILITIES:
Deferred revenues	6,947	9,658
Employee rights upon retirement	18	22
Provision for uncertain tax position (note 10f)	11	11
Operating lease liabilities	31
Other liabilities	211	271
Total long-term liabilities	7,218	9,962
COMMITMENTS (note 6)
STOCKHOLDERS’ EQUITY:
Common stock, $ 0.012 par value (60,000,000 authorized shares as of August 31, 2020 and 30,000,000 authorized shares as of August 31, 2019; 23,675,530 and 17,383,359 shares issued and outstanding as of August 31, 2020 and 2019, respectively)	284	208
Additional paid-in capital	125,209	100,288
Accumulated deficit	(92,614)	(81,103)
Total stockholders’ equity	32,879	19,393
Total liabilities and stockholders’ equity	$ 44,633	$ 34,663

Consolidated Balance Sheets (Parentheticals) - $ / shares	Aug. 31, 2020	Aug. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.012	$ 0.012
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	23,675,530	17,383,359
Common stock, shares outstanding	23,675,530	17,383,359

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Statement of Comprehensive Income [Abstract]
REVENUES	$ 2,710	$ 2,703
COST OF REVENUES (INCOME) (note 6f)		90
RESEARCH AND DEVELOPMENT EXPENSES	10,235	13,522
GENERAL AND ADMINISTRATIVE EXPENSES	4,232	3,722
OPERATING LOSS	11,757	14,631
FINANCIAL INCOME (note 9a)	690	1,061
FINANCIAL EXPENSES (note 9b)	444	485
LOSS BEFORE TAXES ON INCOME	11,511	14,055
TAXES ON INCOME (note 10d)		300
NET LOSS FOR THE YEAR	11,511	14,355
UNREALIZED INCOME ON AVAILABLE FOR SALE SECURITIES
TOTAL OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ 11,511	$ 14,355
LOSS PER SHARE OF COMMON STOCK:
BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Dollars per share)	$ 0.56	$ 0.82
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Shares)	20,532,347	17,454,489

Consolidated Statements of Changes in Stockholders’ Equity - USD ($)
shares in Thousands, $ 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, (in Shares) at Aug. 31, 2018

17,369

INITIAL ADOPTION OF ASU 2016-01

(702)

702

INITIAL ADOPTION OF ASC 606

1,773

SHARES ISSUED FOR SERVICES

$ 1

SHARES ISSUED FOR SERVICES (in Shares)

STOCK-BASED COMPENSATION

808

NET LOSS

(14,355)

BALANCE, at Aug. 31, 2019

$ 208

100,288

(81,103)

19,393

BALANCE, (in Shares) at Aug. 31, 2019

17,383

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES (in Shares)

ISSUANCE OF COMMON STOCK, NET

$ 75

23,698

23,773

ISSUANCE OF COMMON STOCK, NET (in Shares)

6,270

EXERCISE OF WARRANTS AND OPTIONS

$ 1

EXERCISE OF WARRANTS AND OPTIONS (in Shares)

STOCK-BASED COMPENSATION

1,173

NET LOSS

(11,511)

BALANCE, at Aug. 31, 2020

$ 284

$ 125,209

$ (92,614)

$ 32,879

BALANCE, (in Shares) at Aug. 31, 2020

23,675

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

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (11,511)	$ (14,355)
Adjustments required to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	7	8
Exchange differences and interest on deposits and held to maturity bonds	546	(183)
Stock-based compensation	1,173	808
Change at fair value of investments	465	437
Shares issued for services	38	55
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	431	(468)
Accounts payable, accrued expenses and related parties	(816)	501
Deferred revenue	(2,710)	297
Liability for employee rights upon retirement	(4)	2
Other liabilities	(59)	(42)
Total net cash used in operating activities	(12,440)	(12,940)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(82)	(15)
Purchase of short-term deposits	(27,204)	(24,990)
Purchase of mutual funds	(3,750)
Purchase of long-term deposits		(4,237)
Purchase of held to maturity securities	(8,428)	(1,357)
Proceeds from sale of short-term deposits	40,891	38,611
Proceeds from maturity of held to maturity securities	3,200	3,250
Funds in respect of employee rights upon retirement	(1)	(3)
Total net cash provided by (used in) investing activities	4,626	11,259
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock and warrants, net of issuance costs	23,773
Proceeds from exercise of warrants and options	13
Total net cash provided by financing activities	23,786
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(5)	14
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	15,967	(1,667)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	3,329	4,996
CASH AND CASH EQUIVALENTS AT END OF PERIOD	19,296	3,329
SUPPLEMENTARY DISCLOSURE ON CASH FLOWS
Taxes paid		300
Interest received	$ 1,313	$ 929

Significant Accounting Policies

12 Months Ended

Aug. 31, 2020

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES:

General

Incorporation and operations

Oramed Pharmaceuticals Inc. (collectively with its subsidiaries, 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 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 Company’s subsidiary incorporated a wholly-owned subsidiary in Hong Kong, Oramed HK Limited (the “Hong Kong Subsidiary”). As of August 31, 2020, the Hong Kong Subsidiary has no operation.

On November 30, 2015, the Company entered into a Technology License Agreement (the “TLA”), with Hefei Tianhui Incubation 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 August 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.

On August 21, 2020, the Company received a letter from HTIT, disputing certain pending payment obligations of HTIT under the TLA. The payment obligation being disputed is $4,000, out of which only an amount of $2,000 has been received and has been included in Deferred revenue in each of the consolidated balance sheets as of the fiscal years ended August 31, 2020, and 2019. In addition, the dispute includes a payment obligation of $2,000 for certain milestones that the Company asserts it met under the TLA subsequent to the fiscal year ended August 31, 2020. The Company wholly disputes the claims made by HTIT and has been engaged in discussions and exchanges with HTIT in an attempt to clarify and resolve disagreements between the parties regarding milestone payments and work plan implementation.

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.

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. Given the Company’s continuing involvement through the expected product submission (June 2023), amounts received relating to the License Agreement are recognized over the period from which the Company is entitled to the respective payment, and the expected product submission date using a time-based model approach over the periods that the fees are earned.

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 the Company’s revenue recognition policy see note 1k.

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.

Basis of presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Use of estimates in the preparation of financial statements

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements date and the reported expenses during the reporting periods. Actual results could differ from those estimates.

As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to stock-based compensation, expectation of milestone payments and to the expected product submission date for revenue recognition purposes.

Functional currency

The currency of the primary economic environment in which the operations of the Company and its Subsidiaries are conducted is the U.S. dollar (“$” or “dollar”). Therefore, the functional currency of the Company and its Subsidiaries is the dollar.

Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in foreign currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For foreign transactions and other items reflected in the statements of operations, the following exchange rates are used: (1) for transactions - exchange rates at transaction dates or average rates and (2) for other items (derived from non-monetary balance sheet items such as depreciation) - historical exchange rates. The resulting transaction gains or losses are carried to financial income or expenses, as appropriate.

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its Subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

Cash equivalents

The Company considers all short-term, highly liquid investments, which include short-term deposits with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash, to be cash equivalents.

Fair value measurement:

The Company measures fair value and discloses fair value measurements for financial assets. Fair value is based on the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows:

Level 1:

Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2:

Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:

Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

As of August 31, 2020, the assets measured at fair value are comprised of equity securities (Level 1). The fair value of held to maturity bonds as presented in note 3 was based on a Level 2 measurement.

As of August 31, 2020, the carrying amounts of cash equivalents, short-term deposits and accounts payable approximate their fair values due to the short-term maturities of these instruments.

As of August 31, 2020, the carrying amounts of long-term deposits approximate their fair values due to the stated interest rates which approximate market rates.

The amounts funded in respect of employee rights are stated at cash surrender value which approximates its fair value.

There were no Level 3 items for the years ended August 31, 2020 and 2019.

Marketable securities

Equity securities

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 (investments in equity securities of D.N.A Biomedical Solutions Ltd. (“D.N.A”), Entera Bio Ltd. (“Entera”) and other mutual funds) to financial assets measured at fair value through profit or loss. The Company adopted the standard using the modified retrospective method and, accordingly, reclassified the cumulative unrealized gain from accumulated other comprehensive income to a reduction of its accumulated deficit in an amount of $702.

Held to maturity securities

All debt securities are classified as held-to-maturity because the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity. On a continuous basis, management assesses whether there are any indicators that the value of the Company’s marketable securities may be impaired, which includes reviewing the underlying cause of any decline in value and the estimated recovery period, as well as the severity and duration of the decline. In the Company’s evaluation, the Company considers its ability and intent to hold these investments for a reasonable period of time sufficient for the Company to recover its cost basis. A marketable security is impaired if the fair value of the security is less than the carrying value of the security and such difference is deemed to be other-than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the security over the estimated fair value of the security.

Concentration of credit risks

Financial instruments that subject the Company to credit risk consist primarily of cash and cash equivalents, short and long-term deposits and marketable securities which are deposited in major financial institutions. The Company is of the opinion that the credit risk in respect of these balances is remote.

As of the date of issuing these financial statements, all amounts due from HTIT with regard to the License Agreement have been received, as described in note 1 above. However, the balance of prepaid expenses and other current assets composed of $290 was due as an expenses reimbursement from HTIT.

Income taxes

Deferred taxes

Deferred taxes are determined utilizing the asset and liability method based on the estimated future tax effects of differences between the financial accounting and tax bases of assets and liabilities under the applicable tax laws. Deferred tax balances are computed using the tax rates expected to be in effect when those differences reverse. A valuation allowance in respect of deferred tax assets is provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company has provided a full valuation allowance with respect to its deferred tax assets. See note 10.

Regarding the Subsidiary, the recognition is prohibited for deferred tax liabilities or assets that arise from differences between the financial reporting and tax bases of assets and liabilities that are measured from the local currency into dollars using historical exchange rates, and that result from changes in exchange rates or indexing for tax purposes. Consequently, the abovementioned differences were not reflected in the computation of deferred tax assets and liabilities.

Taxes that would apply in the event of disposal of investments in the Subsidiary have not been taken into account in computing deferred taxes, as it is the Company’s intention to hold this investment, not to realize it.

Uncertainty in income tax

The Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Such liabilities are classified as long-term, unless the liability is expected to be resolved within twelve months from the balance sheet date. The Company’s policy is to include interest and penalties related to unrecognized tax benefits within income tax expenses.

Revenue recognition

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. 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 at the earlier of the time (a) when the related sale has occurred and (b) the Company has fulfilled the related performance obligation. To date, the Company has not recognized any royalty-related revenue.

As of the adoption date, the Company adjusted its accumulated deficit by $1,773 against contract liabilities due to the effect of variable consideration.

Amounts that were allocated to the License Agreement as of August 31, 2020 aggregated $22,383, all of which was received through the balance sheet date. Through August 31, 2020, the Company recognized revenue associated with this agreement in the aggregate amount of $12,732 (of which $2,710 was recognized in the twelve-months period ended August 31, 2020), and deferred the remaining amount of $9,650, which is presented as a contract liability on the condensed consolidated balance sheet.

Cost of revenues

Cost of revenues consists of royalties to the IIA related to the License Agreement with HTIT. The royalties are recognized when proceeds related to the License Agreement are received.

Research and development

Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, employee benefits, the cost of supplies, the cost of services provided by outside contractors, including services related to the Company’s clinical trials, clinical trial expenses and the full cost of manufacturing drug for use in research and preclinical development. All costs associated with research and development are expensed as incurred.

Clinical trial costs are a significant component of research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as Clinical Research Organizations (“CROs”), independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical studies. For each clinical trial that the Company conducts, clinical trial costs are expensed immediately.

Stock-based compensation

Equity awards granted to employees are accounted for using the grant date fair value method. The grant date fair value is determined as follows: for stock options and restricted stock units (“RSUs”) with an exercise price using the Black Scholes pricing model, for stock options with market conditions using a Monte Carlo model and for RSUs with service conditions based on the grant date share price. The fair value of share based payment awards is recognized as an expense over the requisite service period. The expected term is the length of time until the expected dates of exercising the award and is estimated using the simplified method due to insufficient specific historical information of employees’ exercise behavior, unless the award includes a market condition, in which case the contractual term is used. The volatility is based on a historical volatility, by statistical analysis of the weekly share price for past periods. The Company elected to recognize compensation cost for awards granted to employees that have a graded vesting schedule using the accelerated method based on the multiple-option award approach. For awards with only market conditions, compensation expense is not reversed if the market conditions are not satisfied.

When stock options are granted as consideration for services provided by consultants and other non-employees, the transaction is accounted for based on the fair value of the consideration received or the fair value of the stock options issued, whichever is more reliably measurable. The fair value of the options granted to consultants and other non-employees is measured on a final basis at the end of the related service period using the Black Scholes pricing model and is recognized over the related service period using the straight-line method.

The Company elects to account for forfeitures as they occur.

On September 1, 2019 the Company adopted the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718) Improvements to Nonemployee Share-based Payments. This ASU was issued to simplify the accounting for share-based transactions by expanding the scope of Topic 718 from only being applicable to share-based payments to employees to also include share-based payment transactions for acquiring goods and services from nonemployees. As a result, nonemployee share-based transactions are being measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions.

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 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 stock options, warrants and RSUs excluded from the calculation of diluted net loss was 5,025,723 and 4,423,325 for the years ended August 31, 2020 and 2019, respectively.

Newly issued and recently adopted Accounting Pronouncements

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 $168 and $168, respectively, as of September 1, 2019 on its balance sheet.

Recently issued Accounting Pronouncements, not yet adopted

In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses—Measurement of Credit Losses on Financial Instruments.” This guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective for the fiscal year beginning after December 15, 2022, including interim periods within that year. The adoption of this guidance will not have a significant impact on the Company’s consolidated financial statements.

Short-Term Deposits

12 Months Ended

Aug. 31, 2020

Short Term Deposits [Abstract]

SHORT-TERM DEPOSITS

NOTE 2 - SHORT-TERM DEPOSITS:

Composition:

	August 31,
	2020					2019
	Annual interest rate			Amount		Annual interest rate			Amount
Dollar deposits		0.85-1.60	%	$	11,060		1.80-3.44	%	$	25,252

Marketable Securities

12 Months Ended

Aug. 31, 2020

Investments Debt And Equity Securities Abstract

MARKETABLE SECURITIES

NOTE 3 - MARKETABLE SECURITIES:

Composition:

The Company’s marketable securities include investments in equity securities of D.N.A, Entera, mutual funds and in held to maturity bonds.

Composition:

	August 31,
	2020		2019
Short-term:
D.N.A (see b below)	$	246	$	557
Entera (see c below)		150		304
Held to maturity bonds (see d below)		5,369		2,840
Preferred equity		481		-
Mutual funds*		3,298		-
	$	9,544	$	3,701

Long-term:
Held to maturity bonds (see d below)	$	3,928	$	1,295
	$	13,472	$	4,996

Mutual funds include equity funds only

D.N.A

The D.N.A ordinary shares are traded on the Tel Aviv Stock Exchange. The fair value of those securities is measured at the quoted prices of the securities on the measurement date.

During the years ended August 31, 2020 and 2019, the Company did not sell any of the D.N.A ordinary shares. As of August 31, 2020, the Company owns approximately 5.6% of D.N.A’s outstanding ordinary shares.

The cost of the securities as of August 31, 2020 and 2019 is $595.

Entera

Entera ordinary shares have been traded on The Nasdaq Capital Market since June 28, 2018. The Company measures the investment at fair value from such date, since it has a readily determinable fair value (prior to such date the investment was accounted for as a cost method investment (amounting to $1)).

Held to maturity bonds

The amortized cost and estimated fair value of held-to-maturity securities at August 31, 2020, are as follows:

	August 31, 2020
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	5,295	$	(29	)	$	5,266		2.26	%
Accrued interest		74		-			74

Long-term		3,928		56			3,984		2.20	%
	$	9,297	$	27		$	9,324

The amortized cost and estimated fair value of held-to-maturity securities at August 31, 2019, are as follows:

	August 31, 2019
	Amortized cost		Gross unrealized gains (losses)		Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	2,808	$	6	$	2,814		2.90	%
Accrued interest		32		-		32

Long-term		1,295		4		1,299		2.47	%
	$	4,135	$	10	$	4,145

Held to maturity securities which will mature during the 12 months from the balance sheet date are included in short-term marketable securities. Held to maturity securities with maturity dates of more than one year are considered long-term marketable securities.

Long-Term Deposits and Investment

12 Months Ended

Aug. 31, 2020

Debt Disclosure [Abstract]

LONG-TERM DEPOSITS AND INVESTMENT

NOTE 4 - LONG-TERM DEPOSITS AND INVESTMENT:

Composition:
	August 31,
	2020		2019
Lease car deposits		2		1
	$	2	$	1

Accounts Payable and Accrued Expenses

12 Months Ended

Aug. 31, 2020

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 5 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Composition:
	August 31,
	2020		2019
Accounts payable	$	594	$	1,337
Payroll and related accruals		54		25
Institutions		19		33
Accrued liabilities		1,032		1,146
	$	1,699	$	2,541

Commitments

12 Months Ended

Aug. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

NOTE 6 - COMMITMENTS:

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 3).

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 August 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 ($35) from October 2016 through September 2018 and NIS 132,000 ($39) from October 2018 through September 2021, and is linked to the increase in the Israeli consumer price index (“CPI”).

On August 2, 2020, the Subsidiary entered into a new lease agreement for its facilities in Israel. The new lease agreement is for a period of 60 months commencing September 1, 2020. The Company has the option to extend the period in another 60 months. The annual lease payment, including management fees, is NIS 435,000 ($130). The Company intends to terminate its current lease agreement before moving to the new office.

As security for its obligation under these lease agreements, 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 August 31, 2020.

On September 2, 2020 (effective as of January 15, 2020), the Subsidiary entered into a CRO Services Agreement with a third party to retain it as a CRO for the Subsidiary’s phase 3 clinical trial for its oral insulin. As consideration for its services, the Subsidiary will pay the CRO a total amount of $21,589 during the term of the engagement and based on achievement of certain milestones, of which $178 was recognized in research and development expenses through August 31, 2020.

On September 16, 2020 (effective as of January 15, 2020), the Subsidiary entered into a CRO Services Agreement with a third party to retain it as a CRO for the Subsidiary’s phase 3 clinical trial for its oral insulin. As consideration for its services, the Subsidiary will pay the CRO a total amount of $12,343 during the term of the engagement and based on achievement of certain milestones, of which $400 was recognized in research and development expenses through August 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 August 31, 2020 was $2,207. All grants were received before fiscal year 2020 and recorded as a reduction of Research and development expenses at that time.

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

Grants from the European Commission (“EC”)

During fiscal year 2020, the Company received an aggregate payment of €50 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.

Stockholders' Equity

12 Months Ended

Aug. 31, 2020

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

NOTE 7 - STOCKHOLDERS’ EQUITY:

The following are the significant capital stock transactions that took place during the years ended August 31, 2020 and 2019:

In August 2019, the Company became aware of a shareholder derivative claim and putative class action alleging, among other things, that the Second Amended and Restated 2008 Stock Incentive Plan (the “2008 Plan”) may have terminated in 2018. However, the Company disputed these claims and believes that the 2008 Plan does not terminate until 2026 and any suggestion to the contrary is not well-founded. For the sake of clarity and out of an abundance of caution, the Company adopted a new option plan, which was approved at its 2019 shareholder meeting. Such 2019 Stock Incentive Plan, as amended and restated (the “2019 Plan”) originally allowed the Company to grant up to 1,000,000 options. Since the Company had granted options during the time after the old plan allegedly terminated, and out of an abundance of caution, the Company canceled these grants and reissued the options under the new option plan in the same amounts and under the same terms as the original grants. The cancelation and grants were approved by the Company’s board on September 11, 2019. Out of the available options under the 2019 Plan, the Company have been granted 563,646 to replace the options under dispute as mentioned above. The cancellation of the award accompanied by the concurrent grant of a replacement award was accounted for as modification of the terms of the cancelled award. Since the replacement award was given under the same terms as the cancelled award, no incremental compensation cost was recognized. On August 3, 2020, the stockholders of the Company adopted the amended and restated 2019 Plan which increased the shares available to grant under the plan by an additional 2,000,000 to 3,000,000 options.

On September 5, 2019, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”), pursuant to which the Company may, from time to time and at the Company’s option, issue and sell shares of Company common stock having an aggregate offering price of up to $15,000, through a sales agent, subject to certain terms and conditions. Any shares sold will be sold pursuant to the Company’s effective shelf registration statement on Form S-3 including a prospectus and prospectus supplement, each dated February 10, 2020 (which superseded a prior registration statement, prospectus and prospectus supplement that related to shares sold under the Sales Agreement). The Company will pay the sales agent a cash commission of 3.0% of the gross proceeds of the sale of any shares sold through the sales agent under the Sales Agreement. As of August 31, 2020, 839,357 shares were issued under the Sales Agreement for aggregate net proceeds of $3,879.

On February 27, 2020, the Company entered into an underwriting agreement (“Agreement”) with National Securities Corporation (“Underwriter”), in connection with a public offering (“Offering”) of 5,250,000 shares of the Company’s common stock, at an offering price of $4.00 per share. Under the terms of the 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. The Underwriter’s Warrants issued in the Offering will be exercisable at any time and from time to time, in whole or in part, commencing six months from issuance for a period of three years from the date of issuance. The closing of the sale of the Offering occurred on March 2, 2020. On April 9, 2020, the Company issued 180,561 shares of Common Stock and 12,640 Underwriter’s Warrants pursuant to a partial exercise by the Underwriter of the Over-Allotment Option (“Partial Over-Allotment Option Exercise”). The net proceeds to the Company from the Offering, including from the Partial Over-Allotment Option Exercise, after deducting the underwriting discount and the Company’s estimated Offering expenses were $19,894.

As of August 31, 2020, the Company had outstanding warrants exercisable commencing January 6, 2019 for 3,407,820 shares of common stock at exercise prices ranging from $4.80 to $7.8125 per share and expiring from January 6, 2022 to April 10, 2029.

The following table presents the warrant activity for the years ended August 31, 2020 and 2019:

	Year ended August 31,
	2020				2019
	Warrants		Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding at beginning of year		3,007,680	$	7.27		3,007,680	$	7.27
Issued		400,140	$	4.77		-	$	-
Exercised		-	$	-		-	$	-
Expired		-	$	-		-	$	-
Warrants outstanding at end of year		3,407,820	$	6.98		3,007,680	$	7.27
Warrants exercisable at end of year		3,407,820	$	6.98		3,007,680	$	7.27

Stock-Based Compensation

12 Months Ended

Aug. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 8 - STOCK-BASED COMPENSATION:

The Company makes awards only under the 2019 Plan, under which, the Company had reserved a pool of 3,000,000 shares of the Company’s common stock which may be issued at the discretion of the Company’s Board of Directors from time to time. Under this 2019 Plan, each option is exercisable into one share of common stock of the Company. The options may be exercised after vesting and in accordance with vesting schedules which will be determined by the Board of Directors for each grant. The maximum term of the options is 10 years.

The following are the significant stock options transactions with employees, board members and non-employees made during the years ended August 31, 2020 and 2019:

On February 26, 2019, the Company granted options to purchase an aggregate of 360,000 shares of common stock of the Company at an exercise price of $3.16 per share (equivalent to the closing price of the Company’s common stock on the date of grant) as follows: 196,500 to the CEO; 104,000 to the CSO; and 59,500 to employees of the Subsidiary. 49,125, 26,000 and 14,875 options of the CEO, CSO and the employees, respectively, were vested and the remainder will vest in three equal annual installments on each of December 31, 2020, 2021 and 2022. These options expire on February 26, 2029. The fair value of all these options on the date of grant was $731, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $3.16; dividend yield of 0% for all years; expected volatility of 69.05%; risk-free interest rates of 2.54%; and expected term of 6.25 years.

On April 10, 2019 and April 15, 2019, the Company granted options to its directors to purchase an aggregate of 30,000 shares of common stock of the Company at an exercise price of $4.17 and $4.13 per share, respectively (equivalent to the closing price of the Company’s common stock on the date of grant). 20,000 of such options vested immediately and the remaining 10,000 options vested on December 31, 2019. The fair value of all these options on the date of grant was $64, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $4.13 and $4.17, respectively; dividend yield of 0% for all years; expected volatility of 54.64% and 66.40%, respectively; risk-free interest rates of 2.37% and 2.28%, respectively; and expected term of 5 and 5.5 years, respectively.

On June 17, 2019, the Company granted options to its chief financial officer to purchase an aggregate of 33,146 shares of common stock of the Company at an exercise price of $3.55 per share (equivalent to the closing price of the Company’s common stock on the date of grant). 5,396 of such options vested will vest on December 31, 2019 and the remaining 27,750 will vest in 3 equal installments on each of December 31, 2020, December 31, 2021 and December 31, 2022. The fair value of all these options on the date of grant was $74, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $3.55; dividend yield of 0% for all years; expected volatility of 67.79%; risk-free interest rates of 2.03%; and expected term of 6.25 years.

On September 11, 2019, the Company granted options to its chief business and operation officer to purchase an aggregate of 100,000 shares of common stock of the Company at an exercise price of $3.69 per share (equivalent to the closing price of the Company’s common stock on the date of grant). The options shall vest in 16 equal installments of 6,250 on the first day of every three months period beginning November 1, 2019. As of August 31, 2020, 25,000 of such options are vested. The options expire on September 11, 2029. The fair value of all these options on the date of grant was $224, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $3.69; dividend yield of 0% for all years; expected volatility of 65.60%; risk-free interest rates of 1.89%; and expected term of 6.14 years.

On September 11, 2019, the Company granted options to its chief business and operation officer to purchase an aggregate of 100,000 shares of common stock of the Company at an exercise price of $3.69 per share (equivalent to the closing price of the Company’s common stock on the date of grant). The options shall vest in 4 installments upon achievement of certain performance conditions. As of August 31, 2020, no such options are vested. The options expire on September 11, 2029. The fair value of all these options on the date of grant was $127, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $3.69; dividend yield of 0% for all years; expected volatility of 67.96%; risk-free interest rates of 1.68%; expected term of 6.91 years; and the probability that such performance conditions will occur.

On January 8, 2020, the Company granted options to its directors to purchase an aggregate of 100,000 shares of common stock of the Company at an exercise price of $4.80 per share (equivalent to the closing price of the Company’s common stock on the date of grant). The options shall vest in three equal installments on each of December 31, 2020, December 31, 2021 and December 31, 2022. The options expire on January 8, 2030. The fair value of all these options on the date of grant was $278, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $4.80; dividend yield of 0% for all years; expected volatility of 62.55%; risk-free interest rates of 1.67%; and expected term of 5.99.

On January 8, 2020, the Company granted options to purchase an aggregate of 290,000 shares of common stock of the Company at an exercise price of $4.80 per share (equivalent to the closing price of the Company’s common stock on the date of grant) as follows: 190,000 to the CEO and 100,000 to the CSO. The options will vest in four equal annual installments, on each of December 31, 2020, 2021, 2022 and 2023. These options expire on January 8, 2030. The fair value of all these options on the date of grant was $868, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $4.80; dividend yield of 0% for all years; expected volatility of 67.87%; risk-free interest rates of 1.67%; and expected term of 6.24 years.

Options to employees, directors and non-employees

The fair value of each option grant is estimated on the date of grant using the Black Scholes option-pricing model or Monte Carlo model with the following range of assumptions:

	For options granted in the year ended August 31,
	2020	2019
Expected option life (years)	5.74-6.24	5-6.25
Expected stock price volatility (%)	57.77-68.14	54.64-69.05
Risk free interest rate (%)	1.67-1.89	2.03-2.54
Expected dividend yield (%)	0.0	0.0

A summary of the status of the stock options granted to employees and directors as of August 31, 2020, and 2019, and changes during the years ended on those dates, is presented below:

	Year ended August 31,
	2020					2019
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$
Options outstanding at beginning of year		1,264,645			6.11		1,208,634			7.25
Changes during the year:
Granted		943,646			3.98		423,146			3.26
Forfeited		(392,646	)		3.79		(136,084	)		5.79
Expired		(206,243	)		6.02		(231,051	)		7.07
Exercised		(12,253	)		1.00		-
Options outstanding at end of year		1,597,149			5.47		1,264,645			6.11
Options exercisable at end of year		687,024					709,383
Weighted average fair value of options granted during the year	$	2.79				$	2.06

Expenses recognized in respect of stock options granted to employees and directors, for the years ended August 31, 2020 and 2019 were $1,086 and $791, respectively.

The total intrinsic value of employees’ options exercised during the year ended August 31, 2020 was $27. None of the options were exercised by employees during the year ended August 31, 2019.

The following table presents summary information concerning the options granted to employees and directors outstanding as of August 31, 2020:

Exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price
$				Years		$
	1.00 to 6.00		1,117,980		8.06		3.98
	6.23 to 7.88		225,251		6.82		7.73
	8.14 to 12.45		253,918		5.77		10.01
			1,597,149		7.52		5.47

687,024 of options granted to employees and directors that were outstanding as of August 31, 2020, were also exercisable as of August 31, 2020.

As of August 31, 2020, there were $1,167 of unrecognized compensation costs related to non-vested options previously granted to employees and directors. The unrecognized compensation costs are expected to be recognized over a weighted average period of 2.1 years.

A summary of the status of the stock options granted to non-employees outstanding as of August 31, 2020 and 2019, and changes during the years ended on those dates, is presented below:

	Year ended August 31,
	2020				2019
	Number of options		Weighted average exercise price		Number of options			Weighted average exercise price
			$					$
Options outstanding at beginning of year		47,152		9.51		55,486			6.71
Changes during the year:
Granted		56,000		4.21		-			-
Exercised		-		-		-			-
Forfeited		-		-		-			-
Expired		-		-		(8,334	)		9.12
Options outstanding at end of year		103,152		6.64		47,152			9.51
Options exercisable at end of year		65,152		5.58		41,992			6.32
Weighted average fair value of options granted during the year	$	2.47				-

The Company recorded stock-based compensation of $87 and $22 during the years ended August 31, 2020 and 2019, respectively, related to non-employees’ awards.

None of the options were exercised by non-employees during the years ended August 31, 2020 and 2019.

The following table presents summary information concerning the options granted to non-employees outstanding as of August 31, 2020:

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$				Years		$
	3.74-5.08		56,000		9.30		4.22
	6.00-7.36		47,152		5.21		6.29
			103,152		7.43		5.16

65,152 options granted to non-employees that were outstanding as of August 31, 2020, were also exercisable as of August 31, 2019.

As of August 31, 2020, there were $51 of unrecognized compensation costs related to non-vested options previously granted to non-employees. The unrecognized compensation costs are expected to be recognized over a weighted average period of 1.5 years.

Restricted stock units

The following table summarizes the activities for unvested RSUs granted to employees and directors for the years ended August 31, 2020 and 2019:

	Year ended August 31,
	2020		2019
	Number of RSUs
Unvested at the beginning of period		164,636		165,796
Vested and issued		-		(290	)
Forfeited		-		(870	)
Outstanding at the end of the period		164,636		164,636
Vested and unissued		164,636		164,636

The Company recorded compensation income related to RSUs of $5 for the year ended August 31, 2019, related to RSU awards. During the year ended August 31, 2020, the Company did not record expense or income related to RSU.

As of August 31, 2020, there are no unrecognized compensation costs related to RSUs.

Financial Income and Expenses

12 Months Ended

Aug. 31, 2020

Other Income and Expenses [Abstract]

FINANCIAL INCOME AND EXPENSES

NOTE 9 - FINANCIAL INCOME AND EXPENSES

Financial income

	Year ended August 31,
	2020		2019
Income from interest on deposits	$	552	$	909
Income from interest on corporate bonds		138		152
	$	690	$	1,061

Financial expenses

	Year ended August 31,
	2020		2019
Exchange rate differences	$	6	$	14
Bank and broker commissions		6		4
Loss (gain) from securities, net		432		436
Other		-		31
	$	444	$	485

Taxes on Income

12 Months Ended

Aug. 31, 2020

Income Tax Disclosure [Abstract]

TAXES ON INCOME

NOTE 10 - TAXES ON INCOME:

Taxes on income included in the consolidated statements of operations represent current taxes due to taxable income of the Company and its Subsidiary.

Corporate taxation in the U.S.

The applicable corporate tax rate for the Company is 21% following the U.S. Tax Cuts and Jobs Act (the “TCJA”), excluding state tax and local tax. On December 22, 2017, the TCJA was signed into law, which among other changes reduced the federal corporate income tax rate from 35% to 21%, effective January 1, 2018.

As of August 31, 2020, the Company has an accumulated tax loss carryforward of approximately $15,880 (as of August 31, 2019, $13,013). Under U.S. tax laws, subject to certain limitations, carryforward tax losses originating in tax years beginning after January 1, 2018, have no expiration date, but they are limited to 80% of the company's taxable income in any given tax year. carryforward tax losses originating in tax years beginning prior to January 1, 2018, expire 20 years after the year in which incurred. In the case of the Company, subject to potential limitations in accordance with the relevant law, the net loss carryforward will expire in the years 2027 through 2039.

Corporate taxation in Israel:

The Subsidiary is taxed in accordance with Israeli tax laws. The corporate tax rates applicable to 2020 and 2019 is 23%.

As of August 31, 2020, the Subsidiary has an accumulated tax loss carryforward of approximately $57,900 (as of August 31, 2019, approximately $44,469). Under the Israeli tax laws, carryforward tax losses have no expiration date.

Deferred income taxes:

	August 31,
	2020			2019
In respect of:
Net operating loss carryforward	$	16,652		$	13,239
Research and development expenses		2,740			2,999
Less - valuation allowance		(19,392	)		(16,238	)
Net deferred tax assets	$	-		$	-

Deferred taxes are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a full valuation allowance.

The reduction of the tax rate and TCJA had no impact on the net deferred taxes of the Company.

Loss before taxes on income and income taxes included in the income statements of operations:

	Year ended August 31,
	2020		2019
Loss before taxes on income:
U.S.	$	2,868	$	2,283
Outside U.S.		8,643		11,772
	$	11,511	$	14,055
Taxes on income (tax benefit):
Current:
U.S.		-		-
Outside U.S.		-		300
	$	-	$	300

Taxes on income of $300 in the year ended August 31, 2019 resulted from withholding tax deducted from HTIT milestones payments, which were received during the year ended August 31, 2019, according to the License Agreement. As of August 31, 2020, the Company did not expect to reach taxable income in the 5 years following the balance sheet date, and therefore recognized this amount as taxes on income.

Reconciliation of the statutory tax benefit to effective tax expense

Following is a reconciliation of the theoretical tax expense, assuming all income is taxed at the regular tax rates applicable to companies in the United States, and the actual tax expense:

	Year ended August 31,
	2020			2019
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(11,511	)	$	(14,055	)

Statutory tax benefit		(2,417	)		(2,952	)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		3,154			3,356
Disallowable deductions		135			86
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years		(872	)		(490	)
Withholding tax, see note 10d above		-			300
Uncertain tax position		-			-
Taxes on income for the reported year	$	-		$	300

Uncertainty in Income Taxes

ASC Topic 740, “Income Taxes” requires significant judgment in determining what constitutes an individual tax position as well as assessing the outcome of each tax position. Changes in judgment as to recognition or measurement of tax positions can materially affect the estimate of the effective tax rate and consequently, affect the operating results of the Company. The Company recognizes interest and penalties related to its tax contingencies as income tax expense.

The following table summarizes the activity of the Company unrecognized tax benefits:

	Year ended August 31,
	2020		2019
Balance at Beginning of Year	$	11	$	11
Decrease in uncertain tax positions for the current year		-		-
Balance at End of Year	$	11	$	11

The Company does not expect unrecognized tax expenses to change significantly over the next 12 months.

The Company is subject to U.S. Federal income tax examinations for the tax years of 2016 through 2018.

The Subsidiary is subject to Israeli income tax examinations for the tax years of 2014 through 2019.

Valuation Allowance Rollforward

	Year ended August 31,
	Balance at beginning of period		Additions		Balance at end of period
Allowance in respect of carryforward tax losses:
Year ended August 31, 2020	$	16,238	$	3,154	$	19,392
Year ended August 31, 2019		12,882		3,356		16,238

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related parties - Transactions

12 Months Ended

Aug. 31, 2020

RELATED PARTIES - TRANSACTIONS

NOTE 11 - RELATED PARTIES - TRANSACTIONS:

During each of the fiscal years of 2020 and 2019, the Company paid to directors $95 and $100, respectively, as directors’ fees.

On July 1, 2008, the Subsidiary entered into two consulting agreements with KNRY Ltd. (“KNRY”), an Israeli company owned by the CSO, whereby the CEO and the CSO, through KNRY, provide services to the Company (the “Consulting Agreements”). The Consulting Agreements 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 ($38) and NIS 92,522 ($28), respectively.

In addition to the Consulting Agreements, based on a relocation cost analysis prepared by consulting company ORI - Organizational Resources International Ltd., the Company pays for certain direct costs, related taxes and expenses incurred in connection with the relocation of the CEO to New York. During fiscal 2020 and 2019 such relocation expenses totaled $516 and $486, respectively.

Balances with related parties:

	August 31,
	2020		2019
Accounts payable and accrued expenses - KNRY	$	90	$	64

Expenses to related parties:

	Year ended August 31,
	2020		2019
KNRY	$	766	$	730
Nadav Kidron (CEO)	$	801		785

Accounting Policies, by Policy (Policies)

12 Months Ended

Aug. 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.

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

Development and liquidity risks

Basis of presentation

b.	Basis of presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Use of estimates in the preparation of financial statements

c.	Use of estimates in the preparation of financial statements

Functional currency

d.	Functional currency

Principles of consolidation

e.	Principles of consolidation

The consolidated financial statements include the accounts of the Company and its Subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

Cash equivalents

f.	Cash equivalents

Fair value measurement

g.	Fair value measurement:

Level 1:

Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2:

Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:

Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

As of August 31, 2020, the carrying amounts of cash equivalents, short-term deposits and accounts payable approximate their fair values due to the short-term maturities of these instruments.

As of August 31, 2020, the carrying amounts of long-term deposits approximate their fair values due to the stated interest rates which approximate market rates.

The amounts funded in respect of employee rights are stated at cash surrender value which approximates its fair value.

There were no Level 3 items for the years ended August 31, 2020 and 2019.

Marketable securities

h.	Marketable securities

Equity securities

Held to maturity securities

Concentration of credit risks

i.	Concentration of credit risks

Income taxes

j.	Income taxes

Deferred taxes

Uncertainty in income tax

Revenue recognition

k.	Revenue recognition

As of the adoption date, the Company adjusted its accumulated deficit by $1,773 against contract liabilities due to the effect of variable consideration.

Cost of revenues

l.	Cost of revenues

Cost of revenues consists of royalties to the IIA related to the License Agreement with HTIT. The royalties are recognized when proceeds related to the License Agreement are received.

Research and development

m.	Research and development

Stock-based compensation

n.	Stock-based compensation

The Company elects to account for forfeitures as they occur.

Loss per common share

o.	Loss per common share

Newly issued and recently adopted Accounting Pronouncements

p.	Newly issued and recently adopted Accounting Pronouncements

Recently issued Accounting Pronouncements, not yet adopted

q.	Recently issued Accounting Pronouncements, not yet adopted

Short-Term Deposits (Tables)

12 Months Ended

Aug. 31, 2020

Short Term Deposits [Abstract]

Schedule of short-term debt

	August 31,
	2020					2019
	Annual interest rate			Amount		Annual interest rate			Amount
Dollar deposits		0.85-1.60	%	$	11,060		1.80-3.44	%	$	25,252

Marketable Securities (Tables)

12 Months Ended

Aug. 31, 2020

Investments Debt And Equity Securities Abstract

Schedule of marketable securities include investments in equity securities

	August 31,
	2020		2019
Short-term:
D.N.A (see b below)	$	246	$	557
Entera (see c below)		150		304
Held to maturity bonds (see d below)		5,369		2,840
Preferred equity		481		-
Mutual funds*		3,298		-
	$	9,544	$	3,701

Long-term:
Held to maturity bonds (see d below)	$	3,928	$	1,295
	$	13,472	$	4,996

Mutual funds include equity funds only

Schedule of amortized cost and estimated fair value of held-to-maturity securities

	August 31, 2020
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	5,295	$	(29	)	$	5,266		2.26	%
Accrued interest		74		-			74

Long-term		3,928		56			3,984		2.20	%
	$	9,297	$	27		$	9,324

	August 31, 2019
	Amortized cost		Gross unrealized gains (losses)		Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	2,808	$	6	$	2,814		2.90	%
Accrued interest		32		-		32

Long-term		1,295		4		1,299		2.47	%
	$	4,135	$	10	$	4,145

Long-Term Deposits and Investment (Tables)

12 Months Ended

Aug. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term deposits and investment

Composition:
	August 31,
	2020		2019
Lease car deposits		2		1
	$	2	$	1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Aug. 31, 2020

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Composition:
	August 31,
	2020		2019
Accounts payable	$	594	$	1,337
Payroll and related accruals		54		25
Institutions		19		33
Accrued liabilities		1,032		1,146
	$	1,699	$	2,541

Stockholders' Equity (Tables)

12 Months Ended

Aug. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of warrant activity

	Year ended August 31,
	2020				2019
	Warrants		Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding at beginning of year		3,007,680	$	7.27		3,007,680	$	7.27
Issued		400,140	$	4.77		-	$	-
Exercised		-	$	-		-	$	-
Expired		-	$	-		-	$	-
Warrants outstanding at end of year		3,407,820	$	6.98		3,007,680	$	7.27
Warrants exercisable at end of year		3,407,820	$	6.98		3,007,680	$	7.27

Stock-Based Compensation (Tables)

12 Months Ended

Aug. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of fair value of option grant using the Black Scholes option-pricing model

	For options granted in the year ended August 31,
	2020	2019
Expected option life (years)	5.74-6.24	5-6.25
Expected stock price volatility (%)	57.77-68.14	54.64-69.05
Risk free interest rate (%)	1.67-1.89	2.03-2.54
Expected dividend yield (%)	0.0	0.0

Schedule of activities for unvested RSUs granted to employees and directors

	Year ended August 31,
	2020					2019
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$
Options outstanding at beginning of year		1,264,645			6.11		1,208,634			7.25
Changes during the year:
Granted		943,646			3.98		423,146			3.26
Forfeited		(392,646	)		3.79		(136,084	)		5.79
Expired		(206,243	)		6.02		(231,051	)		7.07
Exercised		(12,253	)		1.00		-
Options outstanding at end of year		1,597,149			5.47		1,264,645			6.11
Options exercisable at end of year		687,024					709,383
Weighted average fair value of options granted during the year	$	2.79				$	2.06

Schedule of options granted to employees and directors outstanding and exercisable

Exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price
$				Years		$
	1.00 to 6.00		1,117,980		8.06		3.98
	6.23 to 7.88		225,251		6.82		7.73
	8.14 to 12.45		253,918		5.77		10.01
			1,597,149		7.52		5.47

Schedule of stock options granted to non-employees outstanding

	Year ended August 31,
	2020				2019
	Number of options		Weighted average exercise price		Number of options			Weighted average exercise price
			$					$
Options outstanding at beginning of year		47,152		9.51		55,486			6.71
Changes during the year:
Granted		56,000		4.21		-			-
Exercised		-		-		-			-
Forfeited		-		-		-			-
Expired		-		-		(8,334	)		9.12
Options outstanding at end of year		103,152		6.64		47,152			9.51
Options exercisable at end of year		65,152		5.58		41,992			6.32
Weighted average fair value of options granted during the year	$	2.47				-

Schedule of concerning the options granted to non-employees outstanding and exercisable

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$				Years		$
	3.74-5.08		56,000		9.30		4.22
	6.00-7.36		47,152		5.21		6.29
			103,152		7.43		5.16

Schedule of activities for unvested RSUs granted to employees and directors

	Year ended August 31,
	2020		2019
	Number of RSUs
Unvested at the beginning of period		164,636		165,796
Vested and issued		-		(290	)
Forfeited		-		(870	)
Outstanding at the end of the period		164,636		164,636
Vested and unissued		164,636		164,636

Financial Income and Expenses (Tables)

12 Months Ended

Aug. 31, 2020

Other Income and Expenses [Abstract]

Schedule of financial income

	Year ended August 31,
	2020		2019
Income from interest on deposits	$	552	$	909
Income from interest on corporate bonds		138		152
	$	690	$	1,061

Schedule of Other Nonoperating Expense, by Component [Table Text Block]

	Year ended August 31,
	2020		2019
Exchange rate differences	$	6	$	14
Bank and broker commissions		6		4
Loss (gain) from securities, net		432		436
Other		-		31
	$	444	$	485

Taxes on Income (Tables)

12 Months Ended

Aug. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of deferred income taxes

	August 31,
	2020			2019
In respect of:
Net operating loss carryforward	$	16,652		$	13,239
Research and development expenses		2,740			2,999
Less - valuation allowance		(19,392	)		(16,238	)
Net deferred tax assets	$	-		$	-

Schedule of income taxes included in the income statements

	Year ended August 31,
	2020		2019
Loss before taxes on income:
U.S.	$	2,868	$	2,283
Outside U.S.		8,643		11,772
	$	11,511	$	14,055
Taxes on income (tax benefit):
Current:
U.S.		-		-
Outside U.S.		-		300
	$	-	$	300

Schedule of reconciliation of income taxes

	Year ended August 31,
	2020			2019
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(11,511	)	$	(14,055	)

Statutory tax benefit		(2,417	)		(2,952	)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		3,154			3,356
Disallowable deductions		135			86
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years		(872	)		(490	)
Withholding tax, see note 10d above		-			300
Uncertain tax position		-			-
Taxes on income for the reported year	$	-		$	300

Schedule of unrecognized tax benefits activity

	Year ended August 31,
	2020		2019
Balance at Beginning of Year	$	11	$	11
Decrease in uncertain tax positions for the current year		-		-
Balance at End of Year	$	11	$	11

Schedule of valuation allowance rollforward

	Year ended August 31,
	Balance at beginning of period		Additions		Balance at end of period
Allowance in respect of carryforward tax losses:
Year ended August 31, 2020	$	16,238	$	3,154	$	19,392
Year ended August 31, 2019		12,882		3,356		16,238

Related parties - Transactions (Tables)

12 Months Ended

Aug. 31, 2020

Schedule of balances with related parties

	August 31,
	2020		2019
Accounts payable and accrued expenses - KNRY	$	90	$	64

Schedule of expenses to related parties

	Year ended August 31,
	2020		2019
KNRY	$	766	$	730
Nadav Kidron (CEO)	$	801		785

Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Aug. 21, 2020	Dec. 28, 2015	Nov. 30, 2015	Aug. 31, 2020	Aug. 31, 2019	Sep. 01, 2019	Jul. 31, 2015
Significant Accounting Policies (Details) [Line Items]
Royalty term				15 years
Milestone payment received				$ 20,500
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.
Total consideration		$ 38,883
Non-refundable amount							$ 500
Accumulated deficit				$ 702
Uncertain tax description				The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement.
Adjusted accumulated deficit against contract liabilities				$ 1,773
Recognized revenue, description				the Company recognized revenue associated with this agreement in the aggregate amount of $12,732 (of which $2,710 was recognized in the twelve-months period ended August 31, 2020), and deferred the remaining amount of $9,650, which is presented as a contract liability on the condensed consolidated balance sheet.
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares)				5,025,723	4,423,325
Operating lease asset				$ 75		$ 168
Operating lease liability						$ 168
Stock Purchase Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued		10,617
Total consideration		49,500
Issuance expenses		23
License Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued		38,883		$ 22,383
Total consideration		49,500
Issuance expenses		$ 23
HTIT [Member]
Significant Accounting Policies (Details) [Line Items]
Percentages of royalties on net sales				10.00%
Aggregate license cost				$ 37,500
License cost payable				3,000
Amount paid subject to the Company entering into certain agreements				8,000
Payable upon achievement of certain milestones and conditions				$ 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%.
Milestone payment, description	the Company received a letter from HTIT, disputing certain pending payment obligations of HTIT under the TLA. The payment obligation being disputed is $4,000, out of which only an amount of $2,000 has been received and has been included in Deferred revenue in each of the consolidated balance sheets as of the fiscal years ended August 31, 2020, and 2019. In addition, the dispute includes a payment obligation of $2,000 for certain milestones that the Company asserts it met under the TLA subsequent to the fiscal year ended August 31, 2020. The Company wholly disputes the claims made by HTIT and has been engaged in discussions and exchanges with HTIT in an attempt to clarify and resolve disagreements between the parties regarding milestone payments and work plan implementation.
Issuance expenses				$ 290
HTIT [Member] \| Stock Purchase Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued (in Shares)			1,155,367
Number of common stock issued			$ 12,000

Short-Term Deposits (Details) - Schedule of short-term debt - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Short-term Debt [Line Items]
Amount (in Dollars)	$ 11,060	$ 25,252
Minimum [Member]
Short-term Debt [Line Items]
Annual interest rate	0.85%	1.80%
Maximum [Member]
Short-term Debt [Line Items]
Annual interest rate	1.60%	3.44%

Marketable Securities (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
Investments Debt And Equity Securities Abstract
Percentage of ownership interest	5.60%
Cost of securities	$ 595	$ 595
Cost method investment	$ 1

Marketable Securities (Details) - Schedule of marketable securities include investments in equity securities - USD ($)
$ in Thousands

Aug. 31, 2020

Aug. 31, 2019

Schedule of marketable securities include investments in equity securities [Abstract]

D.N.A (see b below)

$ 246

$ 557

Entera (see c below)

150

304

Held to maturity bonds (see d below)

5,369

2,840

Preferred equity

481

Mutual funds

^[1]

3,298

Marketable securities

9,544

3,701

Long-term:

Held to maturity bonds (see d below)

3,928

1,295

Total marketable securities, noncurrent

$ 13,472

$ 4,996

[1]	Mutual funds include equity funds only

Marketable Securities (Details) - Schedule of amortized cost and estimated fair value of held-to-maturity securities - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	$ 9,297	$ 4,135
Gross unrealized gains (losses)	27	10
Estimated fair value	9,324	4,145
Short-term [Member] \| Accrued interest [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	74	32
Estimated fair value	74	32
Short-term [Member] \| Commercial bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	5,295	2,808
Gross unrealized gains (losses)	(29)	6
Estimated fair value	$ 5,266	$ 2,814
Average yield to maturity rate	2.26%	2.90%
Long-term [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	$ 3,928	$ 1,295
Gross unrealized gains (losses)	56	4
Estimated fair value	$ 3,984	$ 1,299
Average yield to maturity rate	2.20%	2.47%

Long-Term Deposits and Investment (Details) - Schedule of long-term deposits and investment - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
Schedule of long-term deposits and investment [Abstract]
Lease car deposits	$ 2	$ 1
Total long term deposits and investment	$ 2	$ 1

Accounts Payable and Accrued Expenses (Details) - Schedule of accounts payable and accrued expenses - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
Schedule of accounts payable and accrued expenses [Abstract]
Accounts payable	$ 594	$ 1,337
Payroll and related accruals	54	25
Institutions	19	33
Accrued liabilities	1,032	1,146
Total accounts payable and accrued expenses	$ 1,699	$ 2,541

Commitments (Details) - USD ($) $ in Thousands							12 Months Ended
Commitments (Details) - USD ($) $ in Thousands	Sep. 16, 2020	Sep. 02, 2020	Dec. 11, 2018	Dec. 18, 2017	Jan. 03, 2017	Mar. 31, 2011	Aug. 31, 2020	Feb. 15, 2011
Commitments (Details) [Line Items]
Aggregate payments receive			$ 270,000
Total received							$ 2,207
Grants from the European Commission, description							the Company received an aggregate payment of €50 from the EC under The European Innovation Council Accelerator (previously known as SME Instrument) of the European Innovation Programme Horizon 2020.
Vendor One [Member]
Commitments (Details) [Line Items]
Commitments for consulting services				$ 2,905
Expense which was recognized							$ 1,542
Vendor Two [Member]
Commitments (Details) [Line Items]
Commitments for consulting services		$ 21,589
Expense which was recognized							178
Vendor Three [Member]
Commitments (Details) [Line Items]
Commitments for consulting services	$ 12,343
Expense which was recognized							$ 400
Office Facilities [Member]
Commitments (Details) [Line Items]
Operating lease, term					60 months
Lessee, description					The annual lease payment was New Israeli Shekel (“NIS”) 119,000 ($35) from October 2016 through September 2018 and NIS 132,000 ($39) from October 2018 through September 2021, and is linked to the increase in the Israeli consumer price index (“CPI”). On August 2, 2020, the Subsidiary entered into a new lease agreement for its facilities in Israel. The new lease agreement is for a period of 60 months commencing September 1, 2020. The Company has the option to extend the period in another 60 months. The annual lease payment, including management fees, is NIS 435,000 ($130). The Company intends to terminate its current lease agreement before moving to the new office.
Entera Bio Ltd. [Member] \| D.N.A [Member]
Commitments (Details) [Line Items]
Ordinary shares after stock split (in Shares)						117,000
Ownership percentage retained						3.00%
Royalty percentage								8.00%
Israel Innovation Authority [Member]
Commitments (Details) [Line Items]
Royalty percentage							3.00%
Israel Innovation Authority [Member] \| Minimum [Member]
Commitments (Details) [Line Items]
Royalty percentage							100.00%
Israel Innovation Authority [Member] \| Maximum [Member]
Commitments (Details) [Line Items]
Royalty percentage							150.00%

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		12 Months Ended
	Sep. 05, 2019	Aug. 03, 2019	Feb. 27, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Stockholders' Equity (Details) [Line Items]
Shares granted					943,646	423,146
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms			the Company entered into an underwriting agreement (“Agreement”) with National Securities Corporation (“Underwriter”), in connection with a public offering (“Offering”) of 5,250,000 shares of the Company’s common stock, at an offering price of $4.00 per share. Under the terms of the 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. The Underwriter’s Warrants issued in the Offering will be exercisable at any time and from time to time, in whole or in part, commencing six months from issuance for a period of three years from the date of issuance. The closing of the sale of the Offering occurred on March 2, 2020. On April 9, 2020, the Company issued 180,561 shares of Common Stock and 12,640 Underwriter’s Warrants pursuant to a partial exercise by the Underwriter of the Over-Allotment Option (“Partial Over-Allotment Option Exercise”). The net proceeds to the Company from the Offering, including from the Partial Over-Allotment Option Exercise, after deducting the underwriting discount and the Company’s estimated Offering expenses were $19,894.
Outstanding warrants exercisable					3,407,820
common stock exercise prices ranging decrease (in Dollars per share)					$ 4,800
common stock exercise prices ranging increasing (in Dollars per share)					$ 7,812.5
Incentive Plan 2019 [Member]
Stockholders' Equity (Details) [Line Items]
Shares grant				1,000,000		1,000,000
Shares granted				563,646
Incentive Plan 2019 [Member] \| Minimum [Member]
Stockholders' Equity (Details) [Line Items]
Increased shares under the grant plan		2,000,000
Incentive Plan 2019 [Member] \| Maximum [Member]
Stockholders' Equity (Details) [Line Items]
Increased shares under the grant plan		3,000,000
Sale agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price (in Dollars)	$ 15,000
Agent commission rate	3.00%
Shares, Issued					839,357
Aggregate net proceeds (in Dollars)					$ 3,879

Stockholders' Equity (Details) - Schedule of warrant activity - $ / shares	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of warrant activity [Abstract]
Warrants beginning of year	3,007,680	3,007,680
Weighted- Average Exercise Price beginning of year	$ 7.27	$ 7.27
Warrants Issued	400,140
Weighted- Average Exercise Price Issued	$ 4.77
Warrants Exercised
Weighted- Average Exercise Price Exercised
Warrants Expired
Weighted- Average Exercise Price Expired
Warrants end of year	3,407,820	3,007,680
Weighted- Average Exercise Price end of year	$ 6.98	$ 7.27
Warrants exercisable at end of year	3,407,820	3,007,680
Weighted- Average Exercise Price exercisable at end of year	$ 6.98	$ 7.27

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended			12 Months Ended
	Jan. 08, 2020	Sep. 11, 2019	Apr. 10, 2019	Jun. 17, 2019	Apr. 15, 2019	Feb. 26, 2019	Aug. 31, 2020	Aug. 31, 2019
Stock-Based Compensation (Details) [Line Items]
Options granted							943,646	423,146
Exercise price							$ 3.98	$ 3.26
Vesting, description	The options will vest in four equal annual installments, on each of December 31, 2020, 2021, 2022 and 2023.	The options shall vest in 16 equal installments of 6,250 on the first day of every three months period beginning November 1, 2019. As of August 31, 2020, 25,000 of such options are vested.
Fair value of options granted	$ 868						$ 51
Stock price	$ 4.80
Expected dividend yield	0.00%
Expected volatility	67.87%
Risk-free interest rate	1.67%			2.03%
Expected term	6 years 87 days
Stock based compensation							1,173	$ 808
Intrinsic value of options exercised							$ 27
Weighted average period							1 year 6 months
Stock Issued During Period, Shares, Restricted Stock Award, Gross							87	22
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Details) [Line Items]
Stock based compensation							$ 5
Common Stock [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted	290,000
Exercise price	$ 4.80
2019 Plan [Member]
Stock-Based Compensation (Details) [Line Items]
Reserved pool of shares							3,000,000
Maximum term of the options							10 years
Employees, board members and non-employees [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						360,000
Exercise price						$ 3.16
Vesting, description						were vested and the remainder will vest in three equal annual installments on each of December 31, 2020, 2021 and 2022.
Expiration date						Feb. 26, 2029
Fair value of options granted						$ 731
Stock price						$ 3.16
Expected dividend yield						0.00%
Expected volatility						69.05%
Risk-free interest rate						2.54%
Expected term						6 years 3 months
Chief Executive Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						196,500
Options vested	190,000					49,125
Chief Scientific Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						104,000
Options vested	100,000					26,000
Employees [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						59,500
Options vested						14,875
Director [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted	100,000		30,000		30,000
Exercise price	$ 4.80		$ 4.17		$ 4.13
Options vested			20,000
Vesting, description	The options shall vest in three equal installments on each of December 31, 2020, December 31, 2021 and December 31, 2022.
Fair value of options granted	$ 278		$ 64
Stock price	$ 4.80		$ 4.13		$ 4.17
Expected dividend yield	0.00%		0.00%
Expected volatility	62.55%		54.64%		66.40%
Risk-free interest rate	1.67%		2.37%		2.28%
Expected term	5 years 361 days		5 years		5 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms			10,000
Chief Financial Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted				33,146
Exercise price				$ 3.55
Options vested				5,396
Vesting, description				the remaining 27,750 will vest in 3 equal installments on each of December 31, 2020, December 31, 2021 and December 31, 2022.
Fair value of options granted				$ 74
Stock price				$ 3.55
Expected dividend yield				0.00%
Expected volatility				67.79%
Expected term				6 years 3 months
Chief business and operation officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted		100,000
Exercise price		$ 3.69
Fair value of options granted		$ 224
Stock price		$ 3.69
Expected dividend yield		0.00%
Expected volatility		65.60%
Risk-free interest rate		1.89%
Expected term		6 years 51 days
Chief business and operation officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted		100,000
Exercise price		$ 3.69
Fair value of options granted		$ 127
Stock price		$ 3.69
Expected dividend yield		0.00%
Expected volatility		67.96%
Risk-free interest rate		1.68%
Expected term		6 years 332 days
Employees And Directors [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted							687,024
Stock based compensation							$ 1,086	$ 791
Unrecognized compensation expense							$ 1,167
Weighted average period							2 years 36 days
Non Employee [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted							65,152

Stock-Based Compensation (Details) - Schedule of fair value of option grant using the Black Scholes option-pricing model - Options Held [Member]	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Stock-Based Compensation (Details) - Schedule of fair value of option grant using the Black Scholes option-pricing model [Line Items]
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Stock-Based Compensation (Details) - Schedule of fair value of option grant using the Black Scholes option-pricing model [Line Items]
Expected option life (years)	5 years 270 days	5 years
Expected stock price volatility	57.77%	54.64%
Risk free interest rate	1.67%	2.03%
Maximum [Member]
Stock-Based Compensation (Details) - Schedule of fair value of option grant using the Black Scholes option-pricing model [Line Items]
Expected option life (years)	6 years 87 days	6 years 3 months
Expected stock price volatility	68.14%	69.05%
Risk free interest rate	1.89%	2.54%

Stock-Based Compensation (Details) - Schedule of stock options granted to employees and directors	12 Months Ended
	Aug. 31, 2020 $ / shares shares	Aug. 31, 2019 $ / shares shares
Schedule of stock options granted to employees and directors [Abstract]
Number of options, Options outstanding \| shares	1,264,645	1,208,634
Weighted average exercise price, Options outstanding at beginning of year (in Dollars per share) \| $ / shares	$ 6.11	$ 7.25
Changes during the year:
Number of options, Number of options, Granted \| shares	943,646	423,146
Weighted average exercise price, Granted (in Dollars per share) \| $ / shares	$ 3.98	$ 3.26
Number of options, Forfeited \| shares	(392,646)	(136,084)
Weighted average exercise price, Forfeited (in Dollars per share) \| $ / shares	$ 3.79	$ 5.79
Number of options, Expired \| shares	(206,243)	(231,051)
Weighted average exercise price, Expired (in Dollars per share) \| $ / shares	$ 6.02	$ 7.07
Number of options, Exercised \| shares	(12,253)
Weighted average exercise price, Exercised (in Dollars per share) \| $ / shares	$ 1.00
Number of options, Options outstanding \| shares	1,597,149	1,264,645
Weighted average exercise price, Options outstanding at end of year (in Dollars per share) \| $ / shares	$ 5.47	$ 6.11
Options exercisable at end of year \| shares	687,024	709,383
Weighted average fair value of options granted during the year (in Dollars per share) \| $ / shares	$ 2.79	$ 2.06

Stock-Based Compensation (Details) - Schedule of options granted to employees and directors outstanding and exercisable	12 Months Ended
	Aug. 31, 2020 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	1,597,149
Weighted Average Remaining Contractual Life	7 years 189 days
Weighted average exercise price \| $ / shares	$ 5.47
Employees And Directors [Member] \| 1.00 to 6.00 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	1,117,980
Weighted Average Remaining Contractual Life	8 years 21 days
Weighted average exercise price \| $ / shares	$ 3.98
Employees And Directors [Member] \| 6.23 to 7.88 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	225,251
Weighted Average Remaining Contractual Life	6 years 299 days
Weighted average exercise price \| $ / shares	$ 7.73
Employees And Directors [Member] \| 8.14 to 12.45 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	253,918
Weighted Average Remaining Contractual Life	5 years 281 days
Weighted average exercise price \| $ / shares	$ 10.01

Stock-Based Compensation (Details) - Schedule of stock options granted to non-employees outstanding - Share-based Payment Arrangement [Member]	12 Months Ended
	Aug. 31, 2020 $ / shares shares	Aug. 31, 2019 $ / shares shares
Stock-Based Compensation (Details) - Schedule of stock options granted to non-employees outstanding [Line Items]
Number of options, Options outstanding at beginning of year (in Shares) \| shares	47,152	55,486
Weighted average exercise price, Options outstanding at beginning of year	$ 9.51	$ 6.71
Number of options, Granted (in Shares) \| shares	56,000
Weighted average exercise price, Granted	$ 4.21
Number of options, Exercised (in Shares) \| shares
Weighted average exercise price, Exercised
Number of options, Forfeited (in Shares) \| shares
Weighted average exercise price, Forfeited
Number of options, Expired (in Shares) \| shares		(8,334)
Weighted average exercise price, Expired		$ 9.12
Number of options, Options outstanding at end of year (in Shares) \| shares	103,152	47,152
Weighted average exercise price, Options outstanding at end of year	$ 6.64	$ 9.51
Number of options, Options exercisable at end of year (in Shares) \| shares	65,152	41,992
Weighted average exercise price, Options exercisable at end of year	$ 5.58	$ 6.32
Weighted average fair value of options granted during the year	$ 2.47

Stock-Based Compensation (Details) - Schedule of concerning the options granted to non-employees outstanding and exercisable - Non Employees [Member]	12 Months Ended
	Aug. 31, 2020 $ / shares shares
Stock-Based Compensation (Details) - Schedule of concerning the options granted to non-employees outstanding and exercisable [Line Items]
Number outstanding \| shares	103,152
Weighted Average Remaining Contractual Life	7 years 156 days
Aggregate intrinsic value \| $ / shares	$ 5.16
3.74-5.08 [Member]
Stock-Based Compensation (Details) - Schedule of concerning the options granted to non-employees outstanding and exercisable [Line Items]
Number outstanding \| shares	56,000
Weighted Average Remaining Contractual Life	9 years 109 days
Aggregate intrinsic value \| $ / shares	$ 4.22
6.00-7.36 [Member]
Stock-Based Compensation (Details) - Schedule of concerning the options granted to non-employees outstanding and exercisable [Line Items]
Number outstanding \| shares	47,152
Weighted Average Remaining Contractual Life	5 years 76 days
Aggregate intrinsic value \| $ / shares	$ 6.29

Stock-Based Compensation (Details) - Schedule of activities for unvested RSUs granted to employees and directors - shares	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Number of RSUs
Unvested at the beginning of period	164,636	165,796
Vested and issued		(290)
Forfeited		(870)
Outstanding at the end of the period	164,636	164,636
Vested and unissued	164,636	164,636

Financial Income and Expenses (Details) - Schedule of financial income - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of financial income [Abstract]
Income from interest on deposits	$ 552	$ 909
Income from interest on corporate bonds	138	152
Financial income	$ 690	$ 1,061

Financial Income and Expenses (Details) - Schedule of financial expenses - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of financial expenses [Abstract]
Exchange rate differences	$ 6	$ 14
Bank and broker commissions	6	4
Loss (gain) from securities, net	432	436
Other		31
Financial expenses	$ 444	$ 485

Taxes on Income (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Taxes on Income (Details) - USD ($) $ in Thousands	Dec. 22, 2017	Aug. 31, 2020	Aug. 31, 2019
Taxes on Income (Details) [Line Items]
Taxes on income			$ 300
Taxable income term		5 years
Domestic Tax Authority [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate		21.00%
Accumulated tax loss carryforward		$ 15,880	$ 13,013
Description corporate taxation		Under U.S. tax laws, subject to certain limitations, carryforward tax losses originating in tax years beginning after January 1, 2018, have no expiration date, but they are limited to 80% of the company's taxable income in any given tax year.
Carryforward tax losses expire		20 years
Net loss carryforward will expire years, Description		expire in the years 2027 through 2039.
Domestic Tax Authority [Member] \| Maximum [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate	35.00%
Domestic Tax Authority [Member] \| Minimum [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate	21.00%
Israel Tax Authority [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate		23.00%	23.00%
Accumulated tax loss carryforward		$ 57,900	$ 44,469

Taxes on Income (Details) - Schedule of deferred income taxes - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
Schedule of deferred income taxes [Abstract]
Net operating loss carryforward	$ 16,652	$ 13,239
Research and development expenses	2,740	2,999
Less - valuation allowance	(19,392)	(16,238)
Net deferred tax assets

Taxes on Income (Details) - Schedule of income taxes included in the income statements - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Loss before taxes on income:
U.S.	$ 2,868	$ 2,283
Outside U.S.	8,643	11,772
Loss before taxes on income	11,511	14,055
Taxes on income (tax benefit):
U.S.
Outside U.S.		300
Income tax expenses (benefit), Total		$ 300

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Taxes on Income (Details) - Schedule of reconciliation of income taxes - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of reconciliation of income taxes [Abstract]
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$ (11,511)	$ (14,055)
Statutory tax benefit	(2,417)	(2,952)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax	3,154	3,356
Disallowable deductions	135	86
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years	(872)	(490)
Withholding tax, see note 10d above		300
Uncertain tax position
Taxes on income for the reported year		$ 300

Taxes on Income (Details) - Schedule of unrecognized tax benefits activity - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Schedule of unrecognized tax benefits activity [Abstract]
Balance at Beginning of Year	$ 11	$ 11
Decrease in uncertain tax positions for the current year
Balance at End of Year	$ 11	$ 11

Taxes on Income (Details) - Schedule of valuation allowance rollforward - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Allowance in respect of carryforward tax losses:
Year ended August 31, 2020	$ 16,238	$ 12,882
Year ended August 31, 2020	3,154	3,356
Year ended August 31, 2020	$ 19,392	$ 16,238

Related parties - Transactions (Details) - USD ($)	1 Months Ended	12 Months Ended
Related parties - Transactions (Details) - USD ($)	Jul. 01, 2008	Aug. 31, 2020	Aug. 31, 2019
Related parties - Transactions (Details) [Line Items]
Directors fees		$ 95	$ 100
Chief Executive Officer [Member]
Related parties - Transactions (Details) [Line Items]
Consulting agreements, description	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 ($38) and NIS 92,522 ($28), respectively.
Professional fees	$ 38
Relocation expenses		$ 516	$ 486
Chief Scientific Officer [Member]
Related parties - Transactions (Details) [Line Items]
Professional fees	$ 28

Related parties - Transactions (Details) - Schedule of balances with related parties - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2019
KNRY [Member]
Related parties - Transactions (Details) - Schedule of balances with related parties [Line Items]
Accounts payable and accrued expenses - KNRY	$ 90	$ 64

Related parties - Transactions (Details) - Schedule of expenses to related parties - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
KNRY [Member]
Related parties - Transactions (Details) - Schedule of expenses to related parties [Line Items]
Expenses to related parties	$ 766	$ 730
Nadav Kidron (CEO) [Member]
Related parties - Transactions (Details) - Schedule of expenses to related parties [Line Items]
Expenses to related parties	$ 801	$ 785