0001213900-21-002235 | 10-Q | XBRL Viewer | Oramed Pharmaceuticals INC

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Nov. 30, 2020	Jan. 14, 2021
Document Information Line Items
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Document Type	10-Q
Current Fiscal Year End Date	--08-31
Entity Common Stock, Shares Outstanding		26,661,004
Amendment Flag	false
Entity Central Index Key	0001176309
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Nov. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	000-50298
Entity Interactive Data Current	Yes

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 14,931	$ 19,296
Short-term deposits	10,592	11,060
Marketable securities	8,825	9,544
Prepaid expenses and other current assets	1,676	611
Total current assets	36,024	40,511
LONG-TERM ASSETS:
Long-term deposits	2	2
Marketable securities	3,878	3,928
Amounts funded in respect of employee rights upon retirement	18	18
Property and equipment, net	409	99
Operating lease right-of-use assets	640	75
Total long-term assets	4,947	4,122
Total assets	40,971	44,633
CURRENT LIABILITIES:
Accounts payable and accrued expenses	2,808	1,699
Deferred revenues	2,703	2,703
Payable to related parties	93	90
Operating lease liabilities	138	44
Total current liabilities	5,742	4,536
LONG-TERM LIABILITIES:
Deferred revenues	6,273	6,947
Employee rights upon retirement	19	18
Provision for uncertain tax position	11	11
Operating lease liabilities	502	31
Other liabilities	212	211
Total long-term liabilities	7,017	7,218
COMMITMENTS (note 2)
STOCKHOLDERS’ EQUITY:
Common stock, $0.012 par value (60,000,000 authorized shares; 23,810,530 and 23,675,530 shares issued and outstanding as of November 30, 2020 and August 31, 2020, respectively)	286	284
Additional paid-in capital	126,110	125,209
Accumulated deficit	(98,184)	(92,614)
Total stockholders’ equity	28,212	32,879
Total liabilities and stockholders’ equity	$ 40,971	$ 44,633

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Nov. 30, 2020	Aug. 31, 2020
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	23,810,530	23,675,530
Common stock, shares outstanding	23,810,530	23,675,530

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Statement of Comprehensive Income [Abstract]
REVENUES	$ 674	$ 674
COST OF REVENUES
RESEARCH AND DEVELOPMENT EXPENSES	5,774	2,022
GENERAL AND ADMINISTRATIVE EXPENSES	727	1,081
OPERATING LOSS	5,827	2,429
FINANCIAL INCOME (EXPENSES), NET	257	(114)
NET LOSS FOR THE PERIOD	$ 5,570	$ 2,543
LOSS PER SHARE OF COMMON STOCK:
BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Dollars per share)	$ 0.23	$ 0.15
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Shares)	23,745,980	17,472,315

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

Common Stock

Additional paid-in capital

Accumulated deficit

Total

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)

EXERCISE OF WARRANTS AND OPTIONS

$ 1

EXERCISE OF WARRANTS AND OPTIONS (in Shares)

STOCK-BASED COMPENSATION

^[1]

280

NET LOSS

(2,543)

BALANCE at Nov. 30, 2019

$ 209

100,597

(83,646)

17,160

BALANCE (in Shares) at Nov. 30, 2019

17,400

BALANCE at Aug. 31, 2020

$ 284

125,209

(92,614)

32,879

BALANCE (in Shares) at Aug. 31, 2020

23,675

ISSUANCE OF COMMON STOCK, NET

$ 2

584

586

ISSUANCE OF COMMON STOCK, NET (in Shares)

135

STOCK-BASED COMPENSATION

^[1]

317

NET LOSS

(5,570)

BALANCE at Nov. 30, 2020

$ 286

$ 126,110

$ (98,184)

$ 28,212

BALANCE (in Shares) at Nov. 30, 2020

23,810

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

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,570)	$ (2,543)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	2
Exchange differences and interest on deposits and held to maturity bonds	(114)	(92)
Changes in fair value of investments	(162)	303
Stock-based compensation	317	280
Shares issued for services		17
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,104)	433
Accounts payable, accrued expenses and related parties	1,153	(714)
Deferred revenue	(675)	(675)
Liability for employee rights upon retirement	1	(5)
Total net cash used in operating activities	(6,152)	(2,996)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term deposits	(7,460)	(3,000)
Purchase of held to maturity securities	(658)
Purchase of corporate bonds designated as fair value	(1,004)
Proceeds from sale of short-term deposits	7,960	4,600
Proceeds from maturity of held to maturity securities	1,900	1,225
Proceeds from sale of mutual funds	775
Funds in respect of employee rights upon retirement	(1)	3
Purchase of property and equipment	(313)	(3)
Total net cash provided by investing activities	1,199	2,825
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs	586	1
Proceeds from exercise of options		12
Total net cash provided by financing activities	586	13
EFFECT OF EXCHANGE RATE CHANGES ON CASH	2	0
DECREASE IN CASH AND CASH EQUIVALENTS	(4,365)	(158)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	19,296	3,329
CASH AND CASH EQUIVALENTS AT END OF PERIOD	14,931	3,171
(A) SUPPLEMENTARY DISCLOSURE ON CASH FLOWS -
Interest received	92	112
(B) SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Right of use assets and lease liabilities recognition	$ 582

Significant Accounting Policies

3 Months Ended

Nov. 30, 2020

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES:

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES:

General:

Incorporation and operations

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

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

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

On July 30, 2019, the Subsidiary incorporated a wholly-owned subsidiary in Hong Kong, Oramed HK Limited (the “Hong Kong Subsidiary”). As of November 30, 2020, the Hong Kong Subsidiary has no operations.

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

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

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

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

As of November 30, 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 $6,000, out of which only an amount of $2,000 has been received and has been included in Deferred revenues in each of the consolidated balance sheets for the three months ended November 30, 2020 and for the fiscal years ended August 31, 2020, and 2019. 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.

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

For revenue recognition policy see note 1c.

Development and liquidity risks

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

Loss per common share

Basic and diluted net loss per common share are computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding for each period. Outstanding stock options, warrants and restricted stock units (“RSUs”) have been excluded from the calculation of the diluted loss per share because all such securities are anti-dilutive for all periods presented. The weighted average number of common stock options, warrants and RSUs excluded from the calculation of diluted net loss was 5,278,347 and 4,366,806 for the three month periods ended November 30, 2020 and 2019, respectively.

Revenue recognition

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

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

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

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

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

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

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

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

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

Amounts that were allocated to the License Agreement as of November 30, 2020 aggregated $22,382, all of which were received through the balance sheet date. Through November 30, 2020, the Company has recognized revenue associated with this agreement in the aggregate amount of $13,406, of which $674 was recognized in the quarter ended November 30, 2020, and deferred the remaining amount of $8,976 which is presented as deferred revenues on the condensed consolidated balance sheet.

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 to financial assets measured in fair value through profit or loss. The impact of this adoption on the Company’s accumulated losses as of the adoption date was $702.

Debt securities

During the three months ended November 30, 2020, a small portion of the debt securities, which were purchased by the Company were classified as corporate bonds designated as fair value due to the nature of such securities. As such, these securities are presented by their fair market value and not by their amortized cost as the rest of the debt securities are presented. For more information, please see note 4(e) below.

Condensed Consolidated Financial Statements Preparation

The condensed consolidated financial statements included herein have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and, on the same basis as the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2020 (the “2020 Form 10-K”). These condensed consolidated financial statements reflect all adjustments that are of a normal recurring nature and that are considered necessary for a fair statement of the results of the periods presented. Certain information and disclosures normally included in annual consolidated financial statements have been omitted in this interim period report pursuant to the rules and regulations of the Securities and Exchange Commission. Because the condensed consolidated interim financial statements do not include all of the information and disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in the 2020 Form 10-K. The results for interim periods are not necessarily indicative of a full fiscal year’s results.

Recently adopted standards

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which supersedes the existing guidance for lease accounting, Leases (Topic 840). The new standard requires a lessee to record assets and liabilities on its balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the lessee’s income statement. The Company adopted this standard as of September 1, 2019 on a modified retrospective basis and will not restate comparative periods. The Company elected the package of practical expedients permitted under the transition guidance within the new standard which, among other things, allows the Company to carry forward 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.

On September 1, 2019, the Company adopted 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. The adoption of this standard had no material impact on the Company’s consolidated financial statements.

Standards issued but 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.

Commitments

3 Months Ended

Nov. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

NOTE 2 - COMMITMENTS:

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

As part of this agreement, the Subsidiary entered into a patent transfer agreement (the “Patent Transfer Agreement”) according to which the Subsidiary assigned to Entera all of its right, title and interest in and to a certain patent application related to the oral administration of proteins that it has licensed to Entera since August 2010. Under this agreement, the Subsidiary is entitled to receive from Entera royalties of 3% of Entera’s net revenues (as defined in the agreement) and a license back of that patent application for use in respect of diabetes and influenza. As of November 30, 2020, Entera 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 the 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 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 November 30, 2020.

On August 2, 2020, the Subsidiary entered into a new lease agreement for its facilities in Israel. The new lease agreement is for 263 square meters and is for a period of 60 months commencing September 1, 2020. The Company has the option to extend the period by another 60 months. The annual lease payment, including management fee, is NIS 435,000 ($131). As security for its obligation under this lease agreement, the Company provided a bank guarantee in an amount equal to three monthly lease payments.

On 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 clinical research organization (“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 $2,381 was recognized in research and development expenses through November 30, 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 $1,294 was recognized in research and development expenses through November 30, 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 November 30, 2020 was $2,207 ($2,486 including interest).

The royalty expenses which are related to the funded project were recognized in cost of revenues in the quarter ended November 30, 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.

Fair Value

3 Months Ended

Nov. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE

NOTE 3 - FAIR VALUE:

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 November 30, 2020, the assets measured at fair value are comprised of equity securities (Level 1) and debt securities which are classified as corporate bonds designated as fair value (Level 2). The fair value of held to maturity bonds as presented in note 4 was based on a Level 2 measurement.

As of November 30, 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 November 30, 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 three month periods ended November 30, 2020 and 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Marketable Securities

3 Months Ended

Nov. 30, 2020

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

NOTE 4 - MARKETABLE SECURITIES:

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

Composition:

	November 30, 2020		August 31, 2020
Short-term:
D.N.A (see b below)	$	414	$	246
Entera (see c below)		144		150
Held to maturity bonds (see d below)		4,169		5,369
Corporate bonds designated as fair value (see e below)		1,082		-
Preferred equity		-		481
Mutual funds*		3,016		3,298
	$	8,825	$	9,544
Long-term:
Held to maturity bonds (see d below)	$	3,878	$	3,928
		12,703	$	13,472

* 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.

As of November 30, 2020, the Company owns approximately 5.5% of D.N.A’s outstanding ordinary shares.

The cost of the securities as of November 30, 2020 and August 31, 2020 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 securities

The amortized cost and estimated fair value of held-to-maturity securities as of November 30, 2020, are as follows:

	November 30, 2020
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	4,089	$	(15	)	$	4,074		2.37	%
Accrued interest		80		-			80

Long-term		3,878		6			3,884		2.34	%
	$	8,047	$	(9	)	$	8,038

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

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.

Corporate bonds designated as fair value

The cost and estimated fair value of corporate bonds designated as fair value securities as of November 30, 2020, are as follows:

	November 30, 2020
Amortized cost	$	1,086
Accrued Interest		12
Revaluation		(16	)
Estimated fair value	$	1,082

Stockholders' Equity

3 Months Ended

Nov. 30, 2020

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

NOTE 5 - STOCKHOLDERS’ EQUITY:

On September 5, 2019, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”), pursuant to which the Company could, 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 would 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 paid 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 November 30, 2020, 974,357 shares were issued under the Sales Agreement for aggregate net proceeds of $4,508. As of January 14, 2021, 3,212,621 shares were issued under the Sales Agreement for aggregate net proceeds of $14,397.

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.

On December 1, 2020, the Company entered into a new equity distribution agreement (the “New 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 $40,000, 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 dated February 10, 2020 and prospectus supplement dated December 1, 2020. 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 New Sales Agreement. As of January 14, 2021, 612,210 shares were issued under the New Sales Agreement for aggregate net proceeds of $2,557.

Leases

3 Months Ended

Nov. 30, 2020

Leases [Abstract]

LEASES

NOTE 6 - LEASES

The right-of-use asset and lease liability are initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate based on the information available at the date of adoption in determining the present value of the lease payments. The Company’s incremental borrowing rate is estimated to approximate the interest rate on similar terms and payments and in economic environments where the leased asset is located.

The Company has various operating leases for office space and vehicles that expire through 2025. Below is a summary of our operating right-of-use assets and operating lease liabilities as of November 30, 2020:

	November 30, 2020
Operating right-of-use assets	$	640

Operating lease liabilities, current		138
Operating lease liabilities long-term		502
Total operating lease liabilities	$	640

For more information about our office lease terms, please see note 2(c).

Minimum lease payments for the Company’s right-of-use assets over the remaining lease periods as of November 30, 2020 are as follows:

	November 30, 2020
2021	$	125
2022		163
2023		134
2024		132
2025		132
Total undiscounted lease payments		685
Less: Interest*		45
Present value of lease liabilities	$	640

Future lease payments were discounted by 3% interest rate.

Related Parties - Transactions

3 Months Ended

Nov. 30, 2020

RELATED PARTIES - TRANSACTIONS

NOTE 7 - RELATED PARTIES - TRANSACTIONS:

On July 1, 2008, the Subsidiary entered into two consulting agreements with KNRY Ltd. (“KNRY”), an Israeli company owned by the Chief Scientific Officer (the “CSO”), whereby the Chief Executive Officer (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 the performance of the Consulting Agreements and that the monthly consulting fee paid to the CEO and the CSO is NIS 127,570 ($39) 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 the three months ended November 30, 2020, such relocation expenses totaled $74, compared to $86 for the three months ended November 30, 2019.

Accounting Policies, by Policy (Policies)

3 Months Ended

Nov. 30, 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.

For revenue recognition policy see note 1c.

Development and liquidity risks

Loss per common share

b.	Loss per common share

Revenue recognition

c.	Revenue recognition

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

Marketable securities

d.	Marketable securities

Equity securities

Debt securities

Condensed Consolidated Financial Statements Preparation

e.	Condensed Consolidated Financial Statements Preparation

Recently adopted standards

f.	Recently adopted standards

Standards issued but not yet adopted

g.	Standards issued but not yet adopted

Marketable Securities (Tables)

3 Months Ended

Nov. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of marketable securities include investments in equity securities

	November 30, 2020		August 31, 2020
Short-term:
D.N.A (see b below)	$	414	$	246
Entera (see c below)		144		150
Held to maturity bonds (see d below)		4,169		5,369
Corporate bonds designated as fair value (see e below)		1,082		-
Preferred equity		-		481
Mutual funds*		3,016		3,298
	$	8,825	$	9,544
Long-term:
Held to maturity bonds (see d below)	$	3,878	$	3,928
		12,703	$	13,472

* Mutual funds include equity funds only

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

	November 30, 2020
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	4,089	$	(15	)	$	4,074		2.37	%
Accrued interest		80		-			80

Long-term		3,878		6			3,884		2.34	%
	$	8,047	$	(9	)	$	8,038

	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

Schedule of cost and estimated fair value of fair value through profit or loss securities

	November 30, 2020
Amortized cost	$	1,086
Accrued Interest		12
Revaluation		(16	)
Estimated fair value	$	1,082

Leases (Tables)

3 Months Ended

Nov. 30, 2020

Leases [Abstract]

Schedule of operating right-of-use assets and operating lease liabilities

	November 30, 2020
Operating right-of-use assets	$	640

Operating lease liabilities, current		138
Operating lease liabilities long-term		502
Total operating lease liabilities	$	640

Schedule of minimum lease payments for the company’s right-of-use assets

	November 30, 2020
2021	$	125
2022		163
2023		134
2024		132
2025		132
Total undiscounted lease payments		685
Less: Interest*		45
Present value of lease liabilities	$	640

Future lease payments were discounted by 3% interest rate.

Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Aug. 21, 2020	Dec. 28, 2015	Nov. 30, 2015	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020	Sep. 01, 2019	Jul. 31, 2015
Significant Accounting Policies (Details) [Line Items]
Royalty term				15 years
Milestone payment received				$ 20,500
Milestone payment, description				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.
Non-refundable amount								$ 500
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) (in Shares)				5,278,347	4,366,806
Adjusted accumulated deficit against contract liabilities				$ 1,773
Revenue recognition, description				the aggregate amount of $13,406, of which $674 was recognized in the quarter ended November 30, 2020, and deferred the remaining amount of $8,976 which is presented as deferred revenues on the condensed consolidated balance sheet.
Accumulated losses				$ 702
Operating lease asset				640		$ 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		$ 22,382
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 costs 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 $6,000, out of which only an amount of $2,000 has been received and has been included in Deferred revenues in each of the consolidated balance sheets for the three months ended November 30, 2020 and for the fiscal years ended August 31, 2020, and 2019. 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.
HTIT [Member] \| Stock Purchase Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued (in Shares) (in Shares)			1,155,367
Number of common stock issued			$ 12,000

Commitments (Details) - USD ($) $ in Thousands						1 Months Ended	3 Months Ended
Commitments (Details) - USD ($) $ in Thousands	Sep. 16, 2020	Sep. 02, 2020	Aug. 02, 2020	Dec. 11, 2018	Mar. 31, 2011	Dec. 18, 2017	Nov. 30, 2020	Feb. 15, 2011
Commitments (Details) [Line Items]
Aggregate payments receive				$ 270,000
Total amount received							$ 2,207
Total amount received including interest							$ 2,486
Grants from the European Commission, description							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.
Vendor Two [Member]
Commitments (Details) [Line Items]
Expense which was recognized							$ 2,381
Commitments for consulting services		$ 21,589
Vendor Three [Member]
Commitments (Details) [Line Items]
Expense which was recognized							1,294
Commitments for consulting services	$ 12,343
Vendor One [Member]
Commitments (Details) [Line Items]
Commitments for consulting services						$ 2,905
Expense which was recognized							$ 1,542
Office Facilities [Member]
Commitments (Details) [Line Items]
Lessee, description			The new lease agreement is for 263 square meters and is for a period of 60 months commencing September 1, 2020. The Company has the option to extend the period by another 60 months. The annual lease payment, including management fee, is NIS 435,000 ($131).
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%

Marketable Securities (Details)	3 Months Ended
Marketable Securities (Details)	Nov. 30, 2020 USD ($)
Investments, Debt and Equity Securities [Abstract]
Percentage of ownership interest	5.50%
Cost of securities	$ 595
Cost method investment	$ 1
Marketable securities maturity, term	12 months

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

Nov. 30, 2020

Aug. 31, 2020

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

D.N.A (see b below)

$ 414

$ 246

Entera (see c below)

144

150

Held to maturity bonds (see d below)

4,169

5,369

Corporate bonds designated as fair value (see e below)

1,082

Preferred equity

481

Mutual funds

^[1]

3,016

3,298

Marketable securities

8,825

9,544

Long-term:

Held to maturity bonds (see d below)

3,878

3,928

Total marketable securities, noncurrent

$ 12,703

$ 13,472

[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	3 Months Ended	12 Months Ended
	Nov. 30, 2020	Aug. 31, 2020
Short-term:
Amortized cost	$ 8,047	$ 9,297
Gross unrealized gains (losses)	(9)	27
Estimated fair value	8,038	9,324
Short-term [Member] \| Commercial bonds [Member]
Short-term:
Amortized cost	4,089	5,295
Gross unrealized gains (losses)	(15)	(29)
Estimated fair value	$ 4,074	$ 5,266
Average yield to maturity rate	2.37%	2.26%
Short-term [Member] \| Accrued interest [Member]
Short-term:
Amortized cost	$ 80	$ 74
Gross unrealized gains (losses)
Estimated fair value	80	74
Long-term [Member]
Short-term:
Amortized cost	3,878	3,928
Gross unrealized gains (losses)	6	56
Estimated fair value	$ 3,884	$ 3,984
Average yield to maturity rate	2.34%	2.20%

Marketable Securities (Details) - Schedule of cost and estimated fair value of fair value through profit or loss securities $ in Thousands	Nov. 30, 2020 USD ($)
Schedule of cost and estimated fair value of fair value through profit or loss securities [Abstract]
Amortized cost	$ 1,086
Accrued Interest	12
Revaluation	(16)
Estimated fair value	$ 1,082

Stockholders' Equity (Details) - USD ($)				1 Months Ended
Stockholders' Equity (Details) - USD ($)	Jan. 14, 2021	Dec. 01, 2020	Sep. 05, 2019	Nov. 30, 2020	Feb. 27, 2020
Stockholders' Equity (Details) [Line Items]
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.
Sale agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price			$ 15,000
Agent commission rate			3.00%
Shares, Issued (in Shares)				974,357
Aggregate net proceeds				$ 4,508
Sale agreement [Member] \| Subsequent Event [Member]
Stockholders' Equity (Details) [Line Items]
Shares, Issued (in Shares)	3,212,621
Aggregate net proceeds	$ 14,397
New sales agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price		$ 40,000
Agent commission rate		3.00%
New sales agreement [Member] \| Subsequent Event [Member]
Stockholders' Equity (Details) [Line Items]
Shares, Issued (in Shares)	612,210
Aggregate net proceeds	$ 2,557

Leases (Details)	3 Months Ended
Leases (Details)	Nov. 30, 2020
Disclosure Text Block [Abstract]
Lease term, description	The Company has various operating leases for office space and vehicles that expire through 2025.
Future lease payments , interest rate percentage	3.00%

Leases (Details) - Schedule of operating right-of-use assets and operating lease liabilities $ in Thousands	Nov. 30, 2020 USD ($)
Schedule of operating right-of-use assets and operating lease liabilities [Abstract]
Operating right-of-use assets	$ 640
Operating lease liabilities, current	138
Operating lease liabilities long-term	502
Total operating lease liabilities	$ 640

Leases (Details) - Schedule of minimum lease payments for the company’s right-of-use assets
$ in Thousands

Nov. 30, 2020

USD ($)

Schedule of minimum lease payments for the company’s right-of-use assets [Abstract]

$ 125

163

134

132

132

Total undiscounted lease payments

685

Less: Interest

^[1]

Present value of lease liabilities

$ 640

[1]	Future lease payments were discounted by 3% interest rate.

Related Parties - Transactions (Details) - Chief Executive Officer [Member] - USD ($)	1 Months Ended	3 Months Ended
	Jul. 01, 2008	Nov. 30, 2020	Nov. 30, 2019
Related Parties - Transactions (Details) [Line Items]
Consulting agreements, description	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 the performance of the Consulting Agreements and that the monthly consulting fee paid to the CEO and the CSO is NIS 127,570 ($39) and NIS 92,522 ($28), respectively.
Relocation expenses		$ 74	$ 86