0001213900-21-062009 | 10-K | XBRL Viewer | Oramed Pharmaceuticals INC

Print Document View Excel Document

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Aug. 31, 2021	Nov. 24, 2021	Feb. 28, 2021
Document Information Line Items
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Trading Symbol	ORMP
Document Type	10-K
Current Fiscal Year End Date	--08-31
Entity Common Stock, Shares Outstanding		38,086,020
Entity Public Float			$ 227,769,778
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, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-35813
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0376008
Entity Address, Address Line One	1185 Avenue of the Americas
Entity Address, Address Line Two	Third Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
Title of 12(b) Security	Common Stock, par value $0.012
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
City Area Code	844
Local Phone Number	967-2633

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 77,245	$ 19,296
Short-term deposits (note 2)	11,044	11,060
Marketable securities (note 3)	5,851	9,544
Prepaid expenses and other current assets	1,197	611
Total current assets	95,337	40,511
LONG-TERM ASSETS:
Long-term deposits (note 4)	25,016	2
Marketable securities (note 3)	6,692	3,928
Amounts funded in respect of employee rights upon retirement	24	18
Property and equipment, net	397	99
Operating lease right of use assets	533	75
Total long-term assets	32,662	4,122
Total assets	127,999	44,633
CURRENT LIABILITIES:
Accounts payable and accrued expenses (note 5)	3,792	1,699
Deferred revenues	2,703	2,703
Payable to related parties (note 11c)	54	90
Operating lease liabilities	130	44
Total current liabilities	6,679	4,536
LONG-TERM LIABILITIES:
Long-term deferred revenues	4,244	6,947
Employee rights upon retirement	21	18
Provision for uncertain tax position (note 10f)	11	11
Operating lease liabilities	403	31
Other liabilities	124	211
Total long-term liabilities	4,803	7,218
COMMITMENTS (note 6)
EQUITY ATTRIBUTABLE TO COMPANY’S STOCKHOLDERS’ :
Common stock, $ 0.012 par value (60,000,000 authorized shares as of August 31, 2021 and August 31, 2020; 35,293,889 and 23,675,530 shares issued and outstanding as of August 31, 2021 and 2020, respectively)	424	284
Additional paid-in capital	230,201	125,209
Accumulated deficit	(114,852)	(92,614)
Total stockholders’ equity	115,773	32,879
Non-controlling interests	744
Total equity	116,517	32,879
Total liabilities and equity	$ 127,999	$ 44,633

Consolidated Balance Sheets (Parentheticals) - $ / shares	Aug. 31, 2021	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	35,293,889	23,675,530
Common stock, shares outstanding	35,293,889	23,675,530

Consolidated Statements of Income or Loss - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Statement of Comprehensive Income [Abstract]
REVENUES	$ 2,703	$ 2,710
RESEARCH AND DEVELOPMENT EXPENSES	20,989	10,235
GENERAL AND ADMINISTRATIVE EXPENSES	5,937	4,232
OPERATING LOSS	24,223	11,757
FINANCIAL INCOME (note 9a)	1,242	690
FINANCIAL EXPENSES (note 9b)	8	444
NET LOSS	22,989	11,511
NET LOSS ATTRIBUTABLE TO:
COMPANY’S SHAREHOLDERS	22,238	11,511
NON-CONTROLLING INTERESTS	751
NET LOSS	$ 22,989	$ 11,511
BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Dollars per share)	$ 0.78	$ 0.56
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING BASIC AND DILUTED LOSS PER SHARE OF COMMON STOCK (in Shares)	28,469,068	20,532,347

Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands

Common Stock

Additional paid-in capital

Accumulated deficit

Total stockholders’ equity

Non- controlling interests

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)

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

ISSUANCE OF COMMON STOCK, NET

$ 102

79,881

79,983

ISSUANCE OF COMMON STOCK, NET (in Shares)

8,467

EXERCISE OF WARRANTS AND OPTIONS

$ 38

21,371

21,409

EXERCISE OF WARRANTS AND OPTIONS (in Shares)

3,151

STOCK-BASED COMPENSATION

2,695

ASSET ACQUISITION TRANSACTION

1,045

(751)

294

NET LOSS

(22,238)

1,495

(20,743)

BALANCE at Aug. 31, 2021

$ 424

$ 230,201

$ (114,852)

$ 115,773

$ 744

$ 116,517

BALANCE (in Shares) at Aug. 31, 2021

35,293

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

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (22,989)	$ (11,511)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	77	7
Non-cash expense for acquired In-Process Research & Development (or IPR&D)	1,040
Exchange differences and interest on deposits and held to maturity bonds	187	546
Changes in fair value of investments	(876)	1,173
Stock-based compensation	2,695	465
Shares issued for services		38
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(586)	431
Accounts payable, accrued expenses and related parties	2,060	(816)
Deferred revenues	(2,703)	(2,710)
Liability for employee rights upon retirement	3	(4)
Other liabilities	(89)	(59)
Total net cash used in operating activities	(21,181)	(12,440)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(375)	(82)
Investment in short-term deposits	(18,460)	(27,204)
Purchase of mutual funds		(3,750)
Investment in long-term deposits	(25,000)
Proceeds from sale of mutual funds	3,765
Purchase of held to maturity securities	(10,362)	(8,428)
Proceeds from redemption of short-term deposits	18,460	40,891
Proceeds from maturity of held to maturity securities	8,209	3,200
Funds in respect of employee rights upon retirement	(1)	(1)
Total net cash provided by (used in) investing activities	(23,764)	4,626
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs	79,983	23,773
Proceeds from exercise of warrants and options	21,409	13
Transaction with non-controlling interests	1,500
Total net cash provided by financing activities	102,892	23,786
EFFECT OF EXCHANGE RATE CHANGES ON CASH	2	(5)
INCREASE IN CASH AND CASH EQUIVALENTS	57,949	15,967
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	19,296	3,329
CASH AND CASH EQUIVALENTS AT END OF YEAR	77,245	19,296
(A) SUPPLEMENTARY DISCLOSURE ON CASH FLOWS:
Interest received	563	1,313
(B) SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Recognition of operating lease right of use assets and liabilities	582
(C) ASSET ACQUISITION TRANSACTION (see note 12):
IPR&D	1,040
Transaction with non-controlling interests	1,500
Additional paid in capital	(1,045)
Non-controlling interests	$ (1,495)

Significant Accounting Policies

12 Months Ended

Aug. 31, 2021

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, 2021, 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”). See note 6b.

On March 18, 2021, the Company entered into a license agreement (the “Oravax License Agreement”) and into the Stockholders Agreement (as defined below) with Oravax Medical Inc. (“Oravax”). According to the Stockholders Agreement, Oravax issued 1,890,000 shares of its capital stock to the Company, representing 63% of the issued and outstanding share capital of Oravax, on a fully diluted basis, as of the date of issuance. See note 12.

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.

	August 31, 2021
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		701		-		-		701
Entera		571		-		-		571
		1,272		-		-		1,272

	August 31, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		246		-		-		246
Entera		150		-		-		150
Mutual Funds		3,298		-		-		3,298
		3,694		-		-		3,694

As of August 31, 2021, 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, 2021, 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, 2021, 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.

Other than items related to the asset acquisition transaction of Oravax (see note 12), there were no Level 3 items measured at fair value for the fiscal 2021.

Marketable securities

Equity securities

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.

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.

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 Israeli 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.

Until fiscal 2019, the Israeli subsidiary has measured its results for tax purposes in nominal terms in NIS. In order to avoid unfavorable tax implications derived from the fluctuations in the exchange rate, the Israeli subsidiary's results for tax purposes are measured is U.S. dollars starting from fiscal 2020.

Taxes that would apply in the event of disposal of investments in the Israeli 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

The License Agreement and the SPA (as defined below) 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 Standard Codification, or ASC 606, the Company identified a single performance obligation in the agreement and determined that the license and services are not distinct as the license and services are highly dependent on each other. In other words, HTIT cannot benefit from the license without the related services, and vice versa.

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

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

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

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

Amounts that were allocated to the License Agreement as of August 31, 2021 aggregated $22,382, all of which was received through the balance sheet date. Through August 31, 2021, the Company recognized revenue associated with this agreement in the aggregate amount of $15,435 (of which $2,703 was recognized in the twelve-months period ended August 31, 2021), and deferred the remaining amount of $6,947, which is presented as a contract liability on the condensed consolidated balance sheet.

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 and RSUs 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.

The Company elects to account for forfeitures as they occur.

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 5,042,299 and 5,025,723 for the years ended August 31, 2021 and 2020, respectively.

Asset acquisition

When determining whether a transaction gives rise to an acquisition of a business or asset group, the Company applies a screening test to determine whether substantially all of the fair value of the gross assets acquired in the transaction is concentrated in a single identifiable asset or group of similar identifiable assets. If so, then the assets are not considered a business and the transaction is accounted for as an asset acquisition.

When a transaction is accounted for as an asset acquisition, an IPR&D asset is only capitalized if it has an alternative future use other than in a particular research and development project. Otherwise, amounts allocated to IPR&D that have no alternative use are expensed.

The Company has elected an accounting policy to measure non-controlling interests in an asset acquisition at fair value on the date of acquisition.

Leases

The Company leases real estate and cars for use in its operations, which are classified as operating leases. In addition to rent, the leases may require the Company to pay directly for fees, insurance, maintenance and other operating expenses.

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right of use assets and operating lease liabilities in the consolidated balance sheets. Right of use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of the lease payments. Lease expenses are recognized on a straight-line basis over the lease term.

The Company elected the short-term lease recognition exemption for all leases with a term shorter than 12 months. This means that for those leases, the Company does not recognize ROU assets or lease liabilities but recognizes lease expenses over the lease term on a straight line basis. The Company also elected the practical expedient to not separate lease and non-lease components for all of its leases.

Lease terms will include options to extend or terminate the lease when it is reasonably certain that the Company will either exercise or not exercise the option to renew or terminate the lease.

The Company’s lease agreements have remaining lease terms ranging from 1 year to 4 years. Some of these agreements include options to extend the leases for up to an additional 5 years and some include options to terminate the leases immediately. See also note 6h.

Recently issued Accounting Pronouncements, not yet adopted

In June 2016, the Financial Accounting Standards Board 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 is not expected to have a significant impact on the Company’s consolidated financial statements.

Short-Term Deposits

12 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

SHORT-TERM DEPOSITS

NOTE 2 - SHORT-TERM DEPOSITS:

Composition:

	August 31,
	2021					2020
	Annual interest rate			Amount		Annual interest rate			Amount
Dollar deposits		0.73-0.82	%	$	11,044		0.85-1.60	%	$	11,060

Marketable Securities

12 Months Ended

Aug. 31, 2021

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,
	2021		2020
Short-term:
D.N.A (see b below)	$	701	$	246
Entera (see c below)		571		150
Held to maturity bonds (see d below)		4,579		5,369
Preferred equity		-		481
Mutual funds*		-		3,298
	$	5,851	$	9,544

Long-term:
Held to maturity bonds (see d below)	$	6,692	$	3,928
	$	12,543	$	13,472

*	Mutual funds include equity funds only

b. 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, 2021 and 2020, the Company did not sell any of the D.N.A ordinary shares. As of August 31, 2021, the Company owns approximately 1.7% of D.N.A’s outstanding ordinary shares.

The cost of the securities as of August 31, 2021 and 2020 was $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. The cost of the securities as of August 31, 2021 and 2020 was $1.

Held to maturity bonds

The amortized cost and estimated fair value of held-to-maturity securities at August 31, 2021, are as follows:

	August 31, 2021
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	4,463	$	(98	)	$	4,365		1.73	%
Accrued interest		116		-			116

Long-term		6,692		610			7,302		1.08	%
	$	11,271	$	512		$	11,783

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

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

12 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

LONG-TERM DEPOSITS

NOTE 4 - LONG-TERM DEPOSITS:

	August 31,
	2021		2020
Composition:
Long-term deposits*	$	25,014		-
Lease car deposits	$	2		2
	$	25,016	$	2

Long term deposits include one deposit of $25,000 with an annual interest rate of 0.93% and a maturity date of August 10, 2023.

Accounts Payable and Accrued Expenses

12 Months Ended

Aug. 31, 2021

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 5 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Composition:
	August 31,
	2021		2020
Accounts payable	$	2,606	$	594
Payroll and related accruals		324		54
Institutions		39		19
Accrued liabilities		823		1,032
	$	3,792	$	1,699

Commitments

12 Months Ended

Aug. 31, 2021

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, 2021, 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.

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, 2021, 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 revenue in each of the consolidated balance sheets as of the fiscal years ended August 31, 2021, and 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. The Company determined that revenues are recognized over time through the expected product submission date in June 2023.

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.

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 $1,592 was recognized in research and development expenses through August 31, 2021.

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 III 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 $7,663 was recognized in research and development expenses through August 31, 2021.

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 III 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 $2,935 was recognized in research and development expenses through August 31, 2021.

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, 2021 was $2,207 ($2,505 including LIBOR). All grants were received before fiscal 2020 and recorded as a reduction of Research and development expenses at that time. As of August 31, 2021, the liability to the IIA was $243.

The royalty expenses which are related to the funded project were recognized in cost of revenues in the relevant periods.

Grants from the European Commission (“EC”)

During fiscal 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 of August 31, 2021, all amounts were recognized in the Company’s profit and loss statement.

Leases

On August 2, 2020, the Subsidiary entered into a lease agreement for its facilities in Israel. The lease agreement is for a period of 60 months commencing September 1, 2020. The Subsidiary has the option to extend the period for another 60 months. The annual lease payment, including management fees, as of August 31, 2021 is approximately NIS 435,000 ($136). As security for its obligation under this lease agreement, the Company provided a bank guarantee in an amount equal to three monthly lease payments.

The total expenses related to leases were $124 and $56 as of August 31, 2021 and 2020 respectively.

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 the Company’s operating right-of-use assets and operating lease liabilities as of August 31, 2021 and 2020:

	August 31, 2021			August 31, 2020
Operating right-of-use assets	$	533		$	75

Operating lease liabilities, current		130			44
Operating lease liabilities long-term		403			31
Total operating lease liabilities	$	533		$	75

Weighted Average of Remaining Lease Term
Operating leases		3.88			1.74

Weighted Average Discount Rate
Operating leases		3.00	%		3.00	%

Minimum lease payments for the Company’s right-of-use assets over the remaining lease periods as of August 31, 2021 are as follows:

	August 31, 2021

2022	$	156
2023		138
2024		136
2025		136
Total undiscounted lease payments		565
Less: Interest*		(32	)
Present value of lease liabilities	$	533

*	Future lease payments were discounted by 3% interest rate.

Stockholders' Equity

12 Months Ended

Aug. 31, 2021

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, 2021 and 2020:

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 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 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 were to 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 August 31, 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 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 $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 as supplemented by a prospectus supplement dated December 1, 2020. 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 New Sales Agreement. As of August 31, 2021, 4,061,956 shares were issued under the New Sales Agreement for aggregate net proceeds of $38,799.

On June 16, 2021, the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Canaccord Genuity LLC, as agent (“Canaccord Genuity”), pursuant to which the Company could issue and sell shares of its common stock having an aggregate offering price of up to $28,000 from time to time through Canaccord Genuity. The Equity Distribution Agreement replaced the New Sales Agreement, once it had been exhausted. 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 June 16, 2021. 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 Equity Distribution Agreement. As of August 31, 2021, 1,823,287 shares were issued under the Equity Distribution Agreement for aggregate net proceeds of $27,119.

On July 15, 2021, the Company entered into a new equity distribution agreement (the “New Equity Distribution Agreement”) with Canaccord Genuity, pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $100,000 from time to time through Canaccord Genuity. The New Equity Distribution Agreement replaced the Equity Distribution Agreement, once it had been exhausted. Any shares sold will be sold pursuant to the Company’s effective shelf registration statement on Form S-3 including a prospectus dated July 15, 2021. 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 New Equity Distribution Agreement. As of August 31, 2021 and through November 24, 2021, 208,451 and 273,997 shares were respectively issued under the New Equity Distribution Agreement for aggregate net proceeds of $3,884.

As of August 31, 2021, the Company had outstanding warrants exercisable commencing January 6, 2019 for 232,175 shares of common stock at exercise prices ranging from $4.13 to $7.8125 per share and expiring from January 6, 2022 to April 15, 2029.

The following table presents the warrant activity for the years ended August 31, 2021 and 2020:

	Year ended August 31,
	2021				2020
	Warrants		Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding at beginning of year		3,407,820	$	6.98		3,007,680	$	7.27
Issued		-	$	-		400,140	$	4.77
Exercised		3,175,645	$	7.07		-	$	-
Expired		-	$	-		-	$	-
Warrants outstanding at end of year		232,175	$	5.57		3,407,820	$	6.98
Warrants exercisable at end of year		232,175	$	5.57		3,407,820	$	6.98

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stock-Based Compensation

12 Months Ended

Aug. 31, 2021

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 or RSU 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 and RSUs is 10 years.

The following are the significant stock options and RSUs transactions with employees, board members and non-employees made during the years ended August 31, 2021 and 2020:

On September 11, 2019, the Company granted options to its Chief Operating and Business 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, 2021, 50,000 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 Operating and Business 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 four installments upon achievement of certain performance conditions. As of August 31, 2021, 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. As of August 31, 2021, 33,330 of such options are vested. 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 Company’s Chief Executive Officer, or CEO, and 100,000 to the Company’s Chief Scientific Officer, or CSO. The options shall vest in four equal annual installments, on each of December 31, 2020, 2021, 2022 and 2023. As of August 31, 2021, 72,500 of such options are vested. 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.

On February 3, 2021, the Company granted options to purchase an aggregate of 340,000 shares of common stock of the Company at an exercise price of $10.40 per share (equivalent to the closing price of the Company’s common stock on the date of grant) as follows: 150,000 to the CEO, 100,000 to the CSO, 40,000 to the Company’s former Chief Financial Officer and 50,000 to the Company’s Chief Operating & Business Officer. The options shall vest in four equal annual installments, on each of December 31, 2021, 2022, 2023 and 2024. These options expire on February 3, 2031. The fair value of all these options on the date of grant was $1,987, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $10.40; dividend yield of 0% for all years; expected volatility of 61.07%; risk-free interest rates of 0.64%; and expected term of 6.21 years.

On February 3, 2021, the Company granted a total of 680,000 RSUs as follows: 300,000 to the CEO, 200,000 to the CSO, 80,000 to the Company’s former Chief Financial Officer and 100,000 to the Company’s Chief Operating and Business Officer. These RSUs were granted under the Company’s 2019 Plan and shall vest as follows: 226,666 shall vest upon the Company’s common stock achieving a price per share of $15 during 20 days out of any 30-day trading period, 226,667 shall vest upon the Company’s common stock achieving a price per share of $25 during 20 days out of any 30-day trading period, and 226,667 upon achievement of a certain licensing agreement as specified by the Board of Directors. The total fair value of these RSUs on the date of the grant was $4,511, using the Monte-Carlo model.

On February 17, 2021, the Company granted options to purchase an aggregate of 15,000 shares of common stock of the Company at an exercise price of $11.33 per share (equivalent to the closing price of the Company’s common stock on the date of grant) to the chairman of the Board of Directors. The options shall vest in three equal annual installments, on each of December 31, 2021, 2022 and 2023. These options expire on February 17, 2031. The fair value of all these options on the date of grant was $98, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $11.33; dividend yield of 0% for all years; expected volatility of 64.39%; risk-free interest rates of 0.76%; and expected term of 5.94 years.

On February 17, 2021, the Company granted a total of 30,000 RSUs to the chairman of the Board of Directors. These RSUs were granted under the Company’s 2019 Plan and shall vest as follows: 10,000 shall vest upon the Company’s common stock achieving a price per share of $15 during 20 days out of any 30-day trading period, 10,000 shall vest upon the Company’s common stock achieving a price per share of $25 during 20 days out of any 30-day trading period, and 10,000 upon achievement of a certain licensing agreement as specified by the Board of Directors. The total fair value of these RSUs on the date of the grant was $217, using the Monte-Carlo model.

On August 4, 2021, the Company granted options to purchase an aggregate of 100,000 shares of common stock of the Company at an exercise price of $15.10 per share (equivalent to the closing price of the Company’s common stock on the date of grant) to the Chief Commercial Officer. The options shall vest as follows: 12,500 on December 31, 2021, three equal annual installments of 25,000 on each of December 31, 2022, 2023 and 2024 and 12,500 on August 4, 2025. These options expire on August 4, 2031. The fair value of all these options on the date of grant was $860, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $15.10; dividend yield of 0% for all years; expected volatility of 61.98%; risk-free interest rates of 0.82%; and expected term of 6.17 years.

On August 4, 2021, the Company granted a total of 100,000 RSUs to the Chief Commercial Officer. These RSUs were granted under the Company’s 2019 Plan and shall vest as follows: 33,333 shall vest upon the Company’s common stock achieving a price per share of $15 during 20 days out of any 30-day trading period, 33,333 shall vest upon the Company’s common stock achieving a price per share of $25 during 20 days out of any 30-day trading period, and 33,334 upon achievement of a certain licensing agreement as specified by the Board of Directors. The total fair value of these RSUs on the date of the grant was $985, using the Monte-Carlo model.

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,
	2021		2020
Expected option life (years)		5.94-6.21		5.74-6.24
Expected stock price volatility (%)		61.07-64.39		57.77-68.14
Risk free interest rate (%)		0.64-0.82		1.67-1.89
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, 2021 and 2020, and changes during the years ended on those dates, is presented below:

	Year ended August 31,
	2021					2020
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$
Options outstanding at beginning of year		1,597,149			5.47		1,264,645			6.11
Changes during the year:
Granted		455,000			11.46		943,646			3.98
Forfeited		(52,584	)		7.78		(392,646	)		3.79
Expired		-			-		(206,243	)		6.02
Exercised		(93,782	)		6.42		(12,253			1.00
Options outstanding at end of year		1,905,783			6.79		1,597,149			5.47
Options exercisable at end of year		859,447					687,024
Weighted average fair value of options granted during the year	$	6.47				$	2.79

Expenses recognized in respect of stock options granted to employees and directors, for the years ended August 31, 2021 and 2020 were $1,409 and $1,086, respectively.

The total intrinsic value of employees’ options exercised during the year ended August 31, 2021 was $1,287 and $27 during the year ended August 31, 2020.

The following table presents summary information concerning the options granted to employees and directors outstanding as of August 31, 2021:

Exercise prices	Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price
$			Years		$
1.00 to 6.00		1,064,084		7.01		3.98
6.23 to 9.12		306,781		6.11		7.94
10.40 to 15.10		534,918		8.12		11.73
		1,905,783		7.18		6.79

859,447 options granted to employees and directors that were outstanding as of August 31, 2021 were also exercisable as of August 31, 2021, compared to 687,024 as of August 31, 2020.

As of August 31, 2021, there were $2,598 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 1.3 years.

A summary of the status of the stock options granted to non-employees outstanding as of August 31, 2021 and 2020, and changes during the years ended on those dates, is presented below:

	Year ended August 31,
	2021					2020
	Number of options			Weighted average exercise price		Number of options		Weighted average exercise price
				$				$
Options outstanding at beginning of year		103,152			6.64		47,152		9.51
Changes during the year:
Granted		-			-		56,000		4.21
Exercised		(10,000	)		7.36		-		-
Forfeited		-			-		-		-
Expired		(37,152	)		6.00		-		-
Options outstanding at end of year		56,000			4.22		103,152		6.64
Options exercisable at end of year		46,000			4.03		65,152		5.58
Weighted average fair value of options granted during the year	$	-				$	2.47

The Company recorded stock-based compensation of $22 and $87 during the years ended August 31, 2021 and 2020, respectively, related to non-employees’ awards.

10,000 options were exercised by non-employees during the year ended August 31, 2021 for a total intrinsic value of $100 while no options were exercised by non-employees during the year ended August 31, 2020.

The following table presents summary information concerning the options granted to non-employees outstanding as of August 31, 2021:

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$				Years		$
	3.74-5.08		56,000		8.30		4.22

46,000 options granted to non-employees that were outstanding as of August 31, 2021, were also exercisable as of August 31, 2021.

As of August 31, 2021, there were $2 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 0.17 years.

Restricted stock units

The following table summarizes the activities for unvested RSUs granted to employees and directors for the years ended August 31, 2021 and 2020:

	Year ended August 31,
	2021			2020
	Number of RSUs
Vested and unissued at the beginning of period		164,636			164,636
Granted		810,000			-
Forfeited		(53,334	)		-
Outstanding at the end of the period		921,302			164,636
Vested		236,665			-
Vested and unissued		401,301			164,636

The Company recorded compensation expenses related to RSUs of $1,265 for the year ended August 31, 2021. During the year ended August 31, 2020, the Company did not record expense or income related to RSUs.

As of August 31, 2021, there were unrecognized compensation costs of $4,201 related to RSUs. The unrecognized compensation costs are expected to be recognized over a weighted average period of 1.06 years.

Financial Income and Expenses

12 Months Ended

Aug. 31, 2021

Other Income and Expenses [Abstract]

FINANCIAL INCOME AND EXPENSES

NOTE 9 - FINANCIAL INCOME AND EXPENSES

Financial income

	Year ended August 31,
	2021		2020
Income from interest on deposits	$	130	$	552
Income from interest on corporate bonds		217		138
Gain from securities, net		6		-
Revaluation of securities, net		889		-
	$	1,242	$	690

Financial expenses

	Year ended August 31,
	2021		2020
Exchange rate differences, net	$	2	$	6
Bank and broker commissions		5		6
Loss from securities, net		-		432
Other		1		-
	$	8	$	444

Taxes on Income

12 Months Ended

Aug. 31, 2021

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 Israeli subsidiary.

Corporate taxation in the U.S.

The applicable corporate tax rate for the Company is 21%.

As of August 31, 2021, the Company has an accumulated tax loss carryforward of approximately $19,159 (as of August 31, 2020, $15,880). 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 rate applicable to 2021 and 2020 is 23%.

As of August 31, 2021, the Subsidiary has an accumulated tax loss carryforward of approximately $73,762 (as of August 31, 2020, approximately $57,900). Under the Israeli tax laws, carryforward tax losses have no expiration date.

Deferred income taxes:

	August 31,
	2021			2020
In respect of:
Net operating loss carryforward	$	21,196		$	16,652
Research and development expenses		3,877			2,740
Less - valuation allowance		(25,073	)		(19,392	)
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.

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

	Year ended August 31,
	2021		2020
Loss before taxes on income:
U.S.	$	5,307	$	2,868
Outside U.S.		17,682		8,643
	$	22,989	$	11,511
Taxes on income (tax benefit):
Current:
U.S.		-		-
Outside U.S.		-		-
	$	-	$	-

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,
	2021			2020
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(22,989	)	$	(11,511	)

Statutory tax benefit		(4,828	)		(2,417	)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		4,872			3,154
Disallowable deductions		310			135
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years		(354	)		(872	)
Withholding tax, see note 10d above		-			-
Uncertain tax position		-			-
Taxes on income for the reported year	$	-		$	-

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,
	2021		2020
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, 2021	$	19,392	$	5,681	$	25,073
Year ended August 31, 2020		16,238		3,154		19,392

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Related Parties - Transactions

12 Months Ended

Aug. 31, 2021

RELATED PARTIES - TRANSACTIONS:

NOTE 11 - RELATED PARTIES - TRANSACTIONS:

During each of the fiscal years of 2021 and 2020, the Company paid to directors $100 and $95, 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 ($40) and NIS 92,522 ($29), respectively.

Starting September 1, 2021, the CEO receives a monthly consulting fee of NIS 146,705 ($46) and the CSO receives a monthly consulting fee of NIS 106,400 ($33)

In addition to the Consulting Agreements, based on a relocation cost analysis, 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 2021 and 2020, such relocation expenses totaled $377 and $516, respectively.

Balances with related parties:

	August 31,
	2021		2020
Accounts payable and accrued expenses - KNRY	$	54	$	90

Expenses to related parties:

	Year ended August 31,
	2021		2020
KNRY	$	872	$	766
Nadav Kidron (CEO)	$	687		801

Asset Acquisition Transaction

12 Months Ended

Aug. 31, 2021

Asset Acquisition [Abstract]

ASSET ACQUISITION TRANSACTION

NOTE 12 - ASSET ACQUISITION TRANSACTION

On March 18, 2021, the Company entered into the Oravax License Agreement and into the Stockholders Agreement (as defined below) with Oravax. On that date, Oravax’s assets were (1) in process research and development of COVID-19 vaccine technology; and (2) $1,500 received in cash. According to the Stockholders Agreement, Oravax issued 1,890,000 shares of its capital stock to the Company, representing 63% of the issued and outstanding share capital of Oravax, on a fully diluted basis, as of the date of issuance. Consequently, the Company is consolidating Oravax in its consolidated financial statements as from the inception of Oravax. In addition, under the terms of the Oravax License Agreement, the Company has licensed out to Oravax certain patent rights, know-how and information related to the Company’s oral drug delivery technology with respect to the combination with the COVID-19 vaccine technology (the “Licensed IP”).

In consideration for the grant of the License, the Oravax License Agreement provides that the Company will receive (i) royalties equal to 7.5% on net sales, as defined in the Oravax License Agreement, of each product commercialized by Oravax, its affiliates and permitted sublicensees related to the License during the term specified in the Oravax License Agreement, (ii) sublicensing fees equal to 15% of any non-sales-based consideration received by Oravax from a permitted sublicensee and (iii) other payments ranging between $25,000 to $100,000, based on certain sales milestones being achieved by Oravax. The parties further agreed to establish a development and steering committee, which will consist of three members, of which two members will be appointed by the Company, that will oversee the ongoing research, development, clinical and regulatory activity with respect to the Oravax Product. Akers Biosciences Inc. (“Akers”) contributed Oravax $1,500 in cash and a license agreement to the Oravax Product which includes a maximum of 2.5% royalties of all net sales.

Concurrently with the execution and delivery of the Oravax License Agreement, the Company entered into a Stockholders Agreement (the “Stockholders Agreement”), with Akers, Premas Biotech Pvt. Ltd. (“Premas”), Cutter Mill Capital LLC (“Cutter Mill”), and Run Ridge LLC (“Run Ridge”), entities controlled by Michael Vasinikovich and Craig Schwabe, former members of Cystron, and collectively with Akers, Premas, Cutter Mill and Run Ridge, the Stockholders Parties. Pursuant to the Stockholders Agreement, among other things, the Company will have the right to appoint two out of the three members to the board of directors of Oravax (the “Oravax Board”), one of which is the Company’s Chief Executive Officer who will serve as the chairman of the Oravax Board, conditioned upon the Company maintaining certain ownership thresholds. Akers will have the right, until the third anniversary of the Stockholders Agreement effective date, to appoint one member to the Oravax Board. Oravax’s common stock held by the Stockholders Parties will be subject to certain transfer restrictions. In addition, the Stockholders Parties will have certain rights of participation in future financings as well as rights of first refusal and co-sale related to future potential transactions.

According to ASC 805, the transaction was accounted for as an asset acquisition. No gain or loss was recognized on the transfer of the cash or the Licensed IP to Oravax while the Company retained control of those assets. The Company has recognized an increase in non-controlling interests of $1,495 based on the carrying amount of the contributed assets and, according to the Company’s accounting policy, the fair value of Oravax excluding the contributed assets. Any difference between the fair value of consideration paid and the increase in the non-controlling interests’ carrying amount was recognized in equity. As a result of the acquisition, the Company recognized IPR&D expense in the amount of $1,040.

Subsequent Events

12 Months Ended

Aug. 31, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 13 - SUBSEQUENT EVENTS

On September 1, 2021, the Company granted options to its Chief Financial Officer to purchase an aggregate of 50,000 shares of common stock of the Company at an exercise price of $20.19 per share. The options shall vest in four equal installments of 12,500 options on each of June 27, 2022, June 27, 2023, June 27, 2024 and June 27, 2025. In addition, The Company granted 50,000 RSUs that shall vest as follows:

33,333 if the closing price per share of the Company’s common stock will be at least $25 for at least 20 days out of any 30-trading day period; and

	1.	If the first condition is met anytime before June 27, 2022, then the RSUs will vest in three equal installments (on June 27, 2022, June 27, 2023 and June 27, 2024).

	2.	If the first condition is met anytime between June 27, 2022 and June 27, 2023, then 1/3 of the RSUs will vest immediately, and the remainder will vest in two equal installments (on June 27, 2023 and June 27, 2024).

	3.	If the first condition is met anytime between June 27, 2023 and June 27, 2024, then 2/3 of the RSUs will vest immediately, and the remaining 1/3 will vest on June 27, 2024).

If the first condition is met anytime after June 27, 2024, then the RSUs will vest immediately.

16,667 upon achievement of a certain licensing agreement as specified by the Board of Directors; and

	1.	If the first condition is met anytime before June 27, 2022, then the RSUs will vest in three equal installments (on June 27, 2022, June 27, 2023 and June 27, 2024).

	2.	If the first condition is met anytime between June 27, 2022 and June 27, 2023, then 1/3 of the RSUs will vest immediately, and the remainder will vest in two equal installments (on June 27, 2023 and June 27, 2024).

	3.	If the first condition is met anytime between June 27, 2023 and June 27, 2024, then 2/3 of the RSUs will vest immediately, and the remaining 1/3 will vest on June 27, 2024).

If the first condition is met anytime after June 27, 2024, then the RSUs will vest immediately.

These options and RSUs expire on September 1, 2031.

The total value of the options and RSUs is $1,572.

On September 1, 2021, the Company entered into a controlled equity offering agreement, or the Cantor Equity Distribution Agreement, with Cantor Fitzgerald & Co., as agent (“Cantor Fitzgerald”), pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $100,000 from time to time through Cantor Fitzgerald. As of November 24, 2021, 565,120 shares issued under the Cantor Equity Distribution Agreement for aggregate net proceeds of $12,298.

On November 3, 2021, the Company entered into a securities purchase agreement with several institutional and accredited investors, or the Purchasers, pursuant to which the Company agreed to sell, in a registered direct offering, or the Offering, an aggregate of 2,000,000 shares of the Company’s common stock, or the Shares, to the Purchasers for an offering price of $25 per Share. The closing of the sale of the Shares occurred on November 5, 2021. The net proceeds to the Company from the Offering, after deducting the placement agent’s fees and expenses and the Company’s estimated Offering expenses, were approximately $46,375.

All other schedules for which provision is made in the applicable accounting regulations of the SEC are not required under the related instructions, or are inapplicable, and therefore have been omitted.

Accounting Policies, by Policy (Policies)

12 Months Ended

Aug. 31, 2021

Accounting Policies [Abstract]

General

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.

Development and liquidity risks

Basis of presentation

b.Basis of presentationThe 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

Use of estimates in the preparation of financial statements

Functional currency

Functional currency

Principles of consolidation

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

Cash equivalents

Fair value measurement

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.

	August 31, 2021
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		701		-		-		701
Entera		571		-		-		571
		1,272		-		-		1,272

	August 31, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		246		-		-		246
Entera		150		-		-		150
Mutual Funds		3,298		-		-		3,298
		3,694		-		-		3,694

As of August 31, 2021, 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, 2021, 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.

Other than items related to the asset acquisition transaction of Oravax (see note 12), there were no Level 3 items measured at fair value for the fiscal 2021.

Marketable securities

Marketable securities

Equity securities

Held to maturity securities

Concentration of credit risks

Concentration of credit risks

Income taxes

Income taxes

Deferred taxes

Uncertainty in income tax

Revenue recognition

Revenue recognition

Cost of revenues

Research and development

Stock-based compensation

Stock-based compensation

The Company elects to account for forfeitures as they occur.

Loss per common share

Loss per common share

Asset acquisition

Asset acquisition

The Company has elected an accounting policy to measure non-controlling interests in an asset acquisition at fair value on the date of acquisition.

Leases

Leases

Lease terms will include options to extend or terminate the lease when it is reasonably certain that the Company will either exercise or not exercise the option to renew or terminate the lease.

Recently issued Accounting Pronouncements

Recently issued Accounting Pronouncements, not yet adopted

Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2021

Accounting Policies [Abstract]

Schedule of fair value measurement

	August 31, 2021
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		701		-		-		701
Entera		571		-		-		571
		1,272		-		-		1,272

	August 31, 2020
	Level 1		Level 2		Level 3		Fair Value
Assets:
Marketable Securities
D.N.A		246		-		-		246
Entera		150		-		-		150
Mutual Funds		3,298		-		-		3,298
		3,694		-		-		3,694

Short-Term Deposits (Tables)

12 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

Schedule of short-term deposits

	August 31,
	2021					2020
	Annual interest rate			Amount		Annual interest rate			Amount
Dollar deposits		0.73-0.82	%	$	11,044		0.85-1.60	%	$	11,060

Marketable Securities (Tables)

12 Months Ended

Aug. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of marketable securities include investments in equity securities

	August 31,
	2021		2020
Short-term:
D.N.A (see b below)	$	701	$	246
Entera (see c below)		571		150
Held to maturity bonds (see d below)		4,579		5,369
Preferred equity		-		481
Mutual funds*		-		3,298
	$	5,851	$	9,544

Long-term:
Held to maturity bonds (see d below)	$	6,692	$	3,928
	$	12,543	$	13,472

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

	August 31, 2021
	Amortized cost		Gross unrealized gains (losses)			Estimated fair value		Average yield to maturity rate
Short-term:
Commercial bonds	$	4,463	$	(98	)	$	4,365		1.73	%
Accrued interest		116		-			116

Long-term		6,692		610			7,302		1.08	%
	$	11,271	$	512		$	11,783

	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

Long-Term Deposits (Tables)

12 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-Term Deposits

	August 31,
	2021		2020
Composition:
Long-term deposits*	$	25,014		-
Lease car deposits	$	2		2
	$	25,016	$	2

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Aug. 31, 2021

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued expenses

Composition:
	August 31,
	2021		2020
Accounts payable	$	2,606	$	594
Payroll and related accruals		324		54
Institutions		39		19
Accrued liabilities		823		1,032
	$	3,792	$	1,699

Commitments (Tables)

12 Months Ended

Aug. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of operating leases for office space and vehicles

	August 31, 2021			August 31, 2020
Operating right-of-use assets	$	533		$	75

Operating lease liabilities, current		130			44
Operating lease liabilities long-term		403			31
Total operating lease liabilities	$	533		$	75

Weighted Average of Remaining Lease Term
Operating leases		3.88			1.74

Weighted Average Discount Rate
Operating leases		3.00	%		3.00	%

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

	August 31, 2021

2022	$	156
2023		138
2024		136
2025		136
Total undiscounted lease payments		565
Less: Interest*		(32	)
Present value of lease liabilities	$	533

Stockholders' Equity (Tables)

12 Months Ended

Aug. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of warrant activity

	Year ended August 31,
	2021				2020
	Warrants		Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding at beginning of year		3,407,820	$	6.98		3,007,680	$	7.27
Issued		-	$	-		400,140	$	4.77
Exercised		3,175,645	$	7.07		-	$	-
Expired		-	$	-		-	$	-
Warrants outstanding at end of year		232,175	$	5.57		3,407,820	$	6.98
Warrants exercisable at end of year		232,175	$	5.57		3,407,820	$	6.98

Stock-Based Compensation (Tables)

12 Months Ended

Aug. 31, 2021

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,
	2021		2020
Expected option life (years)		5.94-6.21		5.74-6.24
Expected stock price volatility (%)		61.07-64.39		57.77-68.14
Risk free interest rate (%)		0.64-0.82		1.67-1.89
Expected dividend yield (%)		0.0		0.0

Schedule of stock options granted to employees and directors

	Year ended August 31,
	2021					2020
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$
Options outstanding at beginning of year		1,597,149			5.47		1,264,645			6.11
Changes during the year:
Granted		455,000			11.46		943,646			3.98
Forfeited		(52,584	)		7.78		(392,646	)		3.79
Expired		-			-		(206,243	)		6.02
Exercised		(93,782	)		6.42		(12,253			1.00
Options outstanding at end of year		1,905,783			6.79		1,597,149			5.47
Options exercisable at end of year		859,447					687,024
Weighted average fair value of options granted during the year	$	6.47				$	2.79

Schedule of options granted to employees and directors outstanding

Exercise prices	Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price
$			Years		$
1.00 to 6.00		1,064,084		7.01		3.98
6.23 to 9.12		306,781		6.11		7.94
10.40 to 15.10		534,918		8.12		11.73
		1,905,783		7.18		6.79

Schedule of stock options granted to non-employees outstanding

	Year ended August 31,
	2021					2020
	Number of options			Weighted average exercise price		Number of options		Weighted average exercise price
				$				$
Options outstanding at beginning of year		103,152			6.64		47,152		9.51
Changes during the year:
Granted		-			-		56,000		4.21
Exercised		(10,000	)		7.36		-		-
Forfeited		-			-		-		-
Expired		(37,152	)		6.00		-		-
Options outstanding at end of year		56,000			4.22		103,152		6.64
Options exercisable at end of year		46,000			4.03		65,152		5.58
Weighted average fair value of options granted during the year	$	-				$	2.47

Schedule of concerning the options granted to non-employees outstanding

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$				Years		$
	3.74-5.08		56,000		8.30		4.22

Schedule of activities for unvested RSUs granted to employees and directors

	Year ended August 31,
	2021			2020
	Number of RSUs
Vested and unissued at the beginning of period		164,636			164,636
Granted		810,000			-
Forfeited		(53,334	)		-
Outstanding at the end of the period		921,302			164,636
Vested		236,665			-
Vested and unissued		401,301			164,636

Financial Income and Expenses (Tables)

12 Months Ended

Aug. 31, 2021

Other Income and Expenses [Abstract]

Schedule of financial income

	Year ended August 31,
	2021		2020
Income from interest on deposits	$	130	$	552
Income from interest on corporate bonds		217		138
Gain from securities, net		6		-
Revaluation of securities, net		889		-
	$	1,242	$	690

Schedule of financial expenses

	Year ended August 31,
	2021		2020
Exchange rate differences, net	$	2	$	6
Bank and broker commissions		5		6
Loss from securities, net		-		432
Other		1		-
	$	8	$	444

Taxes on Income (Tables)

12 Months Ended

Aug. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of deferred income taxes

	August 31,
	2021			2020
In respect of:
Net operating loss carryforward	$	21,196		$	16,652
Research and development expenses		3,877			2,740
Less - valuation allowance		(25,073	)		(19,392	)
Net deferred tax assets	$	-		$	-

Schedule of loss before taxes on income and income taxes included in the income statements of operations

	Year ended August 31,
	2021		2020
Loss before taxes on income:
U.S.	$	5,307	$	2,868
Outside U.S.		17,682		8,643
	$	22,989	$	11,511
Taxes on income (tax benefit):
Current:
U.S.		-		-
Outside U.S.		-		-
	$	-	$	-

Schedule of reconciliation of income taxes

	Year ended August 31,
	2021			2020
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(22,989	)	$	(11,511	)

Statutory tax benefit		(4,828	)		(2,417	)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		4,872			3,154
Disallowable deductions		310			135
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years		(354	)		(872	)
Withholding tax, see note 10d above		-			-
Uncertain tax position		-			-
Taxes on income for the reported year	$	-		$	-

Schedule of unrecognized tax benefits

	Year ended August 31,
	2021		2020
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, 2021	$	19,392	$	5,681	$	25,073
Year ended August 31, 2020		16,238		3,154		19,392

Related Parties - Transactions (Tables)

12 Months Ended

Aug. 31, 2021

Schedule of balances with related parties

	August 31,
	2021		2020
Accounts payable and accrued expenses - KNRY	$	54	$	90

Schedule of expenses to related parties

	Year ended August 31,
	2021		2020
KNRY	$	872	$	766
Nadav Kidron (CEO)	$	687		801

Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 28, 2015	Aug. 31, 2021	Aug. 31, 2020	Mar. 18, 2021
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued		$ 22,382
Recognized revenue aggregate amount		15,435
Deferred revenue recognized		2,703	$ 2,703
Deferred revenue recognized remaining amount		$ 6,947
Number of shares excluded from diluted net loss (in Shares)		5,042,299	5,025,723
Lessee Operating Lease Remaining Lease Term		5 years
License Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Total consideration	$ 49,500
Number of common stock issued	38,883
Stock Purchase Agreement [Member]
Significant Accounting Policies (Details) [Line Items]
Number of common stock issued	10,617
issuance expenses	$ 23
HTIT [Member]
Significant Accounting Policies (Details) [Line Items]
Oravax issued (in Shares)				1,890,000
Capital stock percentage				63.00%
Minimum [Member]
Significant Accounting Policies (Details) [Line Items]
Lessee Operating Lease Remaining Lease Terms		1 year
Maximum [Member]
Significant Accounting Policies (Details) [Line Items]
Lessee Operating Lease Remaining Lease Term		4 years

Significant Accounting Policies (Details) - Schedule of fair value measurement - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
Marketable Securities
Marketable Securities	$ 1,272	$ 3,694
D.N.A [Member]
Marketable Securities
Marketable Securities	701	246
Entera [Member]
Marketable Securities
Marketable Securities	571	150
Mutual Funds [Member]
Marketable Securities
Marketable Securities		3,298
Level 1 [Member]
Marketable Securities
Marketable Securities	1,272	3,694
Level 1 [Member] \| D.N.A [Member]
Marketable Securities
Marketable Securities	701	246
Level 1 [Member] \| Entera [Member]
Marketable Securities
Marketable Securities	571	150
Level 1 [Member] \| Mutual Funds [Member]
Marketable Securities
Marketable Securities		3,298
Level 2 [Member]
Marketable Securities
Marketable Securities
Level 2 [Member] \| D.N.A [Member]
Marketable Securities
Marketable Securities
Level 2 [Member] \| Entera [Member]
Marketable Securities
Marketable Securities
Level 2 [Member] \| Mutual Funds [Member]
Marketable Securities
Marketable Securities
Level 3 [Member]
Marketable Securities
Marketable Securities
Level 3 [Member] \| D.N.A [Member]
Marketable Securities
Marketable Securities
Level 3 [Member] \| Entera [Member]
Marketable Securities
Marketable Securities
Level 3 [Member] \| Mutual Funds [Member]
Marketable Securities
Marketable Securities

Short-Term Deposits (Details) - Schedule of short-term deposits - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
Short-term Debt [Line Items]
Dollar deposits Amount (in Dollars)	$ 11,044	$ 11,060
Minimum [Member]
Short-term Debt [Line Items]
Annual interest rate	0.73%	0.85%
Maximum [Member]
Short-term Debt [Line Items]
Annual interest rate	0.82%	1.60%

Marketable Securities (Details) - USD ($) $ in Thousands	12 Months Ended
Marketable Securities (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Aug. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity Method Investment, Ownership Percentage		1.70%
Cost of securities	$ 595	$ 595
Cost method investments	$ 1	$ 1
Marketable securities maturity term	12 months

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

Aug. 31, 2021

Aug. 31, 2020

Short-term:

D.N.A (see b below)

$ 701

$ 246

Entera (see c below)

571

150

Held to maturity bonds (see d below)

4,579

5,369

Preferred equity

481

Mutual funds

^[1]

3,298

Marketable securities

5,851

9,544

Long-term:

Held to maturity bonds (see d below)

6,692

3,928

Total marketable securities, non current

$ 12,543

$ 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	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Short-term:
Amortized cost	$ 11,271	$ 9,297
Gross unrealized gains (losses)	512	27
Estimated fair value	11,783	9,324
Short Term [Member] \| Commercial Bonds [Member]
Short-term:
Amortized cost	4,463	5,295
Gross unrealized gains (losses)	(98)	(29)
Estimated fair value	$ 4,365	$ 5,266
Average yield to maturity rate	1.73%	2.26%
Short Term [Member] \| Accrued Interest [Member]
Short-term:
Amortized cost	$ 116	$ 74
Estimated fair value	116	74
Long Term [Member]
Short-term:
Amortized cost	6,692	3,928
Gross unrealized gains (losses)	610	56
Estimated fair value	$ 7,302	$ 3,984
Average yield to maturity rate	1.08%	2.20%

Long-Term Deposits (Details) $ in Thousands	12 Months Ended
Long-Term Deposits (Details) $ in Thousands	Aug. 31, 2021 USD ($)
Debt Disclosure [Abstract]
Deposits	$ 25,000
Annual interest rate	0.93%
Maturity date	Aug. 10, 2023

Long-Term Deposits (Details) - Schedule of Long-Term Deposits - USD ($)
$ in Thousands

Aug. 31, 2021

Aug. 31, 2020

Schedule of Long-Term Deposits [Abstract]

Long-term deposits

^[1]

$ 25,014

Lease car deposits

Total long term deposits

$ 25,016

$ 2

[1]	Long term deposits include one deposit of $25,000 with an annual interest rate of 0.93% and a maturity date of August 10, 2023.

Accounts Payable and Accrued Expenses (Details) - Schedule of accounts payable and accrued expenses - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
Schedule of accounts payable and accrued expenses [Abstract]
Accounts payable	$ 2,606	$ 594
Payroll and related accruals	324	54
Institutions	39	19
Accrued liabilities	823	1,032
Total accounts payable and accrued expenses	$ 3,792	$ 1,699

Commitments (Details) - USD ($)								1 Months Ended							11 Months Ended	12 Months Ended
Commitments (Details) - USD ($)	Sep. 16, 2020	Sep. 02, 2020	Aug. 02, 2020	Dec. 11, 2018	Oct. 01, 2016	Dec. 28, 2015	Mar. 31, 2011	Aug. 21, 2020	Jan. 31, 2019	Dec. 18, 2017	Jul. 31, 2016	Jan. 31, 2016	Nov. 30, 2015	Jul. 31, 2015	Aug. 02, 2020	Aug. 31, 2021	Aug. 21, 2021	Feb. 15, 2011
Commitments (Details) [Line Items]
Aggregate payments receive				$ 270,000,000
License agreement, description																(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%.
Aggregate amount																$ 20,500,000
Initial payment												$ 3,000,000
Payment obligation disputed								$ 6,000,000
Deferred revenue																	$ 2,000,000
Stock purchase agreement with HTIT description													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
Total consideration																49,500,000
Issuance of common stock																10,617,000
Issuance expense																23,000
License agreement						$ 38,883,000
Non refundable amount														$ 500,000
Total amount received																2,207,000
Liability																243
Leases related to total expenses															$ 56	$ 124
Lessee, Finance Lease, Renewal Term			2025 months												2025 months
Operating lease agreements period			3 years												3 years
Royalty [Member]
Commitments (Details) [Line Items]
Royalty term																15 years
Office Facilities [Member]
Commitments (Details) [Line Items]
Lessee, description			The lease agreement is for a period of 60 months commencing September 1, 2020. The Subsidiary has the option to extend the period for another 60 months. The annual lease payment, including management fees, as of August 31, 2021 is approximately NIS 435,000 ($136).
London Interbank Offered Rate (LIBOR) [Member]
Commitments (Details) [Line Items]
Total amount received																$ 2,505
Entera Bio Ltd. [Member] \| D.N.A [Member]
Commitments (Details) [Line Items]
Retaining shares (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%
Milestone Two [Member]
Commitments (Details) [Line Items]
Milestone Payments											$ 6,500,000
Milestones Three [Member]
Commitments (Details) [Line Items]
Milestone Payments											$ 4,000,000
Milestone Four [Member]
Commitments (Details) [Line Items]
Milestone Payments					$ 4,000,000
Milestone Five [Member]
Commitments (Details) [Line Items]
Milestone Payments									$ 3,000,000
Minimum [Member] \| Israel Innovation Authority [Member]
Commitments (Details) [Line Items]
Royalty percentage																100.00%
Maximum [Member] \| Israel Innovation Authority [Member]
Commitments (Details) [Line Items]
Royalty percentage																150.00%
Vendor Two [Member]
Commitments (Details) [Line Items]
Research and development expenses recognized		$ 7,663,000
Commitments for consulting services		$ 21,589,000
Vendor Three [Member]
Commitments (Details) [Line Items]
Research and development expenses recognized	$ 2,935,000
Commitments for consulting services	$ 12,343,000
Vendor One [Member]
Commitments (Details) [Line Items]
Commitments for consulting services										$ 2,905,000
Research and development expenses recognized										$ 1,592,000

Commitments (Details) - Schedule of operating leases for office space and vehicles - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
Schedule of operating leases for office space and vehicles [Abstract]
Operating right-of-use assets	$ 533	$ 75
Operating lease liabilities, current	130	44
Operating lease liabilities long-term	403	31
Total operating lease liabilities	$ 533	$ 75
Weighted Average of Remaining Lease Term
Operating leases	3 years 10 months 17 days	1 year 8 months 26 days
Weighted Average Discount Rate
Operating leases, Percentage	3.00%	3.00%

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

Aug. 31, 2021

USD ($)

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

$ 156

138

136

136

Total undiscounted lease payments

565

Less: Interest*

(32)

^[1]

Present value of lease liabilities

$ 533

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

Stockholders' Equity (Details) - USD ($)				1 Months Ended			12 Months Ended	13 Months Ended
Stockholders' Equity (Details) - USD ($)	Jul. 15, 2021	Dec. 01, 2020	Sep. 05, 2019	Jun. 16, 2021	Feb. 27, 2020	Aug. 31, 2019	Aug. 31, 2021	Sep. 01, 2021	Nov. 24, 2021	Aug. 03, 2020
Stockholders' Equity (Details) [Line Items]
Stock Incentive Plan						1,000,000
Stock option plan issued							563,646
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 of stock issued							1,823,287
Common stock exercise expire term							As of August 31, 2021, the Company had outstanding warrants exercisable commencing January 6, 2019 for 232,175 shares of common stock at exercise prices ranging from $4.13 to $7.8125 per share and expiring from January 6, 2022 to April 15, 2029.
Issuance of common stock							232,175
Subsequent Event [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price (in Dollars)								$ 100,000
Shares, issued								50,000	273,997
Equity Distribution Agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate net proceeds (in Dollars)							$ 27,119,000
New Equity Distribution Agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate net proceeds (in Dollars)							$ 3,884,000
Sale agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price (in Dollars)			$ 15,000,000
Agent commission rate			3.00%
Shares, issued							3,212,621
Aggregate net proceeds (in Dollars)							$ 14,397,000
New sales agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price (in Dollars)		$ 40,000,000
Agent commission rate		3.00%
Shares, issued							4,061,956
Aggregate net proceeds (in Dollars)							$ 38,799,000
New Equity Distribution Agreement [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price (in Dollars)	$ 100,000,000
Agent commission rate	3.00%
Shares, issued							208,451
Minimum [Member]
Stockholders' Equity (Details) [Line Items]
Stock option plan issued										2,000,000
Exercise price (in Dollars per share)							$ 4.13
Maximum [Member]
Stockholders' Equity (Details) [Line Items]
Stock option plan issued										3,000,000
Exercise price (in Dollars per share)							$ 7.8125
Employees and Board Members [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate offering price of stock (in Dollars)				$ 28,000,000
Agent commission rate				3.00%

Stockholders' Equity (Details) - Schedule of warrant activity - $ / shares	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of warrant activity [Abstract]
Warrants, Warrants outstanding at beginning	3,407,820	3,007,680
Weighted- Average Exercise Price, Warrants outstanding at beginning	$ 6.98	$ 7.27
Warrants, issued		400,140
Weighted- Average Exercise Price, Issued		$ 4.77
Warrants, Exercised	3,175,645
Weighted- Average Exercise Price, Exercised	$ 7.07
Warrants, Expired
Weighted- Average Exercise Price, Expired
Warrants, Warrants outstanding at ending	232,175	3,407,820
Weighted- Average Exercise Price, Warrants outstanding at ending	$ 5.57	$ 6.98
Warrants, Warrants exercisable at ending	232,175	3,407,820
Weighted- Average Exercise Price, Warrants exercisable at ending	$ 5.57	$ 6.98

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	12 Months Ended
	Aug. 04, 2021	Feb. 03, 2021	Jan. 08, 2020	Sep. 11, 2019	Feb. 17, 2021	Aug. 31, 2021	Aug. 31, 2020
Stock-Based Compensation (Details) [Line Items]
Options granted	100,000		100,000		15,000		687,024
Exercise price (in Dollars per share)	$ 15.1	$ 10.4	$ 4.8		$ 11.33
Vesting, description	The options shall vest as follows: 12,500 on December 31, 2021, three equal annual installments of 25,000 on each of December 31, 2022, 2023 and 2024 and 12,500 on August 4, 2025.		The options shall vest in three equal installments on each of December 31, 2020, December 31, 2021 and December 31, 2022. As of August 31, 2021, 33,330 of such options are vested.	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, 2021, 50,000 of such options are vested.
Fair value of options granted (in Dollars)	$ 860	$ 1,987	$ 868		$ 98	$ 2
Stock price (in Dollars per share)	$ 15.1	$ 10.4	$ 4.8		$ 11.33
Expected dividend yield	0.00%	0.00%	0.00%		0.00%
Expected volatility	61.98%	61.07%	62.55%		64.39%
Risk-free interest rate	0.82%	0.64%	1.67%		0.76%
Expected term	6 years 2 months 1 day	6 years 2 months 15 days	5 years 11 months 26 days		5 years 11 months 8 days
Options vested		150,000
Restricted stock unit of granted total shares		680,000
Stock based compensation (in Dollars)						2,695	$ 465
Intrinsic value of options exercised (in Dollars)						$ 1,287	$ 27
Weighted average period						1 year 21 days
Stock issued during period, shares, restricted stock award, gross						22	87
Compensation expenses (in Dollars)						$ 4,201
Board of Directors [Member]
Stock-Based Compensation (Details) [Line Items]
Exercise price (in Dollars per share)			$ 4.8
Vesting, description			The options shall vest in four equal annual installments, on each of December 31, 2020, 2021, 2022 and 2023. As of August 31, 2021, 72,500 of such options are vested.
Stock price (in Dollars per share)			$ 4.8
Expected dividend yield			0.00%
Expected volatility			67.87%
Risk-free interest rate			1.67%
Expected term			6 years 2 months 26 days
2019 Plan [Member]
Stock-Based Compensation (Details) [Line Items]
Reserved pool of shares						3,000,000
Maximum term of the options						10 years
Options vested	33,333	226,666			10,000
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Details) [Line Items]
Restricted stock unit of granted total shares	100,000	300,000			30,000
Total per shares of fair value (in Dollars per share)	$ 985	$ 4,511			$ 217
Compensation expenses (in Dollars)						$ 1,265
Employees Board Members And Nonemployees [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted				100,000		10,000
Exercise price (in Dollars per share)				$ 3.69
Expiration date				Sep. 11, 2029
Fair value of options granted (in Dollars)				$ 224
Stock price (in Dollars per share)				$ 3.69
Expected dividend yield				0.00%
Expected volatility				65.60%
Risk-free interest rate				1.89%
Expected term				6 years 1 month 20 days
Chief Operating and Business Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted				100,000
Exercise price (in Dollars per share)				$ 3.69
Fair value of options granted (in Dollars)				$ 127
Stock price (in Dollars per share)				$ 3.69
Expected dividend yield				0.00%
Expected volatility				67.96%
Risk-free interest rate				1.68%
Expected term				6 years 10 months 28 days
Chief Executive Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options vested		100,000	190,000
Restricted stock unit of granted total shares		200,000
Chief Scientific Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options vested		40,000	100,000
Restricted stock unit of granted total shares		80,000
Chief Financial Officer [Member]
Stock-Based Compensation (Details) [Line Items]
Options vested		50,000
Restricted stock unit of granted total shares		100,000
Employees and Directors [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						859,447
Stock based compensation (in Dollars)						$ 1,409	$ 1,086
Unrecognized compensation expense (in Dollars)						$ 2,598
Weighted average period						1 year 3 months 18 days
Non Employess [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted						46,000
Intrinsic value of options exercised (in Dollars)						$ 100
Weighted average period						2 months 1 day
Common Stock [Member]
Stock-Based Compensation (Details) [Line Items]
Options granted		340,000	290,000
Exercise price (in Dollars per share)	$ 15	$ 15			$ 15
Options vested	33,333	226,667			10,000
Common Stock [Member] \| Board of Directors [Member]
Stock-Based Compensation (Details) [Line Items]
Exercise price (in Dollars per share)	$ 25	$ 25			$ 25
Fair value of options granted (in Dollars)			$ 278
Options vested	33,334	226,667			10,000

Stock-Based Compensation (Details) - Schedule of fair value of option grant using the Black Scholes option-pricing model - Stock Options [Member]	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
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 11 months 8 days	5 years 8 months 26 days
Expected stock price volatility	61.07%	57.77%
Risk free interest rate	0.64%	1.67%
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 2 months 15 days	6 years 2 months 26 days
Expected stock price volatility	64.39%	68.14%
Risk free interest rate	0.82%	1.89%

Stock-Based Compensation (Details) - Schedule of stock options granted to employees and directors - $ / shares	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of stock options granted to employees and directors [Abstract]
Number of options, Options outstanding at beginning	1,597,149	1,264,645
Weighted average exercise price, Options outstanding at beginning	$ 5.47	$ 6.11
Number of options, Granted	455,000	943,646
Weighted average exercise price, Granted	$ 11.46	$ 3.98
Number of options, Forfeited	(52,584)	(392,646)
Weighted average exercise price, Forfeited	$ 7.78	$ 3.79
Number of options, Expired		(206,243)
Weighted average exercise price, Expired		$ 6.02
Number of options, Exercised	(93,782)	12,253
Weighted average exercise price, Exercised	$ 6.42	$ 1
Number of options, Options outstanding at ending	1,905,783	1,597,149
Weighted average exercise price, Options outstanding at ending	$ 6.79	$ 5.47
Options exercisable at end of year	859,447	687,024
Weighted average fair value of options granted during the year	$ 6.47	$ 2.79

Stock-Based Compensation (Details) - Schedule of options granted to employees and directors outstanding	12 Months Ended
	Aug. 31, 2021 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	1,905,783
Weighted Average Remaining Contractual Life	7 years 2 months 4 days
Weighted average exercise price \| $ / shares	$ 6.79
Employees and Directors [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	534,918
Weighted Average Remaining Contractual Life	8 years 1 month 13 days
Weighted average exercise price \| $ / shares	$ 11.73
Employees and Directors [Member] \| 1.00 to 6.00 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	1,064,084
Weighted Average Remaining Contractual Life	7 years 3 days
Weighted average exercise price \| $ / shares	$ 3.98
Employees and Directors [Member] \| 6.23 to 9.12 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number outstanding \| shares	306,781
Weighted Average Remaining Contractual Life	6 years 1 month 9 days
Weighted average exercise price \| $ / shares	$ 7.94

Stock-Based Compensation (Details) - Schedule of stock options granted to non-employees outstanding - Share-based Payment Arrangement [Member] - $ / shares	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
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)	103,152	47,152
Weighted average exercise price, Options outstanding at beginning of year	$ 6.64	$ 9.51
Number of options, Granted (in Shares)		56,000
Weighted average exercise price, Granted		$ 4.21
Number of options, Exercised (in Shares)	(10,000)
Weighted average exercise price, Exercised	$ 7.36
Number of options, Forfeited (in Shares)
Weighted average exercise price, Forfeited
Number of options, Expired (in Shares)	(37,152)
Weighted average exercise price, Expired	$ 6
Number of options, Options outstanding at end of year (in Shares)	56,000	103,152
Weighted average exercise price, Options outstanding at end of year	$ 4.22	$ 6.64
Number of options, Options exercisable at end of year (in Shares)	46,000	65,152
Weighted average exercise price, Options exercisable at end of year	$ 4.03	$ 5.58
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 - 3.74-5.08 [Member]	12 Months Ended
	Aug. 31, 2021 $ / shares shares
Stock-Based Compensation (Details) - Schedule of concerning the options granted to non-employees outstanding [Line Items]
Number outstanding \| shares	56,000
Weighted Average Remaining Contractual Life	8 years 3 months 18 days
Weighted Average Exercise Price \| $ / shares	$ 4.22

Stock-Based Compensation (Details) - Schedule of activities for unvested RSUs granted to employees and directors - shares	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Number of RSUs
Vested and unissued at the beginning of period	164,636	164,636
Granted	810,000
Forfeited	(53,334)
Outstanding at the end of the period	921,302	164,636
Vested	236,665
Vested and unissued	401,301	164,636

Financial Income and Expenses (Details) - Schedule of financial income - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of financial income [Abstract]
Income from interest on deposits	$ 130	$ 552
Income from interest on corporate bonds	217	138
Gain from securities, net	6
Revaluation of securities, net	889
Financial income	$ 1,242	$ 690

Financial Income and Expenses (Details) - Schedule of financial expenses - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of financial expenses [Abstract]
Exchange rate differences, net	$ 2	$ 6
Bank and broker commissions	5	6
Loss from securities, net		432
Other	1
Financial expenses	$ 8	$ 444

Taxes on Income (Details) - USD ($) $ in Thousands	12 Months Ended
Taxes on Income (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2019
Taxes on Income (Details) [Line Items]
Accumulated tax loss carryforward	$ 25,073	$ 19,392	$ 16,238
Domestic Tax Authority [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate	21.00%
Accumulated tax loss carryforward	$ 19,159	$ 15,880
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 originating in tax years beginning prior to January 1, 2018, expire 20 years after the year in which incurred.
Net loss carryforward will expire years, description	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.
Israel Tax Authority [Member]
Taxes on Income (Details) [Line Items]
Corporate tax rate	23.00%	23.00%
Accumulated tax loss carryforward	$ 73,762	$ 57,900

Taxes on Income (Details) - Schedule of deferred income taxes - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
Schedule of deferred income taxes [Abstract]
Net operating loss carryforward	$ 21,196	$ 16,652
Research and development expenses	3,877	2,740
Less - valuation allowance	(25,073)	(19,392)
Net deferred tax assets

Taxes on Income (Details) - Schedule of loss before taxes on income and income taxes included in the income statements of operations - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Loss before taxes on income:
U.S.	$ 5,307	$ 2,868
Outside U.S.	17,682	8,643
Loss before taxes on income	22,989	11,511
Taxes on income (tax benefit):
U.S.
Outside U.S.
Income tax expenses (benefit), Total

Taxes on Income (Details) - Schedule of reconciliation of income taxes - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of reconciliation of income taxes [Abstract]
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$ (22,989)	$ (11,511)
Statutory tax benefit	(4,828)	(2,417)
Increase in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax	4,872	3,154
Disallowable deductions	310	135
Influence of different tax rate applicable to the Subsidiary and changes in tax rates from previous years	(354)	$ (872)
Withholding tax, see note 10d above
Uncertain tax position
Taxes on income for the reported year

Taxes on Income (Details) - Schedule of unrecognized tax benefits - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Schedule of unrecognized tax benefits [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, 2021	Aug. 31, 2020
Schedule of valuation allowance rollforward [Abstract]
Balance at beginning of period	$ 19,392	$ 16,238
Additions	5,681	3,154
Balance at end of period	$ 25,073	$ 19,392

Related Parties - Transactions (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Sep. 01, 2021	Jul. 01, 2008	Aug. 31, 2021	Aug. 31, 2020
Related Parties - Transactions (Details) [Line Items]
Directors fees			$ 100	$ 95
Chief Executive Officer [Member]
Related Parties - Transactions (Details) [Line Items]
Consulting agreements, description	Starting September 1, 2021, the CEO receives a monthly consulting fee of NIS 146,705 ($46) and the CSO receives a monthly consulting fee of NIS 106,400 ($33)	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 ($40) and NIS 92,522 ($29), respectively.
Relocation expenses			$ 377	$ 516

Related Parties - Transactions (Details) - Schedule of balances with related parties - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 31, 2020
KNRY [Member]
Related Parties - Transactions (Details) - Schedule of balances with related parties [Line Items]
Accounts payable and accrued expenses - KNRY	$ 54	$ 90

Related Parties - Transactions (Details) - Schedule of expenses to related parties - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
KNRY [Member]
Related Parties - Transactions (Details) - Schedule of expenses to related parties [Line Items]
Expenses to related parties	$ 872	$ 766
Nadav Kidron (CEO) [Member]
Related Parties - Transactions (Details) - Schedule of expenses to related parties [Line Items]
Expenses to related parties	$ 687	$ 801

Asset Acquisition Transaction (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 18, 2021	Aug. 31, 2021
Asset Acquisition Transaction (Details) [Line Items]
Asset acquisition description	On that date, Oravax’s assets were (1) in process research and development of COVID-19 vaccine technology; and (2) $1,500 received in cash. According to the Stockholders Agreement, Oravax issued 1,890,000 shares of its capital stock to the Company, representing 63% of the issued and outstanding share capital of Oravax, on a fully diluted basis, as of the date of issuance.
Royalties net sales		2.50%
Non-sales-based consideration		15.00%
Other payments		$ 25,000
Increase in non-controlling interests		1,495
IPR&D		$ 1,040
Oravax [Member]
Asset Acquisition Transaction (Details) [Line Items]
Royalties net sales		7.50%
Other payments		$ 100,000
Oravax License Agreement [Member]
Asset Acquisition Transaction (Details) [Line Items]
license agreement		$ 1,500

Subsequent Events (Details) - USD ($)		1 Months Ended		13 Months Ended
Subsequent Events (Details) - USD ($)	Nov. 24, 2021	Nov. 03, 2021	Sep. 01, 2021	Sep. 01, 2021
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Shares purchased	273,997		50,000	50,000
Price per share			$ 20.19	$ 20.19
Installments			The options shall vest in four equal installments of 12,500 options on each of June 27, 2022, June 27, 2023, June 27, 2024 and June 27, 2025.
Closing price of common stock, description			33,333 if the closing price per share of the Company’s common stock will be at least $25 for at least 20 days out of any 30-trading day period; and 1.If the first condition is met anytime before June 27, 2022, then the RSUs will vest in three equal installments (on June 27, 2022, June 27, 2023 and June 27, 2024). 2.If the first condition is met anytime between June 27, 2022 and June 27, 2023, then 1/3 of the RSUs will vest immediately, and the remainder will vest in two equal installments (on June 27, 2023 and June 27, 2024). 3.If the first condition is met anytime between June 27, 2023 and June 27, 2024, then 2/3 of the RSUs will vest immediately, and the remaining 1/3 will vest on June 27, 2024). 4.If the first condition is met anytime after June 27, 2024, then the RSUs will vest immediately.
Option maturity term			Sep. 01, 2031
Total value RSU				$ 1,572
Aggregate offering price				$ 100,000
Restricted Stock Units (RSUs) [Member]
Subsequent Events (Details) [Line Items]
Restricted stock unit			50,000
Board of Directors [Member] \| Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Closing price of common stock, description			16,667 upon achievement of a certain licensing agreement as specified by the Board of Directors; and 1. If the first condition is met anytime before June 27, 2022, then the RSUs will vest in three equal installments (on June 27, 2022, June 27, 2023 and June 27, 2024). 2. If the first condition is met anytime between June 27, 2022 and June 27, 2023, then 1/3 of the RSUs will vest immediately, and the remainder will vest in two equal installments (on June 27, 2023 and June 27, 2024). 3. If the first condition is met anytime between June 27, 2023 and June 27, 2024, then 2/3 of the RSUs will vest immediately, and the remaining 1/3 will vest on June 27, 2024). 4.If the first condition is met anytime after June 27, 2024, then the RSUs will vest immediately.
Forecast [Member] \| Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Shares purchased	565,120	2,000,000
Price per share		$ 25
Aggregate net proceeds	$ 12,298
Offering expenses		$ 46,375