0001213900-24-068992 | 10-Q | XBRL Viewer | Oramed Pharmaceuticals INC

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of RSUs Garnts to Employees and Directors

Below is a table summarizing all of the RSUs grants to employees and Directors made during the six month period ended June 30, 2024.

	No. of RSUs granted		Exercise price		Vesting period	Fair value at grant*		Expiration period (in years)
Employees		1,389,540		0	**	$	3,350,535		10
Directors		192,120		0	***	$	461,220		10

The RSUs fair value is based on the Company’s share price on the Nasdaq Capital Market on the grant dates.

Employees:
No. of RSUs granted		Vesting period
950,500		Vesting in 12 equal quarterly installments starting January 8, 2024.
5,000		Vesting in 12 equal quarterly installments starting July 1, 2024.
294,000		Vesting on April 4, 2025.
93,360		Vesting on June 18, 2026.
46,680		Vesting in 4 equal quarterly installments starting September 18, 2026.

***

Directors:
No. of RSUs granted		Vesting period
150,000		Vesting in 3 equal annual installments starting January 1, 2025.
41,360		Vesting in 4 equal quarterly installments starting April 1, 2024.
760		Vesting in 2 equal quarterly installments starting October 1, 2024.

Below is a table summarizing all of the performance-based RSUs (“PSUs”) grants to the Chief Financial Officer made during the six month period ended June 30, 2024.

No. of PSUs granted				Exercise price				Expected vesting period		Fair value at grant				Expiration period (in years)
	34,000				0			2.5 years		$	73,379				10

Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES:

Condensed consolidated financial statements preparation

The condensed consolidated financial statements included herein have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and, on the same basis as the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Form 10-K”). These condensed consolidated financial statements reflect all adjustments that are of a normal recurring nature and that are considered necessary for a fair statement of the results of the periods presented. Certain information and disclosures normally included in annual consolidated financial statements have been omitted in this interim period report pursuant to the rules and regulations of the Securities and Exchange Commission. Because the condensed consolidated interim financial statements do not include all of the information and disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in the 2023 Form 10-K. The results for interim periods are not necessarily indicative of a full fiscal year’s results.

earnings (loss) per common share

Basic net earnings (loss) per common share are computed by dividing the net earnings (loss) attributable to stockholders for the period by the weighted average number of shares of common stock outstanding for each period, including vested restricted stock units (“RSUs”). Outstanding stock options, warrants and RSUs have been excluded from the calculation of diluted loss per share for the three and six month periods ended June 30, 2023, because all such securities are anti-dilutive for these periods.

For the diluted earnings per share calculation for each of the three and six month periods ended June 30, 2024, the weighted average number of shares outstanding during the three and six month periods ended June 30, 2024 is adjusted for the potential dilution that could occur in connection with employee share-based payment, using the treasury stock method.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of the diluted net income was 4,206,451 for the six month period ended June 30, 2024.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of the diluted net loss was 3,694,057 for the six month period ended June 30, 2023.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of diluted income was 3,993,552 for the three month period ended June 30, 2024.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of diluted net loss was 4,026,508 for the three month period ended June 30, 2023.

Recently issued accounting pronouncements, not yet adopted

In November 2023, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07 “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance expands public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. Public entities with a single reportable segment are required to provide the new disclosures and all the disclosures required under Accounting Standards Codification 280 “Segment Reporting”. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments are required to be applied retrospectively to all prior periods presented in an entity’s financial statements. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements related disclosures.

In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the U.S. and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures.

Fair value

The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability 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.

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

	June 30, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA (as defined below)		330		-		-		330
Entera (as defined below)		215		-		-		215
Transferred Warrants (see note 4)		1,800		-		-		1,800
Closing Penny Warrant (see note 4)		-		8,685		-		8,685
Subsequent Penny Warrants (see note 4)		-		-		15,038		15,038
The Note (see note 4)		-		-		66,206		66,206
	$	2,345	$	8,685	$	81,244	$	92,274

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA		297		-		-		297
Entera		70		-		-		70
Transferred Warrants (see note 4)		1,440		-		-		1,440
Closing Penny Warrant (see note 4)		-		9,180		-		9,180
Subsequent Penny Warrants (see note 4)		-		-		6,502		6,502
The Note (see note 4)		-		-		93,066		93,066
	$	1,807	$	9,180	$	99,568	$	110,555

As of June 30, 2024 and December 31, 2023, 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.

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

Investments, at Fair Value (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Sep. 21, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments, at Fair Value [Line Items]
Exit fee				$ 3,056
Warrant expire				Nov. 10, 2027
Principal payment				$ 35,000
Interest Income, Deposits with Financial Institutions				16,540
Aggregate unpaid principal balance				6,071
Tax expenses		$ 1,634		1,634
Scilex Transaction [Member]
Investments, at Fair Value [Line Items]
Principal payments				$ 40,000
Penny Warrants [Member]
Investments, at Fair Value [Line Items]
Warrants vested shares (in Shares)				4,250,000
Penny Warrants [Member] \| Scilex Transaction [Member]
Investments, at Fair Value [Line Items]
Warrants to purchase common stock (in Shares)				4,500,000
Penny Warrants [Member] \| Scilex Transaction [Member] \| Scilex Holding Company [Member]
Investments, at Fair Value [Line Items]
Warrant per share (in Dollars per share)				$ 0.01
Additional warrant (in Shares)				8,500,000
Transferred Warrants [Member]
Investments, at Fair Value [Line Items]
Transferred warrants purchase share (in Shares)				4,000,000
Exercise price warrant (in Dollars per share)		$ 11.5		$ 11.5
Fair value transaction		$ (1,800)		$ (1,800)		$ (1,440)
Closing Penny Warrant [Member]
Investments, at Fair Value [Line Items]
Fair value transaction		(8,685)		(8,685)		(9,180)
Subsequent Penny Warrants [Member]
Investments, at Fair Value [Line Items]
Fair value transaction		(15,038)		(15,038)		(6,502)
Scilex Transaction [Member]
Investments, at Fair Value [Line Items]
Principal of note issued	$ 101,875
DIP Loan Agreement [Member] \| Scilex Transaction [Member]
Investments, at Fair Value [Line Items]
Bear interest rate	8.50%
Minimum [Member]
Investments, at Fair Value [Line Items]
Fair value transaction		91,729		$ 91,729		110,188
Discount rate				53.67%
Maximum [Member]
Investments, at Fair Value [Line Items]
Fair value transaction		$ (66,206)		$ (66,206)		$ (93,066)
Discount rate				53.92%

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jun. 20, 2024	Jun. 30, 2024	Jun. 18, 2024
Employee 1 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		950,500
Employee 2 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		5,000
Employee 3 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		294,000
Employee 4 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		93,360
Employee 5 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		46,680
Director1 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		150,000
Director 2 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		41,360
Director 3 [Member] \| Restricted Stock Units (RSUs) [Member]
Stockholders’ Equity [Line Items]
No of RSU granted		760
Chief Executive Officer [Member]
Stockholders’ Equity [Line Items]
Shares granted	34,000
Closing Price Per Shares (in Dollars per share)			$ 4,000
Fair value of grant (in Dollars)	$ 73
Market share price (in Dollars per share)	$ 2.21
Common Stock [Member]
Stockholders’ Equity [Line Items]
Shares granted		20,000

General

6 Months Ended

Jun. 30, 2024

General [Abstract]

GENERAL

NOTE 1 - GENERAL:

Incorporation and Operations

Oramed Pharmaceuticals Inc. (collectively with its subsidiaries, the “Company”, unless the context indicates otherwise), a Delaware corporation, was incorporated on April 12, 2002.

On March 18, 2021, Oravax Medical Inc. (“Oravax”) was established by the Company and others. The Company holds a 63% interest in Oravax. Consequently, the Company consolidates Oravax in its consolidated financial statements since that time.

On January 11, 2023, the Company announced that the ORA-D-013-1 Phase 3 trial did not meet its primary and secondary endpoints. As a result, the Company terminated this trial and a parallel Phase 3, ORA-D-013-2 clinical trial. As these results are considered a triggering event, the Company evaluated all of its long lived assets which include fixed assets and operating lease right-of-use assets in the first quarter of 2023 and concluded that no impairment was required. The Company completed an analysis of the data from the ORA-D-013-1 Phase 3 trial and found that subpopulations of patients with pooled specific parameters, such as body mass index (BMI), baseline HbA1c, age, gender and body weight, responded well to oral insulin. These subsets exhibited an over 1% placebo adjusted, statistically significant, reduction in HbA1c. Based on this analysis, the Company is working on a protocol for a new Phase 3 clinical trial, which was submitted to the U.S. Food and Drug Administration (the “FDA”).

On January 22, 2024, the Company and its wholly-owned subsidiary, Oramed Ltd., entered into a joint venture agreement (the “JV Agreement”), with Hefei Tianhui Biotech Co., Ltd. (“HTIT Biotech”) and Technowl Limited, a wholly-owned indirect subsidiary of HTIT Biotech (“HTIT Sub” and together with HTIT Biotech, “HTIT”), pursuant to which, subject to the terms and conditions set forth in the JV Agreement, the parties will establish a joint venture (the “JV”), based on the Company’s oral drug delivery technology.

The JV will focus on the development and worldwide commercialization of innovative products based on the Company’s oral insulin and POD™ (Protein Oral Delivery) pipeline and HTIT’s manufacturing capabilities and technologies. The parties intend for the JV to use the protocol the Company recently submitted to the FDA to initiate a Phase 3 oral insulin trial in the United States.

The Company and HTIT will initially hold equal shares in the JV, with each owning 50% of the equity. The board of directors will initially consist of equal representation from HTIT and the Company. HTIT will contribute to the JV $70,000 in cash, while the Company will contribute $20,000 (comprised of $10,000 in cash and $10,000 in shares of the Company’s common stock that will be subject to certain registration rights) and will transfer intellectual property related to its oral insulin and POD™ technology, as well as other assets in the Company’s pipeline. HTIT will have an option to invest additional funds into the JV up to an aggregate amount of $20,000, thereby increasing its equity holdings and granting the right to increase its board representation.

The consummation of the JV Agreement is subject to and contingent upon the parties entering into additional agreements pursuant to the JV Agreement. There is no assurance that the parties will complete and sign these additional agreements.

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. Following the termination of the ORA-D-013-1 and ORA-D-013-2 Phase 3 trials, the Company’s research and development activities have been significantly reduced while it conducts a strategic review process. As a result, the Company is currently incurring lower research and development and sales and marketing expenses.

Based on the Company’s current cash resources and commitments, the Company believes it will be able to maintain its current planned activities and the corresponding level of expenditures for at least the next 12 months.

Related Party Transactions (Details) ₪ in Thousands, $ in Thousands					6 Months Ended
	Nov. 01, 2022 USD ($)	Nov. 01, 2022 ILS (₪)	Jul. 01, 2008 USD ($)	Jul. 01, 2008 ILS (₪)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 ILS (₪)
Chief Scientific Officer [Member]
Related Party Transactions [Line Items]
Consulting fee paid			$ 31	₪ 117,040
Chief Executive Officer [Member]
Related Party Transactions [Line Items]
Consulting fee paid	$ 26	₪ 96,825
President [Member]
Related Party Transactions [Line Items]
Gross monthly salary					$ 14	₪ 51,591

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2024	Aug. 13, 2024
Document Information Line Items
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Trading Symbol	ORMP
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		40,769,027
Amendment Flag	false
Entity Central Index Key	0001176309
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly 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
City Area Code	844
Local Phone Number	967-2633
Title of 12(b) Security	Common Stock, par value $0.012
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Interim Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
REVENUES		$ 674		$ 1,340
RESEARCH AND DEVELOPMENT EXPENSES	(1,442)	(1,821)	(2,621)	(6,248)
SALES AND MARKETING EXPENSES		(192)		(376)
GENERAL AND ADMINISTRATIVE EXPENSES	(1,693)	(2,452)	(3,476)	(3,715)
OPERATING LOSS	(3,135)	(3,791)	(6,097)	(8,999)
INTEREST EXPENSES	(261)		(853)
FINANCIAL INCOME, NET	14,234	2,478	19,322	4,075
INCOME (LOSS) BEFORE TAX EXPENSES	10,838	(1,313)	12,372	(4,924)
TAX EXPENSES	(1,634)		(1,634)
NET INCOME (LOSS)	9,204	(1,313)	10,738	(4,924)
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	(8)	(119)	(10)	(335)
NET INCOME (LOSS) ATTRIBUTABLE TO STOCKHOLDERS	$ 9,212	$ (1,194)	$ 10,748	$ (4,589)
BASIC EARNINGS (LOSS) PER SHARE OF COMMON STOCK (in Dollars per share)	$ 0.22	$ (0.03)	$ 0.26	$ (0.11)
DILUTED EARNINGS (LOSS) PER SHARE OF COMMON STOCK (in Dollars per share)	$ 0.22	$ (0.03)	$ 0.26	$ (0.11)
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING BASIC EARNINGS (LOSS) PER SHARE OF COMMON STOCK (in Shares)	40,959,759	40,225,594	40,899,275	40,144,725
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING DILUTED EARNINGS (LOSS) PER SHARE OF COMMON STOCK (in Shares)	41,591,007	40,225,594	41,427,849	40,144,725

Investments, at Fair Value

6 Months Ended

Jun. 30, 2024

Investments, at Fair Value [Abstract]

INVESTMENTS, AT FAIR VALUE

NOTE 4 - INVESTMENTS, AT FAIR VALUE:

Scilex Transaction

On September 21, 2023, the Company completed a transaction (the “Transaction”) with Scilex in exchange for certain equity securities of Scilex as follows:

A Senior Secured Promissory Note (the “Note”), with a principal amount of $101,875, maturing on March 21, 2025 and bearing and interest of SOFR plus 8.5%, payable in-kind. Scheduled principal payments are due on December 21, 2023, March 21, 2024, June 21, 2024, September 21, 2024, and December 21, 2024, with the balance due on March 21, 2025. As per the Note terms, if the Note is not repaid in full on or prior to March 21, 2024, an exit fee of $3,056 is due. Since the Note was not repaid by that date, the Company is entitled to the above-mentioned exit fee at the maturity date of the Note. As of June 30, 2024, Scilex has repaid $40,000 of the amount due under the Note, according to the terms of the Note.

Warrants to purchase up to 4,500,000 shares of Scilex common stock with an exercise price of $0.01 per share (the “Closing Penny Warrants”) and additional warrants for up to 8,500,000 shares (the “Subsequent Penny Warrants”), which will be vested in accordance with the terms of the Note. As of June 30, 2024, 4,250,000 Subsequent Penny Warrants were vested.

Transferred Warrants (the “Transferred Warrants”) to purchase 4,000,000 shares of Scilex common stock at $11.50 per share, fully exercisable and expiring on November 10, 2027.

As of December 31, 2023, the fair value of the Transaction was $110,188, split between the Note ($93,066), the Closing Penny Warrant ($9,180), the Subsequent Penny Warrants ($6,502) and the Transferred Warrants ($1,440). As of June 30, 2024 the fair value of the Transaction was $91,729, split among the Note ($66,206), Closing Penny Warrant ($8,685), Subsequent Penny Warrants ($15,038), and Transferred Warrants ($1,800). In the six month period ended June 30, 2024, the Company received $35,000 as per the Note terms. As a result, the Company recorded financial income of $16,540 for the six month period ended June 30, 2024.

The Company accounted for the Transferred Warrants as derivatives measured at fair value.

The Company elected the fair value option for the Note and the Penny Warrants in order to reduce operational complexity of bifurcating embedded derivatives. Changes in value are recorded under financial income, net and include interest income on the Note.

The valuation was performed based on several scenarios which some of them took into account a partial or full early repayment of the Note. Each scenario took into consideration the present value of the Note’s cash flows (including the exit fee and the prepayment premium) and the Warrants’ value. The total value of the Transaction (and of each of its components) was valued on a weighted average of the different scenarios.

The discount rate of the Note was based on the B- rating Zero curve in addition to a risk premium which takes into account the credit risk of Scilex and ranged between 53.67% to 53.92%.

The fair value of the Transferred Warrants was based on their closing price on the Nasdaq Capital Market.

The fair value of the Penny Warrants was calculated based on the closing price of the Scilex Common Stock on the Nasdaq Capital Market, taking into account several scenarios which assume a partial or full early repayment of the Note, when applicable. The difference between the Note’s fair value and aggregate unpaid principal balance (which includes interest payable on maturity) is $6,071.

Based on anticipated gains from the Transaction, the Company anticipates taxable income for the fiscal year ending December 31, 2024. As a result, the Company expects to fully utilize the tax loss carryforward of Oramed Pharmaceuticals Inc. and to incur associated tax expenses. During the six month period ended June 30, 2024 the Company recognized tax expenses of $1,634. The provision for income taxes in the interim period is determined using an estimated annual effective tax rate (taking into account utilization of carryforward tax losses of Oramed Pharmaceuticals Inc).

- Definition

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

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-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Marketable Securities (Details) - Schedule of Marketable Securities Include Investments in Equity Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Long-term:
Long-term marketable securities	$ 2,345	$ 1,807
DNA [Member]
Long-term:
Long-term marketable securities	330	297
Entera [Member]
Long-term:
Long-term marketable securities	215	70
Transferred Warrants [Member]
Long-term:
Long-term marketable securities	$ 1,800	$ 1,440

Leases (Details) - Schedule of Lease Payments - USD ($)
$ in Thousands

Jun. 30, 2024

Dec. 31, 2023

Schedule of Lease Payments [Abstract]

2024

$ 132

$ 282

2025

218

222

2026

137

120

2027

Total undiscounted lease payments

505

634

Less: Interest

^[1]

(19)

(25)

Present value of lease liabilities

$ 486

$ 609

[1]	Future lease payments were discounted by 3%-7% interest rate.

Related Party Transactions

6 Months Ended

Jun. 30, 2024

RELATED PARTY TRANSACTIONS

NOTE 7 - RELATED PARTY TRANSACTIONS:

On July 1, 2008, the Company’s wholly-owned subsidiary, Oramed Ltd. (the “Subsidiary”), entered into a consulting agreement with KNRY Ltd. (“KNRY”), an Israeli company owned by the Chief Scientific Officer, whereby the Chief Scientific Officer, through KNRY, provides services to the Company (the “Consulting Agreement”). The Consulting Agreement is terminable by either party upon 140 days prior written notice. The Consulting Agreement, as amended, provide that KNRY will be reimbursed for reasonable expenses incurred in connection with the performance of the Consulting Agreement and the monthly consulting fee paid to the Chief Scientific Officer is NIS 117,040 ($31).

Effective November 1, 2022, the Company entered into a consulting agreement with Shnida Ltd., whereby the President and Chief Executive Officer, through Shnida Ltd., provides services as President and Chief Executive Officer of the Company. The agreement is terminable by either party upon 140 days prior written notice. The agreement, as amended, provides that Shnida Ltd. will be reimbursed for reasonable expenses incurred in connection with performance of the agreement and that the President and Chief Executive Officer will receive a monthly consulting fee of NIS 96,825 ($26), plus value added tax. Pursuant to the agreement, Shnida Ltd. and the President and Chief Executive Officer each agree that during the term of the agreement and for a 12-month period thereafter, none of them will compete with the Company nor solicit employees of the Company.

In addition, the Company, through the Subsidiary, has entered into an employment agreement with the President and Chief Executive Officer, effective as of November 1, 2022, as amended, pursuant to which the President and Chief Executive Officer receives gross monthly salary of NIS 51,591 ($14) in consideration for his services as President and Chief Executive Officer of the Subsidiary. In addition, the President and Chief Executive Officer is provided with a cellular phone and a company car pursuant to the terms of his agreement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 10,738	$ (4,924)
Adjustments required to reconcile net income (loss) to net cash used in operating activities:
Depreciation	110	89
Exchange differences and interest on deposits and held to maturity bonds	3,856	(457)
Changes in fair value of investments	(16,719)	(820)
Stock-based compensation	2,523	1,993
Gain on amounts funded in respect of employee rights upon retirement	(1)	(2)
Change in accrued interest on short-term borrowings	(1,463)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	4	620
Accounts payable, accrued expenses and related parties	1,549	(3,328)
Net changes in operating lease	5	(25)
Deferred revenues		(1,340)
Liability for employee rights upon retirement	1	6
Other liabilities	(3)	5
Total net cash provided by (used in) operating activities	600	(8,183)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term deposits	(4,000)	(89,919)
Proceeds from short-term deposits	93,650	59,500
Proceeds from maturity of held to maturity securities		2,725
Proceeds from long-term deposits	5
Proceeds from long-term investments	35,000
Purchase of property and equipment	(2)	(219)
Total net cash provided by (used in) investing activities	124,653	(27,913)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs		2,430
Loans repaid	(49,550)
Total net cash provided by (used in) financing activities	(49,550)	2,430
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(5)	(31)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	75,698	(33,697)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	9,055	40,464
CASH AND CASH EQUIVALENTS AT END OF PERIOD	84,753	6,767
(A) SUPPLEMENTARY DISCLOSURE ON CASH FLOWS -
Interest received	6,439	2,866
Interest paid	(2,316)
(B) SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES -
Recognition of operating lease right-of-use assets and liabilities	58
Derecognition of right-of-use asset	(26)
Derecognition of lease liability	$ 23

Stockholders' Equity (Details) - Schedule of RSUs Garnts to Employees and Directors - Restricted Stock Units (RSUs) [Member]

6 Months Ended

Jun. 30, 2024

$ / shares

Employees [Member]

Stockholders' Equity (Details) - Schedule of RSUs Garnts to Employees and Directors [Line Items]

No. of RSUs granted | shares

1,389,540

Exercise price

$ 0

Vesting period

^[1]

Fair value at grant

$ 3,350,535

^[2]

Expiration period (in years)

10 years

Director [Member]

Stockholders' Equity (Details) - Schedule of RSUs Garnts to Employees and Directors [Line Items]

No. of RSUs granted | shares

192,120

Exercise price

$ 0

Vesting period

^[3]

Fair value at grant

$ 461,220

^[2]

Expiration period (in years)

10 years

Chief Financial Officer [Member]

Stockholders' Equity (Details) - Schedule of RSUs Garnts to Employees and Directors [Line Items]

No. of RSUs granted | shares

34,000

Exercise price

$ 0

Vesting period

2 years 6 months

Fair value at grant

$ 73,379

Expiration period (in years)

10 years

[1]	Employees: No. of RSUs granted Vesting period950,500 Vesting in 12 equal quarterly installments starting January 8, 2024.5,000 Vesting in 12 equal quarterly installments starting July 1, 2024.294,000 Vesting on April 4, 2025.93,360 Vesting on June 18, 2026.46,680 Vesting in 4 equal quarterly installments starting September 18, 2026.
[2]	The RSUs fair value is based on the Company’s share price on the Nasdaq Capital Market on the grant dates.
[3]	Directors: No. of RSUs granted Vesting period150,000 Vesting in 3 equal annual installments starting January 1, 2025.41,360 Vesting in 4 equal quarterly installments starting April 1, 2024.760 Vesting in 2 equal quarterly installments starting October 1, 2024.

Significant Accounting Policies (Details) - Schedule of Fair Value Measurements on a Recurring Basis - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Marketable Securities
Marketable Securities	$ 92,274	$ 110,555
Level 1 [Member]
Marketable Securities
Marketable Securities	2,345	1,807
Level 2 [Member]
Marketable Securities
Marketable Securities	8,685	9,180
Level 3 [Member]
Marketable Securities
Marketable Securities	81,244	99,568
DNA [Member]
Marketable Securities
Marketable Securities	330	297
DNA [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities	330	297
DNA [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities
DNA [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities
Entera [Member]
Marketable Securities
Marketable Securities	215	70
Entera [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities	215	70
Entera [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities
Entera [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities
Transferred Warrants [Member]
Marketable Securities
Marketable Securities	1,800	1,440
Transferred Warrants [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities	1,800	1,440
Transferred Warrants [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities
Transferred Warrants [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities
Closing Penny Warrant [Member]
Marketable Securities
Marketable Securities	8,685	9,180
Closing Penny Warrant [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities
Closing Penny Warrant [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities	8,685	9,180
Closing Penny Warrant [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities
Subsequent Penny Warrants [Member]
Marketable Securities
Marketable Securities	15,038	6,502
Subsequent Penny Warrants [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities
Subsequent Penny Warrants [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities
Subsequent Penny Warrants [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities	15,038	6,502
The Note [Member]
Marketable Securities
Marketable Securities	66,206	93,066
The Note [Member] \| Level 1 [Member]
Marketable Securities
Marketable Securities
The Note [Member] \| Level 2 [Member]
Marketable Securities
Marketable Securities
The Note [Member] \| Level 3 [Member]
Marketable Securities
Marketable Securities	$ 66,206	$ 93,066

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating Leases

The Company has various operating leases for office space and vehicles that expire through 2027. Below is a summary of the Company’s operating right-of-use assets and operating lease liabilities as of June 30, 2024 and December 31, 2023:

	June 30, 2024		December 31, 2023
Operating right-of-use assets	$	566	$	694

Operating lease liabilities, current		250		267
Operating lease liabilities long-term		236		342
Total operating lease liabilities	$	486	$	609

Schedule of Lease Payments

Lease payments for the Company’s right-of-use assets over the remaining lease periods as of June 30, 2024 and December 31, 2023 are as follows:

	June 30, 2024			December 31, 2023
2024		132			282
2025		218			222
2026		137			120
2027		18			10
Total undiscounted lease payments		505			634
Less: Interest*		(19	)		(25	)
Present value of lease liabilities	$	486		$	609

Future lease payments were discounted by 3%-7% interest rate.

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Stockholders’ Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 5 - STOCKHOLDERS’ EQUITY:

Stock based compensation

Below is a table summarizing all of the RSUs grants to employees and Directors made during the six month period ended June 30, 2024.

	No. of RSUs granted		Exercise price		Vesting period	Fair value at grant*		Expiration period (in years)
Employees		1,389,540		0	**	$	3,350,535		10
Directors		192,120		0	***	$	461,220		10

The RSUs fair value is based on the Company’s share price on the Nasdaq Capital Market on the grant dates.

Employees:
No. of RSUs granted		Vesting period
950,500		Vesting in 12 equal quarterly installments starting January 8, 2024.
5,000		Vesting in 12 equal quarterly installments starting July 1, 2024.
294,000		Vesting on April 4, 2025.
93,360		Vesting on June 18, 2026.
46,680		Vesting in 4 equal quarterly installments starting September 18, 2026.

***

Directors:
No. of RSUs granted		Vesting period
150,000		Vesting in 3 equal annual installments starting January 1, 2025.
41,360		Vesting in 4 equal quarterly installments starting April 1, 2024.
760		Vesting in 2 equal quarterly installments starting October 1, 2024.

Below is a table summarizing all of the performance-based RSUs (“PSUs”) grants to the Chief Financial Officer made during the six month period ended June 30, 2024.

No. of PSUs granted				Exercise price				Expected vesting period		Fair value at grant				Expiration period (in years)
	34,000				0			2.5 years		$	73,379				10

On June 20, 2024, the Company granted 34,000 PSUs representing a right to receive shares of the Company’s common stock to the Company’s Chief Financial Officer. The total amount of the PSUs shall vest upon the later of (i) June 18, 2026 and (ii) when the closing price per share of Common Stock of the Company on the Nasdaq Capital Market reaches an average of $4.00 over any 10-trading day period. The total fair value of these PSUs on the date of grant was $73, using the Monte-Carlo model, based on the quoted closing market share price of $2.21 on the Nasdaq Capital Market on the date of grant.

Buyback Program

In June 2024, the Company’s board of directors authorized a stock buyback program pursuant to which the Company may, from time to time, purchase up to $20,000 in maximum value of its common stock. Share repurchases may be executed through various means, including, without limitation, open market transactions, privately negotiated transactions or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The stock buyback program does not obligate the Company to purchase any shares and expires in 12 months. The authorization for the stock buyback program may be terminated, increased or decreased by the Company’s board of directors in its discretion at any time. During June 2024, the Company did not use the buyback program. For further details see note 8.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Leases (Details) - USD ($) $ in Thousands	6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Leases [Line Items]
Derecognized a right-of-use asset	$ 26
Derecognition of lease liability	23
Lease liability	$ 486		$ 609
Vehicles [Member]
Leases [Line Items]
Lease term	3 years
Lease liability	$ 58
Minimum [Member]
Leases [Line Items]
Interest rate, percentage	3.00%
Maximum [Member]
Leases [Line Items]
Interest rate, percentage	7.00%

Leases (Details) - Schedule of Operating Leases - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Operating Leases [Abstract]
Operating right-of-use assets	$ 566	$ 694
Operating lease liabilities, current	250	267
Operating lease liabilities long-term	236	342
Total operating lease liabilities	$ 486	$ 609

Interim Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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	40,628,924	40,338,979
Common stock, shares outstanding	40,628,924	40,338,979

Subsequent Events (Details)	6 Months Ended
Subsequent Events (Details)	Jun. 30, 2024 USD ($) $ / shares shares
Subsequent Events [Abstract]
Repurchased shares \| shares	118,522
Repurchased amount \| $	$ 277
Average price per share \| $ / shares	$ 2.34

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Marketable Securities

6 Months Ended

Jun. 30, 2024

Marketable Securities [Abstract]

MARKETABLE SECURITIES

NOTE 3 - MARKETABLE SECURITIES:

The Company’s marketable securities include investments in equity securities of DNA GROUP (T.R.) Ltd. (formerly D.N.A Biomedical Solutions Ltd.) (“DNA”), Entera Bio Ltd. (“Entera”), and the Transferred Warrants (as defined herein; for further details, see note 4).

Composition

	June 30, 2024		December 31, 2023
Long-term:
DNA	$	330	$	297
Entera		215		70
Transferred Warrants (see note 4)		1,800		1,440
	$	2,345	$	1,807

General (Details) - USD ($) $ in Thousands		6 Months Ended
General (Details) - USD ($) $ in Thousands	Jan. 11, 2023	Jun. 30, 2024	Mar. 18, 2021
General [Line Items]
Placebo adjusted percentage	1.00%
Cash		$ 10,000
Aggregate amount		20,000
Joint Venture [Member]
General [Line Items]
Contribution in cash		$ 70,000
Oravax Medical Inc. [Member]
General [Line Items]
Interest rate			63.00%
HTIT [Member]
General [Line Items]
Interest rate		50.00%
Contribution in cash		$ 20,000
Common Stock [Member]
General [Line Items]
Cash		$ 10,000

Significant Accounting Policies (Details) - shares	3 Months Ended		6 Months Ended
Significant Accounting Policies (Details) - shares	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Significant Accounting Policies [Line Items]
Excluded from calculation of diluted net loss	3,993,552		4,206,451	3,694,057
Restricted Stock Units (RSUs) [Member]
Significant Accounting Policies [Line Items]
Excluded from calculation of diluted net loss		4,026,508

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Significant Accounting Policies [Abstract]

Schedule of Fair Value Measurements on a Recurring Basis

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

	June 30, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA (as defined below)		330		-		-		330
Entera (as defined below)		215		-		-		215
Transferred Warrants (see note 4)		1,800		-		-		1,800
Closing Penny Warrant (see note 4)		-		8,685		-		8,685
Subsequent Penny Warrants (see note 4)		-		-		15,038		15,038
The Note (see note 4)		-		-		66,206		66,206
	$	2,345	$	8,685	$	81,244	$	92,274

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA		297		-		-		297
Entera		70		-		-		70
Transferred Warrants (see note 4)		1,440		-		-		1,440
Closing Penny Warrant (see note 4)		-		9,180		-		9,180
Subsequent Penny Warrants (see note 4)		-		-		6,502		6,502
The Note (see note 4)		-		-		93,066		93,066
	$	1,807	$	9,180	$	99,568	$	110,555

Interim Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional paid-in capital	Accumulated deficit	Total stockholders’ equity	Non- controlling interests	Total
BALANCE at Dec. 31, 2022	$ 476	$ 314,417	$ (163,081)	$ 151,812	$ (656)	$ 151,156
BALANCE (in Shares) at Dec. 31, 2022	39,564
ISSUANCE OF COMMON STOCK, NET	$ 2	2,428		2,430		2,430
ISSUANCE OF COMMON STOCK, NET (in Shares)	193
STOCK-BASED COMPENSATION	$ 6	1,887		1,893		1,893
STOCK-BASED COMPENSATION (in Shares)	462
STOCK-BASED COMPENSATION OF SUBSIDIARY					100	100
NET INCOME (LOSS)			(4,589)	(4,589)	(335)	(4,924)
BALANCE at Jun. 30, 2023	$ 484	318,732	(167,670)	151,546	(891)	150,655
BALANCE (in Shares) at Jun. 30, 2023	40,219
BALANCE at Mar. 31, 2023	$ 481	316,965	(166,476)	150,970	(822)	150,148
BALANCE (in Shares) at Mar. 31, 2023	39,970
STOCK-BASED COMPENSATION	$ 3	1,767		1,770		1,770
STOCK-BASED COMPENSATION (in Shares)	249
STOCK-BASED COMPENSATION OF SUBSIDIARY					50	50
NET INCOME (LOSS)			(1,194)	(1,194)	(119)	(1,313)
BALANCE at Jun. 30, 2023	$ 484	318,732	(167,670)	151,546	(891)	150,655
BALANCE (in Shares) at Jun. 30, 2023	40,219
BALANCE at Dec. 31, 2023	$ 485	320,892	(157,556)	163,821	(928)	$ 162,893
BALANCE (in Shares) at Dec. 31, 2023	40,339					40,338,979
STOCK-BASED COMPENSATION	$ 3	2,493		2,496		$ 2,496
STOCK-BASED COMPENSATION (in Shares)	290
STOCK-BASED COMPENSATION OF SUBSIDIARY					27	27
NET INCOME (LOSS)			10,748	10,748	(10)	10,738
BALANCE at Jun. 30, 2024	$ 488	323,385	(146,808)	177,065	(911)	$ 176,154
BALANCE (in Shares) at Jun. 30, 2024	40,629					40,628,924
BALANCE at Mar. 31, 2024	$ 487	322,172	(156,020)	166,639	(918)	$ 165,721
BALANCE (in Shares) at Mar. 31, 2024	40,519
STOCK-BASED COMPENSATION	$ 1	1,213		1,214		1,214
STOCK-BASED COMPENSATION (in Shares)	110
STOCK-BASED COMPENSATION OF SUBSIDIARY					15	15
NET INCOME (LOSS)			9,212	9,212	(8)	9,204
BALANCE at Jun. 30, 2024	$ 488	$ 323,385	$ (146,808)	$ 177,065	$ (911)	$ 176,154
BALANCE (in Shares) at Jun. 30, 2024	40,629					40,628,924

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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+ Details

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 8 - SUBSEQUENT EVENTS:

Since June 30, 2024 and through the issuance date of these interim condensed consolidated financial statements, the Company repurchased 118,522 shares of its common stock under its buyback program for approximately $277 at an average price of $2.34 per share. All purchases were funded with cash on hand.

Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 84,753	$ 9,055
Short-term deposits	1,778	95,279
Investments at fair value	66,206	57,713
Prepaid expenses and other current assets	533	537
Total current assets	153,270	162,584
LONG-TERM ASSETS:
Long-term deposits	2	7
Investments at fair value	23,723	51,035
Marketable securities	2,345	1,807
Other non-marketable equity securities	3,524	3,524
Amounts funded in respect of employee rights upon retirement	28	27
Property and equipment, net	765	873
Operating lease right-of-use assets	566	694
Total long-term assets	30,953	57,967
Total assets	184,223	220,551
CURRENT LIABILITIES:
Accounts payable and accrued expenses	3,483	1,609
Short-term borrowings		51,013
Payable to related parties		325
Operating lease liabilities	250	267
Total current liabilities	3,733	53,214
LONG-TERM LIABILITIES:
Long-term deferred revenues	4,000	4,000
Employee rights upon retirement	29	28
Provision for uncertain tax position	11	11
Operating lease liabilities	236	342
Other liabilities	60	63
Total long-term liabilities	4,336	4,444
EQUITY ATTRIBUTABLE TO COMPANY’S STOCKHOLDERS:
Common stock, $0.012 par value (60,000,000 authorized shares; 40,628,924 and 40,338,979 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively)	488	485
Additional paid-in capital	323,385	320,892
Accumulated deficit	(146,808)	(157,556)
Total stockholders’ equity	177,065	163,821
Non-controlling interests	(911)	(928)
Total equity	176,154	162,893
Total liabilities and equity	$ 184,223	$ 220,551

Accounting Policies, by Policy (Policies)

6 Months Ended

Jun. 30, 2024

Significant Accounting Policies [Abstract]

Condensed consolidated financial statements preparation

Condensed consolidated financial statements preparation

earnings (loss) per common share

earnings (loss) per common share

The weighted average number of stock options, warrants and RSUs excluded from the calculation of the diluted net income was 4,206,451 for the six month period ended June 30, 2024.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of the diluted net loss was 3,694,057 for the six month period ended June 30, 2023.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of diluted income was 3,993,552 for the three month period ended June 30, 2024.

The weighted average number of stock options, warrants and RSUs excluded from the calculation of diluted net loss was 4,026,508 for the three month period ended June 30, 2023.

Recently issued accounting pronouncements, not yet adopted

Recently issued accounting pronouncements, not yet adopted

Fair value

Fair value

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.

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

	June 30, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA (as defined below)		330		-		-		330
Entera (as defined below)		215		-		-		215
Transferred Warrants (see note 4)		1,800		-		-		1,800
Closing Penny Warrant (see note 4)		-		8,685		-		8,685
Subsequent Penny Warrants (see note 4)		-		-		15,038		15,038
The Note (see note 4)		-		-		66,206		66,206
	$	2,345	$	8,685	$	81,244	$	92,274

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Marketable Securities
DNA		297		-		-		297
Entera		70		-		-		70
Transferred Warrants (see note 4)		1,440		-		-		1,440
Closing Penny Warrant (see note 4)		-		9,180		-		9,180
Subsequent Penny Warrants (see note 4)		-		-		6,502		6,502
The Note (see note 4)		-		-		93,066		93,066
	$	1,807	$	9,180	$	99,568	$	110,555

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

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

LEASES

NOTE 6 - LEASES:

	June 30, 2024		December 31, 2023
Operating right-of-use assets	$	566	$	694

Operating lease liabilities, current		250		267
Operating lease liabilities long-term		236		342
Total operating lease liabilities	$	486	$	609

During the six month period ended June 30, 2024, the Company terminated a vehicle lease mid-term. The Company derecognized a right-of-use asset of $26 and a lease liability of $23.

During the six month period ended June 30, 2024, the Company leased a vehicle for a period of three years. As a result, the Company recognized a right-of-use asset and a lease liability of $58.

Lease payments for the Company’s right-of-use assets over the remaining lease periods as of June 30, 2024 and December 31, 2023 are as follows:

	June 30, 2024			December 31, 2023
2024		132			282
2025		218			222
2026		137			120
2027		18			10
Total undiscounted lease payments		505			634
Less: Interest*		(19	)		(25	)
Present value of lease liabilities	$	486		$	609

Future lease payments were discounted by 3%-7% interest rate.

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

Marketable Securities [Abstract]

Schedule of Marketable Securities Include Investments in Equity Securities

	June 30, 2024		December 31, 2023
Long-term:
DNA	$	330	$	297
Entera		215		70
Transferred Warrants (see note 4)		1,800		1,440
	$	2,345	$	1,807