View Filing Data

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Nov. 30, 2014	Jan. 06, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2014
Entity Registrant Name	ORAMED PHARMACEUTICALS INC.
Entity Central Index Key	0001176309
Current Fiscal Year End Date	--08-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,833,131

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 30, 2014	Aug. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 6,656	$ 1,762
Short term deposits	17,026	18,481
Marketable securities	688	1,047
Restricted cash	16	16
Prepaid expenses and other current assets	120	64
Related parties		330
Grants receivable from the chief scientist	27	78
Total current assets	24,533	21,778
LONG TERM DEPOSITS AND INVESTMENT	5	3
AMOUNTS FUNDED IN RESPECT OF EMPLOYEE RIGHTS UPON RETIREMENT	7	7
PROPERTY AND EQUIPMENT, NET	15	14
Total assets	24,560	21,802
CURRENT LIABILITIES:
Accounts payable and accrued expenses	795	926
Related Parties	32	47
Total current liabilities	827	973
LONG TERM LIABILITIES:
Employee rights upon retirement	9	9
Provision for uncertain tax position	27	27
Total long term liabilities	36	36
COMMITMENTS (note 2)
STOCKHOLDERS' EQUITY:
Common stock, $ 0.012 par value (30,000,000 authorized shares; 10,812,471 and 10,102,555 shares issued and outstanding as of November 30, 2014 and August 31, 2014, respectively)	129	121
Additional paid-in capital	53,191	48,040
Accumulated other comprehensive income	93	452
Accumulated loss	(29,716)	(27,820)
Total stockholders' equity	23,697	20,793
Total liabilities and stockholders' equity	$ 24,560	$ 21,802

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Nov. 30, 2014	Aug. 31, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]
Common stock, par value per share	$ 0.012	$ 0.012
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	10,812,471	10,102,555
Common stock, shares outstanding	10,812,471	10,102,555

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]
RESEARCH AND DEVELOPMENT EXPENSES, NET	$ 1,302	$ 750
GENERAL AND ADMINISTRATIVE EXPENSES	600	418
OPERATING LOSS	1,902	1,168
FINANCIAL INCOME	(27)	(46)
FINANCIAL EXPENSES	21	2
NET LOSS FOR THE PERIOD	1,896	1,124
SUBSEQUENT DECREASE (INCREASE) IN THE FAIR VALUE OF AVAILABLE FOR SALE SECURITIES PREVIOUSLY WRITTEN DOWN AS IMPAIRED	9	(5)
RECLASSIFICATION ADJUSTMENT TO FINANCIAL INCOME OF GAINS ON AVAILABLE-FOR-SALE SECURITIES		18
UNREALIZED LOSS (GAIN) ON AVAILABLE FOR SALE SECURITIES	350	(44)
TOTAL OTHER COMPREHENSIVE LOSS (INCOME)	359	(31)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ 2,255	$ 1,093
LOSS PER COMMON SHARE:
BASIC AND DILUTED LOSS PER COMMON SHARE	$ 0.19	$ 0.14
WEIGHTED AVERAGE NUMBER OF COMMON SHARES USED IN COMPUTING BASIC AND DILUTED LOSS PER COMMON STOCK	10,142,013	7,941,059

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 3 months ended Nov. 30, 2014 - USD ($)
shares in Thousands, $ in Thousands

Total

Common Stock [Member]

Additional paid-in capital [Member]

Accumulated other comprehensive income [Member]

Accumulated loss [Member]

BALANCE at Aug. 31, 2014

$ 20,793

$ 121

$ 48,040

$ 452

$ (27,820)

BALANCE, shares at Aug. 31, 2014

10,103

SHARES ISSUED FOR CASH, NET

4,833

$ 8

4,825

SHARES ISSUED FOR CASH, NET, shares

696

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, shares

STOCK BASED COMPENSATION

300

^[2]

300

STOCK BASED COMPENSATION, shares

NET LOSS

(1,896)

OTHER COMPREHENSIVE LOSS

(359)

BALANCE at Nov. 30, 2014

$ 23,697

$ 129

$ 53,191

$ 93

$ (29,716)

BALANCE, shares at Nov. 30, 2014

10,812

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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

Nov. 30, 2014

Nov. 30, 2013

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$ (1,896)

$ (1,124)

Adjustments required to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

Exchange differences and interest on deposits

(9)

(22)

Stock based compensation

300

204

Common stock issued for services

Gain on sale of investment

(18)

Changes in operating assets and liabilities:

Prepaid expenses, other current assets and related parties

325

(25)

Accounts payable, accrued expenses and related parties

(146)

170

Liability for employee rights upon retirement

Total net cash used in operating activities

(1,399)

(748)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(2)

(5)

Purchase of short term deposits

(820)

(4,300)

Proceeds from sale of short term deposits

2,300

4,100

Proceeds from sale of marketable securities

Funds in respect of employee rights upon retirement

^[1]

Other

(2)

Total net cash derived from (used in) investing activities

1,476

(162)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock - net of issuance expenses

^[2]

4,833

Net cash derived from financing activities

4,833

EFFECT OF EXCHANGE RATE CHANGES ON CASH

(16)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

4,894

(901)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

1,762

2,272

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$ 6,656

$ 1,371

[1]	Represents an amount of less than $1.
[2]	See note 5.

SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Nov. 30, 2014

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES:

General:

Incorporation and operations

Oramed Pharmaceuticals Inc. (the “Company”) was incorporated on April 12, 2002, under the laws of the State of Nevada. On February 17, 2006, the Company entered into an agreement with Hadasit Medical Services and Development Ltd (“Hadasit”) to acquire the provisional patent related to an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes.

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

On May 14, 2007, the Company incorporated a wholly-owned subsidiary in Israel, Oramed Ltd. (the “Subsidiary”), which is engaged in research and development. Unless the context indicates otherwise, the term “Group” refers to Oramed Pharmaceuticals Inc. and the Subsidiary.

Following the adoption of Accounting Standards Update (“ASU”) 2014-10, Development Stage Entities (Topic 915), the Company removed the inception to date information and all reference to development.

Development and liquidity risks

The Group 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 any revenues from its operations. Continued operation of the Company is contingent upon obtaining sufficient funding until it becomes profitable.

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 (“FDA”) prior to selling its products within the United States, and foreign regulatory approvals must be obtained to sell its products internationally. 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.

Based on its current cash resources and commitments, and cash received in private and public offerings in the three month period ended November 30, 2014 and in the year ended August 31, 2014, 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 and beyond the date that the financial statements are issued, although no assurance can be given that it will not need additional funds prior to such time. If there are unexpected increases in general and administrative expenses or research and development expenses, the Company may need to seek additional financing during the next 12 months.

Newly issued and recently adopted Accounting Pronouncements

In August 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern (“ASU 2014-15”). This new standard requires management to assess the entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU 2014-15 will be effective prospectively for annual reporting periods ending after the first annual period ending after December 15, 2016 and interim periods therein. Early application of the standard is permitted for any annual reporting period or interim period for which the entity's financial statements have not yet been issued. The Company has elected to early adopt the provisions of ASU 2014-15 in fiscal year 2014. The adoption of ASU 2014-15 did not have any material effect on the consolidated financial statement presentation.

Condensed Consolidated Financial Statements Preparation

The condensed consolidated financial statements included herein have been prepared in accordance with United States generally accepted accounting principles ("U.S. GAAP") and on the same basis as the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2014 (the “2014 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 2014 Form 10-K. The results for interim periods are not necessarily indicative of a full fiscal year's results.

COMMITMENTS

3 Months Ended

Nov. 30, 2014

COMMITMENTS [Abstract]

COMMITMENTS

NOTE 2 - COMMITMENTS:

On September 11, 2011, the Subsidiary entered into an agreement with Hadasit, the Company's Medical and Chief Technology Officer (the “CTO”) and Dr. Daniel Schurr (the “Hadasit Agreement”) to retain consulting and clinical trial services. According to the Hadasit Agreement, Hadasit will be entitled to a consideration of $200 to be paid by the Company in accordance with the actual progress of the studies, $95 of which were recognized through November 30, 2014. See also note 1a(1).

On February 15, 2011, the Subsidiary entered into a consulting agreement with a third party (the “Consultant”) for a period of five years, pursuant to which the Consultant will provide consultation on scientific and clinical matters. The Consultant is entitled to a fixed monthly fee of $8, royalties of 8% of the net royalties actually received by the Subsidiary in respect of the patent that was sold to Entera Bio Ltd. (“Entera”) on March 31, 2011 and an option to purchase up to 20,834 shares of the Company at an exercise price of $6.00 per share. The option vests in five annual installments commencing February 16, 2012 and expires on February 16, 2021. The fair value of the option as of November 30, 2014 was $107, using the following assumptions: dividend yield of 0% and expected term of 6.21 years; expected volatility of 80.45%; and risk-free interest rate of 1.89%. The fair value of the unvested options is remeasured at each balance sheet reporting date and is recognized over the related service period using the straight-line method.

c.On April 28, 2013, the Subsidiary entered into a new lease agreement for its office facilities in Israel, which replaced the lease agreement from 2012. The new lease agreement is for a period of 36 months commencing November 4, 2013. The annual lease payment is NIS 89,000 from 2014 through 2016, and will be linked to the increase in the Israeli consumer price index (“CPI”) (as of November 30, 2014, the future annual lease payments under the new agreement will be $22, based on the exchange rate as of November 30, 2014).

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

On May 13, 2014, the Company entered into a consulting agreement with a third party advisor for a period of twelve months, pursuant to which the advisor will provide investor relations services and will be entitled to receive a monthly cash fee and 15,000 shares of the Company's common stock that will be issued in four equal installments, on each of August 1, 2014, November 1, 2014, February 1, 2015 and May 1, 2015. As of November 30, 2014, the Company issued to such advisor 7,500 shares. The aggregate fair value of the shares at the dates of the grant was $64.

On February 6, 2014, the Subsidiary entered into a second agreement with a clinical research organization (“CRO”), for its Phase IIa clinical trial for an oral insulin capsule for type 1 diabetes patients, which was completed in October 2014. As consideration for its services, the Subsidiary paid the CRO a total amount of approximately $280 during the term of the engagement and based on achievement of certain milestones, all of which were recognized through November 30, 2014.

On July 22, 2014, the Subsidiary entered into a third agreement with the same CRO, for its Phase IIb clinical trial for an oral insulin capsule for type 2 diabetes patients, which is expected to begin in the first quarter of calendar year 2015. As consideration for its services, the Subsidiary will pay the CRO a total amount of approximately $3,290 that will be paid during the term of the engagement and based on achievement of certain milestones, $595 of which were recognized through November 30, 2014.

On March 3, 2014, the Subsidiary entered into an additional agreement with a vendor, for the process development and production of one of its oral capsule ingredients in the amount of $311, $40 of which were recognized through November 30, 2014, and bonus payments of up to $600 that will be paid upon achieving certain milestones, as described in the agreement, none of which were recognized through November 30, 2014.

On May 15, 2014, the Subsidiary entered into an additional agreement with the same vendor, for the process development and production of the same capsule ingredients in the amount of $217, $174 of which was recognized through November 30, 2014.

On May 26, 2014, the Subsidiary entered into a supply agreement with another vendor, according to which the vendor will manufacture insulin capsules for total consideration of $214, $134 of which were recognized through November 30, 2014.

Grants from Bio-Jerusalem

The Subsidiary is committed to pay royalties to the Bio-Jerusalem fund on proceeds from future sales at a rate of 4% and up to 100% of the amount of the grant received by the Company (Israeli CPI linked) at the total amount of $65. As of November 30, 2014, the Subsidiary had not yet realized any revenues and did not incur any royalty liability.

During the three month period ended November 30, 2014, the Company received no grants from the Bio-Jerusalem fund.

Grants from the Office of the Chief Scientist of the Ministry of Economy (formerly the Ministry of Industry, Trade and Labor) of Israel ("OCS").

Under the terms of the Company's funding from the OCS, royalties of 3%-3.5% are payable on sales of products developed from a project so funded, up to 100% of the amount of the grant received by the Company (dollar linked) with the addition of annual interest at a rate based on LIBOR.

At the time the grants were received, successful development of the related projects was not assured. In case of failure of a project that was partly financed as above, the Company is not obligated to pay any such royalties.

As of November 30, 2014, the Subsidiary had not yet realized any revenues from said projects and did not incur any royalty liability. The total amount that was actually received through November 30, 2014 was $2,134.

For the three month periods ended November 30, 2014 and 2013, the research and development expenses are presented net of OCS and Bio-Jerusalem fund grants, in the total amount of $16 and $67, respectively.

FAIR VALUE

3 Months Ended

Nov. 30, 2014

FAIR VALUE [Abstract]

FAIR VALUE

NOTE 3 - FAIR VALUE:

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.

As of November 30, 2014, the assets or liabilities measured at fair value were comprised of available for sale securities (Level 1). See also note 4.

As of November 30, 2014, the carrying amount of cash and cash equivalents, short term deposits, other current assets, accounts payables and accrued expenses approximates their fair values due to the short-term maturities of these instruments.

The fair value of long-term deposits also approximates their carrying value, since they bear interest at rates close to the prevailing market rates. The amounts funded in respect of employee rights are stated at cash surrender value which approximates its fair value.

- Definition

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

+ References + Details

MARKETABLE SECURITIES	3 Months Ended
MARKETABLE SECURITIES	Nov. 30, 2014
MARKETABLE SECURITIES [Abstract]
MARKETABLE SECURITIES	NOTE 4 - MARKETABLE SECURITIES: Available-for-sale securities are reported at fair value, with unrealized gains and losses, recorded as a separate component of other comprehensive income in equity until realized. Unrealized losses that are considered to be other-than-temporary are charged to statement of operations as an impairment charge and are included in the consolidated statement of operations under impairment of available-for-sale securities. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost, and the Company's ability and intent to hold the investment. Realized gains and losses on sales of the securities are included in the consolidated statement of operations as financial income or expenses. As of November 30, 2014, marketable securities consisted wholly of equity securities of D.N.A Biomedical Solutions Ltd ("D.N.A"). D.N.A's ordinary shares are traded on the Tel Aviv Stock Exchange and have a quoted price. The fair value of those securities is measured at the quoted prices of the securities on the measurement date. During the three month period ended November 30, 2013, the Subsidiary sold in aggregate 1,025,989 of the D.N.A ordinary shares for a total of $43. During the three month period ended November 30, 2014, the Group did not sell any of the D.N.A ordinary shares. As of November 30, 2014, the Group owns approximately 9.8% of D.N.A's outstanding ordinary shares. The cost of the securities as of November 30 and August 31, 2014 is $595. The cost of the securities sold and the amount reclassified out of accumulated other comprehensive income into financial income (amounting to $0 and $18 during the three month periods ended November 30, 2014 and 2013, respectively) were determined by specific identification. As of November 30 and August 31, 2014, the available-for-sale securities are classified as Level 1.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

STOCK HOLDERS' EQUITY	3 Months Ended
STOCK HOLDERS' EQUITY	Nov. 30, 2014
STOCK HOLDERS' EQUITY [Abstract]
STOCK HOLDERS' EQUITY	NOTE 5 - STOCK HOLDERS' EQUITY: On November 3, 2014, the Company entered into a Stock Purchase Agreement with Guangxi Wuzhou Pharmaceutical (Group) Co., Ltd. (the “Investor”), pursuant to which the Investor agreed to buy and the Company agreed to sell an aggregate of 696,378 shares of common stock, or the Shares, at a price of $7.18 per Share, which was equal to the closing price of the Company's common stock on the Nasdaq Capital Market on October 31, 2014, for aggregate gross proceeds of approximately $5,000. The net proceeds to the Company from the offering were approximately $4,833, after deducting a finder's fee of $150 and other offering expenses of the Company. The offering closed on November 28, 2014.

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
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-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 29, 30, 31
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

STOCK BASED COMPENSATION

3 Months Ended

Nov. 30, 2014

STOCK BASED COMPENSATION [Abstract]

STOCK BASED COMPENSATION

NOTE 6 - STOCK BASED COMPENSATION:

On November 13, 2014, the Company granted a total of 19,576 restricted stock units (“RSUs”) representing a right to receive shares of the Company's common stock to the Company's Chief Executive Officer and director (the “CEO”), and the CTO, both related parties. The RSUs vest in two equal installments, each of 9,788 shares on November 30 and December 31, 2014. The total fair value of these RSUs on the date of grant was $135, using the quoted closing market share price of $6.90 on the Nasdaq Capital Market on the date of grant.

On November 13, 2014, the Company granted a total of 10,872 RSUs representing a right to receive shares of the Company's common stock to four members of the Company's Board of Directors. The RSUs vest on January 1, 2015. The total fair value of these RSUs on the date of grant was $75, using the quoted closing market share price of $6.90 on the Nasdaq Capital Market on the date of grant.

RELATED PARTIES - TRANSACTIONS	3 Months Ended
RELATED PARTIES - TRANSACTIONS	Nov. 30, 2014
RELATED PARTIES - TRANSACTIONS [Abstract]
RELATED PARTIES - TRANSACTIONS	NOTE 7 - RELATED PARTIES - TRANSACTIONS On July 1, 2008, the Subsidiary entered into two consulting agreements with KNRY Ltd. (“KNRY”), an Israeli company owned by the CEO, whereby the CEO and the CTO, through KNRY, provide services to the Group (the “Consulting Agreements”). The Consulting Agreements are both terminable by either party upon 60 days prior written notice. The Consulting Agreements provide that KNRY (i) will be paid a gross amount of NIS 50,400 per month for each of the CEO and CTO ($14) and (ii) will be reimbursed for reasonable expenses incurred in connection with performance of the Consulting Agreements. On July 17, 2013, the Subsidiary entered into amendments to the Consulting Agreements with KNRY, according to which, the CEO's and CTO's annual payment was set at $250 and $200, respectively, calculated at an exchange rate of NIS 3.6 per U.S. dollar, and in addition to such payment they were granted the use of a company car and certain cash bonus payments, effective July 1, 2013. On November 13, 2014, the Subsidiary entered into an amendment to the Consulting Agreements (the “Amendment Agreement”), according to which, the CEO and the CTO made some representations with regards to their relationship with KNRY and agreed to indemnify the Subsidiary in certain circumstances as defined in the amendment, among other revisions.

- 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 + Details

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Nov. 30, 2014
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENT In December 2014, the Subsidiary entered into an agreement with the same vendor as mentioned in note 2f, for the process development and production of the same capsule ingredient in the amount of $550 that will be paid upon achieving certain milestones, as described in the agreement.

SIGNIFICANT ACCOUNTING POLICIES (Policy)

3 Months Ended

Nov. 30, 2014

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

General

General:

Incorporation and operations

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

Development and liquidity risks

Newly issued and recently adopted Accounting Pronouncements

Condensed Consolidated Financial Statements Preparation

COMMITMENTS (Service Agreements) (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended	7 Months Ended	9 Months Ended	12 Months Ended	152 Months Ended
	May 13, 2014	Jul. 21, 2014	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2014	Nov. 30, 2014	Nov. 30, 2014	Aug. 31, 2011	Nov. 30, 2014
Long-term Purchase Commitment [Line Items]
Shares issued for services rendered			$ 26	$ 64
Hadasit [Member]
Long-term Purchase Commitment [Line Items]
Commitments for consulting services										$ 200
Consulting services										95
Consultant [Member]
Long-term Purchase Commitment [Line Items]
Agreement term									5 years
Commitments for consulting service, monthly fixed fee			$ 8		$ 8	$ 8	$ 8	$ 8		$ 8
Royalty percentage			8.00%		8.00%	8.00%	8.00%	8.00%		8.00%
Options granted									20,834
Options granted, exercise price									$ 6.00
Capitalized cost			$ 107
Dividend yield									0.00%
Expected term									6 years 2 months 16 days
Expected volatility									80.45%
Risk-free interest rate									1.89%
Advisor [Member]
Long-term Purchase Commitment [Line Items]
Shares authorized for issuance for services	15,000
Shares issued for services			7,500
Shares issued for services rendered			$ 64
Clinical Research Organization Service Agreement [Member]
Long-term Purchase Commitment [Line Items]
Commitments for consulting services		$ 3,290	$ 280
Consulting services					$ 595
Second Master Service Agreement [Member]
Long-term Purchase Commitment [Line Items]
Commitments for consulting services								$ 311
Commitments for bonus payments upon achieving certain milestones								600
Consulting services								40
Third Master Service Agreement [Member]
Long-term Purchase Commitment [Line Items]
Commitments for consulting services								217
Consulting services							$ 174
Fourth Master Service Agreement [Member]
Long-term Purchase Commitment [Line Items]
Commitments for consulting services								$ 214
Consulting services						$ 134

COMMITMENTS (Leases) (Details) - 3 months ended Nov. 30, 2014 - Office Building [Member] $ in Thousands	USD ($)	ILS (₪)
Operating Leased Assets [Line Items]
Operating lease term	36 months
Annual lease payments:
2015	$ 22	₪ 89,000
2016	$ 22	₪ 89,000

COMMITMENTS (Research Grants) (Details) - USD ($) $ in Thousands	3 Months Ended		152 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Grants received	$ 16	$ 67
Bio-Jerusalem [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty percentage	4.00%		4.00%
Royalty percentage, maximum percentage of grants received	100.00%		100.00%
Royalty liability	$ 0		$ 0
Grants receivable	$ 65		$ 65
Chief Scientist Office [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty percentage, maximum percentage of grants received	100.00%		100.00%
Grants received			$ 2,134
Chief Scientist Office [Member] \| Minimum [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty percentage	3.00%		3.00%
Chief Scientist Office [Member] \| Maximum [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty percentage	3.50%		3.50%

MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	3 Months Ended
MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	Nov. 30, 2014	Nov. 30, 2013	Aug. 31, 2014
MARKETABLE SECURITIES [Abstract]
Number of shares sold	0	1,025,989
Proceeds from sale of securities		$ 43
Ownership percentage	9.80%
Cost of securities	$ 595		$ 595
Amount reclassified to earnings		$ 18

STOCK HOLDERS' EQUITY (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Nov. 03, 2014

Nov. 30, 2014

Nov. 30, 2013

Net proceeds from the offering, after deducting a finder's fee

^[1]

$ 4,833

Stock Purchase Agreement with Guangxi Wuzhou Pharmaceutical (Group) Co., Ltd. [Member]

Number of shares to be sold

696,378

Per share price of shares to be sold

$ 7.18

Aggregate gross proceeds from the offering

$ 5,000

Net proceeds from the offering, after deducting a finder's fee

4,833

Finders fee

$ 150

[1]	See note 5.

STOCK BASED COMPENSATION (Details) - Restricted stock units [Member] $ / shares in Units, $ in Thousands		1 Months Ended
	Nov. 13, 2014 USD ($) item $ / shares shares	Dec. 31, 2014 shares
Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	10,872
Total fair value of awards on the date of grant \| $	$ 75
Quoted closing market share price \| $ / shares	$ 6.90
Chief Executive Officer and the CTO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	19,576
Number of equal installments in which awards will vest \| item	2
Awards vested		9,788
Total fair value of awards on the date of grant \| $	$ 135
Quoted closing market share price \| $ / shares	$ 6.90
Chief Executive Officer and the CTO [Member] \| Subsequent event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vested		9,788

RELATED PARTIES - TRANSACTIONS (Details) $ in Thousands	Jul. 01, 2008 USD ($) item	Jul. 17, 2013 USD ($)	Jul. 01, 2008 ILS (₪)
KNRY [Member]
Related Party Transaction [Line Items]
Number of consulting agreements entered \| item	2
Monthly payment under Consulting Agreements	$ 14		₪ 50,400
CEO [Member]
Related Party Transaction [Line Items]
Annual payment under Consulting Agreements		$ 250
Exchange rate (in NIS per U.S. dollar)		3.6
CTO [Member]
Related Party Transaction [Line Items]
Annual payment under Consulting Agreements		$ 200
Exchange rate (in NIS per U.S. dollar)		3.6

SUBSEQUENT EVENT (Details) $ in Thousands	1 Months Ended
SUBSEQUENT EVENT (Details) $ in Thousands	Dec. 31, 2014 USD ($)
Fifth Master Service Agreement [Member] \| Subsequent event [Member]
Subsequent Event [Line Items]
Commitments for bonus payments upon achieving certain milestones	$ 550