FAIR VALUE MEASURMENTS (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis

	Fair value of embedded derivatives

Balance at January 1, 2012	$	5,707

Fair value of Exchange Option within the 2012 proceeds under the second research and development arrangement		569
Change in fair value of Exchange Option and embedded derivatives within research and development arrangements		588

Balance at December 31, 2012 *)		6,864

Fair value of Exchange Option within the 2013 proceeds under the second research and development arrangement		4,756
Change in fair value of Exchange Option and embedded derivatives within research and development arrangements		(467	)

Balance at June 30, 2013 (unaudited) *)	$	11,153

The amount on the balance sheets of the research and development funding arrangements and others includes also a mAb Participation Interest in the amount of $ 884 and $ 744 as of June 30, 2013 and December 31, 2012, respectively, and fair value of liability with respect to outstanding options to a non-employee in the amount of $0 and $ 264 as of June 30, 2013 and December 31, 2012, respectively.

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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