XML 57 R17.htm IDEA: XBRL DOCUMENT
v2.4.1.9

FAIR VALUE MEASUREMENTS | 12 Months Ended
--- | ---
Dec. 31, 2014
FAIR VALUE MEASUREMENTS [Abstract] |
FAIR VALUE MEASUREMENTS | NOTE 11:- FAIR VALUE MEASUREMENTS In accordance with ASC 820 "Fair Value Measurements and Disclosures", the Company measures its Investment in Evogene, foreign currency derivative contracts and embedded derivatives in connection with research and development funding arrangement at fair value. Investment in Evogene is classified within Level 1 because this asset is valued using quoted market prices. Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments. Embedded derivatives are classified within Level 3 because they are valued using valuation techniques. Some of the inputs to these models are unobservable in the market and are significant. The Company's financial assets and liabilities measured at fair value on a recurring basis, excluding accrued interest components, consisted of the following types of instruments as of the following dates:
|  | December 31, 2014 |
|  | Fair value measurements |
Description |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3 |
Investment in Evogene |  | $ | 1,054 |  | $ | 1,054 |  | $ | - |  | $ | - |
Foreign currency derivative contracts |  |  | 141 |  |  | - |  |  | 141 |  |  | - |
Total financial assets |  | $ | 1,195 |  | $ | 1,054 |  | $ | 141 |  | $ | - |
|  | December 31, 2013 |
|  | Fair value measurements |
Description |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3 |
Investment in Evogene |  | $ | 4,565 |  | $ | 4,565 |  | $ | - |  | $ | - |
Embedded Derivatives |  |  | (12,431 | ) |  | - |  |  | - |  |  | (12,431 | )
Fair value measurements using significant unobservable inputs (Level 3):
|  |  | Fair value of embedded derivatives |
Balance at January 1, 2013 *) |  | $ | 6,864 |
Fair value of Exchange Option within the proceeds under the mAb Funding Agreement |  |  | 4,756 |
Change in fair value of Exchange Option and embedded derivatives within research and development arrangement |  |  | 811 |
Balance at December 31, 2013 *) |  |  | 12,431 |
Change in fair value of Exchange Option and embedded derivatives within research and development arrangement |  |  | (269 | )
Issuance of shares in respect to Termination and Equity Conversion Agreement |  |  | (12,162 | )
Balance at December 31, 2014 |  | $ | - |
*) The amount on the balance sheet of the research and development funding arrangement includes also Research and Development Component of $ 421 and $ 758 as of December 31, 2014 and 2013, respectively, and fair value of liability with respect to outstanding options to non-employee, as mentioned below.
|  |  | Fair value of outstanding options to non- employee |
Balance at January 1, 2013 |  | $ | 264 |
Change in fair value of liability with respect to outstanding options to non- employee |  |  | (104 | )
Classification of portion liability with respect to outstanding options to non-employee to additional paid in capital |  |  | (160 | )
Balance at December 31, 2013 |  |  | - |

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13504-108611 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration