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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (34,203) $ (29,698) $ (27,337)
Adjustments required to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 4,276 2,772 2,408
Depreciation 461 715 989
Increase (decrease) in Severance pay, net (101) 184 (22)
Gain from property and equipment sales and disposals (3) (12) (135)
Decrease (increase) in interest receivables from short-term bank deposits 469 (532) 66
Decrease (increase) in trade receivables 2,000 (2,000)
Increase in other accounts receivable and prepaid expenses (2,802) (1,613) (142)
Decrease (increase) in long-term prepaid expenses (31) (1,187) 83
Decrease in operating lease right of use asset 525 475 2,165
Increase (decrease) in trade payables and other accounts payable and accrued expenses 3,367 3,817 (3,502)
Increase (decrease) in deferred participation in R&D expenses 3,708 (829) (627)
Decrease in operating lease liability (416) (412) (1,834)
Net cash used in operating activities (22,750) (28,320) (27,888)
Cash flows from investing activities:      
Proceeds from maturity of short-term bank deposits 136,850 70,300 59,403
Investment in short-term bank deposits (129,945) (152,350) (54,300)
Purchase of property and equipment (292) (166) (155)
Proceeds from sale of property and equipment 3 44 382
Net cash provided by (used in) investing activities 6,616 (82,172) 5,330
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares, net 14,958 74,147 22,758
Proceeds from exercise of warrants 425 18,325
Proceeds from exercise of stock-based awards 1,455 15,991 3,173
Net cash provided by financing activities 16,838 108,463 25,931
Increase (decrease) in cash, cash equivalents and restricted cash 704 (2,029) 3,373
Cash, cash equivalents and restricted cash at the beginning of the year 7,810 9,839 6,466
Cash and cash equivalents and restricted cash at the end of the year 8,514 7,810 9,839
Supplemental disclosure of non-cash investing and financing activities:      
Purchase of property and equipment 116 16 47
Receivables on account of shares 76
Right-of-use asset obtained in exchange for operating lease liability (194) 363
Cash paid (received) during the year for:      
Interest payments received from short-term bank deposits and cash equivalents 1,364 1,232 1,002
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 7,801 7,143 9,187
Restricted cash 713 667 652
Cash and cash equivalents and restricted cash at the end of the year $ 8,514 $ 7,810 $ 9,839