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Consolidated Statements of Cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net loss for the year $ (8,995) $ (13,945) $ (24,221)
Adjustments for operating activities:      
Depreciation 70 53 67
Capital Loss 7 0 0
Share-based compensation [1] 623 617 1,491
Change in other receivables and prepaid expenses (1,143) (487) 903
Change in trade payables (177) 117 (1,172)
Change in accrued expenses [2] (1,202) (1,887) 45
Change in employees and related expenses [3] (278) 111 (737)
Change in operating leases (35) 35 13
Net cash used in operating activities (11,130) (15,386) (23,611)
Cash flows from investing activities      
Decrease in short-term deposits 5,393 2,297 15,882
Proceeds from sale of property and equipment [4] 0 0
Purchase of property and equipment (3) 0 (3)
Net cash provided by investing activities 5,390 2,297 15,879
Cash flows from financing activities      
Exercise of options 12 0 0
Sale of treasury share 0 0 580
Issuance of shares net of issuance costs 7,145 9,868 2,924
Net cash provided by financing activities 7,157 9,868 3,504
Change in cash, cash equivalents and restricted cash 1,417 (3,221) (4,228)
Cash, cash equivalents and restricted cash at beginning of the year 6,147 9,368 13,596
Cash, cash equivalents and restricted cash at end of the year 7,564 6,147 9,368
A. Cash paid and received during the year for:      
Income taxes received 0 0 187
Interest received 610 814 1,463
B. Significant non- cash transaction:      
Right-of-use asset recognized with corresponding lease liability 0 0 392
Receivables on account of shares issued, net 44 0 0
Issuance costs not paid in cash $ 32 $ 0 $ 0
[1] Includes expenses related to related parties of $389 thousand, $427 thousand and $1,304 thousand for the years ended December 31, 2025, 2024 and 2023, respectively. See Note 12.
[2] Includes changes in balances due to related parties of ($1) thousand and $1 thousand for the years ended December 31, 2025 and 2024, respectively. See Note 12.
[3] Includes changes in balances due to related parties of ($73) thousand and $41 thousand for the years ended December 31, 2025 and 2024, respectively. See Note 12.
[4] Less than 1 thousand