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STOCKHOLDERS' EQUITY | 9 Months Ended
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Mar. 31, 2014
STOCKHOLDERS' EQUITY [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 6: - STOCKHOLDERS' EQUITY
| a. | From July 2013 through March 2014, a total of 2,244,574 warrants were exercised via "cashless" exercise, resulting in the issuance of 1,350,907 shares of common stock to investors of the Company. In addition, 1,359,204 warrants were exercised for cash and resulted in the issuance of 1,359,204 shares of common stock to investors of the Company. The aggregate cash consideration received was $1,859. In August 2013, a total of 15,000 warrants were exercised via a "cashless" exercise, resulting in the issuance of 5,905 shares of common stock to a consultant of the Company. Additionally, 16,500 options were exercised by employees and consultants, resulting in an issuance of 16,500 shares of common stock.
| b. | Following a shelf registration on Form S-3 filed and declared effective in October 2011, the Company entered in December 2012 into an At Market Issuance Sales Agreement ("ATM Agreement") with an underwriter, which provides that, upon the terms and subject to the conditions and limitations set forth in the ATM Agreement, the Company may elect, from time to time, to issue and sell shares of common stock having an aggregate offering price of up to $95,000 through the underwriter as a sales agent. The Company is not obligated to make any sales of common stock under the ATM Agreement.
During the three and nine months period ended March 31, 2014, the Company issued 2,433,786 shares of common stock and raised approximately $ 10,149, net of issuance expenses of $184, under the ATM Agreement.
| c. | Options, warrants and restricted stock units to employees, directors and consultants:
| 1. | Options to employees and directors:
The Company has approved two incentive option plans from 2003 and from 2005 (collectively, the "Plans"). The Company accounted for its options to employees and directors in accordance with ASC 718, "Compensation - Stock Compensation". A summary of the Company's share option activity for options granted to employees and directors under the Plans is as follows:
|  | Nine months ended March 31, 2014 (Unaudited) |
|  | Number |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Terms (in years) |  |  | Aggregate Intrinsic Value Price |
Options outstanding at beginning of period |  |  | 1,958,156 |  |  | $ | 4.01 |  |  |  |  |  |  |
Options exercised |  |  | (15,000 | ) |  | $ | 0.83 |  |  |  |  |  |  |
Options forfeited |  |  | (81,057 | ) |  | $ | 11.59 |  |  |  |  |  |  |
Options outstanding at end of the period |  |  | 1,862,099 |  |  | $ | 3.73 |  |  |  | 3.37 |  |  | $ | 1,461 |
Options exercisable at the end of the period |  |  | 1,862,099 |  |  | $ | 3.73 |  |  |  | 3.37 |  |  | $ | 1,461 |
Options vested |  |  | 1,862,099 |  |  | $ | 3.73 |  |  |  | 3.37 |  |  | $ | 1,461 |
Intrinsic value of exercisable options (the difference between the Company's closing stock price on the last trading day in the period and the exercise price, multiplied by the number of in-the-money options) represents the amount that would have been received by the employees and directors option holders had all option holders exercised their options on March 31, 2014. This amount changes based on the fair market value of the Company's common stock.
| 2. | Options and warrants to non-employees:
A summary of the Company's activity related to options and warrants to consultants is as follows:
|  | Nine months ended March 31, 2014 (Unaudited) |
|  | Number |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Terms (in years) |  |  | Aggregate Intrinsic Value Price |
Options and warrants outstanding at beginning of period |  |  | 315,500 |  |  | $ | 4.40 |  |  |  |  |  |  |
Options granted |  |  | 3,000 |  |  | $ | 0.00 |  |  |  |  |  |  |
Options and warrants exercised |  |  | (16,500 | ) |  | $ | 1.74 |  |  |  |  |  |  |
Options and warrants outstanding at end of the period |  |  | 302,000 |  |  | $ | 4.54 |  |  |  | 3.52 |  |  | $ | 535 |
Options and warrants exercisable at the end of the period |  |  | 300,000 |  |  | $ | 4.54 |  |  |  | 3.45 |  |  | $ | 528 |
Options and warrants vested and expected to vest |  |  | 302,000 |  |  | $ | 4.54 |  |  |  | 3.52 |  |  | $ | 535 |
Compensation expenses related to options and warrants granted to consultants were recorded as follows:
|  | Nine months ended March 31, |  |  | Three months ended March 31, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Research and development expenses |  | $ | 7 |  |  | $ | - |  |  | $ | 7 |  |  | $ | - |
General and administrative expenses |  |  | - |  |  |  | 24 |  |  |  | - |  |  |  | 3 |
|  | $ | 7 |  |  | $ | 24 |  |  | $ | 7 |  |  | $ | 3 |
| 3. | Restricted stock units to employees and directors:
During the nine month period ended March 31, 2014, the Company granted restricted stock units to several of the Company's employees and directors. The following table summarizes the activities for unvested restricted stock units granted to employees and directors for the nine months ended March 31, 2014 (Unaudited):
|  | Number |
Unvested at the beginning of period |  |  | 1,660,525 |
Granted |  |  | 1,224,908 |
Forfeited |  |  | (34,979 | )
Vested |  |  | (936,299 | )
Unvested at the end of the period |  |  | 1,914,155 |
Expected to vest after March 31, 2014 |  |  | 1,872,940 |
Compensation expenses related to restricted stock units granted to employees and directors were recorded as follows:
|  | Nine months ended March 31, |  |  | Three months ended March 31, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Research and development expenses |  | $ | 656 |  |  | $ | 573 |  |  | $ | 442 |  |  | $ | 92 |
General and administrative expenses |  |  | 3,299 |  |  |  | 1,299 |  |  |  | 1,196 |  |  |  | 270 |
|  | $ | 3,955 |  |  | $ | 1,872 |  |  | $ | 1,638 |  |  | $ | 362 |
Future expenses related to restricted stock units granted to employees and directors for an average time of approximately 2 years is $3,968.
| 4. | Restricted stock units to consultants:
During the nine month period ended March 31, 2014, the Company granted restricted stock units to several consultants and service providers. The following table summarizes the activities for unvested restricted stock units granted to consultants for the nine months ended March 31, 2014:
|  | Number |
Unvested at the beginning of period |  |  | - |
Granted |  |  | 71,460 |
Forfeited |  |  | - |
Vested |  |  | (40,300 | )
Unvested at the end of the period |  |  | 31,160 |
Expected to vest after March 31, 2014 |  |  | 31,160 |
Compensation expenses related to restricted stock units granted to consultants were recorded as follows:
|  | Nine months ended March 31, |  |  | Three months ended March 31, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Research and development expenses |  | $ | 59 |  |  | $ | 209 |  |  | $ | 42 |  |  | $ | 55 |
General and administrative expenses |  |  | 157 |  |  |  | 278 |  |  |  | 157 |  |  |  | - |
|  | $ | 216 |  |  | $ | 487 |  |  | $ | 199 |  |  | $ | 55 |

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- 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 -Topic 235 -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 S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: 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 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: 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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: 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 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: 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 + Details
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