0001178913-23-001272 | 10-K | XBRL Viewer

INCOME TAX (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
INCOME TAX (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Carryforward losses	$ 67.1	$ 56.1
Israeli tax rate [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate	23.00%
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate	29.00%

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 4 - COMMITMENTS AND CONTINGENCIES

a.	Commitment to pay royalties to the government of Israel

The Company is committed to pay royalties to the IIA on proceeds from sales of products in the research and development of which the Government participates by way of grants. At the time the grants were received, successful development of the related project was not assumed. In the case of failure of the project that was partly financed by the IIA, the Company is not obligated to pay any such royalties.

Under the terms of the Company’s funding from the IIA, royalties are payable on sales of products developed from IIA funded projects of 3% during the first three years from commencement of revenues, 4% during the subsequent three years and 5% commencing the seventh year up to 100% of the amount of the grant received by the Company (dollar linked) plus annual interest based on LIBOR. The amount that must be repaid may be increased to three times the amount of the grant received, and the rate of royalties may be accelerated, if manufacturing of the products developed with the grant money is transferred outside of the State of Israel. In addition, if the Company undergoes a change of control or otherwise transfers the technology “know-how” (as defined under the Research Law) in or outside of Israel, the amount that must be repaid will be increased up to six times.

The IIA has not yet declared the alternative benchmark rate to replace LIBOR. However, the Company does not believe it will have significant impact on the Company’s financial position or results of operations.

As of December 31, 2022, the total royalty amount that would be payable by the Company to the IIA, before the interest and payments as described above, was approximately $460. These grants were allocated to research and development.

Following the signing of the Amgen Agreement, the IIA determined that the Company should pay 5.38% of each payment received by the Company from Amgen on the license of Intellectual Property up to six times the grant received. As of December 31, 2022, the Company had paid a total amount of $83 to the IIA.

On June 1, 2010, D.N.A. Biomedical Solutions Ltd. ("D.N.A.") and Oramed Ltd., ("Oramed") entered into a joint venture agreement, (the "Joint Venture Agreement") for the establishment of Entera Bio Ltd. According to the Joint Venture Agreement each of D.N.A. and Oramed acquired 50% of the Company's ordinary shares. D.N.A invested $600 in the Company, and Oramed and the Company entered into a Patent License Agreement pursuant to which Oramed licensed to the Company one of Oramed’s patents (the “IPR&D”).

On February 22, 2011, Oramed and the Company entered into a patent transfer agreement, (the "Patent Transfer Agreement") that superseded the Patent License Agreement, whereby Oramed assigned to the Company all of its rights, title and interest to its patent that Oramed licensed to the Company in 2010, under certain conditions. Under this agreement, the Company is obligated to pay Oramed royalties equal to 3% of its net revenues (as defined in the Patent Transfer Agreement).

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2022	Mar. 27, 2023	Jun. 30, 2022
Cover [Abstract]
Entity Public Float			$ 32.9
Entity Registrant Name	Entera Bio Ltd.
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Entity Central Index Key	0001638097
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		28,809,922
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Shell Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Incorporation, State or Country Code	L3
Entity Address, Address Line One	Kiryat Hadassah
Entity Address, Address Line Two	Minrav Building - Fifth Floor
Entity Address, City or Town	Jerusalem
Entity Address, Postal Zip Code	9112002
Entity Address, Country	IL
City Area Code	972
Local Phone Number	2-532-7151
Document Transition Report	false
Entity File Number	001-38556
Entity Tax Identification Number	00-0000000
Trading Symbol	ENTX
Security Exchange Name	NASDAQ
Title of 12(b) Security	Ordinary shares
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Annual Report	true
Auditor Name	Kesselman & Kesselman
Auditor Location	Tel-Aviv, Israel
Auditor Firm ID	1309

INCOME TAX

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAX

NOTE 7 - INCOME TAX

A.	Corporate tax rate

Ordinary taxable income in Israel is subject to a corporate tax rate of 23%.

The Company’s subsidiary Entera Bio, Inc. is taxed separately under the U.S. tax laws at a tax rate of 29% (Federal and state tax)

B.	Losses for tax purposes carried forward to future years

	The balance of carryforward losses as of December 31, 2022 and 2021 are approximately $67.1 million and $56.1 million, respectively.

	Under Israeli tax law, tax loss carry forward have no expiration date.

C.	Tax assessments

	The Company and its subsidiary have tax assessments that are considered to be final through tax year 2017.

D.	Loss (income) before income taxes is composed of the following

	Year ended December 31
	2022			2021
Entera Bio Ltd.		12,997			12,362
Entera Bio Inc.		(65	)		(116	)
Total loss before taxes		12,934			12,246

E.	Income tax expense (benefit):

	Year ended December 31
	2022			2021
Current:
Subsidiary:		(37	)		158
Total current income tax		(37	)		158
Deferred income taxes		174			(217	)
Total deferred income taxes		174			(217	)
Total income tax expense (benefit)		137			(59	)

F.	Deferred income taxes

	December 31,
	2022			2021
Deferred tax assets:
Net operating loss carry forward		15,428			12,895
Research and development		1,225			1,319
Share-based compensation		877			876
Other		158			152
Net deferred tax assets before valuation allowance		17,688			15,242
Valuation allowance		(17,645	)		(15,025	)
Net deferred tax assets		43			217

The Company has classified the net deferred tax assets as long-term. In assessing the likelihood of realizing deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences and carry forward losses become deductible. Based on the taxable loss in the Israel, management believes it was more likely than not that the deferred tax assets will not be realized in the Israel and believes it was more likely than not that deferred tax assets will be realized for the U.S. subsidiary.

G.	Rollforward of valuation allowance:

Balance at January 1, 2021		12,420
Additions		2,605
Balance at January 1, 2022		15,025
Additions		2,620
Balance at December 31, 2022		17,645

H.	Reconciliation of theoretical tax expenses to actual expenses

The primary difference between the statutory tax rate of the Company and the effective rate results virtually from the changes in valuation allowance in respect of carry forward tax losses and research and development expenses due to the uncertainty of the realization of such tax benefits.

I.	Uncertain tax positions

As of December 31, 2022 and 2021, the Company does not have a provision for uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 9 - SUBSEQUENT EVENT

On January 2, 2023, 534,246 options to purchase ordinary shares were granted to six non-executive board members with an exercise price of $0.73 per share. The options will vest over one year in four equal quarterly installments starting on January 1, 2023. This grant was approved by the shareholders of the Company on October 4, 2021.

INCOME TAX (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Loss (income) before income taxes	$ 12,934	$ 12,246
Entera Bio Ltd
Operating Loss Carryforwards [Line Items]
Loss (income) before income taxes	12,997	12,362
Entera Bio Inc
Operating Loss Carryforwards [Line Items]
Loss (income) before income taxes	$ (65)	$ (116)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

a.	Basis of presentation of the financial statements

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). Prior to 2021, the Company prepared its financial statements in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), as permitted in the United States (“U.S.”) based on the Company’s status as a foreign private issuer as defined in the rules promulgated by the U.S. Securities and Exchange Commission (the “SEC”). During 2021, the Company determined that it is no longer qualified as a foreign private issuer under the SEC rules. As a result, since January 1, 2022, the Company has been required to comply with all of the disclosure and reporting requirements applicable to U.S. domestic issuers, including preparing its financial statement in accordance with U.S. GAAP.

b.	Use of estimates in the preparation of financial statements

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

c.	Functional currency

Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The U.S. dollar is the currency of the primary economic environment in which the operations of the Company are conducted. The consolidated financial statements are presented in U.S. dollars.

The functional currency of the subsidiary is the U.S. dollar.

Transactions and balances

Transactions and balances originally denominated in U.S. dollars are presented at their original amounts. Balances in non- U.S. dollar currencies are translated into U.S. dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For non-U.S. dollar transactions and other items in the statements of income (indicated below), the following exchange rates are used: (i) for transactions – exchange rates at transaction dates or average exchange rates; and (ii) for other items (derived from non-monetary balance sheet items such as depreciation and amortization) – historical exchange rates. Currency transaction gains and losses are presented in financial income (expenses), as appropriate.

d.	Principles of consolidation The consolidated financial statements include the accounts of the Company and its subsidiary Entera Bio Inc. All inter-company transactions and balances have been eliminated in consolidation.

Cash and cash equivalents

The Company considers as cash equivalents all short-term, highly liquid investments, which include short-term bank deposits with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash.

f.	Restricted cash Restricted cash deposited in an interest-bearing saving account which is used as a security for the Company's office rent and credit card.

g.	Concentrations of credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains cash held in checking accounts and deposits at financial institutions in major Israeli and U.S. banks. Management believes the Company is not exposed to significant credit risk to its current financial institution, but will continue to monitor regularly and adjust, if needed, to mitigate risk. The Company has established guidelines regarding diversification of its investments and their maturities, which are designed to maintain principal and maximize liquidity. To date, the Company has not experienced any losses associated with this credit risk and continues to believe that this exposure is not significant.

h.	Fair value measurement

The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable inputs that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

i.	Employee severance benefits

Under the Israeli Severance Pay Law, 1963, the Company is required to make severance payments upon dismissal of an Israeli employee or upon termination of employment in certain other circumstances. The severance payment liability to the employees located in Israel (based upon length of service and the latest monthly salary - one month’s salary for each year employed) is recorded on the Company’s balance sheet under “Liability for employee rights upon retirement.” The liability is recorded as if it was payable at each balance sheet date on an undiscounted basis.

In accordance with Section 14 of the Israeli Severance Pay Law, 1963, the Company makes regular deposits with certain insurance companies for accounts controlled by each applicable employee in order to secure the employee’s retirement benefit obligation. The Company is fully relieved from any severance pay liability with respect to each such employee after it makes the payments on behalf of the employee. The liability accrued in respect of these employees and the amounts funded, as of the respective agreement dates, are not reflected in the Company balance sheet, as the amounts funded are not under the control and management of the Company and the pension or severance pay risks have been irrevocably transferred to the applicable insurance companies (the “Contribution Plan”).

With regard to the period before December 2013, the liability is funded in part from the purchase of insurance policies or by the establishment of pension funds with dedicated deposits in the funds. The amounts used to fund these liabilities are included in the balance sheets under “Funds in respect of employee rights upon retirement”. These policies are the Company’s assets.

The amounts of severance payment expenses were $132 and $137 for the years ended December 31, 2022 and 2021, respectively.

The Company expects to contribute to insurance companies approximately $132 for the year ending December 31, 2023 in connection with its expected severance liabilities for that year.

j.	Leases

The Company determines if an arrangement is a lease at inception. Balances related to operating leases are included in operating lease right-of-use (“ROU”) assets and current and non-current operating lease liabilities in the consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized as of the commencement date based on the present value of lease payments over the lease term. Lease terms will include options to extend or terminate the lease when it is reasonably certain that the Company will either exercise or not exercise the option to renew or terminate the lease.

The discount rate for the lease is the rate implicit in the lease unless that rate cannot be readily determined. As the Company’s leases do not provide an implicit rate, the Company’s uses its estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

Sublease income is recognized on a straight-line basis over the expected lease term and is included in other income in our consolidated statements of operations.

k.	Property and equipment

Property and equipment are stated at cost, net of accumulated depreciation and amortization.

The Company’s property and equipment are depreciated using the straight-line method, which approximates the pattern of usage, over the term of the estimated useful life, as follows:

		Years

Computer equipment		3-5
Office furniture		10
Laboratory equipment		7-10

Leasehold improvements are amortized by the straight-line method over the shorter of (i) the expected lease term and (ii) the estimated useful life of the improvements.

l.	Impairment of long-lived assets

The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. Recoverability of long-lived assets is measured by comparing the carrying amount of the long-lived asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the sum of the expected undiscounted cash flow is less than the carrying amount of the asset, the Company recognizes an impairment loss, which is the excess of the carrying amount over the fair value of the asset, using the expected future discounted cash flows.

As of December 31, 2022 and 2021, the Company did not recognize an impairment loss on its long-lived assets.

m.	Share-based compensation

The Company grants share options and restricted share units (“RSU”) (together “Share-Based Compensation”) to its employees, directors and non-employees in consideration for services rendered.

The Company accounts for Share-Based Compensation awards classified as equity awards, including share-based option awards and RSUs, using grant-date fair value. The Company recognize the value of the award as an expense over the requisite service period.

The Company applies ASU 2018-07 (Topic 718) that expands the scope of Topic 718 to include Share-Based Compensation transactions for acquiring goods and services from non-employees. Under the provision of the amendment, the Company measures share-based compensation to non-employees in the same manner as share-based compensation to employees.

The Company calculates the fair value of stock-based option awards on the date of grant using the Black-Scholes option pricing model. The option-pricing model requires a number of assumptions, of which the most significant are the expected share price volatility and the expected option term. The computation of expected volatility is based on the historical volatility of the Company’s ordinary shares. The expected option term is calculated using the simplified method, as the Company has concluded that its historical share option exercise experience does not provide a reasonable basis to estimate expected option terms. The interest rate for periods within the expected term of an award is based on the U.S. Treasury yield curve in effect at the time of grant. The Company’s expected dividend rate is zero because the Company does not currently pay cash dividends on its shares and does not anticipate doing so in the foreseeable future.

The Company elected to recognize compensation costs for awards granted to employees and directors conditioned only on continued service that have a graded vesting schedule using the accelerated method based on the multiple-option award approach. The Company has elected to account for forfeitures as they occur.

n.	Research and development expenses

Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred.

Grants received from the Israel Innovation Authority (the “IIA”) are recognized when the grant becomes receivable, provided there is reasonable assurance that the Company will comply with the conditions attached to the grant and there is reasonable assurance the grant will be received. At the time grants are received, successful development of the related projects is not assured, therefore, grants are deducted from the research and development expenses as the applicable costs are incurred, and presented in R&D expenses, net.


o.	Revenue recognition

The Company recognized revenue from the Amgen Agreement according to ASC 606, "Revenues from Contracts with Customers”. Prior to the signing of the Amgen Agreement in 2018, the Company did not have revenue transactions.

ASC 606 Revenue from Contracts with Customer introduces a five-step model for recognizing revenue from contracts with customers, as follows:

1. Identify the contract with a customer.

2. Identify the performance obligations in the contract.

3. Determine the transaction price.

4. Allocate the transaction price to the performance obligations in the contract.

5. Recognize revenue when (or as) the entity satisfies a performance obligation.

According to ASC 606, a performance obligation is a promise to provide a distinct good or service or a series of distinct goods or services. Goods and services that are not distinct are bundled with other goods or services in the contract until a bundle of goods or services that is distinct is created. A good or service promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract.

Options granted to the customer that do not provide a material right to the customer that it would not receive without entering into the contract do not give rise to performance obligations.

On December 10, 2018, the Company entered into the Amgen Agreement for the use of the Company’s oral delivery platform in the field of inflammatory diseases and other serious illnesses. As part of the agreement, the Company received non-refundable and non-creditable initial access payment of $725 from Amgen in January 2019.

The Company identified two performance obligations in the agreement: 1) License to use the Company's proprietary drug delivery platform and 2) pre-clinical research and development services (“pre-clinical R&D services”). The preclinical R&D services include discovery, research and design preclinical activities relating to the programs selected by Amgen.

The Company determined the license to the intellectual property to be a right to use that has significant standalone functionality separately from the pre-clinical R&D services since the Company is not required to continue to support, develop or maintain the intellectual property transferred and will not undertake any activities to change the standalone functionality of the intellectual property. Therefore, the license to the intellectual property is a distinct performance obligation and as such revenue is recognized at the point in time that control of the license was transferred to Amgen on December 10, 2018.

Revenues attributed to the preclinical R&Ds services are recognized during the period of the pre-clinical R&D services, over time according to the input model method on a cost-to-cost basis, since the customer benefits from the research and development services as the entity performs the service.

The Company evaluated the standalone selling price of the pre-clinical R&D services at $225 and the right to use the intellectual property at $500.

The transaction price was comprised of fixed consideration and variable consideration (capped research and development reimbursements). Under ASC 606, the consideration that the Company would be entitled to upon the achievement of contractual milestones, which are contingent upon the occurrence of future events of development and commercial progress, are a form of variable consideration. Variable consideration is included in the transaction price if, in the Company’s judgment, it is highly probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. As of December 31, 2022, the Company did not recognize any revenues from any potential milestone payments.

An entity should recognize revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property only when (or as) the later of the following events occurs:

The subsequent sale or usage occurs; and

The performance obligation to which some or all of the sales based or usage-based royalty has been allocated has been satisfied (or partially satisfied).

As royalties are payable based on future commercial sales, as defined in the agreement, which did not occur as of the financial statements date, the Company did not recognize any revenues from royalties.

Revenues attributed to preclinical R&D services are recognized during the period of the pre-clinical R&D services according to the input model method on a cost-to-cost basis.

In 2022 and 2021, the Company recorded revenues of $89 and $502, respectively, related to services provided under the Amgen Agreement.

p.	Income taxes

Deferred taxes

Deferred income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future.

Uncertainty in income taxes

The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained based on technical merits. If this threshold is met, the second step is to measure the tax position as the largest amount that has more than a 50% likelihood of being realized upon ultimate settlement.

q.	Loss per share

Basic loss per share is computed on the basis of the net loss, adjusted to recognize the effect of a down-round feature when it is triggered, for the period, divided by the weighted average number of outstanding ordinary shares during the period.

Diluted loss per share is based upon the weighted average number of ordinary shares and of ordinary shares equivalents outstanding when dilutive. Ordinary share equivalents include outstanding stock options and warrants, which are included under the treasury stock method when dilutive. The calculation of diluted loss per share does not include options, RSUs and warrants, exercisable into an aggregate of 6,255,235 shares and 6,517,102 shares for the years ended December 31, 2022 and 2021, respectively, because the effect would have been anti-dilutive.

r.	Legal and other contingencies

Management applies the guidance in ASC 450-20, “Loss Contingencies” when assessing losses resulting from contingencies. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability is recorded as accrued expenses in the Company’s consolidated financial statements.

Legal costs incurred in connection with loss contingencies are expensed as incurred.

s.	Newly issued and recently adopted accounting pronouncements:

Recently issued accounting pronouncements adopted

In November 2021, the FASB issued ASU 2021-10 “Government Assistance (Topic 832)”, which requires annual disclosures that increase the transparency of transactions involving government grants, including (1) the types of transactions, (2) the accounting for those transactions, and (3) the effect of those transactions on an entity’s financial statements. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2021. The adoption of this guidance did not have material impact on the Company’s consolidated financial statements.

In August 2020, the FASB issued ASU 2020-06 “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40).” This guidance simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The amendments to this guidance are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company early adopted this guidance effective January 1, 2022 and the impact of the adoption on the Consolidated financial statements was immaterial.

Recently issued accounting pronouncements, not yet adopted

In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses—Measurement of Credit Losses on Financial Instruments.” This guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective for Smaller Reporting Companies (SRCs, as defined by the SEC) for the fiscal year beginning on January 1, 2023, including interim periods within that year. The adoption of this guidance will not have material impact on the Company’s consolidated financial statements.

INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of loss (income) before income taxes

	Year ended December 31
	2022			2021
Entera Bio Ltd.		12,997			12,362
Entera Bio Inc.		(65	)		(116	)
Total loss before taxes		12,934			12,246

Schedule of tax expenses

	Year ended December 31
	2022			2021
Current:
Subsidiary:		(37	)		158
Total current income tax		(37	)		158
Deferred income taxes		174			(217	)
Total deferred income taxes		174			(217	)
Total income tax expense (benefit)		137			(59	)

Schedule of deferred income taxes

	December 31,
	2022			2021
Deferred tax assets:
Net operating loss carry forward		15,428			12,895
Research and development		1,225			1,319
Share-based compensation		877			876
Other		158			152
Net deferred tax assets before valuation allowance		17,688			15,242
Valuation allowance		(17,645	)		(15,025	)
Net deferred tax assets		43			217

Schedule of rollforward of valuation allowance

Balance at January 1, 2021		12,420
Additions		2,605
Balance at January 1, 2022		15,025
Additions		2,620
Balance at December 31, 2022		17,645

CONSOLIDATED BALANCE SHEETS (Parentheticals) - ₪ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Ordinary share, par value	₪ 0.0000769	₪ 0.0000769
Ordinary shares, authorized	140,010,000	140,010,000
Ordinary shares, issued	28,809,922	28,804,411
Ordinary shares, outstanding	28,809,922	28,804,411

SHARE-BASED COMPENSATION (Detail Textuals) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands					1 Months Ended						3 Months Ended	12 Months Ended
	Jul. 15, 2022 USD ($) $ / shares shares	May 11, 2022 USD ($) $ / shares shares	Apr. 07, 2021 USD ($) $ / shares shares	Jan. 04, 2021 USD ($) $ / shares shares	Jun. 15, 2022 ILS (₪) shares	Jun. 15, 2022 USD ($) shares	Apr. 28, 2022 USD ($) $ / shares shares	Aug. 23, 2021 USD ($) $ / shares shares	Apr. 30, 2021 shares	Apr. 21, 2021 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2022 ₪ / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 ₪ / shares	Jul. 02, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of terms of share-based payment arrangement											The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Number of options to purchase ordinary shares												2,458,863	1,975,586
Exercise price of options granted \| $ / shares												$ 2.29	$ 1.95
Vestion period											4 years
Aggregate intrinsic value of outstanding options \| $															$ 1
Stock-based compensation expenses \| $												$ 2,247	$ 1,861
General and administrative expenses \| $												$ 7,253	$ 5,690
Common Stock, Par or Stated Value Per Share \| ₪ / shares														₪ 0.0000769		₪ 0.0000769
Executive Officer and Service Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares available for future grant											80,000
Exercise price of options granted \| $ / shares											$ 2.86
Fair value of options at the date of grant \| $											$ 147
Certain employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares			213,000
Exercise price of options granted \| $ / shares			$ 3.61
Vestion period			4 years
Fair value of options at the date of grant \| $			$ 646
Certain employees [Member] \| Vest on the first anniversary of the date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Certain employees [Member] \| Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			75.00%
Service Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares			70,000
Exercise price of options granted \| $ / shares			$ 3.61								$ 2.86
Vestion period			4 years
Fair value of options at the date of grant \| $			$ 646
Service Provider [Member] \| Vest on the first anniversary of the date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Service Provider [Member] \| Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			75.00%
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares available for future grant											55,000
Number of options to purchase ordinary shares										345,000
Exercise price of options granted \| $ / shares										$ 3.15	$ 2.86
Vestion period										4 years
Fair value of options at the date of grant \| $										$ 1,140	$ 37
Executive Officer [Member] \| Vest on the first anniversary of the date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										25.00%
Executive Officer [Member] \| Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage										75.00%
Former CEO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares					492,832	492,832
Vestion period					2 years	2 years
Annual base salary \| $						$ 412
Description of mutual separation					(i) a one-time lump sum payment of his annual base salary for a period of 13 months, for a total gross amount equal to $412; and (ii) an extension of the exercise period for the vested portion of the options granted on January 4, 2021, based on the award original terms, representing an aggregate of 492,832 ordinary shares, through the end of a two-year period commencing on July 15, 2022.	(i) a one-time lump sum payment of his annual base salary for a period of 13 months, for a total gross amount equal to $412; and (ii) an extension of the exercise period for the vested portion of the options granted on January 4, 2021, based on the award original terms, representing an aggregate of 492,832 ordinary shares, through the end of a two-year period commencing on July 15, 2022.
General and administrative expenses \| $						$ 457
Number of unvested options forfeited					821,386	821,386
Non-executive director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares			33,368
Exercise price of options granted \| $ / shares			$ 3.61
Vestion period			3 years
Fair value of options at the date of grant \| $			$ 104
Non-executive director [Member] \| Vest over twelve equal quarterly instalments starting on January 1, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares								752,899
Exercise price of options granted \| $ / shares								$ 2.815
Vestion period								3 years
Fair value of options at the date of grant \| $								$ 195
Non-executive director [Member] \| Vest over four equal quarterly instalments starting on January 1, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares								250,964
Exercise price of options granted \| $ / shares								$ 2.815
Vestion period								1 year
Fair value of options at the date of grant \| $								$ 65
Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of terms of share-based payment arrangement							The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Number of options to purchase ordinary shares							220,000
Exercise price of options granted \| $ / shares							$ 2.57
Vestion period							4 years
Fair value of options at the date of grant \| $							$ 364
New CEO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of terms of share-based payment arrangement	This grant was subject to shareholders' approval, which was obtained at a meeting of the Company’s shareholders held on September 7, 2022. The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the applicable grant date.
Number of options to purchase ordinary shares	600,000			1,314,218
Exercise price of options granted \| $ / shares	$ 1.4			$ 1.24
Vestion period	4 years
Fair value of options at the date of grant \| $	$ 524			$ 1,320
New CEO [Member] \| Triggering Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase ordinary shares	200,000
New CEO [Member] \| Vest on the first anniversary of the date of grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				25.00%
New CEO [Member] \| Vest in twelve equal quarterly installments following the first anniversary of the applicable grant date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				75.00%
Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of terms of share-based payment arrangement		This grant was subject to shareholders' approval, which was obtained at a meeting of the Company’s shareholders held on September 7, 2022. These options have an exercise price of $2.00 per share and vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.
Number of options to purchase ordinary shares		500,000
Exercise price of options granted \| $ / shares		$ 2
Vestion period		4 years
Fair value of options at the date of grant \| $		$ 390
President of R&D [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses \| $						$ 112
Cash separation payment					₪ 537,600	156
Additional cash separation payment					₪ 737,771	$ 214
President of R&D [Member] \| 2017 Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares available for future grant									31,250
Number of options to purchase ordinary shares					357,500	357,500			68,750
Vestion period					10 years	10 years
2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares authorized																	1,371,398
Ordinary shares available for future grant															922,080
Number of additional ordinary shares authorized												1,440,496

OPERATING LEASES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
Operating lease right-of-use assets	$ 90	$ 239
Current lease liabilities	91	179
Non-current lease liabilities	0	123
Total lease liabilities	$ 91	$ 302
Weighted-average remaining lease term (in years)	6 months 7 days	1 year 6 months 10 days
Weighted-average discount rate	16.00%	16.00%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,071)	$ (12,187)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	64	53
Deferred income taxes	174	(217)
Share-based compensation	2,247	1,861
Finance expenses (income), net	(78)	18
Changes in operating asset and liabilities:
Decrease (increase) in accounts receivable	(63)	72
Decrease (increase) in other current assets	(40)	7
Increase (decrease) in accounts payable	(149)	2
Increase (decrease) in accrued expenses and other payables	(1,568)	1,471
Decrease in contract liabilities	(15)	(143)
Net cash used in operating activities	(12,499)	(9,063)
CASH FLOWS FROM INVESTING ACTIVITIES:
Funds with respect to employee rights upon retirement	(55)	0
Purchase of property and equipment	(47)	(17)
Net cash used in investing activities	(102)	(17)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares through ATM programs, net of issuance costs	0	21,805
Exercise of options and warrants into shares	13	3,576
Net cash provided by financing activities	13	25,381
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS	(12,588)	16,301
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT BEGINNING OF THE YEAR	24,964	8,663
CASH, CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT END OF THE YEAR	12,376	24,964
Reconciliation in amounts on consolidated balance sheets:
Cash and cash equivalents	12,309	24,892
Restricted deposits included in other current assets	67	72
Total cash and cash equivalents and restricted deposits	12,376	24,964
SUPPLEMENTAL DISCLOSURE OF CASH FLOW TRANSACTIONS:
Income taxes paid in cash during the year	165	2
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:
Operating lease right of use assets obtained in exchange for new operating lease liabilities	$ 0	$ 31

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of fair value assumptions of option granted using Black-Scholes option-pricing model

	2022		2021
Exercise price		$1.40-$2.86		$1.24-$3.61
Dividend yield		-		-
Expected volatility		69%-70.2%		68%-71%
Risk-free interest rate		1.35%-3.36%		1.11%-0.94%
Expected life - in years		5.5-6.5		6.1-5.8

Schedule of option activity

	2022					2021
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
Outstanding at beginning of the year		4,316,859		$	3.63		2,570,109		$	4.85
Granted		2,458,863			2.29		1,975,586			1.95
Exercised		(5,511	)		2.14		(177,710	)		2.37
Forfeited		(902,009	)		1.41		(16,660	)		2.37
Expired		(135,115	)		3.80		(34,466	)		4.00
Outstanding at end of the year		5,733,087		$	3.30		4,316,859		$	3.63
Exercisable at end of the year		3,165,677		$	4.06		2,068,067		$	5.39

Schedule of outstanding and exercisable options of ordinary shares

December 31, 2022
Options outstanding						Options exercisable
		Number of		Weighted		Number of		Weighted
		options		Average		options		Average
Exercise		outstanding		Remaining		exercisable		Remaining
prices per		at end of		Contractual		at end of		contractual
share (USD)		Year		Life		year		Life
	-		1,560		0.09		1,560		0.09
	1.24		492,831		1.54		492,831		1.54
	1.40		600,000		9.54		-		-
	2.02		500,000		9.37		-		-
	2.14		400,775		7.26		277,994		7.26
	2.53		33,638		6.89		33,638		6.89
	2.57		205,500		9.33		-		-
	2.815		1,003,863		9.01		376,447		9.01
	2.86		135,000		9.25		-		-
	3.15		345,000		8.30		123,125		8.30
	3.61		250,868		8.27		101,059		8.27
	3.68		294,580		0.26		294,580		0.26
	3.97		247,082		6.05		242,053		6.05
	6.31		1,222,390		3.08		1,222,390		3.08
			5,733,087				3,165,677

Schedule of of share-based compensation on statements of operations

	2022		2021
Cost of revenues		14		102
Research and development expenses		708		661
General and administrative		1,525		1,098
		2,247		1,861

INCOME TAX (Details 1) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details 1) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current:
Total current income tax	$ (37)	$ 158
Deferred:
Deferred income taxes	174	(217)
Total deferred income taxes	174	(217)
Total income tax expense (benefit)	137	(59)
Subsidiary
Current:
Total current income tax	$ (37)	$ 158

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

GENERAL

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1 - GENERAL

a.	Entera Bio Ltd. (collectively with its subsidiary, the "Company") was incorporated on September 30, 2009 and commenced operation on June 1, 2010. On January 8, 2018, the Company incorporated Entera Bio Inc., a wholly owned subsidiary incorporated in Delaware United States. The Company is a leader in the development and commercialization of orally delivered large molecule therapeutics for use in areas with significant unmet medical need where adoption of injectable therapies is limited due to cost, convenience and compliance challenges for patients. The Company’s most advanced product candidates, EB613 for the treatment of osteoporosis and EB612 for the treatment of hypoparathyroidism, are based on its proprietary technology platform and are both in clinical development. Additionally, the Company intends to license its oral delivery technology to biopharmaceutical companies for use with their proprietary compounds.

b.	The Company's ordinary shares, NIS 0.0000769 par value per share (“ordinary shares”), are listed on the Nasdaq Capital Market since July 2018 under the symbol “ENTX”.

c.	On December 10, 2018, the Company entered into a research collaboration and license agreement with Amgen (the “Amgen Agreement”) for the use of the Company’s oral delivery platform in the field of inflammatory disease and other serious illnesses. Pursuant to the Amgen Agreement, the Company and Amgen have agreed to use the Company’s proprietary drug delivery platform to develop oral formulations for one preclinical large molecule program that Amgen has selected. Amgen is responsible for the clinical development, regulatory approval, manufacturing and worldwide commercialization of the programs. The Company granted Amgen an exclusive, worldwide, sublicensable license under certain of its intellectual property relating to its drug delivery technology to develop, manufacture and commercialize the applicable products. The Company will retain all intellectual property rights to its drug delivery technology, and Amgen will retain all rights to its large molecules and any subsequent improvements, and ownership of certain intellectual property developed through the performance of the agreement is to be determined by U.S. patent law.

d.	Because the Company is engaged in research and development activities, it has not derived significant income from its activities and has incurred accumulated deficit in the amount of $95.5 million through December 31, 2022 and negative cash flows from operating activities. The Company's management is of the opinion that its available funds as of December 31, 2022 will allow the Company to operate under its current plans into the third quarter of 2024. This assumes the use of the Company’s capital to fund its ongoing operations, including R&D and the completion of the Phase 1 study related to the new formulation EB612. This does not include the capital required to fund the Company's proposed Phase 3 study for EB613 in osteoporosis and comparative study. These factors raise substantial doubt as to the Company's ability to continue as a going concern. Management is in the process of evaluating various financing alternatives in the public or private equity markets, debt financing and strategic collaborations, as the Company will need to finance future research and development activities, general and administrative expenses and working capital through fund raising. However, there is no certainty about the Company's ability to obtain such funding. The financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
REVENUES	$ 134	$ 571
COST OF REVENUES	101	373
GROSS PROFIT	33	198
OPERATING EXPENSES:
Research and development	5,848	6,771
General and administrative	7,253	5,690
Other income	(51)	(46)
TOTAL OPERATING EXPENSES	13,050	12,415
OPERATING LOSS	13,017	12,217
FINANCIAL EXPENSES (INCOME), net	(83)	29
LOSS BEFORE INCOME TAX	12,934	12,246
INCOME TAX EXPENSE (BENEFIT)	137	(59)
NET LOSS	$ 13,071	$ 12,187
LOSS PER SHARE BASIC	$ 0.45	$ 0.47
LOSS PER SHARE DILUTED	$ 0.45	$ 0.47
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC LOSS PER SHARE	28,808,090	26,133,770
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF DILUTED LOSS PER SHARE	28,808,090	26,133,770

OPERATING LEASES

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

OPERATING LEASES

NOTE 3 - OPERATING LEASES

1)	The Company leases office and research and development space under several agreements. The annual lease consideration is a total of $166 and is linked to the Israeli CPI. The lease agreement expires on June 30, 2023.

As of December 31, 2022, the Company provided bank guarantees of approximately $37, in the aggregate, to secure the fulfillment of its obligations under the lease agreements.

The Company has entered into operating lease agreements for vehicles used by its employees. The lease periods are generally for three years and the payments are linked to the Israeli CPI. To secure the terms of the lease agreements, the Company has made certain deposits to the leasing company, representing approximately three months of lease payments. The annual lease consideration is a total of $21.

The lease cost was as follows:

		Year ended December 31, 2022				Year ended December 31, 2021
Operating lease cost			197				216

Supplemental cash flow information related to leases was as follows:

		Year ended December 31, 2022				Year ended December 31, 2021
Operating cash flows from operating leases			197				216

Supplemental balance sheet information related to operating leases was as follows:

	December 31, 2022			December 31, 2021
Operating Leases
Operating lease right-of-use assets		90			239

Current lease liabilities		91			179
Non-current lease liabilities		-			123
Total lease liabilities		91			302

Weighted-average remaining lease term (in years)		0.52			1.53
Weighted-average discount rate		16	%		16	%

As of December 31, 2022, the maturity of lease liabilities under our non-cancelable operating leases are $91 to be paid in 2023.

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

CURRENT ASSETS:

Cash and cash equivalents

$ 12,309

$ 24,892

Accounts receivable

246

183

Other current assets

294

254

TOTAL CURRENT ASSETS

12,849

25,329

NON-CURRENT ASSETS:

Property and equipment, net

139

156

Operating lease right-of-use assets

239

Deferred income taxes

217

Funds in respect of employee rights upon retirement

TOTAL NON-CURRENT ASSETS

278

658

TOTAL ASSETS

13,127

25,987

CURRENT LIABILITIES:

Accounts payable

166

Accrued expenses and other payables

1,233

2,801

Current maturities of operating lease

179

Contract liabilities

TOTAL CURRENT LIABILITIES

1,341

3,161

NON-CURRENT LIABILITIES:

Operating lease liabilities

123

Liability for employee rights upon retirement

138

TOTAL NON-CURRENT LIABILITIES

261

TOTAL LIABILITIES

1,373

3,422

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:

Ordinary Shares, NIS 0.0000769 par value: Authorized - as of December 31, 2022 and December 31, 2021, 140,010,000 shares; issued and outstanding as of December 31, 2022, and December 31, 2021 28,809,922 and 28,804,411 shares, respectively

^[1]

Additional paid-in capital

107,210

104,950

Accumulated other comprehensive income

Accumulated deficit

(95,497)

(82,426)

TOTAL SHAREHOLDERS' EQUITY

11,754

22,565

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$ 13,127

$ 25,987

[1]	Represents an amount less than one thousand US dollars.

SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2022
Computer equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computer equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Office furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Laboratory equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Laboratory equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years

SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Significant Accounting Policies [Line Items]
Severance payment expenses		$ 132	$ 137
Severance expenses		$ 132
Number of antidilutive securities excluded from computation of earnings per share		6,255,235	6,517,102
Revenues recorded in revenue recognition		$ 89	$ 502
From Amgen [Member]
Significant Accounting Policies [Line Items]
Non-refundable and non-creditable initial technology access fee payment, including payment for the first year of preclinical services	$ 725
Additional amount paid for services to be recognized upon commencement of the pre-clinical Research and Development services				$ 225
Right to use intellectual property				$ 500

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of estimated useful life

		Years

Computer equipment		3-5
Office furniture		10
Laboratory equipment		7-10

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Supplementary Financial Statement Information [Abstract]

Schedule of accounts payable and accrued liabilities

	December 31,
	2022		2021
Accrued expenses and other payables:
Employees and employees related		154		147
Income tax		-		134
Provision for vacation		146		308
Accrued expenses		933		2,212
		1,233		2,801

INCOME TAX (Details 2) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carry forward	$ 15,428	$ 12,895
Research and development	1,225	1,319
Share-based compensation	877	876
Other	158	152
Net deferred tax assets before valuation allowance	17,688	15,242
valuation allowance	(17,645)	(15,025)	$ (12,420)
Net deferred tax assets	$ 43	$ 217

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation of the financial statements

a.	Basis of presentation of the financial statements

Use of estimates in the preparation of financial statements

b.	Use of estimates in the preparation of financial statements

Functional currency

c.	Functional currency

Functional and presentation currency

The functional currency of the subsidiary is the U.S. dollar.

Transactions and balances

Principles of consolidation

d.	Principles of consolidation The consolidated financial statements include the accounts of the Company and its subsidiary Entera Bio Inc. All inter-company transactions and balances have been eliminated in consolidation.

Cash and cash equivalents

Cash and cash equivalents

Restricted cash

f.	Restricted cash Restricted cash deposited in an interest-bearing saving account which is used as a security for the Company's office rent and credit card.

Concentrations of credit risk

g.	Concentrations of credit risk

Fair value measurement

h.	Fair value measurement

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable inputs that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

Employee severance benefits

i.	Employee severance benefits

The amounts of severance payment expenses were $132 and $137 for the years ended December 31, 2022 and 2021, respectively.

The Company expects to contribute to insurance companies approximately $132 for the year ending December 31, 2023 in connection with its expected severance liabilities for that year.

Leases

j.	Leases

Sublease income is recognized on a straight-line basis over the expected lease term and is included in other income in our consolidated statements of operations.

Property and equipment

k.	Property and equipment

Property and equipment are stated at cost, net of accumulated depreciation and amortization.

The Company’s property and equipment are depreciated using the straight-line method, which approximates the pattern of usage, over the term of the estimated useful life, as follows:

		Years

Computer equipment		3-5
Office furniture		10
Laboratory equipment		7-10

Leasehold improvements are amortized by the straight-line method over the shorter of (i) the expected lease term and (ii) the estimated useful life of the improvements.

Impairment of long-lived assets

l.	Impairment of long-lived assets

As of December 31, 2022 and 2021, the Company did not recognize an impairment loss on its long-lived assets.

Share-based compensation

m.	Share-based compensation

The Company grants share options and restricted share units (“RSU”) (together “Share-Based Compensation”) to its employees, directors and non-employees in consideration for services rendered.

Research and development expenses

n.	Research and development expenses

Revenue recognition


o.	Revenue recognition

ASC 606 Revenue from Contracts with Customer introduces a five-step model for recognizing revenue from contracts with customers, as follows:

1. Identify the contract with a customer.

2. Identify the performance obligations in the contract.

3. Determine the transaction price.

4. Allocate the transaction price to the performance obligations in the contract.

5. Recognize revenue when (or as) the entity satisfies a performance obligation.

Options granted to the customer that do not provide a material right to the customer that it would not receive without entering into the contract do not give rise to performance obligations.

The Company evaluated the standalone selling price of the pre-clinical R&D services at $225 and the right to use the intellectual property at $500.

An entity should recognize revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property only when (or as) the later of the following events occurs:

The subsequent sale or usage occurs; and

The performance obligation to which some or all of the sales based or usage-based royalty has been allocated has been satisfied (or partially satisfied).

Revenues attributed to preclinical R&D services are recognized during the period of the pre-clinical R&D services according to the input model method on a cost-to-cost basis.

In 2022 and 2021, the Company recorded revenues of $89 and $502, respectively, related to services provided under the Amgen Agreement.

Income taxes

p.	Income taxes

Deferred taxes

Uncertainty in income taxes

Loss per share

q.	Loss per share

Legal and other contingencies

r.	Legal and other contingencies

Legal costs incurred in connection with loss contingencies are expensed as incurred.

Newly issued and recently adopted accounting pronouncements

s.	Newly issued and recently adopted accounting pronouncements:

Recently issued accounting pronouncements adopted

Recently issued accounting pronouncements, not yet adopted

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

12 Months Ended

Dec. 31, 2022

Supplementary Financial Statement Information [Abstract]

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION

NOTE 8 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:

Balance sheets:

	December 31,
	2022		2021
Accrued expenses and other payables:
Employees and employees related		154		147
Income tax		-		134
Provision for vacation		146		308
Accrued expenses		933		2,212
		1,233		2,801

OPERATING LEASE (Details 1) - USD ($) $ in Thousands	12 Months Ended
OPERATING LEASE (Details 1) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 197	$ 216

SHARE-BASED COMPENSATION (Details) - $ / shares	12 Months Ended
SHARE-BASED COMPENSATION (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 1.4	$ 1.24
Expected volatility	69.00%	68.00%
Risk-free interest rate	1.35%	1.11%
Expected life - in years	5 years 6 months	6 years 1 month 6 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 2.86	$ 3.61
Expected volatility	70.20%	71.00%
Risk-free interest rate	3.36%	0.94%
Expected life - in years	6 years 6 months	5 years 9 months 18 days

SHARE-BASED COMPENSATION (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 2,247	$ 1,861
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	14	102
Research and development expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	708	661
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 1,525	$ 1,098

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2022

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

NOTE 6 - SHARE-BASED COMPENSATION

1)	Share-based compensation plan

On March 17, 2013, the Company's Board of Directors approved a Share Incentive Plan (the “2013 Plan”). Under the 2013 Plan, the Company reserves specified number of ordinary shares for allocation to stock options (each, an “Option”), restricted share units, restricted share awards and performance-based awards, that had been awarded to employees and non-employees under the 2013 Plan. Each Option is exercisable for one ordinary share.

Any Option granted under the 2013 Plan that is not exercised within six years from the date upon which it becomes exercisable will expire. Since adopting the 2018 Plan (as defined below), the Company has not granted any awards under the 2013 Plan.

On July 2, 2018, the Company's Board of Directors and shareholders of the Company approved a new Share Incentive Plan (the “2018 Plan”) and reserved 1,371,398 ordinary shares for allocation to stock options (each, a "2018 Plan Option"), restricted share units, restricted share awards and performance-based awards, to employees and non-employees for issuance under the 2018 Plan. Each 2018 Plan Option is exercisable for one ordinary share.

Any 2018 Plan Option that is not exercised within 10 years from the date of grant will expire.

The 2018 Plan Options granted to employees are subject to the terms stipulated by section 102(b)(2) of the Israeli Income Tax Ordinance (the “Ordinance”). According to these provisions, the Company will not be allowed to claim as an expense for tax purposes the amounts credited to the employees as a capital gain benefit in respect of the options granted.

2018 Plan Options granted to related parties or non-employees of the Company are governed by Section 3(i) of the Ordinance or Non-Qualified Share Options ("NSO"). The Company will be allowed to claim as an expense for tax purposes in the year in which the related parties or non-employees exercised the options into shares.

As of December 31, 2022, 922,080 ordinary shares remain available for future grants under the 2018 Plan.

On January 2, 2023, the Company’s Board of Directors approved an increase of 1,440,496 ordinary shares that may be issued under the Company’s 2018 Plan pursuant of the terms of the 2018 Plan,

2)	share-based compensation grants to employees and directors:

On January 4, 2021, options to purchase 1,314,218 ordinary shares were granted to the Company’s former Chief Executive Officer, Dr. Spiros Jamas with an exercise price of $1.24 per share. Prior to the terms of Dr. Jamas’ separation agreement (as described below), the options were to vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option to vest in twelve equal quarterly installments following the first anniversary of the grant date. The grant was subject to the approval by the Company’s shareholders, which approved the grant in March 2021. The fair value of the options at the date of grant was $1,320.

On July 15, 2022, the Company entered into a mutual separation agreement with Dr. Jamas. Pursuant to the separation agreement, Dr. Jamas received the following benefits: (i) a one-time lump sum payment of his annual base salary for a period of 13 months, for a total gross amount equal to $412; and (ii) an extension of the exercise period for the vested portion of the options granted on January 4, 2021, based on the award original terms, representing an aggregate of 492,832 ordinary shares, through the end of a two-year period commencing on July 15, 2022. Effective July 15, 2022, upon termination of the employment agreement with Dr. Jamas, the remaining 821,386 unvested options were forfeited and recognized as a reverse of expense of $457 in general and administrative expenses.

On April 7, 2021, the Company’s Board of Directors approved the following option grants:

Option grants to purchase 213,000 ordinary shares to certain employees and 70,000 options granted to service providers, with an exercise price of $3.61 per share. The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. The fair value of the options at the date of grant was $646.

ii.

Options grant to purchase 33,368 ordinary shares to a non-executive director of the Company, with an exercise price of $3.61. The options will vest over three years in twelve equal quarterly instalments starting on the vesting commencement date. These options were subject to the approval of the shareholders of the Company, which was approved on October 4, 2021. The fair value of the options at the shareholders' approval date was $104.

On April 21, 2021, options to purchase 345,000 ordinary shares were granted to several executive officers of the Company, with an exercise price of $3.15. The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. These options were subject to the approval of the shareholders of the Company, which was approved on October 4, 2021. The fair value of the options at the shareholders' approval date was $1,140.

On August 23, 2021, the Company’s Board of Directors approved the following option grants which were approved by the shareholders of the Company on October 4, 2021.

Grants of options to purchase ordinary shares with a total fair value 0f $195 for each of the seven non-executive board members on January 1, 2022. The options will vest over three years in twelve equal quarterly instalments starting on January 1, 2022 the vesting commencement date. On January 1, 2022, which is considered the awards grant date, the Company granted 752,899 ordinary shares to non-executive directors with an exercise price of $2.815 per share.

ii.

Grants of options to purchase ordinary shares with a total fair value 0f $65 for each of the seven non-executive board members on January 1, 2022. The options will vest over one year in four equal quarterly instalments starting on January 1, 2022 the vesting commencement date. On January 1, 2022, which is considered the awards grant date, the Company granted 250,964 ordinary shares to non-executive directors with an exercise price of $2.815 per share.

On March 31, 2022, the Company’s Board of Directors approved the following option grants:

Options to purchase 80,000 ordinary shares to an executive officer and a service provider, in each case, with an exercise price of $2.86 per share. The fair value of the options was $147.

ii.

Options to purchase 55,000 ordinary shares to certain executive officers with an exercise price of $2.86 per share. This grant was subject to shareholders' approval, which was obtained at a meeting of the Company’s shareholders held on September 7, 2022. The fair value of the options was $37.

The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date.

On April 28, 2022, the Company’s Board of Directors approved option grants to purchase 220,000 ordinary shares to employees with an exercise price of $2.57 per share. The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. The fair value of the options was $364.

On May 11, 2022, the Company’s Board of Directors approved a grant of options to purchase 500,000 ordinary shares to Ms. Miranda Toledano, who was serving as the Company’s Chief Financial Officer at the time of the grant. Ms. Toledano has since been appointed the Company’s Chief Executive Officer (as described in Note 6(2)l below). This grant was subject to shareholders' approval, which was obtained at a meeting of the Company’s shareholders held on September 7, 2022. These options have an exercise price of $2.00 per share and vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the grant date. The fair value of the options was $390.

On July 15, 2022, the Company’s Board of Directors appointed Ms. Miranda Toledano as the Company’s Chief Executive Officer and approved a grant of options to purchase 600,000 ordinary shares at an exercise price of $1.40 per share, which are in addition to the options described in note 6(2)k above. This grant was subject to shareholders' approval, which was obtained at a meeting of the Company’s shareholders held on September 7, 2022. The options vest over four years from the date of grant; 25% vest on the first anniversary of the date of grant and the remaining 75% of the option will vest in twelve equal quarterly installments following the first anniversary of the applicable grant date. The fair value of the options was $524.

In addition, upon the occurrence of a Triggering Event (as defined below) and subject to the approval of the Board of Directors, Ms. Toledano will be granted additional options to purchases 200,000 ordinary shares. The exercise price will be determined at the time of the Board of Directors’ approval.

"Triggering Event" means the earlier of the following events: (i) the execution by the Company of a binding strategic or partnership agreement with a strategic partner to fund the Company's Phase III FDA Trial; or (b) raising sufficient funding to complete the Company's Phase III FDA Trial, in each case as such event is approved by the Board of Directors.

On June 15, 2022, the Company entered into a separation agreement with Dr. Phillip Schwartz, the Company’s former President of R&D, under which Dr. Schwartz agreed to continue to provide services to the Company until July 21, 2022 (the “Separation Date”). Pursuant to the terms of the separation agreement, which were approved by the Company’s shareholders on September 7, 2022, Dr. Schwartz received a full acceleration of his unvested options, as of the Separation Date, to purchase 68,750 ordinary shares granted in April 2021 that otherwise would have been forfeited. These options, together with 31,250 already vested options granted in April 2021 and 357,500 already vested options to purchase ordinary shares granted in 2017, will be exercisable for a period of 10 years from their respective initial grant dates.

The acceleration described above was recognized as a "Type III" modification; therefore, on the shareholder approval date, the Company recognized the incremental costs of unvested options based on the fair value of the options on such date. In addition, the extension of the exercise period for the vested awards was recognized as a "Type I" modification. The total expense amount was $112 thousand, which was classified as additional share-based compensation costs in the research and development expenses.

In addition, the separation agreement provides for the following payments to Dr. Schwartz, all of which would have otherwise been payable in accordance with either Israeli law or pursuant to his existing employment agreement: a one-time cash separation payment in an amount equal to NIS 537,600 (approximately $156) and additional payments of NIS 737,771 (approximately $214) in respect of all other ongoing accrued benefits, subject to any mandatory deductions. The foregoing payments were recognized in the research and development expenses.

The fair value of each option granted is estimated at the date of grant using the Black-Scholes option-pricing model, with the following weighted average assumptions:

	2022		2021
Exercise price		$1.40-$2.86		$1.24-$3.61
Dividend yield		-		-
Expected volatility		69%-70.2%		68%-71%
Risk-free interest rate		1.35%-3.36%		1.11%-0.94%
Expected life - in years		5.5-6.5		6.1-5.8

	2022					2021
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
Outstanding at beginning of the year		4,316,859		$	3.63		2,570,109		$	4.85
Granted		2,458,863			2.29		1,975,586			1.95
Exercised		(5,511	)		2.14		(177,710	)		2.37
Forfeited		(902,009	)		1.41		(16,660	)		2.37
Expired		(135,115	)		3.80		(34,466	)		4.00
Outstanding at end of the year		5,733,087		$	3.30		4,316,859		$	3.63
Exercisable at end of the year		3,165,677		$	4.06		2,068,067		$	5.39

The following tables summarizes information concerning outstanding and exercisable options as of December 31, 2022, in terms of ordinary shares:

December 31, 2022
Options outstanding						Options exercisable
		Number of		Weighted		Number of		Weighted
		options		Average		options		Average
Exercise		outstanding		Remaining		exercisable		Remaining
prices per		at end of		Contractual		at end of		contractual
share (USD)		Year		Life		year		Life
	-		1,560		0.09		1,560		0.09
	1.24		492,831		1.54		492,831		1.54
	1.40		600,000		9.54		-		-
	2.02		500,000		9.37		-		-
	2.14		400,775		7.26		277,994		7.26
	2.53		33,638		6.89		33,638		6.89
	2.57		205,500		9.33		-		-
	2.815		1,003,863		9.01		376,447		9.01
	2.86		135,000		9.25		-		-
	3.15		345,000		8.30		123,125		8.30
	3.61		250,868		8.27		101,059		8.27
	3.68		294,580		0.26		294,580		0.26
	3.97		247,082		6.05		242,053		6.05
	6.31		1,222,390		3.08		1,222,390		3.08
			5,733,087				3,165,677

The aggregate intrinsic value of the total of the outstanding and exercisable options as of December 31, 2022, is $1.

The following table illustrates the effect of share-based compensation on the statements of operations:

	2022		2021
Cost of revenues		14		102
Research and development expenses		708		661
General and administrative		1,525		1,098
		2,247		1,861

INCOME TAX (Details 3) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details 3) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Opening balance	$ 15,025	$ 12,420
Additions	2,620	2,605
Closing balance	$ 17,645	$ 15,025

GENERAL (Detail Textuals) $ in Thousands	Dec. 31, 2022 ₪ / shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 ₪ / shares	Dec. 31, 2021 USD ($)
General [Line Items]
Ordinary share, par value \| ₪ / shares	₪ 0.0000769		₪ 0.0000769
Accumulated deficit \| $		$ (95,497)		$ (82,426)

SHARE-BASED COMPENSATION (Details 1) - $ / shares	12 Months Ended
SHARE-BASED COMPENSATION (Details 1) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Number of options
Outstanding at beginning of the year	4,316,859	2,570,109
Granted	2,458,863	1,975,586
Exercised	(5,511)	(177,710)
Forfeited	(902,009)	(16,660)
Expired	(135,115)	(34,466)
Outstanding at end of the year	5,733,087	4,316,859
Exercisable at end of the year	3,165,677	2,068,067
Weighted Average exercise price
Outstanding at beginning of the year	$ 3.63	$ 4.85
Granted	2.29	1.95
Exercised	2.14	2.37
Forfeited	1.41	2.37
Expired	3.8	4
Outstanding at end of the year	3.3	3.63
Exercisable at end of the year	$ 4.06	$ 5.39

SHARE CAPITAL

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

SHARE CAPITAL

NOTE 5 - SHARE CAPITAL

1)	Rights of the Company’s ordinary shares

Each ordinary share is entitled to one vote. The holder of an ordinary shares is also entitled to receive dividends whenever funds are legally available, when and if declared by the Board of Directors.

A holder of an ordinary share also has the right to receive upon liquidation of the Company, a sum equal to the nominal value of such share, and if a surplus per share remains, to receive such surplus, subject to the rights conferred on any class of shares which may be issued in the future. Since its inception, the Company has not declared any dividends.

2)	Changes in share capital:

IPO warrants

In connection with the Company’s initial public offering (“IPO”) in July 2018, the Company issued 1,400,000 IPO warrants to purchase 700,000 ordinary shares, and these warrants have been listed for trading on the Nasdaq Capital Market since August 12, 2018. The IPO warrants were immediately exercisable at an initial exercise price of $8.40 per ordinary share for a period of five years, unless earlier repurchased by the Company under "Fundamental Transactions” as described in the warrant agreement or earlier expired as described in the warrant agreement.

The exercise price and number of ordinary shares issuable upon exercise of each warrant are subject to standard adjustments. In addition, subject to certain exceptions, the exercise price was subject to reduction if, within two years following the date of original issuance of the warrants, which ended in July 2020, the Company sold or granted any warrant or option at an effective price per share of less than $8.00 (as adjusted in proportion with any adjustments made from time to time), based on a weighted average, as described in the warrant agreement. As described in note 5b below, the Company completed a financing round during such two-year period at a price per share lower than the $8.00, therefore, the exercise price of these warrants adjusted to $5.85 per share.

At the IPO completion date, both of the instruments (warrants and shares) were classified as equity instruments as the warrants are considered indexed to the entity's own stock based on the provision of ASC 815.

In March 2021, 4,500 IPO warrants were exercised into 2,250 ordinary shares for total consideration of $13 at an exercise price of $5.85 per ordinary share.

As of the December 31, 2022 there were 1,395,500 traded warrants to purchase 697,750 ordinary shares outstanding with an exercise price of $5.85.

In December 2019 and February 2020, the Company entered into subscription agreement with a selected group of accredited investors for the private placement of 6,047,706 ordinary shares for aggregate subscription proceeds to the Company of $14.3 million at a price of $2.37 per share. In addition, the Company granted 3,023,871 warrants, exercisable over a three-year period from the date of issuance to purchase up to 3,023,871 ordinary shares at a per share exercise price of $2.96 (“Investors Warrants”). In addition, the exercise price was subject to reduction if, within one year of the date of original issuance of the warrants which ended in December 2020, the Company issued ordinary shares at an effective price per share less than $2.96.

Following the closing of the offering, the Company issued to a broker-dealer 184,515 warrants and 92,257 warrants with per share exercise prices of $2.37 to $2.96, respectively (“Broker Warrants”).

During 2020, upon issuance of shares through the Company’s At-the-market equity program at a price per share lower than the exercise price, the exercise price of the Investors Warrants and the Broker Warrants adjusted to $1.05. See note 5c.

On April 21, 2021, upon satisfaction of the sale price condition pursuant to the subscription agreement, the Company’s Board of Directors elected to accelerate the termination date of the Investors Warrants and Broker Warrants. In accordance with the terms of the applicable agreements, the holders had the opportunity to exercise their warrants until June 23, 2021, following which any unexercised warrants would terminate.

Through June 23, 2021, all warrants holders exercised 3,300,645 warrants into 3,172,800 ordinary shares, either through purchase or a cashless exercise. The total consideration from the exercise of these warrants was $3,145 at an exercise price of $1.05 per share.

As of December 31, 2021, all Investors Warrants and Broker Warrants had been exercised and none remain outstanding.

On July 4, 2020, the Company filed a primary registration statement on form F-3 and established an at-the-market equity program (the " 2020 ATM Program") that allowed the Company to issue up to $13.9 million of ordinary shares, at the Company’s discretion. Distributions of the ordinary shares through 2020 ATM Program were made pursuant to the terms of an equity distribution agreement dated July 13, 2020, among the Company and Canaccord Genuity LLC (the "Agent").

In 2020, the Company issued 2,802,731 ordinary shares pursuant to the 2020 ATM Program for net proceeds of $3.2 million at a weighted average price of $1.27 per ordinary share.

In 2021, the Company issued an additional 2,546,265 ordinary shares pursuant to the 2020 ATM Program for net proceeds of $9.9 million at a weighted average price of $3.99 per ordinary share.

On May 7, 2021, the Company entered into a new at-the-market equity program (the "2021 ATM Program") that allowed the Company to issue up to additional five million ordinary shares, at the Company's discretion.

Distributions of the ordinary shares through the 2021 ATM Program were made pursuant to the terms of an equity distribution agreement dated May 7, 2021 among the Company and B. Riley Securities, Inc.

In June and July 2021, the Company issued an aggregate of 1,840,463 ordinary shares pursuant to the 2021 ATM Program for net proceeds of $12.1 million at a weighted average price of $6.74 per ordinary share.

During the year ended December 31, 2021, several employees and service providers exercised 177,711 options into 177,711 ordinary shares for a total consideration of $418 at a weighted average price of $2.54 per ordinary share.

During the year ended December 31, 2022, one employee exercised 5,511 options into 5,511 ordinary shares for a total consideration of $13 at a price of $2.14 per ordinary share.

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

OPERATING LEASES (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
OPERATING LEASES (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Maturity of lease liabilities under our non-cancelable operating leases to be paid in 2023	$ 91	$ 302
Operating lease agreements for office and research and development space [Member]
Lessee, Lease, Description [Line Items]
Annual lease consideration	166
Value of bank guarantees provided	37
Operating lease agreements for vehicles for employees [Member]
Lessee, Lease, Description [Line Items]
Annual lease consideration	$ 21

SHARE CAPITAL (Detail Textuals) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

2 Months Ended

12 Months Ended

Jun. 23, 2021

Mar. 31, 2021

Feb. 29, 2020

Jul. 31, 2018

Jul. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

May 07, 2021

Jul. 04, 2020

Stockholders Equity Note [Line Items]

Stock-based compensation expenses

$ 2,247

$ 1,861

Value of shares issued

^[1]

Proceeds from issuance of shares through ATM programs, net of issuance costs

$ 0

$ 21,805

Number of options exercised

5,511

177,710

Exercise of options to ordinary shares

$ 13

$ 418

Weighted average exercise rice of options exercised

$ 2.14

$ 2.37

ATM Equity Program 2020 [Member]

Stockholders Equity Note [Line Items]

Adjusted exercise price under At-the-market equity program

$ 1.05

Broker Warrants Type 1 [Member]

Stockholders Equity Note [Line Items]

Exercise price of warrants issued

$ 2.96

Broker Warrants [Member]

Stockholders Equity Note [Line Items]

Exercise price of warrants issued

$ 2.37

Broker Dealer [Member]

Stockholders Equity Note [Line Items]

Number of shares issued

184,515

Broker-Dealer 1 [Member]

Stockholders Equity Note [Line Items]

Number of shares issued

92,257

Ordinary shares [Member]

Stockholders Equity Note [Line Items]

Voting rights of ordinary share

one vote

Number of options exercised

5,511

177,711

Exercise of options to ordinary shares

^[1]

Ordinary shares [Member] | ATM Equity Program 2020 [Member]

Stockholders Equity Note [Line Items]

Value of shares issued

$ 13,900

Weighted average price of share issued

$ 3.99

$ 1.27

Net proceeds from share issuance

$ 9,900

$ 3,200

Number of shares issued

2,546,265

2,802,731

Ordinary shares [Member] | ATM Equity Program 2021 [Member]

Stockholders Equity Note [Line Items]

Weighted average price of share issued

$ 6.74

Net proceeds from share issuance

$ 12,100

Number of shares issued

1,840,463

5,000,000

Ordinary shares [Member] | Several employees and service providers [Member]

Stockholders Equity Note [Line Items]

Number of options exercised

5,511

177,711

Number of shares issued on options exercised

5,511

177,711

Weighted average exercise rice of options exercised

$ 2.14

$ 2.54

Total Consideration

$ 13

$ 418

IPO [Member] | Warrant [Member]

Stockholders Equity Note [Line Items]

Number of warrants issued

4,500

1,400,000

1,395,500

Number of ordinary shares called by warrants

2,250

700,000

697,750

Exercise price of warrants issued

$ 5.85

$ 8.4

$ 5.85

Term of warrants issued

5 years

Threshold limit of period for reduction in exercise price

2 years

Threshold limit of reduction in exercise price

$ 8

Reduced exercise price

$ 5.85

Total Consideration

$ 13

Private Placement [Member] | Accredited investors, including certain board members and their affiliates [Member]

Stockholders Equity Note [Line Items]

Number of warrants issued

3,023,871

Number of ordinary shares called by warrants

3,023,871

Exercise price of warrants issued

$ 2.96

Term of warrants issued

3 years

Number of shares issued under private placement

6,047,706

Proceeds from private placement

$ 14,300

Price of shares issued under private placement

$ 2.37

Private Placement [Member] | Warrant [Member] | Chairman of the board and DNA [Member]

Stockholders Equity Note [Line Items]

Number of warrants issued

3,300,645

Exercise price of warrants issued

$ 1.05

Proceeds from exercise of warrants

$ 3,145

Private Placement [Member] | Ordinary shares [Member] | Chairman of the board and DNA [Member]

Stockholders Equity Note [Line Items]

Number of ordinary shares called by warrants

3,172,800

[1]	Represents an amount less than one thousand US dollars.

OPERATING LEASES (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of lease cost

		Year ended December 31, 2022				Year ended December 31, 2021
Operating lease cost			197				216

Schedule of operating lease cashflow information

		Year ended December 31, 2022				Year ended December 31, 2021
Operating cash flows from operating leases			197				216

Schedule of operating lease liability and operating lease right-of-use asset

	December 31, 2022			December 31, 2021
Operating Leases
Operating lease right-of-use assets		90			239

Current lease liabilities		91			179
Non-current lease liabilities		-			123
Total lease liabilities		91			302

Weighted-average remaining lease term (in years)		0.52			1.53
Weighted-average discount rate		16	%		16	%

COMMITMENTS AND CONTINGENCIES (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Patent Transfer Agreement [Member]
Commitments [Line Items]
Percentage of net revenues	3.00%
D.N.A Biomedical Solutions Ltd [Member] \| Joint Venture Agreement [Member]
Commitments [Line Items]
Amount of investment in entity	$ 600
D. N. A Biomedical Solutions Ltd And Oramed Ltd [Member] \| Joint Venture Agreement [Member]
Commitments [Line Items]
Percentage of ownership of entity acquired	50.00%
Government of Israel [Member]
Commitments [Line Items]
Percentage sales of products developed from projects in first three years, from commencement of revenues	3.00%
Percentage sales of products developed from projects subsequent three years	4.00%
Percentage sales of products developed from projects commencing the seventh year up to 100% of amount of grant received	5.00%
Total royalty amount payable	$ 460
Percentage of each payment received from Amgen	5.38%
Royalty amount paid	$ 83

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands

Ordinary shares [Member]

Additional paid-in capital [Member]

Accumulated other Comprehensive income [Member]

Accumulated deficit [Member]

Total

BALANCE at Dec. 31, 2020

^[1]

$ 77,708

$ 41

$ (70,239)

$ 7,510

BALANCE (in shares) at Dec. 31, 2020

21,057,922

CHANGES DURING THE YEAR ENDED

Net loss

$ 0

(12,187)

Exercise of warrants to ordinary shares

^[1]

3,158

Exercise of warrants to ordinary shares (in shares)

3,175,050

Issuance of shares due to the ATM program, net of issuance costs

^[1]

21,805

Issuance of shares due to the ATM program, net of issuance costs (in shares)

4,386,728

Exercise of options to ordinary shares

^[1]

418

$ 418

Exercise of options to ordinary shares (in shares)

177,711

177,710

Share-based compensation

$ 0

1,861

$ 1,861

Vested restricted share units

^[1]

Vested restricted share units (in shares)

7,000

BALANCE (in shares) at Dec. 31, 2021

28,804,411

BALANCE at Dec. 31, 2021

^[1]

104,950

(82,426)

22,565

CHANGES DURING THE YEAR ENDED

Net loss

(13,071)

Exercise of options to ordinary shares

^[1]

$ 13

Exercise of options to ordinary shares (in shares)

5,511

Share-based compensation

$ 0

2,247

$ 2,247

BALANCE (in shares) at Dec. 31, 2022

28,809,922

BALANCE at Dec. 31, 2022

^[1]

$ 107,210

$ 41

$ (95,497)

$ 11,754

[1]	Represents an amount less than one thousand US dollars.

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued expenses and other payables:
Employees and employees related	$ 154	$ 147
Income tax	0	134
Provision for vacation	146	308
Accrued expenses	933	2,212
Accrued expenses and other payables, total	$ 1,233	$ 2,801

SHARE-BASED COMPENSATION (Details 2) - $ / shares	12 Months Ended
SHARE-BASED COMPENSATION (Details 2) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 3.3	$ 3.63	$ 4.85
Number of options outstanding at end of year	5,733,087	4,316,859	2,570,109
Number of options exercisable at end of year	3,165,677	2,068,067
Exercise Price Per Share - Zero
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 0
Number of options outstanding at end of year	1,560
Options outstanding, Weighted Average Remaining contractual Life	1 month 2 days
Number of options exercisable at end of year	1,560
Options exercisable, Weighted Average Remaining contractual Life	1 month 2 days
Exercise Price Per Share - 1.24
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 1.24
Number of options outstanding at end of year	492,831
Options outstanding, Weighted Average Remaining contractual Life	1 year 6 months 14 days
Number of options exercisable at end of year	492,831
Options exercisable, Weighted Average Remaining contractual Life	1 year 6 months 14 days
Exercise Price Per Share - 1.4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 1.4
Number of options outstanding at end of year	600,000
Options outstanding, Weighted Average Remaining contractual Life	9 years 6 months 14 days
Number of options exercisable at end of year	0
Exercise Price Per Share - 2.02
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.02
Number of options outstanding at end of year	500,000
Options outstanding, Weighted Average Remaining contractual Life	9 years 4 months 13 days
Number of options exercisable at end of year	0
Exercise Price Per Share - 2.14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.14
Number of options outstanding at end of year	400,775
Options outstanding, Weighted Average Remaining contractual Life	7 years 3 months 3 days
Number of options exercisable at end of year	277,994
Options exercisable, Weighted Average Remaining contractual Life	7 years 3 months 3 days
Exercise Price Per Share - 2.53
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.53
Number of options outstanding at end of year	33,638
Options outstanding, Weighted Average Remaining contractual Life	6 years 10 months 20 days
Number of options exercisable at end of year	33,638
Options exercisable, Weighted Average Remaining contractual Life	6 years 10 months 20 days
Exercise Price Per Share - 2.57
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.57
Number of options outstanding at end of year	205,500
Options outstanding, Weighted Average Remaining contractual Life	9 years 3 months 29 days
Number of options exercisable at end of year	0
Exercise Price Per Share - 2.815
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.815
Number of options outstanding at end of year	1,003,863
Options outstanding, Weighted Average Remaining contractual Life	9 years 3 days
Number of options exercisable at end of year	376,447
Options exercisable, Weighted Average Remaining contractual Life	9 years 3 days
Exercise Price Per Share - 2.86
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 2.86
Number of options outstanding at end of year	135,000
Options outstanding, Weighted Average Remaining contractual Life	9 years 3 months
Number of options exercisable at end of year	0
Exercise Price Per Share - 3.15
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 3.15
Number of options outstanding at end of year	345,000
Options outstanding, Weighted Average Remaining contractual Life	8 years 3 months 18 days
Number of options exercisable at end of year	123,125
Options exercisable, Weighted Average Remaining contractual Life	8 years 3 months 18 days
Exercise Price Per Share - 3.61
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 3.61
Number of options outstanding at end of year	250,868
Options outstanding, Weighted Average Remaining contractual Life	8 years 3 months 7 days
Number of options exercisable at end of year	101,059
Options exercisable, Weighted Average Remaining contractual Life	8 years 3 months 7 days
Exercise Price Per Share - 3.68
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 3.68
Number of options outstanding at end of year	294,580
Options outstanding, Weighted Average Remaining contractual Life	3 months 3 days
Number of options exercisable at end of year	294,580
Options exercisable, Weighted Average Remaining contractual Life	3 months 3 days
Exercise Price Per Share - 3.97
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 3.97
Number of options outstanding at end of year	247,082
Options outstanding, Weighted Average Remaining contractual Life	6 years 18 days
Number of options exercisable at end of year	242,053
Options exercisable, Weighted Average Remaining contractual Life	6 years 18 days
Exercise Price Per Share - 6.31
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share	$ 6.31
Number of options outstanding at end of year	1,222,390
Options outstanding, Weighted Average Remaining contractual Life	3 years 29 days
Number of options exercisable at end of year	1,222,390
Options exercisable, Weighted Average Remaining contractual Life	3 years 29 days

OPERATING LEASE (Details) - USD ($) $ in Thousands	12 Months Ended
OPERATING LEASE (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 197	$ 216

SUBSEQUENT EVENTS (Detail Textuals) - shares		3 Months Ended	12 Months Ended
SUBSEQUENT EVENTS (Detail Textuals) - shares	Jan. 02, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Number of options to purchase ordinary shares			2,458,863	1,975,586
Exercise of options to ordinary shares (in shares)			5,511	177,710
Vestion period		4 years
Subsequent Event [Member] \| Non Executive Board [Member]
Subsequent Event [Line Items]
Number of options to purchase ordinary shares	534,246
Exercise of options to ordinary shares (in shares)	0.73
Vestion period	1 year