DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following assets and liabilities associated with the Company’s discontinued operations, have been segregated and classified as assets and liabilities of discontinued operations, as appropriate, in the consolidated balance sheets as of December 31, 2014 and 2015, respectively (in thousands):

	December 31,
	2014		2015
CURRENT ASSETS:
Accounts receivable - Trade	$	1,884	$	1,993
Inventories*		3,216		80
Total current assets of discontinued operation		5,100		2,073
CURRENT LIABILITIES:
Accounts payable and accruals:
Trade	$	115
Other		8,694	$	1,568
Deferred revenues		43,109
Liability in connection with collaboration operation		912
Total current liabilities of discontinued operation		52,830		1,568

* During the years ended December 31, 2014 and 2015, the Company recorded approximately $1.6 million and $0 million, respectively, for write-down of inventory under the cost of revenues.

The following summarizes financial information related to the Company’s discontinued operations, in the Company’s consolidated statements of operations (in thousands):

	Year ended December 31,
	2013		2014		2015
REVENUES	$	10,479	$	10,128	$	48,674
COMPANY’S SHARE IN COLLABORATION AGREEMENT		1,034		1,509		5,048
COST OF REVENUES		(5,428)		(8,423)		(7,697)
GROSS PROFIT		6,085		3,214		46,025
RESEARCH AND DEVELOPMENT EXPENSES		(4,088)		(2,409)		(586)
Less –reimbursements		5,284		2,983		545
RESEARCH AND DEVELOPMENT EXPENSES, NET		1,196		574		(41)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		(334)		(433)		(564)
NET INCOME FOR THE YEAR FROM DISCONTINUED OPERATIONS	$	6,947	$	3,355	$	45,420
GAIN ON THE DISPOSAL						39,899
NET INCOME	$	6,947	$	3,355		85,319