Share Capital (Tables)

12 Months Ended

Dec. 31, 2016

Share Based Compensation Allocation And Classification In Financial Statements [Abstract]

Share capital is composed as follows:

	Issued and outstanding
	Number of shares
	December 31,
	2016		2015
Ordinary shares no par value		87,066,446		83,778,581

Schedule of Warrants to Purchase Ordinary Shares were Issued to Purchase of Convertible Preferred Shares

Significant terms of the warrants to purchase ordinary shares that were issued to purchasers of the Series D and E Convertible Preferred shares are as follows as of December 31, 2016 and 2015:

	Warrants for ordinary shares				Exercise price per share
Expiration date	2016		2015
May 8, 2016 (1)		-		1,108,050	$	3.59
July 31, 2017		542,280		556,678		3.59
January 22, 2018		556,678		556,678		3.59
July 21, 2018		834,355		834,355	$	3.59
		1,933,313		3,055,761

(1)	In the years ended December 31, 2016 and 2015, warrants to purchase 1,122,448 and 570,344 ordinary shares, respectively, were exercised, resulting in the issuance of 864,341 and 570,344ordinary shares, respectively.

Schedule of Fair Value of Share Based Awards Using Black-Scholes Option Pricing Model

The fair value of share-based awards was estimated using the Black-Scholes option-pricing model for all grants, with the following underlying assumptions:

	Year ended December 31,
	2016			2015			2014
ESOP
Expected term (years)	6.25			6.25				6.25
Expected volatility	58.4%-61.7%			59.0%-65.8%			73.1%-75.3%
Risk-free interest rate	1.23%-1.88%			1.74%-2.05%			1.9%-2.3%
Dividend yield		0.00	%		0.00	%		0.00	%
ESPP
Expected term (years)	0.42				-			-
Expected volatility		70.45	%		-			-
Risk-free interest rate		0.40	%		-			-
Dividend yield		0.00	%		-			-

Schedule of Stock Options to Purchase Ordinary Shares

A summary of the status of the Company’s options to purchase ordinary shares as of December 31, 2016 and changes during the year ended on that date is presented below:

	Year ended December 31, 2016
	Number of options			Weighted average exercise price		Aggregate intrinsic value
Outstanding at beginning of year		10,134,829		$	8.20
Granted		2,596,600		$	12.97
Exercised		(1,045,187	)	$	0.51
Forfeited and cancelled		(308,888	)	$	16.81
Outstanding at end of year		11,377,354		$	9.76	$	20,302
Exercisable options		5,979,150		$	5.78		19,664
Vested and expected to vest		11,163,577		$	9.71	$	20,256

Schedule of Equity-Based Compensation Expenses Related to Company's Equity-Based Awards

The total equity-based compensation expense related to all of the Company’s equity-based awards recognized for the years ended December 31, 2016, 2015 and 2014, was comprised as follows:

	Year ended December 31,
	2016		2015		2014
Cost of revenues	$	623	$	174	$	32
Research, development and clinical trials		3,155		2,529		820
Sales and marketing		5,111		2,496		1,104
General and administrative		12,552		6,661		2,668
Total share-based compensation expense	$	21,441	$	11,860	$	4,624

Schedule of Stock Option Outstanding

The options outstanding as of December 31, 2016 are as follows:

Exercise price		Number of options outstanding as of December 31, 2016		Weighted average remaining contractual term		Number of options exercisable as of December 31, 2016		Weighted average remaining contractual term
$				(years)				(years)
	0.17		422,735		0.24		422,735		0.24
	0.23		423,019		2.39		423,019		2.39
	0.38		488,331		3.78		488,331		3.78
	3.44		1,779,072		4.88		1,779,072		4.88
	6.39		224,025		9.82		-		-
	6.72		838,725		5.67		838,725		5.67
	6.83		91,558		5.95		91,558		5.95
	7.03		613,174		6.14		460,594		6.14
	7.04		135,992		6.46		101,973		6.46
	7.28		129,488		6.66		97,098		6.66
	7.48		491,949		7.14		250,380		7.13
	7.52		108,491		7.24		54,967		7.23
	7.58		52,032		7.48		26,012		7.48
	7.73		428,096		7.77		215,510		7.77
	11.39		395,675		9.35		-		-
	11.44		228,050		9.58		-		-
	11.46		1,173,675		9.16		-		-
	14.37		1,556,881		8.16		398,227		8.15
	15.60		141,606		8.31		35,395		8.31
	20.20		114,145		8.81		29,513		8.81
	21.90		489,800		9.04		-		-
	22.00		834,035		8.76		211,841		8.76
	27.50		216,800		8.97		54,200		8.97
			11,377,354		6.84		5,979,150		5.23

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details