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Share Capital (Tables)
12 Months Ended
Dec. 31, 2017
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]  
Schedule of Share Capital

Share capital is composed as follows:

 

 

Issued and outstanding

 

 

 

Number of shares

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

Ordinary shares no par value

 

 

89,478,032

 

 

 

87,066,446

 

 

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, 2017 and 2016:

 

Warrants for ordinary shares

 

 

 

 

 

 

 

December 31,

 

 

Exercise price

 

Expiration date

 

2017

 

 

2016

 

 

per share

 

July 31, 2017

 

 

-

 

 

 

547,478

 

 

$

3.59

 

January 22, 2018

 

 

203,241

 

 

 

554,331

 

 

 

3.59

 

July 21, 2018

 

 

304,863

 

 

 

831,504

 

 

$

3.59

 

 

 

 

508,104

 

 

 

1,933,313

 

 

 

 

 

 

 

In the years ended December 31, 2017 and 2016, warrants to purchase 1,418,711 and 902,132 ordinary shares, respectively, were cashlessly exercised, resulting in the issuance of 803,138 and 864,341 ordinary shares, respectively. Also, in the year ended December 31, 2017 and 2016 warrants to purchase 6,498 and 220,316 ordinary shares, respectively, with an exercise price of $3.59 per share were exercised for cash

Schedule of Fair Value Assumptions Used for All Equity Based Awards Estimated Using Black-Scholes Option Pricing Model

The fair value of share-based awards was estimated using the Black-Scholes model for all equity grants. For market condition awards, the Company also applied the Monte-Carlo simulation model, with the following underlying assumptions:

 

 

Year ended December 31,

 

 

 

2017

 

2016

 

2015

 

Stock Option Plans

 

 

 

 

 

 

 

 

Expected term (years)

 

5.50-6.25

 

6.25

 

6.25

 

Expected volatility

 

56.74%-59.45%

 

58.4%-61.70%

 

59.0%-65.80%

 

Risk-free interest rate

 

1.97%-2.23%

 

1.23%-1.88%

 

1.74%-2.05%

 

Dividend yield

 

0.00%

 

0.00%

 

0.00%

 

ESPP

 

 

 

 

 

 

 

 

Expected term (years)

 

0.50

 

0.42

 

 

-

 

Expected volatility

 

76.37%-82.00%

 

70.45%

 

 

-

 

Risk-free interest rate

 

0.62%-1.13%

 

0.4%

 

 

-

 

Dividend yield

 

0.00%

 

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, 2017 and changes during the year ended on that date is presented below:

 

 

Year ended December 31, 2017

 

 

 

Number of

options

 

 

Weighted average exercise price

 

 

Aggregate

intrinsic value

 

Outstanding at beginning of year

 

 

11,377,354

 

 

$

9.76

 

 

 

 

 

Granted

 

 

5,381,613

 

 

$

10.53

 

 

 

 

 

Exercised

 

 

(1,442,522

)

 

$

2.64

 

 

 

 

 

Forfeited and cancelled

 

 

(510,418

)

 

$

12.54

 

 

 

 

 

Outstanding at end of year

 

 

14,806,027

 

 

$

10.64

 

 

$

145,755

 

Exercisable options

 

 

6,389,813

 

 

$

8.64

 

 

 

75,547

 

 

Schedule of RSUs

A summary of the status of the Company’s RSUs as of December 31, 2017 and changes during the year ended on that date is presented below:

 

 

 

Year ended December 31, 2017

 

 

 

Number of

RSUs

 

 

Weighted average grant date fair value price

 

 

Aggregate

intrinsic value

 

Unvested at beginning of year

 

-

 

 

$

-

 

 

 

 

 

Granted

 

 

1,661,619

 

 

 

9.64

 

 

 

 

 

Vested

 

-

 

 

 

-

 

 

 

 

 

Forfeited and cancelled

 

 

(10,400

)

 

 

7.15

 

 

 

 

 

Unvested as of December 31, 2017

 

 

1,651,219

 

 

$

9.66

 

 

$

33,354

 

 

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, 2017, 2016 and 2015, was comprised as follows:

 

 

Year ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Cost of revenues

 

$

467

 

 

$

623

 

 

$

174

 

Research, development and clinical trials

 

 

3,587

 

 

 

3,155

 

 

 

2,529

 

Sales and marketing

 

 

3,784

 

 

 

5,111

 

 

 

2,496

 

General and administrative

 

 

19,278

 

 

 

12,552

 

 

 

6,661

 

Total share-based compensation expense

 

$

27,116

 

 

$

21,441

 

 

$

11,860

 

 

Schedule of Stock Option Outstanding

The options outstanding as of December 31, 2017 are as follows:

 

Exercise price

 

Number

of options

outstanding

 

 

Weighted

average

remaining

contractual term

 

 

Number

of options

exercisable

 

 

Weighted

average

remaining

contractual term

 

$

 

 

 

 

 

(years)

 

 

 

 

 

 

(years)

 

0.23 - 1.00

 

 

338,906

 

 

 

1.95

 

 

 

338,906

 

 

 

1.95

 

1.01 - 7.00

 

 

2,627,476

 

 

 

4.29

 

 

 

2,491,388

 

 

 

4.05

 

7.01 - 11.00

 

 

4,395,057

 

 

 

7.56

 

 

 

1,589,345

 

 

 

5.20

 

11.01 - 16.00

 

 

5,260,210

 

 

 

8.21

 

 

 

1,305,796

 

 

 

6.94

 

16.01 - 20.00

 

 

351,750

 

 

 

9.57

 

 

 

-

 

 

 

-

 

20.01 - 27.50

 

 

1,832,628

 

 

 

8.15

 

 

 

664,378

 

 

 

7.83

 

 

 

 

14,806,027

 

 

 

7.20

 

 

 

6,389,813

 

 

 

5.21