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Derivative Financial Instruments - Warrants (Tables) - Black Scholes Option Pricing Method

12 Months Ended

Dec. 31, 2020

Derivative financial instruments

Schedule of Assumptions Used to Determine the Fair Value of Warrants

The range of assumptions used to determine the fair value of the warrants valued using the Black-Scholes option pricing model during the periods indicated was:

			Year ended December 31,
			2020						2019
Fair value of Cardiff Oncology common stock			$1.01 - $17.99						$1.24 - $3.75
Expected warrant term			2.1 - 3.1 years						3.1 - 4.1 years
Risk-free interest rate			0.13% - 1.62%						1.56% - 2.49%
Expected volatility			110% - 118%						102% - 111%
Dividend yield			—%						—%
			As of December 31, 2020
Weighted Average(1)(2):
Fair value of Cardiff Oncology common stock			$17.99
Expected warrant term			2.1 years
Risk-free interest rate			0.13		%
Expected volatility of Cardiff Oncology common stock			116		%
Dividend yield			0		%

(1) Weighted average is only disclosed for periods after January 1, 2020 under the adoption of ASU 2018-13.

(2) The weighted average was calculated using the relative fair value method.

Schedule of Components of Changes in the Company’s Derivative Financial Instruments Liability Balance

The following table sets forth the components of changes in the Company’s derivative financial instruments—warrants liability balance, valued using the Black-Scholes option pricing method, for the periods indicated.

Date						Description						Number of Warrants						Derivative Instrument Liability
December 31, 2018						Balance of derivative financial instruments—warrants liability						64,496						$	32,315
						Change in fair value of derivative financial instruments—warrants during the year recognized as a gain in the statement of operations						—						(28,188)
December 31, 2019						Balance of derivative financial instruments—warrants liability						64,496						4,127
						Change in fair value of derivative financial instruments—warrants during the year recognized as a loss in the statement of operations						—						280,844
December 31, 2020						Balance of derivative financial instruments—warrants liability						64,496						$	284,971

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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