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

6 Months Ended

Jun. 30, 2021

Derivative financial instruments

Schedule of Assumptions Used to Determine the Fair Value of the Warrants

The assumptions used to determine the fair value of the warrants using the Black-Scholes option pricing model were:

			As of June 30, 2021						As of December 31, 2020
Fair value of Cardiff Oncology common stock			$	6.65					$	17.99
Expected warrant term			1.6 years						2.1 years
Risk-free interest rate			0.16		%				0.13		%
Expected volatility of Cardiff Oncology common stock			110		%				116		%
Dividend yield			0		%				0		%

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.

(in thousands, except for number of warrants)
Date						Description						Number of Warrants						Derivative Instrument Liability
December 31, 2020						Balance of derivative financial instruments—warrants liability						64,496						$	285
						Change in fair value of derivative financial instruments—warrants during the period recognized as a gain in the condensed statements of operations						—						(268)
June 30, 2021						Balance of derivative financial instruments—warrants liability						64,496						$	17

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Tabular disclosure of the reconciliation of a concept from the beginning of a period to the end of the period.

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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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