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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2022
Stockholders' Equity Note [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense related to Cardiff Oncology equity awards have been recognized in operating results as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Included in research and development expense | $ | 126 |  |  | $ | 72 |  |  | $ | 460 |  |  | $ | 112 |
Included in selling, general and administrative expense | 929 |  |  | 964 |  |  | 1,747 |  |  | 1,192 |
Total stock-based compensation expense | $ | 1,055 |  |  | $ | 1,036 |  |  | $ | 2,207 |  |  | $ | 1,304 |
Schedule of Assumptions to Estimate Fair Value of Stock Option Awards | The estimated fair value of stock option awards was determined on the date of grant using the Black-Scholes option valuation model with the following weighted-average assumptions during the following periods indicated:
| Six Months Ended June 30,
| 2022 |  | 2021
Risk-free interest rate | 1.87 | % |  | 0.94 | %
Dividend yield | 0 | % |  | 0 | %
Expected volatility of Cardiff Oncology common stock | 106 | % |  | 108 | %
Expected term | 6.0 years |  | 6.0 years
Summary of Stock Option Activity and of Changes in Stock Options Outstanding | A summary of stock option activity and changes in stock options outstanding is presented below:
| Total Options |  | Weighted-Average Exercise Price Per Share |  | Intrinsic Value
Balance outstanding, December 31, 2021 | 3,771,984 |  |  | $ | 7.13 |  |  | $ | 6,405,258 |
Granted | 1,731,136 |  |  | $ | 3.15 |  |  |
Canceled / Forfeited | (371,125) |  |  | $ | 4.77 |  |  |
Expired | (800) |  |  | $ | 165.84 |  |  |
Balance outstanding, June 30, 2022 | 5,131,195 |  |  | $ | 5.93 |  |  | $ | 80,809 |
Exercisable at June 30, 2022 | 2,030,219 |  |  | $ | 7.49 |  |  | $ | 34,443 |
Vested and expected to vest at June 30, 2022 | 5,042,299 |  |  | $ | 5.95 |  |  | $ | 77,880 |
Summary of Warrant Activity and Changes in Warrants Outstanding | A summary of warrant activity and changes in warrants outstanding, including both liability and equity classifications is presented below:
| Total Warrants |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Term
Balance outstanding, December 31, 2021 | 4,490,159 |  |  | $ | 5.80 |  |  | 3.0 years
Balance outstanding, June 30, 2022 | 4,490,159 |  |  | $ | 5.80 |  |  | 2.5 years
Schedule of Preferred Stock | A summary of our Company's classes of preferred stock is presented below:
|  |  |  |  |  |  |  | Shares outstanding
Class |  | Par value |  | Shares designated |  | Liquidation preference |  | As of June 30, 2022 |  | As of December 31, 2021
Series A Convertible Preferred Stock |  | $ | 0.001 |  |  | 277,100 |  |  | $ | 606,000 |  |  | 60,600 |  |  | 60,600 |
Series B Convertible Preferred Stock |  | $ | 0.001 |  |  | 8,860 |  |  | None |  | — |  |  | — |
Series C Convertible Preferred Stock |  | $ | 0.001 |  |  | 200,000 |  |  | None |  | — |  |  | — |
Series D Convertible Preferred Stock |  | $ | 0.0001 |  |  | 154,670 |  |  | None |  | — |  |  | — |
Series E Convertible Preferred Stock |  | $ | 0.001 |  |  | 865,824 |  |  | None |  | 327,509 |  |  | 655,044 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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