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Derivative Financial Instruments - Warrants (Tables) - Black Scholes Option Pricing Method | 12 Months Ended
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Dec. 31, 2022
Derivative financial instruments |
Schedule of Assumptions Used to Determine the Fair Value of Warrants | The assumptions used to determine the fair value of the warrants using the Black-Scholes option pricing model were:
| As of December 31, |  |
| 2022 |  | 2021 |  |
Fair value of Cardiff Oncology common stock | $1.40 |  | $6.01 |  |
Expected warrant term | 0.1 years |  | 1.1 years |  |
Risk-free interest rate | 4.12 | % |  | 0.41 | % |  |
Expected volatility of Cardiff Oncology common stock | 54 | % |  | 83 | % |  |
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 year recognized as a gain in the statement of operations |  | — |  |  | (285) |
December 31, 2021 |  | Balance of derivative financial instruments—warrants liability |  | 64,496 |  |  | — |
|  | Change in fair value of derivative financial instruments—warrants during the year recognized as a loss in the statement of operations |  | — |  |  | — |
December 31, 2022 |  | Balance of derivative financial instruments—warrants liability |  | 64,496 |  |  | $ | — |

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- Definition 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. + References 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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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