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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

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)			2023						2022						2023						2022
Included in research and development expense			$	297					$	126					$	691					$	460
Included in selling, general and administrative expense			1,284						929						1,954						1,747
Total stock-based compensation expense			$	1,581					$	1,055					$	2,645					$	2,207

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,
			2023						2022
Risk-free interest rate			3.61		%				1.87		%
Dividend yield			0		%				0		%
Expected volatility of Cardiff Oncology common stock			109		%				106		%
Expected term(1)			5.3 years						6.0 years

(1)The expected term for options granted after January 1, 2023 is estimated based on the Company's historical employee data. Prior to January 1, 2023, the Company used the "simplified method" to estimate expected term.

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, 2022			5,069,458						$	5.92					$	19,322
Granted			2,088,608						$	1.71
Forfeited and expired			(554,405)						$	7.12
Balance outstanding, June 30, 2023			6,603,661						$	4.49					$	23,351
Exercisable at June 30, 2023			2,766,027						$	6.16					$	21,713
Vested and expected to vest at June 30, 2023			6,410,335						$	4.55					$	23,269

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, 2022			4,360,968						$	5.33					2.1 years
Expired			(1,553,020)						$	10.54
Balance outstanding, June 30, 2023			2,807,948						$	2.45					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												As of June 30, 2023						As of December 31, 2022
Series A Convertible Preferred Stock						$	0.001					277,100												60,600						60,600
Series B Convertible Preferred Stock						$	0.001					8,860												—						—
Series C Convertible Preferred Stock						$	0.001					200,000												—						—
Series D Convertible Preferred Stock						$	0.0001					154,670												—						—
Series E Convertible Preferred Stock						$	0.001					865,824												—						—

Subsequent to quarter-end the Company filed a certificate of elimination and the Series B, C, D & E preferred stock have been eliminated from authorized series of preferred stock.

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