Stockholders' Equity (Tables)
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3 Months Ended |
Mar. 31, 2021 |
Stockholders' Equity Note [Abstract] |
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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 March 31, | (in thousands) | | | | | 2021 | | 2020 | | | | | | | | | Included in research and development expense | | | | | $ | 40 | | | $ | 77 | | Included in selling, general and administrative expense | | | | | 228 | | | 100 | | | | | | | | | | | | | | | | | | Total stock-based compensation expense | | | | | $ | 268 | | | $ | 177 | |
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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: | | | | | | | | | | | | | Three Months Ended March 31, | | 2021 | | 2020 | Risk-free interest rate | (1) | | 1.8 | % | Dividend yield | (1) | | 0 | % | Expected volatility of Cardiff Oncology common stock | (1) | | 102.0 | % | Expected term | (1) | | 6.0 years |
(1)No stock options were granted during the period.
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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, 2020 | 1,860,507 | | | $ | 7.43 | | | $ | 27,963,363 | | | | | | | | | | | | | | Canceled / Forfeited | (10,770) | | | $ | 2.55 | | | | | | | | | | Balance outstanding, March 31, 2021 | 1,849,737 | | | $ | 7.46 | | | $ | 12,125,293 | | Exercisable at March 31, 2021 | 756,300 | | | $ | 14.61 | | | $ | 4,739,794 | | Vested and expected to vest at March 31, 2021 | 1,768,104 | | | $ | 7.68 | | | $ | 11,572,933 | |
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Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
A summary of the RSU activity is presented below: | | | | | | | | | | | | | | | | | | | Total Restricted Stock Units | | Weighted-Average Grant Date Fair Value Per Share | | Intrinsic Value | Non-vested RSUs outstanding, December 31, 2020 | 491 | | | $ | 147.60 | | | $ | 8,833 | | | | | | | | Vested | (491) | | | $ | 147.60 | | | | | | | | | | Non-vested RSUs outstanding, March 31, 2021 | — | | | $ | — | | | $ | — | |
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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, 2020 | 5,260,992 | | | $ | 5.19 | | | 4.1 years | | | | | | | Exercised | (770,833) | | | $ | 1.64 | | | | | | | | | | Balance outstanding, March 31, 2021 | 4,490,159 | | | $ | 5.80 | | | 3.7 years |
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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 March 31, 2021 | | As of December 31, 2020 | 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 | | 655,044 | | | 655,044 | |
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